Commodities

By Tshepo Magagane – Pangaea Mining & Infrastructure Executive [Kansanshi – Copper C1 cash cost1 of $1.21 per lb was $0.08 lower quarter-over-quarter as a result of the drawdown of stockpiles Sentinel – Copper C1 cash cost 1 of $2.11 per lb was higher than the preceding quarter as a result of lower production volumes and higher tolling […]

Coal – imagine having a 7bn market cap and you are adding almost half a billion in cash each quarter Have been doing this in various roles for over 2 decades – it is important to block out a lot of noise – dear me, there is a lot of noise – even some years […]

By Tshepo Magagane Copper – the ore is simply not there and it is going to get worse. And everyone is going “we want PFS projects” – who is going to define them? Why it is an opportunity greater than AI or the shovels that go into it (ie Nvidia) – prospective tenements are there; […]

By Tshepo Magagane I repeat no one knows! I have always said “as much as Lithium is abundantly found 1. Like iron ore, you get it right eg some moves Rinehart made at the trough, you will like have inspired investment case studies 2. D&S balances with DLE numbers either way are not worth the […]

Thoughts by Tshepo Magagane When we were winding down Merchant banking operations over a decade ago, the Chinese decided to buy the bank’s International Trading arm! Do you know what they did? They brought in people to sit with the traders – showing them exactly what they do daily… …financially rewarding key individuals to stay […]

Comment By Tshepo Magagane Zambia’s Copper Renaissance – really simple, of the 3Mtpa target, 800tkpa has to come from independent projects! https://research.massifcap.com/p/zambia-s-copper-renaissance?utm_campaign=zambia-s-copper-renaissance&utm_medium=newsletter&utm_source=research.massifcap.com&_bhlid=293b58d214f82873ed23384bebbfce5ebf3c8427 Independent projects need to go through the following: MRE – let us assume USD5m PFS – USD60m BFS – USD100m PF – USD160m (equity) However, as you go into production – on the […]

More importantly, Anglo executing the strategy communicated to shareholders: * Already 2 selldowns of Angloplats to increase free-float for demerger * Sold Aus coal – dont agree with it * Making progress on Copper side in SAmerica – this is the most crucial Copper – talked about the latest Chinese moves in the likes of […]

Penned by Tshepo Magagane There is this view in the West that “we will just buy the materials”! Have seen it in so many conversations (see comments in attached) – European industry is struggling to plan for the future – the most jarringly surprising thing was:  1. Strategy team at OEM is telling us “not […]

By Tshepo Magagane Exploration to Production Best of Class Case Study in Africa (Large Scale Mining Preparation) – I cannot begin to put in words the work that Dr Mulenga has already put into this project. Remember, the orebody is 100km – the reserve he has defined is just for 4km – a month back […]

Extract By Tshepo Magagane I have run out of superlatives to describe its idiocy! It is not that it is lacking… It is not that people dont understand that it is required… It is not that people dont understand that you need to be aggressive… It is not that they dont get that you need […]