The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Here we go with your 3-6 posts '1 month old dodge account' you won't last long here, believe me.... Spreading FUD - fear uncertainty and doubt - over the bulk underground, because that's essentially the only unknown left that such disingenuous posts can target.
Last year we had months and months of tecnhical FUD with the GreenTool and others - who said Havieron would never be economic... but here we are 12 months later with a gigantic starter deposit, a $50m decline going in, and $50m GGP cash funding to DFS, and a published phase 1 mine PFS to take to the bank ... so NCM can get ore to Telfer ASAP.
You may be able to confuse and scare the un-researched with your manipulation, but you cannot touch Bamps or me.
For the rest of you MrBig is a skilled and devious operator who last night was attempting to exploit an ostensibly clever argument. The posts were subsequently removed this am. For the correct reasons.
What he/she was trying to do last night was apply NCM's conservative, underground stoping phase 1 mine operational costs @ $84/tonne - actually $81/tonne according to GGP using the correct exchange rate to Bulk Underground production.
The first Stoping operation has naturally has lower volumes, due to the inherent volume limitations of the Stoping technique and higher costs - ore transport to surface limitation, requirement for drill and blast / explosives, and extra material handling, and subsequence labour in back pasting costs )
But you cannot apply this to the anticipated Bulk under ground block caving grades of the larger scale deposit where the cost per tonne would be circa $25-27/tonne
This is a totally and fundamentally inappropriate comparison made by BiggL - It's like comparing two completely different company cost structures, AND specifically designed to imply that anything under 1.5g is likely to be 'uneconomic'...
And It's total BS becuase we ALL know that Cadia is economic down to 0.4g/t Au... specifically due the bulk efficiencies of the operational costs.
And very much like comparing and interweaving the cost structure of building Ferraris directly to Ford Fiestas -
IE both make massive profits, BUT in TOTALLY different ways . Obviously You cannot make a profit building Ford fiestas in the way you build a Ferrari though. That would be loss making.
That's the best analogy I can come up with. And that is the tactic of this poster. Always Happy to smash them into touch.
Expect Multiple shorter accounts with a very obvious agenda.s
Regarding bulk underground : The only question is will this be a block cave or a more selective sub level cave...? Anyone with mining nouse can see that.. The grade in those breccia are nothing short of sensational. And a mine in their own right
Thanks again Bunky, made me laugh.
My comment vs pros was a bit tongue in cheek, but your observation is right that my investment here is right off the scale vs my usual balanced risk attitude.
The size of my investment here whilst a decent sum is a small proportion of my portfolio and one I can allow to mature like a fine wine and learn from.
@Bunky, thanks for the advice, I will look into that further.
To be fair I am relatively new to buying individually company stocks (18 months), up till now our investments have been managed on a discretional basis with the help of my FA. Duringlockdown last year I took the opportunity to dabble myself as I suspect many did for the first time.
I enjoyed the experience and have just retired recently (luckily early), so I now have a bit more time to devote, we will see if I can beat my advisors over time!
This was one of the first shares I liked the look of, can’t remember if it was a tip off from a mate or from reading another BB but it has certainly been an education following this BB.
Whilst I’m here I would just like to add my gratitude to all the knowledgable posters here, we know who they all are. I check in most days not only for great insight but I also find some of the debate quite entertaining if the intent is not too mischievous.
Maybe I should get out more……
KevWT
The only problem is whenever I have tried to undertake transferring of shares in this stock I just can’t bring myself to sell any, so my holding just continues to increase. Hopefully a nice problem to have down the line!