Member Info for Dcat80

For those wanting to educate themselves a little…

https://www.geologyforinvestors.com/sediment-hosted-stratiform-copper-deposits-the-future-of-copper-and-cobalt-mining/

Wooster, it’s changed. Week before last just before Obelix bought £40k the MMs stopped just adding blocks to ask. Can’t see for sure, but possible whatever overhang been in book that it’s cleared. Since then book has only been affected by standard buys vs sells.

Main issue sellers are impatient and happy to hit bid, buyers on the other hand aren’t attacking the ask when little available or n/t to buy. MMs ultimately move the book to where they’ll be trades. More buys than sells this week, but trending down on little volume. Very irritating, fingers crossed next news flushed out few impatient now main overhang appears to be cleared..

Obelix - unlikely any 1 mm will fill that near current prices, better split to take out few MMs and probably get better price. Check message on Twitter

No worries, someone just tagged us both in a tweet so you should see an alert which if you click on will take you to it.

Give it a couple hours. If not I’ll get someone to tag us both and you’ll get an alert.

Fulmar - agreed. Get cash flow in to open door to further exploration and test work. Now you mention fodere does make me wonder how they’re getting on now, not heard anything about them for a while and think their plant was being commissioned for Q4 (although might be delays being in S Africa).

Obelix- I’ve followed you, you should see and be able to direct message me there now.

Yep think myfirstmillion correct. Dry might not be the most effective, but it’s cheap and easy. Sure it’ll do is for trial mining with its limitations and only concentrate credits. However wonder if with the recovery being so much better on VTM/Fresh ore we might look to a wet process at later stage such as full mining licence. In meantime the at/nearer surface oxides with the 66% iron credits get processed under trial mining

Obelix - no that’s not me. You the new account ending 974 that liked this mornings tweet from the company?

Think few of us learnt a lesson from Xtract in 2017, I know I did and think olderandwiser got even older and more wise from it to!! Still I kept it on RNS alert still from back then and by doing so it bought the Bushranger acquisition to my attention and was then just matter of waiting for the placing to drill it. So long as we learn from mistakes and don’t just blame BOD as we can’t possibly accept any responsibility ourselves (that’s a dig at too many PIs unfortunately) then we can make money further down the road!

Definitely some appetite from contractors for pitombieras, can’t recall whether it was hauliers or mining contractors that were responding to an article on LinkedIn, but they were asking to be considered for tender. Plus I suspect the new management hired in March have their connections. They’ll always be some risk starting production, but least using contractors most costs will be variable not fixed.

Joeman. I know you’ve been let down with Xtract in Mozambique, but Brazil is a much more established mining territory who will not be needing to bring in foreign nationals to work a deposit or import plant through borders often shut through covid.

The contract mining company will be experienced, be expected to employ locals of State of Ceara and have the relatively non specialists diggers etc to process which are readily available in Brazil.

Territory and simplicity of operation really does matter and we’ve got that going in our favour.

Fulmar - “ The favourable results also provide us with the necessary information to further advance the negotiations with potential traders and possible local buyers”.

We were already in negotiation (had parties with interest), I expect would have considered logistics to those parties etc with just the final product specifications required to get formal quotes/proposals on price and offtaker advance terms. Shouldn’t take too long to get these in, compare and agree terms subject to environmental permit and/or mine built.

Difference $9.88 makes compared to $6.30 against 300k tonnes is additional $5.3m revenue

Thanks TW

“The current average price is $9.88 per pound of V205, and it is our view that vanadium prices should remain well above historical average throughout the second half of 2021.“

Significantly higher than the $6.30 per lb used in our PEA

Local buyers are more likely the steel mills at port of pecem, doubt ore they currently source has vanadium so ours might be more preferable.

Can’t we have the 50 bag return first BF? ;)

If we do as well as Mariana did then we’ll be too busy celebrating to care about details!!

It’s generous both in respect amount and delivery objectives (bearing in mind how close we are).

Best scenario is it’s planned vehicle to get contingency into company as production starts for safety net I.e. options being converted (& again ideally retained)). I’d be happier then as safety net for starting production is handy and would beat any placing (especially bearing in mind how we’ve done since last!).

Worse obviously they’re flipped at time company doesn’t even need money at which point clearly only benefit to the option holders!!!

Example of recent offtaker advance on a small scale DSO iron project (10.7mt resource) with 63.7% iron and no vanadium credits.

https://www.proactiveinvestors.com.au/companies/news/955997/fe-limited-has-great-vote-of-confidence-through-glencore-offtake-contract-for-jwd-iron-ore-products-955997.html

https://www.felimited.com.au/projects/wwjwd/

As I’ve said many times offtaker advance is in my view highly likely to pay a part in financing of pitombieras. Discussions as per
latest RNS had already begun with offtakers “The favourable results also provide us with the necessary information to further advance the negotiations with potential traders and possible local buyers.”

Analysts usually just plug their own clients and some are extremely bias to a level of incompetence, need to verify everything they say. Not an issue for us at the moment as Brandon Hill haven’t done any notes for an age, an even bigger issue in respect of PR… It’s very disappointing lack of comms from them, hopefully they release something substantial after DFS or if not are replaced!