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Read the release again, they can’t buy or sell !
Not a chance they will sell any more likely add
Pre-payment off take, they forward sell the copper say one year at a slight discount to spot to a copper commodities trader of which there are plenty. Copper and gold there would be dozens of groups looking for supply. Trafigura, Mercuia, Noble etc. those are just the big names. Remember the copper production in one year alone will be worth $250m. I don't think the market has realised how big these numbers are for selling copper.
This will double over the next few weeks and months, mark my words. Once the market realises that this copper mine is going to be fully funded and they don't have to tap the equity market. It's clearly spelt out in the video below. Delta Dunia the incoming partner are extremely credible and in my opinion the deal is nailed on. I've loaded up here again taking another 1m, this will begin to move even before the signing of the SPA then we will see a lot of cash being thrown at the project and wouldn't be surprised to see the NPV numbers skyrocket. Then market will be asking why they didn't buy more here.
That's definitely not going to be the case - they are prohibited from selling anyway. Some dumbo who can't see the wood through the trees on this one. The mine is going to be more or less funded ! Nice little video here from them https://twitter.com/AsiametTweets/status/1458009775610990593?s=20
Kemot, the nameplate capacity on the mine is 25,000 tonnes per year - so not that small at all, multiply that by the price per tonnes ($10k, $11k even) and you will see how this might be easily possible. They will have other options as well but with off take they would just look to forward sell some of the first year's production.
Yes a good interview. Mostly covered how the funding question would be solved once the deal is done.
Downtoearth - in the RNS document it states the first payment for the mine investors expansion and works will be paid upon the signing of the SPA.
In terms of development costs, Asiamet will be liable for 49% and DD 51% - the DD contribution is expected to come off the top line and then the majority of the rest in debt. Leaves pretty little to make up and a lot further down the line
Yes absolutely, the SPA will get signed and when the deal is fully understood in terms of getting to production without dilution then expect to see some big rises from here
Updo, appreciate you have been around a long time and are one of the earlier investors in Kalimantan Gold but this is 2021 and those videos as far as I am concerned are excellent ! Keep them coming I say
Was speaking to the company and they have a presentation it was on that
I bought more today up to 2m shares. Also loaded a few BRES, way behind ACP but a bigger resource. Their PEA die out soon. ACP will be easily finance-able, getting interesting now.
Only a 49% free float
Good find. Mr Beetham, more TR-1s to come I wonder
Not really to fund well in Egypt - they are self funding! The divestment always on the cards they just did not say it publicly, Italy takes to long and was it really worth the bother with so few barrels a day?
All these few million here and there adding up to what? $9m is it? Plus the cash accruing daily. Recent knock back certainly providing opportunity
Warming up the market, I remember some stunning hits from both assets in previous years
Lords, see page 8 of this it’s all I there https://www.uogplc.com/wp-content/uploads/2019/12/United-Oil-Gas-Acquisition-of-Rockhopper-Egypt-10-Dec-2019.pdf
Yes you do have it wrong, the tax and royalties are including in the Egyptian government’s PSC take. They can recover all of the operating costs which are deducted from the Egyptian share. Then after this capex is also deducted (on a 5 year split). It’s all in black and white in the Optiva Egyptian coverage https://www.uogplc.com/wp-content/uploads/2019/12/United-Oil-Gas-Acquisition-of-Rockhopper-Egypt-10-Dec-2019.pdf
Tax and royalties are included in the PSC. It’s in one of the early broker notes. Actually makes Egypt very attractive
To change the subject again, does anyone know whether this is an exploration well or a development well? What are the prospective resources we are targeting?