Circle Property Share Discussion Threads

[drewz] 09/2/2007 19:28

Hope so, pinhead!

[pinhead3] 09/2/2007 18:40

I found this article on Kinsenda that indicates the breakeven point for Kinsenda is 68c/lb / $1,496 tonne (28c mining/processing 40c transport).



At an initial production of 40,000 tonnes pa at the current Cu price $5,530 tonne that's revenue of $221.2m pa & gross profit of $161.4m pa/£82.8m (GM 72.9%)!

CRC 75% share gives an initial £62.1m gross profit pa. I can't believe the market cap is still only £61.3m fully diluted, the first years GM alone!

When capacity gets up to 54,000 tonnes pa the numbers become $299.6m revenue,$217.8m GP/£111.7m. CRC share £83.8m.

Admittedly there's Admin, financing & tax to come off those numbers but still, once the revenue starts rolling in the share price will fly.

[pinhead3] 09/2/2007 18:21

Link to info on African Mining conference that is currently at which CRC is presenting.



Can't see a tour of the MMK mine sites though in the list.

[pinhead3] 07/2/2007 11:41

Looks like we're on the move again, a number of small buys coming in.

[addas99] 01/2/2007 19:25

News tomorrow then??...can't have risen 10% on precious little volume yesterday for no reason, surely?
Fridays are either seen as the day to bury bad news (out of the question!), or more positively to catch a little weekend press.
Whatever/whenever, we're on the ascendancy...£1 plus shortly to be. Please.

[pinhead3] 31/1/2007 20:24

Could well get an update confirming the 285m depth has been reached a Kinsenda soon.
RNS below said 'will be completed by February 2007' so should be anytime around now, or in the next few weeks!

'Copper Resources Key Stage in Kinsenda Dewatering Successfully Completed


For Release: 10th November 2006
COPPER RESOURCES CORPORATION
KEY STAGE IN KINSENDA MINE DEWATERING SUCCESSFULLY COMPLETED
LONDON, United Kingdom - 10th November 2006.

Copper Resources Corporation (AIM: CRC.L) ("CRC") announces the successful
dewatering of the Kinsenda mine in Katanga Province of the Democratic Republic
of Congo to the depth of 209 metres. Reaching this level means that CRC has
completed the most difficult portion of the dewatering programme. As the
209-metre level is now accessible, the permanent pumping station planned for
this level is being installed. With the availability of this pump station and
easy access, the next stage of dewatering to 285 metres is substantially easier
and will be completed by February 2007. At 285 meters, the level at which
previous mining stopped, the dewatering programme will be terminated, the
second permanent pump station will be installed, and normal operational pumping
and mine development will commence.

The rest of the Kinsenda Restart Project is proceeding according to plan, with
start of processing operations expected in the third quarter of 2007 as
previously scheduled.

Chris Jordinson, CEO of CRC, stated, "With dewatering successfully reaching the
209 metre level, the main dewatering risk on the Kinsenda mine has been
removed, which is an important milestone for this project."'

[pinhead3] 31/1/2007 15:31

All we need now is a decent RNS tomorrow morning to squeeze the price back towards £1 where it should be.

[addas99] 31/1/2007 15:21

Steadily reversing seven straight weeks of decline, now easily seeing best price this year.
Think you're right pinhead re. stock shortage, judging from lowly MM swaps.
Yes, if there was a hefty seller he's now more than likely history.

[badgerry] 31/1/2007 15:20

I think my assessment on Friday's volume must have been correct and the seller that has been weighing CRC down has gone. A year ago the shares were this level and since then the company has arranged finance with RMB to develop Kinsenda and is tatgeting prodn later this year and has successfuly farmed out its interest in Hinoba whilst retaining a free carried interest of 20%. Not bad going and the discounted cashflow analysis must look much more attractive a year later. Additionally we have had a peaceful outcome to the Presidential Elections in the Congo, which was always a niggle in the background. Looks good to me.

[pinhead3] 31/1/2007 12:55

Can't get a quote on TDW for 5,000 at the moment, offer for 1,000 is on the offer. Can sell 5,000 with a firm quote 1p above the bid.
Looks like there is a shortage of shares at the moment, good sign if there is a positive RNS immimently.

