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The screens from the Ortex / Fitch link posted by @lovelyboy - good work!
https://twitter.com/iMuesliBrown/status/1466024881947136002
Great post LB many thanks.
And a target price of £1.03 which is healthy. Nice to see this board discussing EUA and not attacking each other. I turn off on the ranting days, too boring!
Lb & all
Great work LB as always , & Tigra post earlier & , Mac , judge & many other regular posters
I also use ortex for info .
Rums all Round
Agreed. There's charts and tables that I couldn't share here. Best bet is to use the link to view.
I found the 25% ownership part interesting. This may shed light on how / why the rosgeo jv deal is structured 75/25. Limiting foreign investment to 25% to satisfy state legislation and licensing the 75 to a Russian entity.
It's interesting stuff for sure.
ATB LB
You're right LB. However I was able to click the article and read it several times, extracting anything from it is a different story.
Fitch stating that the country's palladium and platinum subsectors will rely on Eurasia and Polymetal for production growth is really nice to see.
Once again, great find. :-)
No problem koc.
https://www.ortex.com/symbol/AIM/EUA
Courtesy of jiffybag if you want to verify the research note from fitch for yourself.
Actually you have 2 chances to view if the second try is via a private window. Clever cookies at play here.
ATB LB
Nice one. Cheers LB.
Correctomundo Mac
@Koc.
Yrs it's behind a pay wall. Full report is about £1000 I believe. I discovered it on the ortex terminal in the link posted by @jiffybag last night.
Careful! You only get one keystroke on ortex before you join their pay wall. :)
Hence the c+p to share it here.
ATB LB
Is the article only available to subscribers to Fitch?
Can't bring material from the land of make believe AREALDARTAGNAN.
What they type is made up on the spot, children trying to convince adults not to believe the facts of the situation.
GLA
Mentioned with the big boys, it's starting to become quite regular now.
The Russian mining sector is always an interesting topic, they have very vast resources over there and they have to come online over the next couple of decades, the future demand forecast makes it the case.
GLA
Interesting stuff LB, good find.......
perhaps some of the muppets may wish to take note , if you want to deramp why don`t you find material out there to support your theories??
ARD
Thanks LB. Which website is it on?
Thanks for posting LB - Nice to be seen by Fitch as being one of the main players alongside NN and Polymetal and to have got this status as a “foreign” company is testimony to the work the BoD has been doing over the past 20 years. No mention of Federova Tundra either which puts the EUA mention into context as the deposit at FT is regarded locally as being one of Europe’s largest.
excellent post
lovelyboy
Sorry can't post a link...
Russia Mining Competitive Landscape
01 Dec 2021
Key View
Russia's strict regulation on foreign investment will ensure the continued dominance of domestic miners within the mining sector over the coming years. Norilsk Nickel will remain the largest domestic player.
Russia's domestic miners will continue to dominate the country's mining industry as the strict regulation of foreign investment will prevent foreign miners from entering the sector. In our view, local mining companies will account for the majority share of Russia's mining sector over the coming years. The country's regulatory environment will deter foreign investment from entering the mining sector. The Federal Laws 57-FZ and 58-FZ aim to regulate foreign ownership and control of strategic assets and industries, including certain types of minerals, such as copper and any deposit area with mixed mineralisation. The Russian government has a tight hold on local mining industry assets. For instance, foreign miners willing to enter the domestic market must first gain previous consent from the Governmental Commission headed by the prime minister and are subject to a limit of 25% ownership in any domestic mine, as per the Strategic Investment Law. Additionally, the lack of financial resources available for miners suggests that foreign players will continue to struggle to obtain adequate mine financing. The London Stock Exchange has been the popular destination to raise capital for many Russian miners.
Main Players
The mining sector in Russia is highly consolidated, with only a handful of companies accounting for the main share of domestic output.
Norilsk Nickel is the country's largest metals producer. The company accounts for the lion's share (more than 90%) of domestic nickel output. In February 2021, Norilsk Nickel received a USD1.9bn fine from a Russian court in response to a large fuel spill which occurred in the Arctic in May 2020. In January 2021, the firm joined the Responsible Sourcing Blockchain Network (RSBN) built on IBM blockchain technology which helps improve transparency in the mineral supply chain. In 2020, the firm's Russian nickel operations increased 4.0% y-o-y to 172kt.
The country's palladium and platinum subsectors will rely on Eurasia Mining and Polymetal International in the coming years for production growth.
Russian Platinum, a member of Musa Bazhayevs Alliance Group, will boost its market share in the years ahead, having won the tenders for the rights to explore and develop the southern portion of the Norilsk-1 deposit. The area is home to one of the largest deposits of copper and nickel in Russia's Taimyr Peninsula, with estimated nickel, copper and cobalt reserves of 273kt, 378kt and 12.7kt respectively. In March 2020, Norilsk Nickel announced that Russian Platinum has decided to terminate the negotiations concerning Arctic Palladium JV. In turn Russian Platinum will develop the southern part of the Norilsk-1