Member Info for mattwales

if he is in Harare like everyone says he is then he has to work with his joint venture partner NIEFF and I am sure he is discussing further funding with them as we speak to get RHA into full production.

An update early Feb on that funding and production of tailings etc should come (otherwise why state NIEFF remain committed to financial funding of RHA).

however, he's stated costs have halved so if we can assume $75 rather than $145 per ton failings then you are looking at profitability around 6% higher based on current mtu rates of £240 per ton.

$149193/155 (300-145) = 962.53 tons of concentrate from tailings

962.53* 165 (240-75) = $158,817.45

i'm sure he is too busy with Nieff and Zim Govt to do an updated RHA technical report.

Based on the Company's internal estimate that development cost associated with the re-processing of the tailings amount to US$17,000, the Company has estimated that it can produce from the tailings a tonne of concentrate containing 59% WO3 for approximately US$145/mtu. At an APT selling price of US$300 mtu, the incremental profit on re-processing the tailings will in the first 15 month period of underground operations be US$149,193.

Costs of production have halved since that report and APT prices are around $240mtu.

Acker as per this report no offtaking. They plan on shipping it to Durban.

Here is that full report

https://markets.ft.com/data/announce/full?dockey=1323-13814030-1AAFGNKE6GIVFLPS921IM2PRIA

acker, if he is in Harare as commentators on here and advfn suggest he probably met nieff and is in ongoing discussions with them for funding...otherwise why mention nieff remain committed to funding RHA in this RNS.

he's come in 3 months ahead of schedule to process something at the plant.
I'd say thats a massive turnaround from the usual delays.

Acker he mentioned full production within 100 days of electrification whats that April time so reprocessing old tailings which are now viable from end of Jan is a positive move.

Cutting plant costs in half these tailings are now economically viable.

Whats not to like till they get to full production (at least they arent waiting 100 days)

He also mentioned continued commitment of Nieff to fund RHA.

In the podcast he talked of halving operating costs so reprocessing the tailings while they get ready for full production seems a viable proposition now they have power.

we're following the VAST EPO imminent news fast train.....

Good news is Tungsten prices are up over 40% from September lows as demand is increasing at a time when supply switched off.

Also good news is Manganese prices turned a corner last month. GR bought into MNH at the lows it seems.

Both should to continue rise in line with steel/iron ore prices at least for first 2 quarters of 2020.

If GR and Management were smart they would look for bond providers like VAST did with Atlas paying a 6% coupon to get to production and expansion.

GR would then be able to buy more of MNH with cash to fund MNH up to expansion quicker than 2 year timeframe and look at other expansion/near to production plants in Africa.

GR would also be able to fund Zulu up to DFS without a joint venture partner.

Even an announcement they were speaking to bond providers would signal he was being smart.

He mentioned he'd be looking to purchase 10%. If that is his trade that's a little over 300m shares to buy to get there.

His TR1 8% notification could come again before news.

he said he would be adding here....he called CLIN and ORCP right before they revalued.

VAST up 2 days in a row on just hope of EPO news.

Prem not moving and we have EPO, RHA electrification, RHA funding news and the possibility of more MNH on that RHA funding news. Also Circum which is supposed to go into production next year so realistically need IPO funding to get to production.

The Zimbabwe Govt approved their budget for 2020 yesterday. This will include money re: RHA which has already been promised to Prem with Prem already in receipt of Z$6m.

RHA was always stop/start cos of profitability.

Electrification and streamlining will cut costs 50% they already told us this so nothing to stop/start anymore.

Acker its not what I said.

Neil Herbert was CFO at Uramin and helped turn it from multi million co into a billion pound company before it was sold.

Then you have his ex Uramin work mate Stephen Dattels sitting in loan notes.

They obviously see massive potential otherwise they wouldn't be around.

we also know MNH were at RHA to streamline future production.

These guys now on the board of PREM will use their experience to get us into production on time.

They will also aid us in getting Zulu up and running once EPO has come through and probably in a much quicker timeframe than just GR.

yeah but if uve read all the recent RNS's you know the end of suffering for shareholders is coming.

if you calculate what PREM own you also come up with a figure pretty much close to £50m its an undervalued dog IMHO.

Also everyone commenting the MNH deal was a piece of crap.

We gained experienced management of running a pit as well as 10% of a producing asset which will double production by the end of the year and quadruple it by 2021.

Electrification and tweaking from those experienced management AT MNH will cut production costs in half for RHA and lets hope they can bring it into production sooner than later.

I'm hoping EPO news hits before any of them but feel we will get the RHA electrification news first.

Gaining the EPO means they can negotiate favourable bond terms to pruduction.