Ann: Winmar to seek Dual Listing on London Stock Exchange, page-161

“Try the Winmar announcements. AHIC ceased production in late 2016 according to the announcement on 23/7/18 while looking to draw up flowsheets for cobalt and SW-EX etc etc.”

“Why stop when making profits to investigate flowsheets??”

This is clearly an assumption by yourself, I am sure Winmar have carried out their own DD on the plant, as they have locked in supply etc. not everyone in the DRC or in business for that matter has the capabilities to run a fully functioning business. For example the ore being fed into the plant could have been of poor grade.

“It is pretty obvious why they stopped, not profitable as is, then abandoned.”

Another assumption by yourself, nothing stated which would back up your argument.

“You don't abandon something that is making profits, pretty obvious.”

This again is your read on it.

“Plus the question was asked in the conference call I was part of, but of course have no evidence of the answer there.”

It would help if you were able to let us know who was involved in the conference call? Which parties as this would help us understand your argument. I myself am involved in numerous conferences calls, at times a lot of wishy washy comments are made, not factual in the slightest.

“One of the big killers of copper hydroxide concentrate, is transport to port costs. Just up the road the Kamoa-Kakula mine of Ivanhoe Mines included a cost of US$356/tonne for transport of copper concentrate. That was taking it south to Ndola by truck from Kolwezi, then rail to Durban, ship to China. That is a solid number in their feasibility study, go look it up.
Kamoa-Kakula are going to be dealing in the hundreds of thousand tonnes per annum, and get some economies of scale.”

This may well be the cost associated with the above company, but again you have no basis to your argument. Until Winmar provide figures to calculate costs and the likes, you are simply making assumptions.

“Some-one else earlier suggested that transport costs in the DRC would be cheaper than in Aus, that was a totally unsubstantiated claim!!”

Again this all depends on where the Product needs to be transported to/from. The grade or quality of the end product can be between 3 and 5 times.

In conclusion it seems a lot of assumptions are made, it would help if you were able to provide us with some substance.

AIMO DYOR