Member Info for Adw198

It’s certainly not disingenuous but I’m happy to accept I might be wrong.

Can you explain for me why you think the required Capex for a specific mine build would cover corporate running costs, such as Directors salaries, office rent, Beutong running costs, the fess of Investor Relations, the fees for NOMADs etc etc would be covered?

Or are you saying these would shrink from previous levels to be nominal?

Genuinely keen to understand a different view here.

———

We can’t possibly have any guarantee / confidence when finance will land because by their own description it’s reliant on 3rd parties eg Banks due diligence, Off take negotiations (again presumably after diligence) and they also floated selling other assets or entering a JV. None of these things are quick let alone nailed on.

If you regard a short term 33% increase in the price of oil as conservative then you should put that car sales money into going long on oil mate.

Absolutely ridiculous

I’ve only myself to blame but I’ve ended up with a bunch of chancers here, determined not to talk specifics and realism. This is one of the worst boards I’ve ever come across, especially in terms of the calibre of the vocal bulls(hitters).

I can’t wait to get out of here once the production RNS comes, although I reckon we’ll also need the elusive PC deal to get over 3p

A “conservative” $100 oil price - jesus wept

I might be wrong, if that’s the case I’d benefit from hearing his motivation for producing the content? Perhaps he’s invested?

My belief is based on the link you shared containing this statement “We may receive compensation for research”. His one sided fawning research notes and interview support that belief.

I’m here because I suspect / hope the DOID takeover is for more than the current price. I certainly don’t think Asiamet will be fronted $150m to take this to production, but again I acknowledge I might be wrong which would be a better outcome.

Can you explain why you said “Any concerns about financing now should be put to bed, the above two groups have way more insight than any of us” just because we diluted again?

Some good detail there, I’d missed the slides yday. Buts its paid for PR and needs to be treated as such.

Like you, it acts as if project financing at debt, equity and off take is guaranteed having been dismissed previously. In any case the corporate costs will need funding before copper is produced so lots more dilution to come, even at best case.

Please be precise. Which part of what I’ve said are you angry about?

Please identify when they are forecasting the money to be handed over - I couldn’t see it on that timeline. I doubt first phase approval is final approval - so you fill me in?

We didn’t get passed first base last time. That was despite the earlier involvement of the ITE to fast track the financing process. So forgive my scepticism and lack of deference to Asiamets ability to deliver financing given this is now the 3rd FS they’d tying to get financed. No JV partner has wanted it, hence apparently now all about bank deb and off take. No creditable imo. But even if I’m wrong 2027 is a long time off with our yearly bills to pay. And you’d have to be at best naive and at worst a paid ramper to believe we start producing in 2027. Note how the RNS didn’t give a date for when finance would be approved….

“Any concerns about financing now should be put to bed, the above two groups have way more insight than any of us”

That’s bold, given this time last year we were told initial credit approval was targeted for last xmas. That obviously got laughed out of the room, hence another year of re works, dilution and promises of manjana. We’ve got optimisation works then revised capex / opex costs to work out before we can try again. How much less copper we’ll be producing isn’t yet known.

And do you really think a bank / offtaker will front $150m to a company like ours who needs $4m a year from the market to survive? Absolute cuckoo land imo.

@proquo

you’ve claimed “h2 looking good from testing. looking forward to the flow rate in the next couple of days” - what testing do you mean, the initial drill? and why do you say the flow rate will be this week as opppsed to the company telling us early november?

you also claimed “agreement with pc is with the mongolians”. what makes you say the agreement has been produced and agreed with both parties?

also, (politely) do us a favour and take your beef with espen about another share to that board please. i’m sure we’d all agree there’s enough **** on here as it is!

Morning folks

Production not a shock but as mentioned I advise a more realistic / conservative approach next year, rather than giving guidance which needs everything to go well. The AISC is superb and assures a massive margin and it’s not like the production downgrade is missed profit, simply deferred.

