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Can Buy below placing price today. May hold off for my topup to see whether this drifts a little more.
Yes, always tricky to determine the point where they become self-sustaining. Some here would have you believe it will never happen and it's a spiral of perpetual placings. Worth remembering why these people post at all. Presenting a balanced argument is fine but trolling for the sake of a cheaper entry is disingenuous.
The work to date has now opened up the lower layers. As you say, excluding the mining of the very low grade material the company is now in a very different position with the higher grades of the pure kimberlite. Let's see what the early KV1 kimberlite delivers. Perhaps that is the last placing needed, perhaps not. If it was then it will be the last chance to get shares at this price.
Don't be fooled by the spread. There are plenty of large volume takers yesterday at close 1M & 1.5M at 0.3 (marked as sells).
0.3015 to buy at the moment. Not many takers yet.
cpht is the key kpi, cost structure would remain same but the revenue would rise substantially when the CPTH rises....they did said in the last rns: 'At an operating level of 40,000 tonnes a month, BlueRock expects its mining operations to be profitable at a grade of 2.5 cpht. The Company's average grade from all of its mining operations to date is 2.6 cpht and excluding the mining of the very low grade material in the higher levels of the pit BlueRock estimates that the average grade to date is approximately 3.5cpht.'
what would be interesting is if they would need future placement to reach that 40k production target by Mar 19 - May 19, that would indicate whether this is the bottom or further dilution ahead.....
The Rns for Q3 made a point of raising new funds to improve the operation of the mining plant.
They raised 700k, but the bulk of that is to exoand the k1 and k2 pits.
So yet again money is raised to fund the mining operation and not the processing plant.
Seems like nothing this company says can be taken at face value, Guidance is amatuerish , cpht as a guide to profitability ?
Whats the ebitda likely to be, or aisc etc
I can only hope to get back to where i was by them digging up a few larger stones, but nothing convinces me that its worth investing more at the low price now, its likely to tank further on the next story about why they need more money.