Because if you do... you might find a pleasant surprise on page 24..
"BLACKTHORN RIDING HIGH ON UPGRADE" By Luke Forrestal
Decent size article too, especially given it's the weekend edition..
Can I quote the opening paragraph for you, in case you cant be stuffed getting out of bed?
"There's talk Blackthron resources could be the next Africian copper success story a la Discovery Metals after it unveiled a 160 per cent upgrade to the resource at its Mumbwa project in Zambia on Friday"
Some summarised points in article by Luke Forrestal include;
*Latest resource from Blackthorn larger than Discovery Metals Boseto project in Botswana
*Discovery has Mkt cap of $600m vrs Blackthorn $180m
*Scoping study in Aug. Will help give indications of develop size, capital costs, open pit or underground
*Brokers expect plant processing of about 3mt to 5mt of material a year
*Expectation project could produce 50,000-80,000 tonnes of copper per annum, with estimate capital costs of $300-$400m.
*Discovery is set to produce 36,000 tonnes per annum and 1.1 mill ounces of gold a year. Potential expansion of 50,000 from 2016
*Blackthorn owns 100% of Mumbwa after BHP withdrawal
*Resource so far only includes Kitumba and there are promising deposits in the region such as Kakozhi which will be drilled in the future
*$7m in bank poised to receieve $5m from Glencore after production
*Blackthorn needs to use its portion of early cashflow to repay project financing, so unlikely its income from Perkoa will be enough to finance Mumbwa. It's income stream could help Blackthorn obtain debt financing
*Investec and Patersons released on Friday very positive reports to clients in reaction to Mumbwa resource being larger than expected.
*Shares fell, perhaps due to the end of FY.
Ends
So there we have it. Some great expsoure for Blackthorn...Hopefully we might have an ok day on Monday, especially with US mkts up on Friday night
Enjoy all
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Mkt cap ! $275.1M |
Open | High | Low | Value | Volume |
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1 | 8487 | 47.0¢ |
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View Market Depth
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6 | 47806 | 0.465 |
6 | 67087 | 0.460 |
6 | 67489 | 0.455 |
28 | 302395 | 0.450 |
6 | 75962 | 0.445 |
Price($) | Vol. | No. |
---|---|---|
0.475 | 7490 | 1 |
0.480 | 12629 | 2 |
0.485 | 105000 | 2 |
0.490 | 20408 | 1 |
0.500 | 79866 | 4 |
Last trade - 16.10pm 19/09/2025 (20 minute delay) ? |
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