Member Info for Amtech

Only trouble is they’re spending 4x what they bring in, it’s ok for a lucky punt on a contract spike. Ultimately they’ll need more highly dilutive fund raises.

Yeah reduced to £5,500 per week, I feel for him!!!

30 July 2018

Armadale Capital Plc (‘Armadale’ or ‘the Company’)

Progress Update: Mahenge Liandu Graphite Project Feasibility Study

Armadale, the AIM quoted investment company focused on natural resource projects in Africa, is pleased to announce a positive update on the feasibility study underway at its Mahenge Liandu Graphite Project in Tanzania (‘Mahenge Liandu’ or the ‘Project’) ahead of an anticipated decision to mine in early 2019.

Overview

Multiple work streams underway to fast track completion of the feasibility study and define Maiden Reserves ahead of an anticipated decision to mine in early 2019
Diamond Drilling underway, the purpose of which is to obtain representative samples for test work and product marketing. A total of 450m of drilling and 7 drill holes will be completed.
Reverse Circulation (‘RC’) drill rig mobilised on-site to focus on upgrading the current JORC Resource of 51.1Mt at 9.3% Total Graphitic Carbon (‘TGC’) to Probable and Proven Reserves
Airborne topographic survey now underway covering the area of the proposed mining permit of 10km2
Environmental and Social baseline surveys now underway with an environmental impact assessment (EIA) and relocation action plan (RAP) expected to be submitted in 8-10 weeks
Finalised security arrangements with consortium of high net worth individuals (the “Consortium”) pursuant to financing facility (announced on 20 October 2017) to provide up to £400,000 to support the continued development of the Mahenge Liandu, with Armadale entering into security agreements and a priority deed with each member of the Consortium over the assets of Armadale.
Nick Johansen, Director of Armadale said,“The various critical work streams at Mahenge Liandu are all progressing extremely well, and we remain on course to make a decision to mine in early 2019 – meaning that with a fair wind, we should be producing graphite by H1 2020.

“We have already demonstrated that Mahenge Liandu is one of the most attractive graphite development assets globally; with lowest quartile opex and capex costs, an IRR of 122% and a 1.2 year payback.The Project NPV of US$349m is also a stark contrast to our current market cap of under £5 million.Combining these robust economics with ever-improving demand fundamentals for graphite, Armadale is ideally positioned to rapidly capitalise on this market opportunity and become a significant new high quality graphite producer within the next 18-24.

“I look forward to providing further updates regarding our progress in the coming weeks.”

Yeah found it thanks MrKing, so basically you ain’t got any paddles then.

I can’t find where it says you can only have one licence renewal

You never know it might be a copy and paste from 2 years ago with Magnetite changed to PGE, 6 more holes 2 more years.

There’s been plenty of repeating on here to make it balanced though SS. One poster mentioned an International Super Major six times in a day in consecutive posts. This was already heading down before Malcy spoke.

I’ll give you that MrKing you do provide the researched backup to your key dates. Each time though sadly nothing comes of them, if the Zorb try’s to sell this it will just appear one day through an RNS and not on any key date.

Not more key dates MrKing!! The last five key dates passed by like dandelion seed balls blowing in the wind!

They should of finished the diamond drilling by now Dave and becwell into the RC

Yup all quiet, just ST ranting, lol. Have you emailed Nick with your concerns ST?

Yup, certainly something being engineered here.

Or desperation...

That’s what my good lady says, she wouldn’t last a month running my business with her spreadsheets predictions!!

Thats the problem with these listed mining companies, they all appoint accountants to run them. No wonder they never actually mine any ore!!!!

Seems daft to fly halfway around the world to an investor event then not allow it to be published. Hope it came out of his pocket and not shareholder funds!!

Non of them grabbed the baton though Degsy after months of looking, unless the exclusivity one was one of them.

Why would I attack you for that post, I only bite when insulted. I ask genuine questions it’s not my fault posters get upset when they can’t find an answer!

It happens everyday on most shares

Nothing to read into the AGM RNS. It’s the last RNS you need to decide on! It’s either the super duper major has said if we fund this we ain’t paying for your deferred wages buddy so SP has had to do what he’s done, or SP knows a deal ain’t coming off and he wants to start getting paid again.