Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
I'd read that RNS again January. Ohhh the irony 🤡🤡🤡
9.3% up from session low now.
Lol Jammin Yes 🤣🤣🤣
Freudian slip??
That's from 2018 by the way... Just a little reminder of the kind of things that go wrong, just as you hit commercial production
Https://www.spglobal.com/marketintelligence/en/news-insights/trending/VYa0S6qw0azoeN3xNUFVXw2
Hummingbird Resources PLC said May 29 that at least three people were killed following a security incident at the Komana West deposit within the company's 80%-owned Yanfolila gold mine in Mali.
Hummingbird said several individuals were trying to prevent the company from carrying out initial site preparation work at Komana West when the incident occurred. This group disputed a plan to extend mining within the company's permit area.
Two of the deceased are believed not to be Malian nationals.
The process plant is continuing operations, and all company employees and contractors are safe, Hummingbird said.
Yanfolila achieved commercial production April 1 and is expected to produce between 105,000 and 115,000 ounces of gold this year. The Malian government owns the remaining 20% interest in Yanfolila.
It's all at 8% Jammin bar that 20 million at 12%. I can't remember exactly without trawling through but if I recall there's also 6 months interest breaks from the time the debt is drawn down.
12 months average gold price now at 2k. Even if you think Kor is finished Yani is still producing 42 million EBITDA, with over 35 million in cash and gold.
It's ludicrous and extremely naive to think this is anything but finished.
Has anybody actually bothered to look at trade volumes this morning before publicly calling in the undertakers???
Back within the wedge by the eow
Jammin.
150 million is not at 12%
Only 20 million is at 12% and that's also deferred for 2 years.
Impossible to call what are buy and sells after that kind of move imo.
Spread has finally tightened though
Yup tango... Inverse pump and dump.
Company has enough cash at hand to make first debt repayments and gold at this price ensure Yanni production alone can meet out the debt.
A long way from death spiral book build and warrants eh Billy? 🤣🤣
Funding isn't needed now... The problem in that update is a lack of information rather than the news it's self.
Corica being ordered to returned to work, so looks like they're not even turning up for some reason.
It will take around a month to replace the fleets, with one non corcia fleet on site, they can at least continue with blasting, just at much slower rate than expected.
I did say there was staffing problems and commercial production would be pushed back.
At Least at these prices plus cash at hand and Yani, should be able to afford the debt, if Coris can be kind enough to add another 12 months to the schedule.
"The Bank of Mexico unanimously decided to maintain its record-high benchmark policy rate at 11.25% during its January 2024 meeting, in line with expectations. This decision marked the seventh consecutive session of a pause, following 15 interest rate hikes since June 2021."
The problem FRES has tornado is the yield, who wants mining risk for a 1% return when you can get 4% risk free on 2 year notes?
It however at a tipping point imo, higher metal prices translate to higher distributions of income which should be increase in like with higher metal prices which inturn become more interesting for income investors as rates begin to fall.
For me at least this is a pivot trade we should see leveraged capital returns as soon as the fed and MCB start to pivot, perversely though FRES needs the MCB to pivot first.
There seems to be a high turnover too, for everyone on linked in posting about being their 12 months there's at least 3 more reposting their CV's.
Are they hiring and firing to burn through the unskilled locals?? Would explain a little why they're now only advertising for key roles.
To me at least it looks like they folded to much against the protesters about local hires imo.
There's clearly a local skill shortage
Stab at 107
Hands up, who regrets buying this piece of 5h17
Https://www.linkedin.com/posts/vafing-camara-1bab90104_un-1-ing%C3%A9nieur-de-la-planification-miniere-activity-7172913532475293696-3mAn?utm_source=share&utm_medium=member_android
I've got a feeling commercial production is going to get pushed back to Q2
They're like broken clocks all these perma gold columnists.
"This time next year rodders"