Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
Looks like LUCY IPO is set for this Friday, according to the calendar here https://stockanalysis.com/ipos/calendar/
Thank you Sea
I probably should have explained the context. The interviewer suggested that Microsalt were making good progress to which he replied, ‘ I wouldn’t use the word good I would say it’s almost ineffable’
Just watched this interview again and finding it difficult to restrain my excitement.
I generally try not to get too carried away by CEO interviews and claims and instead rely on RNS releases.
However, I’m allowing myself an exception in these circumstances.
He makes a point to correct the interviewer’s wording of Microsalt’s progress to ‘ineffable’
I truly believe TEK will bring forward my retirement plans!!! GLA
Gray,
In the recent WHI note they mention Cobalt Hydroxide which contains 20% cobalt. This would then achieve 80% of the market price. They also mention 1,600t per year.
It can be found in the notes in the left column on page 14
Odd that there’s no mention of Jubilee in the RNS. They are also suggesting early cash flow could help fund a processing plant, whereas the original plan, I think, was for Jubilee to design fund and build it.
Yeah I think you are using the headline prices dorfan, I’ve adjusted for the smelter price which was quoted in an old WHI broker note
I have 84% for platinum and palladium, 81% for Rhodium and Gold and 53% and 48% for Ruthenium and Iridium
If I ignore that reduction then I get $3673 for EL and $2938 for Inyoni
Rhodium is around 12% in the Eastern Limb.
I had a look at our sales price per ounce yesterday and, based on the various metal prices yesterday PM, I came up with following :
Inyoni $2,344
EL $2,938
According to the 6m report the transport costs were $262 to bring EL tailings to Inyoni and processing costs were $560. So based on all those assumptions the current earnings per ounce would be:
Inyoni $1,784 or £1,322
EL $2,116 or £1,567
If my assumptions are vaguely correct then the only reason to construct a processing plant on the EL (which seems to gain traction on every RNS) would be be if there were more tailings deals in the pipeline, as the current claim of circa 15k ounces a year doesn’t seem to justify the outlay
I don’t normally comment subjectively (as an accountant I usually stick to numbers) but this RNS really excites me.
It is definitely a statement of intent and I’m excited about the future more than ever.
I too see this investment as my early retirement, and do you know what, it might just happen in the next couple of years!
Although after stating the circa 20% cobalt, the BN then goes on to state the actual cobalt assumed of 1600t. Which implies a cobalt hydroxide total of circa 8000t, which contradicts the 5000t they mention elsewhere in the note!!!!!
I’ve just had another look, following the link someone posted below, and the numbers are different!!!
If you access the broker report on Jubilee’s website it is now dated 9th December. It has obviously been changed since the original was released on 7th December
Thought I was going a bit mad for a minute there
For me, in terms of the numbers, I’ve concentrated on the cash flow and financial tables on pages 14 and 31.
The former breaks down forecast rev and GP for all metals and areas in $ and the latter just has the totals in £.
I added up the rev and GP in the cash flow breakdown and it coverts almost exactly to the financial table using 1.35 ER for all years
So, unless I’m missing something, the Copper GP forecast for next financial year is $20m which seems reasonable, it then ramps up to $78m in YE 2023 and $161m in 2024
All this equates to a profit after tax of £47m £89m and £130m in the next 3 financial years but crucially:
1. Doesn’t include any Cobalt earnings
2. Nothing for Cyprus
3. No expansion on the PGM front
4. And obviously no future deals
As others have said it is a very detailed report, the likes of which we have never seen before
I was a bit surprised to see operating costs at £26m for the year, a substantial increase on PY.
But delving deeper I see that they have written off £18m for the Nickel tailings, which now has a zero balance in the accounts.