Share Name Share Symbol Market Type Share ISIN Share Description
All Asia LSE:AAA London Ordinary Share VGG017801082 ORD NPV (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 2.00p 1.50p 2.50p 2.00p 2.00p 2.00p 0 08:00:04
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 0.0 1.1 0.5 4.0 4.24

All Asia Share Discussion Threads

Showing 151 to 175 of 450 messages
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DateSubjectAuthorDiscuss
21/9/2005
10:18
Three recent (19 Sept) interesting posts on the Canada BB.
jonwig
16/9/2005
12:02
This is quite interesting, especially as it's an African source. AAA isn't mentioned, though: Turning Congo's mineral 'curse' into a rainbow of hope http://www.miningweekly.co.za/min/news/thisweek/?show=73775
jonwig
16/9/2005
11:47
but the zinc could be interesting. from the zinc thread... McBeanburger - 9 Sep'05 - 10:56 - 207 of 217 adastra... 16.7% zinc 2.32% copper zinc 0.6 a pound copper 1.6 a pound 2000 pounds in a short tonne ? can't remember. therefore zinc 1200 p/t copper 3200 p/t matchbox guess: 16.7% of 1200 = $200.4 p/t 2.32% of 3200 = $74.24 p/t Total p/t = 274 bucks.... hmm not bad at all. wat they got in the ground? 16900000 x $274 = $4,634,656,000.00 depends onthe terms of agreement but let's say 5% $231,732,800.00 hmmm http://www.advfn.com/cmn/fbb/thread.php3?id=1183527&from=205 and from the eka thread... rambutan2 - 11 Sep'05 - 22:33 - 19 of 19 edit Today thanks to the scientific study of new age band catalysts, and Molybdenum Oxide, Nickel, Iron & Cobalt compounds in particular, we now have catalysts that are helping refiners meet the stringent EPA & EEU pollution emission standards recently established. http://www.advfn.com/cmn/fbb/thread.php3?id=8999862&from=70 should help cobalt demand. i know ive seen something on potential of cat mkt on cobalt before, but cant remember where.
rambutan2
16/9/2005
11:44
yes! i know that endiama are not popular amongst the mining cos. cant believe anything will come of it, but you never know - sort of legal blue sky!
rambutan2
16/9/2005
11:37
Hello ram2. Yes, I read (sorry, skimmed) them earlier and felt the same. The last bit about the postal system is at least entertaining.
jonwig
16/9/2005
11:29
3rd quarters out, not really anything new... Kolwezi Project, DRC During the nine months ended July 31, 2005, the Company concentrated primarily on advancing its Kolwezi Project. The first phase of the Definitive Feasibility Study ("DFS"), a scoping study analyzing different production levels, was completed. It was concluded that the initial design capacity of the plant should be to produce 5,500 tonnes of cobalt and 30,000 tonnes of copper annually, and work is now underway to complete the DFS on that basis. Work continued on the second stage of the Environmental and Social Impact Assessment, and, in May, an Environmental Adjustment Plan ("EAP") was submitted to the regulatory authorities in the Democratic Republic of Congo ("DRC"). During August 2005, the Company received approval of the EAP from the DRC Ministry of Mines' Direction chargee de la Protection de l'Environnement Minier ("DPEM"). The letter accompanying the "favourable environmental opinion" noted that the work on the EAP had been very substantial and "particularly diligent". The approval of the EAP is the official acknowledgement that the proposed development of Kolwezi satisfies the requirements of the DRC Mining Code, and associated regulations, and may proceed. During the nine-month period, work continued on the negotiation of long term cobalt sales agreements and marketing arrangements, and on preparations for project financing, including the issuing of a Preliminary Information Memorandum to potential lenders to the Kolwezi Project. In late November 2004, the Industrial Development Corporation of South Africa Limited ("IDC") informed the Company that, subject to certain conditions, including receiving exchange control permissions from the South African Reserve Bank ("SARB"), it would be exercising its option to acquire 10% of the Kolwezi Project. On May 16, 2005, the Company announced that the World Bank Group's Board of Executive Directors had approved a proposed investment by its private sector arm, and as a result the International Finance Corporation ("IFC") would also be exercising its option and would acquire a 7.5% equity interest in the project. In August 2005, the IDC informed the Company that it had received the necessary SARB approvals. The IDC and the IFC will acquire their