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I'm probably clueless but judging by the first large sells that came in at 38-39p on the 28th May right from the off, it's like some actor with a lot of shares said to their broker "sell x million shares with a floor of 38p, maybe with a deadline by tomorrow, and they've just been picked up as PIs step in. Like several have said already, possibly one of those involved in the placing taking a quick profit.
T123, I think that's what we have all been thinking and hoping.
I don't know what the requirement is for mobile equipment but nobody seems to be mentioning it so maybe easy to source.
First pour in 14 months.
I'm from the cement industry and the Indians erect full grinding systems from scratch in 10 months.
...and the company seems to be swimming in experience and connections to do exactly what is required.
Yes if the processing plant land has been purchased - which as CF notes, we already know to be true - then what's required is 1) Suitable, allowed access for the trucks bringing the equipment and 2) the civil engineering work (office, and then construction) - and for that you don't need the equipment on site. But you do need to know exactly what it is you are buying.
Given the somewhat unexpected jump on putting down a deposit on a mill I'm fully in the camp that things are being accelerated for all the right reasons. There is no way anyone would be unnecessarily delaying at this point. I'm fully thinking commencement civil construction Q4.
Forget Last post
20th March
Jim Mellon 1, 2 14,738,147 15.50%
Nicaragua Milling Company Ltd 9,842,520 10.30%
Ross Beaty 6,556,903 6.80%
Mark Child1 4,144,167 4.40%
Oracle Investments Ltd 4,077,038 4.30%
28th May
Jim Mellon (1,2) 16,985,297 15.00%
Nicaragua Milling Company Limited 9,842,520 8.70%
Ross Beaty 7,118,323 6.30%
Oracle Investment Ltd 4,761,969 4.20%
Mark Child (1) 4,171,564 3.70%
20th March
Jim Mellon2 14,738,147 15.50%
Nicaragua Milling Company Ltd 9,842,520 10.30%
Ross Beaty 6,556,903 6.80%
Mark Child1 4,144,167 4.40%
Oracle Investments Ltd 4,077,038 4.30%
Good stuff, thanks ajmj.
Anyone with any logical idea of who might be selling?
I can only think of a disgruntled investor. But that's not very logical.
Maybe Jim Mellon is selling some of his stake to share the love with PIs.
What happened to the supposed (non-placing) warrants anyway?
Well, everyone has the opportunity to buy at pretty much the placing price.
This one you can:
https://www.youtube.com/watch?v=tQnZCWjcWyQ
Let me echo the thanks CF.
Looks like the 1000tpd open pit scenario is no longer an "Option" but now a "Proposal".
And: "Commercial production of 1,000tpd to 1,500tpd could be achieved in 2021"
We just need to be careful when talking about second hand equipment that we are referring to *installed* cost. If not calculations / forecasts could go awry. So far most references have been to "equipment cost".
Nice strong message.
Surely a sensational buying opportunity. Minimal volume taken us down here.