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NicetoMichu…..
Well something has to give. We all know the assets are worth something and even producing.
After yesterdays RNS it's very hard for me to understand people selling around these levels... eg john Swan yesterday and more selling today.... which is, so far, putting some breaks on a rally here.
(I guess there might be an element of distain/contempt towards CB from size holders whose mark to market has been hammered in the last year here, in any selling anywhere around these levels.. day traders always have some sort of impact, but their turn would be very small at this time, so they're not really a thing versus any sort of buying around this level, I'd guess.. )
I still expect this to get back to 2p + soon enough.. and as mentioned by others - eg Howzap - there may be another - good news - RNS to come ahead of AGM - eg around pre concentration down the Bush..- to help too..
2p may be incidental for plenty, granted.. but it's a start back at least..
In the round, this s/p is just too cheap versus fundamentals by most any definition, and even including the Birdsh_2_t factor, I'm expecting this rally to have legs.. and I might easily add a tranche or two more as it goes..
IMHO & DYOR
Yep, I forgot to do the forex calculation to £ !
13p approx with today's exchange rate and 1 billion share in issue. Depends on any more dilution from option etc.
Lucky520 > "Don't know what NPV will be, but I am looking for approximately $500m with a sale price of a third."
that would be around 17p a share wouldn't it ?
*and if its not that
Colin said the majors want 25% over Lif of mine.
And I imagine they won't use more than $4 LB copper. So that's what I'm looking for in the new economical model and if it is that, then I expect more drilling.
Don't know what NPV will be, but I am looking for approximately $500m with a sale price of a third.
Naughtygordie, that’s a fabulous find. Many thanks for posting! I’ve read the 6 pages, which has opened my mind to the potential, and value, to the mining industry, of ore sorting. And the cherry on the cake is the fact that the Australian based, ore-sorting market leader, NextOre, has their proven technology working it’s magic on a conveyor at the ‘nearby’ Newcrest Mining Cadia East block cave copper-gold mine. My confidence is returning. Bring it home Colin!
Interesting it says the technology can reduce cost of processing from $10/ton to as low as $1/t.
Correct me if wrong, but I understood Colin sto say that the sorting in higher grade material is seen to increase the ore to over 1%, while anything under .3 % would be processed with lower grade bulk material, further samples of which they are now assessing?
Likewise lucky should be 0.1%CuEq.
I’m sure he mentioned at some point the moly will not play a part at RC ???
Yes agreed nothing in black and white as yet. No one will be more relieved than me as have championed the £¥?k out of going down that particular path.
That should read copper equivalent down to 0.1cut off.
Howzap, yes, the ore sorting is worling well on the lower grades according to colin......no proof in black and white......yet and we still don't know if its profitable. I am praying it is and we can sell it ASAP.
We have to remember that the jorc is 0.1, not all copper. We are yet to hear how the ore sorting is working on the gold/silver/molybdenum, are we even going to look at the molybdenum?
The lower grade recovery rates are proving to be just fine. The extra samples needed from the lower grade ore are due to it being more widespread across the resource so more representative examples are required to increase the confidence.
I would stick my neck out and say the concept works, it’s down to how effective those recovery rates will be against the reduction of waste rock.
If I am right in thinking, the updated mining study is looking to be based on the whole of the 512mt racecourse resource that is at open pitiable depths now. Previously CB spoke of a 9 year mine life which would have indicated a mining phase of just the extracting the higher grade 191mt crown in an initial CapEx payback phase. The bulk ore sorting technology should now allow them to exploit the lower abundant grades at or below the 0.1%Cu cut off, which would have a significant effect on the economics.
Hi gixxer, I meant get the new economic model to work with the ore as low as 0.1 cutoff, which the jorc is.
We might have 1.3mt, but if we can't run the stuff down to 0.1 cut off.......how much will be have.
We shareholders have been provided with an RNS today containing good news concerning the gold being produced at Fairbride. Circa 65kg established for April and May. As one or two knowledgeable posters suspected. It remains to be seen whether this gets any closer to Colin Birds oft repeated forward guidance of 85 to 100 kg per month.
Hopefully that sets a floor under the market cap of the company.
Unfortunately the communication around Bushranger leaves everybody - investors and potential investors - in the dark. There is no clear path / stages to go through to enable the Board to take a Decision to Mine, irrespective of whatever they are doing behind the scenes. It seems that our hands are tied until there is a trigger for the AA option. Or maybe it’s just a matter of waiting until the price of copper increases substantially. All boats float on a rising tide…
BTW the 3 x 400k share sales today were me. I still have many more but holding onto the rest for now.
Do you have any proof of this remarkable turnaround as so far not one of your posts has anything factual in them, only huge praise for the company and condesending, some would say snide, remarks about anyone who doesn't agree.
I couldn't find any complaints about the RNS either, only ones about your ramping and glitter rolling.
It's rare even on here to see such blatant ramping from a poster who has so obviously just bought in .
You carry on old son I'll just filter you as that's the best place for you I think.
At least Ma Twinkle Baker is entertaining.
The rerate will happen once the clever money sees the amazing value being accumulated here. I really cannot see what the complaint is regarding today's excellent news. A few good posters here understand what is happening. They are quite knowledgeable and understand how the value is being built.
I assume you became a genuine shareholder yesterday then OSV ?
You should make a profit from here, it's the LTH's that may never see their investment back let alone a profit.
If Bird manages to get this to 5p I will be one of the first to praise him, but until he creates shareholder value I think he's failed us. I would have thought finally getting a good RNS regarding Manica would have moved the dial more than 10% today though.
A good day for all genuine shareholders. Well done Colin Bird and the board for delivering.
Lucky, didn't Bird, if you can believe what he says, state in the last interview that they got the high grade portion up to 1%
Losses were higher though so they may not even ore sort the high grade portion, as I recall he said anything below ~.32 would go through ore sorting..
That's a no then OldColsBird !
You win on the challenge to post something positive to reflect all the work put in by the board on shareholder's behalf though.
I couldn't find any.......
It will be interesting to see the reducing in cut off grade. Could they possible get it to 0.1?
Thanks for putting that up gixxer.
So exactly where will that profitability come from beyond ‘just’ the increase in resource?
The effect of economy of scale that will increase the operating margins. A lot of the cost in processing is labour, which includes people working at the mine face, plant operators, processing plant workers, upper management staff, accountants, site safety and HR personnel, admin and other general workers.
It doesn’t matter wether a development option covers a 15, 20 or 25 mtpa throughput over 5,10 or 25year LOM, you still generally only need the same amount of staff to run the operation. So half of the operating costs are already factored into a new set of development scenarios with the increased tonnage.
This before any benefits from ore sorting and any other pre-concentration have been factored. If proven successful of which is looking to be with the feedback so far, then it will impact both Cap and Op costs from reducing plant size, reducing water and power usage, including haulage fuel if the barren material can be separated prior to hauling to the pad.
Nearly every test case for BOS has seen the technology incorporated into an existing plant whereas the advantages in tailoring a new plant at BR around the technology could have far bigger economic advantages. Would become a super efficient state of the art plant utilising the most advanced mining technologies too.
2mt blah blah blah