equity interests at prices based on the allowable expenditures on the Kolwezi Project up to the date of exercising their respective options, and will pre-fund their proportions (as financially contributing shareholders) of the estimated costs of progressing the project to a financed go-ahead decision. On completion of the IDC and IFC option exercises, the Company's wholly-owned subsidiary, Congo Mineral Developments Limited, expects to receive approximately US$12 million in cash. During the nine-month period ended July 31, 2005, the Company appointed Sullivan & Cromwell to advise on the legal aspects of the financing of the Kolwezi Project, and Aon to advise on the insurance aspects of the project. During August 2005, the Company announced that the Board of Directors of its subsidiary Kingamyambo Musonoi Tailings S.A.R.L. ("KMT"), in DRC, had unanimously resolved that KMT become a signatory of the Extractive Industries Transparency Initiative ("EITI"). The EITI's objective is improved governance in resource-rich countries through the full publication and verification of all payments to governments by companies in the oil, gas and mining sectors and a corresponding publication of all receipts from the natural resource sectors by governments. The DRC Government has endorsed the EITI and is currently considering how best to implement the initiative. KMT will be the first mining company in the DRC to join the EITI. Kipushi Project, DRC In the 2003 financial year, the Company and La Generale des Carrieres et des Mines ("Gecamines") agreed that priority should be given to finalizing the Kolwezi Contract of Association ("CoA"). Following the execution of the Kolwezi "CoA" in March 2004, negotiations on the proposed revisions to the Company's agreement with Gecamines with respect to the potential re-development of the Kipushi zinc/copper mine (the "Gecamines Agreement") were planned to recommence. Meetings were, however, postponed until after the end of financial year 2004, pending Gecamines' detailed review of, and response to, the proposals previously submitted by the Company. Gecamines' response was received during the quarter ended January 31, 2005, and, following discussion as to the appropriate way to take the Kipushi Project forward, the Company began a technical and economic reassessment of the project during the quarter ended July 31, 2005. This reassessment will be followed by negotiations to finalize the revisions to the Gecamines Agreement. Once agreement on the revisions has been reached, and necessary approvals have been obtained from the government of the DRC, the Company expects that a full feasibility study of the project will be undertaken. In August 2005, the Zincor Joint Venture Agreement ("ZJVA") with Kumba Base Metals Limited ("Kumba"), that had expired on March 31, 2005, was renewed, with effect from March 31, 2005. Under the ZJVA, Kumba can earn a 50% shareholding in the Company's interest in the Kipushi Project. Angola Project During the year ended October 31, 2004, the Company found it impossible to progress matters further with Endiama E.P. ("Endiama") in relation to the Company's rights with regard to two mineral properties in Angola. In September 2004, it became clear that Endiama had repudiated its contractual obligations and the Company announced that it would seek legal redress. The filing of the suit was delayed pending the outcome of representations at senior government levels. When no response was received, the Company filed a legal suit against Endiama in the United States of America, on May 18, 2005. The U.S. court requires service of the suit on Endiama in Portuguese, sent through official postal channels. Although the requisite documents were sent to Endiama by international registered mail, no confirmation of delivery has been received from the Angolan postal service, and the Company has now applied to the court for substituted service, via courier. http://www.companyannouncements.net/cgi-bin/articles/200509160700163542R.html
rambutan2
11/9/2005
22:33
also, from your eka thread... Today thanks to the scientific study of new age band catalysts, and Molybdenum Oxide, Nickel, Iron & Cobalt compounds in particular, we now have catalysts that are helping refiners meet the stringent EPA & EEU pollution emission standards recently established. http://www.advfn.com/cmn/fbb/thread.php3?id=8999862&from=70 should help cobalt demand. i know ive seen something on potential of cat mkt on cobalt before, but cant remember where.
