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@Titam welcome from me also to this bb. I notice your intention to take a "decent position".
Recent short term downward trend of sp has been suggested to be the result of
West Face feeding the market with sales from recent purchase of over 8m shares at 14p
from exercising warrants. This has not been confirmed but it could be a reason for the
poor performance and maybe a future drag on sp.
If you have read through recent rns announcements then I assume you have taken into
account this possibility.
Welcome on board Titam,, refreshing to read a post that makes sense from a long-term investment perspective based on straightforward research, experience and common sense.
Thanks for the clear information. I spent a couple more hours last night reading through the company rns and other mining information so feel alot more informed now. As the for the stope collapse that djg raised I see that its a common occurence in mining and management are mitigating this with more stopes in production. I work in the oil and gas field in Scotland so I'm used to production setbacks and understand they have to be factored in rather than presumed to never occur. Overall feel confident this management can make the turaround work, I'll take a decent position when the market opens Monday. I'm not a day trader so not interested in finding the rock bottom of the share. atb
Take your tonnes per day, multiply by the grade, multiply by the recovery and multiply by metal price to give your gross revenue.
So here it's 1350 x 2% x95% x 9400 = $241k per day
Titam: tpd is the amount of ore that is mined and brought to the surface. This then has to be sent to the mill (40km away) to be turned into copper. The ore contains ~2% of copper at good grades, and ~1.5% when the grade is lower. The more tpd you can mine and depending on the grade, the more copper you can sell.
The ore sorter you see talked about will remove a lot of waste (29%) before transporting to the mill so effectively it increases the Cu grade by that amount (effectively 2.5% Cu). See the June 30th RNS for guidance. The ore sorter will come online in H2 2022.
Tonnes per day (produced). By the end of this year RMM plans to produce 1350 tpd at a grade of 2%. At that rate, 1350 x 2% x $9,500 (current copper price per tonne) would equate to £183,000 of revenue per day.
Hello looking to buy in new to investing. Been reading up in the rns etc can see the company growing with the good foundations it has put down. As bad as this sounds what exactly does tpd mean and how is this used to calcuate potential revenue. Thanks