Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
.".and confirms that discussions remain at an advanced stage with a number of interested bond investors"
Sounds to me that they have a few offers and options and are trying to get the best deal. No doubt there will be a a bit of poker playing going on so the best deal for PXC is achieved.
Brinkmanship often means timescales are stretched and it goes don to the 11th hour.
With US interest rates expected to keep falling each quarter from now until end 2025, it looks as though head winds in the Commodity sector should soon start to turn into tail winds ?
Even if there are delays in financing (not saying that will happen) the long term outlooks good here.
I will be adding more IF this goes sub 20p.
DYOR
AIMHO
Would it not be better to compare the sp performance against an event outcome ie drilling results rather than a random time date?
If after the first drilling results he sp has not moved up, or fallen, then that would indicate the pessimists were correct.
Until then, I'll make no judgement call - just wait and hold for actual empirical results before making a call.
With US interest rates expected to keep falling each quarter from now until end 2025, it looks as though head winds in the Commodity sector should soon start to turn into tail winds ?
That said, it may take another 12 to 18 months before POC reached the required level before bushranger becomes economic. But Manica profits should keep increasing.
It would be nice if CB told us exactly what they are though :)
This is not a surprise to me and not a worry.
Three weeks ago I stated
"As ever in small caps, things take longer than anticipated so the RNS confirming the agreement may take until mid Dec / early Jan?"
Having been in junior mining co for years find the BoD are always a tad overly optimistic with time scales:)
If it does go sub 20p (I'm not saying it will) then I'll be buying the dips.
AA were never the most likely buyer re Bushranger so that news doesnt change anything.
Well actually that's not true, it might change something.
It could be argued that by AA reducing capex, it increases the chances of them letting us out of the AA clause and they get some agreed cut of any deal we do with another major??
I'm not suggesting that will be soon, but the AA clause may be more likely to be removed now if AA have zero intention of spending any capex on Bushranger.
They may aswell try and monetise what value will be there (at a higher POC) by letting us out of the clause and sell to another - with AA making some money from that deal (in some way).
The way I see this is if you believe there is going to be a financing deal announced in the next month or so, you just hold and buy the dips. If there is no news prior to xmas then there will be opportunity to buy more at sub 20p imho.
If you dont believe the BoD then best sell -up and move on.
I've been able to sell all morning.
Bid slightly down but MM dont seem to want to move the Ask down??
Hmmm I wonder why :)
"Put another way IF funding is not secured by end of Friday it doesn’t necessarily mean NO funding. It means we need to wait a little longer as it plays out."
That's also my view.
Its one thing to deliver a little later than stated, its another to not deliver at all.
I can't believe the BoD would have said what they did if there was any change of this not happening. They may have been a little overly optimistic (tbc) , but they are not idiots !
"Put another way IF funding is not secured by end of Friday it doesn’t necessarily mean NO funding. It means we need to wait a little longer as it plays out."
That's also my view.
Its one thing to deliver a little later than stated, its another to not deliver at all.
I can't believe the BoD would have said what they did if there was any change of this not happening. They may have been a little overly optimistic (tbc) , but they are not idiots !
I have been in AIM for years and find all BODs are overly optimistic.
These things nearly always take longer than guidelines and are complicated and can take longer than anticipated. If it is delayed and sp falls, then I will be adding. I would be amazed if the financing was not all agreed and confirmed by early Jan, so if we see a sharp fall due to no news before xmas, then I'll be buying the dip.
IMHO
"Hands up. I admit I'm one of the mugs,"
Tbh I dont think anyone is a mug buying in here at this price.
More like rather astute.
As for CB, I think his reputation is now completely trashed and there is zero trust in anything he says. Maybe thats why he's stopped the interviews as he knows he's been found out.
If there was not the CB baggage this would be much higher against fundamentals.
CB is adding value though, its just that its a negative value !
IMHO
"Fortunately (for us) Bezant and Xtract are poles apart."...
"we are a profit making company without the need for placements to"
Spot on.
"Even he must look at the share prices of all his companies and marvel that people are still prepared to give him their hard earned."
Well some still seemed to be prepared to. Only 3 weeks ago backtothesoil posted
"For what it's worth JDAU, I agree that this is undervalued. I've recently bought £12K worth" :)
Maybe CB has finally "learnt his lesson" and is now going for his new approach of under promising and over delivering !
If so thats 11% increase in pre tax profit
Btw
POG futures circa $2050 Jan so maybe another $100k extra profit coming soon???
Thanks for that Andy. Good info.
So assuming:
$1000 AISC (it may be just below $1K as CB said they are working towards sub $1K AISC in Q2)
$1950 POG
= $950 profit
6541 oz x $950profit = $6213950 x our 0.23% = $1.429M = £1.13M pre tax profit = £375K a month pre tax profit.
My previous estimates have always been between £300k and £400k a month pre tax profit so £375K looks realistic
Dec Jan and Feb months will probably be 75% of the other 9 months as they are the rainy months
So that works out at approx £4.2M pre tax profit a year
Surely whenever that is officially declared the sp will start to reflect this profit?
Not many small caps around that are profit making at that level with a market cap of £9M !!
Even before bushranger, our market cap was higher at times, even when we were loss making at group level :)
CB start to redeem yourself and get promoting this news !!
Alex Terry holdings have increased at every update and is not unchanged from last update 1 June
He added more after sp went down to 2p and has not sold any.
As a large holder, probably link to some institution, I would think he has better comms with CB than we do.
Its encouraging that he has not offloaded any.
We may not get the official figures until June end of year financials but we do know what 2023 H1 income was - assuming you believe the RNS.
I also think there will be enough info in Q3 to work out reasonably accurately what the Q3 income was - but accept that will not be confirmed officially until end of year financials.