rambutan2
11/9/2005
22:21
from the zinc thread... McBeanburger - 9 Sep'05 - 10:56 - 207 of 217 adastra... 16.7% zinc 2.32% copper zinc 0.6 a pound copper 1.6 a pound 2000 pounds in a short tonne ? can't remember. therefore zinc 1200 p/t copper 3200 p/t matchbox guess: 16.7% of 1200 = $200.4 p/t 2.32% of 3200 = $74.24 p/t Total p/t = 274 bucks.... hmm not bad at all. wat they got in the ground? 16900000 x $274 = $4,634,656,000.00 depends onthe terms of agreement but let's say 5% $231,732,800.00 hmmm http://www.advfn.com/cmn/fbb/thread.php3?id=1183527&from=205
rambutan2
11/9/2005
22:08
Kumba JV Renewal RNS Number:0509R Adastra Minerals Inc 09 September 2005 NEWS RELEASE Adastra Renews Kipushi Joint Venture with Kumba and Commissions a Technical and Economic Reassessment Trading: TSX and AIM:AAA LONDON, U.K. (September 9, 2005) -- Adastra Minerals Inc. ("Adastra" or "the Company") today announced that it has renewed its Joint Venture Agreement with Kumba Base Metals ("Kumba") for the potential redevelopment of the Kipushi zinc/ copper mine (the "Kipushi Project"). The Kipushi mine is located in the south of the Democratic Republic of Congo (" DRC"), 30 km south-west of Lubumbashi, adjacent to the Zambian border. Under the terms of the Joint Venture, Kumba, a wholly-owned subsidiary of Kumba Resources Limited, can earn a 50% shareholding in the Company's interest in the Kipushi Project. In addition, a technical and economic reassessment of Kipushi is underway to determine its potential commercial viability in current market conditions, to appraise the mine's physical condition, and to identify key areas for detailed investigation in a subsequent Feasibility Study and associated Environmental and Social Impact Assessment. In addition to updating and re-evaluating previous studies, the reassessment will consider a range of possible concentrate products and evaluate the production of calcine and sulphuric acid. LQS International has been appointed to co-ordinate the technical aspects of the reassessment and SRK Consulting has been appointed to conduct an environmental and social scan. The reassessment is expected be completed in early November. "Kipushi is a high grade zinc/copper resource that we are eager to bring to value," said Tim Read, President and CEO of Adastra. "We are delighted that the joint venture with Kumba has been renewed. The economic reassessment will be a key step towards concluding detailed commercial arrangements with Kipushi's owner, La Generale des Carrieres et des Mines ("Gecamines")." About the Kipushi Project The Kipushi mine is a world-class deposit, with a measured and indicated resource of 16.9 million tonnes (measured: 8,932,231 tonnes; indicated: 8,029,127 tonnes) at an average grade of 16.7% zinc (measured: 10.07% zinc; indicated: 24.21% zinc) and 2.32% copper (measured 2.53% copper; indicated: 2.09% copper), as calculated by Gecamines and verified by Charles Carron Brown of Techpro Mining and Metallurgy, a "qualified person" as defined by the Canadian Securities Administrators' NI 43-101. The deposit is open along strike and down dip. Zinc and copper were produced at the mine from 1925 to 1993, but production ceased because of a lack of foreign currency and operating supplies. Adastra has an exclusive option to submit a proposal for the redevelopment of the Kipushi zinc-copper mine. About Adastra Adastra Minerals is an international mining company listed on the Toronto Stock Exchange and on AIM, in London, under the symbol "AAA". It is currently developing several mineral assets in Central Africa, including the Kolwezi copper/cobalt project in the DRC. Adastra's growth strategy emphasises the creation of shareholder value through the development of world-class resources in stable or stabilising political environments. About Kumba Kumba Resources Limited, one of the largest South African-based mining companies listed on the Johannesburg Securities Exchange, is a focused metals and mining company with a diverse commodity portfolio consisting of iron ore, heavy minerals, coal, base metals and industrial minerals. Included in Kumba's portfolio of assets is the large low cost Zincor refinery near Springs in South Africa with a production capacity of some 120ktpa of refined Zinc. Kumba is committed to progressing the Kipushi project for the mutual benefit of all parties and, most importantly, the people of the DRC. Contact us: London Tim Read Justine Howarth / Cathy Malins Chief Executive Officer Parkgreen Communications