Righto buddy miners the bloody the What would you say The
Maddie GC show continues it. Does Super Bowl Monday and it's
and it's tariff Monday? As well.
Oh, is it Super Bowl Monday? I.
Think it is today. Oh, is it?
Isn't it the first Monday of February?
Super. Bowl.
Oh shit, no. Next.
Week 10th of Feb. Next week.
We got an American field today. Yeah, don't do that to our
American audience. My bad.
Oh babe, we are. Go on this, it mightn't be
mining related but it bloody is if the whole market goes up or
down a shit load. The Trump tariffs yes big big
news and we're my this the land of opportunity we live in JC
that a humble NSW country boy feels that he has the right in
this digital world to talk about macroeconomics in US
introducing. Macro Maddie today.
Why not? It is friggin brilliant.
Why? But like, we've got a bit of
bloody W guld. Expected news, you'd say?
Yeah, bit of West guld. We've got our regular quarterly
daemon shape and then a a few others around the grounds as
well. So yeah, bloody M and a near
West guld, but he we're gonna I'm just ripping the director's
special sum up again. The end Why?
Why work don't work hard? Work this morning.
That is right, right. Let's go over the Trump tariffs
sort of come in. I think it was the end of market
on American Friday. So yeah, effectively is imposed
25% tariffs on Canada and Mexico and 10% on China.
And then you got this is just sensational.
China, Canada and Mexico are saying they're going to
retaliate with tariffs on EU FS as well.
And Trump's like, fuck you, I'll just double them then if you do
that like it's like, what about it's?
Like proper like primary school antics.
And but on. The global scale.
They were saying that the energy of read from a couple of
different sources. One sources said just the Canada
energy would only be tariffed at 10%, not 25.
So like oil and uranium. I'm not sure if that will apply
to Mexico as well, because for reference, the, the oil that US
imports, about 70% of that import comes from Canada and
Mexico. So the US bloody produces way
more than it imports. It's it produces 50 Cent percent
more than Saudi Arabia, as you can see.
But it's like for what they do import to maintain the energy in
the country, majority of that is Canada and Mexico.
So right. Tell you what, if you like poker
machines, have a look at this the US debt.
The old debt clock. I'll play the actual video.
I was just like, I was just thinking $10 features on Where's
the gold when I'm bloody looking at it.
So it's pretty much all the for the podcast listeners, it's all
the facts and figures for U.S. debt budget spending in the US.
So $36.4 trillion of national debt.
And because that debt ceiling just went over 30, it went over
36.1. I think it was the end of last
year or start of this year. So and look, this whole these
tariffs and the whole Musk dodge thing.
This is all to you know, one thing's probably to have less of
a trade deficit, but the big thing is servicing this bloody
national debt. And I think 8 billion of that is
actual foreign debt. So then because there they're
looking to get what 5 trillion in federal tax revenue for the
year, but Medicare, Social Security, defense, mandatory
spending and the interest make up six trillion trillion alone
and they're expected to spend 7 trillion titles, so already 2
trillion in the whole again, the fact that.
We're talking trillions. Trillions friggin friggin huge.
So how much are these tariffs going to bring in cause big
Trump's marketing it like, oh, we're going to bloody be the
richest country again and pay off all the debt and these
tariffs are going to we're going to do it by tariffs, but how
much is this actually going to equate to?
So, and remember, it's not the foreign countries paying America
this money, it's the the US companies that are importing
stuff get charged the tariff. So it's not like China, Mexico
and Canada aren't paying the money.
It's the the companies importing the goods, which means they're
just going to. Import as much from those
countries if they have to pay all these extra tariffs on
their. Or they will just pass on the
tariff to the consumer, which is the more likely because there's
going to be a bit of both. So which is inflationary.
But I guess we'll but then as you said, the will the demand be
softened for all these other products and less spending
because of less demand. And that'll what counteract the
products and be counteract the tariffs and be deflationary.
So maybe nothing will happen. Who who knows?
It's like they could, the interest rates might go down or
they might go up. Who bloody nose?
Might be one big. Circuit.
It might or might just do nothing.
So in it give you the facts and figures of how much is actually
coming from, you know China, Canada and Mexico.
So in 2023 US imported 3.83 trillion worth of goods.
China, Mexico and Canada made-up about 1/3 of that.
Mexico being the largest, which is surprise.
You wouldn't think Mexico would be the largest, but Mexico is
the largest. And 'cause you can see here in
the last two years how the US trade deficit has, you know,
kept increasing. So the numbers are, what is it,
400? And I think I've cut my screen
off bloody mobile. View Mobile.
View again. Let me bloody get that.
OK, there we go. 475 billion from Mexico and bloody what, 420
odd from China and Canada each. So let's start with Canada.
So half a trillion of imports, nearly bit below crude oil is
the big 192 billion. So followed by vehicles, parts,
machinery. Machinery is said to include
nuclear reactors as well. And Canada is the biggest source
of mineral imports for the US like coal, uranium, aluminium,
nickel, zinc, copper that. You bit everything.
