Member Info for Billyboy2fromiii

CONTD...

.... AMC to simply offer them in on the deal. I know Adam has past connections with Glencore but I cant see them just offering AMC in on the deal for fun of it.... There musty be more going on behind the scenes (I assume the copper off-take???). Very interesting !!

Regards, BB2.

Morning all.

I had a quick listen to the video last night. I will have another listen today as I was half asleep! But did I hear the figure of $100m mentioned pa for the iron ore ??? If so, I assume this is revenue rather profit? This iron ore deal that Adam has sorted seems a good one!!! I am still trying to work out the exact role that Glencore played in this. Yes they have the off-take and yes the "own ?" the port facility. But are they also involved with NRR in any other way as regards Roper Bar?? Adam seems to state that Glencore approached

Hi,

My six top ups today, 56.75K, 53.25K, 125k, 125k, 130k and 130k ALL showing as sells.

Regards, BB2.

Morning CBS and all.

On a general point, LTHs here know all about the story and the potential. The issue had been how we are going to "make it happen". To me Adam has a plan and this is the first step in that plan and is exactly what we were told would happen. As we near September, it shouldn't be too long until we hear about the next part, off-take etc. Will his plan finally sort this out? Lets hope so as I think all our eggs are in his basket.

Regards, BB2.

Hi,

Is there anything happening here??? I thought, that realistically, I had lost my £ following the suspension. However, I see this board is quite active today.

Regards, BB2.

Hi Tiger,

I am looking to buy in here and was expecting a much larger fall following yesterday's RNS. Can you please explain your reference to CEY.

Foe the record, I hold HUM, PUR, SHG, SRB, AAZ, CORA but not HOC, CEY (missed the opportunity in March/April).

Regards, BB2.

Hi Tiger,

I am looking to buy in here and was expecting a much larger fall following yesterday's RNS. Can you please explain your reference to CEY.

Foe the record, I hold HUM, PUR, SHG, SRB, AAZ, CORA but not HOC, CEY (missed the opportunity in March/April).

Regards, BB2.

https://www.cnbc.com/2020/06/24/coronavirus-why-the-pandemic-could-spark-a-copper-rally.html

Regards, BB2

Following on the my last post, a couple of questions...

under the 75% divvy up at JV level. The RNS say 75% until.....1.5 times of all capital invested by Braemore (being the aggregate of the Initial Investment and any further funding provided to the JV) has been returned by the JV......

The initial investment is......... Braemore has agreed to advance the equivalent of US$ 5.0 million funding ("Initial Investment") to Tanganika's owners Horizon Corporation Limited ("Horizon") which investment will be applied in part for the continued project development of a second copper tailings dam of similar size, held by Horizon. Under the Agreement US$ 5.0 million will be settled by cash of approximately US$ 0.6 million and new Jubilee shares of approximately US$ 4.4 million........ So we get back 1.5 plus interest of our initial cost of which the majority is the issue of shares??? But does our construction cost of the JV concentrator plant (approx $25m as quoted in interview) count as "further funding provided to the JV" or do we pay to build the plant at our own cost??????

As regards, the quoted current 35% margin. Is this based upon us processing our own tailing which we already own (so no actual cost to buy) or based upon the third party material that we buy in (where the cost to buy this is deducted from our selling price of the refined cathode?).. Basically, is the 35% margin what we pocket AFTER paying the JV for the concentrate and AFTER our costs to refine the concentrate into cathode????

Just trying to really understand this deal as it looks good to me. Just trying to work out how good?

Regards, BB2.

Morning,

Just want to check my understanding and try to keep the language simple;

Is there not two separate parts to this deal?

Firstly the JV. In essence, they provide a shed load of tailings material, we give then some shares and a bit of cash, we build at our cost the concentrate plant. The tailing are then processed into a concentrate and sold (some to us as market rates to make into copper cathode and rest to open market). The proceeds of this first part go to the JV with us getting 75% until costs recovered with interest (does this mean the cost for us build the concentrate plant??) and afterwards we get 60%.

