What yours / others opinion on:
Is there any risk in west africa - turmoils? yes read this weeks announcement 30/9/21
Can anything disrupt the mining at Morila Gold project? anything could disrupt it from terrorism to an accident. However we think its unlikely.
Slightly concern about the loss of $6.28m half year result - when are they expected to be profitable? 2021 cash flow +
When will the lithium be operational i believe 2024 (do FFX have all the approval yes - do you know how much will ffx shareholders get in the new lithium stock No but we are guessing around 1 for 6 and we get rights to buy the stock in the issue)What is the total estimate gold ore reserve that can be mined see below - i like to do a quick calculation of the total revenue that can be expected of the gold mine.? Do you also know the total ore reserve of the lithium mine?
Mineral Resources (M,I&I) 108.5 million tonnes at 1.45% Li2O
Mine Life 23 years minimum
Ore Reserves (Proven and Probable) 52 million tonnes at 1.51 % Li2O
Average Spodumene concentrate production 436,000 tonnes per annum
Concentrate specifications 6% Li2O, <0.6%Fe2O3, low mica
Annual Mine throughput 2.3 million tonnes
Pre-tax NPV (8%) at $666/tonne concentrate Approx. A$1.7 billion (US$1.2billion)
Pre-tax IRR 55.8%
Capital Cost US$194 million
Cash Costs (Life of Mine) US$281 per tonne concentrate
All in sustaining cost (AISC) Years 1-5 US$306 per tonne concentrate
HOw well do you understand and know the ceo and executive team - can they deliver what they promise and go above. I believe so. Alistair Michael and the new head of Leo Lithium Simon Hay seem very impressive. ( why i ask this question - I also just invested in another graphite stock which have a very slow pace ceo, result in lack of progressive updates on building facilities and mine.) This has resulted in that sp dropping 32% since i bought it and from its high 45%. I always put things into prespective - if during the first covid wave - the whole share market drop 50% - 65% and a stock i buy drops 32% - 45% its crap.
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