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Hi Makeabundle,
In ground value for EUA roughly $8.4B not including Nyud, for Khoemacau $59.1B.
Khoemacau is operating, all processing plant and mine machinery etc in place, known recovery rates, known mined grades as opposed to projected grades, known costs to mine.
People might want to have a look at what Khoemacau Copper Mine had in terms of reserves and resources compared to EUA.
Khoemacau agreed a sale today for $1.88b.
Contained metal 6.4 Million tonnes Cu, 263 Million Oz Au all at high grades. Currently producing, massive potential in 4000kmsq exploration area.
Hi BellaStar,
Your first ever post here said "Kova Stone won the case for the entire industry".
You are now clearly back tracking and admitting that isn't what it says, the appeal hasn't been heard. It may well be the outcome but lets wait for confirmation before jumping the gun.
Hi DATTABASE1,
Struggling to understand how you can disagree, translate the link given and it's clear the appeal was moved 2/11/23 to the Economic Disputes part of the Supreme Court, that appeal is the one due to be heard that Stonl referred to.
It could very well be that tax levels will revert back to previous levels but until the appeal is heard you cannot claim it as having happened.
Pedantic point no doubt.
Thanks to lovelyboy, a more creditable source of information than some.
Points I noted.
Trial vacated, actual wording seems to be Listing of 13 November vacated. The hearing was listed over 6 working days from 13 to 20 November and whilst no cost order each party will have incurred pretty heavy fees. Solicitor and barrister booking time out for a 6 day trial tends to be locked in fees whether the hearing lasts 6 days or not as they pass up other potential work by booking the 6 days out.
At 6, Both Claimant and Defendant are at liberty from 5th March to apply for such further directions as they see fit including the option to destroy the new certificates (cover in case anyone comes forward claiming some ownership).
Hi Makeabundle,
Yes, I accept NN need to plan for the future but they have a long future in some massive projects and they were really the first company (before they were NN) to have explored the area quite widely to then concentrate on specific areas which held the most promise. NKT had 51 rich veins of Cu Ni that they mined, it seems some of those were thinner veins (that are part of the proposed relaunch of the underground mine WAI refer to although the mine is described as "drowned") were not economical for NN to mine previously. There were also 13 rich veins at Sopcha, don't know if NN found them or not, some of these might have been mined but there is little information I have found on it.
As I have said NN proved up Vuruchuaivench to good levels but have never tried to develop it Reserves booked 2010), they concentrate of Tier1 deposits which Vuruchuaivench isn't. Having booked reserves to the Russian State Balance there they have first dibs on the area to my understanding, no one can move into it without NN stating they have no interest in it which is part of booking reserves to the state balance.
As I have said, a great deal of potential in the area spread over a number of seperate deposits but a long way to go before the true potential is known.
Rocky4, not something I can answer because a lot is unknown. Certainly the MCap is far lower than it has been so risk reward has moved substantially. News on the WUP needs to be given, may come to nothing, may not and there is no clarity currently on whether or not there is a buyer out there.
Waiting on the MT DFS reveal.
NN seem to have walked away from the area, why pay massive amounts to EUA to buy back into it? EUA haven't secured Poaz and they would need a mining licence within 5kms to do so which could take years, nothing to stop anyone else, including NN gaining Poaz at very low cost (as per the JV EUA had with Rosgeo). It's always been part of the arguement, how could EUA pay so little to buy into the JV and immediately sell it on for billions.
Hi Makeabundle,
As I said previously, Montyboz and I talked about Poaz after he posted some press comment from Poaz by Rosgeo in which they were predicting high tonnages of PGM's there. Montyboz posted the tonnages, I posted the comments Rosgeo made about it.
"It is not reasonable here to compete with Norilsk in ore deposits but the economic effectiveness of developing these not big nickel deposits is quite good"
"We are still looking at whether there is or not and then if it is proved that there is, then a lot of drilling will begin and the volumes will already be estimated",
They did some more drilling and raised estimates since those comments.
Bearing in mind EUA took well over 10 years to go from taking over the MT exploration licence to getting a mining licence there it shows how long it takes to from potential resources to proven reserves/resources.
Ahh, those were the days, actual proper detailed drill results as per AIM listing requirements. Sadly it's been many years since we have seen anything like that.
