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If we assume 50 metres thick by 9 square kilometres by 2.8 tonnes per cubic metre by 6 % by £6000 that gives a very conservative £450 billion value for TiO2. . The actual figures quoted for depth are 4 times that. We just need the whole derisking and a price for processing ……
Surely the time line sequence will be, if possible:
1) Results of new drilling, with substantial increase in resource.
2) Mining Licence
3) Offtake Agreement
4) development Plan
5) Cash raise via debt, off take and equity or some mix of these.
That will ensure maximum cash raise due to mitigation of unknowns and associated positivity.
Waiting until then may well mean you lose out on SP gain after 1-4. Worth thinking about.
Post-period end, operations have been temporarily suspended at Lesedi as a precautionary safety measure due to inadequate water drainage and increasing phreatic water levels at the tailings dam.
Anyone care to comment?
4p dividend is good of course.
The new capacity of Mopani, including Lech we, is 17k tpa, with a further 14k from Sable, giving a total maximum capacity of 31k tpa. Sable will be commissioned and running at 10k at the end of Q1/2022. Lech we is due on stream during Q4/2022 with 7.5k tpa. The availability of the mothballed Mopani refinery now means that this capacity may well be doubled to 15k at the same time? With some good management this shoukd be possible and they are obviously targeting this.
By my calculation based on the stated cost of production and current spot price that would give a profit before on costs of $110 million a year from that operation, without a cobalt circuit or any other improvements, by the end of 2022.
https://twitter.com/chesterfieldplc/status/1423531852648914944?s=21
Most recent tweet this morning.
Already drilled several targets mineralised with copper and gold......
I believe that it is the height of human conceit to believe that contrary to the evidence of scientific knowledge that humankind, firstly, is responsible for the warming of the planet which appears to be occurring, and, secondly, that by a change in our behaviours we can reduce the warming by a significant amount.
The facts are that we have had global warmings and coolings lasting for decades over recorded history. There is nothing to suggest that this has not gone on before records began. We do not yet understand why this has happened, so we do not know the mechanics involved. However no one eems to mention that the 'gas' that has the largest effect on global atmospheric temperature is water vapour, rather than carbon dioxide. It is probably just because the proportion of water vapour in the atmosphere is not currently historically measurable that it is not discussed. However the proportion of CO2 in the atmosphere is most unlikely to be the most significant indicator, and human contribution to this is not yet agreed, it seems the oceans may well be contributing much more.
We are now being sold a story which has many scientists' support (because many scientists need funding to carry out their research) and the results of that research support the story that the funders of the research are telling (which is of course a great surprise because we all know that you shoukd always follow the mohey to find the answer) The story has great traction and is influencing global investment decisions, so nobody wants to hear any contradictory opinion ns.
All my own opinion, and DYOR as always - and I believe BMN has a great future in supporting the story.
Bigpat,
USA have to all intents and purposes given Africa up to China. Even Nigerian oil is sold to China, having being produced by the big majors. All the current investment is Chinese, in infrastructure to get resources to the East cost if possible and thence to China.
I cannot see US confronting China over Helium when they have companies actively sourcing He in USA, much closer to home.
Spedders
BigBagger, that article aligns with my own valuation of the company. Currently something between £14 and £20. The SP HAS just got to my cost, at last, courtesy of Muddy Waters. I look forward to the SPcontinuing to move up towards a par value over the next three months or so.
We just bought them a month ago? 17th March is the date that threshold was passed. LNG RNS this afternoon says we own 9.14%
To Accustem?
There seem to be a lot of negative posts on this board, talking about ten years of failure.
I ask myself, if people have been following (and investing) in a failed company with a useless CEO for ten years and are still logging on to the board and commenting, then what is their underlying message?
i suspect there is a shorting crew out there who are deliberately talking down the price, personally. Just my own view.
Steel, just commenting. By no means an expert. It seems to me that you may be concentrating on history, which is certainly indicative of future performance, but doesn't change fundamentals like oil out of the ground and price being paid, against an MCAP and reasonable P/E.
So we have currently at least 135 bopd at $58 a barrel, which is $18 above the assumptions currently made. IF that continues all year then that is $800K extra revenue above base assumption.
Should be worth a bob or two on the SP?
Drafted to minimise involvement. Almost certainly factually incorrect. ‘We have built multi storey buildings which met all the fire safety rules and regulations in place at the time’ The evidence already given at the Grenfell Inquiry has clearly shown this not to be true.
Why has it taken the directors 4 years to decide to act? Perhaps they see legal claims coming down the Pipeline from building owners as well as leaseholders? Is £75 million sufficient?