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Nickel down around 2% today and you tend to get these inexperienced trader/investors thinking that today’s Nickel price is relevant. We have had a breather today , we can’t expect the SP to keep doing massive moves. Could be we consolidate 3.5-4.20 area and move up towards end of June if finance is on track.
We will have our day in the sun , it’s just when !!
Absolutely agree with Wasa but I think covid-19 has no impact. By the time we start building this it will be 3-4 months out and if you look at other countries construction sectors have never even stopped !!
If anything Covid-19 has made things more bullish as Brazil’s currency has depreciated and the Brazilian admin is relaxing regulations and encouraging business. Not to mention the huge stimulus packages for infrastructure and the EV revolution been put in place.
Personally although we might not get any news if Jeremy reiterates that all is on track and talks positively then that might in itself give the SP a shot in the arm.
Think I’m more thinking that JP has sold its shares and they have been absorbed and re-rated due to selling having dried up. Plus covid rebound like on most stocks.
Buyers held off for now , let’s hope he comes out to play and soaks up all the traders again.
Nice move over 4P again would catch the remaining traders out.
The sp has already taken its hit re CV19 so I think any further mention of it as a reason for a delay won't impact too much on us. For me as well, financing is the real biggie. Get this sorted and the sp should easily move out of our current range and re-rate. Just how much it re-rates is anyone's guess
Hi 600Thieves yes and I expect the caveat 'depending on lockdown' to mean exactly that - the situation in Brazil.
I have always been more concerned about the financing aspect as I see it as the company making event. If they can get that right, a delay to start due to the pandemic itself (for me, personal viewpoint) is neither here nor there. The big ticket item is financing and I'd like to hear tomorrow that we think it is going to complete in 4 weeks time! If it can and we can't build till October, so be it. Must be somewhere you can put $443m in the interim (just joking, I know that's not how that works).
You may well be right but one thing that has changed since then is the pandemic in Brazil, now the epicentre with an appalling death rate. I accept the mines are in rural areas. Since the company has also stated that the only thing holding up building Araguaia is the finance, the company might want to, or be forced to delay the start. Time will tell. ATB
It can't have helped but 'on track and not delayed' is what it is - it is a bold statement to make by the company in the latest results. There was an opportunity already to announce a delay when everyone was expecting it, now the expectation has been set that there isn't a delay (unless affected by lockdown) so we will see. People will obviously be trying to read the language JM uses tomorrow and make up their own minds.
If we are on track then we are ridiculously close (in time). It kinds of has to be one or other. I always think the closer you get to your stated timescale and announce a delay last minute you cause a bigger problem than announcing it earlier. If we were going to be delayed I would like to have heard about it before now - plenty of opportunity for an update in March/April when things were kicking off good and proper around and about but we got reassurance then. We will see!
I attribute recent rises to two things really - rerating (like rest of market pretty much) from the initial covid shocks and secondly the expectation (company having confirmed on track) of finance.
News of delay to finance is likely to send us down, how low, don't know. Not saying that is coming, but if. In the meantime we probably haven't had enough crystal clear news (Cannacord buying aside) to give us that nudge up beyond pre-covid territory.
Will that change tomorrow? If there is no RNS I can't see material new facts being discussed in the evening call - perhaps a reiteration that we are on track, maybe confirmation of timescales but surely new information can not be released then. Will we get an RNS? Don't know, I'm probably not expecting one, but it will be a pleasant surprise if we do.
I'm sure a lot has gone on behind closed doors but until we know more about what, it seems unlikely we will re-rate. Maybe in the case of Horizonte the info is just not 'leaky' enough as it appears to be sometimes on other stocks :)
Lets see what JM says tomorrow and take it from there! I doubt we would fall below 3p unless there is a chunky delay because I think sub 3p territory represents covid panic levels. Whilst S America may be seeing the worst of the pandemic now the rest of the world is starting to move into next phase. Long term economic detrimental impacts of course but initial panic over. World still needs nickel etc. prices haven't collapsed.
Bid/Ask has been steady all morning and 100% showing as sells. We all know this will be rubbish as many a time we have bought and it shows as a sell. Using the average as a determinate creates a false picture. I’d love to see a better representation like HM Land Registry uses the actual sold price. Any suggestions?
FiremanSam1968 posted the very same link yesterday (16:04). Not happy to have read it but on the other hand, there are so many underhand going on with banks etc, On balance, I don't think it is related to selling here. ATB
Good advice Worzel My granny alway said. " if , if's and am's where pots and pans there wouldn't be no need for Tinker" This will hopefully come good in the end , I the majority of my eggs in this particular basket . Good luck to all LTH , stay safe.