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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Afferro Min | AFF | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
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|---|---|---|---|---|
| 0.00 | 0.00% | 88.75 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 88.75 | 88.75 |
| Top Posts |
|---|
Posted at 22/2/2015 01:13 by j1nxed Gunnison Copper Projectso the project is located in the middle of nowhere in arizona but has superior access to infrastructure which is what usually kills a project on the spot (african iron ore anyone ;) ) hxxp://www.gunnisonc the economics are quite staggering (market cap of $28m CAD) After tax in US$ $2.75 Cu price, 7.5% discount rate • NPV: ~$820 million • IRR: ~45% • Payback period: 2.4 years • Initial capital: $285 million • Production rate: 110 million lb/year • Average for the first 14 years, then declining over a 20 year total mine life • LOM production: 1,682 million pounds (based on current recovery rates, might go up) • Direct operating cash costs (C1): $0.69/lb • Indirect/other operating costs: $0.13/lb • Sustaining capital: $599 million • “All-in” costs of $1.37/lb (this includes sustaining, indirect/other AND initial capex) hxxp://www.excelsior What matters these days is low CAPEX, low OPEX and good infrastructure and you are usually limited to one if you are a junior. A lot of the juniors sit on massive remote deposits that face a lot of environmental opposition (look at pebble mine in alaska) or a really bad IRR/NPV. The gunnison project is still very high risk (metallurgy needs to be tested more, water assays needs to be run, groundwater flow models needs to be developed more in depth etc etc) but the good news is that most of the testing work for the FS should be done by q2! hxxp://www.excelsior They should be close to fully funded for the FS since Greenstone resources (same company you highlight zangdook) bought in a few months ago at a premium (how often does that happen?). I suggest people start with the presentation and their Q&A hxxp://www.excelsior |
Posted at 21/2/2015 23:08 by j1nxed In-situ miningSo the company is called exelsior mining and is planning to mine copper in arizona using a method called in-situ recovery or in-situ leaching. It is not a method that is widely known among investors outside of the uranium industry. The in-situ method is widely used in the uranium industry (i belive 45% of the WORLDS production is ISL) where you inject a weak solution (what kind depends on the ore) into the ore with an injection well and then pumps the solution to the ground with 4 recovery wells placed nearby The in-situ recovery method requires a few things to work "All the historical data and all of the new data collected by Excelsior indicate that ISR will work at the Gunnison Project. The essential components for a successful ISR copper operation are: 1)The orebody must sit entirely below the water table; this is very unusual for a copper oxide deposit and is mostly seen in Arizona due to the state's unique geology. Excelsior's deposit meets this criteria and is entirely below the water table (covered by groundwater). 2)The copper oxide minerals must be readily dissolvable in acid; Excelsior's copper oxide minerals are the same as other copper oxide deposits and are ideally suited to leaching. 3)The deposit must be fractured; thereby allowing for good fluid flow (permeability). Excelsior's deposit is highly permeable and fractured, with nearly all of the copper mineralization occurring within the fractures." hxxp://www.excelsior This method have been used in extracting copper in the area before by BHP/Magma Copper (san manuel, pinto valley and miami) so it has a proven track record both in mining uranium and copper leaching. |
Posted at 19/11/2013 19:40 by whum is it all a cunning plan to relieve the small investorsof there holdings? |
Posted at 13/11/2013 23:09 by noirua The attraction from IMIC's financial supporters is the cash in the bank of AFFerro.Article dated April 2013 but the basics of the reverse takeover remain the same: Afferro is cash rich with an estimated $70 million to $80 million in the bank. IMIC is likely to get a bridging loan to achieve the $100 million cash needed to execute the takeover. It raised $15 million last week through a bond issue to institutional investors; so we expect the remaining money to be borrowed using Afferro's assets and cash as security. That would still leave IMIC without any money to advance Afferro's operational assets. decision-time-for-af Sundance ASX:SDL has A$44 million in the bank but it represents all debt. Also the company's board are a quite heavyweight outfit not ready to quietly step aside. A bid is unlikely here as SDL directors are planning the course for the company and a bid would have to be around $500 million. WAFM are not coming up with a decent resource as yet. That leaves AFFerro as the only viable non-expensive major iron ore asset in the Cameroon, up for grabs. |