Bit unsure why no drilling results from Douta, I thought they were pending?

As others have said unlikely to move until the Osun issue is resolved. If / when it is, we’ll be debt free with a Douta PFS and hopefully a plan for Segililo

extension. If gold is still flying it would then be absurd and seriously rerate.

Key short term catalysts (and thus risks)

Putting H1 on production

Deal to transport and sell

H2 results

H2 potentially on production

Further Gobi result

On the Macro the price of oil can be added.

I’m hoping / expecting the first 3 will be positive and that will lead to a power move in the SP. I’d be (pleasantly) surprised if Heron is producing this year and Gobi reveals anything materially positive.

Medium term I’d need to understand more around drill costs and producing revenue to form a judgement.

So is H2 having deferred costs in exchange for profits? If not, why not as you’ve claimed that’s the agreement? Despite no RNS confirming that’s been approved. Anyone else?

05th December 22

“Negotiations with DQE Drilling ("DQE"), the main provider of drilling services in Mongolia, have continued and a contract for a multi-well development drilling programme is in the final stages of discussion. The contract envisages a reduction in drilling costs and deferral of some costs to allow a portion of the drilling expenditure to be settled from future production revenue. The contract still needs to be finalised and agreed with DQE and then with MRPAM, but the cost reductions and payment phasing could significantly improve project cash flows and overall asset value since the largest portion of the Heron development costs are drilling related.”

14th Feb 23

“Negotiations with DQE Drilling ("DQE"), the main provider of drilling services in Mongolia, have been completed and the contract for a multi-well development drilling programme is with DQE's head office for review and approval after which we plan to seek the approval of MRPAM”

The July presentation has a question specifically about whether we should get a multi year rolling contract for drilling as opposed to annual agreements. I took this to mean there is no formal agreement but that’s all I’m trying ascertain so play nicely and be constructive . 1h 11m https://m.youtube.com/watch?v=5gQv3uwTPXk

I wasn’t after investment advice nor the usual nonsense around motive , just simply confirmation of what your claiming is fact “further Heron development drill costs have COST DEFERRAL THRU OFFTAKE built into Drilling contractor contract terms”

There is no RNS about this that I can find, nor any reference to it in the July presentation. Infact we did a raise specifically to pay for H2 and the presentation spoke of looking for partners with deep pockets to fund future exploration - which seems odd if we have a partner already signed up to do that. Why aren’t they deferring for H2 ?

Anyone else got anywhere constructive to point me to please? This is helpful to all investors

Was the DQE deferral drilling ever approved? I’ve not spotted an RNS confirming that but may have issued it, or a presentation confirming the same.

As I said on Saturday that would be very helpful to help with the cash flow.

I’ve got 517533 of these so infact we both want a rise here. Whilst I certainly could do with the money, I don’t need to sell my soul in pretending it’s a banker etc.

Suspect we’ll soon find out so an exciting couple of weeks. I suspect you know full well I’m invested but you’re just uncomfortable with honest analysis so make it personal

Lovely stuff - you should use the car money to buy more shares given you apparently regret not buying more - despite being here years presumably at an average higher than today’s price. ;)

Abzzba has admitted he wouldn’t post anything negative even if he thinks something is negative so I’d advise everyone to bear that it mind when reading his analysis.

I’m not sure why he simultaneously takes the moral highground against posters who are a little more objective.

Derampers is such a lazy term for anyone not drinking on the KoolAid dished out by the massively underwater LTHs.

I’m personally worried about the lack of a deal with PC, something doesn’t smell quite right. They’ve been taking for so long and it sounds like constriction is more advanced than the deal, which is odd.

But paying for the temp and now permanent infrastructure reassures me to some extent and that’s why I topped up a week or so ago.

Before the silly cat calls start I think if PC were interested in a takeover then presumably it would suit them to mess around on a transportation and sales deal, but hopefully MB is about to deliver.

If / when we do get an announcement of production and a deal I expect a power move up in the SP.