MRK2020: well said. The closer to production, the more cackhanded and ill-informed the de-ramping gets. But we are sub-£30m m/cap and about to go into production - and, as you rightly say, not just production but profit at a huge mine. Upside vs downside is a no-brainer IMO.
RE: Jadam - the question is this. Will placings still happen when BP goes live...13 Jul 2020 11:37
Nickel: "Tbh, i don't think most shareholders would be surprised if they saw another placing here next week."
I'm never surprised by a placing. But as we're currently about 30% up on the last placing price, I struggle to see the big problem when we're going into production. You want to bang on about cash flow in month 1 of production. Fine. But I at least am quite happy thinking ahead to months 2 +.
RE: Jadam - the question is this. Will placings still happen when BP goes live...13 Jul 2020 11:18
antharry: yes, we have. If I were less polite, Andrew would have the bruises to show for it. But it's not a concern that I have in this case because the JORC is important for an independent asset valuation (IMO) and that's a point on which everyone's interests converge over the course of Q3.
RE: Jadam - the question is this. Will placings still happen when BP goes live...13 Jul 2020 10:01
antharry: I don't really follow this argument. Production is expected at the end of July. Should they not bother RNSing that?
Anyone who knows the circumstances knows that the arrival of equipment matters because the new equipment will allow us not just to start production but also to ramp up to full production. The company is quite right to keep us updated.
gkb: there are no known container numbers to track for the later shipments. The previous shipment RNS came 7 days after the arrival date because it took 4 days to clear customs and then a day or two to get to the mine, and then it was the weekend. If shipments arrive on time tomorrow, I'd hope for RNS somewhere about 20th.
Production by 31 July has been signalled so firmly and repeatedly that I remain confident that that that is on.
I have no worries about order/sale in August, as our existing offtake arrangement looks solid.
I am keenly looking forward to JORC in Q3 as this should finally lay to rest any doubts about what I am very confident is an excellent asset.
Waiting is a bore, and navigating our exit from Atlas finance will be 'interesting', to say the least. I expect it to be a bumpy ride.
But when one looks at explorers valued in the hundreds of millions on the strength of assets that are years away from production, and looks at our pitiful m/cap in comparison, it seems to me that there is far more upside than downside in the very near term.