Member Info for Caposoka

Well I thought the little dip today offered a good opportunity so I did my bit and accumulated a few more. One day I shall admit to the other half what I am up to but not just yet!

would be nice if it was genuine and not an overnight setting. Or fat fingers getting two digits back to front....

Yup - more or less. Last few years have been 17th, 27th and 13th so most likely some time in 3rd week of October for Q3 production update.

Good find Skid. Who knows - timing Bronagh to be in dry dock in Q3 may end up being a profitable decision.

Yup, no hiccups so Q3, another good production period, unit costs trending downward, turnaround story continuing - all supporting the SP. Maybe being priced into the recent rise. Certainly appears to be consolidating, not just a spike. Personally, high hopes for Q4. Shipments will (prob) be a record as they catch up on Q3 and traditionally Q4 is a high production quarter as they mine higher grades to build up stocks ahead of inclement weather in Q1. Not 'til Jan for that particular fanfare.

Last couple of times we had a large spike - Sep 16 / Jan 17 - coincided with large disposals - a pump and dump to allow an exit. Lets hope this time it is maintained. Personally believe it will be but would be interested if anyone has an explanation for the jump.

By getting Delano on the sales team and reducing this pesky lag effect on ASP (only on the way up of course).

BF - I'm sticking with the 100M+ capex for WCP C and take the ref to 'low cost' as being chipping at the edges - improvement in technology, smaller units etc etc so it may be nearer say 90-95M instead. If they were thinking of only 20M+ for very low cost options then Greeno's dividend would be that much nearer and may be even flagged by now. For what it is worth, my view on development sequence will be: 1) upgrade WCP B - a low cost easy win. It takes a year to do and as WCP B is due to be relocated in 2021-22 if it is not done now, they might as well wait a few years and do at the time of relocation. 2) invest in WCP C (the balance of the '100M') and get it up and running before WCP B relocation in 2021-22. WCP C to go to (prob) Pilivili. Alternatively Congolone but Pilivili appears favourite being closer to existing plant. Both similar size and approx. 20 year mine life if using only 1 WCP. Both are clean sand deposits, with low fines and ideal for dredging so the cost effectiveness of this would preclude a 'dry option' (interesting thought nevertheless). 3) relocate WCP A in 2025-2026. Both WCP A and B end up in Nataka which is by far and away the largest deposit and the only one where it would be cost effective to use 2 WCPs in parallel to each other. The HM will be 2.8% only and is another reason why I think a 3rd WCP will be needed - to generate sufficient production to offset this..

Dividends to return in med term - yes. Symbolic or something meaningful - who knows. Anything would be a positive signal. Share buybacks - nice idea but no chance. Lenders can retain or sell in the market place already so makes no difference. If they drip feed into the market, the effective free float will increase. If they place with an II, simply a footnote at the end of the debt spiral phase which is already more than a year in the past Already with loans of USD 100M+, soon to enter capex phase again for another USD 100M, company will retain cash generated to prevent a repeat of the past. Given the lower mining grades predicted, investing to keep up production gets my vote.

Morning Delano. Note 109.6M shares in circulation so near 9p increase to reach a 10M GBP increase

By coincidental timing or not, recent rise from 260 has mirrored timing of Sunsirs spot price finally breaking long downward movement and starting to rise again. http://www.sunsirs.com/uk/prodetail-645.html

Any quoted prices in China would be CIF so if you strip out approx. 15% shipping costs for break bulk you would not be too far off. Thought the various Ruidow articles were interesting today. One of them indicated that Chinese firms shut down in recent environmental clampdown have been selling off stocks, this is coming to an end and is a contributory factor in more recent upward prices pressures. Another quoted zircon costs as forming only 0.5% to 2% of ceramic costs so plenty of scope for zircon to increase without majorly affecting pricing for downstream users.

Also to note, 0.036 ILU shares per KMR share equated to 15.6p at the time (not 17p). This was subject to DD which KMR allowed. After DD, the revised non-binding proposal was 0.016 shares (equiv 7p) subject to pre-conditions. KMR worked towards progressing these. After failing to satisfy the pre-conditions, ILU withdrew. The proposal by that stage was circa 2p but no firm offer was ever made. ILU's announcement 07.12.15 stated any offer would be “reaching commercial agreement with Kenmare’s lenders regarding the treatment of Kenmare’s indebtedness in the event of a change of control, including the continuation of a project facility from a subset of existing Kenmare lenders after a change of control, at lower interest rates;” 2p would have equated to a MC of GBP 56m being distributed to shareholders but by this stage SGRF were on the scene so it was all irrelevant. As someone who invested heavily at 30p+ and again at 28p, 27p, 25p, 22p and so on to the bottom, I was anti ILU from the start, It would have crystallised a very large loss. By that stage KMR were priced for default and the whole episode offered a fantastic buying opportunity for the brave. Simply by accumulating / averaging down repeatedly, I have returned to positive territory. Anyone remaining with a loss after all this time should look at themselves first, as I do when considering my initial investments. BTW I know other shareholders who lacked the confidence to invest further and saw better opportunities elsewhere, I fully understand this view as well. Each to their own.

Agree but what else would you would expect from a dry mining operation of 7-8% grade ore bodies vs dredging operations of 4-5% ore bodies and a resulting cash cost per tonne (currently) less by 15%? Also to note, KMR's net debt has fallen 6M in past 6 months, ignoring increased inventories and improved payables / receivables such as paying off past arbitration costs.

Brought into BE at 3p at time of raising money for corporate expenses / head office etc etc , convinced in no small part by Greeno talking sense. Still holding. Still much appreciate the heads up given at the time.

Agree - a good presentation... https://www.baseresources.com.au/wp-content/files/170907_BSE_ASX_ADU_presentation_September_2017.pdf

Maybe difficult after a 40p increase for others to find reasons to post. After all the upset on the other BB a couple of weeks ago, you may be surprised that I saw enough wheat a****st the chaff to make a modest investment there. Find it an interesting prospect although I am not motivated to post anything there. For KMR what's next? - Q3 update is 5 weeks away so my next interest is on progression of any feasibility studies . To get WCP B upgraded by 20% by this time next year must mean action is being planned fairly soon. Would be nice to know more on this.