Yeah. So that's obviously going to
really affect that. Next up, Mexico for the 418
billion imported, the big one is vehicles and parts because your
Ford, GM, Nissan, Volkswagen, Toyota, all them have factories
in Mexico now. Mexico.
So. Obviously cheaper and half of
the imported fruit and 2/3 of the imported US vegetables come
from Mexico, so maybe this will help the farmers over there as
well, right? What about?
China. China.
Well, it's easy to guess what the biggest import out of China
is. Electronic equipment.
Yep, since every friggin most bloody iPhones and tablets and
iPads and everything's usually made in bloody China.
So that accounted for 126 billion.
Then also 86 billion on machinery, nuclear reactors and
boilers, whatever. I assume that's not kettles,
it's probably on some of them. The industrial side of things,
yeah. They are just simple maths
assuming which will not be true because let's just assume the
exact same amount of stuff will be imported now that these
tariffs are in place, with a bit of a rough Bushmass discount for
energy tariffs being reduced. Like for that 1.3 trillion
imported from China, Canada and Mexico, imposing these tariffs
would bring in about 250 billion.
Considering the just the interest payment on the debt is
4 times that and then the deficit between the spending and
the income tax generation is about 8 times that.
So even after doing all this the debt will still grow year on
year unless bloody depending on how much masks doge efforts wipe
out whatever spending. So it's not these tariffs aren't
just going to magically pay off the debt at at this level with
just China, Canada and Mexico. It's the way it's being
marketed. Well, using and again using,
using those sort of Bush maths assumptions, you know, it's sort
of barely a, a portion of the interest component.
Let alone not even a piss in the ocean GC.
So and then because it's all like they think of fuel prices
are probably going to rise by $0.50 a gallon over there.
Look, you know, it looks like an iPhone will cost 10% more and it
yeah, I'll get and it doesn't even because he's talking about
bloody dropping like removing income taxes and and making it
all back with tariffs. And but then it doesn't take
into account, I guess, the G the effect on the GDP if there's,
you know, less demand, EU FS products, if those other
countries then impose tariffs on them too, because that it's,
it's essentially a bit of a, it's a could be a huge, huge
trade war on our hands here. So I just reckon something
freaking huge is going to happen in the next few years.
Like as you imagine the US being the biggest world's biggest
economy, imagine if they don't because they haven't yet raised
the debt ceiling, because I think Trump's trying to get rid
of the debt ceiling, just say, Nah, she's all good.
We'll just lever up like anything.
But Can you imagine if like they don't raise the debt ceiling And
like, I'm sure what would they say?
Too big to fall? But imagine if, like the US,
there was risks they were going to default on their debt like
that would. Just be.
That'd be scary. That is like.
Maybe be just a little bit more than just a correction if that
were to happen. Like, and even if you know these
whether these tariffs, if they're going to rise like rise
the cost of living and energy and stuff in America in the
short term before all the Americas American like, you
know, supply chains and stuff in the country gets established to
not be relying on these other countries.
Like it's like, you know, it's could have forced the US into
recession. But we have a look at the
history. We might be due for a
correction. Have a look at this play.
This is the ASX 200. So it's probably not as
reflective as the S&P 500 because of the dividends.
But look, yeah, JFC. Then you had the euro, European
sovereign debt crisis, 20, What was that?
11, China's stock market crash, 2015, COVID 2020.
That was a short sharp and ended up going flying after that.
Then Russia, Ukraine. But we've been on a bit of a
tear since then. Is there some volatility on the
way with this potential bloody trade war?
I would not be surprised. Their their futures are down for
tonight. Mate, this is mate.
This is what do you reckon this is?
This is going to be freaking huge and it has effects on
everything, like mining just everything well.
That's the thing. It's only just really started,
right? I mean, Trump's barely been in
the door a couple of weeks and then, you know, like, you know,
the the reactions from the other countries.
Will there be more to come? But like you say, it's, it's,
you know, what's going to be the impact on the demand of those
sort of farm products into the US.
But then vice versa, if there's, you know, revenge tariffs kind
of out of back, you know, how does that affect the US?
And but how does the net net outcome kind of wash out?
I think we're really only just at the the beginning, but what
do you think's going to, how do you think this all plays out or
what do you think it could be impacted, you know, back to sort
of our world like resources and mining and that sort of thing?
Well, like uranium's going to be an interesting one tonight.
I think like to considering like what is it?
I think US imports, I think 25% of U S S domestic uranium needs
comes from Canada. So we'll know they're saying
that maybe 10% tariff on that. Like will utilities budget that
or not? Like will that change how the
the supply demand dynamics of uranium or where it's being
sourced from? Like don't know that's going to
be or will it just be passed on in as high power prices?
Like will like Canadian uranium be less competitive if the US
aren't buying as much of it? Like it's who who knows?
