Hey guys, I'm a fan and in at these prices but profit margins are thin at kwale right now. What we don't know is how much the current price has dropped for new shipments, how much the price will drop over the coming months/years. Kwale is a low grade, low margin mine moving forward. Low margin mines have a habit of going from good to bad quickly in a falling commodity price market. I don't know how prices and demand are travelling, but we do know other mines like IMA have had shipments delayed. $12M per month is not right, $12-15m per quarter is more realistic and underwrites the market cap of BSE today basically. Tolliara is valued at nothing... all upside.
I would ignore the UBS, BoA BS. They are pissing in the wind imo and at serious risk of blow back lol
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Hey guys, I'm a fan and in at these prices but profit margins...
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