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Bubble, regarding mine life there are many permutations - how much "juicy stuff" there is under Parys Mountain (Jo's expression, not mine) and how fast you go at it - in this case 3000 Tonnes per day. A 12-year mine life is cited in the 2022 Annual Report: "a financial model for an expanded case at 3,000 tpd with a pre-tax NPV10% of US$120 million, (£96 million), 26% IRR and 12-year mine
life." https://www.angleseymining.co.uk/wp-content/uploads/2022/09/ANRP22.pdf
One we're underground further resource can be firmed up from "inferred" to "indicated" and then "measured" because the drilling machines are closer to the metal ores. That increase in measured resource will almost certainly mean that 12 years mine life increases by many years.
For those seeking to understand AYM's plans and prospects, the YouTube interview posted by Vib6er is worth 40 minutes of your life.
Jo Battershill speaks at some length about the great strides forward at Parys Mountain and at the Swedish subsidiary Grangesburg.
Paraphrasing what he had to say about Parys, we have known for some time that there are two easily-accessed deposits - White Rock Zone and Engine Zone - which can be started at a modest capital cost, and a further one - the Northern Copper Zone - with a vast amount of copper and zinc at high concentrations.
In order to begin operations AYM need to raise finance, and Jo's guys are beavering away towards the Feasibility Study which will give confidence to funders that they will see a return on their capital.
At around the 11-minute mark Jo said, "You have three levels of confidence in a resource estimate. You have inferred (you know, there's a drill hole there, shows some mineralisation. How big is it? Dunno). Then you have Indicated which is the second level. When you go into the mine planning stage you can't create a reserve out of Inferred but you can out of Indicated. Then there's measured, where there's even more confidence in the data."
"I've been in the financing side of this business long enough to know that to get these things financed.... you've got to demonstrate to the people who you're getting the money off that they're going to get their money back. The best way way you do that is to increase the confidence in every aspect of what you need to do and what you need to prove."
"Our payback period on this project is about three years. So you've got to have a minimum of 3 years of measured resource. That gives funders the confidence that in the worst case scenario they're going to get our money back."
"The reason for the Met Test work is that we're just doing a little trade off on the pre-concentration stage. We're currently aiming at Dense Media Separation at the front end but we're doing this test work to demonstrate whether All Sorting is a better technology. This met testing is costing less than £100k and the potential savings on getting the right outcome on the DMS is one to two million pounds immediately so it's a very high rate of return and makes a lot of sense.”
I don't know what "All Sorting" is (if I heard Jo's words correctly), but it's surely one possible process in the concentration of the mine output before shipping the yield to our smelter.
Jo also said that meetings with the various stakeholders are due within a fortnight - part of the permitting process.
He had plenty to say on Grangesburg. Europe needs about 60MT of ion ore per annum. Prior to the Russian attack on Ukraine supplies were a 20/20/20 split from Russia, Ukraine and Sweden. Our high grade ore (70%) will have a ready market.
Jo with his team of employees and subcontractors is driving these two superb mineral assets towards production like a Roman charioteer!
From the global warming sceptic site Watts Up With That:
https://wattsupwiththat.com/2023/01/24/the-copper-conundrum/
Yes, Harry, a great tragedy is being played out in Ukraine. I imagine that they were importing Russian iron ore before the invasion. If and when those steel works are rebuilt they'll be getting their supplies from elsewhere.
I'm reading David Lloyd George's WWI memoirs, beautifully written in c1933. He presents to his readers reports to Berlin from the German ambassador which later came into his possession, along with the Kaiser's hand-written margin notes in 1908. The Kaiser felt that his empire was surrounded by would-be invaders; was quite looking forward to a ruck and a quick victory, and reckoned that the ambassador should have told Lloyd George (Chancellor at the time) to "go to Hell" with his suggestion that the naval arms race was dangerous and should have "kicked his A---". And here we are again in 2023 with an adversary of the same conqueror mentality.
Good point, Andy. By "European steel industry" I mean nothing political. I simply mean "customers on our doorstep" with transport costs lower than if our product were hauled all the way to Asia.
Hi, Rodders. I reckon that AYM's two trump cards are (a) Owning two magnificent mineral assets in Britain and Sweden and (b) A CEO in Jo Battershill who has all the skills needed to turn these underground assets into pound notes. His skills include mining operations, mine finance, corporate governance and the vitally important human side - networking and interpersonal skills. He's a mover and shaker in the prime of life for a businessman.
I recall telephoning his predecessor Bill Hooley back in 2014 when my losses were enormous, with the intention of accusing him of being asleep on the job. I wasn't actually that rude when he picked the phone up, but said something like, 'What are you actually doing all day long, Bill?' to which he replied something like, 'Look, Brent, there are certain things going on that I can't yet talk about. If you'll just be a bit more patient you'll see that..... no, I've already said too much.' A couple of days later came the grand announcement that he'd pulled off the deal with Grangesburg. Such was his integrity that not a whisper of Sweden leaked out before the RNS made it all public.
Nine years on, not a spadeful of that great iron potential has been dug up (same with Parys's copper) but since Jo's appointment hardly a month goes by without a big stride towards that happy day when the first revenue arrives from a shipment of metal to a happy customer.
I'm no football fan (wrong shaped ball, mate) but I see a parallel with Lionel Messi's career. People were saying 'Despite all the skill it's absurd to suggest Messi's in the same constellation as Pele: he has never won a World Cup.' They ain't saying that no more, and when the first cheque lands in AYM's bank account from the first shipment of Welsh copper or Swedish iron (which will it be? beats me!) the patience of LTHs will be rewarded!
