Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
Agree
KS has got ultra conservative with the grid MRE. The disappointing thing about that -is PI’s will have to use their imagination re the size of it, and that allows trolls in.
Only 99 holes used, not including those amazing grade holes slightly deeper announced last night. We have know idea how big that high % Cu area is but all within the MRE grid area.
Then we have the highly active drilling area about 1km away to the North East, and the area being drilled inbetween the grid and the NE portion. Then structural zone B South. All of which are under the A4 area. None of those drill results have been announced.
“One advantage NSR royalties have over other royalties is that usually, payments are higher in the short term because capital costs and exploration costs cannot be used as deductions”
You are wrong cash it isn’t after profit from operating costs etc
There are some costs deducted
“The net smelter return (NSR) refers to the revenues expected from the mill feed, taking into consideration mill recoveries, transport costs of the concentrate to the smelter, treatment and refining charges, and other deductions at the smelter”
I think most of the drill holes were strat holes to inform the major campaign that will now be started by CBE/MTR. CBE obviously happy with what they found as they are proceeding. Think EM and soils were being done as well. Strat holes not normally exciting other than to geologists but agree probably some info kept for CBE’s exclusivity. The boring bits been done and CBE have cash and a listing so I am sure they will be drilling in earnest using that data for the exciting stuff.
Just look at this Sat courtesy of Chris Parrish on Twitter. Shows the grid this is now having the infill drilling. But you can see drill holes extend from grid South west + drills North East which is called ‘son of A4’ (not officially). And drill results in between. I have no idea if all of these are looking for shallow deposits . The only thing will be included in the MRE is likely to be the basic grid 50m x 50m.
https://twitter.com/chrisjparrish/status/1329819079587270656?s=21
Yes it just totally depends on whether SFR include the 25m drilling results in the MRE, and the cut off grade. As you say just the A4 area is big so whatever the MRE is, it’s those assays that KS hinted he would be releasing from the rising stars YouTube video; that will give an indication just how big it is. There is obviously 2 types of Cu at a4 the underground resource which MOD started drilling hoping we have a bit more info from that, plus the shallower dome like structures.
At least it will provide info for MTR to Discuss plus Simon Thompson to write about, and investors to speculate on . Create some dialogue.
Sorry meant to say ‘son of’ is North East not North West
You have to phone them to say you have read the KID before they will allow you to buy online.
Yes SFR like Sundays but anytime between now and AGM. I would envisage KS would want to talk about it prior to that, so Sunday, Monday, Tuesday is my guess.
I think it’s important to set expectations for the announcement.
The DFS should improve on the MOD DFS but in a way those figures will be baseline as A4 etc get added to the figures for very little cost. You won’t have the same OPEX nor CAPEX for these new areas in the vicinity of T3
Regarding the MRE in my experience of SFR they are a conservative bunch so the MRE will again be the baseline from the 50 m spaced grid I reckon. We know they are doing 25m infill so I suspect that might come down the line to give a reserve.
So whatever the figure of the MRE the important bits will be the wider exploration -is the grid open are the extension holes to south west showing Cu that hasn’t be included in the grid.
Are then any result from the ‘son of A4’ in the North West.
Are then any results from those holes seen on the sat images between the ‘son of’ and A4
If there is good Copper in these wider exploration holes you can start to extrapolate beyond the initial MRE
In a way I think the wider exploration of the A4 area will be more exciting as you can kind of predict the resource based on the 50m grid from existing drill assays.
Just my tuppence
I fully envisage a follow up IC article by Simon Thompson post release of this info. We normally have a very good run when those articles are produced digitally then in print. So expecting rise on news then subsequent rise on article.
KS confirming DFS, A4 MRE and further exploration results within the next few weeks. I guess before AGM.
I am still here and bought 60k recently. I am just waiting for the MRE and DFS like everyone else. I have made my calcs and shared them. SFR AGM is 27/11. I expect MRE and DFS before that date as KS will be under fire for the SFR share price which seems to bear no relation to its cash, liquid assets and future cash inflows. I think the Institutions that control SFR share price are waiting to see DFS for T3/A4 and the gold resource post Degrussa Copper.
