Member Info for Pecten11

So they've cleared the obligation to RKH in one go and apparently got institutional investors on board instead, who are likely to hold for longer than RKH would have done as they needed the cash.

Got to be positive

Hopefully , in a few days, will mean some TR1s to identify who the institutional are

You may be right re the SP movement but then you bang your head against Sandy's argument re the Atlas .24 price, so any gain above that would just be sold into?

Starvest, it's fantastic that first concentrate is on the horizon and I know some of the details will obviously be contractually sensitive, but not knowing more about the Mercuria offtake deal creates doubts for me as we cant model profitability.
On that subject, do you know if AL group take their 20% share of revenue/profit, or do they just gain in the capital value of the asset when production is proven?

Starvest was ' whether some one wants to put the brakes on or not' a dig at me?
All I've done is try and put some numbers together re BP and asked if anyone knows better to contribute.

Btw, from having a dig around the TCs/RCs cost is probably only around $80 per tonne, which is less than I thought, but still don't know what %of the copper cathode price Mercuria will pay

Good thinking Hubenstein- sounds plausible. Would have also stopped them being dumped into the market

So much for making a market!

Slipanchor - 133 nanometers! Give the captain a rise!!

Lol

So a little clearer maybe, but still need to know whether the gold/silver credits outweigh the TCs/RCs cost

DrAim, no problem - we are in the same position re trying to work from a less than complete dataset

Yamsel, thanks, relistened to the pod and must have missed AP saying that basically the first 3-4 months worth of sales (using one of the flotation tanks) will mean VAST 'wipes its face', I.e. income will cover company costs, but when the second tank is online, the company should start making a profit

Which makes me wonder how much the company will be costing to run in production - including board salaries, mine/processing staff wages, chemical reagents and utilities?
So, I'm speculating with this, so anyone better informed please chip in -

150 tonnes(Craig H) of concentrate at 35%(guess) - copper at $6500 = 340k per month revenue (this needs to be adjusted up for the gold and silver credits, but adjusted down as Mercuria wont be paying the copper cathode price, as they will charge for treatment charges (TCs) and refining charges (RCs).

TCs and RCs from Wikipedia
Copper concentrates produced by mines are sold to smelters and refiners who treat the ore and refine the copper and charge for this service via treatment charges (TCs) and refining charges (RCs). The global copper concentrate market [35]was valued at US$ 81 Billion in 2019 and is projected to reach US$ 93 Billion by 2027 expanding at a CAGR of 2.5%. The TCs are charged in US$ per tonne of concentrate treated and RCs are charged in cents per pound treated, denominated in US dollars, with benchmark prices set annually by major Japanese smelters. The customer in this case can be a smelter, who on-sells blister copper ingots to a refiner, or a smelter-refiner which is vertically integrated.

The typical contract for a miner is denominated against the London Metal Exchange price, minus the TC-RCs and any applicable penalties or credits. Penalties may be assessed against copper concentrates according to the level of deleterious elements such as arsenic, bismuth, lead or tungsten. Because a large portion of copper sulfide ore bodies contain silver or gold in appreciable amounts, a credit can be paid to the miner for these metals if their concentration within the concentrate is above a certain amount. Usually the refiner or smelter charges the miner a fee based on the concentration; a typical contract will specify that a credit is due for every ounce of the metal in the concentrate above a certain concentration; below that, if it is recovered, the smelter will keep the metal and sell it to defray costs.

Copper concentrate is traded either via spot contracts or under long term contracts as an intermediate product in its own right. Often the smelter sells the copper metal itself on behalf of the miner. The miner is paid the price at the time that the smelter-refiner makes the sale, not at the price on the date of delivery of the concentrate. Under a Quotational Pricing system, the price is agreed to be at a fixed date in the future, typically 90 days from time of delivery t

Happy investor (yeah right), you posted yesterday 'I own BP, RDS and Exxon'

Notice the lack of HUR there - so no surprise that your pearls of optimism will be treated with the contempt they deserve.

Happy investor (yeah right), you posted yesterday 'I own BP, RDS and Exxon'

Notice the lack of HUR there - so no surprise that your pearls of optimism will be treated with the contempt they deserve.

FaHP, have you moved into thread view, instead of message view?

Grade 1 eyeball?

Mark 1 eyeball - doh!

Thank you Pisces for grade 1 eyeball info

Shows the muppets who have been talking down Hur will try to drown out actual info

DrAim, think you may need to change your medication!

Where on earth did you get the idea that VAST planned 'initial 7000 tonnes per month sales'?

If you listen to Craig's interview on Vox, they hope to produce 150 tonnes of Cu concentrate (with gold and silver credits) in month 1, working towards 600 tonnes of concentrate (he didn't give a timescale for this, but the SP Angel note suggested full production in 24 months), likley in main from the chalcopyrite(Baita's most prevalent copper mineral)

This would be followed a month later by 50 tonnes of Zinc concentrate ( working towards 150 tonnes)
No timescale was given for the additions of lead, bismuth, tungsten or molybdenum

Remember that's concentrate, not copper metal - probably, as suggested by the met work RNS of around 35%
They may be able to improve that further with the addition of a secondary grind mill to liberate more copper from the chalcocite

Morning Daltry, PPS is in a very interesting sector and the market does value things forward, but imo, the mcap has got way ahead of reality based on the half year reports and the 'interesting' family structure.
Well done you for being in at the right time, but I wouldn't be encouraging people moving in at the current price

Over £750,000 of PDMR shares purchases in total declared over the last two days

By any listed companies standard, that's a pretty convincing indication of confidence

£71885 share purchase by non-exec director. Well done Mr Clarkson

https://www.londonstockexchange.com/news-article/SAVE/director-pdmr-shareholding/14666347

Zengas, or one of the other quality posters here (as you undoubtedly know more than I), which specific assets is the non-recourse debt (97% of all debt) secured against?
And if I understand correctly - as the debt is non-recourse I.e. solely secured against an asset, then any cash held in SAVE is secure?

£870m gross assets v current mcap of £91m. Even with FY 19 debt of £367M suggests huge valuation gap should close

From the SAVE presentation - FY 2019 closing gross assets of US$1,145.0m