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I'm glad the mods are nuking the vermin quickly
I think this is the crucial thing. We all expect a sale, but plan b (mining it ourselves) is also excellent.
I've not got as much as Gecko, and I'd accept less, but I'm holding out for at least 20p before I even consider doing anything. Mainly hoping for a fat dividend from a sale though.
Anders
He has moved on to the next plane of existence.
Plumbers, you can lease equipment so there's no Capex to get up and running. You've only got to look at the current wash plant to know they can quickly upscale production by installing a larger one. If any of you have watched gold rush, imagine Parkers wash plant and several of them, with large bucket diggers filling the plant 24/7.
In terms of company valuation, I'm also invested in another mine who's share price hit over 40p when the price of Vanadium hit a record high of $143 last year. They made $49M in 2018, boosted by high price of Vanadium. The share price has dropped since, but it's still in the low 20's now that Vanadium has dropped to $30.
So worse case we end up with a share price between 20-40p going it alone, once we've had a decent years profit. And the longer we mine, the more profit and naturally the higher the share price goes. The cost of buying that company goes up the longer we mine, which is probably why we'll see an offer sooner than later.
Our product sells for over $1000 profit per ounce, so our share price would be sitting pretty once our profits are in the tens of millions even without a sale.
Well that was quick.
I see that 'Plumbers' doesn't exist anymore. I don't understand the motivation of these posters.
Plumbers
I notice that you have still not responded to my question on your valuation of about 400 mill. But you have now offered to answer technical questions on mining and the oil industry.
So how have you valued it at less than £400million?
What are the calculations?
You can obviously refer to cap ex but value it along with the value of minerals.
The floor is yours.
Shareholders
Plumbers keeps slipping up because he doesn’t know what we as shareholders know. Now he is latching onto the 12.5p target which as shareholders we know was put out there by a dealer.
I urge you to filter and ignore him.
I have seen his latest utterance on another device which I haven’t logged in on.
He or she is one of Tillywiz’s botflies trying to steal from us. Their new tactic is to concede a gain but pitch it low to make some have second thoughts. This must be worthwhile for the botflies and is clearly why we need to swat them.
Send for Tillywiz!!
Plumbers.....I'm from construction industry.
Not been here long, myself, but watching on site video's.....it seems to be reasonably straight forward....dig, load lorry, tip,load wash plant,shaker....load metal rich 'spoil'....drive to further purification ? Smelting plant....few kilometres away....
To expand on this....surely you just need appropriate licence's, staff, more diggers,second,third wash plant, trucks.
Why is it a 2 year wait.....why not Chuck everything at this in the coming spring ?
Plumb.
See the RNS of 4th Dec. The $50M is a sub contract of the $150M that SinoSteel are putting into M. I would not have a clue how much it costs to develop it but I am guessing that they do.
Another angle......planning, purchasing machinery,and lead in times for said machinery, staff, etc........at what point will god bidding window close.
Yes ...to a degree, we can take our time....but, if we go it alone, there is going to be a date at which wheels need to be set in motion for next seasons mining.
So......if a buy out......sooner, rather than later ?
Guy’s just filter him. You seriously wasting your time.
plumbers you said 'we don’t have the finances to commercially mine this for many years.'
... but Sinosteel have already financed it.
It is huge but your 8 to 10p is laughable. 40 to 50 mill oz for 300 mill. 15 mill soon to be verified.. gla
You are wasting your time Gecko.
But valiantly.
Good luck
@Gecko
Thats what the £50 mill is for with Sinosteel.... to do the ground works etc so EUA only pay when its in production, quite a favourable agreement to us from what I remember.
DIFTK
Thanks for replying
Getting 10p a share grosses up to to a few hundred million. Given what is there, not just palladium, is a paltry valuation even after allowing for cap ex.
You are significantly under-valuing the asset. You seem sure of yourself. Your true colours are indeed exposed. Filtered.
Your pricing is way out or your true colours are now on show.
Which one Plumbers?
Gecko - Also they are mining themselves instead of contracting out, retaining further profit. Win Win
you will see a small amount in the WK figures in December, but we know thats not the ones PI's are looking for, if it gets to that if EUA get PD out the ground at MT the deal is off clearly
Actually it’s January mining season starts
All this bloody chat about palladium this and palladium that - when are they guna get the stuff out and start selling it
palladium up nearly 2% on the week ;-)
Let's not forget the prices of rhodium and iridium which is also in calculation from the basket of metals. Payments due soon