Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
Bwana, I would agree that the ESIA and ML should be granted by the end of April. I am hoping that finance is virtually all tied up (as the first RNS with regards to serious funding discussions was June 2020) and in place by the end of July. This would enable construction to start this year and hopefully production by Q4 2022 (I'm probably being optimistic). With regards to the share price I'm more conservative to start with 7-10p after the ML, 14-20p after finance. I too would imagine 600m shares will be the top end after the equity raise. At the start of production I can see the share price being around 50% of NPV which is 35p. Personally I intend to hold all until production and then I will re-evaluate my position.
ST, we have had regular updates in my view, 13/10, 24/11, 11/01 and 17/02 with three out of four of these mentioning the ESIA. All of these gave us up to date news as to where the company is with the various workstreams. I have built my position here since 2016 and whilst progress over the last year has been frustrating I am firmly of the belief that this mine will be permitted, financed and built.
Safetrader, I believe we all share your frustration at the speed of progress however it is mendacious to suggest we have not been updated since 13th October. Below is part of the RNS from 24th November, it is clear that they are waiting for the ESIA and I believe that once this has been issued the rest will fall into place quickly.
we are pleased to announce that following a positive site visit and follow up consultation that the Environmental and Social Impact Assessment (ESIA) is also progressing and we hope to be in a positive to update further in this regard in the near future. The ESIA is one of the final necessary components in the Mining Licence process and receipt of a Mining Licence will be one of the final and most important de-risking milestones for the Project. Our financing discussions are also progressing well and we continue to see strong levels of interest as we ensure that we put the best options forward for shareholders at this exciting stage of development for Armadale."
Yes you are correct it is on just 25% of the asset. The DFS stated that it was open in multiple directions and Matt Bull stated in an investor call that it was "open in all directions". I wouldn't imagine that they would review the remaining 75% until after stage 2 has been completed. However this could potentially had significant value at some point.
Picked this up from the HZM board.
https://twitter.com/TheMoneySponge/status/1345775368201003010
I too have been here for a few years and I agree with ems on the whole. I do intend to hold until at least production and I have always targeted for a minimum of 30p. The last update couldn't spell it out any more clearly, in my opinion, that this project will happen it's just a question of a little more patience.
The numbers suggest it might be possible even after taking stage 2 into account. I have copied a link to a moneysponge YouTube video where he raises the possibility. The whole video is worth a watch but the details you want start about 8.30 minutes in.
https://youtu.be/Wpydic635jA
It is frustrating waiting for news however we had an update via the half year report RNS on 29th September. At this stage it is just a question of patience as the company is in NDA finance discussions as well as trying to progress binding offtake agreements. I would much rather wait and get the right deals rather than rush it through to appease impatient shareholders. The mining licence news should drop imminientley as they appear to have reached the final stages of it. With regards to the testing being completed by CSIRO I would imagine that they will update us as soon as any results are passed onto them. Double patience needed for a number of us who are invested in HZM too!
Nice find Freshest.
John Magufuli is a strong favourite to win a second term in October which will ensure the continuation of the current pro mining policies.
https://www.aljazeera.com/news/2020/08/tanzania-approves-15-candidates-presidential-election-200827054742155.html