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“Total, about $1b. LOM 28-40 years producing 27000 tons of NI at $18k per ton gives a turnover of about $500m per annum.”
That’s turnover, what’s the free cash flow? I doubt you can rely on Horizonte’s AISC figure given how badly wrong they got the CAPEX.
TDT
Rgbuk
I wonder if Orion did a similar in depth analysis before investing in Horizonte?
TDT
And Lundy has you on ignore!
TDT
“ The Company has continued to await positive developments in the DRC and in the listing of Elephant Oil. Both these developments, which would crystallise value and bring new cash to the balance sheet, have been slower than expected to eventualise.”
“Eventualise”
That’s a new one on me.
The comedy/tragedy continues.
TDT
Picking over the wording in todays RNS I suspect that this:-
"Although the higher stripping resulted in an increase in the AISC during the year, the exposure of the orebody's grade, diversity of minerals including lithium, and scale at depth according to our geological model, will start to become glaringly apparent placing the operations in a robust position to capitalise on the rebound in the commodities markets for all our products."
Is largely the reason why we are still seeing this.
"Since the launch of the Strategic Process to identify an appropriate partner for the lithium development, leading international organisations within the lithium value chain have visited the Company's assets in Namibia, have conducted mineralogical test work, and have implemented detailed due diligence. Andrada has narrowed down the various non-binding indicative offers that have been received to date and discussions are ongoing with the objective of progressing to final binding bids."
Something that's "glaringly apparent" will encourage a better binding offer than not I should think.
TDT
Bang goes the leaky share theory 😳
TDT
Andrada is a leaky share and so far we've seen no sign news might be just around the corner. If volume and the share price pick up then an RNS will follow. Until then............
TDT
Take comfort from this sentence in the 12th. March RNS.
Strategic process
Indicative, non-binding offers for a partnership interest at the Lithium project level have been received and discussions with potential partners are progressing well.
"offers"
"potential partners"
Plural.
If you have several different interested parties in something you have for sale would you be in any hurry to make a decision? I think the longer this goes on the better the potential outcome.
TDT
CCC.
Agreed.
TDT
That will be a tea spoon then! 🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣
TDT
Https://www.investi.com.au/api/announcements/as2/b4dffd13-051.pdf
TDT
From memory Eurasia only owns 68% of anything they pull out of West Kytlim so you need to factor that into the equation. Also, its raw platinum not the pure LME 99.9% stuff. Oh and they're also probably still reporting imperial ounces as well and not troy ounces so be careful you don't confuse the two.
In short the pile of dirt in the warehouse is worth and awful lot less than you think.
TDT
Try tena ladies.
TDT
Good start to the week.
https://twitter.com/jczuleta/status/1769606033326899280?t=FBjaDQpHqt8gTOtPMYU-kg&s=19
TDT
…..by the looks of things.
https://twitter.com/jczuleta/status/1768747140698779777?t=87MyBh0qlIVoU3aOB23lrg&s=19
TDT
Barnburyboy
I belatedly agree with you. It seems to exist to merely push critical posts down the page.
I don’t usually like filtering anybody but in this instance there seems little pointing in continuing to be subjected to meaningless drivel.
TDT
“RRR in selling any asset, say, would want to KEEP AS MUCH OF THE PROFIT [CAPITAL GAIN] as possible…..”
RRR and profit do not belong in the same sentence.
TDT
Then there's this.
https://www.reuters.com/markets/commodities/china-lithium-boom-slows-sagging-prices-batter-high-cost-miners-2024-03-13/
The lepidolite, spodumene narrative is an interesting one for a company in Andrada's position.
TDT
It's all shaping up quite nicely IMO.
https://www.mining.com/web/the-big-lithium-short-gets-dangerous-on-lower-supply-outlook/
TDT
Good effort rgbuk. I hope you're right.
TDT