Coniagas Battery Metals Inc. T.COS

Primary Symbol: V.COS Alternate Symbol(s): CNBMF

Coniagas Battery Metals Inc. is a Canada-based exploration and mining company. The Company is focused on nickel, copper, and cobalt in northern Quebec. It is advancing Graal Nickel & Copper Project. The Graal Nickel & Copper Project (the Property) is located in the north of Saguenay Lac St-Jean region. It is comprised of 110 map-designed claims covering 6,113 hectares. The Property is also located at 190 kilometers (km) north from the seaport terminal of Grande-Anse (Saguenay).

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Coniagas Battery Metals Inc.

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Post by namsocon Aug 03, 2014 8:34pm

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Post# 22806482

COS Q2 Tid Bits

While most of us know that earnings are not that critical for COS, the business press thinks it is the important financial number to report. Luckily COS blew away the EPS number. 36¢ actual vs 26¢ consensus. As a result we get this nice headline from the WSJ “Canadian Oil Sands Ltd.'s Profit Down but Beats Expectations”. Result: COS up (+0.2%), while CNQ (-3.3%) and SU (-3.0%) down on a big oil down day.
Note that COS production volume in Q2 was 74,215 b/d (Syncrude 202 kb/d), while sales were 77,064 b/d. The difference of 259,000 bbls for the qtr being delayed deliveries from Q1 due to pipeline outages.
Mildred Lake trains 85% complete, end Q1; 94% end Q2. At progress of 3%/month, ML should be completed by end of August. I guess Syncrude would use September to ramp up the trains and hopefully ML would be fully operational for Oct 1, Q4. However the Q2 report says, “the project remains on schedule for completion in the fourth quarter of this year”. To meet their target Q4 production target, ML trains must be operational very early in Q4,
Capex to date $538M. Expected 2014 capex $955M, up from 928 in Q1 guidance. $417M to spend over the next two quarters.
Not quite sure what this means from P15: “During the second quarter of 2014, third parties exercised their option (as previously disclosed in our AIF) to acquire a portion of Leases 29 and 31. These option portions contain about 300 million barrels of COS’ prospective resources. There was no impact to the financial statements as a result of the exercise of this option." Shouldn’t COS be getting something for selling the option or did they already get it many moons ago?
I think we will have to wait till August to get a good handle on how well the plant is working since the Q2 report states that the final unit returned to service in early July.
Here is a comparison of my posted numbers for CF and EPS in early July and the actual numbers. EPS: (Act) 36¢, Est. 34¢. CF: (Act) 50¢, Est. 52¢.