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I don't think the ore sorting was ever going to work, it was just a ruse to kick the can down the road in the hope that copper went to over $12k. Why did we get a report not long ago that made out it was viable and now it's not ?
You had better come up with something Colin, even if it's another Bullsh*t rainbow chaser, you need to drag in some fresh money to rinse again.
The only hope for xtr sp to go up substantially is news of CB finally retiring !
You've spent v approx $15m on Bushranger and the market currently valuing it at zero speaks for itself, Mr Bird.
It should now be obvious to a blind man that the coming months need to be about you seriously publicising Manica.
(I've been here for many years with Manica as my main area of interest thru that time.... it's now in its sweet spot...so show me a smidgeon of respect and go publicise it properly/fully from now forward please!)
Errr unfortunately its down a bit
12 months waiting, absolutely no effect on the SP.
EMPLOY A CEO !!!!!!!!!!!!!!!!!!
I think the ore sorting is not of much use is because, as it said in the ore sorting report, only the low grade material is worth sorting where as it seems, on first reading that today's RNS does not put much store in the low grade material.
Persoanally I'd like to see some low level in-fill drilling to increase the confidence of the RC resourse. I know that's not everybody's cup of tea but I'd like to get RC over the line and simply waiting for the copper price to rise seems like wasted time to me.
One thing Colin has been clear on is that he is not going to spend any more money drilling at BR in the foreseeable. To me that means until copper is solidly above $10k at a minimum - and I totally agree with that stance. There may be some further juggling of numbers and methods but its clearly worth zippo sub $10k.
On Dragon's Den they'd be saying "You've valued the company at £9.85m but it's not an investable proposition at this time because you've not currently got a profitable business model and you are making a loss. You need to refine the economics. So I'm out.".
Too far then, taking grade, haulage and processing fee into consideration.
"Having said that, how close is the nearest processing plant with spare capacity ?"
Cadia Ridgeway (owned by Newcrest) is 60miles away with same mineralisation as bushranger.
I don't think it's a walk away scenario Billy, it has a value but atm it's a busy fool with not a lot of profit one.
No harm in planning it though, at least if the Copper price spiked we could get funding or sell it.
It pays to be ahead of the game.
Having said that, how close is the nearest processing plant with spare capacity ?
Jezz we have spent too much on BR now to stop .
Watch this space
Billy; Yes that's possible I know but until the copper price gets to $10k min it's not worth it to me.
How much will it cost to go from greenfield to a turnkey opencast copper mine ?
Jezz RNS was comprehensive looks like we could be going to funding for the new route on BR
Mothballed until $11000/ tonne then, more lashes and the bow goes back in the drawer. Ore sorting was a bust despite CB making noises that it was looking good. Where now ? Oh yes.....Zambia.
"working towards the ultimate mine and operating plan that provides the best scenario for development of the Bushranger resource."
Its in the RNS........................
> Ricardo, you might be missing the conservative gold price in the workings - today it is way above 1900 usd per ounce. You might also be missing what is a Ton , i.e more than a tonne - but I don't know what they have assumed.
Thanks Taverham - I'll re-read regarding the gold.
Plus the aud/usd exchange rate which is better than assumed.
> Looks like we are going mining
I don't see that in the RNS. From the below paragraph we're still at the 'working it out' stage. Which is not in itself a bad stage to be at, it's important to do it, but we have more work to do before we can say that we're going mining IMHO.
"Larger deposits require significantly more capital expenditure and as such warrant considerable study and due diligence at an early stage of project development when optimisation can radically change a Project's fortunes. We are at this stage and with this in mind, the Company will continue with its studies working towards the ultimate mine and operating plan that provides the best scenario for development of the Bushranger resource."
So copper needs to increase by $2000 per tonne (25%) before Racecourse is economically viable. Is that right?
Ricardo, you might be missing the conservative gold price in the workings - today it is way above 1900 usd per ounce. You might also be missing what is a Ton , i.e more than a tonne - but I don't know what they have assumed.
RNS needs to be read 10 times before it sinks in. It answered alot of questions and at the same time it left alot of questions.
Large spread at the moment to deter. Haven't been able to trade since RNS
> The market likes the RNS? What shows that? No trades since the RNS as far as I can see...
LSE shows 8.7% up. Though it seems that should be treated with suspicion as other feeds show -4.3478% down! I have not tried a dummy trade. Apologies for taking LSE at face value - I should know better by now.
R2019
Looks like we are going mining and CB has just set out the stall