Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Don't believe the Teeling/Horgan hype. This is just Pan Andean Resources being re-cycled for the 3rd time, and it didn't end well in either of those 2 instances either.
Stay away, nothing will happen in Ghana OR Bolivia. I wud extend that warning to PET, CON and Botswana Diamonds too (same camp), where nothing either has, or will happen.
IMHO. DYOR. GLA.
Perhaps the Placing will be to pay for imminent Legal process & accompanying fees ? The BOD have surely reached the end of the road as regards negotiating with Politicians and the Swedish Bureaucratic process ?
Otherwise, why bother to appoint a new Broker ?
IMHO. DYOR. GLA.
Yep, luks like he promised much, in the way of news, but failed to deliver, then David Hall Weilded thev”naughty stick”. Onwards & upwards, with a new Ceo’s overview, hopefully. IMHO. DYOR.
Also, as far as I can work out, MAFL now only own 15% of Lagoa Salida after the recent Corporate restructuring.
Not enough to make it a serious investment IMHO, without all the usual MAFL "jiggery pokery".
IMHO. DYOR. GLA.
I would be very wary of MAFL Graphite - not the same quality of Management or asset, in my view, compared to EUZ. MAFL are "Flippers" rather than investors and I don't think that Lagoa Salida is anywhere near the potential "World Class" quality of Toral. It is also a very small company and doesn't have the management resources that EUZ now possess after they changed into a "Proper" company during the course of 2017/18 and taking on Myles Campion, Colin Bird and Consultants AMS.
Of course you cud always hedge your bets and buy one third in MAFL and two thirds in EUZ. UP to U !
IMHO. DYOR. GLA.
Yes, the Mine Planning Engineering , in conjunction with the Geologists (who should work firmly together) has been woeful. It was the Germans, who originally trained British Miners to work on a Tunsgten mine in the Lake District in the 18th Century. Perhaps they would have been useful here as well.
Either that, or just mine the slurry and then ship it to a processing plant in Europe, where they actually know what they are doing, as Galantas Gold do with their Gold Ore output from Northern Ireland (which goes to Xstrata in Canada).
Lessons all learned in hindsight !
IMHO. DYOR. GLA.
Hi Trellis, it's OK I reconciled the cash from the consolidated cash statement , just hadn't seen a £131,000 "Loans to Associates" item, whatever that is, or the true extent of the trading loss of £900k during the 6 month period. All rather sobering, when you think what the SP has done !! BZT had almost exactly £1m cash as at 30th June 2018, although presumably that is somewhere in the region of £750k now.
HEMO. will revert to you on meeting dates, when LR comes back to me - hopefully reasonably soon ! Would prefer Manchester myself.
IMHO. DYOR. GLA.
Well SASA is slightly higher in tonnage at 23mt than Toral (so far) but the SASA grades around 4% for lead & Zinc are considerable lower than Toral, as is the silver content. SASA Operating costs are very low at $760 /tonne, which is why that mine is so profitable. Even so, if Toral OPEX were , say between $1200 & !500 / tonne that would still give a useful , clean margin of $1000 /tonne +.
It seems quite unusual for CAML to have actually bought the SASA mine outright, given that they weren't a particularly large company in the 1st place (£200m or so), but they managed to do that with a loan from their offtake partner and by issuing more shares. It goes to show that any potential purchaser/ JV Partner of Toral need not necessarily be one of the mining Big Boys, such as Glencore or Rio etc.
To my mind, it seems even more likely, that the likes of international mid cap companies such as Lundin (mkt cap approx £3.2 Bn) or Boliden (£6.8 Bn) would be operating well within their financialresources if they were to make a similar £307m bid (or JV) for Toral. assuming all proved up satisfactorily in the Scoping Study.
To put that into context, with 5.6 Billion shares still in Issue at EUZ, that would equate to a price of 5.4p per share. Even allowing for £75m of capex (or $100m) to build the mine, that would equate to approx 4.1p per share.
Food for thought.
IMHO. DYOR. GLA.
And LR is completely correct, because all of the drilling that needed to be done initially has been done over 5 years ago and proved up to "Indicated" Status, by BZT and Confirmed by Goldfields. They have even produced a fully costed "Mine Plan", in their SS.
The key to making Mankayan a successful sale is working out how to unlock the Permitting Progress within the Philippine Mining Industry , together with Environmental and Political approvals that will all be necessary for the mine to physically happen. Their nearby neighbour, Lepanto Consolidated, only really got going in the 1st place because they were an old Philippino Family, who understood the system and had the necessary political clout. That is wot LR, CB and Ronnie Siapno (who is Philippino) are going to have to get though, (or around) and that is wot is going to take the time, though not necessarily a lot of money, to make the project a success.
IMHO. DYOR. GLA.
Where did it all go wrong ? - asked the Newspaper picture, showing Georgie Best in bed, drinking champagne with 3 former Miss World's ? Well the answer here, is the same. Just one big *ock up !
Sad thing is, some vultures will come along, buy it from the Administrators for nothing, then start all over again with a profitable operation. Shareholders will be left with nothing.
Management need shooting.
IMHO. DYOR VGLA.
This huge, cash-cow Company has paid an uncovered dividend for years and constantly lied about how it covers that Dividend, which HAS to be cut for the Company to make future progress Yet vastly overpaid management don't want to do that apparently.............They are paid millions of pounds each year, yet cannot read their own accounts.
7p of earnings , do not cover a 13p dividend, it's as simple as that, and why the SP is currently where it is.
IMHO. DYOR. GLA.
Does anyone know if the $500k raised by the sale of Choco, cash went straight into the BZT balance sheet, or was it offset against something else ?
Struggling to understand thwe cash balance at the last set of interims ?
IMHO. DYOR. GLA.
I can normally see what Directors and Investors are really upto in these dodgy AIM stocks, but I have to admit , I am totally clueless as to what is really going on here.
The only thought I had was that the Directors want out of the Sapphire Mine, and are happy to sell it to Aswath, who clearly reckons he can make a "Go" of it for some reason.
I was told 2 years ago that the stones were too small and of too lower grade to make the mine commercially successful, by someone who had worked on it before, so maybe Ashwath knows more than him ?
Either way, the silence from BOD and lack of shareholder explanations/presentations leaves extreme cause for concern. I think it will just disappear into Ashwath's hands and existing shareholders will just be diluted into extinction.
IMHO. DYOR. GLA
I Hope the NOMAD and BOD get a good spanking for horribly overpricing this nasty, Last-Resort Lender.
Greed never pays - I hope it goes the same way as Wonga.
Good riddance.
IMHO. DYOR.
Good to see that AML are on the case, with a new EV plant planned in the UK imminently @ Gaydon.
That is where the REAL future lies and having a UK base , with a weak pound, should not necessarily be a drawback, as AML have historically been very keen to source their components and technology domestically. could be VERY good news for the UK EV market and the training of technicians through UK Universities and Tech Colleges. I see the whole thing as a great potential future for British Industry and Norks to Herr Junkers & Fraulein Merkel !
IMHO. DYOR. GLA.
I believe that there is already a planned Investor Prezzo, in London around the End of October 2018, very similar to the ones which were done for EUZ , in the early Summer in London & Manchester.
I will update you when the full details are known.
Likewise keen on MC , but also CB has apparently been Very helpful at EUZ and also the local Spanish Team are excellent.
I am sure that a lot of that expertise transfers-over to BZT as well, as it is effectively the same management team, with a LOT of International Mining experience between them.
Sorry about the "Estate Agent" format, I have just sold my Audi TT and white socks , to ameliorate this !
IMHO. DYOR GLA.