George Frangeskides, Exec-Chair at Alba Mineral Resources, discusses grades at the Clogau Gold Mine. Watch the full video here.
So the plan is to move from gas fired as per the “FS”. to renewable energy. It’s a Nobel and applaudable goal aligned with the rest of the forward facing minerals producers. It’s going to be interesting to,see how that’s going to be achievable.
The biggest power draw is the electro winning plant. That needs constant 24x7 power. That’s something that is difficult with 100% renewable
Bearing in mind
Ksk has pretty low solar intensity at the best of times largely due to cloud cover (see global solar atlas)
Being almost on the equator wind is all but non existent
Hydro was examined in FS and some micro hydro potential noted.
Even if solar is used the land area will be vast - that translates to forest footprint and potential, increase in ippkh/permitting
Solar gets a copper project 22% of the way to power requirements. Batteries of at least twice solar capacity are required and that gets project about 60 to,70% of the way. Above that the capital. Intensity becomes exponential for incremental power percentages.
Fascinating
Buma went from a capital constrained outfit to one with substantial financial backing from people with decades of large deal experience especially in mining in indonesia.
Buma seems to be on a shopping spree. The acquisition of downer mining east in Australia was recently announced
https://www.worldcoal.com/coal/14102021/buma-signs-conditional-agreement-for-downer-edis-open-cut-mining-east-business/
Well worth watching this as the larger Indonesian businesses have a long track record of entering the share register at a small level and then gradually moving to a position where the asset is taken over and delisted. Look up NUS on asx for a recent and relevant example where another contractor , Petrosea, followed the well trod path
Swapping horses to a different deposit (BKZ) different location, different mineral, different processing methods usually means hitting reset on a whole lot of permits like EIS and so on. It’s not just heading into the jungle and digging a hole. On top of that the export of raw ore and concentrates from Indonesia is largely banned. Where would the ore from BKZ be direct shipped to?
Drill rigs dont produce cash - construction followed by production does. We were sold a story that FS was complete next finance construct produce - bank cash. Now its back to mobilising drill rigs and poking down holes fo roup side while throwing out basic matters of the FS.
Sure
It’s been discussed on this board before. The Consulting group that project managed the feasibility study commenced court action for alleged unpaid fees quite some time ago. It’s been winding its way through the court system in Indonesia. The Law firm that this Eva ( the new director ) founded and runs represents Asiamet/KSK.
I think its a pretty good guess. The rules on sell down seem murky when it relates to listed entities. Have a look at eh old Archipeligo assets in Indonesia now Archi Mining. It is heading to the IDX for a 20% free float. 2 x contracts of work of similar generation to KSK. (https://investasi.kontan.co.id/news/menakar-prospek-perusahaan-tambang-emas-pt-archi-indonesia-yang-bersiap-ipo). Google translate helps :-).
Thats what the whole IDX listing of a company then injecting assets sees the to be all about. From what I can figure that largely removes the issues around nationality of shareholders. ITs not exactly clear and perhaps someone with a better legal brain can sort through the regulations better but it seems to make sense.
Integrity is indeed a fine thing - this most recent RNS with the appointment of a director is a curios thing in the context of Integrity.
It’s a tad difficult to confirm all these thing sin Indonesia but from what I have been able to. Dig out along the way there appears to be some murky business going on. I may be barking up many wrong tress as I am putting together fragments collected while looking at th various deals structures and announcement over time. A common thread of the new director seems to wind through many of the last year or 2 twists and turns
It appears this same lawyer is the ”owner” of PT WIN. Remember PT WIN the AE vehicle fo the IDX listing? The same lawyer either directly or via the Law firm they own acted for AE while at same time representing KSK in court. Yes KSK is still in courts with a next hearing scheduled for 16th June.
This is all sounding very murky indeed. SOme clear disclosure of interests would FIL perhaps be in order
Got to laugh at the spin. “ One of the key value enhancement initiatives identified in the 2019 BKM Feasibility study”. Should be translated as. “One of the key **** ups in skipping pfs and going straight to FS in the 2019 BKM Feasibility study”
Trying to make a virtue out of many hundreds of thousands of dollars spent on detailed engineering of a heap leach now hosed against wall. Back to sqaure once on processing that will need a wet TSF in an area of 5m of rain . Its a major change to all the FS parameters like cut of grade , pits , phases, schedules, dump balance, water management . That of course means back to beginning on environmental approvals ang government development approvals. How much money has been wasted.
Given that the $4M raised was half spent on unspecified Employee benefits and this USD12M has about $6M allocated to unspecified costs one may be forgiven in thinking that have gotten away with $2M in pockets time may be being spent on thinking of what to buy with $6M.