Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Can anyone think of what sort of things the below costs would cover, £3.1M in 6 months seems high.
“with the reduction since December 2022 being accounted for by £150,000 in capital expenditure, £950,000 on development expenditure on its assets portfolio, and £2,031,578 in costs.”
@Saint68; the financials were up to 29 June;
Hopefully they’ve sold the concentrate since then though.
“The Company’s cash position, including US treasury notes, at 29 June 2023 stands at approximately £1.686 million*. In addition, the Company’s unsold PGM concentrate is valued at £4.1 million (net of VAT)”
@Mr Wolfe; I’m hopeful but not confident. I can guarantee I will do everything I can to get some answers and hold them to account. I’m logging in early to try submit all my questions and hope others do the same.
PS; filtering IKN & DR is the best thing I’ve done on here 😀
@kammy18; i know it’s a very difficult situation for the bod with regards to ukraine, let’s not forget it was the bod who ended the fsp with no formal offer and decided to go billy big ****** with a credible party as they’d got the rosgeo jv. they put all the eggs in one basket and it went pear shaped.
fyi, only cs has shares on the bod
@Kammy18; without a sale the SP should still be worth much more than 2.75p. Unfortunately the bod have announced to the world that we’re not going to progress towards production so until the asset sale is announced we are at the mercy of the MMs
I’ve just been looking at the remuneration for 2022;
JN went from £350,000 down to £180,000 last year. That’s nearly a 50% drop yet supposedly according to the AR he did a “great job” with getting MT DFS & WK up to full production, no wonder he left! CS took around a 35% drop £187504 to £120,000. The others all costs us more (can’t be bothered to work it out) yet what did they achieve for EUA in 2022?
@Kammy18, why should people sell up until the BOD give us the facts as to the true value of the company. ie everyone knows they’ve got the MT DFS, JORC for Nyud, possible upgrades for NKT, entitlement to nyud licence. The issue is they’ve not released any of those to the market hence why the sp is so low (yes I accept ref the war).
@BOB; isn’t that the issue here, no one has delivered an Asset sale to date.
We’ve got plenty experts, legals etc on the books. All we seem to do is appoint more people with the same outcome. I can relate to the proposed two Russian appointments from the AR. Do you honestly believe a geologist from Ireland who’s planning his retirement has any respect at the Kremlin atm?
I’m not convinced we need so many on the BOD, too many cooks spoil the broth etc shouldn’t we be trimming our costs?
CHRISTIAN SCHAFFALITZKY; Executive Chairman
IAIN RAWLINSON; INED, Barrister
TAMERLAN ABDIKEEV; Japan EUA v 2
KOTARO KOSAKA; Japan EUA v 2
VASILY KUDRIN; CEO West Kytlim
ARTEM MATYUSHOK; Mergers and Acquisitions
KONSTANTIN FIRSTOV; Country Manager (Russia)
DMITRY SUSCHOV; Mergers and Acquisitions Officer
DIMITRI REACTS; Social Media Ambassador
@B1ll; I get what you’re saying but it was getting impossible to have any form of discussion, they just post absolute dross to clogg up every post. It’s much better not having to read it which I agree is a shame as one day one of them might post something informative, that’d be IKN as DR is clueless
@KRSS
Konstantin Firstov, former Managing Director of Rosgeo has been appointed as chief executive of the 100% subsidiary Yuksporskaya Mining Company, and as chief executive of the 80% subsidiary Terskaya Mining Company.
Terskaya holds the Monchetundra and Monchetundra flanks licences..
Firstov is an experienced mining engineer who previously worked as the head of open pit mining at Achinsk, the largest operation of Rusal, a leading company in the global aluminium industry.
@B1ll; it’s even funnier when you have them on filter as you don’t have to read their crap, just post something that you know they will bite on and sit back and laugh. I think everyone’s sussed them out now and not many take them serious anymore.
1. 12th May 2021; received a proposal from a credible party & exited the FSP 803 days ago.
2. Asset sale; (28 Oct 2021) buyers DD complete 634 days ago.
3. NKT JORC; (16 Dec 2021) Work on the open pit part is in progress and the NPV of that part will be announced separately 585 days ago.
4. NYUD JORC; (8 Feb 2022 draft CPR with BOD for review) 531 days ago.
5. Nyud; Exploration license received by Rosgeo in mid Dec 2022, EUA will update shareholders on receipt of this license in due course. Approx 220 days ago
6. 2 x court cases pending Mispare/Queeld Ventures Limited & Logik.