Member Info for Valuation-it-is

As part of the HS2 cancellation/redirection of funding the SW gets:-

Funding for vital Exeter to Plymouth rail line. ...... Could be helpful............

Opening more railway lines between Cullompton and Wellington.

A new station built at Tavistock connecting it with Plymouth. ...... Could be helpful............

£100m in funding for a Mass Transit system.

£140m in funding to ensure the delivery of 12 road schemes. Could be helpful

A further £1bn fund for new road schemes around the South West, South East and East of England.

Https://www.youtube.com/watch?v=1KWgI2HTUGw

There is dilution and dilution

Dilution of voting percentage - yes if funds raised at subsidiary level we might not be affected at ALK level.

Then there is dilution of value held. .............................

It is not driving into the ground that is the problem!

Given the application to operate went in first in August 2021, if the EA had helped it would have been decided by now. So being on the critical minerals list, being a strategic asset, necessary for munitions is not enough for HMG to intervene. One does wonder whether there is someone seeking to make this fail. But why?

Thanks MO, you are a star.

I particularly liked

"Alkemy is also advancing discussions with several other potential customers for its lithium hydroxide, including major European gigafactories and chemicals companies and expects significant offtake and/or partnership deals to be entered into in due course."

Ian

I understand that TUN had to produce those reports, to satisfy the Environment Agency that the low frequency noise problem encountered by Wolf operations, could be overcome. Without satisfying the EA, there was and is, no hope of being granted an operating permit.

LB

Hopefully the baffling / negative sound waves will have done the trick anyway.

LB Cracking find! Hope at the 11th hour.................

Https://invinity.com/wp-content/uploads/2023/09/Invinity-Planet-MicroCap-Presentation-Sept-2023.pdf

Kemexon got their timing right!

https://www.bbc.co.uk/news/topics/cxwdwz5d8gxt

Up 3.58% so far today.

DVH

Good point. It is worth clarifying whether the directors have taken a pay cut, or are merely paying themselves less in cash terms whilst accruing the difference to pay it later when a fund raise has been completed.

Ian Gordon "In my opinion , if one goes the magnetic route then there is no need to operate the Dense Medium circuit and no need to repair it as it will stay idle ( about 60% of the plant idle and a big energy saving )"

It was in late January or early Feb 2022 that the company had decided to use Wet, high intensity magnetic separation, albeit not perhaps initially. Whether that changed at a later date, or the equipment was ordered, is unknown to me.

Heads need to be knocked together in the country's interest.

A solution to the low frequency noise must surely be found. Too much is at stake. My guess is the new crushers will sort that out.

Per Chairman's statement...................

Some of the key highlights from the 2022 FS update were:

· A post-tax Net Present Value ("NPV")5% of £297 million (base case) with an Internal Rate of Return ("IRR") of 25%

· An Upside case post-tax NPV(5%) of £415 million with an IRR of 32%

· Life of Mine ("LOM") of 27 years and an annual average steady-state mining rate of 3.5 million tonnes ("Mt") per annum

As outlined in the Company's announcement of 19 December 2022, we were also able to report an update to the 2021 Hemerdon deposit Mineral Resource Estimate ("MRE") due to changes in costs and processing assumptions, affecting the breakeven cut-off grade. The Group reported a 60% increase in ore tonnage and 10% increase in contained metal from previous 2021 Ore, taking the Hemerdon Ore Reserve to 101.2Mt. As a result the Hemerdon deposit is estimated to be the second largest reported CRIRSCO standard tungsten reserve globally. The lift in both the Ore Reserve and Mineral Resource could only be achieved from the work that has been undertaken this year as part of our work on updating the Feasibility Study, cost saving initiatives and operating efficiencies across the business.

And even the US Department of Defense have visited!

And the current market Cap? £3.8m !

Ian here is an extract which may help:-

Throughout the year, the Group continued to engage with their long-lead capital equipment suppliers, which included placing an order for the new semi-mobile primary and secondary crushing circuit which is being supplied by MO Group (Metso-Outotec of Finland). The seven ore sorters required for the plant upgrade have been delivered to the Hemerdon Mine. The construction of new screens and vibrating feeders provided by Vibramech was completed and these have been delivered to the Hemerdon Mine.

and

Inside our Mineral Processing Facility ("MPF"), a number of enhancements and upgrades have been taking place, designed to increase efficiency, reduce future downtime and reduce future maintenance, all of which were key factors that caused the previous operator to incur significant downtime. This enabled the refinery and magnetic separation end of the plant to be commissioned in April 2023 and produce approximately 50 tonnes of tin and tungsten concentrate from materials left by the previous operator.

Semi mobile crushers have been ordered - but whether or not delivered is unknown,

Why not take a look at the recently published reoort and accounts - in particular the Chairman's and Ceo's reports? See...............

https://www.londonstockexchange.com/news-article/TUN/final-results-for-the-year-ended-31-march-2023/16123544

Ian

About 18 months ago, the plans for the process plant included two key changes vis-a vis the Wolf set up.

1. The use of X ray sorting machines

2. The use of high intensity magnetic separation (perhaps not to be used initially)

I think the plant was going to be set up so it could process both Ferberite and Wolframite.

How that may, or may not, have changed in the last iteration is unknown to me.

BP Are you "hug and holding" IES or are you adopting a zero sum game of trading it?

If trading, when did you last sell and when did you last buy?

Ian "The present administration of TWL has never operated the plant and getting the “ show on the road “ is not necessarily the best thing to do "

I am under the impression that there was a test run on the plant carried out a few months ago.

Delaying getting the show on the road, may of course mean raising yet more money, having to re-submit an application for a different operating permit and then waiting 16 more weeks for the EA to issue their verdict. I would be amazed if the Ferberite point you have raised has not already been considered by the BoD. Good luck anyway with your efforts - it will be very interesting to hear how you get on,