Member Info for Billyboy2fromiii

Morning,

I read a lot of comment that we have not had 2018 drill results.... but were these not detailed in RNS 6th Feb 2019?

Is it not actually the resulting updated Reserves and Resources statement that we are waiting for? I see the Nov 2019 Presentation on the website states "Updated R&R will result in a simplified OP only operation and extending mine life"........

So, I assume that the primary impact of the 2018 drill season will result in an Open Pit only operation rather than the previously stated OP and UG (as per PFS) operation which will lower the operating cost. The secondary benefit being an extension to the existing 15 year mine life?

Just checking my understanding.

Regards, BB2.

Hi Jim,

Sorry, I meant to type 100 and not 1000.

However, I still do not understand how US$2.2/dmtu equates to US$77/tonne when one dmtu is 1/100th of a tonne. Surely you would multiply the 2.2/dmtu by 100 which equals 220/tonne rather than 77/tonne ???

BB2

Hi Mark,

Thank you for reply.

I am struggling with the conversion of dmtu to tonnes.....

The July presentation states operating cost of US$2.2/dmtu equating to US$77/tonne. However, I thought there were 1000 dmtu per tonne?? Can you explain where I am going wrong please. I am trying top do some projections but obviously so your explanation would be helpful.

Regards, BB2.

Hi,

Can you show your maths as regards where the £5m profit comes from please. I would be interested in your figures.

Regards, BB2.

Hi,

I have emailed and been told that last night's webinar will be available on the UK Investor Hub next week.

Regards, BB2.

Hi Jonah,

Do you mean ruthenium?

The WH Ireland (initial coverage) broker note dated 8th July suggested our avg PGM split includes 10% ruthenium.

Platinum (Pt) 60%
Palladium (Pd) 17%
Gold (Au) 0%
Rhodium (Rh) 8%
Ruthenium (Ru) 10%
Iridium (Ir) 4%

Regards, BB2.

Hi Jammer,

Thank you for your detailed reply.

My estimated timescales for Road were taken from the RNS dated 6th August.....

"Our innovative designs allow us to commence production of the first copper concentrate within four months while we complete the remainder of the Processing Facility to ramp-up to full capacity over the following eight months.

..... fully take on board that there could be some slippage etc, so happy to accept late 2021 to early 2022.

As regards, Elephant, you are correct there is no mention of target dates that I can find, so you are probably correct that 2022 may be a bit ambitious, especially for full ramp up!

Regards, BB2.

Hi Money,
Yes, $4,000 per tonne was stated in the RNS (appreciate this will fluctuate obviously) which I make to be approx $1.80 per lb. The WH Ireland broker note stated a slightly higher $2 per lb ($4,528 per tonne). Assuming a sale price of $3 (that is the rough price today for copper cathode, isn't it ?) per lb ($6,720 per tonnes) gives projected earnings of $1 to $1.2 per lb or $2,192 to $2,720 per tonne. 14,000 tonnes equates to earnings between $30m to $38 and 25,000 tonnes equates to earnings between $54m to $68m.

As Craig has said, JLP also get a share of the concentrate sale proceeds via the JV.

Fully appreciate costs and prices will vary but just wanted to check my rough understanding the copper deals. Thinking about it, I think LC said in RNS that copper could more than double our current PGM earnings, which the above calculations seem to prove, even taking Q3 record earnings into account.

Regards, BB2.

Hi Craig,

Sorry that should obviously say $3 per lb sale price and $2 per lb cost price.

BB2.

Hi, just checking my understanding of the copper in Zambia. Limited production now but Project Roan coming on board 4 months from Aug so Dec and then ramping up to 14,000 tonnes after 8 months so approx Aug 21. Based on $3 per tonne sale price and $2 cost, earnings at production of 14,000 tonnes times $2,240 per tonne equals $31m.

Once Project Elephant increases 14,000 to 25,000 in 2022 then 25,000 times $2,240 equals earnings of $56m.

Is that somewhere close or have I missed something.

Regards, BB2

Hi Gruntie,

Thank you for that. I have called them and awaiting reply.

On a general point, Can we apply to buy additional shares at the EUR 0.92 price (approx £0.84) ?? At a current sp of £1.30, surely this is a good buying opportunity? Why would you not apply for more ar EUR 0.92 (obviously sp can go up and down each day etc).

bb2.

Hi,

I have 2572 IAG shares in AJ BELL SIPP......
I have been awarded 2572 rights.......
Every 2 rights can be used to buy 3 ordinary shares....so can buy 3,858 (2572 divide by 2 and times by 3) ord shares
cost to exercise rights is EUR 0.92 (approx £0.84)...
However, the "total cost of allocation" is £3,568.55. So are the new shares not costing £0.92 rather than EUR 0.92 (£0.84) ??? whereas should they not be costing £3,240 (3,858 times £0.84).

Any thoughts?

BB2

Sold down from 9.68% to 7.15% on 9/10 Sep. So have sold approx 9m shares.

BB2.

Morning,
Watched last night and thinking of adding.
As regards, Singida. Hope to begin construction Q42020 with 18-24 mth build so production in 2022. What is the estimated annual production, cannot see it anywhere. What is the estimated CAPEX and how is this likely to be funded ?

Regards, BB2.

Proactive One2One Investor Virtual Event tonight at 6pm.

These events are usually quite good.

https://www.proactiveinvestors.co.uk/register/event_details/277

Regards, BB2.

Morning,

I bought in during the recent sub 40p pull back. At 60p, does that not give approx a PE of 5.2 with £42m of the £163m MCAP covered by cash. I would suggest there are far worse Companies to invest in, especially in the present circumstances!

Regards, BB2

Morning,

Very noticeable and not something you would add in "by mistake".

Regards,

BB2

Hi,

I topped up this am with 200,000 and once again it shows as a sell.

Regards, BB2.

Hi Joe,

I personally do not think so. I have been impressed with Adam since he has been on board. He seems to have brought new energy to AMC. He certainly has a plan to move us forward. So far he seems to have delivered what he has stated.

BB2.

H