RNS 13 February 2006 Kola Licences Agreed is the best for the potential of, and some prior drilling results, in the 3 exploration areas EUA bought into. There weren't any inferred resource figures mentioned and I have never found any.
Looking through my notes I did find this post from when the price was at 37.85p, after the tracker funds started having to buy in, anyone of the ramping crew want to own up to posting this.
This is not rampy and is factual.
Incoming Herculean offer in the pipeline, believe we will be trading above 50p before the offer comes in.
Institutions aren't getting involved taking large positions for a measly 20/30% profit.
Hi Sirplacealot,
I don't see myself as calling this out as a spoof as such, the area around MT has a lot of potential and EUA have resources. Montyboz and I used to have some good discussions after doing lots of research and digging up reports with me trying to calm him down and pointing out the figures for POAZ were based on P2 Russian standards etc.
I never bought into the "this will sell for billions" hype and have always tried to give reasons why pointing to the need to understand basics about levels of reporting around reserves and resources and their relative worth.
I don't like the wishy washy, say not a lot, hide the actual truth RNS's. Pre CS you used to get lots of the information you would expect and need from a mining company to understand what they have, that has almost entirely dried up now and it doesn't inspire much confidence for me. There is value here if they can sell it and the MCap has come down substantially so risk reward has moved, the question is, can they sell it, to whom and at what level.
Figures for areas from Russian sources that may not have been seen.
Nyud 220kt Cu, 188kt Ni, 6t Pt, 27t Pd.
Poaz 649kt Cu, 443kt Ni, 41t Pt, 342t Pd.
NKT 298kt Cu, 229kt Ni, 19t Pt, 55t Pd.
3 areas with little knowledge of whats there, especially Poaz which comes from very preliminary estimations. Inferred resources.
Western Nittis 12kt Cu, 9kt Ni, 2t Pt, 8t Pd.
Loipishnyun 23kt Cu, 24kt Ni, 13t Pt, 23t Pd.
Vuruchuaivench 23kt Cu, 31kt Ni, 4t Pt, 34t Pd.
3 areas that have been properly explored. Shows what happens between the high figures of inferred resource that come back to much lower figures when proven to higher levels.
Mac claims a holder of Nyud can claim Poaz. Not quite as simple as he makes out. It's a holder of a mining licence that has an automatic right to expand into flanks areas, Nyud is a long way from having a mining licence for it, you apply for one after you have booked reserves which would need far more drilling.
Hi Makeabundle,
Most people look at the $1.2b figure given in the WAI report and get a bit of wood on. The most important part of that report is on page 31 where it says the figure is based on parts of the deposit being classified as an inferred mineral resource. An inferred mineral resource is the lowest level of confidence of what is actually there due to a lack of information, principly lack of drilling and only parts of NKT achieve those low levels.
If you research and find information about all the deposit areas around MT area, many forming what was the JV with Rosgeo, you will see very impressive looking figures for what is at Nyud, Poaz and NKT, whereas the figures for Western Nittis, Loipishnyun and Vuruchuaivench don't look anything like as impressive. That's because the last 3 have been proven up to much higher levels and what was the potential of the inferred resources, as at Nyud, Poaz and NKT, have been reduced to what is actually there, not what is thought to possibly be there based on limited information.
However, even the higher levels of proof at WN, L and V still don't say how much of what is there is economical to produce, some of what is given won't be economical to mine reducing further the amounts there.
That was the point I made about reading and understanding the Maiden Resource figures for the MT area. The 1.9Moz Pd Equivalent figure given is not all within the open pits, it includes what is in the pits, some that falls outside of the pits and what is under the L pit which may be suitable for underground mining in the future. What of that figure of 1.9Moz is economicel to mine isn't revealed by the company.
If you don't understand the relevance of a inferred resource compared to a indicated or a measured resource and their relative values and confidence levels of what is in the ground then you need to.
Essentially there is a low level of confidence in the $1.2b NPV so it isn't a figure any buyer will rely on and there needs to be far more time, drilling and expense before anyone can be sure of what is there.
Hi Makeabundle,
You could explain why you are so convinced NN are going to make an offer that will smash it out of the park and how you get to the 60p you see it selling for. About time for a bit of positivity with all these negheads around.
Hope you noticed my 2 positive posts in a row, one to Del about licence fee getting cheaper and the other about the BOD being the best on AIM. Good eh?