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blankseplocked [L.U.R.C.H] Month One Report
 
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Headmaster Lurch
Amarr
L.U.R.C.H.
Posted - 2008.08.16 20:46:00 - [1]
 

Ok, first month down, a lot to report.
First, lets go with the structure changes that the shareholders and I decided on after we dropped to a 6.85b IPO:
First, we voted another 700 shares into existence, and then had a stock split. So there are 13,700 shares of LURCH, valued at 500k each.
Next, to deal with the reduced capital, we had to change up the dividend payments, and since the shareholders asked, we went with biweekly dividend payments. And yes, that means to date I've paid out dividends twice.
Payment Schedule:
Dividends 1-8: 125mil payout, 1.82% ROI (3.65% monthly)
Dividends 9-12: 150mil payout, 2.19% ROI (4.38% monthly)
Dividends 13-16: 250mil payout, 3.65% ROI (7.3% monthly)
Dividends 17-20: 300mil payout, 4.38% ROI (8.76% monthly)
Dividends 21-22: 400mil payout, 5.84% ROI (11.68% monthly)
Dividends 23-24: 500mil Payout, 7.30% ROI (14.6% Monthly)

These payouts are structured to keep an isk-cushion in the corp wallet in the early months of the project; and once all the GTCs have been bought, start dumping money back onto the investors.

Now, on to the status of the miners:
The miners are a month and a half old now (no mining ops the first 2 weeks).
As my shareholders are starting to realize, I like to over-budget. So when I wrote up our skill plans, I assumed no implants, no starting skills (I wrote a character XML with 0 skill points and fed it into EveMon). Also, when I projected the the mining yields of the group, I didn't take into account drones, or Meph's gang bonuses getting any better.
So, what happened?
The corp bought 5 sets of +3 implants (from Meph and D23 at 5mil/implant) on the first day of the miners existence. The miners got into retrievers on day 12, 2 days early. They started with Mining5(which was planned after hulk). And about 2 weeks ago, Meph put the Mining Foreman Mindlink in his head.
So, in the Prospectus, we estimated that each miner would pull in 706m3/min after gang bonuses, from week 2-10. Well, it's Week 6, and they're up to 934m3/min.

Also, we've bought 4 months of GTCs so far, and are currently 220mil under-budget for GTC purchases.

Following message will cover how we did the first 2 dividend periods.

--Lurch

Headmaster Lurch
Amarr
L.U.R.C.H.
Posted - 2008.08.16 20:47:00 - [2]
 

First, let me define a few terms I'm going to throw around:
Prospectus Yield - the under-estimated mining yield that I based the IPO upon. It's in m3/hr for the gang, including bonuses. For div periods one and two, it's 211,888.77 m3/hr.
Optimal Yield - the absolute best our miners can do at the start of a mining op, assuming they all mined one huge asteroid that never popped. (i.e. no wasted cycles). Also in m3/hr for the gang, with bonuses.
Real Yield - What they really pulled in, so it equals m3 mined divided by hours mined.
Efficiency - the percentage we actually mined vs Prospectus or Optimal.


Div Period One:
Comments:
Wow, learning curve, it took us a few hours of mining ops to fall into the rhythm. But we figured out a solid rock-tagging strategy to keep the miners from doubling up on rocks, and are able to communicate when rocks have less than a cycle.

The numbers:
We mined a total of 17.91 hours (almost 2 hours extra) in the first div period. Our Optimal Yield went from 220,800m3/hr to 269,944.5m3/hr over this period. The change over was close enough to half way, that for reporting purposes I'm stating the average at 236,944.5m3/hr. Prospectus Yield was 211,888.77m3/hr. and we mined out a total of 3,671,894.6m3 of ore. This gives us a Real Yield of 204,981.47m3/hr. Our Efficiency during this period averaged out to 87% of Real, and 97% of Prospectus.
To make things easier, the workers are being paid in minerals. The corp keeps 85% (rounded up).
So for this period our net mineral income was:
60,407,518 Tritanium
6,464,030 Pyerite
161,062 Nocxium
1,746,705 Mexallon

Div Period Two:
Comments:
First minor setback, due to a JuryDuty summons, Meph's schedule got moved around, so we came up about a half hour short this period. Though this period took full advantage of Meph's shiny new Mining Foreman Mindlink.

The numbers:
We mined a total of 15.51 hours this period. Our Optimal Yield was steady at 269,233.5m3/hr, and Prospectus Yield remains at 211,888.77m3/hr. We mined out a total of 3,647,996.5m3 this period, so about 24,000m3 less than Period One's near 18hour marathon. Our Real Yield was 235,200.93 this period, giving us Efficiencies of 87% of Real and 111% of Prospectus.
This period's net mineral income was:
62,633,909 Tritanium
7,277,402 Pyerite
139,568 Nocxium
1,513,197 Mexallon

Month One Mineral Asset Summary:
We sold some of the non-tritanium locally around week one. Mostly was hoarding the minerals while making preparations to aquire a freighter. We currently have use of a freighter, and all minerals have been moved to market. Actually, they arrived while I was writing this, so I surveyed the market, moved the mins a few hops over, and liquidated the whole pile. So the corp has zero mineral assets.

After Fees and taxes, this month's minerals made us just under 500mil isk.
Prospectus set the bar at just under 520mil isk, but the savings on GTCs more than covers that spread. Also, D23 and Meph have been grinding standing for some other local corporations, to increase the systems in which we can mine and refine.

I think that's everything, I'll check back in a few hours to field any questions that arise.


--Lurch

Shar Tegral
Posted - 2008.08.16 23:59:00 - [3]
 

As part auditor and part investor in this project I'm obligated to confirm that there have been several dividends paid out so far. Both dividends, one on 01-Aug and the other on 16-Aug, were for 18,248,175.18.

This is simply confirmation on the report provided here and nothing more. I still have confidence in the project (thus my 1 billion isk investment) however I'm not doing an ad here.

Shar Tegral
Posted - 2008.08.17 00:01:00 - [4]
 

Originally by: Shar Tegral
Both dividends, one on 01-Aug and the other on 16-Aug, were for 18,248,175.18.
Typo on my part: Both dividends directly to me based on my share, one on 01-Aug... ...

Praetorian I
Posted - 2008.08.17 02:51:00 - [5]
 

As an investor am confirming receipt of two divend payments.

Should also disclose that I have a lengthy in game history with both Dallas and Meph.

Dallas23
Posted - 2008.08.20 23:38:00 - [6]
 

Just saying things are moving along fairly nicely. As was reported in the there was an interesting learning curve and we have gotton things moving well. Also another thing that should help out is in a couple of weeks I will be getting a new machine. So that should help out in spreading out the accounts a bit more on 4 systems instead of 3.

The only thing I miss now is all the naysayers Shocked

Amrumm
Rhetorical Devices
Posted - 2008.08.21 10:03:00 - [7]
 


jna
Caldari
Infinite Improbability Inc
-Mostly Harmless-
Posted - 2008.08.22 17:39:00 - [8]
 

Confirming I've received divvies as outlined above, and am very pleased with progress to date. Also the excellent reporting needs an honourable mention.

Absimi Liard
Gallente
Vertical Industrial Partners Limited
Posted - 2008.08.22 18:14:00 - [9]
 

I've bought minerals from this corp. Pleasant interaction. They delivered a full belt to my build site in Chaven then just contracted the goods to me.

-abs


 

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