Stephan Bernstein, CEO of GreenRoc, details the PFS results for the new graphite processing plant. Watch the video here.
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@Barksy1 - Do you think there is a not yet disclosed big buy late in the day as 14.50 buy at 16:52 is a bit of an anomaly in the published trades so far..13.55 was paid at 16:28?
Or is there another explanation for it?
Would appreciate a clarification please as I am curious.
@Cause, it's only something that crossed my mind. We have 1.39Mt to ship and UNAMGEN are shipping 400kt. We'll both want to ship as fast as we can while the prices are high. I'm not sure if our constraint is at the port, or how fast we can move the ore to the port. Fortunately we know that both pier 1 and 2 can now take up to ~70kt a go, so perhaps capacity at the port is now a non issue? Just thinking aloud.
The mention of 400kt does seem to push the likelihood in the direction that the ore is not related to us @skinnyboy and is unsold stockpiles owned by UNAMGEN (Eldorado Gold)
@maddog - There was 230k more unsold in 2013. So that closes the gap on the 400k discounting any depreciation..
@Obs - :') Thank you. Hopefully your calculator gets some much deserved rest. If not for you and the calculator, me and I hope many others here would be left much less knowledgeable.
Also why do you think there will be a capacity constraint? And would this open up a possibility of reducing shipping cost by collaborating with Unmagen on shipping as it were in the past?
Apologies accepted @Cause ;-). And I had my calculator out ready to roll and everything.
so they've got some iron ore left to ship and have been waiting for prices to get back up above their cost price? otherwise why wait nearly 5 years to sell it?
Busy day
Date Time Trade Prc Volume Buy/Sell Bid Ask Value
27-Oct-20 16:25:15 15.15 200,000 Buy* 13.00 13.75 30.30k O
27-Oct-20 11:33:05 14.655 150,000 Buy* 13.00 13.75 21.98k O
27-Oct-20 16:21:03 15.00 250,000 Buy* 13.00 13.75 37.50k O
27-Oct-20 16:25:05 15.00 200,000 Buy* 13.00 13.75 30.00k O
28-Oct-20 16:52:58 14.50 10,000 Buy* 13.00 13.75 1,450 O
28-Oct-20 14:32:38 13.00 100,000 Sell* 13.00 13.75 13.00k O
28-Oct-20 14:32:06 13.00 100,000 Sell* 13.00 13.75 13.00k O
28-Oct-20 14:31:31 13.00 100,000 Sell* 13.00 13.75 13.00k O
28-Oct-20 14:30:43 13.00 100,000 Sell* 13.00 13.75 13.00k
Cause / were is the 400.000 tns
Apologies @Obs :')
2015 report says they suspended sales too.
A nominal amount of iron ore was processed and shipped in the first quarter of 2015 while preparing the plant for shutdown. No production was realized during the rest of the 2015 year, and sales and logistic activities remained suspended during the year due to low iron ore market prices.
Theirs
The question that's on my mind is will there be enough capacity at the public port when we ship our ore?
So. NO stock pile left to ship. It’s not their then ....
I was just about to show where the 400kt came from @Cause, but you beat me to it! Oh well...
Operating Data 2014 2013
Tonnes processed 806,082 812,003
Iron ore produced 693,714 700,857
Average grade (% Fe) 63.1% 63.1%
Iron ore tonnes
Sold 524,645 470,140
Average realized iron ore price $60 $99
Cash costs ($/tonne sold) 55 63
Financial Data ($ millions)
Iron ore revenues 31.6 46.4
Depreciation and depletion 4.9 4.5
Gross profit (loss) from mining operations (16.7) 12.3
Sustaining capital expenditures 1.0 4.8
Vila Nova processed slightly fewer tonnes at the same grade year over year. Iron ore sales were 12% higher than in 2013 as a result of increased shipments in the first half of the year compared to 2013. Shipments of iron ore were routed through the smaller capacity public port in Santana since the Anglo port collapse in March 2013. Iron ore prices declined throughout the year, ending the year below the net realizable value of Vila Nova’s inventory, resulting in an inventory write-down of $13.5 million (included in the loss from mining operations in the table above). As a result, a decision was made during the fourth quarter of 2014 to place the mine on care and maintenance. Iron ore shipments are scheduled to continue through mid-2015 until existing iron ore stockpiles are depleted.
https://www.annualreports.com/Company/eldorado-gold-corp
From 2014 report