|Ticker is APP i think|
|Name change today and no new ticker symbol?????|
|To be fair-
this confirms my doubts about this deep mine,however they think they can make it pay & 2009 is some time away so by then maybe the Rand will resolve itself.
Also Reading the Resourceinvestor article above I note that he says
"there are over 500,000 shares out there" so maybe ADVFN have got that wrong
as they often do.If this is true it certainly makes the Company look even
more expensive relative to Risk/Reward,and I certainly wouldnt buy this stock
not even at 5p.
The ever-increasing depth of some platinum-mines and the rising development costs associated with deeper operations are raising concerns in the market.
Besides grades and location, resource depth is becoming one of the most important factors scrutinised by investors when they consider the viability of new platinum-mines or expansion projects.
Deep-level mines are not only more expensive to develop, but are also more expensive to operate, most notably due to higher ventilation and cooling costs.
At the world's deepest platinum-mine, Northam Platinum, on the eastern limb of the Bushveld Igneous Complex (BIC), virgin rock temperatures reach 42 ºC at a depth of 1 200 m and 65 ºC at the mine's lowest depth of 2000 m.
Nevertheless, more and more mining companies are digging deeper for pay dirt, and are not hesitating to develop mines that are a thousand metres or more below surface.
Junior miner Southern African Resources (SAR), which announced last week that it intends changing its name to African Platinum (Afplats) and take up a secondary listing on the American Stock Exchange later this year, is one of the companies that plans to sink a deeper-than-average platinum-mine on the BIC.
The company is currently undertaking a prefeasibility study and anticipates that it will be able to proceed with the development of a new 300 000 oz/y platinum-mine during 2006, with a target of starting production in 2009.
The project will be developed on the 4600 ha Leeuwkop farm, near the town of Brits, in the North West.
SAR CEO Roy Pitchford says that the Leeuwkop phase 1 mining area has an average UG2 depth of about 1250 m below surface, while the Merensky reef has an average depth of about 1050 m below surface.
"Although the project is deeper than the average mining depth of most current platinum-producing projects, the major expansions taking place on the western limb are all getting deeper.
"For example, on the neighbouring Lonmin properties, the Karee mine's K4 shaft is expected to have a final depth of 1356 m below surface, and the current depth of the Rowland sub-decline is at 1350 m below surface.
"Further, Impala Platinum has recently given the go-ahead for 16 Shaft, which will have an ultimate depth of 1 800 m," Pitchford says. He confirms that the capital costs associated with sinking a shaft to these depths, as well as the operating costs of mining at these depths, are higher than in shallower orebodies.
However, he adds that, concerning Leeuwkop, the consistency, width and dip of the orebody lends itself to the cheaper mechanised room-and-pillar mining method which mitigates the increased costs associated with mining at these depths. Pitchford says that the project still has a capital budget of R2,2-billion at a rand:dollar exchange rate of R7 to the dollar.
Work on the Leeuwkop prefeasibility is progressing as planned, with the final report expected by the middle of the year.
The prefeasibility study is currently investigating all engineering aspects associated with developing a deep-level platinum-mine, including infrastructure, mining and processing.
According to Pitchford, the ongoing drilling programme continues to produce solid results.
Seems a positive story for the future!|
|The deep mines in SA are going belly up-with the costs of manual labour.
This is "DEEP",and is going to take maybe a prohibitive amount of money
to get into actual mining.
The risk for private investors is huge,and the belief this will go
from £100 Million Mkt Cap to £200 Million without some future massive dilution
is not very realistic,especially as Edmonds has pocketed his money and is not now ramping it so much.
Some of you may consider Ridge Mining which has produced its pre-feasability study with resources that are staggering with Nickel & PGMS worth potentially Billions of Dollars,is far more advanced and will get the finance,yet has
even more than just that,which may see the shares rise fast this year.
Yet........the market is only valuing it at £20 Million.unramped,unloved,
and temporarily forgotten.
Ridge really does have the assets to rise in the months to come to where SFU is valued today,and far beyond.
Or consider Avocet Mining-truly successful and a multiple to go- Mkt Cap £80Million
Or Griffin Mining-about to start mining in China this May-value £68 Million.
There is plenty of quality out there that holds lesser risk at less valuation.|
|The new name might help and if American investors find it attractive we might finally take off!|
|With the recent news we should see a gradual improvement.|
|interesting White Nile article yesterday , has a brief mention of Capricorn,Central African,Southern African :
|I cannot understand it -no news for a while I suppose!|
|Any views on why SFU continues to dribble lower! All the newsflow has been positive since the last placing at 30p!|
|With Platinum prices so high this should be much higher!|
|Date: February 23, 2005
Capricorn Resources Celebrates Its Second Birthday, But Still Has No Assets.
Minews hates to rain on anyone's parade, so is suggesting very tactfully that the bulletin board cowboys, who have got so hyped up over White Nile, should take a quiet look at Capricorn Resources. This is another from the excellent stable of Mr Phil Edmonds which listed almost exactly two years ago. And it still has not an asset to its name.
When it listed in February 2003 the panting punters were told that it was pursuing a number of resource based opportunities in the area north of the Tropic of Capricorn in Africa. A deal could be expected in the fairly near future was the gist of the release.
A year later in February 2004, after the share price had gone through some amazing gyrations, another release appeared. This kicked off with the sentence, "As a result of recent interest in the company and the subsequent rise in the share price, the board wishes to announce that it is pursuing a number of resource based opportunities in the area north of the Tropic of Capricorn in Africa.(Haven't I heard that somewhere before? Ed).
