Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
Fsj, thank you for the reasoned response, the first one anybody on here has bothered to make. And apologies if my responses to the downright insults was not to your pleasure. Anyway my original points have digressed somewhat. These were: 1) Treat everything PR people say with a pinch of salt. 2) They are understating the severity of the security incident. I still firmly believe this. Maybe ask this guy to send you back to site again, so you can confirm everything is going swimmingly. I'd be interested to hear his response. And do you seriously call this guy up every time someone shares a different opinion on an internet forum???
Thanks a lot for that If there's no dilution I'm happy enough. I will happily help to boost their sales. Anyone know what ales they have? Looks like Volcanic aren't going anywhere with the Mandiana project. Problems with local partner and share price has tanked. Happy enough to move on.
And you are changing your mind again. Your initial posts (and tweet) state they they are going to commence MINING in October. Now you have changed that to start mining before and process in October. Make your mind up please. And the reason they stockpiled at the start is to make sure there is something to put in the plant once it was commissioned. Why on earth would you stockpile (other than standard ROM) if you already have a functioning plant? And of course they only have so many machines, so if they are mining in one place they aren't mining in the other, which again makes your stockpiling notion completely daft.
You don't know what you are talking about. Grade control is never done 4 months in advance. When they do announce that they are mining this area ahead of schedule you are all going to look rather foolish. It's getting a bit boring trying to talk about mining with people who know nothing about it.
Showing your naivety yet again I'm afraid. Why on earth would they be doing grade control drilling if they are only going to mine in October? Grade control immediately precedes mining. Which suggests to me that they are mining that area ahead of schedule. And if they are mining ahead of schedule then they have changed the mine plan. And if they have changed the mine plan already then what was wrong with the original plan? Just something to consider.
The only point I'm trying to make is that things are more complicated than what the company are telling you. That's just the way of the world. I suspect that the same endless gushy, brainwashed, rose tinted drivel which is posted on here by a few people every single day has driven more people from these boards than a couple of people expressing a different opinion.
If, of course, production is running smoothly. My concern at the minute is that the security "incident" is being understated. As for those who visited the mine, great. But I know from experience that analyst visits are the absolute worst time to get a true reflection of what is going on. I've seen it from both sides, as a visitor to sites with investors and as someone who has prepared sites for visits. Trust me, everything is set up to be absolutely squeaky clean and you see exactly what they want you to. Same goes for contact with the company, that's great, but again what do you expect them to tell you? Have we seen any reports from the analysts who visited site, rather than someone who has been to one gold mine in their life? Cynical? Perhaps. Realistic, definitely. Mining projects are never as straightforward as companies would have you believe. And DYOR means digging a little deeper than simply following company spin. Single project companies always carry inherent risk. Elections coming up in Mali shortly, will the govt flex their muscles on ownership after that? There are always takeover possibilities. And now security issues on the ground. I hope it does come right and, I like the management of the company, a breath of fresh air on AIM. But still a long way to go.
Stpeter So how much do we get for our SMA shares? I couldn't understand that document!! Rather disappointed that a company with a 600,000oz gold resource has morphed into a company with 3 pubs...
I'd just like to see a map! I'm not a big fan of Sanakoro. I suspect it's a lot of narrow things and that continuity isn't as good as it appears. And it has already been drilled by at least 2 companies who walked away. I like Cora, but i just get a bit peed off with this constant drivel about "discoveries", which they aren't, and "remarkable", which they aren't. Yet. Drill some more holes and show me a map! Don't forget, current resource = ZERO
At what grade is it continuous? I'd like to see a map. The latest RNS shows only two holes with any decent grades and widths, the rest are nothing special at all. Nice spin, but when I hear people use words like "remarkable" (which this isn't) I become rather cautious.
Changes to DRC mining code is the reason.
You can't make a purse out of a sow's ear. The facts are that their projects are rubbish. Spin and bluster cannot sustain a company for ever. But some individuals made good money out of it.
The size of the resource is irrelevant if it can't be mined profitably. No value will be attached to it until a full DFS is published showing that it can be mined economically. It will need huge capex up front (that HUM don't have) and the grades are low. I don't know about recoveries. It's in a remote location as well so not straightforward. If they get a partner in that would be great. But they will have to do full due diligence, which can take time.
I suspect if it was a Malian National Guard then there would have been a lot more than two others killed. Most of the local miners in this area are Malian and they regularly have "issues", though usually with the Guineans across the river... https://af.reuters.com/article/topNews/idAFKBN1DS1KS-OZATP