Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Not the article I wanted to post. I will look for it. I read an article about junior iron ore miners halting mining due to the shipping costs on mining.com and it was a lot higher than your graph suggests and as much as I've read the buyer doesn't pay shipping but could be wrong.
I thought it cost alien $60 per ton to mine the iron and believe it costs $50 a ton to ship it at the moment so any price under $110 makes it unfeasible. If JP Morgan controls the price of silver and they are predicting $20 silver next year I'm guessing silver will be $20. EH/Munni Munni pure speculation.
4.5/10 in my opinion is way too high. He is supposed to be bringing multiple assets up the value curve to provide value for share holders.
Nothing has happened in Greenland.
Mexico has gone backwards even though they have been paying a full time geologist and are renting a shed for equipment.
Han**** he has done well at and Elizabeth hills he did one round of drilling and got no results back.
If he has the same performance over the next year. Do you think he will be able to raise money? And if he does a what percentage share dilution will it be? I personally think the company will go under on that type of performance again. 1.5/10 for me.
And the results will be ordinary at best and the share price will not move in the slightest. He did a nice little post the other day about when Chris2 had been wrong. Could you imagine if you did one for him. Would take months write and be longer than the Bible.
So the financials say that they had 3.7m in the bank as of 30/06/21. From January to June they did one round of drilling and lost a JV. Since they have done a further 2 rounds of drilling, how much do we think is in the bank now? Junior Iron ore companies are ceasing operations until further notice due to the iron ore price and it's price is predicted to be lower for the next 2 years. How easy do you think it will be to JV or get a get price for a sale under those circumstances? Elizabeth hills is a very, very long way from being a working mine, so how exactly are people thinking this will be 4p shortly? I see the SP going south and so does max that's why he didn't take me up on my bet yesterday
Fenix also have unexplored tenements, and Elizabeth hill imo at the moment is worth zero. They have released good xrf results but lest not forget they released very good xrf results from donovon 2 and during drilling found ZERO. This being said there is potential there but will take a year or two to de risk and multiple problems could possibly happen. So I just think comments like 'this is going to give life changing returns in the next 3-12 months' totally ridiculous.
Fenix have the same size resource as Alien. Fenix own a 100% of their tenement and have an Mcap of £55m. Fenix completed the prefeasibility study in November 2019 and there capex to start mining was was $11.5m. According to my calculations Alien is probably worth a little over 1p. Have no idea where these 2,3 or either 7p predictions are coming from. Can anyone inform me?
@smiller, well like I said I am just seeing a lot of similarities between the last time and now. Regardless what max11 says there were 100% large sales after the first batch of Han**** results and myself and others on here were putting it down to 'buy the rumour sell the news' that's fine but this time no one has been buying the rumour, so why sell? Unless like max111 says people trying to lower the price to buy back in but somehow I don't believe that for one second. Seems like delusion. However it could be nothing just wondering what others thought?
I have a feeling this share is going to get absolutely murdered next week. I hope I'm wrong but see a 0.45 coming. Last time we kept having big sales at the end of the day they released half the maiden Han**** drill results early to try to get some positivity out before dropping the Capstone debacle. We then dropped 1.2 - 0.9 rapidly. This time again seeing big sales and they have rushed out their own weird version of drill results before even sending to the lab, so I'm expecting something bad next week. Not sure what it could be though, Mexico license's? Placement? Worst than expected MRE? Fingers crossed I'm wrong. @Napthman no need to reply your an absolute clown.