Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
Gordie,
Brilliant link. I admit I hadn't read the distinctions between the tiers.
Colin constantly saying our BR is Tier 1 was just a way of saying 'really big un'...... but I see the distinctions now.
Come on Colin ..... get the model out..... the time has come...
Eastern,
CB latest comment in the RNS was that having received the last couple of holes from Racecourse and closed off the open pit in that direction, they can now progress the final Racecourse model. So all systems go on that front I hope.
Maybe the team can schedule in another technical presentation showing this final model soon. The Footrot and Ascot additional drills and the shallower drills can all follow afterwards imo ....before they issue the decision to mine... unless of course the model already shows the 2mt copper. If thats the case it will move even faster.
Racecourse should be ready to build the model now to give us the overall mineralisation.
Because Colin has stated they are shallow drilling to firm up early production targets im not expecting updated NPV numbers or a decision to mine for a little while.
But loads of holes in the plan that can be filled in with an interview..... so I'm hoping we get one of those..... today.
I'm with you on that Lucky. Is it acceptable for Colin to "discuss " the likely monetisation from a shareholders point of view? Or would that be too forward thinking? How much will depend on who buys Bushranger..... I.e. for AA likely it would be cash but if it ended up being sold to an up and coming Tier2/Tier 1 wannabe there could be a mix of cash and shares.
It feels like something that could be at least discussed..... but happy to be corrected
Sold for 40% of the PEA value.....wow. im guessing any upside to the purchaser was evident.
JAN haven't fully drilled the 3 areas that make up our DFS..... and there are a further 5 to be investigated..... id say that we also have very evident upside.
This year...... I dont think enough has been said in recent RNSs to say more than that.
We have a description of a 'limited' level of drilling still to be done, ascot to be firmed up, Footrot to be tested and the model to be interpreted and ... but nothing firm on timeframes. Would be over the moon if this was by the end of August but that's just me being my usual optimistic self.
I think with copper, the peak was exacerbated by China (consumer) hardly catching a breath with Covid to start with while the rest of the world (production) shut down..... now that's kinda flipped a bit in conjunction with the global slowdown so any drop in prices will undershoot the real market value.
If you believe in the Electrification story and the associated copper demand imbalance then you have to believe the price will recover strongly.
I'm not an expert.... but that's how I see it.
Just on that..... comms..... surprised there hasn't been an interview to 1. Go through the highlights of the Report and 2. Address the negative shareprice reaction.
Not saying he needs to but historically he has....
The MC is only $2million above the $6million total equities and liabilities from the resent results.... so almost zero attributed value to the $97million NPV/100% IRR project for a sought after list of commodities in Brazil, a country with a mature and well understood framework for mining... to be exploited by a company with a board with experience of delivering projects and a member who literally contributes to the country's legislative frameworks......
Got to be a crazy position to be in........
Actually.... gone back to the details of the drawdown... and in truth unless the shareprice increases significantly they are liable to not convert... but to hold them as debt....
Does still mean the clock is ticking.
Not particularly happy with use of a debt stream derived from CLNs..... but if thats what we are in so be it.
Has anyone calculated the full dilution effect of these CLNs when they were negociated?
Going forward we should assume they get 100% converted. CLNs that are paid back before conversion are rare... and if we sell Mankayan you just know they will be converted before we have the chance to pay them back......
Colin, am afraid this put a bit more pressure on when it comes to delivering shareholder value.