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Indeed, I am grateful.
It has occurred to me that as I advance through my seventies with all the many ailments that age afflicts upon us, that it is extremely dangerous to be alive. I think that Matt's shared memory confirms that view!!
BF and CAP - Thank you both for your comments. The process is understood and I accept there will be numerous core samples taken at various intervals, at various times, for various purposes. But it is always the case that no matter how diligent and thorough the sampling, as CAP points out, there is always a possibility that there may be a variance, be it positive or negative. This is why I say that a shorter commissioning period leading to the real evaluation of production results will be advantageous. I feel sure we are each saying the same thing, just expressing our comments differently. And I should add, you have both been extremely helpful. Many thanks.
Cap - Many thanks for your insight. That the commissioning is comparatively more immediate rather than a drawn out affair should also make for the confirmation of the successful commissioning more immediate, provided that all goes well. I would have thought that the dredging conditions and grades would have been well assessed in advance. But, I suppose, sampling is one thing whereas proving such through an extended production/processing run is another. I am fairly confident that all will go well, although to hold shares here I must be an optimist at heart!! I am truly looking forward to the results and consequences. It has been a long haul.
BF - Thank you for coming back. I was wondering whether or not any of the analysts had put pen to paper after their visit and I had missed their comments.
On the commissioning, do you know whether or not it will be a phased ramping up in volume throughput terms or a simple throw of the "on/off" switch?
Has anybody seen/received any reports of the effectiveness of these two events which took place in the last 10 days? Has any analyst reported?
Cap - We have to assume that the market has now realised the growth potential of this company and the returns which should arise once the move and the expansion is complete. Certainly now is not the time to sell even if one arrives in profit. The future rewards over the next two plus years should be substantial and heaven knows, we have seen some hard and difficult times over the past 6 1/2 years. I shall be disappointed if the current uptick is just a blip. I have the faith!!
Cap - I wish I was in your gang!! I have a little way to go, but it is getting closer!
Buck, and there I was thinking Inland Revenue, Irish Republic or Illuka!! Silly me? (Do not respond) Many thanks. I am now able to make sense of your comments. I look forward to hearing their comments, but I think that the confusion will hopefully be explained by the explanation that in some instances when referring to CE reference is made to the total capital cost expended on the projects over a number of years, and in other instances the reference is to the expenditure arising within a limited annual period. At least that is my guess as otherwise there would have been, or should have been, fuller disclosure.
Buck, for the benefit of this ignoramus, what does the abbreviation "IR" represent? Many thanks. Just trying to make sense of the discussion.
All looks very encouraging. Corner definitely turned! Now for profits. I am looking forward to seeing the FY results which should also be confirmatory of the turn around.
Merry Christmas to all on here. Thank you for keeping me informed (and amused on occasions). The latest uptick in the sp is a most welcome Christmas present. Let us hope it continues throughout 2020. Good luck to all for 2020 and have a healthy one!
"Managed cash flow" is not a cash flow out of control. Your pessimism is undeserved.
Profitbagger - I am not moved to post comment unless there is a purpose or object. I read your latest post and was going to let it pass as personalised comment. Then I realised that I did not a clue to whom your comment was addressed. If you are going to criticise this individual or another, please have the decency to give others an insight into the person against whom your criticisms are directed. I would also suggest that unless you have something pertinent to say, you might be better advised to consider whether or not your comments are worthy of publication in any case.
Sorry Buck, but did you mean to say "halve" rather than "half(+) the yield"? Irrespective, I agree that the proposed capex is perfectly affordable and still surplus cash to fulfil maintain the promises with regard to dividend 2019 / 2022.
Greeno - interesting piece of reporting, and extremely relevant to KMR. Are you able to reveal your sources? If it is your own work, excellent. Reading your report made me feel as if I was back on the Board and reading a board paper! Thank you.
Looks as if the storm has passed Moma by. Only thundery rain with slight breezes. Let us hope for the local peoples sake that this is the last of the exceptional weather.
One has to feel for the people of north Mozambique, especially the poor people in Pemba and surrounding districts. However, the storm surge is forecast up to 4 meters high south of Pemba. That may be a problem.
"Tempue est pecunia"! All correspondents addressing each other in a civil ised manner, thought I was reading the wrong Board!! But it is a welcome change and long may it continue.
I am looking for H2 and the annual financial results announcement. Is that due early next week?
In the paragraphs included in the Q3 Production Report, the stated dividend policy is stated to return a minimum (note "minimum")of 20% of Profit After Tax. That seems pretty clear. However, the following paragraph comments "In the light of the capital required for development projects.....the Company expects to pay modest (note "modest") dividends during the next two years".
Is there any clarification of the meaning of these comments?
Is it the intention that the dividends of 2019 and 2002 will be modestly above the 20% minimum or modestly below the minimum?