Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
I thought the opposite. It would have been bullish for the share price if shareholders had voted down the resolutions. Now there is nothing to stop Diversified and Riverfort forward selling shares into the market and announcing conversions at a lower share price
I was hoping the share price would push on today but there seems to be lots of selling in the background possibly by the 2 death spiral finance providers. It will be interesting to see how many shares are issued next week after the shareholder meeting on Monday. The finance providers are able to have shares issued around the lows at 11 or 12p and sell into the market for a 100% profit at present.
The share price was trading around 0.6p towards the end of last year during when there were meetings in DRC regarding the arbitration. Now we know the arbitration decision has been made in RRR's favour and just needs signing plus the company is about to start selling lithium
Today's rise was just about the start of the income stream from lithium production.
The interview was only released just before the market close so there should be big demand for shares tomorrow as it looks like the arbitration case is finally being settled in RRR's favour
Blimey, it sounds like it's all coming together at the same time.
Mr Bell said annual earnings from the lithium alone could be as much as the current market cap of the company.
And as if that wasn't enough, he revealed that there was an important meeting in DRC today and everything seems to be going the company's way and he hopes to be able to release very good news on that shortly. Looks like the company will finally receive the $15million it is owed and then it can move on to make a further claim for loss of a very valuable asset
I'd expect a steep discount on any sale as it's a bad time to offload them as it will be considered a distressed sale. From the annual report:
"While our Egyptian assets continue to produce, at present Egypt is a challenging operating environment for energy companies with sharp devaluation in the value of the currency, which has impacted the dollar value of the cash we hold there, and severe limitations on our ability to transfer funds out of the country due to capital controls."
Looks like Colin is trying to pump up the share price before a placing. We know one is coming after the annual report was released:
"An operating loss is expected in the year subsequent to the date of these accounts and as a result the Company will need to raise funding to provide additional working capital to finance its ongoing activities. The management team has successfully raised funding for exploration projects in the past, but there is no guarantee that adequate funds will be available when needed in the future."
The feasibility study is based on a very high grade area of the deposit containing 27.6 million tonnes at 22.3% titanium, 0.57% vanadium and 43.7% iron ore. Presumably the lower grade areas of the deposit are not thought economic to mine at present
I had a good read of the PFS for the Barrambie project. It is based on a titanium grade of 22.3% with 0.57% vanadium and 43.7% iron ore so not very comparable with Pitfield based on the drilling results. I think given what Shaun Bunn has said in the interviews the focus is still very much on finding a copper deposit at Pitfield. If he really thought the company had just discovered a large titanium deposit that would be commercial to extract then I think the focus would have switched to that.
Hopefully he will get what he is looking for in the next drilling campaign!
Thanks for posting the link to this scoping study.
This project looks very high grade. Most of the revenue comes from the rare earth and Zircon, with the titanium (rutile and ilmenite) only accounting for 28% of the revenues. Also the titanium is around 33% contained in the ilmenite and rutile so much higher grade than at Pitfield.
Bedhead - great to see someone actually doing some research 👍
Please share the research with us that indicates the Titanium dioxide at Pitfield looks to be of massive commercial value.
How do you think production costs of TiO2 in a hard rock deposit like Pitfield compare to TiO2 produced via soft mineral sands projects?
How do the TiO2 grades compare to other ilmenite producers?