The wording from the Mining License Grant RNS released on the 8th November is as follows:
'Kodal has commenced a programme of work to update the Feasibility Study announced in January 2020 ahead of securing funding for mine development and construction. The programme has a six-month time estimate and will focus on:
o Metallurgical test work for variability testing and confirmation of process flowsheet, investigating the potential for increased metallurgical recoveries;
o Completion of geotechnical and hydrogeological reviews for open pit and the tailings dam;
o Update and finalisation of capital cost estimates and operating costs for the proposed development; and
o Community development and stakeholder engagement activities at Bougouni.
· Strongly rising prices for spodumene concentrate highlight opportunity for Project development with recent average pricing levels exceeding US$1,250 per tonne 5% Li2O spodumene concentrate, compared with the initial US$680 per tonne for 6% Li2O spodumene concentrate used in the 2020 Feasibility Study.'
Based on the above wording the RNS would be due 2 weeks on Monday, BA has since clarified in QA sessions that works had begun on the FS before the November RNS and that there is a possibility this could be completed & issued before the 6 months stated.
Hi Ellngles,
Just to summarise, we are waiting on an updated FS, it's hotly anticipated due to the dramatic rise in the price of lithium since the original PFS was released.
Time line for this was stated as within 6 months in an RNS from early November - which is why people are now expecting this soon.
We are also expecting updates on financing/ JV announcements following the updated FS, but no timeframe has been given for this.
I also watched this presentation last night and agree it runs better in hindsight, Also agree that BA does mention he's had offers that were considered & rejected, also agree he does indicate he is leaning towards a JV rather than going it alone, although he doesn't rule out the latter.
The way this board shoots down any opposing opinion is mad, thought your posts were fair for what it's worth Freddie.
I agree many PI's will become frustrated with the timeframes and sell up, This is often why we see a swing from PI to II holders with explorers at this stage of developing towards production.
Good Morning Freddie,
For me - Especially in these uncertain times, It's all about where can I put my money where it will be safe, companies that were previously regarded as blue chip have been hammered by inflation & Russian escalation,
GGP represents a growing resource in one of the safest, most mine friendly regions in the world, logic states this can only improve over time, any lowering of the SP will be short lived & represent further buying opportunity.
Aside for this there are potential short term drivers for SP spikes, 5% negotiations, strikes on other tenements, release of sustainability report & further resource upgrades are all short term milestones that offer opportunity for SP growth.
Feeling great about this share currently, tier 1 resource, in a tier 1 area, with a major JV partner.
Long term I can't see any way at all that we lose, where is the risk?!
Probably the largest risk to us is we get bought out at a premium, but our large PI holding would squeeze every inch of value on the votes.
If it drops in the short term- great! Means I can buy more when the ISA allowance resets on 6th April.
Just a matter of waiting for the resource to prove itself, and that doesn't even include the chance of a strike at our other tenements!
Some of those questions are daft, he's not going to speak on behalf of NCM or SB & he's not going to speculate on shorting positions.
I think it's fair to ask him about the reduction in rigs and the delayed results.
'Kodal Minerals has prepared a six-month work programme focussed on updating the Feasibility Study and moving to a Decision to Mine status. The work programme will focus on key aspects of the Project where initial studies have indicated potential for significant improvements including metallurgical recovery, optimised processing flowsheet and updated optimisation of open-pit designs.'
The Above extract is taken from the mining license RNS from the 8th Nov 2021
ATB
Go on then Merc,
If you get it to .39 I will declare you as my hero & join you in 10 mil shares as I also have some dry powder recently taken from GGP - Deadline end of trade next week, deal only applies if no RNS is released between now and then.
Hi Del,
NCM have their results due Wednesday evening Uk time. Negotiations are due 'mid Feb' (If GGP & NCM have come to an agreement) - So some are speculating that the result of negotiations will be included, if so we would get an RNS Thursday Morning,
MRE2 is also due around this time with the same speculation being applied to this awaited news.
BR
Greatland Gold (LON:GGP)‘s stock had its “buy” rating reissued by equities researchers at Berenberg Bank in a note issued to investors on Monday, Analyst Ratings Network reports. They currently have a GBX 24 ($0.32) price target on the stock. Berenberg Bank’s price target points to a potential upside of 66.20% from the stock’s current price.
A number of other analysts also recently issued reports on GGP. Canaccord Genuity Group reaffirmed a “speculative buy” rating and issued a GBX 25 ($0.34) price objective on shares of Greatland Gold in a research note on Thursday, December 9th. reaffirmed a “speculative buy” rating and issued a GBX 25 ($0.34) price objective on shares of Greatland Gold in a research note on Thursday, December 9th.
Shares of GGP opened at GBX 14.44 ($0.20) on Monday. The company has a current ratio of 1.83, a quick ratio of 1.79 and a debt-to-equity ratio of 301.77. Greatland Gold has a 12-month low of GBX 12 ($0.16) and a 12-month high of GBX 25.50 ($0.34). The business’s 50 day moving average is GBX 14.53 and its 200 day moving average is GBX 16.26. The company has a market capitalization of £584.32 million and a PE ratio of -143.10.
Stebo, You have me questioning my own assumption it would be in Aus $ Now!
Does anybody have a copy of the broker notes from Berenberg & Cannacord for clarification of currency used?
I hope You're right and I'm wrong mate, either way, I can't see a value less than 5% of current mcap
ATB