I like the figures presented in the new update,
Commercially viable
Higher IRR (conservative estimate of 27%) than WACC of 12.5%
Small scale mining to increase working capital initially while exploring for potential upside
If the targets stated can actually be converted to resources/reserves, then ATQ is still a monster to be
but my concern is:
how the h3ll did they get the CAPEX figure wrong in the first place?
And just how much of the 160-320mt target for Mbuyura/Mkapa & the 800mt target for ngaka field is actually there, given the last JORC update failed to deliver to expectation.
250mt resource is not bad for a 25m MC company, but the fact that the jorc upgrade was branded a major one & somehow created too high of expectation kinda back-fired.
I still have faith in the company's LT potential
but management needs to work on a few scratchy bits to restore investment community confidence.
I remember Tony is the know-how poster, maybe he can further clarify a few things for us and how well did the brokers/funds receive the message from the new updated presentation.
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