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Surely the default occurs when the payment becomes overdue ?
The payment is due today but since we dont know the exact terms of the agreement how can anyone be certain on which day the default occurs.
Buy an ore sorted and transport 70% of ore produced to Duck pond mill then concentrate on to Cove
Buy/move mill to Ming and transport concentrate only to Cove ,less than 2% of ore is transported.
We really need both but if can buy only one i prefer mill.
Assuming Newgen do a deal of some sort ,Rambler must also raise sufficient additional money to move the mill to the Ming mine site in the very near future or else the cycle will repeat.They need to cut costs to be economic.It is no good having a wonderful asset and a super duper newly modernised mine and then shipping the ore to Duck pond mill.That costs too way much unless the copper prices take off straight away.Reduce costs or there will only be one outcome.
So we wont be the first underground mine in history to be wiped out by a hurricane.
That just leaves the power cable to fret about now.
With our luck .....
I will play along with you.Is it because Riverfort deal means Newgen are more likely to reschedule?
Ore sorter and they are still trucking 70% to get the concentrate out.With a mill on site they only truck the conentrate ,about 25 %.Doesnt increase copper output though.Hope it isnt all academic now.The Duck Pond mill they almost bought may prove to be a very expensive near miss.
From todays RNS
The Company has established a production profile to meet current mill capacity of 1,350 metric tonnes per day with a target grade of 2% Cu and is evaluating growth opportunities from that base.
Does this mean we are now producing 27t of copper per day? ie 2% of 1350.
If so that means we are now producing over 800t pcm
LL2 ,you only ever mention how fund managers operate .The SP of Rambler is influenced by many things ,not solely the actions of fund managers.
Was this in lieu of the monthly update ? Think we may have a couple of weeks wait as the following was taken from the Friday RNS
Dr. Toby Bradbury: The one area, which we are still working on, very hard, right now and we will get the information together, in the next few weeks, is to give a really strong indication of where we think the Company is, from an economic point of view. As hard as we have been working on improving the performance, in the underground, we are actually working on improving our management accounting arrangements, so we have better financial information to make decisions on.
Guess 640,anything over 600 will do cos we are sustaining the progress.
If you view the turn around as consisting of 2 distinct halves,vis first half bringing the mine up to date and second half ramping up production then the vast majority of missed targets and mishaps came in the first half,which has now finished.Every RNS was greeted with a degree of trepidation.Wheras now imo the June production figures will actually be anticipated with a degree of optimism .
My wild stab is for the SP to creep up 2-3p before the June figures are out then anything can happen depending on what the numbers are.
Well pleased with that.significant progress on several fronts and no mishaps.Gives more confidence that things have turned around.Well done to the management.
lIKE to see 600-650 + tons so that guideance can be maintained but imo not a matter of life and death.
NEED to see 500+ tons and no mishaps so we can have some optimism that things are progressing,but at a slower rate than hoped.
Seems MBs guess that K2 was selling was actually correct.
Well done
Bit disappointed ,but this was always likely to take time so more patience needed.When the news broke re the additional exploration licenses i did think then that the timescales may all be put back significantly.I will have a wild guess that this may be a factor in the apparent lack of progress .
Question,for such a modest quantity why did he even bother ?
Answer,to send a coded message to the TobyBradsquad that all is well with the numbers so far for May!
Message received and understood,over .
If you have the time,is it inherently more difficult to run a single mine as a stand alone entity compared to a company that produces from several/multiple mines?
Clearly with the latest problem Ramblers ablity to produce was compromised much more than if Ming was one of a number of producing mines under one umberella but iyo does it make it any difference at all to the likelihood of problems occurring?