Listen to our latest Investing Matters Podcast episode 'Uncovering opportunities with investment trusts' with The AIC's Richard Stone here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Come on CB give us something to liven up the SP! Its Zzzzz boring
Agree.
No posts for 3 days on telegrams and the same on here.
Everyone has taken their positions. We've been here for 3 years +. Manica has been working up to full capacity for almost as long as I can remember. Havieron will be in at full operational speed before Manica at this rate.
Colin keeps on banging on about the incoming upturn in copper price on twitter. Doesn't matter if you a) Don't make progress in your projects b) Don't give honest and accurate projections and estimations for your projects ("gift wrapped for AA by April '22!") c) Reduce the annual reporting of income from 4 times a year to bi-annually
Lots to be frustrated about here despite the incredibly favourable headwinds that could be coming our way. Could go very well indeed if Colin plays his cards right. My worry is his eyes are off the ball or his definition of "death by a thousand lashes" is different from mine. By my reckoning we're on about 750 already...
Hopefully at a low point here , both in terms of interest and share price. Patience of Job required.
Going back to the April target set at the beginning of ‘22. Colin never actually said to sell it then, what he actually said was to be in the position to approach Anglo with 2mt and a conceptual pit that works for the decision to mine. Although that was obviously wishful thinking on both fronts anyway as we now know they want to see a PFS. It’s certainly debatable wether Colin actually believed 2mt was realistic and a concept study was going to be adequate.
All the ramping was certainly in the interests of the existing shareholders where potential further dilution was concerned at the time in all honesty. But above all, as it was then, and still is, a genuine importance to get the buy back mechanism triggered to be free from the agreement one way or another. That is the biggest hurdle.
I’m happy with how it has been played overall, understanding what I know now, as long as there is a viable project at the end of it which can get to that point with ideally no more dilution, or if so, by a minimal amount then CB will have done his job.
what Colin actually said in an interview was that if we were still here (with Bushranger) by then (end of 2022) that he (quite frankly) wouldn't have done his job right.
I'm not kicking the missed timescales.... although they present a massive target for kicking.... but I dont see any point in trying to suggest he was telling us anything other than we were looking for a quick sale in 2022.
I do have a gripe with CB to show I’m not being deliberately biased, and that being with this remark when he was defending against BB sceptics like myself at the time, that majors would want to see some measured resource.
CB- “Majors come in when there is reasonable geological justification to assume that you’ve got a big mass of rock that contains a lot of metal.”
That would be true for deposits where the mineralisation type is more predictable to be of consistent grade and thickness. And was the reason why kalumbila only sold for $165m for a loosely inferred 1.5b ton resource.
But it is a false claim for a low grade porphyry deposit, and certainly for one that is bound by targets set within the confines of a buy back agreement where the recipient wants to see the hard numbers that can only be supported by a probable/proven mineral reserve, as it recently transpired.
But at the end of the day, ton for ton BR will command greater value than kalumbila did, due to having a PFS so it will be worth the extra wait.
So we hope, howezap.
Awaiting Manica production numbers.
https://www.barchart.com/story/news/15702565/is-a-copper-rally-on-the-horizon
When can we expect next set of production updates please?
"When can we expect next set of production updates please?"
Imminently :)
Last quarter release was 9 Jan so if its as late as that then it should be tomorrow (just before Easter). If not then it will be after Easter which means they will be latest ever release - circa 3.5 months after period ended.
If they were good they would be released by now so I'm expecting them to be average at best ie circa 50 to 60 kg for the period. Anything less than 50KG will be disappointing imho.
Alluvial production is running down but small Hard rock seems to be increasing so most of the production may well be down to small HR??
I thought he'd moved results to bi-annual so he only has get off his **** twice a year not 4 times a year.
Jezzo
RNS said
"We anticipate that the financial results from Fair Bride, where we have a 23 per cent. net profit share will initially be reported semi-annually."
My understanding was that that the semi-annually reporting period was referring specifically to production at FB only and not the alluvial and small HR?? Those other two production streams are more manica in general. If it was for ALL production then I would have thought the word "Manica" would have been used and not Fair bride??
Well, that's my understanding. I guess we'll know which interpretation is correct soon enough.
Andrew4444
You're probably correct, it's always been a complicated set up over there and just when you remember the new parameters they change !
I think that understanding is probably correct as Fair Bride is obviously a completely separate area compared to Guy Fawkes and Boa Esperanza, and they were not in the semi-annually comment and can't be seen to be anything to do with Fair Bride??