Member Info for JimBL

Or rather, ICSID, International Centre for Settlement of Investment Disputes

International Chamber of Commerce arbitration, Paris. Just as several other companies have succesfully done against the Togo Govt.

I've now had my French speaking wife read the article and it does literally say what the translation suggests.

Which would be utterly duplicit as the Togo govt required us to turn SGM from a private limited company (SARL) into a public limited company (SA) which we did and handed them a 10% carry.

If Google translate is correct, "However, if the conditions of the license and related agreements were intended to lead to the transformation of SGM into a public company, Keras will not receive the approval required to obtain the exploitation license."

I for one am concerned about the previous suggestion from the BOD about selling. I mentioned I couldn't see how that would be possible, or attractive to another buyer, for an asset the govt refused to license. I sincerely hope we haven't done or aren't going to do a deal with the Govt at a bargain basement price rather than take them to arbitration.

We damn well better, especially considering the size of some of the other awards against Togo.

Hate to say this is precisely what I've been banging the drum about happening to us for years, but -

https://www.republicoftogo.com/toutes-les-rubriques/eco-finance/naissance-de-la-societe-togolaise-de-manganese

No problem.

As for the rest, see my reply to PC. I haven't watched the video but it appears to make no sense to claim we are selling at $400 - $500 when also providing what appears to be a profit (AISC) margin of only $80 - $100. That would have to mean our opex/AISC per ton was actually $300 - $400 and has drastically risen, not dropped as we move forwards.

These are issues we all need answers to.

PC. "It does all seem a little fuzzy at this juncture, as we are not being given enough or any accurate information".
And that, is the entire crux of the matter.

Rock phosphate price acording to the World Bank as of February was $322.50. It was $300 during Nov, Dec, Jan, but also was up at $320 last Jun, Jul, Aug.

The issue is we have no idea what our AISC is for DC, nor our actual selling prices. The original information we were given is that we would be subsiding the product price (AISC/Opex starting from $229 p/t, reducing to $92 in Yr 5) in order to gain market share.
If we were on track according to the original plan (as per Shard) then our operating cost (or AISC) per ton should now be down to around $150 for the 2nd year of production. There is no indication from the interims that is or is expected to be the case - or/and we could of course still be heavily subsiding sales price.

Hopefully we get a far more transparent set of numbers and explanations when the BOD decides to actually communicate something to us (at long last).

Learn about the fertiliser market. DAP does not mean 'direct applied phosphate' and nowhere in Shard is the DAP acronym used, precisely because of that.

If you don't agree with the company's own interims, financials and projections of last September, then you go right ahead making your own reality and interpretations up.

As Prop pointed out to you. We don't currently know what the opex is per ton nor even the current sales price. Instead, we got the vague and confusing "AISC margin" figure.

Happy dreaming.

Numbers? The interims stated " Sales guidance of between 7,500 tons and 8,000 tons of phosphate product forecast from September 2022 to June 2023 at an all-in sustaining cost (AISC) margin of between $80 and $100 per ton"

Unless things are markedly different (and we've had zero information either way to suggest that from the BOD) then our best case scenario is potential profit of around $700k (using the mean of 7750 ton at $90 'margin' - if we take that to mean profit). That'll be earmarked - I presume, as our only source of revenue - for the next payment toward the outstanding monies owed from the FI buy-out.

I really have no idea whatsoever why anyone gets rampy about this based on these numbers.

Exactly correct all round.

Chesh - it makes no odds how high grade our product is. It is yet to be proven that enough customers want to buy it or even need it.

Well, in our case, we don't have any other projects. Any reference to AISC can only pertain to DC therefore, right?

We don't produce DAP (Di-ammonium Phosphate ) - which is manufactured by combining ammonia phosphoric acid with ammonia. This and MAP are the two main types of commercial agricultural fertiliser.
We mine, crush, and sell organic phosphate rock. I suggest you read some more about what the company your supposedly invested in, actually does.

Seriously, Mark. At some point you are going to have accept legitimate criticisim of the BOD. WTF where they thinking , and who were they associating with to have got into bed with these bozo's?

Surely its concerning that our BOD must have had detailed discussions with FUR prior to their investment? It is to me.

Considering they both seem to be going down the tubes, I'd think strategy was/is not a strong point!

RNS from May last year stated they held 7.04%. Incidentally, one of the Directors is also a Director in FUR.
I raised my eyebrows at their involvement when we first got the news of their investment as AxCap (dodgy name, seemingly chosen from the tv show Billionaires!) sprang out of Netcoins Holdings Inc. A failed crypto/software company.
And to add to this, the following info was previously posted about FUR:
"First Uranium Resources Ltd. filed its Annual on Feb 03, 2023 for the period ending Jun 30, 2022. In this report its auditor, Crowe Mackay LLP, gave an unqualified opinion expressing doubt that the company can continue as a going concern."
Karam Minerals launched in 2019 and then became FUR in 2022. Why they and Axcap decided to invest in us at the over inflated price they did (12p), probably deserves some consideration in its own right.

So, we find out how sales are going etc only twice a year? I find that suggestion far from appropriate.

Hey, I'd absolutley love a Gamestop happening in here. We need the rampers to hit up Reddit and repeat. I suspect that's the only avenue to actual profits for most of us from pre-consolidation time and way beyond.