Tribe Technology set to deliver healthy pipeline of orders from Tier-One miners. Watch the video here.
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Received its first income from Tahuehueto today. Tahuehueto went into pre production a month before manica. Obviously they are different projects with different methods, but it's probably not unreasonable that they will get manica income in 4 weeks time. That will be roughly 2 months from pre start. Hopefully xtr will start to get income from next month.
So we ‘may’ or may not have a podcast this week after a comment posted on telegram from Kev Hornsby about catching up with Colin.
What could we expect if so?
Decent update on Fairbride for starters, and from the other producing mines would be well received.
Comment on last year report and financial position.
Projects in the pipeline maybe.
There will not be much he would be willing to divulge that we don’t already know from Oz. Maybe confirm end of drilling, and go over again what they need to do next.
Reiterate target. (Bites lip)
Not expecting any prior RNS, then to be backed up with interview. Not expecting an interview tbh but a general update would be welcome to steady some nerves if there is.
But certainly news on initial start up progress from Fairbride.
Howezap, it would also be good to understand what there hasn’t been a notice of AGM date published yet.
Id like to see a pic on the website with Colin holding a dory bar....... might be enough gold produced to do this already
Colin, it cant be too much hotter in Mozambique than the UK at the moment. great opportunity to arrive already acclimatized.
There should be plenty of gold being produced very soon.
Pre production announcement by Empress was 13 June - 5 weeks ago.
Just to remind us after pre production phase we are ramping up to:
•480,000 of ore tonnes per annum mined
•Average grade 2.72 g/t mined
So soon we should be at 100 tonnes processed per day per RNS 4 Sep 2019 on agreement with MMP "Commercial production is defined in the Collaboration Agreement as a being installation of a processing plant with a throughput capacity of not less than 29,000 tonnes per month (being 70% of the planned 42,000 tonnes per month throughput)."
That's $4.3m of gold a month
WHat percentage do we get, I forget as it's complicated.
23% of 'operating profit', although the definition of that has never been very clear. I'm fairly sure it doesn't include any capital expenditure and hopefully not depreciation, etc.
"MMP will receive 77% of all the operating profit produced from the permitted area through the performance of the contract by MMP when the prevailing price of Gold is greater than US$1,250 per ounce. For the purposes of the Collaboration Agreement, "profit" is defined as: Revenue on Sale less deductible costs (excluding non-cash items) and corporation tax."
https://www.lse.co.uk/rns/XTR/manica-hard-rock-collaboration-agreement-ghoo8qdt7s68ji6.html
BTW Jezzoo I noticed you joined the smaller of the two XTR telegram groups. I sent you a link to the larger group by private telegram chat.
My assumptions below are based on previous info and CBs previous interviews:
Possible FB income now assuming $1700 POG
Assuming POG 1700
Production tax (6%) 102
Direct cash costs (CB said 560 official but call it 600) 600
Prod tax + Direct cash costs 702
Tax (32%) (32% of profit) 319
Net Profit per ounce 679
Margin % 40
100kg Gold a month = 3200 troy oz
Xtract get 23% = 736 toz
40% margin = net to xtract =294 toz
Monthly profit in $ (assuming $1700)(294 x 1700) $500,000
Monthly profit in £ £414,000 (USING 0.83 conversion)
CB said in an interview about 2 years ago, the margin at FB would be between 40% and 50%. So 40% margin seems reasonable. It would be 42% margin at $1900 POG. In other interviews, when POG was higher, he’s also stated $500K to $600K a month from FB which is also consistent with circa $500k a month.
£414K free cash flow may not be as much as some very optimistic figures I've seen (no doubt gross figures and not FCF) , but that monthly amount CLEAR PROFIT, will be transformational for a company of our current MC.
And if CB actually tells the market, the SP may even rise :)
So £6million a year profit roughly.
I nearly have .5% that's 30k a year for me!
Colin, I accept checks or straight transfer, can I have mine monthly though?
>>And if CB actually tells the market, the SP may even rise :) - and in a actual meaningful way, i.e. more effort that a poorly worded RNS or a half arsed Tweet....
The graphical stuff that Empress are putting out ATM is quite impressive. I imagine there are many companies that produce this sort of thing these days!