Foggie28 Nov 2025 12:43
Just so you know you are completely and utterly wrong.
So the company I mentioned (in copper and gold) which is listing February 2026 on current plans: a little update for you. I will update you in February. You might think this parallels RRR in some ways, you know, Copper and gold.
So each time they redo the business model and the presentation the NPV10 goes up, purely off the back of the copper and gold prices. The last NPV10 was done a few weeks back at lower copper and gold prices; the NPV10 came out at $200mil. Given subsequent moves, it is likely higher and given projected prices for 2026, no doubt will be even higher in early 2026.
They have just come back from a trip to the relevant country. They have had discussions with a very large offtaker to fund $40m/$50m of CAPEX and talks with the Government body that controls tailings. They are now looking at doing JVs with NDAs being signed. The first tailings they are looking at has 70mil tons at 0.3% copper and several other smaller ones are being looked at which are further away.
Currently, I have about 4%. 18 months ago it was on its uppers, no one wanted to fund anything and it was about to go down the pan. It owed money all over the place. So I did a deal, we put in the money needed to keep it going and I bought £1.25m of debt from one of the other lenders for £1.00. We had to take a haircut on the debt but given what we paid we were on the right side of the deal.
As with all these things, it may or may not work out. As it stands, it looks pretty good. So when you are doing your prayers, say a little prayer for my project.
zzzz
DYOR