PYX Resources: Achieving volume and diversification milestones. Watch the video here.
Afternoon all,
I notice from todays RNS the installation of the 2nd dewatering pump mentions 2 phases of dewatering. I'm obviously behind the curve! I've never seen it referenced as 2 phases. Does this mean there is a plan to drain the upper levels and start production on the dry portion of South Crofty or is this purely for the extra drilling campaign?
Can anyone point me to where this has previously been documented. My understanding was an 18 month program end to end, with the infill drilling to start once certain areas were safe to access.
See 'timeline to production' here:-
https://cornishmetals.com/projects/uk/south-crofty/
Many thanks in advance.
ATB LB
Another cracking interview. Well worth a watch if you've not seen it. Looked to me like G had to reel it back a few times there.
@cadellin - Re the second 2m trade. Not totally sure it's two. I think the first was a non price forming (protected portfolio). Daily volume chart only accounts for 2m not 4m. Either way £280k looks promising.
GLA. Fingers crossed for all invested.
ATB LB
I'm with you on this fulmar. Just to add a full blown DFS is a handy tool to have in any combination of asset sale/JV/licensing scenario. With Phal and now potentially mosaic asset #1 there's a potential pipeline of projects forming. More so if you include further projects, mosaic or otherwise, as highlighted by SmartPunter.
It's going to be interesting to see what happens here over time. There's a multitude of ways this could evolve. All hangs on the pilot plant results and ultimately the DFS in my opinion. Bit more patience required.
ATB LB
A sign of life in the news void....
https://www.linkedin.com/posts/cizzle-biotechnology-plc_national-cancer-plan-activity-7086659460999323649-h8Bq?utm_source=share&utm_medium=member_android
ATB LB
Thanks for that. I agree a faster restart is a biggie in TUN's favor.
Back of my mind I wonder if Techmet / Mennell is sniffing about here. They already have a tungsten play but links to the Critical Minerals Association and the Lithium/Tin boys down the road may put this project on their radar.
ATB LB
@Troajan - found it :) cheers.
@SE. On the video linked below I heard George say 50:50 but I took this to mean on the PEA funding - Mosaic providing access to the resources - RBW providing the tech, and support via SGS and their current partners.
Bench trials, assays etc at this stage. I suspect, to see how this stacks up (no pun intended). Of course RBW could always ship some Brazil product out to the Mintek pilot plant to get some initial discovery numbers. ??
Looks like this could be a copy and paste of Phal, but the important difference is with ongoing feedstock from the remaining LoM (as pointed out by others). This link up with a giant like Mosaic could be a significant longer term development IMO.
ATB LB
Morning all.
Interesting rns. Mosaic are a gigantic Co. NYSE listed and circa $12b market cap.
Nice potential partner.
RBW seem to be sticking to their plan outlined below. Personally I like the diversification of territories.
https://www.linkedin.com/posts/rainbow-rare-earths_windpower-rareearths-phalaborwa-activity-7018248814553616384-3mL0?utm_source=share&utm_medium=member_android
ATB LB
Put them in chronological order from official LSE data:-
https://www.londonstockexchange.com/stock/RBW/rainbow-rare-earths-limited/trade-recap
1st one is almost certainly a buy. LRGS (large in scale deferred).
12.07.23 16:10:03 13.34 GBX 500,000 66,700.00 Off-Book P LRGS XLON XLON
2nd one was a probe / non price forming trade (TNCP) So not actually a buy or sell.
12.07.23 16:23:07 13.87 GBX 600,000 83,244.00 Off-Book TNCP ECHO XOFF
Then there was this oddity earlier @15p - ASK was 14 at the time ???
12.07.23 08:26:36 15.00 GBX 300,000 45,000.00 Off-Book P LRGS XLON XLON
Looks good to me.
ATB LB
This from a few weeks back. UBS presentation. Posted by SmartPunter 9th June.
HTTps://openexc.zoom.us/rec/share/dSzjWzpkoZ8rIb9UKIvY0rGDkYV0z7XcfaiMeWwVj_u1KkrebK08nmEESTDXUeEj.9p42b0F3ehWH22x4
"Q How should we think of long-term prices? What was used for Rainbow PEA?
George: [we] used spot pricing at time of PEA - $110/kg for NdPr. Rainbow could withstand a halving of pricing and still produce $100m per annum EBITDA"
ATB LB
@vii. Any idea on the next CLN dates? I'm away at the mo and only on mobile. It's a bit sketchy. I skimmed a few rns but couldn't spot a schedule but noted 2 tranches plus an optional 2m.
Tranche 1 was oversubscribed but the open offer was a bit limp ~£200k. 10% take up
7.1m raised so far.
So tranche 2 and an optional tranche 3. About another 5m... unless it's oversubscribed.
Thoughts?
ATB LB
@del. good work collating the list fella. nice one.
one question to add to your list. i'd like to know if the deffered shares (4.9p) are included in the 'nominal aggregate value' calculation? i think (hope) they probably are. it's an important distinction to establish as it makes a huge difference to the maximum number of shares that could be issued if there is a raise. approx 151m vs 500m **.
so a factor of about 3. if the raise was @3p that's either ~£4.5m or £15m. (*** packet round numbers!! ) **
** i'm going from memory. i worked it all out last night but had to rush up north today for a few days and i'm without the notes. raw numbers are on pg 70 of the annual report... that bit i can do ;)
i've separately asked the co to clarify via email but had no response as yet. not hopeful on that front but i'll update if i do.
atb lb
For those interested in this subject. TGK YGK and Kovinsky Kamen's side of the story.
Use chrome and translate the entire page otherwise it's a struggle.
https://b2book.ru/inn/5107020640-ooo-iuksporskaia-gornaia-kompaniia/finance/
https://b2book.ru/inn/5107908563-ao-tgk/finance/
https://b2book.ru/inn/6614005227-zao-kosvinskii-kamen/finance/
ATB LB
Afternoon folks.
Just closing the loop. As suspected. Pg 68, 75 and 78 of AR.... Loans to subsidiaries jumped c. £15.5m in 2022.
A shade over £28m now out on loan to 'related parties'
ATB LB
I agree. Based on the linkedin vid... The Mintek pilot plant is not that big or complex and could be shifted onsite with relative ease. It could be pressed into low vol production whilst a bigger version is built along side.
ATB LB
Precisely. That's my assessment of it.
If I remember correctly Cadellin posted a video interview a few weeks back . Might have been proactive... in which GB said words to the effect "Selling the stage one product could yield around 60% of the final value."
Interesting to see if this plays out.
ATB LB