Member Info for ElProfessor

Hi Mikie,

Thanks for the points. I was excited on one listen but will do as you suggest and listen again and see what extra exciting news I pick up.
Do we know why only 30% is exposed to market prices? Is it hedging - and if so for how long; or is related to something else and if so what?
Thanks,
Prof

Thanks for clarifying. Could I suggest that in the future announcements that is made clear as it does cause a little nervousness when a PDMR sells 90,000 shares over a few days.
Thanks as always of the great job you do.
Best wishes,
Prof

Hi Seis,

I know what you mean ref RNS. It was certainly not something you could only read once. It made a lot more sense on rereading after listening to Leon's presentation.

Best wishes,
Prof

Hi Seis,

The following is taken from this week's RNS and is Leon's words. To me it suggests that we should see some production of copper at all times during the upgrade.

'Based on the initial review of our technical teams, Roan can be expanded in phases to more than double its current capacity, while avoiding a complete shutdown of operations to accommodate the full upgrade. The initial phase will expand and upgrade the material handling and classification circuits, to accommodate the simultaneous processing of copper tailings and copper containing ROM material, which immediately facilitates the implementation of the first Northern linked refining project at Luanshya, and the supply of further third-party ROM material.'

Did you read it differently?

Best wishes,
Prof

VBig,
I agree that it would be nice to see him hold / buy more however he will no doubt have millions of options at different strike prices and that is what will tie his interests with ours.
Best wishes,
Prof

If he was just going through the motions to reassure the market then I can't help but think that he would have waited rather than do it on top of yesterday's (and Leon and Colin's). Between the 3 of them that is nearly 900,000 shares since the RNS. Sure it would be more but I do take it as a genuine view that they feel the SP is undervalued after the drop.

Thanks to all who posted responses. Some stuff that I had not thought of so very useful thank you. Not sure what to think at all now!
Best wishes,
Prof

Hi Strummer,
Thanks for your thoughts.
I think the deal with Elemental was that CEY would provide a minimum of 1200 oz of gold a year in each of the first three years of the agreement. The deal was RNSed in Apr 22 so presumably the first year end is around Apr 23, arguably therefore there is no default until CEY are not able to deliver that in year, hence why the RNS now with 2 or 3 months to go.
I am not saying this is good comms to the shareholders at all and I agree that the apparent pumping of the share over the summer period seems strange however I wonder whether they are legally OK with regards to the Elemental deal in not saying anything until now.
Best wishes,
Prof

If NewGen are the the primary creditor they will take precedence over all else. If Elemental under their deal are classified as a creditor too then they would presumably be behind NewGen for payment. If that is the case why would NewGen let money go out the door to Elemental? Presumably it is in NewGen's interest to either have the monies going to them to minimise what is owed to them or have it go to the suppliers who are key for the day to day running of the mine to ensure continued revenue. I would be grateful for any thoughts as to whether that logic is correct of flawed. Best wishes, Prof

Moon,

Will be interesting to hear what you make of it with eyes on the ground.

Have a good visit,
Prof

https://www.dailyfx.com/copper-prices

Will this become the new support?

Hi Homey,

Thanks for sharing this data, it is very helpful to see.

If we exclude the Jun 21 spike then it suggests that the second half of the year is one of the strongest for both PGM basket price and earnings.

Am I reading this right or am I missing something?

Many thanks,
Prof

Over the last trading 10 days, since 06 Dec, Rhodium has fallen $1,000 from $13,300 to $12,300. I suspect this could be a significant contributor to the weakness of the JLP share price over the similar period.
Best wishes,
Prof

If people behave the same way as me they scroll through all the content since they last came on the page and stop on the quality content like your post. So I don't think it gets overlooked.

Thanks again,
Prof

Fukurokuju,
Thanks very much for putting that effort in. I confess that as a non-accountant I am struggling a bit so would be grateful for the input of any accountants that we do have.
Best wishes,
Prof

Fukurokuju,
Thanks for the workings. A couple of points:
-C3 may have been 30.818million in 2021 and while a large part of that will be fixed costs there will also be a variable cost to production. Any estimate on that?
-You are using $1M a month for the debt of $20M. Presumably that includes capital repayment. At 10% were capital repayments to be further deferred then interest on debt would be c$2M which should be well manageable at 8,000 tons per annum provided there is a decent gap between AISC and copper price.
Thoughts,
Prof

Great conversation thread here. Thank you to all those contributing to it.

I just wanted to draw your attention to a few lines on the Innovations News Network Report on the RMM Website:
'Rambler is on track with its 2022 production target of 7,000 tonnes of payable copper. This represents a 100% uplift on 2021 and, given the performance to June 2022, the second half of 2022 will be a 100% uplift on the first.'
Not withstanding the reduced copper price if H2 is double the H1 production then AISC should fall significantly and cash flow improve.

Looking at the price action in the first 15mns I think the market makers are struggling as much as the rest of us to know how to price this and so are probing to see. They marked this down 10% at opening but are gradually pulling it back up. Let us hope that trend continues.

For those who are desperately looking for positive elements this morning - commodities are looking strong.