Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
sinterklaas - good posts, thank you.
i was looking for the dfs but it appears we won't have it but we have the development study instead. so depending on what is felt then development and production shouldn't be that far off?
"the development study has confirmed the potential economic viability of the han**** iron ore project. whilst this is not a definite feasibility study ("dfs") the costs and other inputs are broadly to a dfs level (excluding any assumptions relating to inferred resource). once a project funding partner is identified and terms agreed, the company and such partner will consider whether a formal dfs is required at that stage. ioca is now progressing development works towards the requirements for a final investment decision (fid). "
so i guess it's the funding partner news that we are waiting for - finance bonds? previous post mentions andrew forrest - we thinking he might be looking for this one (as he isn't one of the major ones) or gina rinehart or robert friedland? speculation at this point of course. dont want to do that. for me depends if this development study is enough. thoughts/opinions?
LewisW - Yes I think it will at some point but I think 13th Dec RNS or at least news stated mid-2024 for commercial quantities (20 then up to 100 tonnes/year)? But since 12th Dec it will still be processing material at the Tyseley Energy Park in Birmingham - probably by the remaining equipment/infrastructure has been commissioned by now 'in coming weeks'?
I guess it depends on how fast it will be producing, what the income is from the finished magnets, and if, hopefully, they also get paid to take the scrap (do we know or if we pay for the scrap? I would have thought we get paid).
From RNS 12 Dec:
"Strong interest for recycled magnets from potential customers and for recycling solutions from original equipment manufacturers ("OEMs"), and automotive and recycling companies"
This sort of sounds like we also get paid for recycling "for recycling solutions from" usually you pay for these solutions. Which I assume we can stockpile and so accumulate cash already(?) Do we know profit margin on these magnets?
Looks like the funds (if July 23 interview is still correct 12m of funds so funds until July 24 (end H1 24) ) are there until the plant is running at commercial scales (initially 20 tonnes/year (1.7t/month) then increasing 100 tonnes/year (8.3t/month) in subsequent months - for me that means within 2024 we move to 8.3t/month volumes).
Guess need clarity on that - and for worldwide raw material prices to stop dropping on Chinese downturn (do we know how the Chinese quant easing is going to affect things?)
Ah yes it's more what's the split and how much will COTEC put in for them and how much do we need and what other funds will be available. had a spreadsheet somewhere might need to update it.
good weekend all
I mean end of the year even assuming outlays are the same as during the DFS and acquisition periods. Likely longer. Not an issue at this point imo.
anyway, back to observing
Waiit! sorry -1 quarter as from sep 30 so 4.9->3.8 (max 1.1m USD/quarter as lots of that was DFS and acquisition in 2023), halfway through a quarter as well so estimated cash about 3.25m USD so until end of 2024 then.
who was saying end of Q1?
So taking from from the Interims of 30th September (quarterly,, so this has 9 months of info for 2023 in it): (confusing as for the DFS they use US$, then they also use £, then € but they also just use $.
$2,279,766 cash position (at 30sep23)
9 month loss $3,913,435 (01jan23-30sep23)
of which last 3 quarters $1,548,355 mainly as a result of the HyProMag and HyProMag Germany costs being consolidated post the HyProMag Acquisition (one off).
DFS done so much reduced expenditure on Songwe.
Maginito had agreed to provide a €2.5 million German Convertible Loan to HyProMag
Germany which will, if converted, result in Maginito holding, a direct and indirect interest of 90% in HyProMag Germany. At 30 September 2023, this facility had not been drawn down.
So at the moment ok with the loan 2.5m EUR (2.5EUR/=2.7m USD) and cash 2.2m USD and losses about 1.1m/quarter and 4.9m USD about 4-5 quarters? so end of H1 2025?
Anyone else get this as well?
Wents' i disagee' i mean'' it's always' s'omething' that' gets people's' 'backs up. lack' 'of any'form of sensible keyboard use for one ,,, ''' , ', ', ','
In addition it does. Sentimant from online forums and X etc can be used to identify opportunities.
Not sure - low liquidity - couldn't buy £7 for half of early afternoon so something was going to give. But still, significantly higher than we were yesterday morning and hopefully another day closer to our desired outcome.
LWHL - ok, thanks for responding. will look into it a bit more (only a small holding). gla
Just checking in - anyone know why we went from 8.5p to 6.5p? Mining Agreement delays?
COTEC and Maginito are looking good. Do we know progress of facilities in DE/UK/US?
Haha yeah. First it was Exploration. then mainly exploration. then a bit of mining and exploration now stopped to sell assets. Until it's forced toI dont see sale of concentrate as a big priority as you can just roll it up in the sale / carrot / easier to define the liquidity event everyone talks about.
Whats good about UFO is that it's in Australia and not africa so we don't have to deal with the cyclical nature of african mining and the complexities that come with it.
Does anyone know the status of the ESG credentials?
Mr Wolfe
are you about to think at all? We did cover it. Here we go again:
1) they are not FORCED to sell it, so they can also sit on it and wait for the metal prices to increase (let's review that statement in 2 years but I assume sold by then... lol)
2) They are looking for sellers last time we were informed but dont need to be in a rush imo (see 1)
3) The main issue was the tax and vat. tax was payable on mining. up until December 2023 the tax was paid, and at the higher rate until judgement said it should be at the lower rate (hence rebates) so no point in mining when no offtake agreement and concentrate not sold.
4) a lot of work goes into a sale of concentrate - so ask yourself, would you want to do that as a one off, or would you want to do that as an offtake agreement for a working (producing) mine on an ongoing basis? I wouldn't bother if we are not mining (due to high tax, now lower - and hiring so perhaps mining will start up again in the spring). Maybe we will hear something about this.
Are you sure you're invested? Do you know anything about mining? Or business? might be worth doing a course or something
Agreed. 100% there is no correlation ata all between SP and asset price unless something had been leaked. What is good about EUA is it is a tight ship so pretty sure the only time the whole market knows is when the RNS comes through. Obviously I am in the when not 'if' side of the argument.
GLA
No it's more the data it references says taken during 2020. Unless that is wrong.
"Data were collected using semi-structured interviews undertaken between January and November 2020."
But that doesn't detract from the fact that even then the nurses were backing this 100%
Mikey - yeah. information is out there. in the mean time going to be traded to hell and back. bit of a high average so usually a small low top up for me. but like having my conviction measured with a higher SP! still, higher than it was yesterday morning so i am not complaining.