excellent summary from YODA on webcast earlier today
http://www.iii.co.uk/investment/detail/ ... d=11709376
Ok I took some notes as clearly some couldn't watch it, here is a summary of what was said:
MINING LICENCE
~all processes concluded and passed all stages of application
~application completed to right standard and passed by the DMR
~awaiting final coms from DMR
~significantly after 1/2 an hour Leon confirmed they last spoke to the DMR on Monday. (I did state here on Tuesday that things had been confirmed.)
~Leon said the DMR confirmed JLP had successfully passed all stages and they will be granting the licence.
~ in the final processes to issue. (I'm told this is the final admin side, i.e signatures.)
TJATE
~attracts "many interested parties" for partnerships
~previous NPV of $1.4B to $1.6B "is fair value"
SURFACE TAILINGS PROJECTS
~Earthworks, ground clearing, drilling and levelling has already commenced at both sites.
~JLP won these projects against tenders from 22 other companies.
~Feasibility studies, testing and the engineering designs are complete and have been independently validated.
~engineering firms appointed for projects and capital costs agreed
~finance arrangements have been agreed and being finalised, with shareholder confirmation in 4-6 weeks.
~The sale of Middelburg is enough to pay for the first plant alone, they will be fully funded for 2 separate processing plants at both tailings sites, no equity funding required.
~Processing plant construction starts in Oct, production in June 2016.
~Surface tailings production costs between $400 and $500 per Oz
~capital costs to construct first site $7m-$8m to produce 1,000 Oz per month
~profit will fund further surface tailings projects. We are talking to several other chromite producers in SA and in Southern Africa
~additional major benefit is that we are also have significant Chrome production from the surface tailings for partners not just the PGE's
~future projects aimed at processing our own materials, not others. (Presumably this means we are looking to purchase surface tailings outright).
~Hernic/Mitsubishi tailings project will take 3 additional months to construct as much bigger. It will be the largest surface tailings plant in the world
~staff estimated to be 55 when producing. Significantly lower overheads, no actual mining where project costs are 60%-65% of overheads. So low platinum prices not an issue.
~current low platinum price unsustainable for producers, so price expected to return above $1,250 in the coming year.
~projects life expectancy is over 10yrs and possible expansion in line with the expansion of the partner operations.
~flexibility to ramp up production within weeks to take advantage of future spikes in platinum price.
MIDDELBURG
~we retain access and power rights
~we have rights to co-develop all future power plant expansion, to use utilities at cost and to utilise our 5Mw smelter.
DIRECTOR RENUMERATION
~confirmation that deferred Director pay is being received in shares at a value of 5pence per share! (considerably under current market value I might add!)
AUSTRALIAN NICKEL PROJECTS
~in optimisation stage. Undergoing an Economic Engineering Study with flow sheets completed to reduce capital of the project.
FURTHER UPDATES
~pictures of the project advancing will be released
~quarterly updates/webcasts will continue, news dependent.
CONROAST
~all ConRoast developments above patent we retain rights to
Hope this helps chaps and chapesses. Good luck. I like the fact that Leon confirmed that directors are currently being paid some renumeration in shares at the value of 5p. Says it all as to where the value is headed. ;)