Attended Bill's presentation with a couple of others, both members here. Meant to be working at the moment, but will post as still fresh in my mind.
Bill's presentation backed onto the morning tea break and Bill fielded some questions from many of us and he was more than happy to accommodate.
A pure gentleman and very down to earth. Sorry to hear that one of you had problems with getting information from the office.
He shared more time with us members and sat down with us to talk. He couldn't share as much as he knew due to regs but this is what i can share
Management is aware of threads here AT times, so they do care about us. And although some of us were highly critical of the last 1-8 and preferred a greater chunk, they needed to address the company's best interest.
Filby, not more information than you already know in relation to the manganese. I;m still excited about it, it is open ended a few directions and it is possibly shipping grade, which means, dig it up ship it out, money for the kitty.
- the relationship that this company has with the locals has been developed highly, some companies may have issues with the locals, I don't think one will have any issues, therefore adds to the bottom line, - more productive workforce and other support from the community when needed
- Costs per ounce for production - he indicates in the presentation during the question time, which is comparable to its peers. However this is variable DOWN, the initial feed is very close to the plant, haulage and digging is minimal and therefore costs will be kept low. some very high grades in the stockpiles, which have been announced, mix it with some of the tailings and we will have the initial feed for the fraction of the cost of digging it up.
Some have been critical of the initial feed's grades but considering its purpose to fund further exploration, suits me just fine.
- As for the recovery, I believe he stated that CIL plants can recover to 90%
- Commissioning and Production is due to occur and i have my
OWN estimates as to the first pour but i will keep that to myself
- He stressed that this company is an exploration company, our ultimate aim is to increase our resource base. Opportunities at depth and open ended in both directions at the location of the most recent drill results is exciting. I know Invest Egate didnt terribly like those results, BUT open ended either direction, and get this, VERY very close to the haul road. As i posted previously, the reduced costs of the removal of overburden must account for some grades
- Rigs operate 24/7
- Production will be 24/7
- issues as to Wet Season shouldn't play that much this time round as it depends on access to locations. Last time round we spent, a couple of months waiting for the wet to go and ground to harden
- we have power
- we have certain security measures
- Cash is king - he knows we have opportunities to build this company to the likes of Perseus, that is why production is important to fund expansion/exploration.
- Other companies have cap raisings 50-80 million, think about ours, we are doing great in that regard. Once cashflow comes in, we have more options.
- multibagger - his thoughts - possibly - why - look at our pricing compared to the others. People always quick to criticise and find reasons not to invest. my thoughts they will find out, and it will be too late.
If i think of anything else that i missed, i'll repost.
I sincerely thank Bill for spending time with us, he didnt need to.
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