Https://youtu.be/0IZBDToA7tU?si=LDTV03O46eUhArlW
9m15
The value of these other products more than covers the operating costs of the operation
(Blesburg lithium project)
Https://www.aquis.eu/stock-exchange/announcements/4378018
Phase 1 drilling compete and JORC due January 2024 (now overdue)
https://twitter.com/MarulaPlc/status/1759942787879911724?t=unDah0ACw8OhHISE-VLnQA&s=19
The 8-10MT resource estimate (JORC due any day/week now along with CPR)
https://energycapitalpower.com/top-10-lithium-mines-in-africa/
Blesburg in August was estimated to contain 250-400kt of lithium (before the diamond drill campaign)
https://www.proactiveinvestors.co.uk/companies/news/1034950/marula-mining-pleased-with-progress-of-blesburg-upgrade-1034950.html
5000T a month capacity
Depending on the grade, say between 0.6% and 1.8% spodumene, 8MT becomes 800kt to 2.4MT of 6% Spodumene which sells for $1000/t. 800KT base case is enough for 11 years mine life at 5000t/month (60kt/year)
And they have only drill tested 2 hectares out of a 52 thousand hectare licence.
OK I will.
Total cost blesburg $10m or less
Operating costs at Blesburg, minus due to tantalum and other byproduct credits.
Price of lithium spodumene potentially climbing to $1200
Plant capacity 5000t/month base case
6000x1200x12 = $86m
Profit after tax maybe $60m
IRR after tax = 600%
Hahaha asiamet resources? Good luck finding the $200m capex
*Below is from asiamet resources DFS ***NOT MARULA related***
Initial 9.2 year mine life producing up to 20ktpa of copper cathode per annum
• Life of Mine (‘LOM’) Revenue of $1.4 billion and EBITDA of $655.3 million
• Capital cost of $208.7 million (excluding growth and contingency $26.7 million)
• Post Tax NPV8 $162.8 million, IRR 21.0% (post tax, excluding closure costs)
• Payback Period 3.4 years
• C1 cash costs of $1.91/lb and AISC of $2.25/lb
• Base case uses consensus long term copper price of $3.98/lb
• Total Measured, Indicated and Inferred Resources unchanged at 69.6Mt @ 0.6% Cu for 451.9kt of contained copper.
• Updated Ore Reserves of 40.8M tonnes @ 0.7% total Cu (272kt contained total copper) and 0.5% soluble Cu (198kt contained soluble copper).
• Additional opportunities identified to further reduce capital will be explored through the engineering design phase.
• Strategic starter project – establishes infrastructure springboard for delivering future phases of development from the Beruang Kanan district and KSK Contract of Work.
• PPKH (approval to use forest area) permit requirements well advanced. All aspects of the project maintained in compliance with regulatory requirements.
So that's an NPV of $162m when the plant will cost $200m+?
What happens if it costs $300m and is delayed a few years? Then the NPV becomes minus?
IRR of 20%?
Marula just announced on Friday a project which has the potential to be 60% owned and repaid in 6 months so an effective IRR of 200%
Blesburg lithium mine total costs about $10m and profits this year could be $30m+ at these low lithium prices. IRR 300%
Look at asiamets copper grades?
"Updated Ore Reserves of 40.8M tonnes @ 0.7% total Cu (272kt contained total copper) and 0.5% soluble Cu (198kt contained soluble copper). "
Kinusi has scope for 50mt at 2.6% and is almost 100% acid soluble with other metal byproducts. That makes it almost 5x more copper recoverable than asiamet!!!!
Wow you really just blew your cover there!!! Omg
2386m and 42 holes compete 6th January. Airborne survey also competed over large area which lead to neighbouring Korridor prospect being acquired.
https://twitter.com/MarulaPlc/status/1732300256925123012?t=dfF0dvHQH445GEZ9n6ZHiQ&s=19
The CEO of Marula is Jason Brewer. He isn't the billionaire
The Billionaire is Q of Q Global who is about to become a 34% shareholder or there abouts. (The video i posted last below at 14:15 is Q u I n t o n the investor, not Jason the CEO.
