Just more Caca de Toro from the company.
It is STILL just irrelevant nonsense. Alf PROMISED barite production and shipping more than TWO YEARS AGO! Mabwe has not shipped a single ton to date and, since they ceased mining operations at the Dodgy mine last year, they are not likely to break their record any time soon.
Mabwe has been working on the Dodgy mine for YEARS now and they only managed to produce a measly 4k tons! Not even enough for single shipment!
They seem to have given up as they have abandoned mining operations and are merely using the "story" to hype the stock. Even the previous QS hype of the Dodgy mine made NO MENTION of ANY production or shipments or even targets. Merely fluff about the history of the oil & gas industry and now even more RECYCLED NONSENSE about "gossans" and other pure BULL! { 8^D
Looking at it realistically, the company has only been able to produce LESS than 4000 tons at a cost of almost $200 per ton! Add to that the cost of processing, trucking to Shamva, loading onto rail cars and shipping from Shamva to Beira, unloading at the pad and finally, loading onto a ship. Costs which must ALL be paid by Mabwe. Oh, don't forget Zimbabwe's cut, which MUST be paid!
Steinbock will only pay them $105 per ton FOB Beira! That is a NET LOSS OF MORE THAN $100 PER TON!
They have extracted all the easy stuff that was close to the surface. The cost of mining will only escalate as the steeply dipping and tapering vein is chased downward. THAT is why they are NOT mining and the "story" has once again shifted to "exploring"!
I M ROTFLMAO!!!!
Good DD IS NOT just reciting the PRs and company handouts and looking for the good. Those things are never hard to find.
Good DD IS finding out what the company and CEO do NOT want you to know.
AI
