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Official Spread is 4.75 to 5.1, which is 7%. However, actual buys and sells are happening at 5.01 and 4.862, which is 3%. You definitely need a new trading platform if you are being quoted the full official spread.
I use II. I pay £20 month with 2 free trades and £4 for any other trades.
Should we be thankful? XTR is my only share currently still blue.
What a day on the markets
HL can be expensive with trades costing £11.95->£5.95 depending on number of trades in the previous month but the spreads are generally pretty good. Best of luck.
I need to get a different trading platform I was offered 5.1!
FYI ReasonMan I checked HL with dummy trades and real spread is less than 3% Buy 5.028 Sell 4.885
Was going to buy back in but there is over a 7% spread on the Bid Ask on this share, MM's taking the p*ss a bit..
@theiceberg, thank you.
https://www.juniorminingnetwork.com/junior-miner-news/press-releases/2902-tsx-venture/empr/122994-empress-royalty-announces-pre-production-at-manica-gold-mine.html
The preproduction phase for other projects in a few weeks. Empress said it was less than 4 weeks for its silver stream that went into pre production a few weeks ago.
Pre production is simply putting material through one stage at a time of at a reduced rate i.e 25% of tpa. Making sure it walks then steadily raising it. So a plan might be, first week production on a stage by stage process at 25%, second week full end to end at 25%, third week 50% , forth week 75%, then full production after that. Obviously revenue will quickly ramp up.
As Colin said it will take a few weeks to bed in.
In total, massive news that xtr now has revenue from a big first rate gold mine.
pPe-production sounds good news, but I couldn't find the term in the website of mining terms I searched. So what does it mean exactly and how long is there normally between pre-production and production proper - two/three months?
Empress Royalty Announces Pre-Production at Manica Gold Mine !! Email issued 12.32 today!
An RNS to back this up would be good for the SP
EMPRESS ROYALTY ANNOUNCES PRE-PRODUCTION AT MANICA GOLD MINE
Empress Royalty Corp. (TSXV:EMPR | OTCQB:EMPYF) (“Empress Royalty” or the “Company”) is pleased to announce that pre-production has commenced at the Manica Gold Mine (“Manica” or the “Mine”). The Company owns a 3.375% royalty on Manica, which is located in Mozambique and operated by Mutapa Mining & Processing LDA (“MMP”).
“Congratulations to the team at MMP for their hard work and dedication in taking Manica from a development stage project into a producing mine,” stated Alexandra Woodyer Sherron, CEO and President of Empress Royalty. “The Manica Gold Mine is our second development asset reaching pre-production and demonstrates our team’s ability to make strategic investments that create significant returns and value for our shareholders.
End of the day it doesn’t matter (unless it impacts XTR inflows, I’d be shocked if it does as surely this should been an RNS)
But why would empress give away there rights to a royalty on the satellite deposits that the agreement gives specifies they have access to?
Hi Andrew
My take would be that MMP will get 8% of the gross revenue from the GF and BE, they would then give Empress there royalty from this 8%, leaving MMP with a shade under 5% of the monthly revenues and empress with 3% (there royalty). So assuming the Chinese contractor perform it seems a win win.
Cheers
James
Colin did originally negotiate a buy out deal for Manica hard rock with MMP but that has now lapsed I think. We could keep the revenue from FB and maybe sell on the other stuff (since we are only getting around 13% for those).
From James' link:
". Manica is located in the OdziMutare-Manica Greenstone Belt of Mozambique and comprises of several deposits on Xtract
Resources Plc’s mining concession licence 3990C, which includes four deposits, being Fair Bride,
Guy Fawkes, Boa Esperanza, and Dots Luck."
This doesnt mean Empress have any involvement now with the other three deposits, but It seems strange to me that Empress mention the other three if they didnt think they would be involved with them in the future? Or had no intention of being involved?
Woodford also said the three other deposits they would be "going after”, so not part of empress involvement yet, but maybe they will try and do a deal to secure them?
All speculation until we get confirmation.
They do state them in that pdf (Gf, BE, DL), so maybe a little disingenuous to suggest there are 3 that they are looking at (since only DL isn't already being worked).
Looks like I'm wrong in expecting 3 new ones.... I'll get back in my box .....lol.
I wonder if Empress have fully grasped the implications that Colin involved Longhau as operators at GF and BE ? If I recall Longhau were brought in by Colin due to MMP not being in a position to generate revenue at the time which Colin wanted ? MMP did then agree to a smaller slice and allowed Colin to do that deal. I'm just wondering if Empress fully understand that MMP are getting a reduced slice from GF and BE. Just so long as any association that MMP has with Empress doesn't reduce our agreed take.
I’ve only skim read the conversation over the last few days so apologies if I’ve missed the point.
But looking at the empress RNS they clearly state the satellite deposits
https://empressroyalty.com/site/assets/files/6229/emprnr2022-01_manicaincrease.pdf
I don't know if it's already been mentioned but some time ago, probably a couple of years or more, Colin mention the possibility of other contractors in the area using our plant from the surrounding areas.
Don't know if this was a serious discussion or a throw away comment? I suspect that would be after we are finished with it.
Ant, I don't disagree with any of the information you state and btw that is an excellent summary at an ideal time for everyone here. I.e. we are going to be getting quite complicated quarterly revenue reports going forward and I doubt most of us will be able to decipher them.
My point about the 3 areas referred to by Empress is that they talked about 3 areas that they were looking at with MMP. I dont think they would say that if they were talking about 2 of tge areas being worked by other contractors.
Add that to Colins statements about their being so many things to look into at Manica with nobody fully understanding the geology of the area and their agreement with MMP to explore more sites to identify more feedstock for their new plant.
I'm sticking to my "hope" that Empress were referring to 3 areas not yet stated.... and my hope that they are on the XTR licence .
Exciting times .....
AS
I was referring to a drill rig on a truck, for drilling out samples. See website, Manica Project July 17 pic 10/10, I remember Colin talking about this being ours, either at investor show or an AGM?
something going on we do not know about... :-)
I believe XTR have/had their own drill rig down in Manica, there used to be a picture of it somewhere on the website, or at a presentation,Colin has often mentioned further exploration at Manica, actually it was mentioned to use excess cash from the raises last year, can be something going on we do not know about...
rns 29th aug 2018
I'm totally confused now as to who we have agreements with ! I thought MMP now had sole agreement with us for all Manica hard rock ? Are Omnia and MMP one and the same ? Come on Colin... spill the beans !