Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Suddenly reappeared- magic!
I posted here this afternoon but it seems to have vanished. Anyone seen it?? !
Couldn't help but notice this excellent post a while back:
"Here we go with your 3-6 posts '1 month old dodge account' you won't last long here, believe me.... Spreading FUD - fear uncertainty and doubt - over the bulk underground, because that's essentially the only unknown left that such disingenuous posts can target.
Last year we had months and months of tecnhical FUD with the GreenTool and others - who said Havieron would never be economic... but here we are 12 months later with a gigantic starter deposit, a $50m decline going in, and $50m GGP cash funding to DFS, and a published phase 1 mine PFS to take to the bank ... so NCM can get ore to Telfer ASAP.
You may be able to confuse and scare the un-researched with your manipulation, but you cannot touch Bamps or me.
For the rest of you MrBig is a skilled and devious operator who last night was attempting to exploit an ostensibly clever argument. The posts were subsequently removed this am. For the correct reasons.
What he/she was trying to do last night was apply NCM's conservative, underground stoping phase 1 mine operational costs @ $84/tonne - actually $81/tonne according to GGP using the correct exchange rate to Bulk Underground production.
The first Stoping operation has naturally has lower volumes, due to the inherent volume limitations of the Stoping technique and higher costs - ore transport to surface limitation, requirement for drill and blast / explosives, and extra material handling, and subsequence labour in back pasting costs )
But you cannot apply this to the anticipated Bulk under ground block caving grades of the larger scale deposit where the cost per tonne would be circa $25-27/tonne
This is a totally and fundamentally inappropriate comparison made by BiggL - It's like comparing two completely different company cost structures, AND specifically designed to imply that anything under 1.5g is likely to be 'uneconomic'...
And It's total BS becuase we ALL know that Cadia is economic down to 0.4g/t Au... specifically due the bulk efficiencies of the operational costs.
And very much like comparing and interweaving the cost structure of building Ferraris directly to Ford Fiestas -
IE both make massive profits, BUT in TOTALLY different ways . Obviously You cannot make a profit building Ford fiestas in the way you build a Ferrari though. That would be loss making.
That's the best analogy I can come up with. And that is the tactic of this poster. Always Happy to smash them into touch.
Expect Multiple shorter accounts with a very obvious agenda.s
Regarding bulk underground : The only question is will this be a block cave or a more selective sub level cave...? Anyone with mining nouse can see that.. The grade in those breccia are nothing short of sensational. And a mine in their own right."
Terry Grammer was very excited by the SAU projects and gave it the green light . Simon Mitchell hasn't been the best champion of Southern Gold IMO but I have every faith in Rob Smillie who has now taken over the reins and is already in action on the ground in South Korea. Covid has put a heavy dampener on exploration in SK, but I for one am confident that SAU will do a PAM in time.
https://www.investorschronicle.co.uk/news/2021/10/07/how-to-do-m-a-in-a-commodities-bull-market/ Helpfully, another Australian miner has just shown what the market will accept for a copper project. This deal was announced in the last week of September, after Sandfire Resources (Aus:SFR) offered $1.9bn (£1.4bn) for three underground mines in Spain, known as the Minas de Aguas Teñidas (MATSA) and currently owned by trading house Trafigura and Abu Dhabi sovereign wealth fund Mubadala.
This operation produces around 100,000 tonnes of the red metal a year, and has just six years of current reserves left, so is not a world-beater. It is very low-cost, however, with a cash cost of around 60¢ per pound (lb) of copper for the most recent financial year, compared with the nearby Proyecto Riotinto owned by Atalaya Mining (ATYM), which has forecast its 2021 cash cost at around $2.30 per lb. The deal price looks like great value against MATSA’s financial year to June 2021, on a multiple of five times cash profits, but somewhat pricier on 11 times the 2020 figure.
Aim-listed Metal Tiger (MTR) is a Sandfire shareholder and its chief executive, Michael McNeilly, said the MATSA deal gives Sandfire the “scale and size to be relevant again”. Sandfire was facing a gap between a current operation closing and another reaching production.
