Thanks. As expected, no timelines. But there’s nothing major to do which could derail the project, progress should be steady from now on. |
stock cube video on bmv |
Personally I don’t invest in greenfield mining projects no matter how high the paper NPV estimates - HZM shows what will often happen. But this is totally different: all the pre-production costs have been outsourced and the mothballed mine has enormous, high-grade gold reserves in a high pog world. The company is highly mispriced for such a low-risk project imho. I have bought 4M shares in recent weeks, so like the outlook! |
The $5mn commitment by the JV partners is expected sufficient to reach production. That doesn’t suggest much capex is needed initially. The original plans envisaged a very basic plant requiring minimal capex to produce ca 10k ozs pa. My guess is that production will be low at first as they learn on the job and avoid costly mistakes. But the longer term outlook for BMV now looks excellent - you’ll know it costs a fortune to build a mine from scratch and the permitting process is painfully slow. There’s no competition as far as I know in SK, so no competition for scarce resources that you get in countries like Australia. |
On 23/1/19 the company issued an RNS stating they hoped to be in production by the end of that year. They have since learned that the permitting process and getting local community support is more demanding than they had anticipated. I don’t think they’ve given any timetables recently, fearing a hostage to fortune when their standing with shareholders has taken a knock. But the new local JV partners should be very keen to reach production asap and no doubt have the connections to move quickly. End of next year might be a reasonable guess? |
This looks interesting, a possible ten bagger if the gold price stays roughly stable? Do we have any idea of how long it will take to bring the mine into production?$5m seems very (too?) cheap for building a mine, unless there's still a lot of infrastructure there from before? |
probably a put through !! |
2 5miillion buys, nice |
let's hope the JV partners are more competent than the muppets who have been running the show so far. |
Well that was an honest update. As usual we can only hope they can pull it off. GLA |
Hmmm why mention if they don't get the mountain use permits first time.
Sounds like we are being prepared for bad permit news |
In fairness to these guys they don't get the begging bowl out anywhere as much as their AIM peers, which likely means they are frugal... but also highlights just how inactive the business is! |
Nothing agreed yet though and in the meantime cash must be running low. Is this all to help getting another placing away? |
Obviously the Tie up with a local outfit will help get the permissions !!! |
Gold through 2200 and this is where it is.
Without the mountain permit we are toast imo |
Heading back to all time low.
What is happening with this mountain permits? |
Lots of 2 million trades,buys? |
Was that from TW's latest musings?
Well they raised 1.2 million this time last year at 2p a share. That has no doubt been spent but we are no further forward Korean permit wise since then. Can't see anyone apart from vultures wanting to fund this until the permit is a certainty. |
TW seems to think they need cash so a placing is coming soon
Any thoughts ? |
Making progress in the Philippines according to today's RNS.
What's happening with the Korean permit as it's been dragging on for far too long? |
4x5 million trades after hours,buys? |
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