Remember that the royalty won’t be an investment but something that will give regular cash flow to MTR. I envisage that it will give us shareholders a dividend. Could be leveraged before the mining starts as well
It’s interesting seeing TRR for example (a Co I like but don’t hold). If one has the mindset that MTR’s only value is that of the SFR 2% NSR. That one Royalty will be worth more than all TRR’s current royalties put together, we just need proof and that’s coming.
I think one area that retail PI like chasing is gold in Paterson , Pilbara etc I would have been nice to have had some project level involvement . As you can see at THR it’s the gold in WA that brings momentum.
Agree with your comments re no new retail PI’s interested which is why I think MTR are dual listing on ASX. Many retail PI appreciate what MTR do much more in Oz.
Saying that we have got bigger institutions get involved. Hydrogen’s fund mate being one picking up 7%.
I agree that Investment Co’s aren’t everyone’s cup of tea. I personally think MTR is more than that with royalties and direct project involvement, but the point is well made. They don’t just hold shares that go up and down and impacts NAV as most investments Co’s do.
Retail PI’s love shares that will make them 100% in 2 days and chase those companies, many of them have either no decent assets, or have assets that will need many millions ploughed in that they haven’t got +/- good PR, which allows momentum to build.
So in MTR’s case you have some LTH and Instis that don’t really trade and complete lack of retail PI’s to give any volume.
I am hoping the ASX listing allows the Ozzies to buy and then arbitrage give the Aim listing a boost.
It is quite clear that Michael, especially now the London office has closed, doesn’t play the London broker game and the probable manipulation that occurs with it. Instead MTR has linked itself with Ashanti, Tamesis etc. Who are involved with some pretty meaty deals.
Initially I thought of MTR when Michael took over as an extension of the old MTR. It isn’t, so I have adjusted my timelines. MTR will be a divi paying company but that probably won’t be until the NSR pays out .
Indeed and I don’t think TG’s shares have gone anywhere. Still showing as near 5% holder as of 16/10/20
The markets are obviously jumpy.
Not long ago we were 28p
It was anticipated that the MRE was end of Sept so some traders have probably sold.
We have the most significant event since MOD sale coming up the initial MRE. Sat images showing more drilling south west of grid.
Meanwhile although some currently down we have the next background big win SAU, CBE (especially after KML deal). These have been a bit slower producing goods but Covid really has had an impact in flying in to S Korea and western Oz.
Meanwhile cost free we will have exploration on the new areas in Bots to increase our NSR (once I fill complete at A4 xlooks like lots of infill done so will give increased confidence in resource)
SFR also position themselves nicely from our shareholding with the new tenement next to Degrussa and the deal re Cobar.
Although not a huge investment £500k, the GGP results have perked up my ears to the tenements next door at ARV Artemis (which MTR own). Although they aren’t starting off in micro cap levels like GGP (because they own some decent stuff in Pilbara) I still think some decent drill results will multibag them
Yes the Altered DFS for t3 which will include some of A4 (I am sure) being released mid Nov. The MRE will be either with that or before - so any time in next 3 weeks. The quarterly is next Wednesday so I might be included then?
The SFR RNS, suggested last quarter for MRE a few days ago, so the news is out there. So is this a negative? Yes if you a short term trader, they have probably bought and sold. The question I ask myself is why?- a) delays in labs b) kept finding Cu and wanted to include as much as possible c) want to carry on drilling and just combine with DFS as they will now use A4 higher grade shallower Cu to improves economics and therefore get better deal on debt side. Just a few examples.
Given they continue to drill at pace on the new North West section and the area inbetween grid and North west portion. I am personally concentrating on what Michael has said about the initial contained Cu 250-300kt. I was using 320kt but if the 250-300kt is for just the grid; then just how big will the contained Cu be if they are now finding it 1.3km away North west and inbetween.
That is before any of the juicy underground targets as per MOD resources announcement in 2018
“In addition to substantial widths of disseminated and NPF contact mineralisation, forming a blanket below the A4 Dome, there are wide zones of vein-hosted mineralization at shallower depths in the dome (eg 52m @ 1.5% Cu & 14g/t Ag from 232.2m in MO-A4-003D announced 6 August 2018 and 42.9m @ 1% Cu & 19g/t Ag from 257.5m in MO-A4-008D announced 4 October 2018 and 15m @ 1.1% Cu & 16g/t Ag from 39m and 21m @ 1.1% Cu & 8g/t Ag from 59m in MO-A4-019D”