produced 110,000 oz/year. If Wayu Boda can do the same and using CEY's AISC for Sakuri, the mine will generate £33,000,000 post-tax profit. I believe there are loyalties and other taxes to consider in Ethiopia also. Anyway, ALO's 30% interest amounts to £10,000,000 profit/year in Wayu Boda alone.
Mine (2.5Moz): "Financial Information In October 2009 the National Bank of Ethiopia said that Ethiopia earned US$ 540.5 million from nearly 48 tonnes of gold exports in the last 10 years. Approximately 47.9 tonnes, worth US$520.5 million, was produced by the Lege Dembi mine, run by Midroc." (http://www.ide.go.jp/English/Data/Africa_file/Company/ethiopia05.html). The mine generated £300 million of post-tax profit in 10 years (have I read that right?). The mine probably has another 10 years left. That is £30 million/year. If CEY can replicate this with Wayu Boda, we will will recieve 30%. It looks encouraging. We also have Aysid-Metekel to consider.
a top up & just been quoted 0.84p..so the true bid & ask are not reflected above, plenty of liquidity here & strong fundamentals..once the RNS lands on the 70/30 split deal with CEY 2p should be within sight..
Hi Gaz, you're absolutely right, ALO has got very solid foundations behind it. Fully funded, exciting prospects with major JV partner is a situation many minor goldies would kill for.
Not loosing till you sell though, that's a whole other debate isn't it ;) ...... Have I lost money on my depreciating car or negative equity house until I sell? I'm sure many have firm held views which ever way you look at it.
I sold 20% of my ALO holding couple of months back and stuck it back in CEY at 52p when I got a whiff of the new investment law being retrospective. So far that's worked out well for me as CEY's pushing north of 75p as I write this on a bull run. But long term I can probably make more here hence why I'm still heavily committed, for me at least.
It's just my opinion but I'm not sure about the not ramping thing during the 'plane taking off' era, as yes we were all excited but it just seemed that there were some incredibly optimistic claims going around by some members who I haven't heard a peep from since around that time.
Trade got banned but there's ways round if he really wanted to come back, I personally hope he does and is anyone still in contact with him? As I now realise Stubbsy sold out, when and why I don't know. And there was another chap, Applegarth was it? Who was, to say the least, a bit optimistic ;) Anyway I wish them well and we all make our own decisions.
So it's time for my ramping, I still think were going to be a minimum 10p+ share this decade. Think I'm safe on that one :)
Datafeed and UK data supplied by NBTrader and Digital Look.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.