McNeilly, whose company also holds stakes in various junior miners at the equity and project level, said BHP’s interest in the DRC was likely a case of getting in ahead of the competition. “They’re thinking if they don’t go, somebody else will," he said. -----Therein lies the difficulty – is it worth potentially paying over the odds for a very early-stage project to rip it from the hands of competitors, or pay even more for something that is more certain? In BHP's case, the likely answer is yes to both, judging by its latest financial disclosures. Its copper exploration spend of $54m for the 12 months to 30 June – compared with over $500m for petroleum – shows dipping into those bursting pockets might be the only option.
Not forgetting the 125k RDT warrants at 0.25c with 3 years on them Hydrogen :) Looks like RDT could go higher too with plenty of potential positives in the lithium pipeline. Yes well done MTR !
Talented analyst or blithering idiot? :):):)
Definitely SFR ETF material now Hydrogen! They'll be the biggest copper miner in Oz which status KS will revel in :)
And yes, expect the MTR balance sheet to benefit. Simon Thompson will have a veritable field day :)
Agree Hydrogen. Very pleased to see this big deal. The Spanish company won't need a huge amount of management as it's a fully going concern so no attention will be diverted from Bots IMO. The short squeeze I see as a real possibility so well done KS. His commitment to copper will raise the SFR SP and thus value to MTR. Also this was my take away from the MTR RNS today “Metal Tiger will update shareholders in due course about its intentions with regard to its rights under the equity offer and is currently exploring several options.” I wonder if some shrewd restructure of the equity offer is on the way? Left of field developments always welcome .
I'm sure with KML that they've reached a stage where they're analysing the results of KIT-W + KIT-E drilling. Discovery Drillers were slow and using second best of the rigs + teams, as SFR have all the best ones. A new team Mitchell's have taken over and drilled the last of the holes I believe, which was a DD hole at KIT-W. With enough data on the table the tech team will be commissioned again to compare results against AEM and select the next targets and so on. A slow strategic process. Once they're more sure of the geological structures at KIT-E and KIT-W then news will come. I don't think we'll see reports of visual cores and 'excited geos jumping up and down' after a few holes in an attempt at a classic AIM pump :) But we will see some hard nosed facts.
With the Evergrande storm raging through the commodity market if MTR bide their time there will surely be opportunities galore as the markets stabilise. No shortage of cash in the coffers.
"A third rig is expected in mid-September to follow up encouraging widths of disseminated copper
mineralisation in MO-A4-210D ~1.5km north-east of the A4 Mineral Resource".
So that rig should be in place now and fingers crossed they can join the copper dots all the way from 207D, through 010D +008D + 003D to 210D and beyond.
A4 PFS due within the fortnight and A1 exploration to start soon. 2% NSR on all copper & silver kickers. Could be worse...
I'm hoping the board will note the present struggling share price and quickly find ways to reverse the sentiment. I can see the next A4 news, PFS and A1 initial drilling as catalysts for renewed interest but other upward drivers would be welcome. I've been invested in MTR for over 5.5 years so I'd like to justify my holding in the near future.
https://twitter.com/chrisjparrish/status/1436602522182033411?s=20
2 rigs on hole 207D with another arriving mid week next to test 210D. Ducks in a 5km line?
I think MTR will have made a hefty profit out of PAM's somewhat unexpected rise KB but I'm sure with the benefit of hindsight they could have made a lot more.
"Work is well progressed on a Pre-Feasibility Study and maiden Ore
Reserve estimate, due for completion in the September quarter 2021" . Wonderful news. Number crunching time then to add more to the Royalty calcs. Then on to A1 with a full drill team...
I managed to download the Africa Down Under presentation by KS. (via Paydirt) Boy is he bullish! -"We have 2 copper mines in Western Australia, we’re developing one, albeit probably 2 in Botswana" "I expect a rapid transition from 3.2 Mtpa to 5.2 Mtpa" "JH having a ball in Botswana- hitting some of the highest grades Cu ever found in the KCB" "He's going from 5 to 8 rigs very soon" Focus is on Motheo Expansion Zone" 'News on the exciting exploration results in 3-5 weeks" "It's an enormous opportunity..." It feels just like the moment before MOD/MTR hit T3 in 2016 ( I said that :)
Sure KB. In the ASX prospectus MTR hold 5553174 shares for c 4.4% of PAM. Nice :)
Lol. He'll be perfectly at home there with birds of his feather . A canary in a coal mine somewhere ?