Utilico Insights - Jacqueline Broers assesses why Vietnam could be the darling of Asia for investors. Watch the full video here.
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It was a much more measured and circumspect interview. As some have said - more professional. The question is - is that because CB has now changed his approach or because he's trying to row back on his previous very bullish comments?
I said recently that it would just as telling what he doesnt say as does. No mention now of the 2mt or target date for open pit model. Using CBs poker analogy, the positive spin on this would be that hes holding his cards close to his chest. May be.
Again very little info on Eureka. Its always about to go into production or going to contribute to income soon.
The good news, and news that we can be sure about, is that FB will be in production very soon and by August income levels will be substantially higher.
IMHO Prospects are very good over next 6 months, but it remains to be seen if they will be as good as we were all led to believe earlier in the year.
Not had a chance to listen yet, getting the impression it wasn't overly positive and hopes of a sale to AA is not as close as some of us thought?
Personally I'm hoping that they will be used to prove up all that there is to find at BR. I know that's not everybody's wish but as CB himself said "we don't want to sell and then find 6 months down the line that further porphyries have been discovered" - or words to that effect.
Folks apologies if this is obvious, but will the profits from Manica and other assets be used for further drilling in RC and Ascot or will they go straight back into the pot at this stage to increase the SP, as the figures quoted by Colin seem fairly hefty sums, now the rains have stopped?
So what are we feeling is the goal of, say, Q3 and Q4?
Is BR something that will/has be sold as one? (I've been reading as much as I can, but still trying to learn more about this).
Will XTR explore more and more to sure up the copper and (more so) gold resource as much as possible - using Manica income to do so?
I wonder if CB was referring to our normal geo team (who are very good) when he made the comment 'and we've got some experts around this one'.
'I actually wondered if the burst of positivity and information a few months back in the interviews ' - I've thought that too.
Conspiracy theory: Was he trying to ramp up the SP, by giving a June completion date, to get a raise? - Obviously nothing he's said recently has moved the SP and a raise, at say 4p, would have tanked us.
Thanks Iceberg. The high gold prices certainly help. And given the poor market I doubt there was much appertite for a placing. At least not without a big discount and warrants.
* Clearly = hopefully, before older and wiser gets upset.
IB, I actually wondered if the burst of positivity and information a few months back in the interviews i.e. the 'not death of 1000 lashes' interviews might have been preparatory work for a raise but clearly Manica has convinced him not needed.
He's being as professional as I've ever seen him. - Agreed, long may it continue!
It was a good interview. Colin had the combination of being both very positive and yet cautious - or maybe guarded is a better word. He seems to have reached the stage where he no longer needs to be a salesman because he knows they have something special, and he also doesn't want to give potential buyers any more public information than necessary.
Final comment, I fully admit I thought there would be a raise back in March time, however there is little chance of this now.
Colin - bless him- would be shouting from the roof tops and being ultra positive if he though there would be a placing anytime soon. He's not. He's being as professional as I've ever seen him.
Even if you forget Bushranger exists, this company is about to generate circa 20% of its market cap per annum in free cash by sitting on its hands. You won't get that in an NS&I ISA.
@DrAim
So does Rick...
Covered good ground in just 15mins, the roast guys clearly keeping to a short sharp script. Convinced alot more happening in the background that cannot be said and therefore Colin keeping himself on a short leash.
He was very cautious in the whole interview imo...almost cagey,
@DrAim, stay on your on BB
Human nature dictates that some will fall for the rampers promises of 10p in a couple of weeks...
Unfortunately it NEVER works out that way - and the ramper has already left with his 5 or 10 %...
Still some hold onto the dream for months or years in desperate hope of getting their money back - not just here, but all over AIM...
1st sign of improvement here should be a change of BOD - we all know AP is just not upto the job of delivering shareholder value...
He's a cheapskate trying to get things done on a shoestring budget and ultimately the PI has to pay up...
Yep 100% Mr trotter.
He's simply separating it into two phases, the high grade phase which is essential and he's talked about it in the past. It's used to derisk. Then a second stage where they gradually expand the pit and deepen it. There still be high grands in this, and low grade, but the only cost will be opex so pretty much printing money.
Phase 1 , maybe 150-200k tonnes, phase 2 much bigger 1.5-1.8Mt. (All estimates obviously)
What's not to like eh Iceberg?!
Colin's interview is an exciting new chapter in a hugely enjoyable story.
The market will wake up eventually.
Modelling coming to an end (according to colin).
Manica next few days.
Alluvial good now the rain has stopped.
Cash prediction. From gold 8-10m a year still expectation.
Copper - kongwe and eureka blasting etc but nothing clear.
Latest geo physics good - but not realised yet.
Modelling is going well ' metallurgy going well.
Shame there wasn't much more info.
At the back of my mind its always been the grades @ Bushranger being the reason we are not already 30p...
Fuel increase will lead to further or nearly double processing costs... increasing cut off grades....
No doubt it will happen one day..but are the big boys holding back for this reason...
Can see it being a long slog....
GGP is 10 times the market cap...where would you have your money.. ??
Maybe GGP sp is depressed as the ore is so deep...
Funny market atm ..
SIPP long term ....
Not necessarily Matty, no.
Payback for capex within 6 years. There may still be plenty of "easy stuff" to go out, but it will be money for old rope (the same as anything at depth).
John.... just in case there is confusion.... near surface may only be 6 or 7 years... but open pit will be the whole of the model.
Thanks for clearing that up Iceberg. So easy stuff for 6 years and then a load more harder to get copper deeper down @ RC alone.