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Colin was saying something about the cost to process is now down to about $10 per tonne.
At 0.1 cut off you are breaking even.
Better to process the ore and break even than spend $5 to remove waste and dump it.
This brings back to the consultants saying bushranger is dependent on processing this ore.
Look at the images on the latest jorc and see the amount of mass 0.1 and above.
I'm convinced the guys have managed to get bushranger economical to mine and we will see an NPV over 500m.
Just my opinion.
"It's frightening to think that the very next RNS could literally make or break the future of the company"
I may have got this wrong, but I don't see it that way - well not news that will break the future of the company. Even if the economic model shows that copper has to be say $9K or $10K a tonne, I believe that will happen within the next 6 to 12 months. For clarity, I don't expect the model to show POC needing to be higher than $8.5K
Worst case imho, we may need to park the buy-out for a year or maybe 2, and wait until copper price goes up.
As others have pointed out, the near surface 0.6mt (191mt x 0.33%) just from RC will pay off all capex and leave a good profit.
It was for those reasons, that I have added another 500K shares over last month (100k x 5) and will keep buying 100k batches up to total addition of 1m by March - assuming sp stays sub 2p for that long.
Previously I said I would not buy anymore as I've already got multiple millions but I didn't expect the shares to be this cheap ever gain !
January sales are still on... but for how long? :)
DYOR I may have got this all wrong - but I doubt it.. FB profits alone, should see sp substantially increase
Sorry... that should say Opex over life of mine.
Anyone here know if capex reduces with length of mining?
Major costs for capex and opex is equipment....this equipment is maintenance and replaced but most of this equipment has a expected life of more than 9/10/11 years.
Anything for shareholders in all this ?
That was the point that CB was trying to make in recent podcast lucky, the remaining open pitable resource at 0.22 processed down to a 0.1 cut off will only carry its own variable operational costs once CapEx is paid for. Not too dissimilar to what Bollidens Aitik mine in Sweden is mining. $200m was a rough figure of annual ‘profit’ from the remaining 15-20 year mine life if recall correctly.
If it wasn’t for the high grade cores the project would have far less chance to be economically viable.
On multiple readings of the rns it does feel like they already have an idea and they are trying to show you. It may be that the deeper stuff isn't as lucrative but with a capex already paid for and a banked profit after 4/5 years!! I think we could be onto a saleable deposit.
*we can't - 'I know we can believe what Bird states anymore' :)
Lucky520 - Funny you should bring that up, I listened to the latest Roast podcast gain last night.
I know we can believe what Bird states anymore however he does say the near surface section of the mine will have a life of ~11 years. He also states CAPEX would be paid off in around 4/5yrs.
Hopefully we can expand on the near surface deposit in the next 6m or so.
· The copper-gold mineralisation at the Ascot Prospect comes to surface and contains a higher-grade section of 34Mt @ 0.33% CuEq, reported at a cut-off of 0.2% CuEq
· When combined with the shallower higher grade zone previously reported for Racecourse, this gives a total of 225Mt @ 0.33% CuEq of potentially open pittable mineralisation for the Bushranger Project
Above is taken from the latest RNS.
The 26th of July pit study had an opex and capex of approximately 6 billion aus dollars which is approximately 4 billion usd......the shallow open pitable area is approximately 7.5 billion usd worth of copper at $10,000 a tonne.
So just the shallow area can pay off capex and run at a profit of approximately 3.5 billion.
It's frightening to think that the very next RNS could literally make or break the future of the company and with it our hopes and dreams. I think I need to lie down for a few hours or even weeks. The stress and strains of last year are beginning to tell. Will this year be any better?
https://www.listennotes.com/podcasts/the-sunday-roast/s4-ep140-12-stocks-for-the-xTADE6N9l1I/?_gl=1*13vh0mz*_ga*bHBIcjNjRmp6Uk5hUXYzejBIbWZZbE5yYjFuLXJCb2IxYU1JdE5DY3pmUWZldmdpU01tTEVESi1FMUhRdWZmTw..
