We are on the cusp.11 Oct 2022 10:17
It is great that they actually RNS'd that the machinery is working again and has been overhaul.
If we extrapolated the current production figures to get us to 4,0000 tonnes over whole month, so if we do the maths "output from the wash plant has averaged 14.87 tonnes of washed coal per hour, consistent with the initially targeted cumulative monthly output of approximately 4,000"
4,000 / 14.87 = 268.99, let say 269 hours, so it has to run 269 hours a month at 14.87 tonnes per hour to get to 4,000 tonnes. (yes they may get more per hour but lets go with the facts as they are presented)
So 269 / 8 hours a day means 33.625 days, so we know they are running it at more than 8 hours a day.
So 269 / 9 hours a day means 29.8 days a month running
So 269 / 10 hours a day means 26.9 working days, which gives them 3 or 4 days off a month to make it up to 30/31 days per month
Or 269 / 11 hours a day means 24.45 days of running giving them 5 or so days off a month.
Currently we haven't hit 4,000 tonnes, 4,000 tonnes is still jam tomorrow as it stands today but it is more positive.
It is great to hear that it is expected (note the expected) higher price for coal, but again positive news.
We need the cash, in my opinion desperately to stop a placement. The "planned servicing and repairs on the main machinery and wash plant at the Rukwa site, as well as the purchase of two additional trucks"..."Further refinements to operations will continue over the coming weeks"...."The Company is also ensuring an inventory of spare parts is amassed at site" are not cheap. We need coal out the gate and money in the bank asap or we will need a placement.
All in all some strong actual facts enclosed in the RNS with a layer of jam tomorrow.
UP 25% but I wonder how many will cash in on their profit by the end of the day and thus where we will be at the end of the day. I hope they don't use today's rise to get a placing away.
The 4,000 tonnes and new contracts will be the news that keeps the price up.