Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Wow, so they paid 12.55% of 2016 spot, if they used the same calc here with gold at $2100 they would have to pay $263/oz... base case on the JORC resource of 1.74m/oz would value it at $457m, however based on the 6.7m/oz defined by the GSI it would be $1.4b.
Looking good to me
I looked at market comparables.
degray mining. aussie deposit. Slightly larger resource, lower grade, no by products. 1.3bn usd
greatland gold: aussie deposit. 30% interest in project. underground mining up to couple of km so harder/expensive. 350m gbp.
Just read an article ..(bit out of date feb 2016!)
Vedanta won India's first auction for gold mining..they paid 12.55% of Indias Bureau of Mines gold price of $1087 per oz.
I have email from ceo. He is OOO until 18th with limited access to email.
Nothing will happen until CEO is back in office so time to chill probably for 2 weeks.
If you email him you will get same response :)
I think in an rns pat said noa in qtr 1 ..so anytime now.
No way they would hand it back after all this.
So that is why i think we might put damages in soon
Notable that it's being sold as a mining license, tells you everything you need to know about their plans going forward.
£18k registration fee to access the docs - presumably they will have to disclose the size of the resource...
I am trying to ask lcm if the bid would have any impact on claim. But moat likely it has to be no comment
Maybe or maybe not Etj...they might keep the winning bid private?
Auction is 8 weeks today - that'll come around quick enough. Am expecting an update from PAT before then, but equally I wouldn't be surprised if the NoA is held back until after the auction, as there will be a definitive value on the prospect by that point.
Unrelated but there is a lot of buzz around Enviva currently. The market is pricing in bankruptcy for next week, 20% short interest.
A lot of their shares are held internally or by institutions. If they don't go bankrupt on Monday, those shorts need to cover, and there aren't many shares to do so.
If they go manage to not go bankrupt, there should be a short squeeze next week.
The best case is arbitration in my opinion. Who wants to work with a government that's spent nearly 20 years cutting you off and betraying you? There's no trust left. If Mark Bolton of all people couldn't get a successful negotiation, there's no point.
If by some miracle they granted the license, they'd find another way to cut us out. PAT need to get the money via arbitration, and say goodbye to Bhukia.
This is a wait and see job.
Yup gov might be seeing bids, with view that they have dialogue to settle it for say 50pct of what we get.
Too hard for me to spend energy on it. Worst case is arbitration
Not sure we can read much into it. You need to look at auction papers.
Journalists will not be digging that deeply into it i think
What I find interesting, the times of Indian in there first article a few months ago gave us a bit of a kicking in, and talked about the litigation .
The articles since don't mention us at all.
I have my own theory on this , but it's only speculation.
Faskens are/naybe doing a great job behind the scenes negotiating.
Yes, Nice spot @deck
https://mines.rajasthan.gov.in/dmgcms/Static/files/NIT%20of%202%20gold%20blocks%20dt-06-03-24.pdf
Great spot Deckchair, very much on the ball :)
Many thanks for this.
We can look forward now to them releasing the damages claim. :)
Do you have the link?
Morning everyone.....I understand tender documents are available on the e-portal until 12th April.
Auction to be held on the 2nd of May.
I currently have no confirmation in quide price.
Well done. I am only here recently just about a week
Hope everyone finds the right strategy for all and we keep sharing. I will feedback on anything i learn on the lcm call.
If they do not answer on the day they normally answer it later ( couple of weeks). And post on the website
The price of gold is flying at the moment.
£2,137 an ounce.
I have been here just under 12 months.
My average is around todays buy price.Happy with that as we know not much of that is given to Bhukia.
I have accumulated for the way up or early settlement.
So I have a decent amount I can sell in small amounts over a 3 plus year period ..hopefully (or ideally)if the sp hits 30p plus.Then be left with a decent amount for hopefully a special divy up.
Or if we get an early or partway through arbitration settlement a possibly special albeit lower dividend.
So either way I think the reward for me would be give or take the same.
Plus let's not forget with a special dividend we still keep our holding!
Btw lit.l the funder is very interesting
Market cap of 110. Have invested 65m ofnown cash in cases.
They ask for multiple on capital and get performance fees. By time 400pct profit for 2 yrs. 600pct profit for 3 yrs etc.
Won 90pct of past cases.
They had a i think around 75m gbp of cases at mature stage so with luck market cap might be equal to cash invested in cases in
Same as you @EJT.
I've 6 days from being in here 4 years... and aim to de-risk at the first sniff of a re-rate and then let the rest run for however long it takes..... well..... thats the thought process at the moment.
At these prices I'm slowly accumulating... Bitcoin profits might have to be bunged in here....
GLA whatever your strategy
PK.