Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Zero. I have a number of shares in a Fidelity ISA. Fidelity periodically sell off £1-£10 of my shares (depending on the quantity I hold) to pay the holding/admin fees that are associated with my ISA account. Could these sort of transactions account for some/majority of the very small share volume transactions that we see?
I’m not going to bother responding to Kwadoku’s constant streaming of the same thing - day after day, week after week, yawn…. To do so would be to give him the attention he is clearly seeking. I’m filtering him instead, so I don’t have to look at his posts, and, more importantly, his posts don’t distract from those of the many excellent, and well researched, posters on this forum. Simples!
I’m in exactly the same position, Steve. Have had to refinance as well, as I’d hoped to be able to take profits before now to fund a project. But I’m still holding on to every share. I don’t know what the Sp/Dividend will be when Bushranger is sold, but I’m confident that it will be multiples of the current SP - so there is no point in bailing out now. I await the end-game with eager anticipation!
I’d love to have this too, Howezap. But having such a revealing presentation available to the open market, and potential suitors, all at the same time, may risk giving too much information away, and thus impact any financial negotiations with buyers. All just IMHO. I am not saying this won’t happen, but it would surprise me if it did.
Andrew - I appreciate your analysis. Thanks. When do you think the ‘Decision to mine’ will be announced? Colin appeared to make something of Oct/Nov timeframe. Did you pick this up as well?
The Roast guys have confirmed that they interviewed Colin on Friday. With the interview going out ‘probably Monday’. Can they have sight, under an NDA, of an RNS pre release (for Monday?). Otherwise, if their interview with Colin Friday was limited to what has already been announced, I can’t see the point of it - as surely there won’t be anything really worth discussing until after the next RNS?
Ben - that would make total sense. But I’m also prepared for a postponement of the Roast Interview, if whatever Colin expected to be announced ( when he agreed to the interview) is delayed. Personally, I think it’s a little soon for the RC model, so, if anything is published I’m of the opinion it will be Q2 results and, in particular, the gold revenues- maybe sprinkled with a few assay results. Just IMHO.
I’ve noticed, a few times now, that the SP climbs 5%+ just before an RNS is released. There is so much that we are awaiting an RNS for : Q2 results, Gold revenue, assay results etc.
Maybe we will get some SP building RNSs over the next few weeks, prior to the RC/Ascot model being published?
Some very useful diagrams in the attached announcement- showing location of the Cobre find and the direction of strike.
Can anyone work out if this strike continues through our licences?
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MM - I did 4 purchases between 3.50 and 4.20. Paid 1.35 for one, and 1.40 for the other three. I am reasonably confident that Sandfire will prove successful ( with a monetary payout to us, as per their agreement for the licences sold to them) and/or SF will buy our remaining licences. I am not confident, but hopeful that SF or another will make a bid for the whole company, as the only way the demand for copper will be met in the next decade will be by majors buying out minors/ explorers. I’ve made my investment now, so happy to wait for as long as it takes for this to play out. My more successful investments have been because I took a a view, invested, and waited.
I get the sense that we are becoming overly absorbed in our board about whether or not we hit 2Mt. And that the feeling almost is binary - we hit 2Mt and make a lot of money, or we fall short of 2Mt and make nothing ( or very little). This just isn’t the case. The only relevance of 2Mt is that it gives AA first right of refusal. If, say, we just had 1.5Mt, then I’ve no doubt that AA and many others would offer us a considerable amount of money for the licence. (Not as much as for 2Mt, obviously, but still a nice wedge). We are proving up a very attractive ore body, near a power line, very close to a major city, in a mining friendly country. And with the demand for copper, as the mine expands into lower CuEq %’s, which aren’t economic now, will almost certainly be in the future, with the gap in supply and demand as the world electrifies. This provides another compelling reason to buy the licence. So, so long as we declare a reasonable resource ( my view, 1Mt+) I’m convinced we will have our hand bitten off. And I’m not saying we don’t have 2Mt+ - we may well have, and that would be brilliant, but let’s not get depressed or caught up in the view that we have to get 2Mt to make money.
IWTO. I’ve been a holder for over 2 yrs. I’d love 2Mt+, but even 1Mt will see this being a highly desirable ore body, and will be sold. So I envisage a few multiples of the current share price, at worst, with the potential for much more. So, I’m happy to wait now for the end-game on the disposal of Racecourse.
Grateful for clarity from someone with better knowledge of the contract. If the Racecourse model declares 2Mt+, does this, or does this not, trigger the invitation for AA to buy back, and start the clock ticking on the time AA have to come in with an offer? I always thought this was the case, and hence why 2Mt wouldn’t be declared until Ascot and Footrot inferred resource could also be included. So that a total resource JORC could be declared, and the whole lot offered in a single parcel. But Howezap’s comment has me thinking again.
Howezap, I read it as the ‘decision ‘ being whether or not AA buy it. And if they buy it, AA develop it. If they don’t buy it, another big miner will, and they, themselves, will develop it. In this context, the ‘when’ refers to the timescale to sell it - very quickly if AA take it, after being given first refusal, or longer if they don’t take it, and it goes for sale on the open market. I don’t doubt that AA have the money, resources and capability to develop it themselves, if they take it.
That’s my interpretation of the statement anyway. Not saying you are incorrect - it’s just a different meaning from the words that I took.
The reason for the XTR rise today was the announcement that the first gold had been poured at their Fairbride operation in Africa - so in a month or two they should see circa £500k a month from their gold production in Africa. That then funds any continued exploration costs for copper. Lovely position to be in : gold producer and copper explorer