Hi ZM I’m no doubt being really naive in thinking the roast boys have any professional integrity to uphold lol
Cheers
Howezap ... "So it’s expected really that the roast boys have dropped xtract as they too, probably feel they have been led on as there were keen to get it sold comments. So to promote it for 23 against the markets reaction would show bias and smack of partiality. Not great for their credibility."
surely your are aware that the Sunday Roast (Roast PR) is a PR company and it has clients for whom it issues PR. XTR is such a client. Bias and hints of partiality are integral to the PR agent/client relationship!!
Apparently there's a complimentary series being produced, " Turkeys for '23" , ;)
....if Carlsberg did quarterly gold income updates..
...they would probably be on time...
Precisely. I’ve had to sell 15% of my XTR holding in the last 2 days, at a 65% loss, as I had to cash in to pay bills. It was tough to do. That will teach me to have been substantially overweight in XTR. Though, to be fair, my other investments are showing big losses over the year too. Hoping for a better 2023.
True enough Andrew - I guess is it that time of year that the taxman comes calling too! (if you're self employed)
Gixxer
If anyone had inside info in Oz I suspect they would have sold much sooner and at a higher price before collapse. Volume very low and really not many sells. I suspect its a panic sell by PI who has lost their bottle or needs to pay bills.
Even if you discount Bushranger and give it zero value its doesnt make sense to sell now (unless you need the money) as FB income will be worth more than current MC.
....if Carlsberg did quarterly gold income updates..
An possible alternative and more positive reason for the delay is that Q3 and Q4 results were so good that, along with FB gold production, they are having problems in storing all this gold now. They are trying to sell it on as quickly as possible but cant sell it quick enough due to massive amount so can't officially record the accurate figure for Gold income.
I suspect we are probably at a few hundred million $ of income by now for FB, Q3 and Q4 and we will be waiting until all gold sold and payment made before any announcement. That maybe about half a Billion $ revenue for last two alluvial quarters + first FB income.
I did say it was a more positive reason for the delay and only a possibility :)
>>So think we can probably expect a interview tomorrow, let’s see
I don't think it will be an interview with CB. Kevin also stated: 'No it’s our twist don’t get to excited !' With reference to someone expecting news inc
Got to be ~£300k's worth sold in the 200/250k batches over the last couple of months. I'm beginning to to think it could be the chaps down in Auz. (which is worrying)
Anyone recall how many shares they had?
Ok I admit I am feeling glass half empty or maybe the glass has a hole in it ... bit of history on production results where they were issued late
Q1 2020 was the first real delay in production report 27/5/20 prior to this they were within 1 month +/- a couple of days - 50% reduction on prior quarter
Q4 2020 released 26/3/21 - 50% reduction from prior quarter
Q1 2021 released 2/7/21 - 30% reduction from already poor prior quarter
This one was comical ...Q2 2021 released 5 Oct - not particularly strong but then hot on its heels the very good Q3 2021 released 14/10/21 just 9 days later !
Q4 2021 was quick and had good results it was released on 18 Jan then 25% reduction for Q1 2022 only released 22/6/21 and then Q2 2022 a further 30% call released on 30/9/22.
I know there's been Covid and I know some quarters have rains but there's a theme here.
Not sure that they would batch up multiple quarters but there will likely be some narrative in Q3 results to try and spin how things have been better since 30 Sep 2022.
I have no idea why Fairbride is taking so long in getting to commercial production. Would be interested to know if there are production targets in the royalty agreement with Empress who incidentally have a first charge on certain MMP assets...
The picture shared a couple of days ago by Empress surprised me a little as it looked like the Marie Celeste. I guess the pickup in the car park belonged to the drone owner who took a trip out there during the Christmas shut down.
I hope the process to export and sell the gold has been completed which had caused Empress a delay in declaring revenue from Manica in their recent quarterly update
"Is it too soon to be asking about Q4 results"
Good point. I wonder if the strategy is now to batch up last years Q3, Q4 and release with Q1 2023 and Q2 2023 in one total figure - so they look good :)
In all seriousness, it would seem that they are going to release Alluvial results with first declared FB income. I suspect Q3 results were not great so they will be included in the much more impressive FB first income results?
I can't believe they have not got Q3 results by now. They must be holding them back.