focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
Darren Bowden, CEO of Metals Exploration commented:
"The results released today demonstrate a life of mine of at least five years which, given the work that we have carried out and are undertaking we are confident can be extended.
This report shows we have an excellent project and that we have built a solid foundation from which to grow."
From RNS 14 Feb 2022
Before the end of the year on Vermelho…
Additional contracts that are in the final stages of being awarded include pilot test work, mining, hydrogeology, hydrology, infrastructure and logistics packages; and,
· Environmental licencing for Vermelho is well advanced, with key regulatory submissions, forming the basis for the construction licence issuance, expected to be made prior to year-end.
It will depend on the Price of Nickel. If it gets back up to the 28k plus side when we are producing Nickel, there will buckets of free cash flow.
The Vermelho FS will be completed in Q1 2024. HZM are working their way through the many approvals and permitting requirements at the moment. There will also be announcements on bulk sampling and pilot testing in the next 6 to 12 months.
The suspension will not be lifted until after shareholders have voted and accepted any D4E. Any D4E needs shareholder approval. If the deal is rejected the share will remain suspended due to financial uncertainty of MTL . That is what the Debt holders also need to consider. We are in check.
Well our saviour has been the price of gold, go back a year and we would have nothing in the bank and would be going cap in hand to the Loan Sharks again. I hope they can continue to produce similar volume of gold at these prices as the Fixed Costs of loan interest continue to be charged even if not paid over. Also the AISC price is inclusive of all corporate interest costs and the CAPEX costs and we are still making good profits.
I for one do not want any RNS re debt issues until the Q1 results are out and MTL has another $10m in the bank. The more cash in the bank the more value in the business and the higher the share price. At gold at $1700+ April will be the best month ever if we can hold/control/reduce the AISC.
Clearly demonstrating that despite the share suspension it is business as usual for operations and improving the LOM. Tad disappointed they are using the gold price of $1200 when currently the price is north of $1700. Also this information is required in order to value the worth of the business for any debt for equity valuations/calculations.