Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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https://twitter.com/cele7tial/status/1265946012407017472?s=21
I think there is approx. $1bn in tailings DegsyAlmond, from 7/5/20 RNS;
'Overall production estimated at 661,171 ounces of gold over 25 years generating revenue of ZAR16.86 billion (c. US$991.7million).'
Mix up in currency I think. GLA
14 interested bidders to fund $17bn of gold tailings. Power play for KAT
With 14 bidders on the hook expect bidding wars. Should generate lots of news and interest.
29 May 2020
Katoro Gold plc ('Katoro' or the 'Company')
BLYVOOR GOLD TAILINGS PROJECT: EXTENSIVE INTEREST IN PROJECT FUNDING
Katoro Gold plc (AIM: KAT), the AIM listed gold and nickel exploration and development company, is pleased to announce an update with regard to the Company's Blyvoor Joint Venture (the "JV") in respect of the Blyvoor gold tailings project (the "Project").
The recent positive announcement of the Blyvoor Scoping Study saw a significant increase in interest from possible funders, looking at potentially providing the necessary financing to support the construction and development of the Project. The Company was already engaged with a number of potential funders before announcing the Scoping Study results but received significant interest subsequently.
Given the increased interest, particularly post announcement of the Scoping Study results, Katoro Gold Plc, in conjunction with its JV Partner, believes that it is in the best interests of stakeholders to allow for sufficient time to duly entertain and properly consider the funding options/proposals from these potential funders. It is incumbent on the Company to deliver the optimum outcome for its shareholders and with the increase in interest, an additional period will ensure Katoro can ultimately secure the best possible financing option. With this in mind, the JV Partners have agreed to a further extension until 30 June 2020.
Significant progress was made over the past month in advancing the Project at all levels and most notably on the funding initiatives. The Company and its JV Partner will however continue to take a pragmatic approach in the further development of the Project, in what remains an unusual operational environment for contractual finalisation, with specific reference to financing arrangements and associated deadlines, given the COVID-19 pandemic.
Louis Coetzee, Executive Chairman of Katoro, said:
"The JV represents a unique and exciting investment opportunity for the Company with the possibility of significant near-term revenue generation within a very aggressive timeline.
"To have received 14 expressions of interest to date, despite the challenging business conditions that COVID19 has caused, is further validation that the Blyvoor Project is indeed robust and attractive to potential investors. This also demands that the Company take all steps necessary to ensure that it can adequately and responsibly assess, evaluate and consider all available options and possibilities whilst continuing to advance development at pace.
"The Company looks forward to updating shareholders on progress made on the financing deal for the JV Project and appreciate the patience and support that shareholders have shown in recent weeks."
Further background details on the Blyvoor Scoping Study and project are available in the announcements of 30 January 2020 and 07 May 2020 on the Company's website at www.katorogold.com
Yep, same here - my average was below 2p before and is now above.... frustrating!.... have a much lower holding now though so tempted just to leave it to "the end" and hope for big things... won't be as big of a potential reward, but much lower risk too.....
Too true Newbietrader84. Frustrating, just when I was close to getting out, they pulled me back in. GLA
Why oh why don't I listen to my own comments!?... I said it'd drift back towards 2p earlier on!
I don't think so DegsyAlmond. The rise seems to have stalled somewhat (2.1p), people that have been here a long time have suffered many delays thanks to LC (asset is good at Blyvoor though at almost $1bn although 18 months to production - maybe). I am stuck here after months with average at 2.6p. EUA is Pd and Pt mostly and worth billions and is an actual miner (mining West Kytlim). GLA
Will top EUA. Lower capex and quicker to exploit.
most probably not. GLA
could this be another eua
Agreed. KAT No wonder they've already received 14 expressions of interest... HIGHLIGHTS: * The Study demonstrated an unlevered Project Net Present Value ('NPV5') of US$131million, a 25% Internal Rate of Return ('IRR') and a Return on Investment ('ROI') of 260% * Mine life of 25 years building to a production capacity of 500,000 tons per month and 35,000 ounces of gold production per annum. Overall production of 661,171 ounces of gold over the 25 years, generating revenue of US$992m * Low cost operation with an estimated All-in Sustaining Cost ('AISC') of US$727 per ounce of gold and an All-in Cost ('AIC') of US$920 per ounce of gold. Total Project capital costs of US$110m across the life of the Project, with peak funding requirement of US$36.4m * The Study utilised a gold price of US$1,500 per ounce compared to the current price of c. US$1,700 per ounce * Based on the current data available, Minxcon has estimated the potential Mineral Resource at the Project which is used in the Study to be 1,290,000 ounces of gold with 277,000 ounces in the Measured and Indicated categories and 1,013,000 ounces in the Inferred category
I've bought back in but a small amount compared to what I held previously (at a lower price!.... doh!)... still cautious about anything LC is involved with....only invest what you can afford to lose has never been a truer sentiment than anything he's involved with!
Entered because there more than ten interested party's debating to see what's best. 6mil mcap, aggressive moves to quick production, and the road ahead will derisked before June 30