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Gets more depressing here by the day Bushey! Did you say 5.5p? You could be right.
NTD, the more i analyse the update the more bullish i am becoming. Earnings are clearly rising now. As you say the bulk of the expenditure on Roan and Sable is done. Earnings are now going to accelerate. The large rock project will be fully funded by IRH. News on the tailings has slowed down, but understandably so. They have to get Roan underway before taking on the tailings and probably the new rock project too. Leon will be grasping for another refinery by then. With Roan’s capacity smashed. Loads going to Mopani on a tolling basis. Leon will be eyeing up the next refinery now. Copper is staring to unfold right in front of us. Whilst the chrome earnings look to be incredibly solid, especially when the new module is added.
Just call me mental then.
Seis, i dont get the excessive moaning today. Ok, Roan is behind schedule, but ramping up to 600 tonnes per month. Quarterly earnings will start to look quite tasty in the region of $15M. With so much more to come, the market has to recognise this soon!
Seis, you really have to question his mental state! I feel quite concerned for him! Still all that aside, Jubilee is now ramping up copper production. Not as fast as we hoped, but the ramp up is now on.
Wise words from you as usual Dorf. The detractors on here are having a field day this morning, predominately trying to get themselves invested, apart from the village idiot. The fact they want to be invested speaks volumes. Look through that short delay here and the copper is well and truly up and running. Its effectively now ramping up. 600 tonnes per month and then 1,000 tonnes.
Frog, think your being a tad harsh this morning. Its very disappointing about the delay. Numbers are now ramping up. Looks like they are still on course for guidance. Everything outside of Roan is looking positive. Its a delay, they are in the process of overcoming and shouldnt affect guidance.
After the initial disappointment of Roan still being 8 weeks away and coming to lots of irrational thoughts. I re-read the RNS and actually found it quite positive. The highlight being chrome up 39% on this time last year. But not just up in quantity up substantially in value. So looking forward to the numbers there, hopefully soon. Copper was up 33% on this period last year. Plus they are saying in this work around period, Roan is capable of 600 tonnes per month going forward and circa 1,000 tonnes per month in 8-9 weeks. In the grand scheme of things, in a short while earnings are going to jump massively and if the 6oo tonnes now is correct, they will jump up substantially this quarter. Disappointingly PGM's down 9% on a year ago ,but hey, there's so little money in PGM's its not going to change anything. But that is all our own production, this time last year may have included the joint venture, so could actually be better. Sable growing to 16k tonnes will be a massive boost to the bottom line. Thutse being expanded for another 300k tonnes expansion plus new life of mine contracts progressing outside of this. At current prices chrome in itself will become a considerable income source. So bitter sweet for me, see past the next 8 weeks and earnings start to multiply. To be fair at 600 tonnes of copper per month now, they are jumping now.
Wonder if its becoming harder to source, with all the shutdowns?
Seis, rhodium nibbling up, whats your thoughts on this?
Its becoming apparent Frog, hes getting his chats mixed up!
Haha Frog, when i first read that i thought he put it on the wrong board! At least you have corrected his mistake!
People will naturally want equity based returns in a growth market. A much greater share of the M2 monies will be directed towards equities. I also believe investors will favour copper based stocks to gold based stocks. For the simple reason, copper will increase in value and gold will drop in value.
Gotreal, i cant understand why anyone would want to be in gold now, with markets anticipating a pivot. Money will move en mass to perceived higher risk assets. There probably was a good argument 2-3 years ago. But now we’re rapidly approaching the end of this cycle, why would someone want to buy gold? I think there has been a few jokes flying around, copper is the new gold, but hey maybe much more serious than people think? Also interesting Rhodium has been nibbling up, when most other metals have been going in the other direction this week. Is Rhodium about to make a move?
Jonah, i believe financial change is on the Horizon. Chrome earnings are going to increase and PGM’s can only increase. Closures, care and maintenance have found a bottom. Add copper earnings with Sable at full tilt and Roan performing, the opportunity to expand its closer than most believe. We’re on the way.
Jonah, it will be good to know a little more detail on the sulphide circuit expansion. How much bigger is this going to make the circuit? Leon has confirmed local and opportunistic feed stock is only filling the gap, until Project M and the new partnership overwhelm capacity at Sable. I don't think it will be long after this Leon, will want to secure another copper refinery. But, i think he has to get Sable at full tilt first. Amazingly, this could happen as early as the third quarter this year! With Roan and Sable at full tilt, Leon &Co will have the fire power finally needed to really start to move matters forward. They have the binding MOU at Mopani, which will have to be used, because of the considerable volume from the partnership, especially when they move from 4 modules to 6 or 8. However, I believe Leon has his eyes well and truly set on Chambishi. Jubilee will need another refinery fairly soon after the partnership is up and running. In previous presentations Leon has clearly stated his desire for another refinery and the road map is starting to unfold. Enter the tailings!
Bushey, you missed your vocation in life! You should have been a bingo caller!!
BB2, i hope it works out for you here and the other decent holders.
Hi Chester, i think they have had to put the breaks on the 600,000 project, purely down to funds. So much expansion and development going on with copper. Plus the planned doubling in size of Thutse. Something had to slow down. Once Roan is in full tilt, i wouldnt be surprised if they announce the project. Plus as Northern states there is very likely to be a distressed refinery up for grabs, completing the chrome and PGM picture. Wouldnt be surprised if they already sighted their target. The second quarter chrome and PGM figures will be very interesting. Thutse should be in full flow. With so much attention on copper, this could be a lovely bonus.
@ Happy Days, totally, cant see this recovering. @ Frog, i had the same thoughts, but cant see the odds being as good 50/50! With what looks like the macro pivot underway, people are going to flea from gold into risk assets. Cant see the price holding.