Comment persons report on Blesburg lithium mine and JORC are all overdue and will be released most likely in the next week or two once the dual listings and offtake deal are all completed.
You've replied back 5 minutes after I posted an interview for you and gave you the time stamp to listen to.
Please do me the honour of doing the research and listening to the videos before countering my posts with such strong opinions. Thanks
https://www.allpointswestpod.com/episodes/*****on-van-der-burgh-q-global-commodities
above probably won't work as lse don't like q.u.i.n.t.o.n
here's a direct link. from 4 minutes is very interesting and talks about q's reasons for investing in marula
https://tinyurl.com/yckyh7nt
My post last night 20:23
Instead of adopting the traditional phase of exploration, development, production, which can take decades and would require a lot of capital, our focus is to find existing under-capitalised assets – primarily where there has been small-scale mining activity of commodities which are in high demand, not just now but in the medium and long-term – and invest in their development,” explains Brewer.
That's the Modus Oparandi. Please get used to this or you will drive yourself and me mental.
Full potential as in exploration target is now known. They went in cheap and are now working out how big. Again I apologise that its not the usual format of a miner. That's the disclaimer but also the attraction here.
Phase 1 didn't include drilling, my mistake. It was the Lithium mine which had drilling as past of phase 1.
Quarterly activities report:
Exploration at the Kinusi Copper Project Confirms a Major Copper Mineralised Corridor and an Initial 10 -15Mt Exploration Target of High-Grade Copper, Gold, and Other Base Metals
The Kinusi Copper Mine (“Kinusi”) is located near the village of Kinusi in Mpwapwa District in the Dodoma Region of central Tanzania and comprises 10 primary mining licences where the Company is working with its local partner Takela Mining Tanzania Limited (“Takela”) on exploration, mine development and the establishment of new copper processing operations.
As announced on 18 August 2023, exploration results received from the Phase I Program of exploration activities completed by the Company’s independent geological consultants, Geofields Tanzania Limited (“Geofields”) confirmed the presence of a copper mineralised corridor at Kinusi that extends for over 1 kilometre (“km”) length and over 300m (“m”) in width at the main Sasimo Prospect.
The copper mineralised zones identified at Kinusi were seen to comprise mainly malachite and azurite with minor bornite and native copper mineralisation and is associated with the base-metal sulphides and is oxidised near the surface and which indicates the potential extensions of the copper mineralisation at depth.
Based on the Phase I Program of exploration activities, Geofields estimated an initial Exploration Target at Kinusi of a 10-15Mt deposit of high-grade copper, gold, and other base metals, with the potential to increase to in excess of 50Mt on completion of definitive resource drilling programs proposed to be completed in the next phase of exploration work at Kinusi.
As announced on 5 October 2023, a total of 51 samples including reference material samples were collected and prepared by Geofields and sent for laboratory analyses at SGS testing facilities in Tanzania during the Quarter. Assay results were received after the Quarter end, the average grade across the samples was 2.68% copper and included results of 15.48%, 11.69%, 11.03%, 8.11%, 6.55% and 6.54% copper. The results confirmed the high-grade copper mineralisation at the Sasimo Prospect.
The Company and Geofields are currently finalising the Phase 2 Program of exploration activities to be completed at Kinusi. This work will include geochemistry and geophysics survey work, and a resource exploration drilling program.
Phase two $2m already budgeted and started will consist of 12 drills at 1500m total as part of a 5000m program. LIDAR and airborne geophysics study.
https://twitter.com/Chuggley1/status/1750600786399105322?t=R5bElCad5BaU2QODYMMXpg&s=19
Phase 1 drilling is complete and results being formulated for release shortly
$2b in situ value doesn't mean it's worth $2b. That in situ value could be up to $10b if the full 50MT exploration target is realised.
Consider Greatland gold, market cap $400m and their 30% maiden resource in-situ value is worth what 2.5Moz x $2000/t gold, $4.5m? They are much further from production with a lot of debt and further capex to spend for a similar in-situ resource.
