Member Info for Dcat80

The other post below is from the PEA. This uses a higher resource than Valore recognise and double the production. If the Capex savings later announced had been incorporated within that PEA it would have produced IRR of 91.68% before taking into consideration metal price changes.

Obelix - you never know someone’s situation and whether they the money, or just fancy something else being promoted.

Pedra Branca project economics
Pea economics - June 18
After tax 67% irr - 1.6yr pay back
Npv $192m
1.36g per tonne palladium equivalent
2.2mt per year production
Capex $64.4m
Opex $17.31/t

Since
Capex reduced to $43.9m Nov 18
Resource up 117% Jan 19
Palladium up from $900 to $2250 per oz

The PB scoping study envisaged processing 1.1m tonnes ore per annum at 0.76 g/t palladium and an 85% recovery. That’s about 22,200 oz palladium per annum

Capex was $38m and IRR 80% post tax

Palladium price in that study was $849.

Today’s price would amount to an additional $30m PA revenue.

Not many projects out there that would pay back in less than a year. PB clearly falls in that category

DS - good catch, there’s about another 5m held by consulmet for services rendered which I’d forgotten about. Same terms (strike/expiring date) as the 35m warrants from Sep 18 placing.

Platinum at 12month highs. Probably on back of current S Africa power cuts.

https://twitter.com/davidca041980/status/1217370173520470016?s=21

BF - 6p is relevant for the 35m warrants which expire in October this year. I would also be disappointed if assets did not realise a much larger MC and SP (BOD are fully aligned not just to dilute!!)) over time

Released their Q4 production numbers today are currently up 10%. Was hoping their might be some comments on their ti02 study which could have been a good gauge for us (their grades 19% ours 33% in the non magnetic ore). Unfortunately they’ve not released anything on that side yet, with guidance for an update being “early 2020”

It would be nice. There is certainly a few catalysts that could trigger a re-rate and as has been mentioned plenty of times our current MC is more than covered by our shares in Valore. Really isn’t unrealistic to expect some value for the Vanadium/ti02/iron project, market just isn’t at all logical at times!

3 warrants. Maybe a few more than that ??. Meant 35m warrants

Obelix - Similar average to me and I suspect a few others.

3 warrants with a strike price of 6p expire in October, will be interesting to see if we get near that level before then. Guess tysr be largely driven by outcome of PEA in Q1/Q2.

There wasn’t much volume down at those levels. On basis that Brian and Luis bought 12m at 1.3p between them
without any other TR1 announcements it would appear either Valore insiders bought the cheap stock to vote through the PB deal then sold onwards to Brian/Luis or MMs has accrued the stock and it was from them the directors bought stock. Either way there shouldn’t be many with averages below 1.6p

MMs were short hence sudden big increase in cost to buy, however they seem to have found a seller at 2p. Slowly does it, seems odd to sell just before news flow is expected to start again.

Well you’ve done well to be able to pick up a quantity sub 2p. Well done!

Something looks odd there.
£7500/677613 = 1.10p per share paid.
Might want to recheck what you’ve got, if correct you’ve the deal of the week!

The mms are certainly being a pain. I’ve had to set over 4 small fill and kills in a day just over ask to move them on.

Last couple of times we had 1.9p on the bid it attracted a seller. Think you will need that seller to reappear for buys at 1.95p. Will be interesting to see if that seller reappears or is done, if not at least the shares will move into your sticky hands!

Can’t you instruct your broker with a fill or kill order? Don’t want people not being able to buy just because the MMs hate only set small amounts to buy.

Good to see a few unfamiliar names taking an interest and welcome to the chat board! Hope your interest rewards you well, though I may be a little biased in that hope!

Richmondo - it’s good to have someone with wider vanadium interests on board, hopefully with your experience on these other projects and networking with their shareholders you’ll provide a different insight. If you’ve not done so though I would recommend reading up on the titanium dioxide (ti02) aspect. This is the area Jandaga really stand out and will I believe be the main revenue driver. The Australian play TNG Ltd is more advanced than Jandaga, but covers the ti02 angle quite well. Any questions please shout and I’ll attempt to help!

Finding articles on ti02 isn’t easy - it’s usually paid for reports. Worth having a quick read through the below. I was particularly happy to see ti02 price nearer $2900 per tonne than the $2k I had earlier come across

http://www.european-coatings.com/Raw-materials-technologies/Titanium-dioxide-World-demand-shows-a-pattern-that-is-far-from-smooth

Found the dfs of this Brazil pure iron play interesting, with grades of just 29% it’s economical. The grades at PW are significantly higher and then we have the more interesting and valuable vanadium and titanium dioxide!

https://www.centaurus.com.au/uploads/files/announcements/2019/CTM_050719.pdf