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Currently Zinc prices 10% up from project report.
Lead price up just a little but lets say flat.
So total revenue for the project estimate at todays prices;
$578 million Zinc.
$370 million Lead.
$114 million Silver.
$1,062 Billion total project revenue.
For a current market cap of £6 million.
Their post tax IRR at time of report was 31.3%, obviously going to be slightly higher at today's prices.
I like the fact that the local government seem to be involved and want the project to go ahead, plus EU funding money and local media interest.
Aren't we also waiting on drilling results as well for resource upgrade?
And again, all for £6 million market cap?
Hi BricksSA,
Where do you get the $400 million for the silver?
On the company report for the project on their website it states;
Total revenue is $962m over the life of mine, with zinc the major revenue contributor at $526m, followed by lead at $370m and silver at $66m. 3-year trailing average metal prices were used including $2668/t for zinc, $2099/t for lead and $16.5/oz for silver.
So on the silver increase in price from $16.5/oz to $28.7/oz (today's price) = 73.9% increase.
So silver revenue would work out at $114 million roughly at todays price.
Or have I missed something on this?
The details about the jobs that this project will generate in the Region and other specifications such as the initial investment are not yet public and will be announced next Wednesday during a press conference in Camponaraya.
‘Europa Metals Iberia’ will invest in El Bierzo to investigate possible Zinc, Lead and Silver exploitations
The Europa Metals Iberia company will report next Wednesday on the "Toral Project", a bet in El Bierzo to extract Zinc, Lead and Silver in the Comarca, as detailed by the company in the call to the Media. The current research permit in which the project is framed runs until 2023.
"The Toral Project is committed to the circular economy and the consolidation of the social and economic fabric of the project's area of influence with a type of indoor mining based on sustainability and cutting-edge techniques in the international underground mining sector."
The details about the jobs that this project will generate in the Region and other specifications such as the initial investment are not yet public and will be announced next Wednesday during a press conference in Camponaraya.
Chilean Port Strike link.
https://twitter.com/UPCH4/status/1386157209168584706/photo/1
Also, Chile mining unions threaten action over government bid to block pensions withdrawal
https://www.reuters.com/world/americas/chile-mining-unions-threaten-action-over-government-bid-block-pensions-2021-04-22/
28% of global Copper production from Chile 2020,
More pressure for Copper prices to go up.
I've seen a couple of his interviews now, proper David Brent comments. lol.
Some nice little tit bit updates recently anyway.
Dr James seems to know his onions.
Just need some salt and PEPR.
Was a good webinar overall, answered a couple of my questions.
Delay to the drill arriving but should all kick off in January.
Tim should be going back out to Cameroon in February.
Other licenses can drop anytime.
Non core assets have had offers but decided to wait until better offers made.
Turkey operation cash flow positive, not costing them anything.
Also waiting for drill results back from Senegal in January/February time as well.
Gold price looking strong, expecting another bull run.
So I guess take your positions ready for the new year as we have quite a few catalysts lined up.
Credit where it is due, I requested photos of Tim's trip to Cameroon on the last live Q&A session and they delivered on that. Plus photos of the visit from the British High Commissioner at Bibemi with country manager Abdoul Mbodji.
Via twitter. $ORR
See, I was right. Wish I wasn’t.
This information was leaked due to the selling, this has happened all year prior to delay news and funding.
Check out the subjective wording, ‘the company anticipates commencing the programme in January’ so still not sure when they will start drilling.
Absolute charlatan shower of Sh!!te.
They won’t even let us voice our concerns and opinions at the Q&A Micky mouse presentation, all filtered vetted out.
Makes us investors complete mugs.
oldblue1973, I'm complaining about everything.
Leaked information, no progress on Senegal, Iamgold is in charge of that, its not even a main asset for them as it wasn't mentioned in their updates during the year. Again this is delayed and we don't even know if they have started drilling again, all creative with their choice of words used, subjective to interpretation, no photos or rns to say it has started.
Cameroon suppose to be new frontier, no news on licenses no news on drilling, all delayed, again this update suggests they are preparing to drill, which means we wont know until they start drilling which they will probably say due to start drilling in Q1, so Jan-Mar 2021, not definite but due to start.
Also, sale on non core assets, Turkey, heard nothing, no update, we were suppose to hear something before then end of the year, we have a team out therefor god sake, Turkey have a currency crisis of the Lira and we can't flog any Gold. an absolute shower of Sh!!te.
See, they have done Feck all in Cameroon, they wont even be able to say when the drill will actually start turning just they are 'preparing' to drill, so another pointless presentation and Q&A.
this is a leaky ship, see the sell off as people privy to news knew things are delayed, that's another thing that P!!sses me off about this stock, leaky ship and more delays. So corrupt.
And they wont even answer any decent questions.
Troajan,
The point I am trying to make is they haven’t even started drilling yet in Cameroon.
So if they start in January then results back in March, 3 months away for news.
Same goes with Iamgold in Senegal. Oriole don’t have a say or even know for that matter when they start drilling again there.
Again, could be March again.
Also, no update on non core asset sales, their prized Turkish assets, it’s all P1SS and Wind.
Troajan, the drill rig is suppose to arrive in Cameroon and they are suppose to start drilling there. They are also expecting licenses on Cameroon.
So two bits of news due.
Otherwise why would Tim supposedly fly out there over two weeks ago.
Basically more delays.
Tim’s been in Cameroon over a week now and Fluck all update.
Not even a photo from their social media or anything, where they usually keep spamming old news, treating their shareholders with contempt.
Absolute charlatans.
Yep agreed.
I saw that, questions from Bob Smeaton, took the pi55.
You could sense the delay for results to Q1 and possibly Q2 next year.
I’m still positive here but I don’t believe this will be a unicorn type rise multi bagger.
Unless they somehow manage to get some amazing drill results from either Cameroon or Senegal.
My point for Senegal is that they don’t even know when Iamgold will actually start drilling again. I asked them the question will they inform the market, no answer. As I believe they don’t know until they get results, they have zero dialogue with them.
Positive that Tim is going out to Cameroon on Monday, let’s hope they update us when drilling will actually commence there before the end of the year.
Tim flying out to Cameroon on Monday so should hear some news on that soon, if he flies out.
Asked about Senala when they will actually start drilling again or will we be informed, zero reply, so again a lottery on Senala, news black out for 2-3 months on that their so called flag ship prospect. (The woman hosting must have been told which questions to ask).
They literally just went over old data talking up the license yet brushed over that Iamgold have no urgency to do anything for the next 3- 6 x months, so end of Q1 beginning of Q2. Again news blackout we wont even know if they start drilling.
Talked about other non core assets, sounds like they are costing us money, nothing mentioned about Turkey assets etc.......
The silence was deafening.
Losing money is part of investing, we work on probabilities. What I don’t like is being lied to by the management team. When they keep changing the narrative and that narrative has zero value anyway and take us all for morons. The management team are involved in a few companies so again, probability is high that these guys fail in those companies as well. I will listen to the Micky Mouse show on Tuesday and ask questions about Cameroon progress if any, see if I get any answers.