T: +44 (0)20 7355 3552 T: +44 (0)20 7493 3713 F: +44 (0)20 7355 3554 F: +44 (0)20 7491 3936 E: london@adastramin.com E: justine.howarth@parkgreenmedia.com South Africa Kumba Resources Doug Taylor Acting General Manager Strategy and Business Development T: +27 (12) 307 4012 F: +27 (12) 307 4092 E-mail: doug.taylor@kumbaresources.com North America Martti Kangas The Equicom Group T: +1 416 815 0700 x. 243 +1 800 385 5451 (toll free) F: +1 416 815 0080 E: mkangas@equicomgroup.com This News Release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 concerning the Company's plans for its principal properties in the Democratic Republic of Congo ("DRC"). These forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation, risks and uncertainties relating to political risks involving the Company's operations in the DRC and the policies of other nations and organizations towards companies doing business in such jurisdictions, the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations, the inability or failure to obtain adequate financing on a timely basis and other risks and uncertainties, including those described in the Company's Annual Report on Form 20-F for the year ended October 31, 2004 and Reports on Form 6-K filed with the Securities and Exchange Commission. This information is provided by RNS The company news service from the London Stock Exchange END JVEBIGDCDBGGGUI
mr ashley james
11/9/2005
22:07
http://www.mineweb.net/columns/african_renaissance/474588.htm A golden age for the Congo? By: Jim Jones 21-AUG-05 JOHANNESBURG (Mineweb.com) -- The Royal Bank of Canada and its investment subsidiary, RBC Capital Markets (RBCCM), form parts of a highly conservative financial group. So when RBCCM reports on what it believes to be a promising new investment environment, the big picture, it is appropriate to pay attention, to pay the sort of attention that can often make winners of early-bird investors. Earlier this year, RBCCM took an overview of the Democratic Republic of Congo, the former Zaire, a country that suffered decades of civil war and pillage by a series of venal governments, insurgents and foreign carpetbaggers. The country had been left comparatively underdeveloped in the early Sixties when its former colonial ruler, Belgium, ceded independence, At that stage the DRC was a leading minerals producer, as the RBCCM report pointed out. That was scarcely surprising, given the enormous territory's vast mineral resources. In round figures, RBCCM reckons that the DRC has some 80% of the world's reserves of coltan (columbo-tantalite), an essential feedstock for making the tantalum used in every cellphone and in most other pieces of portable electronic equipment. The DRC also has massive reserves of diamonds – mostly industrial-quality it should be conceded – that helped fund the civil unrest that plagued the country almost from the moment of independence. It also has an estimated 10% of the world's copper resources. And all of these are starting to be exploited by a range of mining companies from as far afield as South Africa, Canada and Australia. They are exploring and starting to exploit comparatively well-known mineral zones. And then there are others who are taking an even-longer view and entering what might be described as virgin territory. But more of this later. As RBCCM and others report, The world does not depend on the DRC for critical minerals. The DRC might, for example have four-fifths of the known tantalum ore, but enough is available from countries such as Australia and Egypt to keep the likes of Nokia adequately supplied. And other countries as well as synthetic diamond makers can supply the industrial diamonds that industry needs. Yes, but to qoute RBCCM, the Kasai craton in the south central region of the DRC, forms an extension of the Angolan diamondiferous craton. And it is starting to be exploited by the likes of SouthernEra Diamonds, Gravity Diamonds, BRC Diamonds, and MIBA (La Société Minière de Bakwanga). The fact is that Congolese deposits of several minerals are rich, very rich. The cobalt resource is just such a case in point. And, in some cases, those resources are potentially massive and under-explored. Their geology is correct. Less well known or as completely understood, however, are the vast Kilo-Moto and Twangiza-Namoya gold belts of, respectively, the north-eastern and eastern regions of the country. They were exploited several decades ago, often by relatively simple methods – small miners often