Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
Mark stated La India stripping ratio was 10:1 and Mestiza to be higher. If we assume 50,000 oz sent for toll milling that's 350,000T of ore but 3,500,000T of overburden that needs shifting first.
Does anyone have any information on the stripping ratio for the feeder pits. I do seem to remember Mark saying at some time that the ore at the Mestiza feeder pit was only 3m below surface.
ISAPENSION, fine I too see all that pent up demand but that expenditure is supported by £300Billion a year of government borrowing (20% of GDP). Surely this is not sustainable long term. We are currently in a twilight zone where people and companies don't realise they are bankrupt. If the furlough schemes and other government support ends we will see a collapse in demand and deflation.
ISAPENSION; I just don't see how you get price inflation when once the furlough schemes end millions of people will have no jobs to go back to, businesses will be bankrupt by the thousands and landlords will find their tenants unable to pay their rents. In my area for example, I see a shortage of paving slabs (due to cement shortages and lack of Indian supply) but I don't see people scrambling for the remaining product nor any price increases. Fewer are simply buying the products.
ISAPENSION, the reason I ask is that inflation is created not only by price increases but also the velocity of money (how quickly people spend and move it on). You need both for substantial inflation. So your customers may be paying more but if they are buying less or less frequently it may indicate inflation is not a real concern.
Looking at the production costs for the 500kt extracted from the Mestiza mini pit, I get the following numbers:
£116million of gold extracted
£35million costs for extraction and processing
Thus £81million profit (before tax) or 58p per share.
Not bad for one small part of Condor's massive estate.
Somewhat surprised that CNR released an RNS when only two drill holes results were in. Shows how excited they are about them:
Firstly the drill results prove their model. This was was always a risk in the 'feeder pit' concept, Secondly they found a new vein which will increase the gold recovered substantially.
A great RNS.
Back in October MC stated in a presentation that the purchase of a secondhand mill had agreed and that we were in the process of contract negotiation. What happened to that? I get the feeling now that MC just does not want to proceed with building the mine and therefore wont commit to any substantial plan.
Courtesy of Harry McGibbs
“Bitcoin holders barred from depositing profits in UK banks – HSBC will not process cryptocurrency payments… anyone who wants to take profits might struggle to cash in their gains.”
https://www.thetimes.co.uk/article/bitcoin-holders-barred-from-depositing-profits-in-uk-banks-pgswbfrdz