George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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END OF THE DAY: Its is the NPV and a/c the MKT CAP.
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I know you probably know, but there are other important metrics to look at when comparing projects. e.g. IRR. Here, have a final link on me for today ;-)
https://www.accountingtools.com/articles/the-difference-between-npv-and-irr.html
As Rem*ers and old-timers of REM, let us hope this co will have another world class project in this or forthcoming portfolio. Would really be nice. Shorties will have to run for their lives then as in REM - from £1 to £95m for the potential of the Sonora project that could then supply 10% of global demand per mid as from recall?
Thur, 28 Mar 2019
News.
DYOR. IMO. Please check. Only a discussion of possibilities and probability thesis.
A new C.V height means opens new doors and higher up or same level.
News travels?
Goldman said copper will be in deficit [severe] in 2023 from recall. Others like the industry say 2020.
A.G mentioned Arden.
Might be with high grades?
Barksy1 has just posted a GGG Ann/RNS from Australia.
END OF THE DAY: Its is the NPV and a/c the MKT CAP.
You may notice from my list, that of all the co*s mkt caps, it is A40*s that is the highest at some A$240m. In Australia, many mkt caps have gone down eg GGG so, A$240m is, say, pretty high comparable and 1/2 of Kidman Resources at $500m odd.
That is where most dont get. Its about the stand-alone mkt cap of any one project!
It is QUANTITATIVE and therefore "value" modelling which translate to MKT Cap.
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The Glen deal with Cameron giving pic credit means its reached a new C.V height.
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LoL. Quite possibly. "To reach a new CV height", sounds like it should be a dictionary definition. ;-)
I will look for the Fortesque iron ore they are looking at. Their off-take from recall is to Johnson Matthey. So their connections are not to Glen.
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Got to do more work re: NT. The NT is more obscure.
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I'll certainly be interested in whatever you uncover. Though I'll likely not start doing my research in depth on any of our up to 100% new assets (I've fully researched our Greenland 100% asset a few years back) until we have a decent news flow coming from them.
Agree.
Have you seen where the Founder came from. A small place with some 7-12 families max.
Someone screen shot a pic - that was on sale of the street.
Like all Ozzies, they come to London to further their biz careers.
He made his name via Sonora - world class.
The limit was reached there. I wondered what next.
The Glen deal with Cameron giving pic credit means its reached a new C.V height.
That is now the ladder to ?
Yes, agree, could be playing one off the other?
We certainly have a few wild cards! The MMS one caught me by surprise - and only a week or so after you mentioned its potential importance to me too!
Got to do more work re: NT. The NT is more obscure.
I too think it's likely the JV's need to become 100% owned for the project to look truly attractive. That goes for both Sonora and Yangibana. I wonder if we are playing the waiting game, perhaps playing them off each other even? We can wait it out. Probably! ;-)
The wild card may be the high grade copper or the rare earth, not sure.
The Picasso is obvious?
We may be approaching the END game.
Pay the note, play the waiting game until the assets fetch a higher price via mkt caps up, restructure assets.
Then, maybe, the NEW CADENCE - 100% projects?
This I am not sure. Some like Cameron take it to production or near production. Others wait to sell.
So, these potential 100% projects [have to do due diligence and take it step by step instead of jumping in] are near rather big projects. Its about following in their footsteps. As, they near the advanced stage, the nearby project becomes more ready ie timing.
Note Livent said they want long life, so meaning not 20 years type of thing.
The funders are not going to be happy with funding a 20 yr life mine and the rest of the 50 yr life is a JV. A 30% partner is not ideal, they would want 1 co to have 100%. Case in point? Solg and the prep to do a t/o of the 15% partner?
Yes, then there is company law and minority share.
Sonora may need to be sold to release capital. That cannot be done until the funding goes through and start of construction period wherein, value may start to accrue through the curve ie life cycle of a miner?
Like chess and in biz, one has to be sacrificed to go forward.
Hence, the direction is Tier 1 jurisdiction - Oz so the recent acquisiton of 3 lithium assets. Note word assets.
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The Founder said from recall that the agreement or contract drawn up allowed REM to sell their share of the JV w/o by your leave.