scratching the surface or operating shallow mines. The newcomers are more methodical. AngloGold Ashanti and Moto Gold Mines are already establishing properties on the Kilo-Moto gold belt while Canada's Banro appears to have staked out some of the most important areas in the Twangiza-Namoya zone. To quote RBCCM: The Congo Craton is Africa's largest under-explored region in terms of Archaean geology, and host to two major gold belts; the Kilo-Moto gold belt and the Twangiza-Namoya gold belt. • Kilo-Moto: it is reported that 11 Moz has been produced from the Moto and Kilo areas since 1906. In the Moto region there were at least 10 old mines, which were responsible for the bulk of the +3..0 million ounces of gold produced in the Moto region. The two largest mines were: – The Agbarabo mine, produced 600,000oz of gold at an average grade 39g/t; the Gorumbwa mine, produced 1.2 million ounces at an av. grade of 22g/t. – Moto Mines (inc JV partners) currently defined a resource of 4.3 million ounces of gold. • Twangiza-Namoya: The gold belt is 210km long and is located in the prospective Proterozoic and Archean age rocks. Mining activities on this belt date back to the 1900's. Four principal areas: Twangiza – alluvial gold mining operations carried out during the 1950s; Kamituga – by the 1960s 850,000 ounces were mined from alluvials; Mobale mine produced 804,000 ounces between 1936-1996; Lugushwa – between 1958-1996, alluvial and primary mining produced 457,000 ounces; Namoya – alluvial mining between 1993-1947, primary mining 30,000 ounces a year over 5 years (ceased 1961) – Banro Corp. currently has defined a resource of 8.02 Moz of gold. But as RBCCM points out, the two major gold belts are likely to contain significantly more gold than the resources that have been proved so far. In other words, we could be looking at significant gold-production zones. But there is another caveat – politics. The DRC is far more stable under its present government and under the political consensus that is currently emerging. But it is riskier than other, established, gold-producing countries. Crucially, risk has to be balanced by adequate potential reward. Which is why RBCCM prepared its recent country report. Basing its findings partly on another report by Canada's respected Fraser Institute consultancy, RBCCM makes the points that: The mineral wealth of the country needs no further justification as the DRC offers some of the most prospective mineralization across a wide variety of minerals in Africa. • In our opinion, the mineral potential goes some way to offset the country risk, a view supported by the Fraser Institute's recent findings. • There has been much progress in restoring socio-political stability in the DRC, with the UN, Paris Club, World Bank, IMF, USAID and South Africa have committed substantial financial and peace keeping resources. • However, until there are free elections in the DRC, political uncertainty remains, but the current power-sharing transitional government has gone a long way to fostering peace in most parts of the country. • Much of the DRC remains unexplored by modern geological techniques presenting opportunities for major resource discoveries. • Opportunities exist to re-evaluate development projects and mines neglected through mismanagement and disrupted by civil war. The DRC shows all the signs of emerging from the decades of strife and pillage that ruined its economy, infrastructure and social structures. In this, it is not unlike a number of other African nation states, but it differs from many in the sheer magnitude of its mineral potential. The prospective rewards could well more than compensate for non-economic risks that have been and that are steadily diminishing.
mr ashley james
09/9/2005
08:51
it's a giant but old mine - lots of flooding. but with zinc at these levels is certainly worth a proper look at whether they can make a new go of it. if i remember rightly, the main prob is the smelting situation - they a long way from that Zincor refinery near Springs in South Africa.
rambutan2
09/9/2005
07:32
Adastra Renews Kipushi Joint Venture with Kumba and Commissions a Technical and Economic Reassessment Kumba Base Metals seems big enought to matter, and help move things forward in one of the 'other' projects, Kipushi Joint Venture. I don't know much about this one. Link in header.
jonwig
02/9/2005
23:18
Ash, Would appreciate your view in RVD River Diamonds. Post over there if it's positive, here if negative :) Thanks.
