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With a resource increased, MCM would attract Institutional investors next week
Sp is too cheap!!!
As a result of the above, Makhado would produce an average of 880,000t per annum (tpa) of HCC,
compared to 540,000tpa in the BFS (an increase of 63%), while thermal coal production increases
from 570,000tpa to an average of 650,000tpa (an increase of 14%) during the first five years of
operation."
HCC 880,000t x $300/t = $264m
thermal 650,000 x $120 = $78m
That's per year for the first 5 years. Think about that for a minute
Monster assets and funding imminent with - $22 million in the bank
EDL has had loads of problems which is why it's only valued at £3m. It now has the biggest coal miner in Africa as a partner with 50% holding of EDL. Market has not caught on yet.
What a pleasant rns to go into the weekend.
more coverage over the weekend and next week we should see bigger rise
Go high
yes this is undervalued and under the radar company
should see more buys coming.
news still not reached many.
Massively undervalued
EDL revenue is tiny £133k
#Mcm revenue £20m
no comparison really
MCM is big company
EDL is like Artisanal mining
This should bag in the next few sessions
You should look at EDL. 143M tonnes JORC compliant coal in Tanzania. They have a new multi billionaire partner QGC. Biggest coal miner in Africa. Mcap £3.3m. Should be 10 times that.
Massive Rns missed by many because of lunch break
afternoon session would take this to higher levels
year high 38p
now under 10p
GLA and Dyor before its too late
"MAKHADO PROJECT - SIGNIFICANT INCREASES IN MINE LIFE AND COAL RESERVES - ... 100% increase in coal handling and processing plant capacity, from 2.0 to 4.0 Mtpa" ...
RNS:
https://www.londonstockexchange.com/news-article/MCM/trading-update/16022639
RNS just out:
https://www.londonstockexchange.com/news-article/MCM/trading-update/16022639
Improved production metrics:
§ a 100% increase in coal handling and processing plant capacity, from 2.0 to 4.0 Mtpa; resulting in
§ a 30% increase in planned annual sales of 64 Mid Volatile (Vol) steelmaking hard coking coal (HCC) to 0.81
§ a 25% increase in the targeted rate of mining from 3.2 to 4.0 million (M) tonnes per annum (Mtpa) run-of-mine (ROM) coal
...
MAKHADO PROJECT - SIGNIFICANT INCREASES IN MINE LIFE AND COAL RESERVES
MC Mining Limited (MC Mining or the Company) is pleased to announce the results of the updated Life of Mine (LOM) plan and Coal Reserve estimate for its fully-licensed and shovel-ready Makhado steelmaking hard coking coal project (Makhado Project, Makhado or the Project).
Highlights:
· the updated LOM plan2 demonstrates a significantly increased mine life (+27%), at a higher annual mine production rate (+25%) and results in robust project financial returns, whilst using updated conservative cost, macro-economic and coal price assumptions;
· Proved and Probable Coal Reserves estimates, reported in accordance to JORC Code guidelines[1], have substantially increased (+53%, from 69 to 106 million tonnes (Mt)[2]) as a result of the detailed mine designs completed for the East Pit deposit in preparation for mine start;
Massive Rns out!!!
The Company continued the Makhado Project composite funding initiatives during the quarter and anticipates that the balance of the funding will be concluded in early H2 CY2023.
Don’t expect anything today, personally can see the the date moving again at quarterly results end of July to H1 2024.
Some as mentioned good news would be welcome.
Big jump in European Gas (+21%) and Coal (+15%) prices today. Hoping for financing news by end of this month.
Seems that this share price is doomed for eternity.
True, very true, price is not as volatile as thermal coal in recent past and we have lots of it.
The market needs to wake up to fact that we're a coking coal producer, which has a $200 premium over thermal coal. This might not happen until everything is signed off.
Quarter report says early Q3 for funding so ties in, but as we both unfortunately know dates in the past have meant little, performance rights reissued and dates kicked down the road, that said work ongoing on the ground, nearly new board and ownership.
Looking forward with slight optimism. Situ