RE: To buy more or not to buy more16 Jan 2020 09:31
That little voice has screwed me over before, but I’m thinking is that the off take agreement with the end user and the financing of the upgrading of the processing plant turned out to be much more time consuming and complex than anticipated. Also the drop in Mn ore prices meant it was harder to agree on a fixed price. I met Russell and he came across really well and since he’s been on board things have moved along way more than before.
Based on previous projections on a much smaller amount of Ore mined per month annual profits were £2m per year. We are looking at much larger quantities, obvs with less percentage for KRS due to negotiations, but still much higher annual profits. With our current Mcap I think we’re way way undervalued and once the final details land there SHOULD be a big re rate.
But this is AIM.