The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Re FB...
"producing gold towards the rate we expected"
That word towards tells me we are not getting what we hoped for.
RE BR...
"I'm sure we will see copper at 10,000"
Looks like we need it at 10000.
I got the impression he deals a lot in Africa simply because he likes it there.
Great business model...............
Pete
I don't think its just the failure of the 2mt that is blighting the mood or making some cynical, its all the many other failed time lines and outputs over the years.
All implied / stated in CB interviews but didnt happen. ie:
This wont be a death by a thousand lashes, if they offer me 10p I'll tell em to keep it, we dont need to worry about the grades etc etc etc
Many like me, will now only believe the actual results in an RNS - not words in an interview.
To be fair to CB, things are improving. He's just done an interview and the sp has NOT fallen just after it :)
Thanks Andrew for posting the Sunday Roast link.
After all my years of investing on AIM I thought I was the ultimate cynic !. The podcast does sound persuasive across the board of companies. That promise of RC 2m/t of cu seems to be blighting everyones mood unfortunately. And in a lousy market even producing gold not reflected despite the rising gold price !.
You would think that the "experts" would have included this from the start?
Either that or a delay tactics.
Who knows, all smoke and mirrors!
I would hope its not as bad as that.
It may mean the model parameters are changed rather than starting all over again at point 1.
Well that's what I think and hope it means
20:18
"We've paused because the inclusion of ore sorting will rEquire a complete re-look at every single aspect"
So back to square one, AGAIN !
Roast interview
Assuming anyone believes what he says....
"All issues sorted at FB and producing gold at a rate we expected"
So does that mean we are now producing in the 80kg to 100kg a month as previously stated??
https://audioboom.com/posts/8266492-midweek-takeaway-with-colin-bird-executive-chairman-of-glr-xtr-afp-bzt-and-ken
FB at 9mins 35 sec in
Bushranger 18mins in
All sounds great...if its true :)
Now above $2K and flying.
Must be good news for FB income.. whenever that gets announced
Just going back to the website upgrade, I believe the omission of the updated RC resource and ascot MRE from there is just down to not having the updated conceptual, with financial study in place to give firm economic support to the apparent reduction in average grade with the increase in resource since the original 71mt. Which imo would not show the updated resource in its best light.
The only reason the JORC were updated was to present the data for conceptual study to see where it can be further optimised. So BR ‘may’ get an update on the website after the full conceptual study comes back, but it could be, that they may even wait until after ‘all’ further work is completed with a PFS in place when truer realistic and less speculative values can be shown.
Would you update something that is not going to show it at its optimum and will change and improve further anyway?
Caerus were planning on focusssing on southern Africa before MC was given the boot as CEO. My biggest concern is what the incoming Caerus chairman implied about him.
At least there does seem an effort to improve presentation across the stable of companies with website improvements. Just hope with all this geological expertise within the companies success will follow.
MC was also at one time CEO of Caerus who had a joint venture with Bezant, which came to nothing. Check Caerus and Bezant RNSs.
I do not question MC's background as a geologist.
My point is that he is MD, an executive director role, in another CB company, Kendrick Resources, which is Nordic based, whilst working in Africa with other CB companies.
Wonder if he was involved in Eureka?
He is a consultant geologist! He wouldn’t be a very successful one if he wasn’t open to being ‘thinly spread’
MC may well be a Geologist and consultant with 40 years experience but how does africa equate with the nordic region?
One possibly, both, big questions?
Another Colin, thinly spread, or just jobs for the boys?
Hi Ben
>>….Eureka removed from the website completely. It seems Colin does just like the latest toy to play with and that it Kakuyu at the moment. ?
Arguably a fair point you make, but one the could simply be based on the economics to deliver greater returns in the short term. After all, the KPZ deal for Eureka is or was a rigid 50/50 split, whereas the deal for Kakuyu with Oval mining and their partners, who hold the license is for 60% of net profit from mining operations, increasing to 70% interest accruing for any additional mineral resources discovered during the course of Xtract's exploration programme.
At face value it looks a far better deal giving xtract greater control without the potential incompatibilities that can occur with the funding and expectation problems between 50/50 JV partners that may also have different profit/outcome expectations.
Kakuyu is well understood and in a fertile area that the geological team including Martyn Churchouse have obviously given it a thumbs up. MC is a Geologist and consultant with over 40 years experience working in the mining industry now MD of CB’s Kendrick resource.
Now the company are potentially self sustainable, the next leg up will be determined by its ability to maximise further growth potential without the risk of stuttering or stalling that momentum due to JV partner incompatibility.
Who have just had to give away 20% of the company for ongoing exploration btw Ted.
We are “down with that sort of thing” here now Ted
FTF was referring to ‘Collective Mining’ who have recently released a good drill result from one of their porphyry projects in Columbia. He is being his usual self in bashing BR……..in Australia with just one drill hole. Yawn
Andrew4444
On the same page I think
Thumbs up!
https://www.youtube.com/watch?v=-ea3ERJmURw&ab_channel=FoteMachinery%28FTMCompany%29
Jezzoo
Completely agree.
I wasnt trying to excuse Cb's failures but point out that as disappointing the SP is , there is still an opportunity imho, to make a good return here.
Whether thats down to CB or a fortuitous very high POC is another matter :)
Probem with that is I didn't invest here for the long term, I invested for a couple of years maximum as per Colin's guidance in the beginning, including maybe 100% for that "Colin" factor.
We have been misled down the path of a thousand lashes.
The only upside is hopefully there is an upside.
Pete
If Africa comment includes FB then Iceberg is clearly wrong about that assessment.
Whatever income FB produces for us, and it may well be less than CB's guidance, it will be transformational for a small co with such a low mc.
If the world recession means POC is not going reach the very highs soon, then POG will no doubt be going up inversely to POC.
What I'm not sure about is the timescales for this income - could be substantial by June or it may take until late Q3 ??
This is now a medium to long term investment imho.
I didn't get the impression he was the type to 'lick his wounds' - He also actually stated that he was just too busy with work to post or do any research.
Shame, as his input would be valuable
Iceberg stated back in ‘21 he would prob sell when the JORC was updated, surely not just yet as I believe on recollection, his average was around 4p back then. The JORC will no doubt be updated again at the end of any
‘further’ drill programmes as they will want t include all additional ore before the next study comes out.
I don’t mean the one we are waiting for now btw.
I’m sure he has just gone quiet for now whilst licking his wounds.