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There is plenty of news due/overdue
1) Updates on private company called Fodere which Jan have circa 7% interest in. They should be making solid progress towards being producer in 2024 with revenues circa $100m on high volumes. Previously advised would be funded 100% by debt. That’s just stage 1. If all goes well then stage in later years would increase throughput and see revenue of nearer $500m. Market unaware of fodere, but if all goes to plan it’s a $1b+ MC companyat stage 2.
2) Updates on Jangada pitombieras project. We’re waiting on ore being tested using Fodere propriety tech. All going well this would vastly increase the titanium credits, therefore project economics and attractiveness to offtakers to fund the project
3) New acquisition. Been mentioned since start of year. In country director taking lead on these negotiations. BOD are targeting non core assets of majors with unicorn potential and where any payment is down the line on milestones. Whilst no specifics are known the last acquisition made by this director was for $1.3m with it being floated shortly after for over $100m. So it’s the dark horse as in we don’t know what it could be, but the Director negotiating has form and could be transformational.
There’s not been any meaningful update for 18mths which has punished company and lead to lots forgetting the excitement. Pitombieras project already has a post tax IRR of 100% and npv $97m and trial mining licence in place. In current set up iron ore is chief commodity. Recent increase in iron price also helps make project in its pre fodere plant scenario more likely for offtaker funding (although think it’s fodere plant option that will be most likely route).
Took a starter position today. Will add on any dip from here.
Some nice volume here past few days.
News expected? Or just undervalued as market is turning? Looks good for £6m. Very tempting I must say.
Regarding new acquisition/s. Not been posted for a while, but Luis taking lead on the negotiations. Recently bought asset for $1.3m to then floated it at nearer $100m with institutional support (all in prospectus below). Definitely the right guy for opportunities in Brazil!!!
https://bravomining.com/site/assets/files/5752/20220715_bravo_mining_ipo_final_long_form_prospectus.pdf
Looks good to be fair. I took some a couple of weeks ago as its fallen a long way and doesn't appear to be much downside risk around this 2p mark. Few more buys and it'll back towards 3p
Looks like this may be back in play soon
Perhaps more relevant for offtakes than price… I suspect though it’ll be offtake on tio2 that’ll be more likely to us..
https://uk.investing.com/news/stock-market-news/iron-ore-deficit-looms-goldman-sachs-forecasts-supply-shortfall-for-yearend-report-3234554
Artyth, i also added recently (150k), it feels very lonely being a buyer among the sell/s that happen every day though!
As I’ve posted I believe we’re definitely in period I expect to see Fodere updates at the least.. Hopefully it’ll soon be clear on why i believe just the Jangada stake on them will soon be worth more than Jangada current MC…
No idea though on where company is on the new acquisition/s references as being in the coming months way back at the start of the year. I believe Luis is taking lead on these and with what he done with Bravo it’s the dark horse of the possibilities here. Nothing to speculate or research on though until it’s announced and we can review..
Just had a little top up. Showing red.
A dry, hot zephyr pushes the tumbleweed down the main street......the townfolk look parched...
Their weary eyes once again look to the empty skies in a vain hope of an RNS to finally end the news drought and to help their withering investment grow! But, no, it's just another day of tumbleweed....
Small 35k top up for me this morning. We’re well into period I believe news on fodere own ops and pitombieras should land (had pencilled in from September likely). Sure some of you might remember fodere tech on pitombieras has been focus of my investment case for years and we’re finally at start of seeing this 🤞
HMI is and always has been about sales. All else there is noise. They started off not having licence to sell much and from low volumes, got the licensing to produce more and increased sells. It became a buy around summer 2021 with the headwinds of increasing sales. 5 bagger from there. This year the fertilizer sector in Brazil has crashed and HmI sales to (competitors also hit…), SP reflects that. If they can’t get sales then like any company you have to ask is there a business there?
It highlights why most mines and certainly those with anything but a small Capex requirement need offtake agreements before the build will be funded. Financiers need proof of sales basically,
Pitombieras is only getting funded by offtakers. Why we’ve been waiting so long… With offtaker agreement there wouldn’t be sake issue here though..
This is simple stuff. Make an effort to understand it. Lazy to blame BOD and not know the underlying issue, PIs that do tend to make same mistakes at different companies with different BOD. Instead know the business. It’s what I’ve been discussing for years, but feels like falls on deaf ears!
What has Brian done to Harvest Minerals? I cannot trust this man!
Look at latitude and Valore SP graph. Simply combining the market cap totally ignores,
A) the legacy latitude share count, it wasn’t a new co formed for angilak
B) latitude placing to fund their exploration
C) the placing at Valore to fund work at Pedra Branca
Latitude in particular might go in a good run now with uranium market being hot, so at somepoint the value might exceed the total Jangada got, but even if does it could hardly be foreseen when Jangada sold years earlier, plus we’d have placed.
I’d really like to see Fodere updates soon on their own operations. I’m very confident they’ll be demonstrating the investment made in them will be very valuable and in the not too distant future. Their S Africa plant fully funded by a development bank is now going to be 5 times larger than initially planned! The lack of engagement from them as well as their delays is actually more frustrating for me than waiting for pitombieras, which I appreciated would take some doing the test work.
Latitude has 60m market cap. ValOre has 10m. Combined they are approaching all time high market cap for ValOre shareholders. I get your reasoning with the placement and it’s easy to second guess now but leaving half of Jangada’s stake in ValOre probably would of been wiser move as ValOre shareholders got large stake in Latitude now.
Jangada sold their Valore shares at 30c plus, they’re now at 6c. The small rise in price of latitude uranium from the spin off from Valore doesn’t even begin to cover the difference between 6c and 30c!!
We’d also have had a placing by now if we’d just held the Valore shares…
Brian actually done well in selling when he did, both for price and when liquidity to do so.
What is to be seen is whether spending £1m on bres was wise or if he’d have been better off conserving Jangada cash.
I understand frustration on both SP and lack of updates, but BOD bashing for sake of it isn’t going to help. Phone Samaritan’s instead
Brian would have been better off keeping all of Jangada’s shares in ValOre. Their Angilak deal has made ValOre shareholders a good sum. Brian could have then sold out his shares at a much higher valuation. Poor management decision.
It’s accounts…. They’re a backwards looking statement and not an operational update, which will follow when there is an update!!
# 'I don't believe this stock will move very'
Why ain't there a bl***dy edit button!🙄
# 'I don't believe this stock'
Seem a very fluffy RNS.
"To this end, our path towards commencing development, and subsequent production, subject to, inter alia, funding, "
"Our next steps include upscaling the testwork to deliver an additional economic study to further explore the project parameters."
No definitive dates or timescales or potential fund raising parameters for Pitombeiras stated.
It hasn't even been confirmed if the 25T test sample proposed previously has even been despatched.
I don't this stock will not move very far based on investee company results alone.
So much potential here but one for the bottom drawer for now...
Honestly...... I posted that before the RNS dropped on this site.
Dear Brian,
Could you take leaf out of our investment in Blencowe and provide a brief update on the status of the scheduled test work. Would do wonders for the old morale....
Might even massage the shareprice a little.
Kind Regards
Obviously ignore me. had a rant. Can't wait for news :D
Why thank you sir, one of the nicest things said on this bb for sometime.
Your answer also would serve as a good distraction whilst we await news