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I do believe that this information was published on 6th September 2023, referring to the 3 months June to end August, ie: before interest rates stopped rising!!
I would be happier to see the current quarter report!
DYOR
Does anyone know when the study into the economics of going underground at the mine will be published?
I recall some comment regarding the end of 2023 for an update. Clearly there would be a risk of a new capital requirement to fund the underground work, perhaps that is what is compressing the SP this year?
But what if it is too expensive to go underground, or if the costings are prohibitive? Too much risk of the unknown here at the moment, IMHO
Marula Mining PLC - Africa-focused mining and development company - Says its local partners in Tanzania: Takela Mining Tanzania Ltd and NyoriGreen Mining Ltd have made seven new mining licence applications at the Nyorinyori graphite project and the NyoriGreen graphite project. Says the applications follow phase 1 exploration earlier this month. Licences are anticipated to be granted in the first quarter of 2024. Says the new licenses will consolidate its position in the area.
Chief Executive Jason Brewer says: "Over the past month we have been making considerable progress at both the Nyorinyori and NyoriGreen graphite projects, with the Phase 1 exploration work targeting the high-grade and jumbo flake graphite mineralisation. With the mineralisation identified to extend over an initial strike length of over two kilometres, with our geological consultants, we felt it necessary to look to expand our footprint in the area to include additional graphite mining licenses that are believed to have significant potential for high-grade and jumbo flake graphite mineralisation... we will be in a strong position to consolidate exploration activities in the area to target potential high-grade graphite mineralisation.
Current stock price: 12.95 pence each
12-month change: quadrupled
That shows the way to promote the share price!!
Dee12345,
I recall that I did a similar calculation , and reached 55p as NPV, and then discounted it by 50% to reflect what would be needed to offer a mining company take an oven ready project. Remember, ACP is an investment company not a miner.
This had the added attraction of not having to go through the production process, and gives investors a sooner return.
However, that was before 2 years of silence. I am not quite so sure about the resulting 27.5 p number now though!!
Freedom, not sure that H1 2023 P+L is the game changer here just at the moment.
Take a read of the Chairman's report earlier in the year and see how many times he warns about the risk of being a single asset company with an existential problem .
If they cannot afford to go underground, or the numbers do not hold up, then it's bye-bye and thanks for all the fish.
It would be nice if they confirmed that they are still committed to the project, and to offer some timescale before further progress, hopefully without using the word imminent!
With the AGM coming up, if PI's are unhappy with the flow of information they can always use their votes in a positive and demanding manner, rather that sitting on the sidelines.
I have been in here since 2015, and will wait for the outcome, but would prefer some confirmation that the BOD have not all been stolen by aliens.
19th January 2019:
Nick Johansen, Director of Armadale said, “The Board of Armadale is confident that African Royalty and its related parties, who have significant experience of operating in the DRC, represents the best opportunity for Armadale to crystallise the value of the Mpokoto Project and begin receiving returns through the agreed royalty payments on gold sales. We look forward to reporting further news in due course relating to the development of Mpokoto and of our primary value driver, the Mahenge Liandu Project.”
Does anyone know if this 1.5% royalty has actually generated any revenue?
If the BOD cannot share their behind the scenes news regarding the Mahenge graphite project, should shareholders expect some update on progress on the gold mine? Surely an update on the gold project is due as it is now 4 years since they made the deal.
There is no reason for silence on this particular business stream.
Happy Christmas to all the PI family that has been faithful for so long. This bi-annual Christmas message is shorter than you may wish, but does come from the heart. We are all trying our best to progress the scheme, but there are a few challenges that we probably underestimated, but we know that you all will understand!
We look forward to imminently wishing you Happy Christmas for 2024, but don't hold your breath. All the presents will be under the tree for you to enjoy, just hold on until we make some more substantial progress before issuing the next RNS.
Signing off now for a short while, speak to you all soon.
Love, from the management team.
In 3 to 5 years they may not exist if they cannot cover their debts in the short term. This is one ship you should steer clear of!
Can I assume that the Canadian investment holding that we were told about has now been realised?
If that is so, then I assume the profit they made from the sale was quite a tidy sum. Good idea to catch that profit before the stock market started to fall, but it would have been nice for the report to comment on this sale, apart from showing investments have fallen to £79k from £421k.
Otherwise a good report, lots going on, but plenty of scope to have updated us all over the last few months rather than hibernating. Can the BOD take this on board and provide updates more regularly?