Just reviewing Last October interview with Dimitry on Proactive, 2018 was first year at WK of commercial production with contractors, prior to that only pilot production. He refers to Anglo American selling out in 2014 (which he says they subsequently regret) for West Kytlim, not at MT which Book 5 talks about on the other board (i say talks, i think hes knows very well the untruth he speaks). Sep 2019 was the first period of EUA mining completely themselves at West K for PD, PT, Rh, Ir and Au.
A previous interview on proactive in August, with Christian Sch, questions why only 1 wash plant, Christian refers to permitting issues which Dimitry then says have been resolved in later October interview.
So WK should be going in to production soon, potentially with increased plant. The maximum output achieved last year was 7kg per day of metals or circa 200oz.
Ethio whatever the situation you can be sure that the pandemic has had an effect in slowing down it's resolution. So if you imagine a deal taking 8 weeks could now easily double. Those are just random numbers by the way. It's definitely unsettling in these uncertain times though. I would imagine a buyer pausing to see which way the wind was going to blow...currently in China the news appears to be getting back to business as usual....but you would be crazy not to reevaluate...More time required.
Again they won't be able to BS a due diligence team from another company so why would you try. They would all be tarred as fools. They have said it's open pit......and stated their costs....it's easy to verify for experts so why lie?
Amers there are a few who have suggested a scam or wrong doing and we have heard nothing from the board. You can read it both ways...that to them it's irrelevant because they know the truth and it will come out soon enough or there is some truth in the rumours ....but I look at the people involved and ask myself do they need to take such a reputational risk when I would ask do they need the money??
Hi Elenor Eau has some serious people involved with important reputations. If they try and sell MT then any buyers have the ability to spot BS a mile off so that's a pointless exercise. So what's the alternative..pump the share price so all the directors can dump their holdings.....They hold a huge stake in the company so they would tank the price....As for Sinosteel they would have done their own due diligence before offering their package. So How are PIs being scammed??
OMJ has views on lots of companies and some are completely off beam and his disapproval expressed in purile and offensive terms. So if hes such a serious investor why does he even engage with the likes of us PIs?? If id made millions as an investor and was so sure of myself I wouldn't be tweeting about the place, I'd be diving off the back of my boat some where nice.
DD as someone who is self employed and seen the order book fall off a cliff i am more than a little nervous about current events, as markets have tumbled i've been grateful of the suspension but i could do with something to ease my nerves for sure. It seems that there is wiggle room for the board to stay silent and still be working in our best and the company's best interests. Im hoping the news from China holds true and some positivity returns in general across the world. If C19 flairs back up there again then the consequences could be truly awful.
Bill, i think what Wolster means is he would crumble ( no offence Wolster). There is a reason they are all directors of miming companies and Goldman Sachs bankers standing to make millions and millions, and its not because they are spineless or stupid and throw it all away at the final hurdle.
Wolster you're sure they would crumble!!! LOL!!!! If you think so little of them why are you invested? Have another look at them and their Bios, yes they are all the crumbling kind!! As for mining, who says it has to be this year and the longer the structural defecit the more attractive we look, and we get to apply for the ground around the existing project i.e. the other 25 million ozs, as for the salaries its relatively small beer in the big picture.
NTTG yes there are a lot of broker valuations that never come to pass, however the valuation is not beyond reality and as we know CITIC would only be engaged on a success fee basis, this was announced after the broker note came out which was as you point out paid for by the company. So the company have stated quite clearly their starting point, do you think the board would cave in to a price significantly lower than their starting point? I do't think they would because they don't have to. They have Sinosteels deal and the personnel to mine MT themselves. From a buyers perspective the mine makes money even at a low Pd and Pt prices and is uncomplicated to mine. Its a good bet either way.
The human factor DD.... ok so its not the same as a ford mondeo in that theere are many potential buyers but if you are in the mining business and its your intention to stay in the mining business in the PGM sector for say 20years plus then you need something to mine!! As other mines are dwindling and expensive in relation and the profitability of ours is much higher then you start to see that comapnies need this mine, its not really a luxury good, a nice bauble, more an essential if you are planning on staying in business. What's the saying..... go find another.
NTTG2 do you not think the broker note has any validity?? Why would the company pay for a broker note that was pure fantasy?
It would serve no purpose, the note is on the conservative side, are our board and the analysts who produced the note idiots who happen to be in their jobs by blind luck? The fact that the company paid for it does not mean it has no validity. The boards actions clearly signal that they are taking this very seriously and will not be taken for fools. I would have thought this would engender some faith in them getting a good price. The note refers only to the 15million ozs including the flanks valuation. At a price of $1600oz less $500 extraction costs that's $16.5 Billion in profit. At $2000 oz its $24 bIllion. Nothing priced in for the potential 25million ozs upside that will be applied for! At these numbers $3-$4 billion for MT is cheap. Its almost a 10 bagger on conservative estimates.