Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Hi Dasut,
You are of the same opinion as Kees Dekker "Mining Analyst" these improvement in results are as forecast by him last year. and Kees is of the opinion that with Martin Horgan's present strategy this will continue going forward.
As you observed the stripping ratio is still very high as above 9, the cash margin is very low and possibly negative when considering capex associated with the open pit!
As Kees previously pointed out in his reports his reports of 2015 & 2018 it is the underground mining is the real source for cash flow at the moment, although as we are painfully aware at the time this was denied by Andrew Pardey CEO at that time!
Sorry typo should read Solar!
The role potentially played by climate change, as reflected in global temperatures and the increasing cost of fossil fuels.
https://eciu.net/analysis/reports/2022/climate-change-fossil-fuels-and-uk-food-prices
Food, fuel and energy bills are out of control and one of the reasons behind soaring prices is Fossilflation.
Watch now to find out how fossil fuels are making life miserable for all of us and why we need to reroute our whole system towards renewables to help bring prices down once and for all.
Sign the statement to demand Jeremy Hunt takes action now: https://actionnetwork.org/petitions/b...
https://www.youtube.com/user/PositiveMoneyUK
Thoroughly agree gnome West African government departments can't be rushed and hopefully Centamin no longer need a simple renewal of exploration licenses and are now applying for mining licenses which will also incorporate mining exploration.
Actually I am looking forward to seeing the results of the PFS in the coming months.
Thanks Prof. No matter what the figures are or what happens, somebody with the benefit of hindsight will say that it was expected because of XYZ . I suppose it is very hard to predict how much gold you will get out of the ground, even working at the same speed, as it depends wheter the gold is there or not! A few nice fat nuggets along the way would help :-)
I know some people dont like Martin Horgans "playing it safe" style, but that is also fine by me as I think he realises that he has to produce what has been predicted , or very close to it, each quarter, to maintain confidence. So this "steady as she goes" style is fine so long as the work is getting done.
Having said that, Im still waiting for him to unleash a cover drive or 2. From what I can gather he does seem to be clearing the way and opening things up to allow increased production in the not too distant future.
Fingers crossed for the Golden flip flops.
It doesn't work like this alas Paul- there are many factors including sentiment (which is less rationale)- 6th Jan2023 (3.5months ago, CEY was 125.5 and gold was 18,866)... But gold rose from 1,629 to 1,866 in only 2months(CEY rose 40% and other PMs flew too) as it looked like inflation had topped and dropped.
Since then (CEY has dropped about 18%), despite gold increasing from 1,866 to where we are now (so another ~120), but it took almost twice as long as previous rise with about half the increase and did drop quite a bit before rising again in this timeframe. during this time, the feeling is that inflation drop has/is stalling... hawkish FED etc.
My point is, absolute values don't matter, if they did (and RNS were good), then CEY would be above 125.5, and not down about 18%.
Long term remains strong though- let's hope inflation drops quick, which it should do soon, then CEY will reflect this (without any poor RNS on company stuff)
Hi Goldgnome,
I thought it was bed time down under!
I would love to see those figures. Put the $2200 together with a slight over performance on the AISC range that I mention in my previous post and we would be getting $1000 an oz over costs. Now wouldn't that be nice.
Yours dreaming,
Prof
Hi Paul,
I am afraid that I have limited figures to hand. The guidance for AISC for this FY is $1250-1400. Q1 AISC was $1348 for a production of 105,875oz so already well below the top end of the guidance range. All else being equal AISC will fall as oz produced increases as the non marginal costs of production are spread over a larger volume of ozs. That should therefore drive AISC down over the rest of the year. All else however is not equal and I expect a number of the other initiatives that CEY has underway to drive down AISC to have some effect this year (you mention the grid connection although of little/ limited impact this FY I suspect) and also some of the one off costs as they seek to get the mine back in shape to cease or reduce (you mention waste removal which we should see the 'extraordinary' element slip away although some is business as usual. As such I would be disappointed to see AISC above the mid-point of the range and would hope to see it somewhere between the bottom end of $1,250 and the midpoint of $1,325.
