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Iamgold surely will know the drill results by now as they have gone past the date to keep the license in good standing for their spends

I agree with Ob. The NPV is only 1 measure of value.
The figures given are at $61/t. You could say that the iron ore price will go back there again but it may not. Could go to $ 250? The studies were done when the iron ore price was around this $61 mark. The RNS showed the costs of the mine including shipping plus the expected ebitda.
The only thing to come off will be tax.
At some point the share price post settlement will need to reflect he predicted profits at $200 per tonne of indeed the iron ore price is staying there.
The fact that Alan Green has worked out some numbers isn’t relevant to me. I can work them out for myself thanks.
The seaborne iron ore price for 65% fines still is almost $200/t. So the settlement now is key to get this mine operational and to take advantage of these prices

The studies were done assuming iron ore at 61$/t.
But that was when iron ore was similar in price.
Also the previous mine plan was assuming 62% fines.
Now the mine plan is for 65% fines which are circa $200/t.
The EBITDA figures are based on 61$/t.
If iron ore is $200/t the only thing left to come off is tax
Dereciation doesn’t come into it. Neither does ramped up production as the figures given are averaged over LOM.
Kierans figures are just a repeat of what is in the public domain as there hasn’t been a study done to take into account a new iron ore price.
This is a billion dollar asset at a much lower iron ore price.
And note potential to increase resource further.

Would be amazed if senala drill results not released this week. Iamgold have to keep up the spends by end feb so surely they will know now what they have. That’s the date they would be working too. Possibly RNs tomorrow

the recent studies have shown production to be majority 65% fines. (From NOV RNS)

Highlights:

· Mineral Resource of 176.7 million tonnes ("Mt") grading 39.7% Fe in the Indicated category, reported within an optimised pit shell and using a cut-off grade of 25% Fe.

· Mineral Resource of 8.7Mt at 36.9% in the Inferred category, reported within an optimised pit shell and using a cut-off grade of 25% Fe.

· This Mineral Resource represents a 21% increase in total mineral resources compared to the equivalent MRE published by Anglo American 2012 .

· The MRE will form the basis of the mine planning studies within the scoping study, to support the operational plan to produce 4.4Mt of 65% Fe and 0.3 Mt of 62% Fe per annum.

· Significant potential exists to increase the resource base after the completion of metallurgical and optimisation studies on the surficial Colluvium and Canga and the underlying Semi Compact and Compact Itabirite material types.

below is from RNS 30th August 2019. Reported figures by RNS

As part of the JRP Amapá submitted an outline of an operational and financial plan that Amapá intends to implement to bring the project back into production, which included the following



· The sale of approximately of 1.39 million tonnes ("Mt") of stockpiles currently held at the port owned by Amapá. Planned shipment of stockpile commencing in December 2019.

· It is estimated that these stockpiles have a net realisable value of approximately US$ 60 million, which will be reinvested in the restart of the Amapá Project.

· Further capital investment of approximately US$168 million, of which it is estimated US$61 million will be spent on port rehabilitation and US$47 million to be spent on plant recommissioning.

· Rehabilitation to be completed by the end of 2021 with new production in 2022. Full production by 2024 of 5.3 million tonnes ("Mt") of iron ore per annum.

· At full production and using US$61 per tonne of 62% Fe Amapá is forecast to have:

o an average net revenue after shipping of US$266 million per annum,

o and an average EBITDA of US$136 million per annum.

also the studies for Amapa were done at $62. The EBITDA was worked out at this price.

the capex of the amapa mine though should be met by the shipments which further derisks the project

apologies for that
his figires are well off then :-)

nice posts but your annual figures are well out at this iron ore price.
annual revenue $932. Shipping circa $62 million. costs $138 million.
tax - To be determined.
ebitda circa $732 million.

annual Ebitda net to KDNC circa $146 million based on 20%

dyor

p.s.the impaired price by AA has no relevance to the annual profits.

IAMGOLD is currently in Year 3 of its earn-in to an initial 51% interest in Senala and, under the terms of the option agreement, must have spent a further US$1 million by the end of February 2021 to keep the option in good standing.

New Monday possible. Taken another chunk.
Iamgold year ends today. We may get senala results Monday. Let’s see

Nt to buy now. wow

flying up!!

you couldnt buy on II until a few hours ago. I wanted in at 8am but couldn't buy them

added some at 6. something p. double my money here quick imo

mms taking the **** here completely.

Showmed- ctea is a global solution. Note the directors have been assigned roles which cover different parts of the world. It was tested last year and is ready to go. Coincidence the RNS yesterday said they had been invited for talks with Uk government. No coincidence there for me.

Sea of blue. Cheap as chips. Mms surely will let this go into close imo