Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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"Of some relevance is the opening of a new smelter in Sweden to run mainly on hydrogen - they are anticipating a significant increase in demand for steel in Europe in the coming years as huge infrastructure projects are started Europe wide to mitigate the damage to economies by Covid. Whether this is or will generate interest in bringing Grangeburg back into production remains to be seen but although Sweden has significant iron ore deposits in many locations it is always going to be easier to recommission a mothballed mine that start something from scratch and the hydrogen angle for the new smelter designed to reduce the large amounts of CO2 produced traditionally from making steel is going to encourage Swedish steel making significantly."
Haha. European steel production has been stagnant or falling for decades. The reality is any increased use of steel for infrastructure in Europe will be provided for by more imports, until they get serious about a carbon border tax, which in reality is still a long way off. Talk is cheap. Action will be controversial, and so it will be phased in over long implementation periods, to ensure it is not disruptive. In the short term before they get serious about that sort of thing, the Hybrit process you refer to in Sweden is just going to increase costs further, making Swedish steel more expensive. Currently the only plant under construction is a relatively small scale demonstration plant, so there won't be any additional capacity for the next 5 years at least, and the quantities involved are very small compared to the overall market. Its just them hedging their bets that something might need to happen, and if it does, they will be in a strong position to capitalise by having the most advanced technology for low CO2 emission production of steel. When more hybrit-type operations are built in Europe, they will likely replace (partially) existing capacity, not be in addition, and again this will only happen when and if the EU actually start to implement carbon border tariffs. There won't be any overall increase in demand domestically for iron ore as a result. SSAB have their blast furnace in Oxelösund (near Grangesberg) pencilled for closure in 2025, and its replacement will likely be smaller in capacity. On average, the steel market has been in surplus and generally unprofitable for companies in Europe for decades, which is why gradually capacity is being closed. Companies are desperately trying to move up the value chain, producing more speciality steels, but lower in volumes, especially in Sweden - and this isn't conducive to creating more demand for iron ore. Your research is poor and heavily rose-tinted.
Isc - i was referring to the one of the eleventh of January in response to Mikeys question. Also the company's website is usually quite informative
Hi, has a RNS been released?
Have a look at the RNS about the PEA what little information the is is there
Aym looking at getting more base metal acquisitions... ohh tell me more ... anyone know any more details of this .. ?
AYM is not AIM.
The fact that he's close to breaking point and selling tells me two things: he bought too high and the price is close to the bottom.
Neither of these facts reflects badly on the company.
LSE is full of investors complaining about companies when in reality the only thing that is wrong is that they overpaid for their shares.
Dukey - If you've waited this long I suggest you wait until at least towards the middle of the month. We know that a LIM PEA is due and if it comes and it coincides with something from AYM and the SP rockets (which is not at all fanciful - but not beyond the low teens at best for now imo) you will be kicking yourself. I bought in very low so it's easy for me to say but only about 7 weeks ago this was above 8p for some time and I think it'll be back there.
You have to do what is right for you of course and there are no guarantees in these things but just my thoughts in a somewhat frustrating environment.
Of some relevance is the opening of a new smelter in Sweden to run mainly on hydrogen - they are anticipating a significant increase in demand for steel in Europe in the coming years as huge infrastructure projects are started Europe wide to mitigate the damage to economies by Covid. Whether this is or will generate interest in bringing Grangeburg back into production remains to be seen but although Sweden has significant iron ore deposits in many locations it is always going to be easier to recommission a mothballed mine that start something from scratch and the hydrogen angle for the new smelter designed to reduce the large amounts of CO2 produced traditionally from making steel is going to encourage Swedish steel making significantly.
That's a normal reaction from a typically-impatient AIM investor during a normal correction.
SP dropping like a hot potatoes. I'm starting to think this company is a waste of time. So much smoke and never any fire.
Im very close to taking a loss and selling. i can move the funds into shares i have that are only moving up due to recovery after covid and actually make some money.
SP dropping like a hot potatoes. I'm starting to think this company is a waste of time. So much smoke and never any fire.
Im very close to taking a loss and selling. i can move the funds into shares i have that are only moving up due to recovery after covid and actually make some money.
Hold not bold
I realised that and did thnk about it but the shares had to be sold by some one or more than one person for the other half of the transaction - unless the market makers are bold deficit to be filled on books - in which case one would hope they would teeak the price up to set done sellers to balance the books
The 600k print was definitely a buy.
Wonder if this was a chunk of the rights shares filtering through
...and a 150,000 buy just gone through. Fingers crossed someone knows good news is on the horizon.
Good spot, also a buy of 200,000 this morning . . . . . . . perhaps we do finally have incoming . . . . . GLA
No, it was deffo a buy at that price on the 2nd.
Actually the trade was on the 2nd but wasn't reported until this morning .... I still think that what I said stands and it's pretty much all decent sized blue buys now strongly indicating positive news is soon to be forthcoming imo.
It says buy, but price looks more like a sell?
There was a significant purchase earlier this morning of 600,000 shares at a cost of more than £33k .
For this kind of share that's usually an indication that some notable news is just around the corner. My guess is that it won't be until next week to allow some clear water between the purchase and the news.