That's and like gold, if all the money's going to flow out of
those commodities, like or any just is going to like Tesla, for
instance, like, imagine if they and they're like, because that's
where the big, the big money is in all these big U.S. companies,
the big seven, if money starts flat, like because if they put
tariffs on America, so saying for us to buy a Tesla, Tesla now
to import a Tesla into another country, that's a tariff.
So that could result in less demand for Tesla's like that.
So that money flowing out of that when like is it?
Where's it going to flow into the risky, the the safe haven of
gold. So this could be like huge for
gold. Yeah, especially all the
volatility. And if it's going to strengthen
the US dollar, that's even, I suppose, strengthening the US
dollar, would that that's good for everything in the mining
space really, because everything's in blood of U.S.
dollars. Yeah.
Well, yeah, if you're, yeah, you're, you're an Aussie
company, you know, converting from a, you know, U.S. dollar
gold price to Aussie dollar gold price, then yes.
Yeah, US copper price US, Yeah. So imagine getting an extra just
a just a nice 10% on your on your commodity price.
Yeah. But then if you've got your
costs, your costs still in Aussie dollars, then that's, I
mean, that's pretty neat, right? Most of it is like you know,
considering wages are probably a good chunk of it yeah, so we
will wait and see Oil oil will be oil will be an interesting
one. Since I'm bloody I have to give
it. I should ask the land man
actually consider and it'd be interesting to see if there's
become spot because the West WTI price rose more than the Brent
price. So would is this going to mean
the West TX the patch is going to be in more demand for that
all compared to your overseas or?
Overseas. Not sure.
So it might this, it's going to be things are going to be
volatile. That's for certain.
That's pretty much if you're a mining company listening right
now in Australia, like business interruption insurance for cash
flow volatility, that insurance PO policy is needed right now.
CRE insurance brokers. Get a broke.
Get a business interruption because mate it just who knows
what's going to happen. But the one thing you can
control JC is your insurance policy for it.
Absolutely. I wonder if we'll have to ask
Tarry that whether Trump antics. Is it insurable?
I'm not sure about that, but I'm sure the CRE table no.
Oh, I reckon they will leave it, but he will.
I don't know. There might just be some premium
volatility. Tar is tar is the man to ask
about mining insurance for that sort of stuff.
Absolutely. He might create.
He might talk to the underwriters and get him to
create a Trump anti insurable policy.
So think think of CRE insurance like a road like 'cause you go
outside of CRE insurance, you might end up with a bloody
gravel Rd. You go and the only way to
convert gravel Rd. into a bitumen Rd. is with TARR.
Steve Tarr. Just get yourself get a better
get yourself a bloody freeway via CRE Insurance Brokers.
Go CRE Oh killing me. West Gold FY25 guidance
downgrade GC We are, yeah, sort of thought.
I think when we looked at the quality, it was like, well,
either they've got to produce a shit load of answers in the
second-half or their guidance is going to be downgraded.
And it's very much been the latter.
So, yeah, so Westgold come out today with a downgrade across
the board for FY25 S production, all the sustaining costs and
CapEx, the share price reaction got hit pretty hard.
Back in the two 20s now. Yeah, off about 12%.
So it's actually trading closer now to where it was when they
actually announced the original Cora deal back in April last
year. Yeah, wow.
You know, when as high as the sort of low threes you can see
in sort of like November, December and then yeah, back to
the two 20s now. So the actual downgrade, what
was it? So previously they were looking
to produce sort of 400 to 420,000 oz for Fr 25.
Now that's 3:30 to 350,000 oz. So it's it's quite a.
Huge job. Yeah, pretty decent sized drop,
but you know commensurate with that obviously all in sustaining
costs per oz have gone up. So from a midpoint of 2150 an
ounce to 2500 an ounce and they've also pulled back the the
growth CapEx estimate as well from 2:35 to 200 now.
So pretty. Much because they're not making
as much money. But I think they're just trying
to redirect. Well, they're sort of explained
in the relays. They're trying to redirect
capital to where it's absolutely needed as a priority, you know,
given the chunky production, you know, pull back.
Yeah. But interestingly, in hindsight,
I had a look at their quarterly from the one just scored and
like you know, typically most, you know, mining companies will
you know, reiterating guidance, you know, on track for guidance.
You know, there's none of those comments really in the release
which you know, where production was a bit weaker than straight
expected for that quarter. In the actual quarterly call.
Wade had this to say about guidance is sort of in response
to questions about it, which is probably a little bit of a tale
of of what was to come. Obviously a a key question,
there seems to be multiple questions coming through about
guidance, about guidance. Let let me be clear about
guidance. I mean our business is kinetic.
We are, we are monitoring the opportunities every day in terms
of optimizing this business. But guidance in some sense is,
is, is a single parameter. We don't have a single parameter
business. We have a multivariate business
and for me the key parameter to focus on is free cash flow.
