GreenRoc Accelerates their World Class Project to Production as Early as 2028. Watch the full video here.
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A decline shaft, so a ramp.. infact 2 ramps. You need 2 access shafts for safety and for ventilation. Decline shafts are longer but easier to construct and allow conveyors to extract the potash. The plan is to use continuous miners to drive these which will then be used to extract the potash.
There will be some blasting through a layer of harder rock.
This is the plan, but we await the full details.
But essentially a lower cost access method because of the relatively shallow depth and absence of aquifier.
How are they planning to get miners up/down 4km?
Thank you 99icecream and Tobin. This sounds relatively easy access to it.
For a potash mine this isn’t deep and importantly there is no aquifer that needs to be frozen to access the potash. This lowers the capex significantly.
1 mill buy at full ask just gone through
"Room and Pillar" mining method, accessed by a 4km decline (1 in 7 gradient).
I see on the EML website that the potash is 350m+ underground. How will this be mined?
Yes Bluepalace, I agree listing on the main market is more prestigious and also gives a company an air of respectability.
I had always assumed that we were on AIM as I have a few stocks in that category at present. I guess part of my assumption was based on the fact my purchase's (EML) has not been subject to stamp duty. Always thought ALL main listed stock attracted "stamp duty"
Quantum - agreed. Although remember that the company is listed on the main market of the London Stock Exchange and not AIM. This is important I think not only from a reputation perspective as time advances, but the company won’t be subject to the sudden and unexplained share price movements which you get on AIM. AIM feels like a casino. It is best to be out of all of that in my opinion.
My understanding is as things stand the mine is due to start producing mid 2022, obviously could be sooner then that or of course later dependant on how everything goes between now and then.
when all permissions are received, how long will the mine take to construct to the level of commercial realisation ?
JR - as you say, EML should have no issues obtaining the mining licence as the company has good relations with the government, and Morocco is a country that wants to promote foreign investment. There is also very little red tape for mining companies in Morocco, unlike building a complex and expensive mine under the North York Moors. Comparing SXX to EML is stupid. Not sure there is one thing in common - except the fact they are both mining companies. share dilution will probably happen at some point for EML - although remember the debt finance offer - this could make it minimal .EML currently promises an excellent return for investors. Hold tight and I am sure you will be rewarded here.
Also the price forecast is based on existing shares, any dilution would obviously affect the SP.
Probably quite alot, but you are allowed to be positive over here so at least thats something for mental health.
Yeup. what could possibly go wrong .......................................................
Different management in charge of this project though thank god!
Yeup, same as Sirius, second phase was in the bag and all bond/debt funding, that was pretty much a formality as well.
I believe that is is due to be granted this year, by all accounts it will be a formality.
Hi.
As a refugee from the SXX debacle I thought I'd just look in here, I see share price forecasts of £2 +.
I've not looked recently but last time I did this company was still after a mining licence, I take it has one now ?
Hopefully this stays of radar long enough for me to top up , can’t fault the way they have gone about there business this last 12 month at all. Gla dyor as always
https://www.youtube.com/watch?v=0CcVAVKSa_8&autoplay=1
Spent a couple of days researching this one. Decided to add to my pf, so picked up 100k shares this morning. Mate of mine on another bb said to look at the videos on YouTube so put up link. Apologies if already posted before. Best of luck to all
Could happen this year, latest next. All to do with BFS, and funding. Neither is far away.
Just taking a breather.
People taking profit( too early lot more to come) which is all part and parcel of this game, soon be on travels again.
Taken a small position here today and will add as and when I can. Looks like a decent medium term investment.
Sorry JR i didn't notice that Aimbagger had actually included the Emmerson tweet as well.