Additionally, I wouldn't even call the 2023 a full feasibility I would say it's a half done full bankable feasibility lol but that's just my humble opinion. |
Plus, 2019 was like so 2019. A totally different world on steroids.BKM is not an exceptional project. If it was it would be financed by now. It is a starter project (location etc) and everything has to be perfect.But there very well could be exceptional projects on the contract of work, and BKZ isn't looking too shabby. In fact, it's looking a lot like Golden Grove!All imho! |
I think you're comparing essentially a pre feasibility study with a full feasibility, done four years apart, with a once in a hundred year pandemic and once in 50 year war in between them, but crack on kiddoAll imho! |
You’re wasting your time MT, he’s balls deep so will just regurgitate whatever he’s fed by the Telegram lads. |
 D64
Feasibility Studies 2019-2025 - Project Capital Costs (excluding contingencies and before adjustment for inflation):
$192m - 2019 FS-1 - 9.1 year mine life with up to 25ktpa of copper cathode
$208m - 2023 FS-2 - 9.2 year mine life with up to 20ktpa of copper-cathode
Ore and Waste Mined
135m tonnes - 2019 FS - 1.41:1 Strip Ratio
91m tonnes - 2023 FS - 1.37:1 Strip Ratio
Total Proved and Probable Ore Reserves
51.5Mt @ 0.6% Cu for 303kt of contained copper - 2019
40.8Mt @ 0.7% Cu for 270kt of contained copper - 2023
19.5% - 2019 IRR
21.0% - 2023 IRR
'Adopting a higher grade, lower strip ratio mine design will require a smaller mining fleet and workforce leading to notable reductions in infrastructure costs.' DM in today's RNS
Well, the Capital Costs went up by 8% NOT down by adopting a higher grade, lower strip ratio design in 2023 for a very modest improvement in the IRR!
How can the huge additional cost of mining 44m tonnes(48.3%) more ore and waste over the life of the mine in the 2019 FS result in such a small difference in the respective IRR's?
Asia Met RNS - rarely fail to generate more questions than answers ! |
Mount Teide, in reply to your 'analysis' you can't simply compare the previous bfs cathode & prices and mine life without firstly understanding what they told you. For instance you have excluded to understand the reduction in size, reduction in mined material which in turn gives a higher irr and mine life. I'm all for considered debate but at least firstly understand the ethos of what your writing. |
I think they do understand about the share price but have given up by now and just take the fat salary and hope like we do that a miracle will occur. |
I often wonder whether directors of listed companies understand why shareholders invest. For the vast majority, the only reasons would be income or capital appreciation. Many directors seem to think they are doing a good job when the business seems to be progressing from their perspective, but the share price is in a downtrend or even at rock bottom levels (with no sign of any improvement), and there is yet to be any income on the horizon for shareholders. Sadly, I am invested in a number of such companies where extravagant promises have yet to materialize. In one such company (not Asiamet)they have a number of KPI's, all but one showing positive outcomes in the Annual Report, and the shareholders are uniformly negative about the company. The one showing a major negative divergence is, as expected, the share price, and the directors can't seem to understand why shareholders are unhappy.
The other thing that directors don't seem to understand, is that dilution, especially capital raising at a large discount, has a significant negative effect on the share price, both in the short and long term, as the existing asset value is now spread over a larger number of shares.
If I had invested last week for the first time, I would be quite happy with today's announcement. The main cloud on the horizon would be the prospect of a DOID supported raise, likely not too far in the future. It's a catch 22. No money = no progress = no company. On the other hand every dilutive event reduces my share of the company and takes me further from break even.
I'm still waiting for any sign that TM's comment that the company is potentially worth hundreds of millions, if not billions, is on the horizon. I suspect I will be waiting a very long time. |
I think everyone knows that is DOID at a discount - $5m comes this way soon. |
As football managers often say, that's a nice headache to have! Why don't you call the CEO and ask him? |
I didn’t mean where is the money coming from to build the mine, I meant how many more rounds of dilution would be required just to pay Asiamets corporate overheads, seperate to the build costs? |
Now i know you're going to say yeah but where is the money coming from? So, for the perhaps 45th time, nobody knows, yet ! |
I guessing the highly experienced and more than suitably qualified mining professionals running the company have and will, thought and thunk about that, kiddo! |
Time is money.
It won’t happen at all, but even by your optimistic prediction of building it next year, don’t you realise how many years it would be before we produce? And where is that money coming from? |
People need to snap of of this how long, when will it happen mentality. If you're so interested in time, go and buy a Rolex and shut the hell up....entirely my humble opinion! |
According to S & P global, the average lead time to bring a mine into production is now 17.9 years, so in my estimation, Asiamet are bang on target! |
Feasibility Studies 2019-2025 - Project Capital Costs (excluding contingencies and before adjustment for inflation):
$192m - 2019 FS-1 - 9.1 year mine life with up to 25ktpa of copper cathode
$208m - 2023 FS-2 - 9.2 year mine life with up to 20ktpa of copper-cathode
$128m-$158m - 2025 - FS-3 - 9.2 year mine life with up to 20ktpa of copper-cathode?
Roy 'Chubby' Brown pays good money for material like this!
And these clowns expect to be taken seriously after 6 years of making themselves look complete fools by crashing the share-price by circa 94% after telling the market they were now going to use their multi decades of industry expertise to 'monetise' the assets for shareholders........$1-2/share price targets were even mentioned at the time by shills close to the company!
AIMHO/DYOR
ps: if the new MD was brought in for his 'expertise' at putting together highly competitive development costings for new projects, it begs the question as to how he supposedly found these new 'savings' over what he found when putting together FS-2! |
ADW-'drip fed telegram propolaganda'...You really are an idiot Andrew, in fact so much so it's no wonder people laugh at you. |
Who could've forseen that? Well, given the backdrop of wars and inflation....me ! |
So after FS2 they have spent 16 months confirming that no one is interested in financing the project. No lead bank, nothing. Who could have foreseen this? |
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