Member Info for Hemmings8

If land access gets confirmed then this should help offtake agreement. Jantand - as our man in SA, are you hearing anything regarding access or Vele? Thanks in advance

I too have heard some chat it’s been signed off but just hear say

Cheers Boz. Good post. If get land access then final piece of puzzle. Sounds like it’s been signed off

At least DB seems to be getting out there and putting out the message

$80m EBITDA by 2020. Provided we sort access, off take and financing we’re looking great here

Increase price target to 88p from 86p. BOOM!

Or the fact we’re still owed 10 instalments paid quarterly starting August 2018 Brain still good, thanks

I mean best to kiss a few frogs then to make a mistake then buy another crap asset like Mooiplaats

Best to get it right then to buy another Mooiplaats.

Been told North adit of Uitkomst will get developed regardless of CGA being acquired. Good news, 150kt/annum ROM

Company needs to get land access, take off agreement and financing sorted. Land access is imminent; Take off agreement finalised around end-April Financing after those completed but preliminary discussions have taken place

Well, not convinced about that. All write down tells me is that they expect to sell Vele for $30m. Never in my back of the fag packet analysis did Vele come in at $117,5m. Market cap company currently <$80m so made no sense for Vele to be more than that. From presentation NPV Makhado is ~$150m, Vele roughly $30m, Uitkomst $21m (purchase price), $10m cash, $7m Mooiplaats, and assuming GSP $0m (paid $75m) Cheap as chips. You do the maths

At least rand is trading 1% weaker against $ today at 12.07

Hi Doc, If you get a spare half hour listen to webcast with presentation. It’s very good and shows we’re not far from becoming self sufficient. North Adit: By Sep 2018, will increase ROM by 150k/year and cost around 20m rand capex so not huge. But will improve efficiency

Impairment is similar to depreciation. The value of the asset on the balance sheet is reduced to reflect its true value. Was valued at $120m so take off $87.5 shows what valued at on the books, and what we can expect to receive if we sell it. It doesn’t mean we’re in a worse position and probably means we’ll sell it

Impairment more than company valued at! Reckon we get $25m for it. When is the next board meeting?

2.15 cents profit from continuing operations

As we haven’t been granted regulatory approval for land access yet and rand is 20% higher this quarter I’m nervous what this weeks results will bring. Won’t be selling anything but need something new and positive!

Seems like will happen shortly, was due in February but change in mining minister delayed process. See what DB has to say on Thursday

Thanks Jantand, good post. What’s happened to land access? We were obtaining land through the Courts. It was just a matter of deciding what compensation we paid to farmer. Thought this would be done by now?