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Copper 360 has gone from 250 to 400cents in two days. I'm sure it will come down but I'm expecting the same performance from Jubilee when they announce their 1000T per month.
The funny thing is that currently Copper360 have only produced 130T.... we been doing triple that the last 1 and half years.
Thanks HD43
Gotreal
All it shows is that it is better to claim less and rather over achieve than under achieve production.Leon was guilty,in his enthusiasm of promising too much. It was a bad mistake and that is why the share price is so low
2 years to build and commission and another year to get copper out of it previous management didn't exactly cover themselves in glory there. Is there any wonder there was a reverse takeover looks like they have got their act together now though.
Profitable and less than 700 mill shares in issue. Looks promising for them.
They began building plant in 2019: "Cape Copper Oxide started construction of the copper processing plant on 12 April 2019" https://copper360.co.za/about/
Is it 5 years Gotreal? Says it was a reverse takeover of Green Tree and formed in Nov 22. No idea how long it has taken them from deciding on this process to getting there though. Never heard of them until today.
It does actually say concentrate in the quote they aren't claiming it is copper.
That's 1,000 tones of concentrate not 1,000 tonnes of Copper.... after 5 years.
"The plant is forecast to produce in excess of 1,000 tonnes of concentrate per month within 3 months – 2 months
ahead of planned production."
Took this from Moneyweb site happydays that is a pretty impressive start ahead of schedule as well.
Gotreal I am not getting into a slanging match with you. It didn't materialize when it was supposed they have changed strategy.
Whether it materializes at what they promised I have no idea lot of work still to be done.
HI Frog, the CEO mentioned the finance of the project in a recent interview, and themn yesterday in another interview he said the plant will be paid off in three months from earnings with a dividend coming next year.
So far the CEO is making good on his promises.
I'm hoping Leon will be saying the same thing :)
Never miss an opportunity do you Gray.... ? :) It will; it was de-prioritised.
I am also a LTH Dorfan and I had great faith in the tailings process which didn't materialize.
All I want to see now is Roan running at 1k/month as promised until that happens I am cautiously optimistic.
Also earlier in previous posts I predicted an sp of between 13.5p-18p for the next financial year based on Roan producing 12k next year, Chrome etc. Of course this is aim and Roan producing maybe well received and the sp could spike above that. Then again I could be miles out.
Does anyone know how 360 was financed?
HD, i think we have a big advantage in the modular approach. Pay as you go. This will allow continual growth without major upfront cost. I would imagine more and more players will join the arena, but there is plenty of resource to go around many players. I would also think the DRC, would be very suitable for the small mine approach.
As a LTH it is sad to see that all the work by Leon and co on getting copper up and running is so mistrusted by so many investors. But hey it is a wonderful opportunity for some investors to buy.Any bets what the price will be when the long awaited announcement that Roan is running comes.
How was it funded?
Yes. They have been listed for 1 year. They started building plant in 2019.
Ok, I'm been a bit hard on Jubilee or am i.
And they offering a dividend next year.
Copper 360 up another 11 percent this morning. That's 32% in two days.
They managed to do in 1 year what JLP has taken in 4 years. No wonder the share price is in the dumps.
Https://www.miningweekly.com/article/copper-360-ships-concentrate-on-course-to-pay-first-dividend-next-year-2024-04-24
Amongst other info, see last para: "The Copper 360 business is focused on processing historical mined copper rock dumps through a process of environmental clean-up, and mining surface and shallow copper resources."
They have moved very rapidly - I certainly wasn't aware they were also processing historical waste.