focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
Thanks Laverda
When you say, initially the plan was to monetise, you mean to develop, mine and sell the gold extracted? Why would they opt to sell now that we have the funds to develop the mine?
I honestly dont know, I am asking to learn. Thanks!
Great day for all KODAL holders here - well done!
Quick questions: apart from the $17.75mil that will go into KODAL PLC's accounts from Hainan acquiring KODAL PLC shares, we will also receive $5.66mil from KMUK right? as a repayment for all the work KODAL PLC has done so far for the Bougouni project right? Do we know at what point this will be deposited into KODAL PLC's accounts? before or after 30 April? I presume the $5.66mil will also go to gold exploration?
The extract from the 19.1 RNS:
'The Hainan Group will at the same time extend a US$5.66 million (£4.6 million) loan to KMUK (the "KMUK Loan").
· The proceeds from the KMUK Loan will be used by KMUK to partially repay to Kodal the loan from Kodal to KMUK representing capital invested by Kodal in the development of Bougouni to date.'
Hi Clapa,
I am asking because I am ignorant on this matter: does KODAL have to put out an RNS when they receive the 7mil in the escrow account? I am mindful that if it is not an AIM requirement, then this RNS may never come, even though the funds may have already been received. I keep checking for an RNS and I dont want to be disappointed! :)
Thanks
I am heavily invested in this, had bought some in the pandemic and have been averaging down (whenever I could) in the past (painful year). Average 17.5
Thinking where the share price can go from here, in my humble opinion, it all comes down to profit at the end of the day. I tried to work with the PE, but I think that gives too much of a conservative outcome. A conservative PE ratio in retail is probably 8-10; NEXT has almost 12. Assuming a PE of 10 for ASOS, for every £50mil pounds profit it turns annually, this would translate to £5 in the share price (around 100 million circulating shares). So if some of those 300mil trimmings turn into 100mil profit at the end of the year this would mean a SP of £10. For 200mil it would mean £20. But then again when they reported £190 million profit in the pandemic, the SP was >60!
I think £20 is realistic if they report 50-150million profit after the cost cutting has been fully implemented. Maybe by H1 2024
ShoreCap scaremongering about Black Friday sales for ASOS
https://www.proactiveinvestors.co.uk/companies/news/1000116/asos-cfo-departure-another-jump-off-a-sinking-ship-1000116.html
The November ASOS web traffic look quite robust to me
https://www.similarweb.com/website/asos.com/#traffic
Bring it on ASOS shorters
It was never under 7%. LSE was showing 6.66% because (for reasons I dont understand) it was not including Squarepoint's 0.5% short last week. Squarepoint increased to 0.52% and hence now included in sum and so went from 6.66% to 7.18%. In reality it went from 7.16% to 7.18%
This is still a buy for me at the levels. All in my opinion of course
GLA
I didnt realise that the S.Koreans and Samsung giant in particular were so keen on developing SMRs themselves. I havent come across this as a competition issue for RR.
Any thoughts or insight from anybody who might know more?
Thanks
https://asia.nikkei.com/Business/Energy/South-Korea-bets-big-on-small-reactors-in-return-to-nuclear
With regards to the grades of LiO2 – again I looked at what the Goulamina initial FS showed and their updated values now
2018 indicated LiO2% was 1.48% and inferred 1.21%
In 2021 in their update, they say reserves at 1.51% LiO2 – so more close to indicated than inferred
Our indicated (1.13%) and inferred (1.08%) grades at Bougouni are lower – so perhaps we are more conservative and may be another pleasant surprise
Overall, when I looked at serial feasibility studies from Goulamina – the metrics gradually improved – I suspect this will be the case with Bougouni mine as well
A perfect, thanks Pineapple for bringing this to my attention
I looked at the RNS from January 2020 which you posted and it has the 1.94Mt concentrate quantity. It also shows the total estimated ore reserve at 16Mt, whereas the RNS that I posted from a later date from May 2020, shows the ore reserve estimation to have increased to 21.3Mt - so I think (I am hoping rather), that my calculations still stand somewhat
Any thoughts?
This is the Kodal RNS from 2020 talking about the 83% metallourgical recovery and 21.3Mt ore reserve
Ilyas, not sure where ghoti got his/her 1.94Mt value of the 2020 feasibility study
https://www.rns-pdf.londonstockexchange.com/rns/4554M_1-2020-5-11.pdf
Great stuff
I have been doing some more research into this and have good reason to believe that Kodal's Bougouni mine project will be more lucrative/valuable than the initial feasibility study suggested. I looked at some of the key metrics of the nearby Goulamina Lithium project (ran by Firefinch Ltd, Australian-based); likely that the purity of the spod in both mines is similar as geologically they are in the same area.
- Goulamina covers 100Km2 and Bougouni covers 450Km2
- Goulamina total ore reserve 31.2Mt and Bougouni total ore reserve is (indicated and inferred) 21Mt ***only from 3 out of 8 prospects sampled from the 450Km2 area*** - so possible that total ore reserve in Bougouni is around 35-40Mt
- Metallourgical recovery at Goulamina is 70% (how efficently the extract lithium oxide from the ore) and Bougouni is 83%
- Firefinch entered 50:50 JV agreement in June 2021 with Ganfeng who will plow USD194mil, putting value of Goulamina mine at UDS388mil, with spot spod prices at the time ~600 USD/Mt
- So a rough guesstimation would put value of Bougouni mine (once DFS confirms and opinion matures :) ) at USD500mil - THIS IS WITHOUT TAKING INTO ACCOUNT THE 400% increase in spot price of 6% spod
USD500mil (GBP360mil) is x9 of current market cap - not taking into account gold mine
Thanks Ilyas, I am a small investor in here and have been learning loads from all your posts - average at the moment is 0.38 so waiting for RNS on PFS
Quick question on your calculations - you made an assumption on the quantity of lithium ore in the mine I presume right? what Mt?
Thanks!
Newby12
Posts: 9
Price: 120.70
No Opinion
RE: moose2010 post from yesterdayToday 16:35
I am a LTH and am enjoying your bipolar posts the most! hahahah
Good luck to all true LTH
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My post here was of course intended of Moose2010