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Andmillsy. Thank you for the historic research. This sums up my problem with the company, the utter lack of professionalism when it comes to communication. Set a date and work to it! By previous analysis, Q3 will be poor, why do we have to determine this due to the timeliness of the release?
Andrew. I'm encouraged and impressed by your confidence. I have also been topping up at these low sp levels. So just have to keep teeth gritted and fingers crossed for however longer a resolution takes. I now need the sp to recover to 4p to break even. Am I asking too much? Hopefully not!
Colin was saying something about the cost to process is now down to about $10 per tonne.
At 0.1 cut off you are breaking even.
Better to process the ore and break even than spend $5 to remove waste and dump it.
This brings back to the consultants saying bushranger is dependent on processing this ore.
Look at the images on the latest jorc and see the amount of mass 0.1 and above.
I'm convinced the guys have managed to get bushranger economical to mine and we will see an NPV over 500m.
Just my opinion.
"It's frightening to think that the very next RNS could literally make or break the future of the company"
I may have got this wrong, but I don't see it that way - well not news that will break the future of the company. Even if the economic model shows that copper has to be say $9K or $10K a tonne, I believe that will happen within the next 6 to 12 months. For clarity, I don't expect the model to show POC needing to be higher than $8.5K
Worst case imho, we may need to park the buy-out for a year or maybe 2, and wait until copper price goes up.
As others have pointed out, the near surface 0.6mt (191mt x 0.33%) just from RC will pay off all capex and leave a good profit.
It was for those reasons, that I have added another 500K shares over last month (100k x 5) and will keep buying 100k batches up to total addition of 1m by March - assuming sp stays sub 2p for that long.
Previously I said I would not buy anymore as I've already got multiple millions but I didn't expect the shares to be this cheap ever gain !
January sales are still on... but for how long? :)
DYOR I may have got this all wrong - but I doubt it.. FB profits alone, should see sp substantially increase
Sorry... that should say Opex over life of mine.
Anyone here know if capex reduces with length of mining?
Major costs for capex and opex is equipment....this equipment is maintenance and replaced but most of this equipment has a expected life of more than 9/10/11 years.
Anything for shareholders in all this ?
That was the point that CB was trying to make in recent podcast lucky, the remaining open pitable resource at 0.22 processed down to a 0.1 cut off will only carry its own variable operational costs once CapEx is paid for. Not too dissimilar to what Bollidens Aitik mine in Sweden is mining. $200m was a rough figure of annual ‘profit’ from the remaining 15-20 year mine life if recall correctly.
If it wasn’t for the high grade cores the project would have far less chance to be economically viable.
On multiple readings of the rns it does feel like they already have an idea and they are trying to show you. It may be that the deeper stuff isn't as lucrative but with a capex already paid for and a banked profit after 4/5 years!! I think we could be onto a saleable deposit.
*we can't - 'I know we can believe what Bird states anymore' :)
Lucky520 - Funny you should bring that up, I listened to the latest Roast podcast gain last night.
I know we can believe what Bird states anymore however he does say the near surface section of the mine will have a life of ~11 years. He also states CAPEX would be paid off in around 4/5yrs.
Hopefully we can expand on the near surface deposit in the next 6m or so.
· The copper-gold mineralisation at the Ascot Prospect comes to surface and contains a higher-grade section of 34Mt @ 0.33% CuEq, reported at a cut-off of 0.2% CuEq
· When combined with the shallower higher grade zone previously reported for Racecourse, this gives a total of 225Mt @ 0.33% CuEq of potentially open pittable mineralisation for the Bushranger Project
Above is taken from the latest RNS.
The 26th of July pit study had an opex and capex of approximately 6 billion aus dollars which is approximately 4 billion usd......the shallow open pitable area is approximately 7.5 billion usd worth of copper at $10,000 a tonne.
So just the shallow area can pay off capex and run at a profit of approximately 3.5 billion.
It's frightening to think that the very next RNS could literally make or break the future of the company and with it our hopes and dreams. I think I need to lie down for a few hours or even weeks. The stress and strains of last year are beginning to tell. Will this year be any better?
https://www.listennotes.com/podcasts/the-sunday-roast/s4-ep140-12-stocks-for-the-xTADE6N9l1I/?_gl=1*13vh0mz*_ga*bHBIcjNjRmp6Uk5hUXYzejBIbWZZbE5yYjFuLXJCb2IxYU1JdE5DY3pmUWZldmdpU01tTEVESi1FMUhRdWZmTw..
Hi ZM I’m no doubt being really naive in thinking the roast boys have any professional integrity to uphold lol
Cheers
Howezap ... "So it’s expected really that the roast boys have dropped xtract as they too, probably feel they have been led on as there were keen to get it sold comments. So to promote it for 23 against the markets reaction would show bias and smack of partiality. Not great for their credibility."
surely your are aware that the Sunday Roast (Roast PR) is a PR company and it has clients for whom it issues PR. XTR is such a client. Bias and hints of partiality are integral to the PR agent/client relationship!!
Apparently there's a complimentary series being produced, " Turkeys for '23" , ;)
....if Carlsberg did quarterly gold income updates..
...they would probably be on time...
Precisely. I’ve had to sell 15% of my XTR holding in the last 2 days, at a 65% loss, as I had to cash in to pay bills. It was tough to do. That will teach me to have been substantially overweight in XTR. Though, to be fair, my other investments are showing big losses over the year too. Hoping for a better 2023.
True enough Andrew - I guess is it that time of year that the taxman comes calling too! (if you're self employed)
Gixxer
If anyone had inside info in Oz I suspect they would have sold much sooner and at a higher price before collapse. Volume very low and really not many sells. I suspect its a panic sell by PI who has lost their bottle or needs to pay bills.
Even if you discount Bushranger and give it zero value its doesnt make sense to sell now (unless you need the money) as FB income will be worth more than current MC.
....if Carlsberg did quarterly gold income updates..
An possible alternative and more positive reason for the delay is that Q3 and Q4 results were so good that, along with FB gold production, they are having problems in storing all this gold now. They are trying to sell it on as quickly as possible but cant sell it quick enough due to massive amount so can't officially record the accurate figure for Gold income.
I suspect we are probably at a few hundred million $ of income by now for FB, Q3 and Q4 and we will be waiting until all gold sold and payment made before any announcement. That maybe about half a Billion $ revenue for last two alluvial quarters + first FB income.
I did say it was a more positive reason for the delay and only a possibility :)
>>So think we can probably expect a interview tomorrow, let’s see
I don't think it will be an interview with CB. Kevin also stated: 'No it’s our twist don’t get to excited !' With reference to someone expecting news inc
Got to be ~£300k's worth sold in the 200/250k batches over the last couple of months. I'm beginning to to think it could be the chaps down in Auz. (which is worrying)
Anyone recall how many shares they had?