Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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DR now believes those costs to be 'considerably less' than the $15 million originally thought.
According to the Sep 14 presentation: 15 million USD for the stage 1 mine And $500k operating costs per annum (calculating this on the official $2 per dry metric tonne on 250T per annum)
DR was talking about US $300/oz margin after ALL costs, including royalty - even if they achieve half of this then profit on 20,000 oz is $3,000,000 per annum. If they do achieve $300 on 30,000 then it's $9,000,000 PA. So the 10,000oz target for trigger payment could deliver $1.5 - 3m depending on market values, at the lower end almost more cash than the deal cost in shares and start up capital. Can anyone recall the start up costs for Togo?
Hi all, been out and about busy today but managed to park up and listen in at 11.00am. Pretty much all my queries satisfied, particularly around shares issue - these are going to 5 members of the Auzzie mining company we are acquiring and they are committed for long term deliverables. This essentially means that DR retains control - the 2nd tranche of shares (paid at total value of £495k) are only given if we reach the 10,000 ounces threshold - if we get to that point, we are highly likely to be a significant premium to today's SP so the dilution effect will be considerably less. No Darwin pumping 93m shares on the market whenever they feel like it. DR sounds like he's on fire! I appreciate that he has always been upbeat (I actually admire his tenacity, given the last 12 months). The change of focus towards 100% cash generation and away from exploration IS MASSIVELY transformational. I guess there are still questions over DR delivering but he made a big point about ensuring that HE does deliver to these published milestones. He does that and in 6 months time we are a very, very different beast. Failure is still an option but at least we haven't got to wait much longer to find out! I've been in over 3 years now and the fact that DR has put his reputation on the line and also that the 2 Peter's have come on board with shares rather than taking cash, speaks massively of this being a success. These guys could have raised £300k to get this up and running without Ferrex (based on the finances of this) so they must recognise the same things in DR's added value as I do. DR was talking about US $300/oz margin after ALL costs, including royalty - even if they achieve half of this then profit on 20,000 oz is $3,000,000 per annum. If they do achieve $300 on 30,000 then it's $9,000,000 PA I'd cautiously suggest we are over the worst :) GLA
Link to today's presentation from DR to shareholders.... http://www.ferrexplc.com/documents/Ferrex_ShareholderPresentation_18-11-2015.pdf
And Chin up lano ;-)
Thanks much, fellas.
Thanks bj. Ive not been able to see or message much. I try and check in from time to time. Frx is in a much better place also now. Word will get round as more news comes out, so i feel we are all in good hands. Gla.
Yes, it seems the dog is finally waging the tail. DR is off to Togo this weekend for an update next week I understand so fingers crossed for another flashing dot.
It sounds very much that way sunny, was also apologetic over the silence lately, it really does sound like things are on the up. Oil will be out of his bunker before you know it :-)
Thanks guys, at least the gold situation ball is in DR's court rather than the other way around for the last year/two.
A bit more, Dr is back in Togo next week to try and find out what the hold up is, also lots of news flow still to come from testing in Australia. Their are good grades of gold and good deposits in the ground. All very positive and fast to generate cash, which seemed to be the emphasis, their will also be clauses put in with regards to the share dealing for this venture, seems as though chaffers are in it for the long haul though so doesn't seem like that will be an issue either
Week DR is in Togo .. no quiet weeks for us anymore .. GLA
It was mainly to introduce the gold mining in Australia, basically, their are numerous pits that have been partially mined and left so it's a matter of just digging out the ground and sending it to the processing plant, payment is received 28 days after delivery to processing plant, very low running costs and high Australian gold prices. Production to start in Q2 as stated, Dr was pretty adement this would happen as all in frx's strict control. Permit in Togo still on going and live, gold will pay for Togo. Also looking at the possibility of more gold projects in Australia. I've probably missed a bit out but am sure others will add. Hope this helps Jim
Hi guys. Due to work I couldn't listen in to the meeting. Could someone provide a synopsis of the salient points please?
All good and positive, fast cash flow and away we go. Time to build a bigger pot I think GLA
Wakey wakey FRX : GLA
2.2m over on ISDX .
MM's filling their boots, 42% spread! This share not for the short term.
Nice bit of volume, hopefully this is the start of it all, we will see, exciting times at last :-)
Price is getting pulled around, spread has opened and now .35p to sell.
Brilliantly thanks D .. Really hope everyone gets involved in the Shareholders Call @ 11am ... I got the impression that there was and is so much positive goings on in the background that if and when is announced to the market we are on our way to being a serious little outfit .. Gold alone next yr could give us a conservative Mcap of £25 mil..All meaning apart from the initial 300k needed to get Gold in the truck we will fund ourselves to a large extent ..I could defo see a real hungry attitude in Dave as if he is about to see a hell of a lot of his hard work come to fruition .. GLA
Watson, give that lazy Aussie a nudge, tell him it's time to get up to speak to his people :-)
How did the meeting go?
Gold Producer to fund further Acquisitions and fund other projects .. No bills to pay .. GLA