exotic
02/9/2005
22:33
Thanking Jonwig for link from other AAA Thread. http://allafrica.com/stories/200509010110.html Adastra Gets Jungle Fever As Congo Plans Flower Business Day (Johannesburg) September 1, 2005 Posted to the web September 1, 2005 Charlotte Mathews Johannesburg COPPER and cobalt company Adastra Minerals' $300m Kolwezi cobalt and copper tailings deposit in Democratic Republic of Congo is attracting a high level of interest from South African financiers. Adastra chief operating officer Bernard Pryor says the project, which will represent one of the biggest investments in mining in Africa outside SA, will obtain most of its equipment and finance from SA. The attractions of the project, from the banks' and credit guarantee agencies' point of view, is that it satisfies their lending risk profiles. Although copper and cobalt prices have strengthened dramatically since Adastra first won the international tender for Kolwezi about seven years ago, the mining project is robust even at a long-term copper price of about $0,90/lb. Currently, copper is trading at about $1,70/lb. Kolwezi is expected to produce 30000 tons of copper and 5500 tons of cobalt a year over its 53-year lifespan, from two dams containing 112,8-million tons of oxide tailings. The project will help rehabilitate a seriously degraded area, including a watercourse. At full production it will employ about 800 people from a nearby town, which has an unemployment rate of about 90%. Last week the tailing project's environmental adjustment plan was approved by the Congo's mines ministry. Pryor says one of the attractions of Kolwezi compared with South African new mining projects is that both its costs and its revenues are dollar-based. Management of Adastra, a junior mining group, has been knocking on banks' doors for years and has been careful to "underpromise and overdeliver", Pryor says. Obviously, hitches arise in a project of this nature but Adastra has been pragmatic in its predictions, he says. Adastra's chief operating officer says he is positive about the operating environment in the Congo. He says he believes that the country's new government is not yet receiving the international recognition it deserves for its achievements, and moves towards stability. Since Joseph Kabila became president in mid-2003, previously warring factions have united into a fledgling democracy. War continues in the northeast and this appears to be an intractable problem, but the remainder of the country is peaceful with lower crime than SA. The Congolese government has brought down inflation from 300%-400% to single digits and put in place a mining code that establishes a transparent and level playing field for all investors. The code lays down procedures for applying for licences, royalties and taxes. Previously, mining investments were negotiated on a case-by-case basis in the Congo. Around Kolwezi, Adastra's project enjoys good rail, power and water infrastructure. To date, Adastra has secured equity participation in the Kolwezi project from the International Finance Corporation, an arm of the World Bank, which has taken a 7,5% stake, and from SA's Industrial Development Corporation, which has taken 10%. Both have proven helpful and influential partners and it will be surprising if they do not help with debt finance, Pryor says. The next steps, now Congolese environmental approvals have been secured, will be to convert the environmental report into an internationally recognised format and to complete a definitive feasibility study. Adastra is also negotiating to secure offtake contracts and financing through debt and equity. It is expected that financing will come from a range of sources, including an issue of new shares, but Pryor says Adastra will ensure its current shareholders are diluted as little as possible. With strong support from European and North American institutions -- Adastra is listed on London's Aim and the Toronto Stock Exchange -- Pryor says there are no plans at present to apply for a listing on the JSE.
mr ashley james
02/9/2005
07:54
Dated yesterday, share price obviously hasn't heard, doesn't care: COPPER and cobalt company Adastra Minerals' $300m Kolwezi cobalt and copper tailings deposit in Democratic Republic of Congo is attracting a high level of interest from South African financiers. Adastra chief operating officer Bernard Pryor says the project, which will represent one of the biggest investments in mining in Africa outside SA, will obtain most of its equipment and finance from SA. The attractions of the project, from the banks' and credit guarantee agencies' point of view, is that it satisfies their lending risk profiles. and lots more: http://allafrica.com/stories/200509010110.html
jonwig
01/9/2005
21:17
