Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
You are a twister. Because they haven't announced something doesn't make it a FACT that it hasn't occurred as much as you might like it to. The Copper? was aimed at the rather bizarre idea to post a share valuation for only part of the company's production. Break the overall value down, fine, but a finite post that just values some of it without including all of the production is misleading. As for providing value, I suggest that someone who only pops up as an agent provocateur on occasion to spin beliefs and mistruths is hardly providing a service. Please explain what value is to be gained out of the tens of posts you have made in the last few days? As for me, and as an example, we wouldn't know what Glencore patented process is used at Sable if I hadn't found it ... but I expect such irrelevant operational stuff is of no interest to you. Similarly information from other services I pay to subscribe to finds its way to the boards for the benefit of those who don't have the access. And I am a consistent presence here, not an occasional carpet bomber .....
>> Edzi - the RNS states that the completed unit was being painted. Now maybe you would like to explain where the machine ends and the electrical infrastructure necessary at site to power it begins?? There is no mention of where these electrical components are being delivered from; they might very well be being sourced in Zambia and have gone onto backorder at the last minute, it happens, especially in Africa. To quote PSD117 on 18th April:
"Speaking from the position of an electrical controls guy; There are lots of items that used to be on the shelf but now have weeks or sometimes months back order. Soft Starts, Inverters, PLCs, some modules, HMIs. I've just finished one job where the data acquisition module which used to be next day was quoting 16 weeks.
The usual tends to be, we submit designs to the client for approval with lead times of parts from that day. They then have a load of meetings, drag their feet until the order is placed, and we then discover that parts are now on back order because the client took so long to issue a purchase order. Our choices at this point are to either redesign with available components, (and go through the waiting for customer approval process, by which time the available parts may not be available anymore), or advise the client that because they took so long to approve, they'll have to wait for the parts to be available.
6 weeks, I'm not concerned. just been quoted 14 weeks for an NI module that used to be back order."
An increasing requirement for working capital to fuel growth is synonymous with an expanding company; it signifies nothing. But as Northern rightly states, in terms of current operations the company is cashflow positive..
Quoting WHI: "In Zambia at the upgraded Roan concentrator Jubilee is still frustratingly waiting for the electrical
installation to be complete – now delaying start-up of the new full new front-end until May. Once commissioned Roan should be in a position to supply 13kt/yr of copper in concentrates. That said, in the quarter JUBILEE INKED THE CONTRACT WITH IRH (Abu Dhabi based) to develop the ‘waste rock’ project. This ground-breaking project should see the JV
(30% Jubilee) process 2.4Mt/yr to produce ~20kt of copper within 2 years from four modules processing a part of the 260Mt of copper-bearing material at surface identified. A resource drilling program will define fully the parameters of the plants and their optimal location."
Edzi, so you agree with the statment and how it is worded..... "copper still crap.... maybe it will turn around.... " MAYBE it will turn around.... If you hope that a business plan goes in a straight line with no hiccoughs given the region in which we operate then I am afraid you are destined always to be disappointed.
>>Gray1 , I am significantly invested here and will always challenge posters who appear to misrepresent reality, for whatever reason. By your "maybe" you think there is a very real possibility that the copper operation will fail, despite the due diligence of IRH and the thousands of tonnes that have already been produced, then, and that producing 4,000t of copper this year is really "crap" given that in a few weeks weeks there will be over a thousand tonnes /mth?
Very odd that someone would hold a portfolio of shares and only ever comment on one of them .... "copper still crap.... maybe it will turn around.... " Hahaha ..... I always look for motive.... :)
And we know traditional acid leaching of tailings IS viable because CAML do it very successfully at low cost. What people THINK and what is fact are two very different things ......
WHI cited and provided to me the reference for Chrome having been at $350/t: Fri, 19 Apr 2024 02:20:00 GMT www.ferroalloynet.com: South Africanchrome ore 40-42% concentrate price is 300-308(bulk). South African chrome ore 42-44% concentrate price is 345-350(bulk). South African chrome ore lumpy 38% tran... So $50/t is an underestimation.
BRIEF – CITI Expects Copper Price to Hit $10,500/T Over Next 3 Months
06:08
April 19 (Reuters) – CITI RESEARCH:
Expects Copper's Price Rally Continuing Over Coming 3 Months, With Prices Likely To Get Up To $10,500/t
Expects Copper Prices To Average $10k/t In 2q And 3q 2024
Currently they are getting $350/t for Chrome.... "At these prices, if they hold, Jubilee could be making ~$100/t profit margin on each tonne of it’s own ROM – which at 2.1Mt/yr production with ~40% of production not fixed margin could be in the region of ~$80m/yr."
Would the Chairman, the CFO and the CEO have invested so much time, money and resource on the waste rock project with IRH if there was EVER any chance that it WOULDN'T go ahead? Ask your self that... and no, why wait for Roan when they can see the tremendous success and extraordinary expansion of the Chrome operations using the same technique??