A large part of this guesstimate and perhaps too much is hope. I do suspect that CEY have given a range that they are comfortable being able to deliver even with bad inflation and a few curve balls as Horgan does seem to like to play it safe (fine by me!). If that inflation is not as bad as last year and there are no serious curve balls then that also gives me an expectation that we could come in within the figures I mention above of $1250-$1325.
Ultimately however we will only know in retrospect.
Best wishes,
Prof
Prof
I would not discount gold going to $2100 or $2200
The belief in curency is a belief in government, and that belief has all but disappeared.
good luck to us all
The gnome
Prof---as you seem to have the figures to hand, assuming for now that gold hovers around $2,000, how will the end of the waste clearance affect the AISC and profits? I think the waste removal is costing rather a lot at the moment? A $50 or £100 dollar reduction in AISC is as good as the same increase in the POG isnt it?
Also, moving forward, (just at a guess) how much will connecting to the grid cut costs?
Thanks
Hi Goldgnome,
Thanks for sharing. Well if that happened CEY would be clearing $800-900 over AISC. Even our share price would have to react to that!
Best wishes,
Prof
It be a decent endorsement / confirmation of confidence in the recent results if James Rutherford was to make another share purchase.
European stock exchanges traded mostly muted in the premarket hours on Friday, with investors locking their attention on PMI reports slated for release after the opening bell, which are expected to indicate the current state of business activity in the manufacturing and service sectors across the Eurozone, Germany, and the United Kingdom.
Before the opening bell, Britain's Office for National Statistics will post the latest update on the country's retail sales. Meanwhile, German software company, SAP posted its first-quarter financial results.
London's FTSE 100, the CAC 40, and the Euro Stoxx 50 were all flat at 6:53 am CET. Frankfurt's DAX was down 0.10%. The euro lost 0.09% versus the dollar, to sell at $1.09604 at 7:05 am CET. The British pound fell 0.09% against the greenback, trading at $1.24318.
Baha Breaking News (BBN) / AB
Happy Friday y’al
Enjoy your weekend!
Underground mine backfilling is a form of ground improvement that has to be carried out in the mine sites. The backfilling provides ground support and regional stability, thus facilitating ore removal from nearby regions. The large underground voids created by the ore removal are backfilled with the waste tailings in the form of paste fills, hydraulic fills, and others. The tailings are placed in the form of slurry that undergoes self-weight consolidation. A small dosage of binder is added to paste fill and cemented hydraulic fill to enhance strength. Considering the high cement cost, mines are using fly ash and **** to partially replace cement with blended cements. This paper gives a practical overview of underground mine backfilling in Australia using paste fills and hydraulic fills. The mining methods and different types of backfills are briefly discussed, with major focus on paste fills and hydraulic fills.
https://link.springer.com/article/10.1007/s40891-015-0020-8
Grinding Balls and Other Grinding Media: Key consumables
Cutting consumable costs is important for all mining operations, but not at the expense of quality. Grinding media represents low hanging fruit for most miners. Most often, the grinding media in question are grinding balls. In some mid-cap mines, grinding media makes up ~10% of total mining operational expenses (OPEX) and significant savings can be achieved.
Selecting the best-quality grinding media balls is considered a key step towards reducing mining costs. This post discusses grinding balls and quality control procedures that can be employed in order to select the best grinding balls for particular applications.
https://kemcore.com/blogs/news/grinding-balls-and-other-grinding-media-key-consumables
Grinding Balls and Other Grinding Media: Key consumables
Cutting consumable costs is important for all mining operations, but not at the expense of quality. Grinding media represents low hanging fruit for most miners. Most often, the grinding media in question are grinding balls. In some mid-cap mines, grinding media makes up ~10% of total mining operational expenses (OPEX) and significant savings can be achieved.
