Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
I'm not sure where I said that attitudes of other shareholders in different companies directly affects our shareprice. Of course they dont. It was just an observation on relative attitudes to what constitutes fundamental changes.
But if you haven't noticed any irrational panic here, then I'm happy that we see it differently and luckily for us, that's what makes a market. Good luck.
Oops. Correction. Cora is a Yanfolila spinoff, in Mali. Not Kouroussa, which is Hummingbird's new mine, yet to start production, in Guinea.
We'll see.
Meanwhile the dodgy government in Burkina Faso, being held in place by the Wagner Group just "commandeered" 200 kilograms of gold from the Mana mine for "public necessity". The Endeavor share price gives the tiniest blip and no mention is made on the bb.
Cora, the spin off from the hopeless Hummingbird Kouroussa project in an equally bad jurisdiction, with an illegal hovernment in Mali also held in place by Wagner, where the government appears to be putting the brakes on all new investment in gold mining, has twice our market cap, without producing an ounce of gold and everyone is pretty relaxed.
Here, we all lose our **** because the CEO posted a picture of his dogs.
Sure, nothing subjective going on at all.
@id78. I didn't say there was no change to fundamentals. I said little change. And I acknowledged the delay in funding. And yes, that meant bridging finance was needed (and obtained).
The other fundamental elements improved. Geopolitical risk decreased, the price of gold increased markedly and the mine itself, with its associated facilities and assets has improved. Forward looking production levels remain unknown (but depending on your stance will either be a positive or negative).
I thought that the funding delay certainly justified a 10% haircut to the pre-funding share price. If you were pessimistic, maybe 20%. But 70% (or whatever it was)..... that's a tantrum and very much a moodswing.
Agreed on ignoring rumour and following facts. Just scroll through this board to see the swings in mood that have happened with very little change in fundamentals. Guys have gone from "this is a multi-bagger" to "this is going to zero" on the back of delayed finance and some rumours from known to be dodgy sources. Now there's silence, I bet soon to be followed by a latching onto of some piece of predicable news, maybe the finance package or production increases, both long signalled, to then say, "ah that changes everything, this is a multi-bagger again". More predictable than a bus time table.
Almost as expensive as not doing it.
Well there we have it, gents.
Quarterly reports? Catch up.
Hopefully in Kenya mining. Where do you want him to be?
Cant be. I saw Rick Rule sitting with Robbie and Elon Musk in a kebab shop in Plymouth at 2am this morning. At least it looked like them. The lighting wasn't great.
Damn. If only we had an operational mine.
Zan, apparently the Kenyan government did not give a flat no. They were happy to talk, but it was in the holidays and Ocim were not keen to extend. From the interview following the news.
Very interesting. I must also add that the immediate corporate governance spring clean, regardless of the motivation, is also extremely welcome. As much as this bb has been in a morbid frenzy this evening, I was surprised to see that partucular item being attacked. I thought it would land well, given the recent surprises.
The same way he tipped off the world's climate scientists that global warming is a scam?
They killed Kenny?
Sorry. On second thoughts, I'm being dim. Those costs that aren't static, change on the volume of throughput and gold produced, not on the price. So you don't need to adjust or add a congingency. You can take whatever assumed volumes were used for the scoping study and the aisc attached to that volume. That on a theoretical forecast is constant. So maybe at around $2650, finance is indeed uneeded?
Although a simplistic view, if it is just about extra cash and a lot of our costs are static, is it fair to think that if we need $12m roughly to get us from more or less 1koz per month potential capacity to 2koz at a $1650 gold price. Then at a $2650 gold price, we have the cash? Mayve add a margin for those costs that are not fixed $2800? Id imagine just at the current POG, surely the full 10m is not needed?
Has anyone looked at some POG forecasts? At what POG does the finance discussion start becoming moot? Lot of variables, no doubt and I'm sure it would be a high number. But there must be that theoretic price? Apro, is this something you have played with, at all?
100%. I think the fact that there has been a mea culpa, helps a bit. I'm all for start ups running lean, but an extra, maybe more administrativly minded body, in that office won't hurt.
Just a small jibe at your wording, LW. But fwiw suspect you're right. There may be some small shareholders not on LSE/Advn/telegraph/twitter and who were with one of the brokers who did not send out notice. Quite possible.