Member Info for andmillsy

I don't recall seeing this posted before.
Interesting interview - apolos if already posted.
https://www.philippineminingclub.com/mining-capitals-alastair-ford-on-bezant-resources-mankayan-copper-project-financing/

Joe if you want to see a sea of red take a look at Crypto ! Lots of -7% incl BTC. Likely impact on equities.

Hi Charles
Hope you are well. Certainly looks a great deal and interesting to see the reappearance of First Quantum

Just to extend my previous post with the next part of the interview which is relevant
"But that rock that rock only becomes ore when you actually apply a grade to it. And then you get a tonnage of rock with a tonnage of copper equivalent, which ends up at one point eight one point nine two point two two point six million tonnes of copper. Whatever the figure comes out to be, what's really underpin this story is Ascot. It's really underpinned this growth story because if you're reasonably confident the racecourse will get there anyway, both as a decision to mine and as a two million tonne to have Ascot certainly come into the picture and look at the geophysics to see that aspect is as big as racecourse then you will see that. And we proved definition that it's open ended. We don't have to drill it out. We just don't have to drill it out. They've just got to know it there"

Chris I have a different and admittedly rather literal interpretation of what we were told by Colin - quoted below.
"So again, for those who say I'm very vague and make it up as we go along target end of April 25 million tonne a year for 20 years with some definition at Ascot, that is the target to present to the potential buyer or the first right of refusal. Buyer AAC. That's the target. If we miss, it's not going to be by quarters, it's going to be by a month or so. Well, on the target, what is the lead time? What's the biggest lead time of all that? The biggest lead time for all that is the turnaround of assays. Because you cannot actually get a conceptual open pit, you cannot get a resource until you've got all the assays back to calculate the rock mass volume and the volume of rock. That's easy. And the model tells us that that's why I'm able to spit out figures like five, five or 600 million tonnes of rock FOR THE RACECOURSE"
Apologies for the CAPS but its the only way to emphasise a point in the archaic LSE message post.

Chris the statement made by Colin in the 2nd interview is below for reference but it is only prudent to question what is stated by the CEO. An updated model to validate the size is required but based on recent extensions he appears to believe size is greater than 500mt:

"We have actually shot the lights out when it comes to that model, that conceptual pit. We've gone much further north and to the west, and we've gone a hell of a lot further to the south east. I feel that the North is closing and I feel the South is going to continue. So what sort of are we targeting with, you know, I guess that we we're looking at Tier one and the Super League, the Premier League again. You know, we're we're talking about 25 million tonnes a year for 20 years. That's the sort of thing I'm looking at where we are now. If that thing, if it keeps going south and I'm sure it does, but we know it does because it's open ended, then of course, we'll probably stick at twentyfive million, but it won't be 20 years, be 25 years,
30 years"

Yep heard it too Ella - bit baffled surely must be Kalengwa ?

https://www.vox markets.co.uk/articles/traders-cafe-with-zak-mir-colin-bird-executive-chairman-xtract-resources-4649ebc/
Remove the space

Cost per Oz down from 474 to 338. Excellent news

I hope Collin's locked in the geo team with lengthy contracts as their knowledge and proven expertise at Bushranger would be a very strong negotiating chip in striking a deal with any buyer.

Replace * with vox markets without a space
Great reminder. Thanks

Getting very close to -5% NAV where I will probably take a few more

not sure I am any the wiser but the suspense was killing me....
https://i.makeagif.com/media/9-07-2015/COival.gif

Not a cross ramp although I do hold a little GLR. Colin interviewed today by Zak on GLR RNS - includes general observations on copper and deal making
https://audioboom.com/posts/8012324-traders-cafe-with-zak-mir-colin-bird-executive-chairman-galileo-resources

Memorable name
4 Jan Strong Buy
"Interest certainly starting to ramp up. Aa will know interest will be high if this went to open market, so will be keen to buy when the open pit model is presented in June.
40p-45p a share would be considered a snip 50p-55p a fair result."

14 !

I suspect backing out of the YCA contractual agreement will cause significant concern (aka panic) amongst utilities who contract with KAP.
Separate spot price ! Is that thought triggered by WTI v Brent for oil ? Trying to get my head around it.

https://twitter.com/UraniumTrends/status/1481026262168530946?t=mumdu0_zsP9c5whIxgWY8w&s=19

Russian media keep pushing their agenda, now saying that Yellow Cake and its Chairman, The Lord St John of Bletso, financed Islamic fundamentalists during recent #KazakhstanProtest, in order to seed chaos, as a response to $KAP #uranium deal with ANU.

Is this all a pretext for $KAP to back out of its agreement with $YCA, all under "Russian protection"?

Yes, they say this in the headline, that Yellow Cake may be kicked out.

Thanks Snooz in some ways the scaling down of KZ conflict is a positive for YCA providing greater certainty of contract adherence from KAP (spot purchases to 2027 and buyback deal).
Interestingly the KZ de-escalation hasn't impacted spot and I feel the direction of travel is clear from the fundamental challenge of massively increased demand (new buyers, more reactors etc. etc.) and stagnant supply. Increased supply needs a higher spot / contract price than todays price.
Today felt like a buying opportunity but I have kept my powder dry for now.

Last time SP was c390p at time of placing at 364p is expectation of new placing from RNS driving share price drop today. I recall last time of placing the premium to NAV reached c10%. However now we are at a discount to NAV at 2.5%.
Any thoughts on reason for drop today ?