Phil Edmonds then went on to say "Due to our growing reputation within the region, we are being introduced to a range of projects that we are in the process of evaluating. Our aim, as stated in the admission document, is to locate resource based opportunities and mining projects, with an emphasis on countries including Angola, the Congo, Mozambique and Zambia. As a result of our research, we have identified some exciting opportunities that we feel fulfil our investment criteria, which we hope to be able to announce on in the not too distant future."
The English is a bit mangled, but the erstwhile spin bowler hails from Zimbabwe. The intention is there for all to see, but another year has passed and another press release appeared on February 7th 2005. "The company notes the recent increase in its share price. The company is in discussions that may or may not lead to an acquisition that would constitute a substantial and a related party transaction, but not a reverse transaction under the AIM Rules. A further announcement will be made in due course."
Don't hold your breath, but note the reference to a related party transaction. Maybe this is meant to indicate a game of pass-the-parcel around the Edmonds stable which also includes Southern African Resources, Central African Mining and Central African Gold.
The announcement duly stimulated a rise in the share price to 7p where it ran into sellers and fell by over 20 per cent today. Were the sellers shorting the stock, or were they some of the founding shareholders who must now be well clear of any hold period? Perhaps we should be told.
Two years of doing nothing except having the odd placement when the share price came to life intermittently on the back of rumours must be an ideal life style for comp any directors. But even Bruce Rowan got bored with it last summer and resigned to get on with his other interests such as Tiger Resource Finance. He had provided funding for our Phil's earlier ventures and is now spitting blood as he was left out of White Nile when best friends took shares at 0.1p each.
Never mind Bruce. You could find they are the best shares you never had.|
|It would be nice to see this moving up steadily as we get nearer to production!|
In March Ridge Mining is going to produce a "believable" pre-feasability study that is going to blow SFU out of the water--Mkt cap RDG- £22 Million.
SFU £130 Million Mkt Cap.
I know some people are a bit slow-but dont take too long.|
If White Nile goes down the proverbial,then watch the money men desert Edmonds.
You couldnt give this stock away in 2003,and I still have doubts about them
getting the costs of this deep mine past the big investors.
There are better stocks out there,why take the risk,and note Edmonds is already out and investing elsewhere-Probably Barbados.|
|Does anyone know why there has been a delay in listing on the N. American mkt as had been metioned in the Interin results.|
|The Teelings and Edmonds are just skinning you all.|
|This one should be moving up not down on all the recent news!|
|You will note that Edmonds has pocketed his money from SFU and all investors
will hope that the costs of air-conditioning their deep mine will not be
These scams may catch up with his other stocks so beware.
Date: February 16, 2005
There Will Be Tears Before Bedtime If The London Stock Exchange Does Not Act Swiftly On AIM Cash Shells.
It will be tears before bedtime, as Nanny used to say. The excitement has got out of control and companies worth the cash in their tills are being bid up by the lunatic fringe until the valuations become farcical. The latest example of one of these nasty little vacuums is White Nile Ltd. The shares have a nominal value of 0.1 p per share and it was at this price that they were distributed to friends of Phil Edmonds such as Bruce Rowan and Brian Moritz . The company than raised £9 million from institutions and other investors and started trading on AIM at 10p. The shares are now trading at 122p a week later, which capitalises the company at £190 million.
Older hands will remember the days when the London market prided itself on being better regulated than the ASX. Not any more. It is impossible to list a company without assets on the ASX and the regulatory authorities Down Under would have issued a number of speeding tickets which would have brought White Nile's rocket-like performance to an early halt. The fact that all the AIM market has done is issue a consultation document about the pros and cons of listing these vacuums says a lot about the underlying knowledge of how a market works.
At some stage the music stops. And who will be watching the price of White Nile fall like a stone? It will be the wretched private investors whom the Stock Exchange and the FSA are committed to protect from their own weaknesses. The ignorant investors who are not allowed to receive the sophisticated research produced for fund managers in case they buy shares based on that advice.
Bet your bottom dollar Phil Edmonds et al will be long gone by that time, whether or not they have actually acquired "certain oil concessions in the newly recognised, autonomous state of South Sudan which was established following the Sudan peace accord announced on January 9th 2005." And while on that subject it beggars belief that the said Mr Edmonds has managed to make any real headway in such discussions with a Government established only just over a month ago.
Presumably this claim was validated by the broker and nominated adviser to the company, though they seem rather ashamed of revealing their involvement in this particular scam. Their names do not appear in the release announcing the start of trade on AIM where the only signatories are Phil Edmonds and a PR person . All that can be repeated are rumours that brokers Hichens Harrison and nomad Nabarro Wells have covered themselves in glory. The page of information on the London Stock Exchange's website does not even give an address for the company and Edmonds uses an 0845 number so you pay to talk to him.
The other strange aspect is that virtually no criticism has been made by any journalists on the national papers who have confined their efforts to the price columns. In the old days at least one of the Sundays would have ripped into it and stopped it in its tracks. Now the City pages are so anodyne and, as virtually none of the journos have ever traded a share in their lives, they probably don't understand what is happening. None of them have even picked up on the fact that the great bear, Evil Knievel, has shorted White Nile.
Lawyers are said to be ready to launch another 20 or 30 of these nasty little vacuums on AIM in the next few weeks. It will hardly strengthen London's claims to be a well regulated exchange, when fighting off bids from Deutsche Bourse and EuroNext, if they are allowed through the door.|
|Rubicon increases there stake..hmmm..must be worth a punt..hasn't kept up with the general rush into commodities.|
|Interesting article on Southern African Resources:
|Excuse me if this has already been discussed previously, but i see that the edmunds/groves stable are seemingly bringing a new company to aim on 9/2 called White Nile Ltd.
Has anyone a view on this???|