We have doubled the scale of the business.
We've now got a team of 2100 people working.
We've got a portfolio which some areas has been under invested
for 10 to 15 years. Certainly that is the
Higginsville area. And what we're trying to do is
work out what is the key driver. The key driver for this team is
free cash flow. So in terms of our confidence
about delivering guidance, I just think it's a very narrow
window. To me the guidance number is
interesting, but what I find more interesting is free cash.
We will spend the shareholders capital to generate the highest
free cash. That's what drives us.
And trying to look at the business on a on a one year
basis, I find a little little narrow so.
Yeah, and. So I wonder why they didn't
release this with. Quarterly, it seems to be the
thing that's being done at the moment, but wonder, wonder why
the guidance isn't updated with the quarterly.
Yeah, I don't know. That's an interesting one.
You've seen other companies say IGO as an example, they put
those announcements about the, you know, impairment for Kwanana
about a week before the quarterly.
Yeah, or some people sort of put the quarterly out and then put
that, I don't know. Yeah.
But this is like this was even
after the the quarterly like like there was, I think they
released the so that that pre the quarterly and then this one
comes after it so. Yeah.
But anyway, I think like you mentioned Maddie, to be fair,
most people were exiting, you know off the back of that
December 24 quarter production result.
They're expecting a guidance cut, but probably perhaps not by
this much. So what was the what was the
reason for the downgrade? So in a nutshell, the the ramp
up of beta hunt to 2 million tons per annum and Bluebird S
junction to 1.2 million tons per annum were slower than planned.
And they specifically pointed out that this was predominantly
due to engineering, not mineral resource issues.
So Beta Hunt, they were sort of doing a lot of, you know, big
upgrades to the primary ventilation mine pumping systems
and clean water supply. You know, Bluebird, they were
transitioning from a different mining method, which was sort of
happening slower than expected due to upgrading the ground
support regime there. Did did they upgrade the ground
support supplier or the actual regime itself?
They didn't actually say in the. Court maybe they just converted.
They converted 2 DSR to Sandvik. Maybe ground support not on LSR.
It's hard. It's hard not to say.
DSR, maybe that. Maybe that's what was it.
With Derek, Kurt. But that wouldn't no, it must
have been. They must have actually put more
bolts in and stuff because if if if they converted to CNB they
would have everything would have went quicker.
Potential. Yeah, yeah.
So. Oh, it's bloody Derek.
Give the guys a hand. Must just double.
Just double check it and see if it's going in at Bluebird.
I'm sure it is. It has to be 400,000 oz producer
these days. JC Yeah.
Or getting close to it. Getting close.
To on the road, too. On the road too.
Guarantee that production. That's Derek.
Thank you. Derek What?
Yeah, I think so. Transverse means are they gone?
I've got pace fill there. I'm not sure I'll have to check
that because I know that look, transverse is when they instead
of going from one end out, you're sort of hitting it taking
like bulk, like take every second stop, then you come back
and take it in between it after you pace fill them and stuff.
So I'm not sure if they they'll have to have a look into that.
But yeah, I guess, I mean, the marker reaction was, you know,
pretty telling today. But do you reckon they were
perhaps a little ambitious on the timelines to achieve what
they wanted to achieve at, at Beta Hunt and Bluebird with
these ramp ups? I mean, they're obviously on
their way and they're making good, good progress each
quarter, but not in the sort of timeline that they perhaps
anticipated. And I mean, it's certainly not
easy stuff to do either. I think it's been a bit of a
long. I think this is just as Paul
Keating said, the recession. We had to have the.
The IT feels like that. Yeah, I think because they went
through that period of like, you know, the cash on quarter on
quarter, like the there was that nice graph.
It's like West Gold's had a like they've you know, they've on
this trajectory like they've, you know, good.
Like what do they say margin over answers and what they'll
just, they'll, you know, really reborn you'd say and, and, but I
think what was that at the but we always saw the payables were
increasing. Like there was just that It's
like, could it be sustained forever?
And it just looks like they, you know, the script value was good.
Like that obviously helped with the Corolla transaction, like
they got the majority ownership of the pro forma and you know,
but now it looks like right now that they've got it all sorted,
is everything getting reset a bit?
Yeah, very much feels that way. Yeah.
So as I said, it'd be interesting when we look at the
accounts, you know, I might be like Carora was, you know, that
to, as I said, they're doing a lot of a lot to a lot.
Of sort of set it up to the future a bit as well, which I
mean, that's, that's a lot of time and capital, things like
that. But but that's the thing, it
does take time and it's just, it seems to have stretched out a
bit more than perhaps they originally anticipated.
And look, they sort of had a couple comments sort of looking
looking forward for for the rest of the year and next year.
They are obviously expecting a a better second-half for the
financial year and they reckon Q4 FY25 S the June quarter
should reflect an annualized production rate of 400,000 oz
per annum. I think the interesting thing to
look at at the near term will be the impact on cash.
