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How much profit on the alledged $952k in revenue per month?
What you were told in a webinar !! Anything said in a webinar by GR is absolutely worthless unless backed up immediately by a properly worded RNS. If GR is giving away inside information during a webinar and you are receiving it and acting upon it (including passing on such info to others) then both are guilty of insider trading which is a criminal offence.
Napom - how is my view? It's an RNS from July 2019 stating why we were giving them $1M and then recent RNS's and webinar which show MNH have achieved next to SFA since compared to why we gave them the money (4,500 tons to 5,400).
As indicated I'd advise people to vote for the increase but not because of any of the BS Prem or yourself post which has been consistently wrong now for over 5 years and it would appear you're just doing more of the same again, but like Prem
Napom,
What would help here would be some more information about profitability rather than revenue as in the past MNH has struggled to make a profit.
It would also be really useful to have sight of the Bara report on the Plant and Machinery. The unaudited accounts from 2019 state assets of less than $2m. The Bara report values P&M at $22m. This doesnt make sense to me. You will come back and say they bought the P&M from a distressed seller. That doesnt answer the question. What P&M has been valued as part of the Bara Report? Is there an asset register? What plant has been acquired and when? How many hours are on each piece of plant? How much did MNH pay for the P&M they acquired from the distressed seller. These are all questions GR should be able to answer if he doesn't have anything to hide. The easiest thing would be to issue the Bara Report.
Also, if MNH is seeking to increase production to 10k tonnes why are they able to provide surplus plant to RHA? Surely they should be using this to increase throughput at Otjozondu?
I know your general approach is just to accept what GR says without requesting any detailed underpinning but in this case the detail is needed.
Got to get back to work, u guys have a good day and good luck deramping $952k in revenue per month.
Your views Mol and One. Unfortunately, not shared by many Im associated with who hold over 30% and rising.
The $1M was ours though and here we are the best part of a year later about to chuck yet more at it and the discrepancy which is as wide as the Grand Canyon hasn't been answered.
I can go back years to my first Corporate Governance postings - stank then, stinks now & unfortunately till dressed it's a traders paradise and not an investment and should be viewed as such.
To be fair mol, those were projections and they weren't prems
Oneknows - you're embarrassing yourself. Im referring to what we've been told during the webinar which suggests to me that you didnt attend
Just to be clear a previous RNS from July 19 said ...
The new equipment should enable MNH to increase the mining rate, and annualised production is expected to target throughput of 220,000 tonnes lump ore, or not less than 7,7 million dmtu of exports by the end of 2020
Unfortunately Napom with Prem you can't believe anything put out in an RNS - after all these years there's only yourself and one or two others who actually believe any of the BS.
PS - before you get all sulky from where I'm sitting people have no choice but to nod through the share increase because the alternative is worse at least with the lights on there's still a chance for people to trade their way of this car crash but as an investment proposition that's a different matter altogether
NaPom yes let's be clear about the RNS.
The company have made no reference whatsoever about increasing production.
But's that's the biggest issue here imho "we've been told" you and your cronies shouldn't be told ANYTHING other's ain't been told what makes you so hooking special?,Because you've had information other's haven't been privy to you've been able to use this to your own advantage all the while trading the back out of this c$%p...
Just to be clear on RNS, it says:
"At this level of export and on the basis of ruling prices and terms, this equates to circa 190,400 dmtu. Gross revenue is determined by future selling price. The most recent sale was for a shipment of 1,405 ton of lump ore and the price per dmtu was US$5.00."
5,600 tonnes of ore per month produces 190,400 dmtu of manganese
190,400 dmtu x $5 per dmtu = $952,000
$952,000 revenue per month
1 shipment is 1405t. They are doing roughly 4 of these per month.
There is no way there is any profit from 1405t
rns says target 5600t per month current rate 1045t per month
Current production rate of 5600 tonnes will make just under $1m per month or circa $12m per yr is roughly 14% of the annual target of $80m in 2021.
nap you are saying they are producing 5600t per month with a target of 10000t but the rns says they produced 1405t with a target of 5600t
Weve been told a circum meeting for shareholders will take place after the SGM.
So, the Shareholder Group are voting against the ceiling raise at the SGM as per Napoms comment "RE: Prem31 Dec 2019 10:44
We have communicated to the board that we would vote against a share ceiling raise unless sp is multiples of where it is at the mo."
Where does that leave PREM? Genuine question.