RE: RNS12 May 2020 15:57
Hello Yoshie,
Of the $1,000,000 monthly profit that CB keeps quoting, he says that about $400,000 per month will come from hard rock gold, starting later this year ( probably autumn at the earliest and some think as late as Q1 next year - take your pick!). The balance - about $600,000 per month is not likely to materialise until next summer and will come from copper processing in Zambia.
So still quite a lot of water to low under the bridge before we get anywhere near the 10-14p mark.
Eureka could be bit of a wild card, as the plan seems to be to do just enough work on it to build a DFS and then sell it off to one of the majors - I understand that CB has recently muted that it could sell for anything up to $100 million...but i'm not going to hold my breath on that one.
Some think that the income from Zambia is also doubtful, but I think otherwise - particularly as Colin is focusing so many of his companies in the area - including Bezant, Galileo and Jubilee Metals. Of these I find Jubilee Metals the most interesting as they are a serious company ( over £60 million market cap) and they specialise in making profits from tailing dumps left over from previous mining activity - they say they have some of the best expertise in the industry when it comes to maximising the profits made in this way and they seem to have been pretty good at it over the years . As they centre on SA and Zambia, I have a hunch that they will come into the frame at some point in the near future - Particularly as we have recently become the operators of a massive copper-tailing dump and Colin owns a big chunk of both companies!
On the whole, I would say we are in a better position than we have been for many years ( we even have £500,000 in the bank and reasonable alluvial income, apparently) so I would say that I am cautiously optimistic at the moment.
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