We would love to hear your thoughts about our site and services, please take our survey here.
There is no rise, simply trades within the spread. Just complete nonsense, surely you can't be this desperate to get out ? Wait until Friday when we have real news.
6 would just be a bagger. Multi would be 9 or more.
Ria plays their own little game which can be ignored. But do you have any of your own relevant thoughts on the outlook here, davey50?
Yes, it is very disappointing, R80m is about £3.4m. So the question is why has this drawdown been done?
Options..
1. Production is going ok but payments for sales have a significant lag ( the hoped for option)
2. Production is not going well, probably unlikely due to recent seemingly successful ramp up.
3. Quality issues are so bad they are not getting much for the product. This is a possibility, but surely they should have mentioned this at last 43k sale if this was still the case?
4. They are spending a bucket load of money on Hinda project engineering design and are prioritising speed over cash flow from Elandsfontein. This is a possibility, there is real pressure in the Congo to get the project moving if they want to access port and power facilities. If they don't move fast the may lose the infrastructure options to other companies..
Hopefully we will get a clearer picture of all this on Friday with the update. This drawdown has introduced some uncertainty but I am still confident that Elandsfontein is ramping up ok. Just need confirmation on sales and especially product quality. My suspicion is that this is a temporary cash flow problem (sales income lag) plus heavier spending on Hinda.
Expecting good production news and Hinda update on progress/ financing.
Target: 12-14p on 50ktpm or more production
Yes, Kropz (KRPZ) is itching to start it's Hinda rock phosphate mine near Pointe Noire, that's 2mtpa that needs to be exported through Pointe Noire. A funding update, and indeed go ahead, could be announced end of this month in its annual update.
Competition is fierce for export space until a dedicated mineral port is announced and built .
The proposed Hinda mine will use Pointe Noire port for export so this is excellent news..
https://www.thenationalnews.com/business/economy/2023/06/20/ad-ports-signs-30-year-agreement-to-manage-and-operate-congo-terminal/
"AD Ports Group, the operator of industrial cities and free zones, has signed a 30-year concession agreement with the government of the Republic of Congo to manage and operate a multipurpose New East Mole Terminal in the city of Pointe-Noire."
In that case they cannot divulge anything substantial that is new.
??
Morning ria. This thing can move very fast and vertically when it wants to. It certainly deserves it with increasing Elandsfontein production!
..at this price, imo. Looks like some are agreeing with that. Just 11 days off the annual results and projects update.
Forrest getting twitchy in the neighboing DRC..
https://www.mining.com/web/billionaire-forrest-cant-wait-forever-for-80-billion-congo-hydro-deal/
Billionaire Forrest ‘can’t wait forever’ for $80 billion Congo hydro deal
Bloomberg News | June 16, 2023 |
Maybe they were expecting some angry investors?
$345 (US) per tonne .
Personally and in my own opinion I see this as a 'slam dunk' investment at this price (but others may see it as extremely risky still due to the past years history). The last RNSs have shown production is happening and increasing. There has been no debt drawdown last month indicating sustainability of production and probable good profitability (rock phosphate price still at record high).
If they are indeed reliably producing 50ktpm plus phosphate concentrate per month, this should trade in 10-16p range easily, even with the built up debt.
If Hinda gets go ahead and financing you could add another 20-40p, but I do not expect this as given, probably will be getting confirmation that this will happen soon..
Expecting a lot more rise with good production update at end of month.. a long way to go as current mcap is miniscule.
Sorry, I can't see that argument, the 5 year price chart shows clear Ukraine war spike up and descent down. But we may get a short length bed curve dead cat bounce..
Sorry!! Ignore my so called Brazilian prices, it is still fob Vancouver!! Just currency change by the site. Humblest apologies...
Sorry!! Ignore MC do called Brazilian prices, it is still fob Vancouver!! Just currency change by the site. Humblest apologies...