Member Info for Shedulike

Mm's I think it's currently around $US1,000 million LOM revenues rather than profit, soon to be more though. Lundin also retain some rights if we build a mine:
i) make a one-off payment of US$2.5 million to Lundin at such time as a decision is made to proceed with the construction of a mine on the Toral licence area;
ii) make a further one-off payment of US$5 million to Lundin following commencement of commercial production (as defined in the agreement) on the Toral licence area; and
iii) pay Lundin’s subsidiary a 1.5 per cent. net smelter return royalty upon commencement of commercial production on the Toral licence area.
Nobody should be alarmed by this as the payments are factored into the economic model.

Bricks I take heart that they over delivered on the Tranche 1 as it backs up the comments about the results being better than expected. I always felt that shareholders would have been better served had Tranche 3 been 'receipt of a successful mining licence application', though just a thought, could be at this point of making the application that they plan to hand over?

It would require a government Ministry to decide what can or can't be reported, what does that remind me of?

Are you advocating censorship Oligarch?

Oooh didn't see that - time to air my ever unpopular gag - 'Carry On, Follow That CAML'.

Unusual time to Tweet Teaye. Bit of a strange day in the market also. No media after a very significant resource upgrade, no flashnote from our highly supportive broker :) Something else around the corner? Just hope it's not a repeat of last year following the JORC upgrade.

Nbear I'm a bit unsure on this as I had assumed the metallurgy and ore sorting test work had started in the spring after the phase one set. This from the 29th April:
"A significant sample of 700kg has been obtained which will contribute to PFS level metallurgical testwork including enhancing the understanding of an ore-sorting route within the upper, siliceous zone during the first years of production, the objective being to further improve initial economics of the project".

That's true CHRI5P but when the 3 year trailing average is calculated for the PFS it will include the period when metal prices flashed down due to Coronavirus. Silver for instance went down to $12/oz. The recovery was fast and they seem to be settling higher so I'm hopeful the net result will be comfortably higher as you say.

Agreed Sammybow the break even point will certainly come down. Don't forget how these results inform the geotechnical work, "Given the levels of grade now established in the upper zone and the physical location of the mineralisation, further work on the decline design can also be advanced".

Like the suggested new handle, but probably better for you z if you keep your fantasies to yourself :)

Yes will be interesting to see if TP at long last reassess that 34.5p - the fact that we can advance the resource to this extent by exploring just one relatively low grade (now not so low) zone within the block model is pretty impressive IMO. If you extrapolate what could be achieved across the whole block model into the high grade zones then the numbers get even more interesting plus don't forget we're open to the east and not closed off at depth, I also haven't seen them reference being open to the west along strike before, though aren't we getting close to where the mineralised corridor outcrops in that direction?

Sorry mfm I don't remember that one - was it me being cynical about charting? Still things look better than the 5p predictions we had earlier in the week!

DDHammer I think the total revenue may be more than that because the % increases in indicated (55%) are much greater than the % increase in combined inferred and indicated resources.

Jed just like the company are doing wait for the FS so you know definitively that you won't be wasting your time and money.

Jed this is a resource update just like the previous one where the numbers were worked into the PEA. Similarly these resource numbers will be processed into an economic model with the PFS and you'll get an idea of the value of this mine. For what it's worth you can apply the figures from the PEA to the % increases in this new resource if you can't wait to get a rough idea what the total revenue might be. As Bricks said remember this is only from within the block model. Staggering level of ignorance from the 7:13 post, embarrassing but I'm sure there will be more :)

You told us you had bought in back in July Highside, had you forgotten?

New Tweet about the 100% safety record, not what we're waiting for but at least we know that half the workforce aren't queuing at Toral A&E :)

I guess as you're talking magna and extreme temperatures the minerals holding copper would likely have formed at the same time. I always assumed that the separate thermal event was meant to describe how the Zn, Pb-Ag deposit formed at a different time to the Cu rather than different zones in the resource model. I'm not a geologist as I'm sure everyone can tell so I would ask LR, by the way Myles is also helpful on this stuff.

A separate thermal event I think Bricks which is why they're so interested in what could be at depth. I remember hearing something along along the lines that it's definitely not anything like a copper porphyry deposit but a 'halo effect'. I have never been able to find much on that though.

Bricks my guesstimate is that they are about 400m apart based on the following information. The purpose of campaign TO-18-20 was to "remove 'gaps' within the known resource, all within 300 metres of topographic surface, and to identify geotechnical characteristics of a possible decline/entry route(s) for preliminary years of mining". Assuming the planned decline has not moved hugely you can reference this diagram (see figs 2&3): https://www.rns-pdf.londonstockexchange.com/rns/8746K_1-2021-9-6.pdf
You an also overlay a cross section of all the holes drilled though the numbers are difficult to decipher, I have asked for a higher res version before but it wasn't forthcoming. Does sound like we'll be into Cu from early doors but I'm trying to keep an open mind on whether it will be in the new JORC as they won't commit to this. When we know what sort of Cu resource we have and they commission some metallurgy on it we'll have a better idea what it could mean for us.