I know you guys touched it a couple episodes ago.
You know, they closed the December quarter with 152
million of cash bullying investments, but in the quarter
they also drew down 50 million of that $300 million corporate
facility they have. So with lower production, a
higher, you know, cost per oz, a little bit less CapEx, do you
reckon in this sort of coming March and June quarter we might
see them draw on that facility a little bit more?
Again, obviously noting as well the gold price has gone up about
$250 an ounce Aussie since the end of the December quarter.
That'll help the midpoint of that all in sustaining from
original guidance to now revised guidance went up $350.00 an
ounce Aussie. Yeah.
What do you reckon? Well, you think of like you got,
you do a bit of Bush maths on the margin that make like God,
if they might get a realized price at like I'll just hit 4500
and they're and they're fully unhedged.
So like even if they're producing at 2600 and they're
they're producing frigging what? They got 100 and nearly 200,000
ounces to come out in the next half.
Well, that's some that's a decent freaking margin like they
should be making at least 50 mil 1/4 at least like even
considering the the growth cap growth capital they've.
Got yeah, there's, I mean that that's certainly not a a small
bill there, but it is not what it they're guiding towards for
the second-half is it's not as big as it was in the first half.
Yeah, I, yeah. So.
Oh God, you just, they'd have to really blow, blow it, not, not
get the answers, blow the costs out and everything to not make
friggin good buck. Like they, they should have a
good couple of quarters. I just, I would like to see them
go to a contractor model. Sorry, like now that they're
getting, now that they're getting, they're getting bigger.
Like, you know, 400,000 oz. That's a, that's a pretty big
bloody producer. And they're, but they're running
it all themselves as a, as their owner operator, which they, you
know, sort of inherited that model from previous world.
But like, because you know, they, you know, they, they
bought ACM because, you know, they were ACM was the contractor
at all their sorts. And there was, I think it was
the risk that ACM was going to go under.
And so they pretty much had to buy them to so their operations
didn't go under. Yeah.
Whether that'll change? But like and, but you look at
all the, there's not many owner, there's not many owner
operators. Yeah, of this, of this.
Scale. Absolutely.
But like Alkane is I think overased, but most of them, most
of them have contractors in and it's just, it's just because you
get you obviously get there. They've obviously got a lot of
experience working for them, but you're just like just the supply
chain logistics and like, you know, they're everything's got
their separate divisions that can sort of and they can just
focus on design and answers and execution.
And then, you know, the contractor picks up a lot of a
brunt, the grant, the brunt, brunt, brunt, whatever the
grant. Yeah.
So like, you know, look at all the every other gold miners got,
you know, the bar Minko burn cut do in the contract for them or
develop or bloody whoever will develop somewhere at Bellevue.
But yeah, that's I don't know, don't know if that that'd
consider that for the for the future to I think it'd simplify
the business at this scale a bit.
So. Yeah.
And that's something they talk to a lot about sort of
simplifying the business, you know, making their existing sort
of operation hubs, you know, bigger and better, you know,
maybe that sort of forms part of it.
We'll we'll, we'll have to keep an eye out.
But I think that the very much of the take away from today's
release, you know what? Well, yes, it is, you know,
obviously disappointing, but you know, the revamp of the
business, it's still progressing, but it's just
taking a bit longer than they originally expected.
So hopefully later this year will be a real sort of
inflection turn around point them.
Yeah. And as I said, it just even on
those numbers or just. Are these gold prices?
Surely they should make a good chunk of cash.
You'd think so. But it's if they clear and
payables would be big one which we'll get a bit more colour on
soon, so. That's it.
Yes, right. Oh JC, the quarterly name and.
She is that time of year again. Quarterly's name and shame.
So the context for the for those who aren't too familiar, mining
companies so non producers have to put out an appendix 5B, which
is basically their quarterly activities in in cash flows by a
report essentially by no later than the last day of the month
following the completion of a reporting quarter.
So for example, 31st December was the end of the quarter,
they've got to no later than the 31st of January to their their
quarterly report. And naturally there is a bunch
of companies that leave this to the last day possible, but
there's even a good chunk that leave it not just to the last
day possible, but to literally well after market on that day as
well. And the thing that baffles me is
that this is not new. It's not a surprise or some new
revelation that mining companies need to report by certain time
each quarter. This has been in place for ages,
so why leave it so late? And so I've got a few friendly
suggestions to help get your reports out in a bit more of a
timely manner. So Officeworks has got some
great 2025 calendar Diaries and planners and compendiums as
well. That's exciting.
I had a look on YouTube how to set reminders in Outlook 2025.
There's a few useful videos there.
And I mean, if you're really stuck, you can always get a
little carrier pigeon or something to remind you on the
30th. Remember quarterly report due
tomorrow? Who?
Knows to to be fair from I'll. I'll play devil's advocate there
because if I was doing it, remember it like uni when you
got an assignment too. If you've technically got till
2:00 PM, yeah. And like quarterlies, I would
imagine are an absolute. They're like a uni assignment.
