Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
You are spot on, to suddenly have to postpone the co-gen modifications shows poor management IMO. Running close to funding limit was always on the cards this year so they've either not planned properly or there are further problems they're not disclosing right now. Co-gen plant was a nice idea but has been a bit of a millstone.
Looks like IFL are running a bit close to funding limit for the next 6 months, not great they have to hold the co-gen upgrades to conserve cash. Good to see mining on track.
next quarter results sure to be hit by this but by how much? Someone at the DMR might be making life difficult for IFL or might just be box ticking not completed?
yea just like the old days… in 6 months time…lol. One big plus I am taking is there have been no further serious issues with furnaces, sales and costs will fluctuate a bit, avoiding any costly issues is key to keeping IFL on track. I really hope the co-gen plant 'fix' is indeed a fix!
isn't that bad, the co-gen plant has been a massive waste of time and money and I'm worried the new chiller is just another in a line of expensive fixes that doesn't work. You have to admire the strategy of looking at power alternatives as power shortages/tariff hikes continue to be an issue for SA miners but I have to say this scheme hasn't worked out for IFL, of course it may yet prove a success but from an SP point of view its been a constant negative. Not a whole lot has changed here though, costs under control and waiting for improvement in market conditions… could be a while so any investor has to be prepared to wait long-term.
Directors all buying too
you have to wonder if the co-gen plant will ever deliver in full, they are ticking over and how well they manage to do this until ferrochrome prices increase is more important than the sp for me. I think they messed up with smelters causing damage and rebuilds so as long as they avoid anything similar and keep costs down they should stay well positioned for market improvements. don't see much happening with sp this year
Another 1/4 with no furnace problems, only real negative for me is co-gen plant still a lot lower than 11% target. The rest is just normal operational fluctuations, lesidi on track as well is good to see as a year ago we'd be expecting problems and delays.
another solid if not spectacular 1/4, happy with that
good news to see Lesidi resume mining
Shame the Lesidi review has been delayed… seems to have dragged on a bit. Also have I missed it or has there been no further news on PGM recovery from Skychrome that was mentioned in previous IMS?
A good solid RNS, IFL appear to have turned the corner and are now at the mercy of the ferrochrome price… which is a good result following years of issues with furnaces etc. A slight question mark over mining and recovery rates remains though. I don't see ferrochrome price improving too soon unfortunately… maybe see some improvement in H2.
I view this as an endorsement of the asset but not of FDI in any way, they still have an awful lot to prove
Zero
well as compared to the past few years this is a great RNS, says it all really that I'm calling an average RNS great!
my feeling exactly, a near complete BFS itself is worth more than the sale price so you have to seriously question what's at play here. The II's, if they let this pass, must be somehow in on it as there is no way they will write off money that easily. BUT this is Aim and anything goes so don't expect anyone to get into trouble if there are dodgy deals going on. A clear fault of the board is having raised that £12m they waited far too long to halt progress knowing it wasn't enough to complete the BFS, had they done so sooner with a bit more cash left they'd have plenty breathing room to work out other solutions.
pretty poor value returned for all the BFS work already completed… AFE board have made a right mess of this company. 10% fee carry probably means nothing - if AFE can't find funding or some JV deal for Dutwa how will some other company manage it (and if they do why couldn't AFE)
started readin git and got to this "To maintain the AIM-listed plc with a view to seeking new investment opportunities in the natural resources and related sectors, thereby retaining a possibility of securing some upside for shareholders." that's as negative as these statements get, doesn't sound like they have much hope left themselves
something stinks about all of this, if he was owed money why wait until now to issue the winding up petition