Rambutan, Spoke to Bernie Pryor recently, pretty tight lipped when I asked him about Internal Rate Of Return on the Kolwezi Project eventually I got a "Robust comment. To be fair I am sure the IRR does exceed my 30.00% Cutoff and is "Robust". I note Cash costs are US$2.15 Lb Cobalt, and US$0.37 Lb Copper so I guess I am going to have to do my own numbers based on planed US$316,000,000 Project Finance I guess I am going to assume something like US$250,000,000 Debt and US$66,000,000 Equity at a guess. I reckon they will be able to pay back US$250,000,000 within 5 Years out of Revenue assuming US$50,000,000 CAPEX Repayment and Interest in the US$17,500,000 to US$25,000,000 Range assuming 5 year payback. Production 42,000 Mt Cu pa and 7,700 Mt Co pa I come out at Co US$16.60 Lb at US$281,790,130 plus Cu at US$1.75 Lb at US$162,037,038 ie combined Revenue of US$443,827,168 pa at current Commodity prices. Cash costs add up to producing 42,000 Mt (92,592,593 Lbs) of Cu at US$0.37 Lb=US$34,259,260 per annum and 7,700 Mt (16,975,309 Lbs) of Co at US$2.15 lb US$36,496,915 per annum. So Annual Total Combined Cash Costs come to US$70,756,175 pa It looks like at full production and the current level of Commodity Prices you could pay back the Debt and Interest out of combined Revenue of US$443,827,168 within 12 months because Revenue less Cash Costs leaves US$373,070,993 and required total CAPEX is only US$316,000,000 so reckon IRR will be around 100% IMHO Will Run the numbers at 20% Discount current commodity prices and discount future cash flows by 10% and see the results! All IMHO, NAG, DYOR etc, etc Cheers Ash:)
mr ashley james
29/8/2005
11:37
from minesite weekly round-up... Another good performer was Adastra Minerals which announced that it had received approval from the Ministry of Mines in the DRC of the Environmental Adjustment Plan relating to the Kolwezi project in less than three months. This effectively gives the go-ahead to the project and the shares rose by 8 per cent to 75p.
rambutan2
25/8/2005
14:47
Rambutan, IMHO Because Broker at NUMIS on holiday at moment, no other reason, I do not think it has been promoted post November IPO basically. Cheers Ash:)
mr ashley james
25/8/2005
10:58
all publicity is good etc etc... Adastra DRC Subsidiary to Join Extractive Industries Transparency Initiative Trading: TSX and AIM: AAA LONDON, U.K. (August 25, 2005) -- Adastra Minerals Inc. ('Adastra') announces that the Board of Directors of its subsidiary Kingamyambo Musonoi Tailings Sarl ('KMT'), which owns 100% of the Kolwezi Cobalt and Copper Tailings Deposit (the 'Kolwezi Project') in the Democratic Republic of Congo ('DRC'), has unanimously resolved to become a signatory of the Extractive Industries Transparency Initiative ('EITI'). http://www.companyannouncements.net/cgi-bin/articles/200508250700174665Q.html
rambutan2
25/8/2005
10:34
DRC Subsidiary to join EITI RNS Number:4665Q Adastra Minerals Inc 25 August 2005 Adastra DRC Subsidiary to Join Extractive Industries Transparency Initiative Trading: TSX and AIM: AAA LONDON, U.K. (August 25, 2005) -- Adastra Minerals Inc. ("Adastra") announces that the Board of Directors of its subsidiary Kingamyambo Musonoi Tailings Sarl ("KMT"), which owns 100% of the Kolwezi Cobalt and Copper Tailings Deposit (the "Kolwezi Project") in the Democratic Republic of Congo ("DRC"), has unanimously resolved to become a signatory of the Extractive Industries Transparency Initiative ("EITI"). The EITI is a coalition of governments, companies, civil society groups, investors and international organisations. Its objective is improved governance in resource rich countries through the full publication and verification of all payments to governments by companies in the oil, gas and mining sectors and a corresponding publication of all receipts from the natural resource sectors by governments. Resource rich countries implementing the EITI can benefit from an improved investment climate by providing a clear signal to investors and the international financial institutions that the government is committed to strengthening transparency and accountability over natural resource revenues. In turn this will permit a greater scrutiny by civil society of governments' stewardship of financial resources. The Government of the DRC has endorsed the EITI and is currently considering how best to implement the intiative. KMT will be the first mining company in the DRC to join the EITI. "We believe that a high level of transparency is crucial for any mining company operating in a developing country. We are therefore very committed to the principles laid out by the EITI, which will help to engender trust and dialogue between all stakeholders in mining revenues," said Tim Read, President and CEO of Adastra. "The Government of the DRC has committed itself to creating