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Ah, that is plausible. Thank you.
Ric, might be their private client arm.atb
Interesting RNS about UBS Group AG Investment Bank taking a (first?) notifiable holding. I don't want to be one of those people who points at Nominee II Tr-1s and mistakenly claims it's an 'institution buying', but I don't know if this is significant or not. Can anyone shed any light?
Rio Tinto has made a $2.7 billion offer to take majority ownership of its giant copper mining project in Mongolia.
Follow the money.
But this will pay off massively. Stupidly undervalued. Still holding tight for 13p plus. GLA.
30grand buy
Copper for delivery in May rose on the Comex market in New York, touching a high $4.9490 per pound ($10,910 per tonne), more than 3% compared to Thursday’s closing. The bellwether metal is up 10% since the Russian invasion of Ukraine little over a week ago.
https://www.mining.com/copper-price-hits-all-time-high-on-fears-of-supply-crunches/
https://mintometals.com/wp-content/uploads/2022/03/Minto-Metals-Corporate-Presentation-March-2022-2.pdf
Updated (March’22) and very impressive presentation
https://twitter.com/pembridgeres/status/1496056176915668993?s=21
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Large Ownership by Board & Management
Institutions 58%
Board & Management 32% (19% owned by Gati Al-Jebouri CEO & Chairman)
Retail 11%
Squeeze on stock with new assay results and repayment of CAD$4m loan
With Copper rising and a pull back to historical levels I would say PERE is a perfect time to buy and take advantage of the wider market.
28 July 2021
2021 Drilling Programme
London, United Kingdom - Pembridge Resources plc (LSE: PERE) ("Pembridge" or the "Company") is pleased to give an update to Minto Exploration Ltd.'s ("Minto") exploration plans for 2021.
On 24 May 2021, Pembridge announced an exploration drilling program aiming to explore undeveloped parts of the licensed Minto Claims in and around the existing deposits and infrastructure that, based on past geophysical surveys and geochemistry, are highly prospective. The first drilling was started on July 20th as planned in the Minto North area. This is the first part of a planned 27-hole drill programme. A total of 13,220 metres of drilling is planned for 2021, and the final results from this programme are expected in early 2022.
Russia is worlds 6th largest exporter of Copper
Not anymore!
CaneToad, Minto is all about exploration and increasing the jorc in 2022.
https://ca.finance.yahoo.com/news/minto-metals-receives-exploration-permit-113000259.html
I can’t see any hope of a dividend until 2023 at least, and more likely 2024. That’s why there is so little interest (like/retweet) in Gati’s tweets about buying and developing new assets. Gati keeps telling us what he achieved with Lukoil, but he did that with Lukoil’s resources. Now he has NO resources. There is NO income. We are more or less an investment company now with some directors to feed.
I think you did the right thing switching from PERE to MINTO. I’m still in profit, but I’m not selling at this level. Anyway, if I started selling, the MMs would be dropping the price soon enough. I’ll just stick it out as I can see a decent profit coming, depending on Cu holding up and exploration results.
At high copper prices, Minto was a cash cow with Capstone. I'l bet their regretting selling it. Given that copper has been close to the ATH for a year now, Minto should be starting to make serious money and perhaps they'll pay a dividend this year, giving PERE some income. That's just my educated guess as a past shareholder. I could be 100% wrong.
eh there was a RNS.
draft
"any thoughts chaps"
Strange increase in SP without any news - but very low volumes, and a biggish spread...maybe just a benefit of being a long way away from Ukraine! lol Mayt
any thoughts chaps
CaneToad, I agree all that. Gati keeps tweeting his strategy, but with the MNTO holding as his only asset, where is the cash coming from to buy anything?
Just reduce expenditure to minimum, take your salary from MNTO and your interest on the loans you made to PERE and wait for those dividends, whenever they arrive.
@K3VMC: There is no liquidity in MNTO itself. It's common to have days of zero volume. I thought it might do OK, but it seems that listing the shares on the Venture Exchange has been a mistake. This time last year, it looked like Minto was on a trajectory of increasing Sumitomo receipts and profitability, but capex now seems to consume everything in sight.
PERE is now a fund. And funds often trade at a discount to NAV. For example, Georgia Capital (CGEO) trades at 50% of NAV and it holds a decent sized portfolio of Blue-chip companies. For CGEO, I guess the market discounts the price due to perceived geopolitical risk. PERE has nothing like the financial strength of CGEO, nor does it have the corporate governance or history of profitability. There's the reason for the discount to NAV.
On the positive, Minto must be starting to make some money at the current copper price, so things could improve in the medium to long term.
Good luck.
Undoubtedly, the market likes green deals.
There is no prospect of Minto dividends in the medium term. His only source of income is dilution of existing shareholders, apart from himself, because he buys them at a discount.
Have you tried selling PERE shares recently? I have, but there is no liquidity. Why does no one want my shares at a 40-50% of their Minto value?
but market likes green deals.