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Wouldn’t even like to guess foz
Doubt will get any kind of update until financial model has been reworked from resulting ongoing work.
That is:
Further studies are being undertaken focused on:
-Optimising Plant throughput capacity
-Metallurgical recovery and early stage waste separation
-Rationalisation of proposed CapEx
-Improvement in OpEx following the abovementioned reviews
HZ, when will we be getting a BR update, what is the date?
F100
Boring wait, but at least there is no desperate need to sell BR with income from the Manica disposal being drip fed in until ‘ 27 that will cover the ongoing operational expenses.
Bobs feedback comment from the recent GM that, “there seems to be an exit strategy from AA that is not too expensive” to me implies that they will negotiate a manoeuvre that allows them out of the AA buy back option agreement, retaining ownership. They would then be capable of offering BR to the global market but I would say only once, the fully updated Conceptual study is complete.
They would want to get BR as far up the value curve as possible before an official approach to AA. And that must be at this next study level as from ‘then on,’ any increase in asset value will cost many more millions in drilling but that value will be negated to a high degree through the resulting need of partner funding.
All theoretical based on the ongoing studies for BR so likely be down to one of the other assets to get the share price moving up.
Wake us up when it's 15.
Copper $10,000 a tonne and all are asleep
All very boring..
Https://www.fxempire.com/forecasts/article/missed-out-on-the-gold-rally-heres-another-commodity-on-the-verge-of-a-major-boom-1424971
Could this finally be it.
There are other types of sorting tech to choose from btw so could well be a different company than NextOre to trial. Any of which must be able to detect either the copperl, a proxy for it or a gangue mineral for rejection. So options are not limited.
But as I said, as BR mineralisation is in association with pyrite/pyrrhotite, considered gangue or waste material. Its metallic/magnetic materials properties could be suitable for rejection.
still grates me how they should have known that with br’s copper being disseminated in that ****geneous matrix that cb eventually admitted, these ore type are typically not amenable to pre-concentration. but tomra is the preferred tech for this “usual” ore type as did show was ok for sorting the lower grades.
however , he did tell us about rc’s magnetic properties of its waste material being likely suitable as a candidate for sorting ‘before’ tomra were sent samples.
so am expecting they are now looking at a company called nextore that produce an on-conveyor mr analyser bulk ore sorter which is the tech trialled at cadia and a big mine in chile. it has been successfully trialed by scanning chalcopyrite copper ore grade which is far less magnetic than br’s waste material, which could see the magnetic resonance tech target the racecourse high grade portion waste material for detection and separation in the pre-concentration needed for a viable small mine concept they will hope to verify as this is where the significant reductions in capex and op costs will significantly improve npv.
you can bet on it br will be worth more than $20m if they nail on proof of concept for pre-concentration of the higher grade.
" The Bushranger Study concluded that the highest post tax NPV8 of AU$363m (NPV10 - AU$265m) processes ore above 0.10% CuEq at 20mtpa with a sale price of US$11,000/t."
If Copper does go to $15K/t we are going to get more than $20M for BR imho.
BR will get sold eventually but I think the sale price will be in line with what we thought Manica was worth and what we got for it. And if we get a deal like that one will it even move the SP ?
Rainbow chasing in Zambia will raise the SP, along with a CB waffle campaign, sex sells as they say, married life doesn't....
Https://www.mining.com/porphyries-deposits-holding-the-winning-trifecta-with-copper-gold-silver/
Every corporate analyst seems to think $15K a tonne is coming...but the disagreement seems to be on the times scales.
Varies between 2025 2026 2027 or 2028
A long wait if it is 2027+ but I'm sure BR will get sold within those times scales and we will eventually see 4 to 6p again.
Maybe more?
For me, bottom drawer until then
"15,000 dollars per kg in 2025....."
I really hope so. That would be equivalent to approx $15M a tonne
I'm sure BR would be profitable at that level :)
Https://www.fxempire.com/forecasts/article/missed-out-on-the-gold-rally-heres-another-commodity-on-the-verge-of-a-major-boom-1424971
15,000 dollars per kg in 2025.....
My broker wouldn't let me buy the Wisdom Tree Copper ETN, nor was COPJ available. So stuck with dodgy AIM companies plus BRWM. Back in 2003 I was keen on gold. In those days there was no gold ETF so I bought AIM mining shares. Gold was approx $300 an ounce. Quickly went up but the companies invariably went bust or screwed by the respective Government or Chinese. Hope this time is different. Maybe others know of other options.
Maybe I should've invested in copper rather than copper shares
Looks like copper has now passed the 10K per ton mark !
All falling into place.
The study was conducted at height of fuel price spikes,, probably anticipating furter rises. Things are and will most likely continue to ease.
And then there is Copper... price just now, $9,810 mt $4.45 lb, long may this rise continue.
Just assuming, if the costs of extraction, go up with inflation. Does that mean the sale cost of copper needs to increase with the same percentage, to keep the NPV the same?
Example: inflation 5% for 3 years consecutively, meaning the $11,000 becomes $12,733.
A total increase of 15.75%.
Maybe steve can help? Lol 😆
Time and an improving global economic climate could well see viability come to the project. Just how desiresble it will be once all costs to build a mine are included will see. He mentioned many moons ago that they will likely end up with a near surface drilling programme. Cannot rule out, that has not changed. It is still as far we know, as has been RNS’d that further drilling is in the planning stage. This no doubt to add further estimated 2-300Mt of resource to NW to improve economics “if” optimising doesnt wholly return the numbers they are looking for to support the fully updated conceptual study.
Also there is an alternative smaller mine concept he mentioned they haven’t looked into the economics of yet they could go with as a mining first phase.
Think he has been clear that money is not going to be spent on drilling to get to 2mt, pretty certain that would include taking it to Pre Feasibility too, with still no guarantee they can trigger the buy back as he said it is going to be difficult to prove the decision to mine AAL option.
So a JV to this effect is not likely.
*of an "asset"*
I think a JV to attempt to make BR viable is something that CB should consider, after all, that's exactly what he's doing in Zambia.
Would you rather have 100% of aqn "asset" with little or no value or 75% of a saleable commodity ?
Cheers Bob that makes me see the sense in James’s concern regarding making Xtr just sit on it. I’m jumping a potential step obviously. Certainly a more feasible way for them to eventually farm it back out again to get it de risked further before a ‘developing’ major will put their money into it.
So let’s just get it up to the conceptual study, got a couple of years and plenty of optionality still to do it, then see what happens.
Also the other factor to consider toward improving the free cash flow status alongside an improving sustainable copper price and the optimisation of recovery rate and associated mining costs is a reminder that with seeing growth again in global economies it will inevitably reduce interest rates and also see fuel and power costs come down which will have a more positive, direct effect on the projects NPV than copper spot price.
Yes that was said at the GM, basically big co's need to show inventory on books chance for future development, as other resources are depleting