Stephan Bernstein, CEO of GreenRoc, details the PFS results for the new graphite processing plant. Watch the video here.
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If i was writing this i would point out the change from the same period last year (as I said before). If you look at it like this the figures are quite staggering for the Manica.
Q1 2021 Total gold production 284 our share 79 - Q1 2022 Total Gold production 2176 our share 425.
We saw a 400% increase in gold mined - in what is our worse quarter. It looks like the increase would give an increase of between 1000-1500 oz for the next qtr to be released next month. Thats an extra 500k easily.
On top of this the hard rock (not the new plant that Empress are involved in) is continuing to ramp up from nothing a year ago. to a 50-200% increase qtr on qtr. Again it looks on target to be 1000-1500 oz in next months figures.
Given al this the figures for the next 12 months (gross to XTR) conservatively look to be Q2 1.5m - Q3 1.8m - Q4 2.4m and Q1 (2023) 1.3m giving gross profit just from this single license (not the empress stuff to reiterate) of 6m.
TBH, I am quite flabbergasted by this figure, it blows away my negative thoughts as I thought this was a bit of a distraction. With the empress manica plant added on at 8-10m a year thats 14-16m just from these. With Eureka and the few other bits added on 20m USD over the next 12 months is certainly possible.
At some point the market will actually look at the figures and realise. (it would happen quicker if Colin actually did a bit more - had a broker that delivered analysis and price targets looked at ebita etc.
The RNS does seem low key but all regulars will be happy to see FB finally up and running. $1m per quarter average income from alluvials plus BE etc, $1.5m per q from FB once fully operational. $10m pa income even without Zambia or Bushranger. The market is mad.
Cyber, 3m per annum as you say is not to be sneezed at. It keeps the lights on, pays for all the admin staff, accountants and directors and enough left over to fund some exploration. All from alluvials.
Hard rock profit is essentially all going into exploration funds as alluvials already paid for the above.
5p has to be the basement sp here with so much going on. Wish I had some more cash down the back of the sofa I could throw in here. 12 months time, we will be nowhere near this level.
I dont see why this has dropped. Q1 are always lower numbers. I'm not too bothered on the wording of the statement on Fairbride either.
It would be an opportunity to now start adding more Fairbride pictures to the website. The videos of the mill turning..... dirt being added to the plant....gold evidenced on the shaker..... and personally I think it would be good to repeat the photo opportunity from first Alluvials production. Namely pictures of the early Dory bars and Colin holding them.
Also modifying the project synopsis on the website to show visitors to the website that this is now in the production phase.
'sounds like he wrote it on the bog' - Indeed, the company should take a look at what Empress did if they are lacking imagination!
If non fairbride production is running at $250k per month average per month that’s still a nice $3million pa profit and cash-flow
I’m sure there will be profitable output from fairbride over the next 3 months as it cranks up could easily be looking at $1.5 million plus net over that quarter for all of manica with a good weather alluvials quarter
I agree tho he could have made a lot more of the commencement lol
“Delighted to announce … will generate very significant profits … further future expansion of the field etc “ sounds like he wrote it on the bog
Anyone knows what the expected production from Fair Bride is?
'As at today's date, Fair Bride production has started with the introduction of low-grade ore to commission all parts of the processing circuit. '
So, after 5 years years of waiting for FB to come online a one-liner is all the effort Bird makes to inform the market.
Just retire Colin and let someone who can actually be arsed to put some effort in take over.....
Better than expected tbh. To compare like for like we need to compare with this quarter last year so a nice increase and it looks like we will put all our African production together together going forward in a single quarter release.
Rns out!
Nice to get confirmation of mine starting.
Revenue to be less than previous quater which was expected.
What a great, long period of opportunity it’s been over the last year or so, had so many top ups have lost count total number of shares now hold.
The resource has not only got substantially bigger, and now with multi systems, with ascot and the discovery of high grade gold veining, with Colin having to curb his excitement and for good reason. Not forgetting Footrot, as that too, has a good chance of being mineralised and add to certain district potential.
Each and every top up has come off the back of solid updates, particularly with the significance of certain aspects, the course that asset building is taking. Like, conceptualising the open pittable potential, along with metallurgy test work that is generally only done when mine planning and for financial evaluation. This should generally show investors the company have confidence that bushranger will be viable, and not just another asset parked up in the hope one day it will be sold. Even little pointers like changing the auditors, to a company that have over twenty years of experience in corporate transactions. Specialising in small cap with experience too of companies worth up to a billion. Jeremy Reid stepping down from the BOD to concentrate his time solely on the oz asset, the increase in shareholdings from director and major shareholders over the last year. I’m sure there are more instances that have shown how confident the company is that bushranger is going to be viable.
Many have bought trenches at 7p+, well over a year ago and obviously if it was considered then to be good value, how much more value has been added to shares, particularly since the retraction down to these range bound levels. The current share price is an absolute steal, potentially and historically held down with threats of further dilution, Fairbride running well overdue to start production the main driver of uncertainty, the obvious political and economic climate influencing recent downturn in most sectors, helping or not helping however you want to look at it as I’m sure every researched investor has accumulated to some degree at these low levels thanks to the above.
Now fairbride is well into its start up, the company must surely be on the cusp of rerating supported also with a huge amount of news from oz and first quarter revenues from Africa along with what are hoped to be decent audited accounts for last year.
These opportunities don’t come round often and with the gift of cheap shares still available it’s been a dream investment so far, and one that could have some decent longevity beyond the sale of bushranger.
its hard sitting on your hands after years of topping up.the wait goes on.
Something in the wind nice big buys me sees
I personally think a few of the sells this morning are actually buys which would explain the price rise and the lack of shares to buy.
Markeurasia still a decent buy.
Sorry no just the £1347 buy
Markeurasia! Are you talking about the 500k sell. I did think that has taken a while come thru and must be a buy and that explains the lack of shares available.
Possibly they were working that 514,999 sale that has just gone through.
The last sell is a buy as it’s mine
There has been some very 'unusual' movement on the share price lately. There were more buys than sells last week and the price still went down. One down day had about 85% buys. Now there is pressure upwards but apparently no shares available. Although the latter could simply be an MM not paying attention - the former is deliberate.
Maybe news is on its way. In the meantime
https://oilprice.com/Energy/Energy-General/The-Mining-Industry-Is-Replicating-The-Oil-Sector-Crisis.html
Something is afoot
I also cant get a low value quote on my x-o account. No quote for last 20 mins.
This is rare with my x-o account, not so much with H and L though
Ice,
Do you think this is a sign of coming events? And if so, what?
Also, while you're here, your last blog entry suggested. I think, the possibility of 3 or 4 porphyries in and around Ascot. Can you expand on this please? Unless you can see the metal content of the assays, what makes you think that the drill results belong to multiple systems?
Sorry, lots of questions but would like to know.
I don’t normally post this, but I just tried a dummy to buy £15 worth on an auto exec and got no quote available.
It’s easy to shout market manipulation, but if you can’t even buy £15 worth of stock (and you haven’t been able for a little while now) then let’s call a spade a spade.
It’s not even like it’s a big news day, with auctions all over the place, or lots of trades going through and the market makers are struggling to cope.