so why was JB thrown out?

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Titasuranus

27 Posts.

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13/01/22

16:56

Post #: 58842318
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Originally posted by 92electrons: ↑

you obviously have absolutely little knowledge of past events, so let me enlighten you:-

during the last uranium bull market, explorers attempted to bring 5 new uranium mines into production and of those 5 only 2 succeeded:-

Langer Heinrich Uranium Mine

Kayelekera Uranium Minelet

me be blunt - the other 3 all failed, but hey what do I know perhaps it’s easier these days, perhaps they can Google how it’s done these days if it gets difficult along the way

the one thing we agree on is that neither of us want this merger to proceed

as far as I’m concerned Mulga Rock project feasibility “refresh” is total bs with an AUD/USD exchange rate of 65 cent used - which is very optimistic with 10 year futures at 72 cents and current exchange rate at 72 cents

a reduction of 20% in the capital cost which appears due to use of fit for purpose mining equipment - using second hand equipment is a total no no and will require further capital expenditure in the near future

the contractor providing the second hand equipment then operates the equipment on a “cost plus basis” - that is total bs and leaves the door wide open for further cost blow outs

there has been no provision for mine closure and rehabilitation costs - madness, total madness given it cost ERA $744 M to close and rehabilitate the Ranger mine

you won’t get long term contracts at the US$100 lb which will be required to make this project work

the bankers wouldn’t even consider such bs project economics, and the only way I can see Vimy getting the required funding would be via a loan from a utility which in return would require an off take at a low uranium price

utilities are not stupid, they would know full well Vimy can’t get the funding without them - and will expect a huge trade off via a low off take price in return

but that still won’t solve the very obvious problem - Vimy don’t have the experience to bring Mulga Rock into production

good luck, because you’re going to need it

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so why was JB thrown out?

VMY Price at posting: 24.0¢ Sentiment: None Disclosure: Held
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so why was JB thrown out?

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