Member Info for Professor1

4kandles

If you want to tell a story on BB here, please lay out the full facts. The reason why in 2023 they did poor is because - see below statement from the company:

"The production result was lower than plan due to extensive rain events and water-related geotechnical pit access restrictions, resulting in the processing of lowgrade stockpiles. Significant water management activities were undertaken during FY23 to enable full mining activities whenever possible, including commissioning over 30 evaporators and two temporary reverse osmosis plants, as well as liaising with state regulators on controlled water releases. Operating mine cash flow was $28.1 million, sustaining capital was $5.1 million and major capital was $13.4 million".

Check this out on Evolution mining. It has a market cap of Aus$6.798 Billion with current share price of Aus$3.70. At one of its four mines in Australia called Mt Rawdon (open pit), it has so far produced (since 2011) nearly 2m ounces.

At this mine:

It's Mineral Resources are at a mere 0.52 g/t

Its Ore Reserves are at a mere 0.61g/t

This will give people some peace of mind when it comes to looking at grades. It's the size in tonnage terms that will matter at the end of the day. Red Setter has been compared to Telfer!!

GLA

You are only talking about ONE possibility. There is equally a chance that there are delays for whatever reason OR indeed a chance that he has the results and these are so good that he is planning on something big before announcing. We will just have to have patience

ChartaRex

My thinking is completely opposite. Ask why would the seller agree to accept the price in shares if the Red Setter results were for argument sake going to half his Return on disposal of those shares. As far as I understand, the price agreed will be binding.

I think this latest deal is going to be significantly beneficial for both parties but I could be wrong.

Sorry 'on'

Spot in MP

I wonder if the seller is thinking he/she can eventually sell his shares at 10x what he/ she has been paid at?

This seems to me as a very timely acquisition with the seller agreeing to be paid in shares and so close to the drill announcement we are waiting for.

I think the drill results are going to be spectacular.

Will do the talking and will get noticed by the big players

Excellent news

And a further 142k as feeling good at the prospects here

Dipped the toe in with 402k shares

The lithium price LiCO3 as at 11 October was $22,950 per Tonne. Benchmark's latest global weighted average price is $27,177 per Tonne. Where are you getting $10,000 for 200 Tonnes????

Indeed it does Deck

My top ups still not showing up

Just done two top ups - 50k and 55k, both at 5.25p. Had to break it down as could not do all in one go

My reading from the below passage from the RNS is that there will be another RNS soon about the quantum and the notice to the Indian govt will include that quantum - it will be public knowledge.

I think there is a good reason why PAT has not already RNSd that quantum.

"while at this stage the Company is not able to make any comments in relation to the potential quantum of damages that IGPL will claim from India, the Company will in due course, announce the actual quantum of damages that IGPL will claim from India when available".

No worries at all Dan

In fact, I am waiting for the West African portfolio to show positive results as they all seem promising assets.

Indeed these are my views only and are NOT put forward with a view to influencing anyone. People should do their own research.

hi mickey

in considering whether to go for the 1. market value based approach or 2. income based approach which i have copied below, my preference would be the latter.

in the teyhan against ****stan government , the compensation of some $5.8 billion was based on the income approach discounting the anticipated future cash flows to present value - the estimated resourse was known based on drill results. same with pat, 6.7 million ounces made public of which 1.7m jorc compliant.

my take is that the claim amount will be in the region of $2 billion i.e. "quantify the amount of compensation required by the “full reparation” principle, on the basis that this principle requires a tribunal to determine the financial position a foreign investor would be in if the investment treaty had not been breached".

the market should then reflect a probability of say 10 % of the claim amount.

my thinking is that the indian govt will come out with an offer of settlement as i believe they will be told in the notice of the likely amount of damages to be pressed against them in an international tribunal. i don't think they will risk going to the tribunal. so how much would mb consider as acceptable amount of settlement. on the basis that we have been robbed of a tier 1 mine with a potential of 10 million ounces or even more, my guess would be not less than 500m.

gla