Member Info for iWantThatOne

Together with some Morn Dew cheese! Which is, in fact, an actual British cheese named after Del Boy et al.

Interesting article on the BBC site: Massive Attack’s Robert del Naja slams polluting gigs and events, including how they’re powered. Remember Coldplay stopped touring until they could work out a sustainable approach. Pressure building......

Digitalman, the fact is that the EUS of c2bn is only bringing in revenue of £10m. Deduct costs of more than £7m and you’ve not got much profit (there’s clearly more revenue and more deductions elsewhere but this is the major part of it). But it was always going to be about the next few years - if the company can get to say £5bn EUS then that’s another £15m revenue pa at negligible extra cost. With an increasing number of other revenue generators.

Midaz, yes, correct. Earnings from continuing operations were basically 1p per share but that will increase hugely over the next few years. I’m slightly puzzled by the loss of £0.5m from NHN, not sure what’s happening there. On payments it looks like the average fee is now down to 0.5% of EUS - last year c0.65% but then there are additional revenues now from licensing etc that seem to compensate (some of which may not have been separated out last year so maybe the reduction in average fee is more modest than I state here). Bango Audience revenues will add a good amount for the first time in 2022, it seems. Overall I’m happy, and particularly impressed with the diversity of revenue-producing opportunities.

Excellent news - ABB, Ricardo, Mace and (hopefully soon) Acciona all developing plans for multiple units around the world. This time next year we will have a significant order book and pipeline which (IMO) will underpin a very healthy mcap, so no need to worry about that. Those people concerned we don’t have specific revenues attached need to give their heads a wobble. That’s not how it works when you roll out disruptive technology. Oh, and we’re going to need a bigger shed.

Cyber, I posted briefly on the GT Goid figures last week sometime. Their overall resource (Indicated and Inferred combined) came to c800Mt of ore, whereas we hope BR will be 300-400Mt or even more. So GT maybe twice as big. Their Cu equivalent grades, including gold and other metals, was close to 0.5%, but that was over a year ago when copper was lower value compared to goid. I suspect the combined equivalent grade now might be closer to 0.4% - similar to what we might expect at BR. So overall BR might have half the “metal” compared to Saddle North but that doesn’t mean it’d be worth only half as much (IMO). Saddle North involves underground as well as open pit mining; sulphide as well as oxide. Also British Columbia may (?) be a more challenging environment. All that might mean more expensive mining. I calculated that the purchase price could be broadly justified if Newmont valued the Indicated resource at 2% of the metal content and 1% of the Inferred (because, logically, inferred is less certain). In the end I took comfort from my high level calcs that our hope for a 3% multiple of 2Mt Cu equivalent could be justified (if the mineral resource is fully worked up).

Well I’m happy enough with that RNS. Grades consistent with current figures. A what - 30% increase in Indicated? Together with a much higher POG and much lower power costs since the original PEA was done, I’m expecting a doubling of the Dugbe NPV by the tine the DFS emerges.

Bushy - a) you've not allowed for extra shares being issued, certainly to pay for capital costs in respect of Dugbe if not Karoussa, and b) neither Yani nor Karoussa have a ten year life to support your PE ratio. But I do agree there's lots of upside from here.

I do like the sound of this ETF - it avoids having to pick the winners yourself, or else invest in a broad spread of companies directly. If it were available to UK residents I'd buy in for sure.

For projects ex-Bushranger to support the current SP we'd need a discounted value of c£60m ( or say $84m) from them. Is that realistic? $1m per month for 7 years, say?

Andrew, in his interview I think CB referenced the grades from the original JORC some years so I'd say that's where he gets his 0.4% figure from. He has also previously said that grades throughout the whole LFB tend to broadly similar. I doubt he has advance info but has enough supporting data to be reasonably confident. We shall see.

I'm with you pixie: as our American friends say, "I call BS" on this gap nonsense. Even the chartists say sometimes a gap fills, sometimes it doesn't, so why should this one at 37p? Onwards and upwards.

Newmont paid US$311m for the remaining 85.1% of GT Gold, which values the whole company at US$365m. According to its investor presentation from March last year its Tatogga asset in British Columbia has 298Mt of ore in the Indicated category and 542.8Mt in Inferred. At 0.47% Cu eq. and 0.42% respectively for the various metals contained in those two categories, the total CuEq comes out at 1.4Mt and 2.28Mt respectively. Make of that what you will!

I see our fuel cell peers Plug Power, Ballard and Ceres are all down by about 40% in the last month.

Please God, somebody buy us out and save us all this agony.

This looks like panic selling now, either recent buyers worried they'll permanently lose their investments or slightly longer-term holders anxious to hold onto profits. Folks, you do realise you don't need to protect your profits from further deterioration if you all just stop selling! AND you'll miss the bounce when it comes.

I can’t really see how Colin can predict a 1000m cube based on three and a bit holes, none of them with 1000m of mineralisation. But hey, who am I to spoil the vibe? Go Colin!

I suggest that the muted response to the results is because the company had already communicated the majority of the content. “Nothing to see here!”. Other partnerships /collaborations /potential deals are in the pipeline (eg other “Accionas”), this we know, and one of those will no doubt be a catalyst for share price movement. I do like the sound of the S series being a “game changer”, btw.

For once I’m not expecting too much from tomorrow’s update. We must be completely up-to-date with EE already. It’d be good to hear more about progress with ABB and AlkaMem/the S series, though we had some of that just the other day. It’d be a huge coincidence to get a separate RNS on a new deal, no reason to think why we would. So just a solid, steady update expected from me. But that’s ok - we really are still very near the start of this journey. Btw I saw Toyota is rolling out a modular fuel cell for which it claims market-leading energy density, not just for use in cars but also trains, ships and “other uses”. Don’t have a link, sorry.

It’s worth pointing out that those of us who value Racecourse at >=30p do so in the basis of a buy-out. Having to develop the mine would involve much capital raising and dilution, though even then the end result may be worth it as the profits would remain 100% with XTR. I can’t see that as a viable option though, surely this would be a packaged sale.