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Lets hope any contract awaring follows best practise. Lots of variables in these contracts, and a fair element of trust and goodwill, dare I suggest.
The total contract cost...new legals, new relationships
Devil in the detail, and can be more devil in the execution and managemeent in my experiene.
good luck to us all
the gnome
I will reply to this thread , I am just waiting for all other contributions to come in
MrBond yes AMS are definitely one and being part of the Ausdrill organisation they will certainly give most contract miners a run for their money.
Also although way after my time in West Africa I believe they had the contract at Toro so well known to Martin Horgan and his team.
Yes Dasut Ams comes to mind as number 1.
Tibbs something we must also appreciate is that the current contract that Capital has at Sukari is just moving waste and this is way off being a contract miner and there are far more experienced contract miners currently operating in West Africa.
Agree, no chance- the whole point in them contracting them in the first place was to have a flexible contract company which is going very well.
Hi Dasut,
From a recent conversion I had with an exceptionally well informed person I would say there is as much chance of finding rocking horse poo as Centamin bidding for Capital!
There is no chance of any of the £300 million being spent on anything like this because as you rightly point out there is no need or any sound business reason to do so.
I totally agree.
For Centamin to buy Capital would go down like a lead balloon in the market.
Also agree to the Nan on the street $300m is a fortune but a mining company can make mince meat of it in no time.
Sorry why would a mining company buy a contract mining company, just stay as an owner miner. Capital doesn't have a fleet of mining equipment in West Africa so there would still need to be a major capital investment. Also if they spend 210 on Capital they will still need funds to spend on the processing plant etc at Doropo and ABC.
Won't take long to spend the 300 million when they start developing new mines and they will be looking for reliable strong contact miners, drilling contractors and much much more.
Not necessarily .. Capital reported a record interim net profit at the half year . It could very easily be set up as a decentralised but centrally controlled upstream asset. Furthermore Capital has contracts with most other mining companies in the area . It might represent a strategic asset .
I agree it would be non core , and maybe too much of a distraction from core gold mining activity , but I wouldn't entirely dismiss it, without undertaking a preliminary due diligence review. .
Of course if the idea were to be dismissed for any of the above reasons , then there remains 30% of Centamins net asset base, cash backed, earning zero IRR
That's an idea. But I'm not sure the future ROI from a drilling company is very appealing - at least not to gold bugs.
My thoughts Cowichan is that Centamin has $300 million in the bank lying idle. Capitals market value is $210 million.
Centamin should be acquiring Capital not going into partnership with them ..but I have posted about this on another thread.
In West Africa there are many well established Mining Contractors which is good because Capital will need to be keen with their pricing as it is a cut throat business and would be a fascinating head to head with Ausdrill/AMS as there will be the need for a total contract inclusive of drill rigs.
Good morning all.
The tide seems to be turning for CEY.
But like the tide gradually.
I am begging to feel a little more confident.
It seems an age since the good times
But in reallity they were nothing but false misleading figures.
Better times ahead maybe.
Have a good weekend all.
'If Capital gets another Sukari-type contract in the next nine months (highly likely, say reliable sources) the swing of the needle to the upside would bring about a serious share price re-rating.'
https://www.capdrill.com/news/capital-limited-has-never-had-it-so-good-mining-journal-article
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My Thoughts:
There are benefits to partnering with a mining contractor like Capital to hire and manage the load & haul workforce in Cote D'Ivoire - not to mention their financing the trucking fleet. The 9 month timeframe lines up with the Doropo DFS to be released mid 2022