You've found a gem and your swearing because you don't like the fact that there are no DFS and JORC resources released on the eve of production.
Thst is an opertunity to invest cheaply
The 75% was agreed before the initial exploration results and full potential was released.
All kinusi rns's are in this document
https://mobidrive.com/sharelink/p/3rOAlTRnizcTnUp3YCawr250ZJ66urtJOAKFmlLvgXjg
Production rates have been released but I can't find them and I've supplied you all the sources to do your own DD now as I'm already happy and fully invested.
The offtake agreement is still being finalised and as is common with any offtake agreement, the terms and volumes aren't released prior to signing
Third time lucky
https://youtu.be/j5VOfPzrxCo?si=RRtQY0tYDBaWNGb5
Q global founder interview^
If your short on time just listen at 29minute mark
Second interview within this tweet
https://twitter.com/ZaksTradersCafe/status/1715284474064216406?t=pdwzoSzDZ_3hdM2V-hzdhQ&s=19
9:27
"i know nothing of this billionaire of which you speak"
well i suggest you learn as they are about to be given 100m shares next week for services, plant, exploration work done over the past 12 months.
again (posted this last night)
q global mining entraupinaire and funder interview
https://youtu.be/j5vofpzrxco?si=1rmrpvi8mu1i_mm3
and another one
https://zakstraderscafe.com/interview-*****on-van-der-burgh-founder-ceo-q-global-commodities/7924/
Here is Marulas copper expert having been geologist then general manager at big tree copper/copper 360 South africa
https://www.linkedin.com/in/jana-van-wyk-1a3725170?utm_source=share&utm_campaign=share_via&utm_content=profile&utm_medium=android_app
Kinusi, let's take a conservative in-situ value
10MT x 0.025% (average grade estimate) x $8500/t
=$2.125b
Exploration companies usually valued at about 2% of in-situ value so $30m? (75% owned) Kinusi is just one of many projects owned by Marula.
Here is the calculation for initial DSO direct sorted ore concentrate sales
LME price x 62% x grade
So $8500 x 62% x 25% = $1317/t
Sorry I don't have costs of Opex, transport or volumes but there is talk about kinusi being as big a revenue contributer as Blesburg, whether that is at stage 1 or stage 2 I'm not sure.
There is also the fact that the kinusi copper ore is almost 100% dissolvable in acid so would be very amenable to extraction SXEW to produce copper cathode which sells for LME ($8500/t) + whatever byproducts they can produce.
Q global copper? Not sure, they are a private company so harder to research.
Geofields Tanzania the mining consultant? Definitely.
https://www.geofields.co.tz/
independent mining consultants, Erudite Strategies? I would imagine so? They do look highly technically proficient to build/complete projects
https://www.erustrat.com/
At the end of the day, what is the risk at Kinusi? The plant is already paid for and almost complete. Phase one exploration is complete so they know their initial target and mine life and resource size.
This is a low cost pilot, maybe less than $5m spent? If it doesn't work, it's a fraction of forecast free cash flow they expect to make in 2024.
Worth a punt when the geo's are all saying 10-15Million tones at 2.5% average grade (with 50MT target) with much much higher grades at surface, plus other associated metals
Blesburg lithium mine from space
https://www.google.com/maps/@-28.9822422,17.7303674,1692m/data=!3m1!1e3!5m1!1e4?entry=ttu
Blesburg road sign
https://www.google.com/maps/@-28.9571135,17.7718252,3a,30.4y,287.02h,89.1t/data=!3m6!1e1!3m4!1sVIJX_h8k-eehqHmclUopfA!2e0!7i16384!8i8192!5m1!1e4?entry=ttu
1 year timelaps gif using sentinel pro
https://drive.google.com/file/d/1mWCzWAyxQFI2evCNYfOfnsKNzNukTddb/view?usp=sharing
Find Fridays interview.
Note the part where Jason says that offtake is due to be signed early next week. That offtake for 100% of the Lithium.
He also says that the byproducts will more than cover the mining costs.
5000T a month of SC6 worth $1000/t for zero mining costs. And the whole plant and mine cost under $10m