It is. Like.
Fuck, I've got to do the quarterly.
I've got to write all this stuff and yeah, work better under
pressure right at the end. And I've I've I.
Like the uni assignment. If I'm if I'm ever bloody
running a Spivka JC, I'll be. I can guarantee I'll be a
regular offender on this. On this lease, oh, let's love
it. It's alright.
Let's do it. Let's do a rapid fire on the 10
latest quarries that that came out this quarter.
So this morning, which mind you today is the 3rd of February,
Dateline Resources takes out number one spot, no Dateline.
The funnily enough, the announcement's actually dated
the 31st of January, but it came out today.
So they must have tried to get it in last minute last week.
But obviously this is a cut off or something and they're
currently suspended due to the like lodgement of the quarterly
7 and a half million market cap company.
They completed a scoping study on their Coliseum Gold project
in California during the quarter finish, with 1.8 million cash
and half a quarters worth of funding left to go there.
Not, not too bad. 1.8 million. Then you got in 2nd place at
8:23 PM last Friday. These are all Sydney times by
the way, Lithium Energy, they were previous attender last
quarter. They're still suspended from
trade since about 1/4 ago because ASICS blades that the
recent sale of their Solara's Lithium Bride project.
Basically, it constitutes a disposal of the company's main
undertaking. So it can't even be a shell.
Whoa. No, not not really.
No, because they basically that suspension will stay in place
until Isaacs believes it's got basically sufficient operations
to justify re quotation or re comply with the listing rules.
So basically, oh. Geez, I couldn't have.
And why the fuck would you get the quarter out early?
If that's the case. Yeah.
So they're spitting out some graphite assets to be approved
by shareholders this week. Fortunately, they should get a
bit of cash in the door from all these, you know, various deals,
assuming they'll complete to find in US and get back on the
A6 boards. They finished with 1.6 million
cash. That'd be, that'd be annoying,
being suspended but still having to do all this shit.
Yeah, it's like you might as well just be private.
The world is of ASX, so also a 823 PBR Scorpion Middle
$7,000,000 cap. They're exploring for gold in
the Murchison main project Faros.
They also have a copper prospect as well.
They spent a grand total of $38,000 on expiration and
evaluation this quarter and they had a grand total of $1000 cash
a bank and 1.2 million of a two and a half million unsecured
loan facility drawn into the quarter.
Very, very fun. Seven mil market caps pretty
high considering 1000 bucks in the bank Yeah alright there
it's. Crazy.
And then we've got coming in at 8:20 PM Alara Resources
24,000,000. Market cap had a big run up to
about $0.08 when they commenced copper concentrate production at
their Copper Goldmine JV in Oman back in April.
And I think copper had a bit of a run back then as well.
But they've sort of retreated back to the mid threes main
dramas when they went to raise $15 million during the Court of
IR rights issue. A few weeks after they announced
that they copped a takeovers pedal application put forward by
a group of shareholders. Which in a nutshell was
basically saying if if the rights issue went ahead as sort
of proposed where Alaura's major shareholder Al Tasnim was fully
sub underwriting the rights issue, it would amount to
unacceptable circumstances. That would say, you know, Al
Tasnim, you know, get substantially increase, you
know, percentage holding of the company.
Alara then withdrew the rights issue in December, citing, you
know, termination of the under underwriting agreement for the
raise. Then in January, the takeovers
pedal determined the rights issue would amount to
unacceptable circumstances, but the the raise was already
withdrawn by that stage. They finished the quarter with
9.8 million cash but around 103 million in debt owing.
Right, eight O 3, we're still in the eights.
We're still in the eights strike resources, so they were.
Not strike. Energy Strike.
Resources yet? Different company.
Yeah, so there were a previous offender last quarter, they
released at 8:15, so a 12 minute improvement.
So it's kind of good, I guess. Might be in the sevens.
Might be in the might be in the sevens next time.
To be honest, not so much has really changed with them.
There's still a 10 million market cap company with an iron
ore deposit in Peru. The only announcements between
last quarter and this quarter was the results of the AGM and
Peruvian ministers discussed collaboration on Epirumac,
apologies for the pronunciation, project development, IE we had a
good meeting. So then they submitted a
environmental impact assessment submission for for a drilling
program. But not really much exploration
activity has been happening the last few quarters.
Not bad cash balance from Michael Cap, about 5 and a half,
$1,000,000. But I mean, to be fair, there
hasn't been too much spending either.
Yeah, right, 803. WA Kaylin, the sort of small
kale and producer out of WA and they're currently in a halt
doing the race and they actually had this in their quarterly
report on Friday. Those extract of sort of a few
comments in the finance section there.
But last bullet point says the company intends to launch an
equity capital raising on Monday, the 3rd of February.
So got the heads up on that one. But that was aftermarket.
