Chatham Rock Phosphate - CRP

[blackcap]

I think they'll get there too. I've been following the CRPOB (70c options) market also, this week the sellers have totally gone and the stack is clear, but until recently you could pick up these options (post marine consent expiry) for 3c, another way of balancing the binary nature of the risk.

I do not think that the sellers going means anything. Have you seen how many of these options there are? Only 2.2 million in total. Total capitalization at $111,000. Just very illiquid so any price movement in these options is not at all meaningful.

[elZorro]

One thing about phosphate, it's an important nutrient for bioalgae. If the world moves to this as a replacement for fossil fuels, they'll need lots of phosphate, and some other nutrients besides. But whether it's in such short supply for current farming and future carbon neutral fuels that a whole new industry has to be designed to pull it off a deep ocean shelf, mining it for just three days in twelve - I'm not sure.

[Roberto]

Yes, I think so too, CRP guidance is for a mining permit announcement in "September/October" so not long now. It's a binary outcome, I'm happy to hold actually, might even top up a little at 26cents.

Well, they've got tomorrow...

Just about run out of patience on this one.

[MAC]

The NZIER draft report (September 2012) on the Economic impact of Chatham Rock Phosphate.

http://nzier.org.nz/sites/nzier.org....0of%20CRP..pdf

My understanding was that CRP had increased the mining permit application from 25M tonnes to 35M tonnes, but I do like the recognition of prospective $300M pa in revenues for 16 years, if it does go up to 35M tonnes all the better.

[Intel]

And phosphate prices bite the dust again.

Those that are in this should seriously build a dcf and see what value comes out with a Phophate price of USD $120.60, down another 5% last month. You'll be in for a serious shock!

http://siteresources.worldbank.org/I...9/Pnk_1113.pdf

[hilskin]

S/HOLDER: CRP: Chatham Rock Phosphate Shareholder Update
CRP
06/11/2013 13:57
S/HOLDER

REL: 1357 HRS Chatham Rock Phosphate Limited

S/HOLDER: CRP: Chatham Rock Phosphate Shareholder Update

Shareholder Update
NOVEMBER 2013

A number of shareholders have been asking for progress updates on our
activities so here's a summary of what we've been up to.

The Permitting Process

The short answer is we're making headway towards gaining our Mining Licence.
Over the past four months, since we withdrew our Marine Consent application,
our primary focus has been on acquiring our Mining Licence.

The process is taking longer and proving more complex than we and NZ
Petroleum and Minerals anticipated. You will recall we received a letter
from NZP&M in April indicating it hoped to deal with the licence quickly.

In the intervening time we have supplied at least six supplementary documents
following requests for further information, and have met with representatives
of NZP&M each week in order to satisfy bureaucratic requirements.

After a long, complex and at times very frustrating exercise we believe the
final few outstanding issues are close to being resolved.

It is fair to point out that the process has not been helped by our
application being the first of this type under the new Crown Minerals Act.
NZP&M has been determined to demonstrate a robust assessment process, an
intent we support, but at times that determination has caused the process to
drag on to no-one's benefit.

At this stage all we can say is watch this space, we are confident of a
positive outcome in the near term.

Finance updates

I continue to talk to mainly international investors interested in investing
in our project. During a recent trip to Los Angeles I met with three groups
of financial intermediaries and high net-worth individuals.

Once we receive our Mining Licence I am confident we will attract further
capital to finance our Marine Consent application process.

Consultation

We have an ongoing programme of talking to stakeholder groups to keep them
informed about progress on the project. We received an invitation from
Labour MP and environment spokesperson Moana Mackey to provide an update. We
had presented to her and other MPs about a year ago.

The latest session, attended by five Labour MPs and also Forest and Bird's
Kevin Hackwell, was extremely useful in teasing out key areas of interest.
The focus of their questions was primarily on potential impacts on fishing,
what other impacts water column and seabed sediments would have and the
relevance of the Benthic Protection Areas to our project. The latter
followed an unsuccessful attempt by Green MP Gareth Hughes to have BPAs cover
mining as well as fishing activity.

We will also be presenting to public and iwi/imi groups on the Chatham
Islands later in November.

Environmental Impact Assessment

In preparation for submitting our Environmental Impact Assessment as part of
the Marine Consent application, the team continues to refine our
documentation. We have received feedback from a variety of sources that has
enabled us to continue to improve the information we will present.

This includes being able to anticipate as accurately as possible potential
areas of concern and to provide data to address them, or to identify possible
mitigation or monitoring ideas.

While the delays related to the Mining Licence have been expensive in both
time and money terms, it has enabled us to ensure the EIA is thoroughly
supported by scientific analysis and builds in feedback from extensive
consultation with interested parties.

Conferences

We continue to receive opportunities to promote our project at conferences.
We've found they are a particularly successful way of talking to stakeholders
- and there are often possible investors in the audience, which is a bonus!

We've attended the Underwater Mining Industry conferences for the past three
years. The first was at Gelendzhik on the Russian Black Sea (which took me
50 hours to get to). I made valuable connections with the large dredging
companies and also met Robert Goodden, who became one of our expert advisers
and latterly a director.

This year's conference was held in Rio De Janeiro and we continued to receive
strong interest in our project from all the major international dredging
companies and others involved in the marine mining industry.

Earlier in October Chair Linda Sanders and I presented an overview of the
project to the New Zealand Institute
of Chartered Accountants conference in Auckland.

Judging by the feedback received after our address the
delegates were impressed with what we have achieved so far as a company and
found our "story" a compelling one.

Chief Operating Officer Ray Wood spoke at a New
Zealand Mining Summit in October, organised by NZP&M and Straterra to
showcase New Zealand's mineral prospectivity. We were one of five companies
presenting to an audience that included a number of potential Chinese
investors.

Environmental questions

As a parallel activity, primarily arising from the inaccurate claims made by
some Deep Water Group members, we have developed answers to potential
questions often asked about environmental issues related to our project.

The questions and answers are now on our website see -
http://www.rockphosphate.co.nz/news/...estions-answer
ed-fact-sheet

Chris Castle
Managing Director
End CA:00243424 For:CRP Type:S/HOLDER Time:2013-11-06 13:57:28

[MAC]

And phosphate prices bite the dust again.

Those that are in this should seriously build a dcf and see what value comes out with a Phophate price of USD $120.60, down another 5% last month. You'll be in for a serious shock!

http://siteresources.worldbank.org/I...9/Pnk_1113.pdf

My DCF looks ok at $1.85, de-risked of course, not quite as good as that of Edison Research at $2.04.

[Xerof]

A green hat and megaphone remains unconvincing for me - a sea weed suit gets me onside every time......

[MAC]

Recommend a watch of “Silver Rush” on Sky TV at the moment if you want to see what Odyssey do. Presently mining for shipwreck silver at 3,000m depth, by comparison makes Chatham phosphate mining look totally easy really;

http://www.nzherald.co.nz/business/n...ectid=11161467

http://dsc.discovery.com/tv-shows/silver-rush

[croesus]

CRP and AOR. in lockdown. pending announcement

anyone have a sniff of what it might be ?