The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Courtesy of Old rascal
https://uk.angloamerican.com/~/media/Files/A/Anglo-American-Group-v5/UK/liaison/30-january-2024-presentation.pdf
Woodsmith project
Throughout 2023, we saw continued good progress on the core infrastructure, with capital expenditure of $641 million (2022: $522 million). Sinking activities at the two deep shafts continue to progress well. The service shaft is now c.745 metres deep, having reached the expected depth for the year. Sinking activities on the production shaft began in January 2023 as planned, at 120 metres below the surface, and following a successful ramp-up to planned sinking rates, is now at a depth of c.510 metres.
Excavation of the three shallow shafts that will provide both ventilation and additional access to the Mineral Transport System (MTS) tunnel is complete. The MTS tunnel is also progressing to plan and has now reached c.27.5 km of the total 37 km length.
During 2024, a key focus area for shaft sinking will be on progress through a strata called the Sherwood sandstone, where we expect sink rates to decrease due to the expected hardness of the rock and potential water fissures. This is planned for in progress rates, and the intersection of the strata is expected around mid-2024. On the tunnel boring machine, there is a planned 3-4 month maintenance pause from the second quarter of 2024, during which the tunnel will be connected to the final intermediate shaft, providing further tunnel access and ventilation.
In parallel to the core infrastructure development, we are enhancing the project's configuration to allow a higher production capacity and more efficient, scalable mining methods over time. The required studies for this are progressing well and will ensure that additional infrastructure is optimally designed to enable future optionality and maximise long term value over the expected multi-decade asset life.
The project is planned to be submitted for a Board approval decision on Full Notice to Proceed in the first half of 2025, following conclusion of the study programme.
Capital expenditure of $0.9 billion is approved for 2024, the bulk of which will continue to be invested on shaft sinking and tunnel boring activities.
The project is expected to deliver first product to market in 2027, with a final design capacity of 13 Mtpa, subject to studies and approval.
Looks as though Anglo America could get taken over by glencore from an article I read. Anglo American's share price crashed on Friday due to multiple issues with the company.
It's all over take a look on sharesoc website.. No claims. All the best in the future .
Https://im-mining.com/2023/11/17/anglo-american-woodsmith-projects-final-few-years-to-production/
Just got this from Share Soc:
Campaign members will be aware that there has been little reportable progress over the past year.
This has not been due to lack of effort on the part of the volunteer team, who have continued to press for further information to support a legal redress claim.
The team’s efforts have been consistently hampered by certain parties, most notably the Infrastructure and Projects Authority who have resolutely refused to comply with requests for information.
Three years have passed since the acquisition of Sirius Minerals by Anglo American. There has been no tangible information to report to campaign members for quite a while, and there is no realistic prospect of a breakthrough in the foreseeable future.
We also note that Anglo American’s latest cost estimate to bring the Woodsmith mine into production is $9bn, three times that estimated by Sirius Minerals. This runs counter to many investors’ views that the project was sold at an undervalue or that it could have been commercially funded as a standalone asset.
For these reasons, it is ShareSoc’s view that it would be irresponsible to keep the campaign open at this point, suggesting to members that a positive outcome is in sight.
We have therefore taken the decision to halt the campaign.
That doesn’t mean that all activity will cease. The team will continue to explore the events, documentation and actions that led up to Sirius’s capitulation in 2020. But we won’t communicate further unless there is positive reason to do so.
It is always of huge concern to see large numbers of individual investors pulled into unrealistic projects by naïve, incompetent and ill-advised directors.
We hope you will still continue to be a member of ShareSoc.
Kind regards,
ShareSoc
So sorry everyone
SXX would have ran out of money again and again, we got off lightly.
5p looks like a good payout even though most of us lost our shirts...
How are we doing ? Any news from sharesoc.
And another one...I wish the yanks would learn to speak english properly....🙄
https://youtu.be/u0pI7BjBha8
I have found this but so far cannot verify, however…
Sinking activities at the two deep shafts are progressing well. The service shaft is now c.500 metres deep. Sinking activities, which began in January 2023 at 120 metres below the surface for the production shaft, successfully ramped up to planned sinking rates and reached a depth of c.245 metres.
Excavation of the three shallow shafts that will provide both ventilation and additional access to the MTS tunnel is now complete, having completed the first in 2022.
The MTS tunnel is also progressing to plan and has now reached c.24 km of the total 37 km length.
Please read Numptypi's post on 23rd February.
Hi
All hope you are keeping well do any of you have news on the progress on the woodsmith mine shafts as must be getting down to polyhaylite by now former Sirius minerals share holders will be looked after. Remember them old days.
Did not receive any information about signing partition poorly advertising.
What's happening with the former Sirius minerals share holders.
Give all shareholders a voice by bringing Company Law into the 21st Century
Help more investors engage with UK plcs by modernising the Companies Act: Give beneficial shareholders the right to direct info on plcs they invest in & plcs the right to visibility of who their shareholders are, make email a requirement to shareholding registration, & recognise digital AGMs.
More details
Outdated legislation stops shareholder voices being heard. Almost half of individual shareholders can’t directly engage with the company they invest in, as they invest via platforms, the rest are constrained by a paper-based system. At the same time, companies are losing sight of who their investors are. Digital first reform will be better for shareholders, better for business and ultimately, better for Britain – making the UK a more attractive place to invest and to list.
Hello Jiffy,
For hundreds of years, companies knew exactly who their shareholders were and could communicate freely with them on matters of importance. Today, they can't and that's wrong.
The increasing popularity of electronic trading and holding of shares using investment platforms has been a very positive development but, it has also placed an unacceptable communication block between share issuers and holders. This undermines the whole concept of capitalism by creating companies who are increasingly unaccountable to their invisible owners. The consequences of this are clear.
To correct this serious and uniquely British flaw in the efficient operation of capitalism, Marks and Spencer and ShareSoc have jointly written to Business Secretary, The Rt Hon Kemi Badenoch MP, urging the Government to modernise the Companies Act to allow electronic (ie digital) communication with and between shareholders and web-based access to AGMs and General Meetings*.
Please can you support this initiative by reading and signing the supporting petition to UK Government so we can ensure this important matter is given the attention it deserves.
Please click here to read and sign the petition.
https://petition.parliament.uk/petitions/636051
Many thanks for your support.
Hi
All No News on SHARESOC website looking out of date . ?
God Bless you Archways, sounds like you have been put through the mill.
Here's hoping we can ultimately recover some hard earned cash with the ongoing Sharesoc investigation, who knows what the outcome might be, but for now at least I have some hope at least because of the fact the Sharesoc exercise is continuing with a 'Glimmer' of hope?
Let's hope so!!