It was aftermarket, yeah, so good honesty.
They had had some improvements in operations.
They successfully commissioned of some new classifiers that
they planned. But you know, sales volumes were
you know nothing Kectic, you know they sort of got $837,000
of revenue for the quarter. So do.
You think bloody did Discovery Capital do the rise?
I'm not sure. I thought Kyle would do it.
You're just on fire today with your dad jokes.
I love that. He'll love.
That he will too. JC.
So 802 African gold. It's quite literally in the
name. Just very to the point.
I love it. They had a big run up to about
$0.10 back in October off the back of some essay results at
their DV project in Cote d'Ivoire.
And some and some and some promotion, yeah, that's why I
outlined there's better promotion on the way.
Yeah, yeah. So they've reported an ex Rio
Hancock, Oz Minerals guy Adam Olman to as a new CEO during the
quarter doing lots of drilling, you know, got some pretty
interesting results there so far.
Now the rig coming to sight this month, but they only finished
the quarter with $1.1 million. So, so good luck, African Gold.
So there's, I cannot believe there was, there is a 14 minute
gap here. We're down to 748.
We've gone from 8:02. Yeah, we're in the sevens.
Now, but that's not 14 minutes like that was that is that is a
big gap of no announcements, yeah.
They're quarterly. Savannah Goldfields.
Another company in Hull, they're currently raising $14 billion,
just shows 6,000,000 market cap they've.
We're in suspension for a, you know, good chunk of the end of
last year. So raising 14,000,000 and a six
mil market. Cap, yeah, no.
So it's a lot compared to their to their market cap.
They've apparently been trying to sort out funding alternatives
for the last few months that have tidy up their balance sheet
and restart gold operations, which those gold operations been
suspended sort of since early last year.
They've been making amendments to their debt facilities.
They're trying to make amendments to their convertible
nodes. They're just trying to whack
everything at their sort of funding and balance sheet
situation. So today's raise is going
towards funding the race start of their gold operations.
But prior to that, at the end of the quarter, they're finished
with $2000 in cash in the bank, but owing and a bit $1,000,000
in debt. Oh, Jesus.
Jesus, right. 735 Cosmos Exploration.
Cosmos, well, what do you know they're all in halt to raise
some dosh today as well. Bit of a trend today also, you
know, small, you know, six bill market cap.
They entered into an option agreement to acquire a private
lithium company located in the the lithium triangle.
I found out that's somewhere in South Africa basically.
Sorry. South America.
South. America, yeah, no, that's the,
that's the lot. The Atacama, Yeah, yeah, yeah,
that's the, that's the good shit.
But I'm not really. I quitted on a quick credit.
I couldn't really gather what this company actually does.
I feel like it's something to do with lithium processing tech.
They finished the quarter with just under 200 grand cash.
At lucky last, there's an Anika Tambang, or Antam 734A.
Person. Never, to be honest, never heard
of this company before, but having a look into it, it's it
looks like they're quite a big Indonesian sort of miner and and
process a range of different commodities, you know, gold,
nickel, books and the rest of it.
Their main listing looks like to be on the on the Indonesian
exchange with like a small dual listing on ASX.
So I think it's like 3 or 4 billion Aussie, you know,
equivalent market cap, which yeah, straight it's not the sort
of company we normally say in this.
Sense they they probably just forgot they all fucking listed
ivory and it's. Just like, oh jazz, we've
better, better pop that in. It's got a got a text, so yeah,
right. Maybe they maybe it was in the
diary. Maybe.
Maybe it was in the diary. I love it.
Well, the pigeon. One of the pigeons. 01 of the
pigeons, so there. It is.
That's. This quarter's this quarter's
name and shame segment. But yeah, oh, look, you, you.
I think you just gotta take it with a pinch of salt and have a
bit of a laugh with this stuff. I love it.
I'll do the exact same, guaranteed.
Bright other news from the other news from the directors special.
Funnyofmine.com, OH. Just the Maddie's lazy way of
giving you the news. I mean probably the other
interesting one was Terry CEO from.
Resolute. Yeah, Yeah.
Gotcha. Leaving sort of effective,
immediate. Yeah.
And it was hard to figure out what because you see in the
wording here, the company and Terry are discussing the terms
of a proposed settlement in connection with his termination
of employment. So it sounds like he he, I think
I interpreted it the other way, but sounds like he said after
being locked up in Mali, he's like fuck this.
I've had a gut full. I think that's a reasonable read
through, yeah. Yeah, or his or his missus says
you're not going there ever again.
Yeah, you are. Staying.
Probably not. That should be fair enough.
Yeah. Oh, absolutely.
So that was obviously very trying times for the individuals
in the company in Mali. So yeah, I think what stocks off
9%? Yeah.
No, it was off a bit today. So take that as a complimentary,
but yeah, so. So Chris Eager who, who, who was
the acting CEO, he's now going to assume the role of of CEO
there at, at Resolute. Oh, down and down to the
Wheeling and deal and section of.
