The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
In general seems a positive RNS, 'nearly there' is the overall take from it. Obviously that means that's a red day as nothing on AIM makes sense.
Can someone who knows about mining tell me what theses spirals do that we have purchased more of?
Would have been nice to have an explanation of why aisc costs are still higher than expected. Hopefully the rainy season will continue to be calm and the ball mill can start adding value quickly. Glad to see overdraft not required. Need a chunky LOM extension to get this rolling again.
I don't know is the short answer. Obviously we own a chunk of Cora, but what rights that gives I don't know.
I'm presuming we would just buy the project off Cora once proved up. Though frankly its very difficult to know what HUM may or may not be considering doing as a strategy, as they're about as chatty as the average rock with PI's.
No its to far to haul is my understanding. Cora have another project next door to Yan, Tekeledougou that they could haul from but not Sanankoro. That's my understand anyway.
If it panned out I guess they could do both but I'm thinking of them being a 2 mine operation rather than extending the one's mine life from another source.
Obviously Yan's mine life extension we're waiting on now, from the existing resources within our existing licence.
To be honest I don't see the next steps for Hum being Dugbe. I think they should be seriously looking at taking on Sanankoro off Cora. Its relatively close by, they know the jurisdiction and the government agencies involved, they could use staff from Yan to help set it up and the same companies that built Yan to build that mine.
Why look to Dugbe which is a far more complex target when we aren't frankly competent enough. By all mean do a JV and let a bigger partner lead on Dugbe, but for Hum I don't think the BOD have the skill for that yet. Sanankoro would be a better natural progression once the resource is proved up for HUM to run. Just IMO obviously
Have we had an explanation of why they only reperforated 56 of the 195m of the well. They seem to have missed 10m at the top and a hundred meters at the bottom. Obviously part is the water zone but cant see it being both top and botton. Nor can i see it being 100 m accross, so i assumed they'd bridge it if it was in the middle rather than cut off whole bottom section. So was the other section still in good condition, so mo reperf required?
Someone posted over on CNR yesterday that International Finance Corporation was getting out of several small miners and had been dumping their stock. It mentioned Hummingbird as one of those stock maybe they've finished here as well as in CNR?
Does anyone know if the bridge got completed. It looks pretty complete a few months ago just wondering if it had been opened? I Assume it has.
I did wonder yesterday if they were just using a bridge plug as they didnt seem to have a straddle which aparentlt from alans links is used for water zones in thevmiddle of 2 oil zones. Not sure if they could use that later if that was the case to increase flows?
I thought the plan was to extract the zinc then to process whats left over for the then concentrated vanadium and lead? If they start mixing in other ore that doesn't thst effectively dilute the vanadium and lead material meaning its harder to extract. Or would they keep the feeds and tailings completely seperaye to prevent this?
Question for Alan I guess.
Thanks for the you-tube links for the Bridge plugs, very informative.
My understanding is that at the moment we don't know where the water is, i.e.In the bottom or in the middle of the perfs. That being the case do we have one of these straddle things that mention in the clip in case its in the middle of the perfs, Is this part of the standard kit?
I assume the length of the straddle would depend on the length if the water zone so are these modifiable or would this need to be manufactured ordered if required? I guess they can always just plug above the water if they didn't have straddle in the mean time but assume ideally you'd want to keep the lower perfs open and producing if the water Zone was in the middle and would therefore eventually need a straddle?
Any thoughts or am I talking out on my butt? You are allowed to Sigh!
Well personally I'm hoping they can sell it on. Then maybe buy sanankora off Cora as that seems a better prospect and in a juristiction they understand. They can also move staff/kit easily between sites if required. Would seem an easier way forward. It shaping up to be much bigger than Yan F so seems a more natural progression.