Here's a grim forecast by Seeking Alpha, reported by Not A Lot Of People Know That site.
https://notalotofpeopleknowthat.wordpress.com/2023/01/13/european-steel-industry-facing-potential-collapse/
Seeking Alpha reckon that "The prospects of the European steel industry being decimated should help to keep global steel prices relatively high, which should counterintuitively keep iron ore prices high as well." I hope this is true, and that Grangesburg's prospects are made brighter, but I can't see how a downturn in steel can mean an upturn in iron ore prices.
Do any of the contributors to this BB have knowledge of the European steel industry, in particular the electric arc furnaces in northern Europe for whom Grangesburg's proximity would lead to transport cost savings? Where are these furnaces, who owns them etc.
From that link: "the opportunity.... is now to advance the project through to a Financial Investment Decision".
Jo Battershill is advancing , as determined leaders do, through each stage in the proper order. Many metaphors come to mind - a military offensive, building a tower block, a jungle expedition. In each case, the response to the "why don't we just bloomin' DO it?!" question is answered by "not before the troops have ammo" or "not before the electrics are installed" or "not before the machetes and food are ready".
Jo is doing a great job. He has great energy and nous. I for one won't be tempted to sell any of my shareholding until the SP approaches 10p, and if that's in 2024 so be it.
John, you spotted my guilty secret. One of my Montecito therapists was making snidey comments about carrot tops and freckles. I complained, “You’re being gingerist, you are.” He replies, “I think you’ll find you’re the one who’s gingerest.”
If that was indeed you who sold your 2m shares yesterday, Huski, and if you were telling the truth about your 3.86 average acquisition price, your final 100,000-share tranches going for £2k each must have been a bitter pill to swallow. Turning £3860 into £2000 is surely not your intended aim. Your explanation - that the Taxman can't be kept waiting - makes sense.
Forgive me for doubting your word, but your expression "Scottish whiskey" contains two errors (look on the labels if the bottles actually exist). Your claimed car registrations M4 NCU, N3 WCU, V8 LFC, & X1 OUD are also problematic. Aimed at well-heeled football fans, I presume, but the DVLA in each case reported "this registration number does not exist".
I'm still baffled by your need to tell strangers about your dealings, real or imaginary. Flying off to Australia to buy black opals, you say.... my, you are a colourful character. Perhaps a pigment of your own imagination.
Huzzarski, something you wrote recently has been bugging me (being the man you are you may be glad to hear of this discomfiture). You wrote that "My rear is better looking than your squashed up face". Now I don't believe we have met. For all you know my face is as symmetrical and smooth as a 14-year-old Leonardo diCaprio (it isn't: my point is that you cannot know this) and thus you must be sitting on a thing of rare beauty.
Your derriere may be as aesthetically pleasing as you claim, but (a) is this your opinion or that of people who have complimented you on it and (b) what criteria do you use in this assessment? Just as wealth is a relative concept (compared, for instance, to Robert Maxwell you are a pauper and an innocent babe), your notion of - er - comparative buttockology (as in an identity parade or Mr Universe) is unsettling. Most people - sane ones at least - give no thought at all to - what would you call it, Huzz? - arstthetics. Whatever your response I'll take your word for it. Photographic evidence would be a step too far - perish he thought - yeeuch!
Well, this old chap certainly brags a lot about his body parts (yesterday 11:23), his promiscuity (ditto) and his wealth (on most of his postings). We all have strengths and weaknesses, and people who bang on endlessly about how proficient or successful they are are usually displaying their insecurity or, as you say gggg, are telling downright fibs. It's bad enough to listen to the Pub Bore, but at least the Pub Bore is talking to friends or acquaintances; this chap is seeking to impress complete strangers via his keyboard.
A friend of mine who is a therapist says that men who flit from woman to woman are often seeking to overcome a certain physiological defect - hydraulic so to speak. If this is the case with Huzzarski I wish he'd just buy a Labrador, bask in its adoration, and stop making a fool of himself in front of decent folk.
As for his hilarious "I am a wealthy bad boy wolf and you are a poor ******* ewe" this morning, by pure coincidence as I read his prophetic words an old Seekers song came on the radio: "But I know I'll never find another ewe".
You may have a point about your posterior and how handsome you claim it is. However I must ask this question: Is it proper for a man of your age to be writing about such intimate matters in public - albeit skulking behind a pseudonym?
You remind me of a previous Pantomime Villain who caused deliberate offence in this BB, and sadly shuffled off his mortal coil a couple of years ago. (I say sadly... for some his absence had advantages over his presence). Like you, he had an enormous chip on his shoulder. You must have big shoulders indeed to be so compelled to boast in this frankly hilarious manner about how rich you are, how superior you are to "loosers" (check the spellingski), about your many conquests of fish and women and stockmarkets.
Methinks the gentleman doth protest too much.
An interesting post. I must say that for an incomer your English is very good. You were privately educated, I'm guessing. Just a guess, mind, and if that were the case you might have learned a little about good manners.
Given that you are such a prosperous and talented man, is your family aware of your contributions to this chatroom. Hiding behind a pseudonym they may be unaware of them. But if they do read what you have written would they be (a) proud of the Old Man's boasts or (b) mortified that their Paterfamilias is such a vulgarian?