Civitas Social Housing Share Discussion Threads

[tomboyb] 02/3/2012 08:20

Morning - overhang down to 2mill at full quote -

[jojo_jo] 01/3/2012 23:26

Yes, directors who are willing to put their money where their mouths are inspire confidence. They have become a rare breed in recent years.

When the reserves here are confirmed (JORC), alongside the mining costs per tonne, we will have a hugely valuable company generating great cashflow and profits for many years to come.

IMPO/DYOR.

[tomboyb] 01/3/2012 14:43

JoJo - 3 main directors - each one of them loaded up with shares which effectively for me makes it a little more interesting -

[jojo_jo] 01/3/2012 14:38

2.5m!? Sounds alot, but at that price = £12,500. Could easily be cleared in one or two PI purchases.
Not a chartist, but looking good for a move to 0.6p soon. It's been threatening it for a while.

All IMPO/DYOR.

[tomboyb] 01/3/2012 14:35

But i also reckon - if the drill news is good then that overhang will not last too long - especially when dirs holds 60% of total equity - patience is always key

[tomboyb] 01/3/2012 14:13

U can buy 2.5mill at 0.50p - there is an overhang but like i said on the TXO thread - one of these tiddlers could be the next CNR or GRL -

[dicko80] 01/3/2012 14:10

whats your online limits tom ?

[tomboyb] 01/3/2012 14:08

Some news to cheer u up - even Buffet likes Tungsten -



TORONTO (miningweekly.com) – He may not like gold much, but billionaire Warren Buffet has taken a shining to tungsten – the metal with the highest melting point.

[dicko80] 01/3/2012 13:56

come on......

give us some news man !

[dicko80] 28/2/2012 20:18

using the above for potential net cash flow over the life of La Parilla..

36mt inferred resource + 2.5mt tailings = 38.5mt

38.5mt x 0.09% = 3.465mtus

3.465 x 75%recoverable = 2.6mtus

2.6mtus mined x $308net margin ($437 -129) =

$800.41 million

$800.41m / fx rate 1.6 =

£500.25m net cash flow over the life of the mine

using 10years as a mine life

that equates to £50m net profit pa

x PER 5 ??

............

not bad for a £4m mkt cap...

:-o

[dicko80] 28/2/2012 19:43

DFS was announced over @ ORM today

The Board of Ormonde is very pleased to announce the results of the Definitive Feasibility Study ("the Feasibility Study") on its 100% owned Barruecopardo Tungsten Project in Salamanca, Western Spain.

The Feasibility Study, based upon an averaged 227,000 metric tonne units ("mtu") of tungsten trioxide (WO3) production per year, has confirmed both the technical viability and very strong economics of this major tungsten project at a prudent base case tungsten APT(1) price of US$350/mtu, well below the current APT price of US$437/mtu.

The Company now plans to advance the development of the Barruecopardo Tungsten Project as a major new European secure supply source of this critical commodity.

KEY OUTCOMES:

· JORC-compliant global Mineral Resource Estimate of 27.4Mt grading 0.26% WO3 for a total of 7.1 million mtus of WO3, with 4.1 million mtus classified as Measured and Indicated Resources



· Mining based on an optimised open pit shell containing Measured and Indicated Resources of 8.71Mt grading 0.32%WO3. This converts to a mining reserve of 8.69Mt grading 0.30% WO3 for a total of 2.61 million mtus of WO3



· Open pit mining presently scheduled over nine years (maximum annual mine production of 1.1 million tonnes per annum (Mtpa)) to produce an averaged 227,000 mtus per annum



· Average annual pre-tax net operating cash flows of €29M at an APT price of US$350/mtu (current European APT price = US$437/mtu having traded in range of US$435-465/mtu over the past six months)



· Pre-tax NPV (8% discount rate) of €120M and an IRR of 52.0% at an APT price of US$350/mtu



· Low cost project with a capital cost of €48.5M and cash operating costs over the life of the open pit mine of €99/mtu (=US$129/mtu at the feasibility exchange rate of $1.30 to Euro)



· Capital payback period of approximately 2 years at an APT price of US$350/mtu


..................................