The well it'd be a small cap gold immano astral.
And Maximus merging all script off market takeover.
So that's because Maximus have got the OR obviously Astral have
got, I think it's 1.27 million oz.
Yeah, they do. I think it's exactly that
declare it'd be bloody proud that I know that and next order
them is Maximus who have got like.
And it's quite. Literally next door the old
Waddle Dam, which is what Remilius made a shit load out of
back in the day before it just all the high grade gold just
stopped. So yeah, they're sort of, I
think they're consolidating now for what, 1.8 million oz total
resource. So that's yeah, that's all the
ground in and around that's going to be.
That's an interesting district in terms of close proximity to
Saint Ives Milk because me and Dylan's are pretty decent.
Decent like gold. It's one of the one of the
better undeveloped gold projects in in WA for like big pits and
everything. One of the bigger open pit,
Yeah, yeah, undeveloped gold assets as well.
Yeah, so and you know whether whether you know W Guild are in
that region now like obviously gold fields are a slow moving
beast so be. There as.
Well, do a bloody deal with them.
But yeah, you know W Guild in that region now that's like the
likes of your your Astral and your Pantoro and that like W
Guild have got a bit of shit to sort out by the sounds.
While you're at it, you may as well just sorry, you just get
all the deals done straight up now.
Just do it off. Yeah, why not?
Bigger the better I. Love it, but no that I mean that
to be honest. Just just made sense, that one.
Yeah, yeah, but it's not like for what they're especially use
an astral script since they've gone up a shit like I think
Maximus of right what say 30 million bucks, I think the.
Yeah, the Oh yeah, the offer your values Maximus about Oh
yeah, it's $31 million, Yeah, yeah.
Won't even notice it. So what else in the Director
Special GC? Let me go back up.
What else happened today? Kind of the more interesting
ones. Oh, Poly Metals provided an
update on its Endeavour Silver zinc mine restart activities.
Jeez, they've had a good run. Poly Metals far out they've had
a Ripper underground works progressing to plan path to
first half cash flow on track. Anything else bloody
interesting? Oh new merchants in gold, the
old aura gold release their maiden reserve for Crown Prince
140,000 oz at 4.8g per ton. That's that's jeez, that's not
bad for a bloody most of that's pit high.
Yeah, there's a Ding Ding for me, that one.
Oh, Yep, that's the that's going into the that's the sacred
source for the West Guild mill coming up.
Yeah. So yeah, it'd be interesting to
see if I suppose, if W Guild just buy the ore or if they take
them out or they might just buy the ore off them.
Yeah. Why not?
Because the Ore purchase agreement's out for that, isn't
it? Yeah.
So I believe that's been signed, but it's subject to shareholder
approval, which I believe they're looking to get it at a
general meeting I think later this month.
Yep, Yep, just. Because W colder an existing
substantial shareholder, so they need to get the older approval
for it from the other from the others.
True, true North Copper. They're back in action after VA,
you'd say. Was it VA?
Yeah, sort of VA then recap and then.
Yeah, so it's a bit it's like a not a Spartan 2.0 well, because
10 bar on it, but it was like, you know, recap Paul Cronin now
there like so it'll be. X Adriatic.
Yep. So what they've finished the
quarter with 9 mil cash post VA and recap raise on Curry project
on care and maintenance while an extensive exploration program is
undertaken. So value in the drill bit for
their, I think it's their mount oxide project where they've had
the historical high grade hits. So it'd be interesting to see
what they get because there's some bloody good hits up there.
I just don't know the size of it but.
Yeah, if you want more more news like that, moneymind.com in your
inbox every morning. Leah Lithium completed the
payment of its distribution to shareholders.
A good chunky one, eh? Yeah.
So they'll have a bit of cash. They've got a new project, new
asset. Yeah, very good.
Go bloody oh, model answer ad How good are the model answer
goes GCS. Oh, I love sponsors.
I love look at. Speaking of which GS are there?
We've got a few new ones to RIP out.
Today, a few new ones. Check out this banner.
It's like a, oh, it's like one of those shopping centre things
like so which, which shops are inside your Westfields?
Like it's just. Bring it there's.
Just it is a bit like that. Companies everywhere.
We've got MMS, Bloody Grounded, Sambic Ground Support, CRE
Insurance, Kaydrill, Saltbush Contracting and the newbies on
Swick welcome. Swick.
Welcome Swick, Welcome Quattro. Project engineering.
Oh mate Jerry Palmer. Absolute legend of a bloke.
Crossbound free energy. Come back for another another
Tim tale of festivity. And don't forget as well.
Do you want 100 bucks off your underground operators ticket for
Oz? IMF.
Possibly the greatest conference in the world other than diggers
and deals. Love it M OM100 money more than
100 is your discount card. Lincoln, the show notes I am
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Adelaide 7th to 9th April Hudaru My money miners Hudaru
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