I've dug a little deeper but by know means an expert- very obviously dyor- all that jazz.
Makeup of the registry
Fully-diluted Share Capital 251.37m (number of shares on issue)
Major Shareholders
Assore Limited 29.9%
DGR Global 26.3%
Other 25.1%
Board and Management 7%
Sumitomo Corporation 11.7%
TOP 20 SHAREHOLDERS 88%
So old mate on the london chat forum was near enough (or I'm slightly out) with the figure of 50 million on the free float then. Being fully diluted I've included the options (16 million options), and have come up with 62 million. So minus options I get $46 mill free float.
I am assuming here that (a) 75% of the shares not being actively traded. Also of note there are some other big believers in that top 20.
source above -IRR presentation
Lithium- Exploration as father Ted says
Ghana lithium- haven't started exploring yet but we have
Historical Spodumene resource of 1.48Mt @ 1.66% Li2O on 314km2
Ivory coast lithium-
multiple pegmatites discovered, each over 15m to 20m wide with several hundred metre strike lengths
Notes: Licence area in Ivory Coast totals 1338km2 which alone is the largest lithium acreage on the AIM
Now compare that to BGS. -BGS has a high grade 15.5mt @ 1.48% resource - ten times the resource but a 50 mill mkt cap to go with that. (Many complain this mkt cap is too low- but many of these same people actively contrived to put their interests at a total juxtaposition to those of BGS management (they would argue the opposite)....so grains of salt in gaping wounds and all that.
BGS have 2000 km sq m of ground, we have about the same amount (I didn't include all the tenements here), but we actually have multiple tenements and less sovereign risk. (and vastly better shareholders that are not going to cause a board spill)
The point is not that we are better than BGS in the lithium department but that we could be similar. It didn't cost BGS all that much money to prove up that resource... And their price is currently deflated because their shareholders are either very very smart...or very very stupid... Just my opinion.
Also, I just want to add that as a lithium investor it is interesting to note we have a lot more exposure to lithium here in Australia. If price goes on a tear, and you want exposure -plenty of that on the ASX anyway.....but I digress. Massively I digress, I wanted to talk about the nickel....shite....tomorrow.
Monogorilby- Al
Maiden Resource 54.9Mt @ 37.5% total (DSO) @ $50 U.S per/t - Inferred resource- but read the article below-very good project dynamics- easy to process and good Ti credits. This project could seriously give reason for the re-rate.. just to re-hash an old point but multiply the numbers and lets say
lets say we attribute 50% profit (I'm not sure if this is the case but DSO aluminium sounds an awful lot like iron ore mining -crushing and screening- basically massive earth moving operation- yes of course there is the capex blah blah blah so I pull 50% profit figure out of my bottom for $ 1.37 billion U.S dollar potential profit- just on the inferred resource (so yeah a very rough 50% capex plus all ongoing costs) This is just to give and indication figure.
But if you look at what Toro wrote (in the run down I provided last time)
1. Monogorillby, Australia
Resources: Bauxite & Titanium
Status: Maiden JORC completed, more to come
Notes: Estimated only 2% of licence areas drilled to date with JORC compliant resource at 55MT. PMR Research Ltd recently stated that “on average one square meter of land can extract one metric ton of aluminium”. Monogorillby is 1484km2. Do the maths. This is a monster!!
Don’t ignore the Titanium either, there’s about $134bn in-ground value so it’s not small.
(I need to re-look at these figures tomorrow- burning the candle both ends here- there is a clear discrepancy between myself and Toro- but he is probably a smarter one than I- I haven't even bothered looking at the titanium..)
But lets just say for one moment he and PMR research are on the money and we conservatively increase our resource by 10 times. - Basically we say yeah 20 % of the licence area has what we are looking for/ have already found. Well I get a $20 billion U.S profit from this operation.
Does that make it tier one?? What is tier one??...
anyway read this below... it is very bullish regards processing and strip ratios etc. It will make you feel o.k about those 10% rises.
http://www.*.com.au/companies/news/...auxite-resource-has-big-potential-128783.html
Anyway, I've been a bit of a hack here, but I have to start somewhere, and smarter posters than I will no doubt correct my mistakes and assumptions...
Good night to all
POV
