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Hi John, I am under water with this share as well.
I read up RNSs from 2019 time and I agree with you that under Norman Williams (around 5 years as CEO) and then Andre Booyzen (around 14 months as CEO), this mine has never returned a profit hence why the constant raise. Since consolidation we have lost massive %.
Between the last 2 CEOs and TB (current CEO), TB has bought the maximum. In fact, Andrew didn't buy a single share and Norman bought a paltry amount.
Throughout the tenure of the past 2 and the current CEO, Brad Mills as the Chairman has been the constant and of course he is the founder and managing director of Plinian Capital and its CE Mining family of funds.
TB has been in charge since 1st June 2020. In regards to CFOs under his tenure, on 8th Jan 2021, Eason was appointed and then Celeste van Tonder appointed as on-Board Interim CFO on 24th March 2022 and has relocated which shows commitment.
Could next year this mine will finally start producing profits (after restructuring the debt/placing expected in the next couple of weeks)? Or will we see more of the past as you have seen John? It does make you wonder.....
Let's see what the future holds.....
Dnt need all of that simple borrow big cost save upgrade everything then we are ok. From begin always said 290 million not changing that. Not in one go. But it happen this year and nxt
They are never going to raise £290 Million, and they are NEVER going to ask for anywhere near that! I have never read something so silly!
Problem is moon if they do go huge as you wish and they use say D4E, that wipes out existing shareholders. Company and employees fine but existing shareholders diluted to oblivion. You are talking about complete recapitalisation of the company….
Placings and rights issue now are unlikely to provide material amounts of cash due to v low market cap. Who knows might play a part of a mix where existing shareholders are thrown a small bone….
BoD need to set the record straight asap. Especially on costs to mine and AISC.
Keep saying that just wait and see did not say now but begin
Shut dwn mine for electricity upgrade cost millions just wait because this is point in my life i can’t believe how amazing this really is
Can you please explain when and where you think they will try and raise the £290 Million? I think your wrong I think they might try for £2.9 Billion! Actually no why not make it a cool £5 billion
You must be easily pleased goingtomoonufo.
I suspect you are just a wind up merchant, and why not. We may as well have a laugh!
Assets at yearend of 2021 was $114,465,000 after bank loans and Liabilities they had assets of $72,833,000 and Debtors of $ 1,500,000 - This is not taking into account that the mine is worth over $1 Billion! - The chances of this going under are very unlikely as most Banks will lend to them with Assets like that!
I so hope you are right Mr. Jones, I truly and honestly do.
What we must hope for is a rise in the copper price, which is basically where it was 10 years ago (in absolute terms let alone adjusted for inflation). In theory it should rise with EVs etc. No good having all the copper in the world if it costs more to get to market than its market value.
The terms we get for any cash raised (equity of debt) will depend on the copper price so we had all best hope it rises pretty damn quick
They cost to mine it has dropped considerably according to the company! We really do need a spike in copper prices though! And hopefully that will come!
The 760L program so far has added 34,000 tonnes of mineralized material at a grade of 2.13% copper
to the near term mine production schedule. In terms of the specific quantities associated with the
stopes that this drilling covers, this has increased the planned mineable stopes size from 43,500 tonnes
to 79,000 tonnes, an 82% increase. Importantly, there is minimal additional development required to
access this material, thereby keeping the cost of mining to a minimum
In the 2021 financial report the 30.818 million usd / 7228 saleable copper gave a c1 cost of $4.26. C1 costs don't include things like dev, exploration costs or reclamation (I believe)
C3 (fully allocated costs) was $5.83
I'm not sure how much this has changed but we'll find out hopefully in the financials that are due imminently.
Improvements in mining efficiency and head grade'should' have created economies of scale but then inflationary impacts seem to have driven up costs.
Who knows
Right how much u think drill cost how much u think new truck cost and exspand storage how much u think it cost move mill set it up new electronic if u went to zoom tb said they need upgrade electronic but don’t no how so it don’t effect bussiness to much. Ore sortor u keep laughing at me it’s ok once we do get everything together it really would be rmm best time ever.. rmm been trying upgrade electronic for years but can’t afford it.
Yes it sound bad but in mining it’s so expensive as we have all seen. In period every thing exspive just remember that gonna get worse