Nope, your not missing anything bhptuner. The Indonesian governments idea of taking controlling stakes in the mines and also trying to get the companies to develop downstream refining/processing operations is a well meaning intention but whenever governments get involved commercial viability goes out of the window, everything gets bogged down in meetings and agreements etc etc and it all comes to a grinding halt, which I believe is exactly what has happened there.
Not sure how you got £1m revenue, just from the platinum Bhptuner?
My calculations show Gold revenue at $10,964, and Platinum at $21,521, giving a total revenue = $32,485.
I rounded up a couple of figures and used a gold price of $1310 and a Platinum price of $951.
The company states average platinum and gold grades of 91 mg per m3 (0.091gm /m3).
9656 cu metres x 0.091 = 877gms. = 31oz of metal (28.3 gms per oz).
27% of 31oz = 8.37oz Gold
73% of 31oz = 22.63 oz Platinum.
So unless I have miscalculated they did not achieve their "First kilogramme of platinum and gold metals" in this 18 day period. I assume that they added the 877oz to previous finds.
You are right I'm sure bhptuner .
It was a quick reaction and i was distracted with a nabour dispute.
I ques Winnifriths remarks were in my mind somewhere as well , i actually had a much higher alert set that i didn't refer to , ( it triggered a message a little wile after sale..... Patience !! )
Still good job i didn't sell all. l :-)
Best of luck with yours.
I originally purchased these back in March 2014. Had pretty much given up on them after the failure to sell on their asset of more than $50m and pretty much remaining dormant since.
Nice to see some movement, hopefully the next week or two will see some news of revenue and good news to push the price up some more. 3 to 4p and I'll be happy LOL. No idea where it'll go to though or how good the news will be!!
Nice RNS but a bit strange too......2 Dams 1/3 complete, which means neither dam are complete, why not wait until more solid news is available, like one dam complete the other progressing well.
It seems a little bit more time, even a week potentially, would've produced more solid news.
SP up to 1.65 bid on opening so more to come as news flows in on more solid progress.
Anyway, positive it is which is good and moving in the right direction and by end of September things should really have moved on, SP included
I did not read the RNS either. you might like to look at the ACTA board they claim your better buying into rise.
I have taken an interest , but not joined in as yet.
I lost a packet to with B&B averaging down as price fell and the rights !!!
There is some sort of action group .
( its not always AIM were you can lose the lot )
Afraid I have had many more go bust then you .. Globo , hmv, London Mining ,ROK, African Minerals just to name a few.
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