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Ivanhoe Mines Ltd T.IVN

Alternate Symbol(s):  IVPAF

Ivanhoe Mines Ltd. is a Canada-based mining, development, and exploration company. The Company is focused on the mining, development and exploration of minerals and precious metals from its property interests located primarily in Africa. Its projects include The Kamoa-Kakula Copper Complex, The Kipushi Project, The Platreef Project., and The Western Foreland Exploration Project. The Kamoa-Kakula Copper Complex project stratiform copper deposit with adjacent prospective exploration areas within the Central African Copperbelt, approximately 25 kilometers (km) west of the town of Kolwezi and about 270 km west of the provincial capital of Lubumbashi. The Kipushi mine is adjacent to the town of Kipushi in the Democratic Republic of the Congo (DRC) approximately 30 km southwest of the provincial capital of Lubumbashi. The 21 licenses in the Western Foreland cover a combined area of 1,808 square kilometers to the north, south and west of the Kamoa-Kakula Copper Complex.


TSX:IVN - Post by User

Bullboard Posts
Comment by bloomfield18on Feb 11, 2019 7:26pm
129 Views
Post# 29350072

RE:RE:RE:RE:RE:Congo

RE:RE:RE:RE:RE:CongoA few other points, Silver Knight

1) That $110M in cash flow for Bisie is EBITDA, before interest expense and taxes. After tax, it’s probably closer to $50M a year. That’s small scale in the mining world.

2) There has not been an exploration update since July, 2016. This is undoubtedly due to a lack of funding. Construction of the initial mine is the priority.

3) $25M of that $80M credit facility is owned by a 48% insider shareholder, Tremont Master Holdings. They’re getting paid 14% + 3 month Libor, currently a total of 16.7%. Principal must be strung out over nearly three years starting in 2020, and interest payment begin sooner. Tremont, like the other creditors, also receives substantial fees just for making the loan. It’s designed to avoid rapid payback. See lucky note 13 of the recent Nov 2018 financial statements. Retail investors need to watch out for stuff like this. They’re last in line to get paid. Everyone else feeds on the carcass first. A small chicken still has large bones, even though meat is scarce. It looks bigger than it is.

This is is why I avoid small stories. Mining is a very expensive business, and economies of scale like IVN allow everyone to benefit. 

Bullboard Posts