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@Bannor.. I didn't like to say and was to shy to ask lol.
LoL Dallas .... Where & how Ethiopia crept in there I don't know .... although now it's out there how does Ethiopia work!! :-))
So Hastings may have resources from their 100% owned tenaments to supply Sheaffer. So do not see the sense in the last RNS. A bit of spin and know more.
Yes Jimb2... Cheers.
Yes, Dallasdaz the wording is:
Hastings holds 100% interest in the most significant deposits within the overall project, and 70% interest in additional deposits that will be developed at a later date, all held under Mining Leases. Numerous prospects have been identified warranting detailed exploration to further extend the life of the project.
https://hastingstechmetals.com/2020/06/hastings-signs-long-term-binding-master-agreement-with-german-automotive-tier-1-supplier-schaeffler-technologies-ad/
So some time away but who knows when?
Still, it's a project that will hopefully get to production and add value to KDNC.
Lol...Thanks ;-)
The 30% describes our interest in the project and reason for the RNS....not where they're going to mine from.
Don't take my word for it there are plenty of LTH here who could probably explain it better.
@Bannor ;-)
@Kread ... terminology is important here
Exploration is the searching/finding/testing for a resource
Exploitation is mining, digging it out & selling it
There are mining licences in place & approved that include both HAS 100% owned areas & a small JV part, the licences in which we hold a 30% interest are not due for exploitation (at this time) until sometime after year 7/8 of the mine operations ..... a lot can happen between now & then though ...... & as Dallas has said we've yet to negotiate & agree with HAS on how Ethiopia will work ... our JV areas in Yangibana do not have the highest grades although they're up there amongst them, Hastings like Bacanora's mining plans in the first years serve & favour their own best purposes & interests as well as those of their shareholders above us (as would be expected)
Shaeffler have signed up to offtake from the currently permitted mining operations so is relevant to us in that 'some' (not all) of our JV areas are included in the existing mine plans albeit not for nearly a decade yet so we have some to time yet to sign agreements with HAS.
Not sure that you are correct in what you are saying dallasdaz, having read through the RNS again. They specifically said that 30% owned tenements, which leads me to believe that's exactly what it is?
@kread...Quick info for you from the RNS's....
Sep 2018
"We engaged with the management of Hastings, to discuss and review the reasoning why our joint venture areas are not included in the current mining plans. In conclusion, although mineral resources are substantial, using the currently envisaged beneficiation and hydrometallurgical process, the higher grade in the joint venture areas is offset by the higher processing costs associated with the ore. Therefore, Hastings envision that the ore will be included in the later stages of the mining plan, which is out of the scope of the feasibility study.
Jan 2019
"The mining schedule indicates the commencement of mining from the joint venture areas beginning in year 6 (2026) of with the large majority of the mined ore being derived from Yangibana North (M09/159) from year 8 onwards."
The proviso...
"If there is a mine development by the joint venture, not only will there need to be a Mining Joint Venture Agreement agreed and put in place to replace the existing joint venture documentation and regulate the arrangements between the participants for the mine development, but arrangements will also need to be established to determine how the Yangibana production and tenements the subject of the joint venture fit with the broader 100% Hastings group owned production and tenements.
No costs or revenue ascribed to the 30% interest in the deposits held by Mojito Resources are reported in the financial modelling. If Mojito Resources did not participate in any development of the joint venture deposits and the development of those deposits was to proceed on a 100% basis by Hastings, then the economic model would need to be updated to allocate those costs and revenues to Hastings."
Dalls - thanks for that, so the next question is will there be exploration in our part owned tenaments to fulfill the Scheaffer JV or do Hastings have enough booked to supply from their 100% owned tenaments.
Really what I am asking is did they need to release a RNS about the JV if it will not have any impact on KDNC, why bother if it has nothing to do with KDNC. If that is the case then they want to create some spin, which could be misleading.
@kread...there is no JV agreement for 'mining' our tenements, the JV agreement we have is for 'exploration' only. Same applies to BCN.
Well wouldnt trust any company unless they specifically stated all the facts, thats why we always need to go digging to put some real context into what they announce. It would be better if they were more transparent in how this JV could mean to them, which they have not, so as they have not I would persume it is not involving their tenaments. Until told it is.
I would have thought so - North Yangibana, which KDNC has 30% interest in has the highest grades out of all tenaments. Surely, KDNC wouldn't have RNS'd if not relevant!
Have today emailed KDNC and asked the question about Hastings JV with Shaeffer. Is the supply to Shaeffer coming from our tenaments in Yangibana, which we have 30%, as there are a number of tenaments in the area 100% owned by Hastings.
This does need clarification.
I guess there is some comparison's that can be taken from it though;
Total Jorc reserves of Yangibana; 10.3M
Hastings; 9.2M
Cadence; 1.1M
It's like BCN, we have two 30% JV's with them, but without an equity stake in the company there is no value attributable to us based on their market cap. Same as Hastings.
need people to stop selling at these prices for true value to be realised. if no-one wants to pay 20p a share its not going to get that high. Hopefully the market wakes up soon enough! im new here and looking forward to the future.
Its not that clear, I guess we own 30 percent of part of it.
Two Mining Leases and one Mining Lease Application, Ten Exploration Licences and three Exploration Licence Applications, and four Prospecting Licences, that are 100% owned by Hastings, and
One Mining Lease and Six Exploration Licences within the Yangibana – Cadence Joint Venture, which is managed by Hastings and in which Hastings holds a 70% interest.
So do we not have 30 percent of this project ?
https://hastingstechmetals.com/projects/yangibana/
https://www.cadenceminerals.com/projects/yangibana-rare-earth-project-2/
Hastings only have 3 projects listed on their website and if we own 30 percent of one then its still more than our market cap??
Maybe I'm wrong as I said I bought on Amapa as I can see that on its own being worth 10 times the current market cap if all goes to plan
It's all about Amapa...IMO.
KDNC don't own any of Hastings...They share a few JV areas where we have a 30% interest but isn't in their mine plan for 8 years at the mo.
The German deal announced with Schaeffler is primarily from Hastings 100% owned area.
I bought this for Amapa, but if Hastings is worth 73 million sterling with 2 projects. That means KDNC's 30 percent in one of the projects is worth more than the current market cap.
I do not get why this is not more than 14 million market cap.
Eua went to 200 million cap and we are 14. The market is mad. Makes no sense.