Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
We have a comedian in the house!
The Jupiter mines money has probably nearly gone. When elephant oil lists no doubt those shares will be sold and that will disappear as well.
The Kenya assets look pretty mediocre, the DRC is a legal quagmire with lawyers no doubt making a killing and the only hope here is the Australian drilling hits something and this spikes.
To make money you have to produce something and RRR probably never will.
Personally I’m bored stiff of this one. It still all hinges on drilling results and a big resource upgrade.
Is it very cheap or very expensive? Anyones guess, but these lab results are taking forever.
Except the podcast in the link barely mentioned Kefi, just said they didn’t need to do an RNS unless there was a material change and he wasn’t concerned and expected finance to be done within a couple of months.
I could be completely wrong but thinking rationally Harry put that controversial bonus scheme through at the start of June. They had until the end of December to get the finance complete, draw down the first 20 million and get enough news flow to get the share price over 3p. Harry must have been confident at that stage 4-5 months to get the finance done.
He had over 3 months to work on that before the kidnapping in September threw that plan under the bus and the intensification of fighting “snookered” the company. The syndicate could start accessing the site again in November and the state of emergency has now lifted so logically if nothing has changed they just need 2 months to pick up and complete what they had started.
I’m as frustrated as everyone else about being materially under here even without my top ups but I agreed with Harry last year to get temporary loans and complete the financing before raising money so we didn’t get diluted under the 3p level. Kidnapping so far away from the fighting could t have been forseen.
Let’s see what the week brings. As I said last week no news at this moment is good news because that means all parties are just getting in with it.
We have gone from being in a holding pattern to moving again so that has to be good news.
I’m glad the ministry and Kefi are having meetings as it implies the ministry believes it is safe enough to proceed in that region.
As for what is deemed safe? That your contractors and employees won’t be kidnapped or extorted seems reasonable.
https://www.aljazeera.com/amp/program/the-stream/2022/2/3/can-abiy-ahmeds-national-dialogue-end-ethiopias-war
Am going to watch this as Ethiopia doesn’t seem to be covered in any detail by the news channels I watch now the fighting has abated.
The report looks promising. A month ago they wouldn’t have contemplated having a “terrorist organisation” at the table, but they will have to to move forwards politically.
I expect the presentation next Monday will be mostly about the improved security in Ethiopia and especially around the tulu kapi area. I’m hoping an rns that morning will say the syndicates independent security analysts deem tulu kapi stable enough to move forwards, but that’s pure speculation on my part.
Very good volumes again yesterday. Surely this overhang must be close to clearing?
Actually it should be tomorrow the 1st feb and only if something bad happens. No RNS vindicates the managements view the MOM understands this won’t complete to his prior deadline of 31st jan.
No news equals good news this week.
I think you’re right Agricore, a management change is needed. The company isn’t being valued on its NPV it’s been valued on over promising and under delivering ounces.
This has been on my watch list of possible buys for a long time and it looks amazing cheap. I am considering buying some at this level but sentiment is so against this company my head is telling me wait for the share price to stabilise. It’s being massacred day after day at the moment.
I topped up just over 3 million shares today. But it’s a risk.
On one hand the news this week that the Ethiopian government have voted to end the state of emergency early and have passed that to parliament is huge. Stability means finance can close imminently. Harry has no excuses to delay.
On the other side rumbles about adjacent licences being awarded from Kefi to other parties, and this impending arbitrary deadline of end of January for finance to close or potential consequences. There’s always a niggle the minter of mines might do something extreme even though there has been a civil war.
On balance I think the risk is worth it, I think potential downside of 50% if Ethiopia goes wrong, but easily 3 times gain from this level if it comes good. But each to their own, everyone has a different risk threshold based on their circumstances.
I agree. I will buy a small stake on the open, at this price it could be a good recovery share.
Just under 20% of my Australian self managed superannuation pension fund is in sandfire resources, one of the leading copper producers in Australia and the share price is as bullish as ever. Copper is better than gold in my view as it’s more useful and the supply/demand would seem to be in producer’s favour.
Most of the reason I’m in Kefi is the Saudi assets. I believe in the basket of metals they have found there more than the Ethiopian gold assets, (because of the political instability), and as usual I think the assets are crazily undervalued compared to their peers.
Castillo copper listed on both the asx and Lse still haven’t found anything commercial yet somehow their market cap is the same as Kefi minerals. Saudi is going to go ahead in 2024 no doubt of that, the deposits there are only going to grow larger and more valuable yet the value put on them by Mr Market is negligible. So it’s a strong bloody minded hold by me until the market catches up and realises it. I see HSR reckons this should treble in share price on news in Ethiopia, let’s hope they’re right.
You can look at the daily trading volumes pre placing for every trading day several weeks before. The volumes don’t even cover a fraction of the shares issued in the firm placing.
You can’t flip that many shares, so I stand by my comment. That’s why I want to see large volumes post trading to churn the overhang over and abate the price decrease.
Strange to think that anyone that took shares in the placing for monies owed are underwater now as well. They can join the majority of the shareholders including myself by a fair margin.
I’m holding though whether it’s boom or bust, it’s still a compelling investment. According to Harry the shares should be in the teens in a few years so my 4.2 million shares must really be worth half a Bernie not 30 odd grand. Who am I to argue?
Catch you all next week.