Member Info for Markyess

If you use 35% Mn per tonne, rather than 38% Mn per tonne, that equates to $77 per tonne on the button.

I was certain we were 38% per tonne Mn. Probably Dave Reeves style conseravtism and upside baked in.

Rounding differences is all. It's not truly round percentages - plus some very marginal economies of scale differentiating cost per tonne vs DMTU

Jim - change in cost base is due to moving away from in house resources to using a turnkey operator.... higher cost per DMTU, but beneficial as you don't have retained costs during wet seasons or non productive periods....

Because our Manganese grade is around 38%, so within 1 tonne of ore, which represents 100 DMTU of material, only 38 DMTU is beneficiated Manganese - and so for every tonne, there is 38 x $2.20 of cost in extraction/beneficiation

Number of Tonnes per year x 100 (to reflect DMTU) x 0.38 (to reflect % Mn Grade per tonne) x £ Profit DMTU x 0.765 (to reflect Keras Holding in SGM)

So many variables, it would be reasonable to think the P/E ratio will be anywhere between 3 - 15. Takes into account mine life, diversification of assets etc.

For stage 1 Nayega (and Utah) - aim for the lower side, maybe around a factor of 5. As Nayega hits stage 2, maybe heading upwards to similar P/E as Jupiter Mining (around 9) - progression into Manganese Sulphate, and progression in the resilience of Utah phosphate could see that creep up.

I may be a little jaded by the market sentiment to Keras, so I don't expect to see giant leaps in the short term, but have confidence that the value is there and will ultimately be realised when yearly and half yearly accounts reveal profits and dividends. i.e. the market will respond when it gets a sharp slap in the face.

You'd like to think so. There may have been a dependency bon operating revenues built into the ramp up plan, but with 12 months to think on it, I'd hope they have come up with some alternative funding options, such as offtake agreements to help get us there faster.

I can't imagine they've sat idle (well, those not on furlough)

JR - we're good to go on the 6500tpm phase with no additional capital investment. I'm near 100% certain that on one of the last equity raises (pre Diamond Creek) part of the funds was used to initiate orders on long lead items to ramp up Nayega production to phase 2 levels.

Exactly, diggit. The main reason I am taking a much more muted, pragmatic (realistic) approach to the news. It's pointless to get too amped up too soon. This will give us the equity value and dividend income we all deserve without the need for artificial pumping. I have a good few million reasons to want this share to succeed, artificial short term opportunism is not helpful.

Great stuff. Obviously there were Togolese government media sources stating we'd be in production by Q1 of 2020, but we must have faith it's different this time.

Exactly that Monty, it's certainly positive that there's constructive dialogue without necessarily being the pot of gold we all wish for. Yet

If we've not yet secured the ultimate prize, I don't think we'll incur the NOMAD costs of an RNS. There might be some further, less formal comms, maybe an interview.

I think we'll only see an RNS when there is actual news.

Yeah, I'd say so - seems more like a 'filler' type 'release' to show that there's a presence and has been progress. It feels like a photo of the rainbow as we've not yet reached the pot of gold. To be sure.

It's a new government, I always doubted it'd be done immediately. If they could hold off another week or two (but no longer) so my company's trading account is finalised, and share price remains at these levels for me to buy my firm in, I won't be too disappointed...

I wouldn't underestimate the future potential of Utah, a project that led to two Director investing £750,000 of their own money, first and foremost. A sum of money that is material to both.

A poster on ADVFN claimed to be 'reliably informed' that the leadership team were back on Togolese soil.

I can't validate the claim either way. The poster in question hasn't had a prior reputation for being a chancer or ramper, though.

I'm looking forward hopefully to a bountiful flow of positive news (in Oz, Togo and Utah) to help alleviate the negativity of lockdown.

Otway drill results. Headline looks promising regarding intercepting mineralisation at shallow depth.

Detail to be published around 21:35 UK

It'd need London and the South East to hit Tier 3 within the next 7 days, wouldn't it?

I can't see BoJo and the Tories locking down that geography in short order.

It's my birthday on the 15th. If we haven't received the license by then, it won't be this year. IMO.

IG and II seem to have received positive reviews for people transferring their CAI holdings in order to trade.

I, similarly, need to move my SIPP and ISA holdings (from Halifax and HL) and will be using one of the two.