Firering Strategic Minerals: From explorer to producer. Watch the video here.
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Well, nothing unexpected financially with a c£150k loss per month. Still believe we need to be at about 8k tonnes during the summer season based on those figures.
I'm disappointed there is little on future strategy and diversification though.
Nothing new then, it would seem that production is still reliant on their rust bucket washer, which, judging by the lack of up to date production figures, is not reliable, otherwise they would be boasting about how they are increasing sales.
The last day to report results as usual is never a good sign, it would be great to be proven wrong!
does it mateer??
they've got new management and funding now. *****o van den burgh of qgc is a multi billionaire.
does it matter?
they've got new management and funding now. *****on van de burgh of qgc is a multi billionaire.
Does it matter? I suppose the only answer to that is yes.
From pre production to production up to the present day, there's always been high demand from surrounding countries and within TZ, the out come has been consistently the same , the inability to fulfill contracts due to failure of the washer and failure to get the coal out of the ground. There's nothing in the RNS to suggest things have changed!
Further to my last post, the lack of info on current production and the running 2k tonnes pm. contract could mean another RNS might be coming shortly, who knows ?
You do realise van de burgh owns and operates 20 coal mines in Africa..
I'm sure a wash plant isn't going to stop him getting coal out of Rukwa.
I have no doubt that Rukwa will pay, but, not without further investment and, as the coal needs washing, reliable plant, that is capable of producing sufficient coal to get them over the wet season, something which they lack at this moment in time hence the failure to fulfill contracts which is why the stipulation to any new contract is reliability.
Does Mr van be B have a spare washer crusher, cos we are going to need it to make this profitable. I must have been saying they need another washer crusher for the last 3 years or so.!!!
I think that once the final instalment of the placing has gone through and the two shareholders are confirmed with their respective stakes then things will happen quickly to resolve any issues at the mine .
Wash plants, trucks, loaders, excavators, you name it. Everything for a mine to port operation.
Rukwa resource including the expanded licence is huge but little point in clapping until the equipment is on sight.
On site in sight would be good as well.lol.