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If the terms haven't changed then from recall that is essentially the case - we can sell our 30% JV to whomever we please. However, BCN have a right to match the offer. It gets more complicated (and it gets more likely to be incorrect) than this though, for if BCN want to sell their 70% share they can "drag" us along at whatever price, unless we match the offer and take their 70%. But wait there's more... It was never resolved to my satisfaction whether we could also "drag" them along with the sale of our 30% share - I found precedent for a junior partner doing this, but some were adamant this was unlikely to be possible in this agreement. But a loophole is a loophole... ;-)
All from memory so may not be accurate, and the agreements may have changed on re-domicile! We really should find out the current legal situation...
I think it was really so nice of Cameron to give credit where credit was due.
That was yesterday ie the pics.
Today and tomorrow is THE critical factor.
Whoever got them the Glen deal is really connected to the majors?
As for Fortesque, they have a project that can last 45 years and whilst bigger than MMS, its not all high grade. So, they have to do the high grade first so pretty compatible to MMS* project - I have the figures. Ref to Oz iron ore.
From the Glen deal, if we are reading Cameron*s pic*s and tweet right, then "strike deal" re: A.G is helpful?
Then, transformational - my that would fry the shorties?
Ah, where? Let*s guess.
No, dont mean that.
The Founder said from recall that the agreement or contract drawn up allowed REM to sell their share of the JV w/o by your leave.
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6)Lenigas told investors years ago, that the BCN JV was structured in such a way legally, it could be SOLD without BCN*s approval. Need to confirm or re-check so dont quote me. That is what I recall.
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This is a bit of a contentious topic - I've been over it several times over the years. However, whatever was the case when BCN was domiciled in Canada, isn't necessarily the case now they are based in London.
I have seen the JV Yangibana map last night from their site.
As for attributable value, I think % is not as good as broker*s % of NPV.
Looking at a potash project, it is also % of NPV. So we need to guess size and apportion NPV akin to Stage 1.
What about Sonora and what I said about the legals?
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Did you see the dots from Cameron McCall ? Pic 1 - Suckling in a restaurant : "TALKING DEALS"- looks like in London and tweeted by him. Pic 2- Cameron tweets he is at Cadence in London right now with map. Date: 28 & 31 Oct 2018. 5 months later, the Glen deal. Cameron LIKED the 3 tweets : Story 1- pic 1, Story 2-pic 2 and Story 3-Pic 3 last one or two nights ago. He liked all three of the story of the pics leading to the deal. Nice.
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That's some great detective work. It certainly is not what you know, but who you know. But I know you know that ;-)
The FT etc reported Lynas and the $1b takeover. The details: Lynas is the biggest outside China.
As for HAS, its NOT going to be a small player?
Rare Earths are in play?
M & A - so rare earth is good to go?
All EV commodities as well including copper as mentioned by Green.
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How big is the JV area - then we can get an idea of multiples or the same as the Stage 1 project.
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The JV map can be found on page 19 of this report (and elsewhere!)
"APP Securities Company Research - HAS" (26 March, 2019)
https://hastingstechmetals.com/
https://hastingstechmetals.com/download/46/research-reports/4914/app-securities-company-research-has.pdf
From that report you should be able to get an estimate of how much of the current resource and reserves are attributable to us. My estimates are ~7% and ~6% respectively.
I am not sure but I know from biz, it is the strength of one*s connection. If one know X, they can introduce to Y.
Hence, GGP needed Rio*s Ex-Copper Chief as NED to do negotiations etc and specially appointed for that.
For HAS to get some A$400m+ is not easy. Its a whopper to lend especially in Oz. Its an infrastructure fund so that lending to biz - wow- where*s the connection or who?
If we can find the dots then helpful.
Did you see the dots from Cameron McCall ? Pic 1 - Suckling in a restaurant : "TALKING DEALS"- looks like in London and tweeted by him. Pic 2- Cameron tweets he is at Cadence in London right now with map. Date: 28 & 31 Oct 2018. 5 months later, the Glen deal. Cameron LIKED the 3 tweets : Story 1- pic 1, Story 2-pic 2 and Story 3-Pic 3 last one or two nights ago. He liked all three of the story of the pics leading to the deal. Nice.