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thanks numpti
i suppose i am saying that if it was something drmatically new one would think more would have been said about it... anyway onwards we go and news to come "shortly"
cheers
PrivateR, updating the jorc is a fantastic idea but it’s expensive and it isn’t something that just happens. My take is that when it is updated you can assume that it’s become a necessity (perhaps because someone else wants it) and finances allow, both scenarios make me smile!
To clarify, copper has been found both at depth and near surface, which explains why it’s a possible contender to explain the additional resource comment. Copper is a valuable commodity and if you have already paid mining costs it’s a gift. I understand that it’s unusual because it’s a separate geological event but in the same place, but now we’re well beyond my pay grade!
Numpty pi
Total agree. Best and most intriguing news we've had since I first invested in the first days
I agree DJchrisp....hence my comment they may in fact be the JV partner. Why announce the marketing agent now when we a few years away from Production ? Clearly they have multiple uses In a project of this nature and I seem to recall LR saying the JV partner does not necessarily have to be a miner...and Conrad certainly are not. Very interesting as you say. Let’s see how this pans out but a very clever move imo. GLA
You are always balanced mr shed! Wouldn’t it have been sensible for the rns to say the JORC resource rather than leave it as a tease for people here to speculate ?! I have to say that before your sensible intervention I was thinking it was a financial resource ie a grant or a loan .... but your take is the best. The
Thanks all for the input on costs..... somehow missed it!
My take away is that its well in reach of conrad which makes this very interesting.
No problem with the gender reassignment Trade, I'm reasonably open minded. Deals done on long averages not spot prices anyway. I've noticed a few times during the rise a major institution upping their targets for silver and gold only for the price to be wacked a day later. Hmm wonder what's going on there? Still confident that the trend with silver is going to be historic.
I suppose for the sake of balance as I've recently been excitedly posting the silver price rises - it's had a bit of a shocker today :)
I'm hoping they will have done the borehole by now as it was planned back in Feb. Seem to remember LR telling me back in Feb / Mar that the CV work restrictions wouldn't affect our ability to drill it but I can't find the email now. Perhaps the piezometers will be an ongoing thing, I'm guessing you probably have to continue to monitor them during construction and when it's operational?
Initial hydrology as you say has already been successfully completed. A bore hole is still required and additional sensors will need to be installed but I’m not aware whether either have been either costed or started. Existing sensors are currently expected to provide quarterly results throughout 2020. All details are in Feb rns
Hydrology must be looking good as well.
Numpty mate - plus the Geotechnical Survey will have a further positive effect on pushing what is already low Capex down further hopefully we'll get a new SS which will input the Geotechnical data which we didn't have in 2018. Also would love the NPV to be updated after the new JORC as that was pre indicated and obviously pre 025 as well. Current NPV way out of date.
In essence, the costs have reduced, the recovery rates have gone up, the size of the asset has increased, the risks have come down, the value per tonne has increased, our bargaining position continues to improve plus a new resource is soon to be announced ...what’s not to like!
Numpty pi
Cost of mine was $33 million +/- 30% from the ss , Npv was $110Million at the time, but we have numerous updates since then that haven’t been included, not limited to but including ...no25 drill, increased inferred asset, first indicated asset, greater understanding of mets, greater understanding of deleterious substances, increased value of metals, greater understanding of recovery rates, increasing political will to retain control of supply chains...not to mention copper at depth and near surface which may or may not be the rns reference this morning.
Numpty pi
@DJ it was in the scoping study...if I recall correctly it was about the same as the NPV at the time 110m$ ....Oils may remember....I also think with them targeting high grade first it was substantially reduced.
Has there been any rough ball park figures on possible financing needed to turn this asset into a mine?
Always thought this would be sold but now have a sneaking feeling production might be attempted.
GLA
Cjen...what I. Attempted to do was to show the value of 1 share over 20 years as opposed to say a sale of the asset where the sale price is divided by the number of shares in issue.....know what I mean ? There is more value in the share over the mining period....Best D
Yep. The share price is different to the earnings per share per annum
Hi Bricks, so you are calculating an annual dividend payment here, which is of course completely separate to the actual share price , right ?
Double Bubble.
Its all dollars...I cut and pasted the options/warrants from Europa website...thats their exercise price.
Cheers.
Hi Bricks, thanks for the calculation. Just checking, you started in pence but ended up in dollars. Did I miss understand or did you mean £? Cheers Jed