[pinhead3] 31/1/2007 11:52

To be fair it was known that the Hinob-an upgrade would yield at least a 10% improvement on the basis of the information released so far.
I hope whoever was looking to top up took my advice last Friday.

The question is how far will the price rise this time & will it hold?

[addas99] 31/1/2007 11:43

This much awaited Hinoba update within hours?
Looks like one or two already know the content....as usual.

[pinhead3] 31/1/2007 11:37

Looks like things are on the turn.

[aspers] 26/1/2007 21:14

have stuck with this since plus 90p days....it may take a while longer but boy oh boy it will give me a good return eventually.This is a great price to jump aboard....be quick or regret!!

[badgerry] 26/1/2007 17:59

An optimist might take this high volume to mean that a large seller, which may have been dragging this stock down finally got taken out (legged over). The fact that the stock showed an uptick of 1/2p, which is not that significant on its own but on that volume it might suggest the end of the line is also encouraging. It seems therefore to me that we might be near the bottom. I would like to know why someone wants to come out of the stock at this point, hopefully it is someone who just cant take anymore losses! Looking forward to some newsflow. Have a good weekend.

[pinhead3] 26/1/2007 15:49

Something's up there are some large trades going through today. Can't be sells unless they've been orders built up over the last week or so.
In the past an increase in volume has generally preceeded a news release.

[drewz] 26/1/2007 15:31

Dear pinhead, or 'X', thanks for the update. ;-)

[drewz] 25/1/2007 18:38

This will be worth £5 a share one day. Certainly by 2012. Just need to be patient and keep buying whilst the stock is cheap.

Same goes for ACU.

[pinhead3] 25/1/2007 07:58

Badgerry
CRC is one of the best kept secrets on the AIM IMO, however lack of awareness is not good for share price
Very encouraging news re SA & visit.

The political history in DRC has had more to do with the share price than the Cu price. CRC is not producing a great deal of revenue at the moment from Cu & the NPV of the Kinsenda project is based upon a Cu price of $1.25/lb still half the current market price.
The commencement of production from Kinsenda & BFS for Hinoba-an will transform CRC. Don't forget all the funding for both of these project is fully in place.

[badgerry] 24/1/2007 15:23

Copper Resources has fallen back with the recent fall in the copper price but this weeks rally has made no impact on the stock as yet. CRC is presenting at the Indaba Conference in South Africa from the 6-8th Feb and then there will be a site visit to Kinsenda for analysts, which hopefully will generate some interest. I dont know any other copper companies that are targeting commencement of a 50,000 ton / annum project on this valuation let alone the other projects in the portfolio. Am I missing something? The RSI on this company also looks attractive down in the mid 20,s at the moment. What we need is some in depth research in the market so investors can assess the potential for this company - any volunteers?

[reefseeker] 23/1/2007 17:46

addas, pinhead

Thanks for the further comments. This seems to support my current plans to steadily build my position - its always tricky to guess when the valuation step-change will happen (the markets currently seem to be in a "show-me" mood as they seem to be discounting much operational good news and want to see cash flow / earnings - obviously this mood may change again later this year if sentiment changes).

[pinhead3] 23/1/2007 17:15

Reefseeker
Welcome aboard.

The plan was to have the mine commissioned in Jun 07 so there should be at least some production from Kinsenda during 07 even if the timescale slips some what.
Don't forget they are processing the stockpile from Misoshi & have been since May/June last year which will continue to produce cash flows until ready to take on the mined ore from Kinsenda.
CRC focus will then turn to Misoshi to get a BFS, maybe by mid 08?

Hinoba-an
Reserves update due this month with bankable feasibility schedule in Q2 07. Once this is complete it will be all go as the JV partners take over to put the mine into production. Still upside in the gold mineralisation to come this year which will add to the return on the project.

Haib
Pilot test scale scoping study underway & due to be completed mid 2007 followed swiftly by the bankable feasibility schedule hopefully be end 07 or Q1 08. I'd expect a JV partner/s to come in on Haib due to the huge capital required.

2007 will certainly be the turning year for CRC.

[addas99] 23/1/2007 16:09

reefseeker, rather doubt we'll see any production volumes later this year.
CRC plan to start processing ops at Kinsenda during Q3, commissioning tests will be lengthy and these invariably overrun.
2008 looks good though, esp if they are on time with Hinoba BFS completed and Haib BFS commencing both mid 07.