Member Info for pj70

Its interesting that the mental impact and human nature that one negative broker report had versus several that went the other way.

For me the really only new news was that AISC was holding at the lower end and that production output would be at the top end. The second development drive advanced 372m and we are 68% complete so hopefully that is done by end of FY.

My personal thoughts are that nothing has changed as i am assuming that Telfer has ore for another 10 years - something the analysts are not able to do until the market is informed and the MRE will do that. The other maybe issue is that they will be feeding the low grade ore which is 0.33 g/t and they are going to use that for FY27 mine plan feed and start it in the H2 of this year. You couple that with the lowest ore processed from the underground in a quarter and you can see why maybe some the analysts are concerned about future production output. Personally i believe in Shaun and the team as they have delivered continually to date for over 18 months to complete the deal and increase productivity on the Telfer mine site.

Key things for me now are the MRE and the grades for stage 7 which it was stated in early january RNS would feed the 27 and 28 mine plan. So we know that the low grade ore and stage 7 will most likely be the main contributors of ore feed for Telfer next FY. We know that the low grade pile is 0.33g/t - so what is the stage 7 ore going to be as the offset ?

The other unknown and q3 results for this will be important is whether they up the drilling and outputs from the MDD as circa 250k tonnes was low compared to previous quarters and i must admit i was expecting each quarter to improve in output from MDD but it missed in ore processed and grade was lower.

So still positive but now wanting the MRE to validate what we all know which is that we have a large ore body still to be processed and also to see the guidance for 26/27 FY.

Strange that you would within 24 hours raise £130m for a project that does not have approval? Begs the question whether they are aware now they have approval and that knowledge will be released to market sooner than we think. They dont need the money if Touro not being started so why now?

Another cracking RNS with 6 years and now 0.7bn used as the order book rather than specific value. Not only secures the future but the ability to buy more vessels in the short to medium term to underpin growth and long term share price. Well played!

Lets wait and see the sell off in early february when the shares go live.

Not a great RNS and lacked detail and only positive was the financials on runo but even than had AISC higher end of forecast and low end of production. A lot of risk now and can understand people selling out until la india comes online

This has left a bad taste in the mouth as only just saw this now after the 7.30pm deadline. Cant believe there was no explanation as to what the funds are for and that it was done at short notice.

Personally would prefer they keep the dividends and look to buyback shares to underpin the current SP

I bought a few more as long as platinum holds above 2000 we are earning very good money and this is undervalued.

Where is the link for the presentation as would like to listen later?

Cant see why we would be significantly different to Q1 as we had higher ounce output and capex etc is not part of the AISC. So for me 2200-2400 range for q2

Surely this is positive?

Pickedpeck - agree with your thoughts. Endeavour main mine in senegal is 20 miles from Douta as a heads up. They will want to expand the resource there this year to 2-3m ozs in my opinion to get Endeavour interested.

Tyler agree - low dividend but good growth and one of those double digit a year stories for a few years to come

Tyler the only way they can get to double EBITDA in 5 years is through acquisition OR organic growth which means expanding the fleet. I do not have any issue with them borrowing against the current order book as they are closer to the coal face of what is happening around rental of fleet than any investor is. They have rebuilt a broken company in the past 3 years and got debt to under 200m with the latest acquisition.

Each boat ballpark gives circa 8musd EBITDA or free cashflow so one would assume another 8-10 boats more in the next 2-3 years to get to the 200m EBITDA 2030 plan number.

What is expected with this rebalance? any thoughts or opinions?

Loudspeaker 100% - it is why i am was not overly enamoured by the PFS. Yes it gives a second mine and thats great but the current producer and lower AISC and what the market wants to see is Seligola and that can be extended for 5,10 or more years and that is all i am currently interested in - not something 2-3 years away for production - thats great there is a growth strategy but better for the current producing asset with the current gold price where it is at. Yes everyone can presume that we have a gold price that is here for good etc etc but the reality is they thought that in 1980 as well when it peaked at 850. The gold price between 1979 and 1982 stayed above $400 and then took till 2003 to get back above $400 on a consistent basis outside of a 1987/88 stockmarket crash that saw 2 years of above $400 an oz.

Moral to my story is make the money while you can when price is high and that is Seligola as then we will be well placed if gold then drops back to 3500 an oz or lower. Hoepfully not, but history tends to repeat itself as human nature has been the same for thousands of years!

Element - i would agree that we will see a step change to guidance and to the upside for both this year and certainly for the 26/27 year and this is not because of anything known but just logic would dictate. If we were able to produce 86k ozs in 8 weeks for Q2 then Q3/Q4 should be better than the low end guidance of 50k a qtr to get to 260k oz. One would assume 300k oz is baseline for the FY.

Then for 26/27 i think we will see an uplift on 25/26 based on more underground being brought to surface at higher grade and that stage 7 grades being slightly higher than 0.5g/t. That g/t for stage 7 in the MRE is something i will be closely watching as if it is 0.6g/t or above then 350k oz + will be on the cards for 26/27 in my opinion.

Lets hope we get some sort of operational update soon as the compressor would be installed now and not sure how long commissioning takes?

Something is definitely up as we have had 3-4 trading days of 20% plus and above average volumes

Yes i agree there is no gap but to become a 2 mine operation just derisks to an extent and looking forward to hearing the news on Seligola.