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Do we have any concrete evidence India tried to sell Bukia?
This is getting tedious MB should have pushed the claim button already what's the delay?
They're acting afraid and fear leads to failure
Ceo was CFO for largest copper miner in Canada, he is no dummy.
Everything has a reason and probably we are being impatient.
In the long run of things sorting out kalakka is more important, for example minimising 10pct dilution might make us 100m usd more.
He is doing anything for a reason and a priorty order, i think we need to just trust.
1m means nothing here, apart from maybe 0.8pct more on 1bn plus...80m usd
If our kalaka situation gets sorted saves 10% dilution. Potentially that months work made us 180m usd.
I came to the conclusion if he can sort potential fund raising dilution, i do not really care if we launch next stage in Dec or feb next year!
Think on this. If you have enough cash for 4 years. Wait, claim grows at 80m USD a month, costs you say 100k USD in opex. Great trade for a 15m usd market cap. Even with a 10% probability of win, making 8m usd for cost of 100k
Sorry 80m should be 8m :) ( brain freeze)
But point is waiting does not really hurt us, makes us more than opex. Kalaka getting sorted is so important
@topsharepics, i think the proof you need that india is trying to sell bhukia from under us is here:
https://mines.gov.in/webportal/content/ongoingnit
This shows the current auctions of mines in india. Scroll through and youll see bhukia and when its scehduled to be auctioned.
Is that what you were after?
Pk
@Pk ..I am still confused about if/when the auction has/will take place.
More recent press articles seem to indicate it was completed a week or two ago..though nothing has been published as far as I can tell on the outcome...
@ Gall , let's say 3 million oz get confirmed.
And we sold 40% to jv or even the full 85% ...can you or anyone have a stab at a value ?
Sorry re Kalaka and I meant 40% of our 85%
PK's link on the Ministry of Mines website shows the revised 'tentative auction date' for Bhukia being June-July. Someone also posted a link a while back regarding the process to announce the successful party following conclusion of the auction - it won't be an immediate '...and the winner is...' when the clock runs out. Please can someone repost, as I can't seem to find it.
Thanks
CEO gets this. Bhukia is maybe a >50x return with 90pct pr.
The chances of making that from drilling do not exist. To compete you need for spend of 1m usd to make 50m of value, 1m of drilling could not possibly find much ( hardly any meters).
If we did not have bhukia, we would happily spend 1m usd to generate 10m usd of resource. Great result 10x. But bhukia is 50x. So it would be a relative failure if we were successful. Again not 100pct you even get 10x on mining ( rare!)
This is why limiting dilution is the key. Said it from the start and CEO is on same page
Https://www.businesstoday.in/latest/corporate/story/vedantas-hindustan-zinc-4-others-to-compete-for-two-gold-mines-in-rajasthan-429558-2024-05-14
I think that's it
Thanks deck chair.
I think the summary is CEO is busy sorting out the dilution issue.
Why we are not at next stage no idea, but there is a good reason
This is the link I was thinking of:
https://mines.rajasthan.gov.in/dmgcms/Static/files/Revised%20timeline%20of%20gold%20blocks%20floated%20for%20auction%20vide%20NIT%20dated%2006-03-2024_1711294329641.pdf
Thank you guys
That’s the one @ejt… I don’t think there is any reason to think there is any change to this… so I guess MB is waiting for T0… as are we… if, of course, it’s ever made public the size of their investment…
Things are defo being lined up into duck order by Mark….
PK
I believe auction result must be public. I checked that
We are all conditioned by the last few years and have a flinch to rises.
If this is a pump and dump, its a bloody good one but BoD need to release an RNS on that basis and they arent. That implies there is news in the pipe and they are hoping it reaches us before speculation goes further - ie they cant deny rise as there is news coming.
I still dont dare to hope too much but very very interesting - hope we hear of progression this week
Apologies - wrong board!Pop quiz, which board should it have been on (fun ask, despite my posting error, I do know!).
Correct!
EUA - I had pretty much assumed it was gone but damn them they have reignited my interest - its the hope that kills you!
Thoughts on early settlement v arbitration?
I am 60% towards early settlement.
Hi deck. Dream scenario I guess for any of us would be for a claim amount of at least 1.5 billion to be lodged with an early settlement of circa 450 million thus leaving a very nice amount after fees are deducted. This could then be split with a one off special dividend for share holders and leaving a decent amount in the pot for other projects. A win, win situation all round and GOI get to make a nice profit out of the mine.
Why would they settle for much under 900 million,if we have a value of over a billion plus interest,its a government(state of india) they will have the money its not like a company that needs to sell off assets to raise the cash,they will have bank accounts,so just transfer it over,if we win of course,, 99.9 to 0.1% in our favour,just a gready lot trying it on as they dint like the fact we found so much gold,a bit like claim jumpers in the wild west a 160 years ago,chasing people off with a gun,just on a bigger scale,, corruption is rife.
There seems to be very little meaningful progress as far as the average punter is concerned. No news from the board, no updates on anything, this could (and very well may) drag on for years or even decades without any resolution.
The silence over the last year has been quite deafening if I'm honest and the only thing keeping me here is the fact that I've averaged down a little and we seem to be at a floor.
It's not amazing and the lack of communication doesn't fill be with confidence.