Posted at 25/10/2013 12:54 by brettmo SDL continues upwards and there is some excitement about why. This is because following this announcement below, Sundance is having its name linked as a target. I have no evidence of this but it hurts to see AFF being sold cheaply when the big players are now active in the wings.Ex-Xstrata CEO Davis Raises $1 Billion From Noble, TPG By Firat Kayakiran - Sep 30, 2013 5:43 PM GMT Mick Davis, former chief executive officer of Xstrata Plc, raised $1 billion from Noble Group (NOBL) and private-equity fund TPG to start a resources company. Noble, Asia's largest raw-materials trader, and TPG agreed to each invest $500 million in the new company X2 Resources, according to a statement today from X2 Partners, founded by Davis and former Xstrata Chief Financial Officer Trevor Reid. Enlarge image Former Xstrata CEO Mick Davis Mick Davis, former chief executive officer of Xstrata Plc. Photographer: Gianluca Colla/Bloomberg X2, also in talks with other potential investors, will use the funds to start a diversified mining and metals group. Davis, 55, and Reid, 52, were part of the team that set up Xstrata, a company that grew 100-fold to a market value of about $50 billion after 10 years of mergers, acquisitions and expansion. "This is a great time to acquire assets in the mining sector," said John Meyer, an analyst at London-based share price Angel Corporate Finance LLP. "The majors continue to offer sub-scale assets, including some better quality but smaller operations as they refocus on their larger cash generators. ''Investors who follow Davis and other turnaround specialists in the sector could make a killing,'' he said. Barrick Gold Corp. (ABX) ex-CEO Aaron Regent and former JPMorgan Chase & Co. banker Lloyd Pengilly are among those raking through unexploited mining assets. BHP Billiton Ltd. (BHP) and Rio Tinto Group (RIO) are leading asset disposals and may sell businesses and stakes amounting to as much as $35 billion, Deutsche Bank AG says. |
Posted at 07/8/2013 08:57 by parthus ASX Announcement7 August 2013 Sundance issues tender documents for Mbalam-Nabeba Project Sundance Resources Ltd (ASX: SDL) advises that it has commenced issuing tender documents relating to financing and construction of the infrastructure for its Mbalam-Nabeba Iron Ore Project ("the Project"). Tender documents for the Project's port and rail infrastructure are being provided to a number of International Engineering, Procurement and Construction ("EPC") contractors that have proven track records in building successful projects of large scope and scale. Six of these groups are Chinese. Sundance will also issue term sheets for Project equity and take-or-pay contracts over iron ore produced at Mbalam-Nabeba. The Company envisages that the negotiations for the take-or-pay contracts and Project equity agreements will be completed this calendar year. Sundance Managing Director Giulio Casello said the tender process was a pivotal step in the development of the Project. "The interest shown in our Project from a wide range of potential investors, constructors and customers has been outstanding," Mr Casello said. "This reflects both the high quality of the resource and the advanced nature of the Project, which is now well and truly poised for development. "We are aiming to ensure that the Project is in production in time to capitalise on the supply shortfall which we believe is set to emerge in the global iron ore market around 2017-2018." Sundance has held discussions with all the parties that will receive the tender documents and the Company is encouraged by the strong interest that has been expressed by parties in playing a role in developing this world-class, high-grade iron ore project. ENDS Released by: Giulio Casello CEO and Managing Director Sundance Resources Limited Shareholder/Media Inquiries: Jill Thomas Investor Relations Manager Sundance Resources Telephone: +61 8 9220 2300 Email: info@sundanceresourc Paul Armstrong |
Posted at 28/5/2013 10:16 by gheebee On another completely different matter. For those thinking of hedging both sides and buying into IMIC, you will not be alone and not the first (and nothing wrong with any of that either):African Aura Mining (AIM: AAAM) told investors that a Geneva-based asset manager Banque Bénédict Hentsch & Cie SA has become one of the company's largest shareholders. The Swiss investor bought 2.7 million shares, representing approximately 3.8% of the company, between 20th and the 22nd April 2010. from http://www.proactive \"IMIC only had around £9m in cash at the end of November 2012. But the infrastructure development group has other heavy hitters behind it, besides Chinese business. IMIC raised $50m (£31m) in an unsecured bond offering in October to unnamed investors, some of whom were likely to be a group of high net worth individuals who picked up 25 per cent of IMIC\'s shares in earlier private placements and hold their interest in a nominee account with Banque Benedict Hentsch, a private bank in Geneva.\" from my broker |
Posted at 27/5/2013 18:23 by deltrotter MARKETS SPECTATOR: Sundance boogieBrett Cole27 May, 1:46 PM Markets ASX Sundance Resources is in discussions with Chinese, Indian, European and North and South American investors who may be interested in taking a stake in its $775.4 million African iron ore project, a person familiar with the matter told Markets Spectator. The person, who spoke on condition of anonymity, would not disclose which companies are speaking with Sundance or how much they are prepared to invest in the Sundance project which straddles the border of Congo and Cameroon. The Mbalam-Nabeba iron ore project has 57.2 per cent Fe, or iron content, according to a Sundance ASX statement. At 1322 AEST Sundance shares rose 0.9 of a cent, or 11 per cent, to 8.9 cents, after earlier rising as much as 1 cent, or 13 per cent, to 9 cents. Sundance has been in discussions with potential investors for about two months following the collapse of Hanlong\'s takeover offer in April after a scandal engulfed the Chinese group. Sundance shares have plummeted 76 per cent this year, according to Bloomberg data. Sundance sad in an ASX statement today it had "been approached by numerous groups" and discussions were "underway with strategic investors who have expressed interest in playing a key role" in exploiting the Mbalam-Nabeba iron ore deposits. Read more: http://www.businesss |
