We would love to hear your thoughts about our site and services, please take our survey here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
I like this little statement which is in that link -
"Due to the high quality of ores that form the basis of the domestic raw material base, the leading producer of PGM, PJSC MMC Norilsk Nickel, like the country as a whole, will retain its leading positions in the world market."
Only if strategic moves are made to stop others from gaining any advantage. Bid high NN, you know you want to ; )
GLA
Interested parties in Monchetundra since 2015 Adrianlse, and i fully agree, this is a value squeezing move from the BOD, FSP to pit all interested parties against one another -
"Christian Schaffalitzky Managing Director of Eurasia Mining said "We have always considered Monchetundra to be an attractive project and the recent expressions of interest, including the concept of an outright proposal to acquire the project,"
https://www.lse.co.uk/rns/EUA/procurement-construction-commissioning-contract-pr7u5e8x4kyh49j.html
GLA
There’s always been a bidder here. Someone has been sniffing around for years.
DS played them by shoring up the resources and obtaining flanks. The offer would have been revised. RNS and videos support this rationale.
At that point they have instructed UBS to add competition so the initial party offered the fair price(don’t bring any low ball offers).
UBS have done the job so far, advertising and brought forward non binding offers of various structures. Proved by RNS
He’s squeezing every million out of the original buyer.
I’d be surprised if it was NN however if there is a binding offer at this point and it is not NN, given their recent operational difficulties, they’ll be running back with their tails between their legs saying what’ll it take to secure this.
It's a strong possibility Robert, many open pits are required at Monchetundra to move it forward effectively and what lands in legal exclusivity of the next flanks area app gets mentioned everywhere you look in third party ground data -
"The most significant of them are the Vuruchuayvench deposit in the Murmansk region with reserves of low-sulphide platinum-metal ores containing 104.1 tons of PGM,"
GLA
Nice link Broxburn. NN will buy Eurasia imo, they have problems at their great assets, they now need a rock solid back up plan in an easy to mine format, that comes from Monchetundra.
GLA
Below is a link to a pretty comprehensive report on Russian State approved palladium and platinum resources from 2017. There is a lot of information in here, so I won't attempt a precis, but it does show the vast scale of PGM deposits in Russia.
Eurasia gets namechecked around 2/5 of the way down the page re. Tylai-Kosvinskaya (West Kytlim), but also contained here are the breakdown of state approved resources as below for the MT area as at 2017:
"In the Murmansk region, Terskaya Mining Company CJSC (a subsidiary of the British Eurasia Mining Plc) completed exploration work within the Monchetundra massif in 2016, which resulted in the first accounting of PGM reserves for open pit mining in two blocks of the Monchetundrovskoye field.
Loipishnyun and West Nittis : 0.34 tons [10,900 troy oz] of category C1 and 26.2 tons [842,350 troy oz] of category C2; the palladium to platinum ratio averages 2.2: 1. The ores are classified as ordinary low-sulphide platinum-metal ores, enrichment is possible according to an inter-cycle flotation scheme to obtain a copper-nickel-noble metal commercial concentrate with a platinoid content of 75–95 g / t.
At the end of 2017, Rosgeologia completed prospecting work within the Monchegorsk ore region with a predictive assessment of the platinum content of the Nittis-Kumuzhie-Travyanaya and Nyud-Moroshkovoye massifs; resources have been tested in the amount of 24.4 tons [784,500 troy oz] of platinum and 99 tons [3,182,900 troy oz] of palladium in the P1 category and 5.1 tons of platinum and 34.9 tons of palladium in the P2 category.
https://nedradv.ru/nedradv/ru/resources?obj=ab05b068239ede80d3dd35cf40743ddb
The current MCap of Norisk Nickel is c. £34.3bn just to give some perspective...