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to see our new directors buy shares when they get appointed and give the SP a lift.
Could this be where the other business opportunities lie?. interesting times ahead.
I find it interesting we have an ANTO man on our board
A number of business opportunities have been presented to the Company which are, at this stage, under preliminary, internal evaluation. I wonder what he means by this statement, could we be looking at getting another mine.? or a JV for another copper mine?
ANTO LN flying as Cu trades higher as GLENCORE and others cut capacity
Oversupply of Copper, oversupply of Directors, under supply of profit? Market dosent look very impressed at moment?
I think it is showing an industry move to cut capacity ... Glencore not the only ones to cut production ... Goldman thesis is based on oversupply
Is that expected to have an impact on copper prices?.
Glencore to cut copper production in congo and Zambia , 400 000 tonnes of capacity
Four jump aboard Rio Tinto revival: The company that has taken over the mine that gave birth to Rio Tinto is beefing up its board as it prepares to sell its first copper. EMED Mining, the AIM-quoted miner that has resurrected the historic Rio Tinto site in Andalucia, Spain, will appoint four non-Executive Directors, two of them independent.
I do believe that with other giant miners having dropped 50% over three months ... you will see some exit of EMED just for these other opportunities ... look at GLENCORE , BHP and ANTO ... people have been wiped out .... similar level to EMED ... so I can see people betting on this other names... they may miss the reserve news at EMED, when it comes . If they are looking will score +20% in the other names and then buy back into emed still at 4p .
The warehouse levels have been largely static recently. At midnight the LME inventory will drop again to 360,825 tons.
http://www.wsj.com/articles/copper-futures-higher-amid-china-holiday-1441284251
The company is now also drilling on site with the aim of growing resources and expanding the mine’s life. It said there has been “no relevant exploration results” to date, but, added that the areas being targeted have “significant potential”.
It will always be subject to finance but if it was not viable then they would not proceed. Scale is third to grade and copper price but it is the one aspect they can control. The desk top study for phase 2 will be released soon and then we will have a clear picture of the costs involved. I do wonder if the fleet is performing better than expected if they may go for more than 9.5 mtpa.
Climbing as we go ready for start of production
Thanks TL for the reply , while I read through the RNS I thought ok not a big lot of new info and a push on with PRT with the disposal of Slovakia and Cyprus(does this mean Harry A is out of a job) then my jaw hit the floor when I read 'subject to financing' ......... I thought .... not again .... how many more barriers are there! Cheers FD
I suspect that they will do all that they can to avoid that. The desired model is to self fund but obviously they need Copper to recover some for that to deliver within the time. It will be a call for the time, they have to reach the most efficient size as quickly as possible.
They will ramp up as quick as possible no matter what the price of copper. There is still plenty of profit and there are 100's of wages to pay that are only achieved with scale. With lower copper prices the need for more efficiency and pace is greater. The C3 costs will be reduced in the new study and even today emed can make serious cash.
Alberto states in the last para. of the RNS ... 'processing throughput of 7.5Mtpa, which we estimate shall be achieved by the end of H1 2016, and secondly to 9.5Mtpa, which we hope to achieve approximately 6 months later, subject to financing' Does this indicate more shares to be issued ??? FD
photo gallery pics removed ready for new pics
can only buy 25,000 today at 3.775 next offer 26,000 at 3,85 maybe MM,S playing mind games. wonder what the full offer will be tomorrow?
TL, Emed will come of age when the SPis at a reasonable level. It would be pointless producing lots of product if the price was still rubbish. Obviouslywe would all expect the SP to go North when we are producing etc, but that is not always the case. F.E.
Love the way when news was delivered yest. SP immediately went down to 3.50 before going up to 4 by close. So whoever is in the mix and has RNS info before it is published can sell early to keep SP suppressed. The only way this SP going up is if Harry comes back and is in charge of PR and the TRIFFIDS and associated companies are out! And oh yes pigs winging their way to sunny climes!