Posted at 25/5/2013 12:25 by l234244 Thanks for the insight Nick. Whether disappointed or not Luis still has been involved in scamming investors. I know people here regard him as a top notch guy but clearly if he has not been directly involved in deceiving investors he has thrown a blind eye to it. Since Christmas there has been shenanigans that can not be explained. Your only as good as your last deal, the Putu deal in my eyes was good as it give us the money to progress Nkout and other licences, however what a waste of time that was if a year later you sell up for such a minimal amount.If Luis was as honest as people say he is he would come out and say we failed to find the investment needed and relied too much on the Sundance/Hanlong situation to provide the infrastructure we need. Due to this along with pressure from Cameroon government/II investors we are recommending an offer from IMIC. Trying to tell us this is good value is a load of rubbish. |
Posted at 25/5/2013 11:33 by nickdr99 I spoke to Luis during the week without giving verbatim on what he said, I think it reasonable to share some of my thoughts after a fairly lengthy discussion.Firstly I made it clear I was extremely disappointed with the outcome I didn't understand why this deal, why now, why shareholders are being given no upside (in the event the new entity is a success) and why the communications to shareholders has been so poor. Luis was generous with this time and clearly has been speaking to a lot of shareholder over the last few days including many who populate this BB I am sure, as well as obviously the institutional investors. If anybody wants to speak to him, I am sure they can call the company and stand a reasonable chance of getting through. Like it or not, the company has recommended the deal and needs shareholders to approve it and retail investors are most likely not to. I think (my view) the company is under pressure to do a deal to give investors an exit which I assume means the IIs who have redemptions to fund. If a deal could not be done with POSCO, and it feels like while they are very interested in the resources, they seem less interested or able to do a strategic deal of the scale needed, then (particularly after SDL/Hanlong) IMIC are it seems the only game in town. If IMIC have made an offer it needs to be put to shareholders which is fair enough. Not got clarity on why the board recommended it, other than perhaps they don't see an alternative partner any time soon and did not feel they could struggle on even with the cash to a DFS. Maybe the ntem go it alone strategy is not as viable as it sounds but I didn't get anything from Luis on that. IMIC clearly have grand plans LdS did not elaborate other than the deals/MOUs they have already announced but have read elsewhere they want to build to SDL, so seems we are but a small part of the master plan and it makes sense for the company to be part of that. Will this serve the BoD personally well, I don't know but you have to assume so. As he has said elsewhere, LdS was at pains to stress how bad the resources market is and while it might get better, it might get worse too. £1.26 might seem like a great deal in a years time, though of course it might equally not. I suspect IIs are ok with 80p and take a risk on the loan notes if they need the money now and won't/can't see out the sector cycle. He quoted Alderon as he has before and how despite a strategic deal, off take, FS etc, the shares are still bombed out mcap of $135m with a ton of cash so is $190m/$115m net of cash actually a bad deal. As Del has mentioned, i believe the details are still being finalised in terms of the loan notes and how these are secured (or not) or if they will be tradable. It's clear the company is getting a lot of feedback on this and are still working with IMIC (or waiting to hear from them) on some of the detail. I described them as having zero value, but I got the impression LdS is more positive than that (guess he has to be) but we need to see how and if they can be underpinned. I stressed I did not like the fact that if the market values the assets perhaps now to be un-stranded at multiples of what it does today, then we get no upside. Don't expect movement on this. I am still disappointed, but do feel better for speaking to Luis. I don't think he has changed from the decent guy/CEO we mostly believe(d) him to be, and I got the impression he is genuinely disappointed that we are where we are, but also not sure he or the company have the choices we would like to think they have. Hopefully I have not breached any confidences, but felt it important to share something and these are my thoughts and conclusions (and I could be wrong) With so many frustrated and disappointed hope this perspective helps (a tiny bit). |
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