Member Info for TalkingSense

"We will emerge with a more efficient fleet, with a stretched out newbuild order book and having paused new ship orders, leaving us with no deliveries in 2024 and only one delivery in 2025, allowing us to pay down debt and create increasing value for our shareholders."

So still paying down debt in 2025...a long road to recovery

No 500k trades since 9:30 this morning...are we finally clear?

Another extract:
"Since March, the company has raised nearly $12 billion through a series of financing transactions"

And they are going to make another $1bn offering
The (hopeful) financial recovery here is going to take many years and anyone expecting a quick bounce back here is extremely optimistic

Has been sneaking up quietly over the past few days - now $1968

And no-one has addressed the debt issue on this BB
Carnival owes $BNs extra through this crisis and this all needs to be repaid

When cruises start again they are likely to be on a reduced capacity.
All the future cruise credit handed out this year will mean that a large % of cruises in the first year will not generate any significant revenue as a very large portion will already have been paid for and the proceeds already banked.
there will be significant start up costs to get the staff back on the ships and get the ships prepared after their lay up.

This and the £900m raised in August will be running out soon so we can expect another cash raise.
So for the next 2-3 years the focus/challenge for Carnival will be being able to service it's debt mountain, so don't expect any profits for quite some time.

https://www.dailymail.co.uk/news/article-8733265/COVID-19-lockdown-lifted-regional-Victoria-TOMORROW-state-records-zero-deaths.html

Well this may bring forward any JV timescale from where we previously thought ….more October than November ?

That is excellent news !!!!!

Hi Polinvest,
On yesterday's podcast Craig stated that the have 3 potential partners for Creswick.
He described 2 as key partners (whatever that means).

They have completed Due Diligence except for the site visit that is being held up due to travel quarantine requirements.
Once the visits happen I cannot see this taking too long as the proposals for JVs have been received so you would think the details are being worked on in the background with the last tick box site visit the only step to go.

The rejected offers were for Baillieston which we are now taking forward on our own and that's why we have purchased our own diamond drilling rig, with one of the first objectives being proving up the New Moon prospect to a JORC compliant resource

It will easily double the current SP (at least) on announcement of a JV IMHO.

Yes....eom :-)

A quick reminder of the main points of yesterday's RNS including the fact we are fully funded for at least the next 12 months with no requirement for issuing further warrants or fund raising:

*MGA has recently signed a contract for the purchase of a new Cortech CSD1300G diamond drilling rig complete with spares and all downhole equipment, which is capable of drilling as deep as 1,300 metres. The rig is expected to be delivered in October 2020 and will give MGA an in-house drilling capability, which will be preferable to relying on contractors.
MGA has access to experienced drilling personnel to operate the rig, and it is expected that future drilling can be completed at lower cost and with greater flexibility using MGA’s own rig.

*The Directors are VERY OPTIMISTIC for the future, and the Company has a robust underlying cash position of £1.65m with which we can confidently push ahead with operational programmes.

*MGA has recently purchased its own portable Olympus XRF analyser in order to enhance and expedite its geochemical sampling capabilities.

* Blue Moon: ECR plans to test whether the mineralisation continues to improve towards the west, subject to gaining surface access. There is also potential to carry out further drilling within the zones already tested, with the objective of establishing an initial JORC Mineral Resource.

So drilling programme in place, purchased own Diamond drilling rig to expedite the drilling programme at a lower cost, still £1.65m in the bank and looking to prove up Blue Moon to a JORC compliant resource.

If you presume all sells of 400k shares and above are warrants then over 5.5m cleared today

F2S...also , how had was he trying not to say a Creswick deal will definitely be done....a lot of stammering and hesitating to make sure that he did not give an absolute promise ...lol, almost could not help himself
Won't happen in the immediate future, but will happen IMHO.

Are we due another money raise? - The last £900m (which Carnival will have to repay £1.5bn over the next 7 years) was early/mid August which gave enough cash for another 6 weeks running costs.
So I would expect another cash call soon....or am I reading that wrong (happy to be corrected).

Gino,
I don't think the warrant seller is fully done yet as still some 500k sells going through.
The increased volumes will certainly speed up their exit though.
And we are still moving up in spite of the seller.

Just shows how fast this can move on news once they are gone.

Gino, Also good to see that they are going to push Blue Moon forward towards a JORC compliant resource.
It's the first time JORC has been mentioned in an ECR RNS ….progress being made!
And once we get JORC compliant resources it will make gaining finance to take the project forward easier without having to dilute the shares further.

Good RNS Operational update:
*MGA has recently signed a contract for the purchase of a new Cortech CSD1300G diamond drilling rig complete with spares and all downhole equipment, which is capable of drilling as deep as 1,300 metres. The rig is expected to be delivered in October 2020 and will give MGA an in-house drilling capability, which will be preferable to relying on contractors.
MGA has access to experienced drilling personnel to operate the rig, and it is expected that future drilling can be completed at lower cost and with greater flexibility using MGA’s own rig.

*The Directors are very optimistic for the future, and the Company has a robust underlying cash position of £1.65m with which we can confidently push ahead with operational programmes.

*MGA has recently purchased its own portable Olympus XRF analyser in order to enhance and expedite its geochemical sampling capabilities.

* Blue Moon: ECR plans to test whether the mineralisation continues to improve towards the west, subject to gaining surface access. There is also potential to carry out further drilling within the zones already tested, with the objective of establishing an initial JORC Mineral Resource.

So drilling programme in place, purchased own drilling rig to expedite the drilling programme at a lower cost, still £1.65m in the bank and looking to prove up Blue Moon to a JORC compliant resource.

Hi Diplomat,
Interesting thoughts.

With the warrants, what's done is done and we cannot take it back.
The good news is that we are well funded for over a year moving forward so no raises in the next 12 months.
At that point we should have a proven resource for some of the licenses at Baillieston. If at that point we want to raise funds to start production then Craig intimated in recent interview that there are plenty of mining banks in Oz willing to lend money to operations. With a proven resource it should be easier to go down this route, so no further dilution there.
Creswick will cost in the region of £30m to fully prove up the resource and then there is the cost on top of that so a JV is a no brained where the other party bears the resource proving costs (a la GGP).
So we should be able to prove up Creswick and take Baillieston in to production with no/minimal further dilution if we play our cards right.

For once DH is actually being restrained.
He says 5p+ on JV but is not saying it will happen imminently.
He must have taken a sensible pill today.

I have a feeling he's has a holding on a free ride from the previous ramping.

Have a good weekend all!

Hi Gino,
I'm pretty confident volumes will pick up next week ;-)

Hi all, just whispering ....Gold up
$1,962.3

Change
14.86 ?(0.76%)

I'll let you all get back to snoozing.