Davy Research



Ormonde Mining
(ORM ID)
Definitive feasibility study issued for Spanish tungsten project
28 February 2012
Job Langbroek
Closing Price: 14c
Rating: Outperform
04/05/11 Previous: Neutral 30/06/09

FACTS: Ormonde Mining has announced (February 28th) the results of a definitive feasibility study (DFS) which outlines a development plan for the Barruecopardo tungsten deposit in Western Spain in which Ormonde has a 100% interest. The study outlines a €48.5m capital investment to produce 227,000 metric tonne unit (mtu) of tungsten per annum on average over a nine-year mine life. The deposit contains a JORC-compliant total resource of 27.4m tonnes grading 0.26% tungsten. The DFS is based on the development of an open pit only, producing an annual output of 550,000 tonnes.

ANALYSIS: The study brings to a head several years of intensive work to bring the Barruecopardo tungsten deposit into production. The mining plan has a cost profile of €23.31 per tonne of ore processed or €99 per mtu produced. The quality of the deposit makes for a number of exceptional performance parameters. The process will recover over 78% of the mined tungsten and a concentrate of 74.6% will be produced, making it a very marketable product.

The study was run at a number of different mtu price points (lower, middle and upper) to examine returns. At the lowest price estimate of €250/mtu, the plan results in a four-year payback on investment on the back of annual pre-tax operating profit of €13m; at the upper level of €450/mtu, the project has a 1.5-year payback with a €45m annual operating cash-flow. The overall study is based on a pre-tax assessment only and does not take into account either the capital grants of up to 20% or taxes which will be levied at 30%.

DAVY VIEW: Although Ormonde also has a substantial base metal deposit in southern Spain (it also has a gold project) the tungsten play is the foremost source of value at present. The DFS confirms this. The project has real and sustainable value even at tungsten pricing well below current levels of $437/mtu.

Our analysis looks at the post-tax development of both the open pit only and the open pit mining reserve followed by an underground mine, which is the most logical outcome. Both also assume capital grants at 20% and project taxes of 30%. Using the base case price of €350/mtu, and developing just the open pit which makes up only 32% of the established resource, we see a post-tax value of 25p per share (risked by 10% for project development risk). Assuming both an open pit and the subsequent development of an underground mine, we generate a value of 43p per share. The stock looks great value at current levels.

[tomboyb] 28/2/2012 17:20

There is an overhang on this - not a huge one but its normally the best time to buy - awaiting those ever so important drilling results - THR did pretty well today

[bozzawozza] 28/2/2012 17:07

All listed as sells today but I dont believe that, some were definately buys.

[bozzawozza] 27/2/2012 19:59

slowly slowly ticky uppy. Every blue day is a good day and news is still to come so am still adding.

[tomboyb] 27/2/2012 12:40

China wants to keep its tungsten for itself
Tungsten is a very tough metal. Its hardness means it is used a great deal in mining, oil drilling, metals and electronics. Most importantly, it's vital to the defence industry, as a key element of everything from bullets to missiles.

[dicko80] 27/2/2012 08:54

Morning tom,

a weee small tick up :-o

[tomboyb] 27/2/2012 08:30

Morning - Tungsten plays could do really well out of this market especially this year in particular -

Notice a new Market Maker now on CSH -

[dicko80] 27/2/2012 08:25

updated the website on Friday with this article

[bbr391] 25/2/2012 14:47

Are the five holes,turning up new pleasing results.
Time will tell, but, the rumours are positive.

[bozzawozza] 24/2/2012 14:12

Its not going to stay up long if those sells keep coming through. I would have thought people might actually wait for some drill results before doing a runner.

[domtheone] 24/2/2012 11:49

Is it still being run by a bunch of crooks?

[keya5000] 24/2/2012 11:32

Got in last week, only a smallish punt but looks good for 1p on results (if positive).

Wish they would change the name though, used to think this was the worst company on AIM and now I have got some!!!

[dicko80] 24/2/2012 11:24

u in keya ??

could do on a positive update ;-)

[dicko80] 24/2/2012 10:54

900k @ 0.55