Secondly and separately to the JV. We use our Sable plant to process the bought in concentrate, from the JV, into copper cathode and then we sell this into the market and we keep the proceeds. Is the profit margin on the cathode 35% (the selling cost of cathode less the buying cost of concentrate less the cost to process??).

Is that correct, or am I not getting this??

Regards to all.

BB2.

Hi,

Having read the RNS a few times, could someone answer the following please.

The accounts show inventory at $18m. However, the Q4 2019 production update to 31 Dec 19 stated inventory was 2,900 oz worth approx $5m. Why is there such a difference in these figures, should they not be the same ?

The accounts show "trade and other payables" as barely unchanged from 31 Dec 2018 at £39m approx. I was expecting a decent reduction as I thought cashflow from Q4 had been used to reduce this ?

What is the $15m other financial liabilities which is separate from the approx $40m borrowings?

For the record, I am a long term holder with 700k shares and am very positive about HUM. However, Can anyone help with my questions please.

Regards, BB2.

Morning CBS,

Hope you are well.

Yes, still around and waiting patiently. Topped up at 1p recently to lower avg. Will do so again if sp drops under 1p.

Interested in your and others (especially Kalan and Geng) views of the general markets currently. I am amazed at the bounce from March lows. I was expecting another drop but people seem to keep buying.....

Regards, BB2.

Morning all.

I noticed this snippet in a RNS by Katoro Gold this am

.........In recent months Katoro has received approaches with a view to earn-in, joint venture or other similar structures in respect of the Project, with a primary focus on the nickel sulphide potential.............

Doesn't affect AMC yet, but with patience.....

Regards to all,

BB2

Hi Rubbish,

I think you are probably correct. The FTS seems to be a Canadian tax scheme to encourage investment into Companies for exploration expenses, tax efficient for investor. It would make sense therefore to be in Canadian $, which as you say is approx £0.89.

BB2

......should read $3.3 not £3.3.....

Hi Markyess,

yes, beginning to understand now.

From memory, was the AISC previously approx £3.3 and has now reduced to approx $2.75?? I thought this was stated in a recent RNS but have not been able to find it?

Also, was the previous DFS done using a projected selling price of approx $4.5. Again, i have tried to find this but been unable to.

I see you have used $5.10 which is more realistic, in my opinion, that the current price of $6.16.

I will run some figure of my own and see how they compare.

BB2

Regards, BB2.

Hi Markyess,

Thank you for your projections.

Just trying to work though them and compare to my understanding, so I hope you don't mind me querying a couple of points.

Can I ask how many tonnes you are using in phase one, which you are them multiplying by your profit of $2.5.

Also, can I ask where how you calculate the phase two units of 2.5m. Is that pm or pa. I am confused with the relationship of metric tonnes and DMTU and cannot see where you get 2.5m from.

My understanding is that Keras will have 76.5% (90% of existing 85%).

Thanks in advance.,

BB2.

Continued....

I know LTH are expecting a significant re-rate once production starts so I don't think my calculations can be correct. Could someone tell me where I have miscalculated please.

Regards, BB2.

Morning,

Could a LTH please compare their projections for when/if production is able to start.

My research shows initial production of 6,500tpm (no financing needed) and rising to 25,000tpm (after approx 9 months an subject to financing of approx $1.5m).

Using pricing (as at 4th May) of $6.16 and production cost (as per Jan presentation) of approx $2.75 gives 6,500 times $3.41 equals initial EBITDA of $22,165 pm or $265,980 pa (£217k), rising to 25,000 times $3.41 equals $85,250 pm or $1,023,000 pa (£837k).

Today's MCAP is approx £3m. So at full production, today's MCAP would be appox 3.6 times EBITDA.

Using a lower price of $5 would give $675,000 pa (£552k) with MCAP of 5.4 times EBITDA.

I know LTH are expecting a significant rerate to sp

Hi Red Lee & Sasa,

I believe you are also in PUR. They have just announced that they are presenting at an online proactive investors event on 21st May. I've put a link up on the BB.

Apologies to everyone else for the off topic post.

Regards, BB2.