Selecting the best-quality grinding media balls is considered a key step towards reducing mining costs. This post discusses grinding balls and quality control procedures that can be employed in order to select the best grinding balls for particular applications.
https://kemcore.com/blogs/news/grinding-balls-and-other-grinding-media-key-consumables
Ball mills have been the primary piece of machinery in traditional hard rock grinding circuits for 100+ years. They are proven workhorses, with discharge mesh sizes from ~40M to <200M. Use of a ball mill is the best choice when long term, stationary milling is justified by an operation.
What if you could reduce your operating costs by 10%, or sustain mechanical availability above 90%? What if you could build a culture of zero-incident performance on your site? Or improve your operational performance and put more to your bottom line? Our team of mining experts can make it happen.
Beyond the products we provide, our mining knowledge and expertise is what sets us apart in the industry. We’re not just an equipment manufacturer; we’re a mining company. We have teams of people with decades of experience working in the industry. They have hands-on knowledge of mining machines and applications, site operations and equipment maintenance and repair, mining technologies, safety solutions, fleet management— and more.
https://www.cat.com/en_US/by-industry/mining.html
https://mbmmllc.com/products/ball-mills/
The Function of a Ball Mill
To perform its functions, the ball mill operates on the principle of impact and attrition. This principle entails that the balls are dropped from near the top of the shell in order to bring about size reduction impact.
https://raregoldnuggets.com/?p=6740
Bank of America lifts gold forecast by 10pc to $US2200 an ounce
As the peak for interest rates comes into view, Bank of America is forecasting that the price of gold will rise to $US2200 an ounce in the fourth quarter. It previously had gold at $US2000 in the December quarter.
Bank of America previously said it expected gold to rally this year, “driven by a view that central banks have no silver bullet in bringing inflation under control (e.g. energy prices or supply chain disruptions cannot be directly influenced by monetary authorities).
“A re-acceleration of China’s economy should push aluminium and copper up into year-end,” BofA said. Bloomberg
“This remains our core view and we see scope for gold to move higher once the end of the hiking cycle is reached.”
BofA said gold’s move on the banking crisis proved fleeting because Credit Suisse’s collapse came after near two decades of struggle and “the problems with regional US banks were heavily influenced by a lack of oversight”.
“As such, while we acknowledge the recent issues, they are not indicative of a wider banking crisis, in our view.”
the gnome
I think one has to be realistic about the situation in Burkina Faso. There is a lot of stuff going on in the country, that tends to negatively impact government processing (notriously slow in the best of times). Ditto for CdIvoire
So not sure your conclusion is correct, only so fast you can push the govt in those countries...
Doropo PFS is to be completed 2023 and there is a lot of exploration to be done...2023 could be a good year
regards
the gnome
I think one has to be realistic about the situation in Burkina Faso. There is a lot of stuff going on in the country, that tends to negatively impact government processing (notriously slow in the best of times). Ditto for CdIvoire
So not sure your conclusion is correct, only so fast you can push the govt in those countries...
Doropo PFS is to be completed 2023 and there is a lot of exploration to be done...2023 could be a good year
regards
the gnome
The Royal Canadian Mounted Police confirmed they are looking into a gold robbery at Pearson International Airport. Gold mined in Canada can travel through Pearson on its way to customers around the world.
The airport did not respond to a request for comment. Peel Regional Police, who are responsible for the area, asked for the Mounties’ help, the RCMP said.
The Toronto Sun reported earlier Thursday that 3,600 pounds of gold being moved through the airport had been stolen.
https://nationalpost.com/news/canada/gold-heist-at-canadas-biggest-airport-investigated-by-mounties
https://torontosun.com/opinion/columnists/major-gold-heist-at-pearson-movie-plot-turns-reality-in-gta
The paste fill plant is simply different, a mixture of material that has a bonding agent such a cement for example.
This is important ,more efficient,and quickly pumped though a tube.
The underground has the much higher grades ,and is the future for now.
If it can be eventually be recovered from the base of the open pit it will increase dramatically the overall grades of ore processed.
Thank you ,I do fully understand the need for constant maintainance.
The ball mill has been re-lined with a material that will take extra wear and is much quicker to replace in the future.
Pity others dont understand .
But many are just traders, in and out, quickly.
Theball mills of which there are at least four were done individually so production was affected to the least.