We have the added onus to shift the tailings and reduce toxicity for the environment, so I'm sure this will have sway. Additionally, we shouldn't have to pay mining tax, because the tailings are residue from prior mining. Therefore, we shouldn't then be faced with a situation whereby we are waiting for tax breaks, due to say an overpayment. We won't be reliant on a rebate to keep us going.
Only my opinion though. I try not to see the gloom of other mining companies affecting our outlook, because we are just shifting tailings, but importantly, doing our bit to make the environment as green as it can be. The powers that be will hopefully be prioritising any available assistance for us, to ensure that we can have a good crack at it.
Bearing in mind the curent water and power shortage in Zambia,wonder how this is likely to affect BMR .It appears miners are having problems with hold up of VAt money due to them also.Consider the fact they only are releasing about 250 mill and 800 mill is outstanding, there are likely to be layoffs across the board.
Mopani Copper Mines, is one of the many mining companies, still owed in VAT refunds. First Quantum Minerals, owners of Kansanshi Copper Mines and Kalumbila is owed in excess of US$240 million, Chambishi’s NFCA is owed over US$230 million, Chambishi metals over US$300 million while Sable Zinc, the Kabwe based miner closed down last June after it failed to secure over US$24 million in VAT.
However, the Government says it realizes the importance of the mining industry and has since disbursed US$120 million of the total VAT debt as its commitments to harmonizing the growth of the sector, Zambia’s lifeblood.
Chief Government spokesperson Chishimba Kambwili told reporters in Kitwe, in northern Zambia that US$129 million has been released towards offsetting the debts as mining companies, faced with various operational problems consider laying off over 4,000 workers to remain operational in Zambia.
After what occurred prior, I'm not predicting where we could end up with the sp. Naturally, I want to see my 51.6p average reached, and in truth, I'd be reasonably happy to get three quarters of my investment money back. That's the minimum I'd be reasonably happy with, but due to there currently being many questions regarding the costings for everything and metals prices not yet moving skyward, I feel it's too difficult to come up with an sp figure for total value. We no doubt have massive potential, as you say Jer, what's the mine really worth? So at least we do have the chance of achieving great things. Timed to coincide with rising metals prices too hopefully, then most, if not all of us, can be pleased that we chose to stick with it.
I'm taking each piece of news as it comes nowadays, but to date under AB, it's so far, so good.
Shows the massive potential of this company. I'm a long term holder caught out by Masoud's incompetence and took a serious financial hit; however, still confident I will see a nice profit. Expecting nice steady rise, followed by massive re-rate on Zema news then again at Pilot plant production followed by full scale production and then company sale to a major.
Got to be looking conservatively at a 20 bagger from the current Mkt Cap...
Has always been a slight mystery - at least to those who weren't subscribed to the Slime Dump Google Group mine information pack, who are presumably more familiar with what exactly may be down there. So I'm wondering what are the prospects for further exploration and development there in the near to medium term?
I deleted all my saved broker reports on BMR while we were suspended, thinking the worst. All I can remember is that the mine may contain something like 1.4 million tonnes of ore - not sure of the grade - and I recently read that the sulphide ores are all worked out leaving silicate ore - are theses more difficult to process?
I hear the mine is flooded, will this be a problem? To what depth do the mines go? Is there further exploration potential or was it pretty much all scoped out before it got closed down? Presumably the water will have to be pumped out before any more assets can be proved up there? I see CRND in S. Africa spent several million $$$ on two pumps to dewater their mine to a depth of about 450m so it may be possible in our case also.
My breakeven is about the same - around 30p. I'd like to think we could at least get to Vapes's old 5p = 50p but I don't have a target price as such. Things will depend on how the wider global economy and future commodity outlook is, as well as how my other investments perform.
My overall aim is to recoup all my losses over the last 5 years of commodity price slump and AIM corruption, and get the hell out relatively unscathed - I chose the worst time to invest. At worst I have been 85% down on my p/f but am currently about 60% down.
Even 50p means a Mcap of £65m so we'd need to be in steady profitable production with maybe one or two other irons in the fire - perhaps the metals prices will have recovered a bit and the Kabwe mine will be touted around for the big boys to consider buying into? Any sudden deal (or sale) mentioned there may have the potential to add an extra zero to the s/p from these levels.
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.