@mothballs sorry to ask for credentials but are you really a new poster or does that nickname belong to a ramping identity?
I have heard such identities are frequently generated here to create ‘energy’
As I was sick of all the hoo hah here I was not going to post but am intrigued enough to ask if this is the only nickname you have on this site?
Cheers
And to share my own research of this morning re Bauxite :
having looked I honestly find it hard to believe Bauxite will have any impact on the price of this share for a very long time except the directors have flagged they want $5million for a ‘scoping study’
I believe shareholders should ask that all energy and money directed towards Bauxite including the $5 million proposed spend be put on the back burner while the hemp side of things is proved up.
There is enough going on with that without wasting time and salaries on a not particularly viable resource with no pressure of deadlines on it,
in case anyone else had not researched Bauxite .
Bathurst Resources an ASX company has 194 million tonnes.
They are all set up. They are currently mining. Stock code BRL .
price of their shares 13c (roughly the same number of shares as QBL)
Their profit financial year 2017 : $1.9 million dollars.
Ie assuming QBL funds scoping study of $5 million to upgrade resource and it jumps from their initial proposed shipment of 50,000 tons to around 200 million tons it will take 2.5 years of profit once they are up and running to pay back the scoping study
@mothballs you said on QBL ‘questions’ thread the people of South Johnstone were, some years back, delighted with the prospect of 400 imminent jobs supporting their community .
The Cairns Post also flagged ‘hundreds of jobs’
Production:
Cairns Post July 3 2017
“But the Mineral Development Licence needed to mine and export an initial 50,000 tonnes of bauxite through Mourilyan Harbour is still under assessment, according to a spokesman from the Department of Natural Resources and Mines. http://www.cairnspost.com.au/news/c...e/news-story/722139502c674417539998a7b347cef7
Initial earnings /jobs
Maths: 5o,000 x $68.87 : equals $3,443,500 Bauxite income
Average wage PA $60,892
400 jobs times average wage equals $24,356,800
If they are truly working towards shipping an initial amount of 50,000 tons at some time in the unknown future then at current values employing even 56 people would be much more than they could afford!
Given the costs of machinery, fuel, other services such as electricity and water , transport costs setting up with whatvthr6 have seems unviable.
Given a peer company - up and running -with millions of tons of bauxite only made $1.9 million dollars profit in 2017
Further expenditure on bauxite should be shelved for now !