an environment conducive to private-sector led growth, as evidenced by the forthcoming democratic elections, the promulgation of the new mining code, and the establishment of macro-economic stability leading to the renewal of economic growth. We believe the implementation of the EITI will provide further evidence to the international business community that the DRC is open for business." About the Kolwezi Project Adastra's Kolwezi Project consists of two dams containing 112.8 million tonnes of oxide tailings, grading 1.49% copper and 0.32% cobalt, as determined by Dr. Isobel Clark of Geostokos Limited, a "qualified person" as defined by the Canadian Securities Administrators' NI 43-101. This resource has the potential to host one of the world's largest and lowest cost cobalt producers. Such a project would generate significant tax and foreign exchange earnings, as well as providing local employment and contributing to the revival of the DRC's copper belt infrastructure. About KMT KMT is the DRC registered operating company for the Kolwezi Project. It is currently owned 82.5% Adastra, 5% by the Government of the DRC and 12.5% by La Generale des Carrieres et des Mines ("Gecamines"), the government owned mining company. All three shareholders are represented on the KMT Board. The International Finance Corporation (a part of the World Bank Group) and the Industrial Development Corporation of South Africa have confirmed their intentions to exercise options to acquire 7.5% and 10.0% of KMT, respectively, from Adastra, whose shareholding would thereby be reduced to 65%. Both new investors strongly endorse the decision to become signatories of the EITI. About Adastra Adastra is an international mining company listed on the Toronto Stock Exchange and on AIM, in London, under the symbol "AAA". It is currently developing several mineral assets in Central Africa, including the Kolwezi Project and the possible rehabilitation of the Kipushi zinc mine in the DRC. Adastra's growth strategy emphasizes the creation of shareholder value through the development of world-class resources in stable or stabilizing political environments. For further information on the Extractive Industries Transparency Initiative, please review: http://www.eitransparency.org/ Contact us: London Tim Read Justine Howarth / Cathy Malins Chief Executive Officer Parkgreen Communications T: +44 (0)20 7355 3552 T: +44 (0)20 7493 3713 F: +44 (0)20 7355 3554 F: +44 (0)20 7491 3936 E: london@adastramin.com E: justine.howarth@parkgreenmedia.com North America Martti Kangas The Equicom Group T: +1 416 815 0700 x. 243 +1 800 385 5451 (toll free) F: +1 416 815 0080 E: mkangas@equicomgroup.com This News Release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 concerning the Company's plans for its principal properties in the Democratic Republic of Congo ("DRC"). These forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation, risks and uncertainties relating to political risks involving the Company's operations in the DRC and the policies of other nations and organizations towards companies doing business in such jurisdictions, the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations, the inability or failure to obtain adequate financing on a timely basis and other risks and uncertainties, including those described in the Company's Annual Report on Form 20-F for the year ended October 31, 2004 and Reports on Form 6-K filed with the Securities and Exchange Commission. This information is provided by RNS The company news service from the London Stock Exchange END MSCZGGZRRDLGKZM
mr ashley james
25/8/2005
01:02
had been meaning to take a look for a while but hadnt got round to it. on the face of it, does look a rather compelling proposition. in botswana is a big plus. and board looks good too. got cash. near-ish production. plus blue sky aplenty. so why has the price stuck so far below the placing? and there is still a seller out there (i think). i hope to be able to put a few into my isa when sums allow, as i do like copper. one that im not sure what to make of at the mo is another tailings (nickel)job - brr. could do with some maths and thoughts from you for that project. regards rambutan
rambutan2
24/8/2005
17:42
Rambutan, Have you had a look at African Copper Plc LSE/TSE:ACU any thoughts? Cheers Ash:)
mr ashley james
24/8/2005
09:53
yes, interesting. will have a bit of a dig when got a chance.
rambutan2
24/8/2005
07:26
Interesting relevant news article - Congo, cobalt, background: http://tinyurl.com/bafbr
jonwig
23/8/2005
06:55
Gull, yes, it puzzled me. Note the up-move at 2:30pm as soon as Toronto opened. I don't think this sort of thing is an 'arbitrage' opportunity, the spread is usually too wide.
jonwig
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