Blencowe Resources: Aspiring to become one of the largest graphite producers in the world. Watch the video here.
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Covid and it’s fall out has not left anyone unscathed, some realise it more immediately whilst others will feel the ripples at a later date. Pere was hit hard by the Cu price plummeting, workers forced to isolate 2 weeks and must have had difficult decisions in terms of allocating cash. A drill program to extend mine life, drilling to explore extensions to mineralised areas, back fill and modified mining studies, study to convert any resource into reserve, underground mine development to name a few competing priorities. Some of these have obviously gone to the back seat when cash was tight and the co was at risk of sinking. This latest $3m injection alongside improving monthly advance payments (based on monthly Cu price) gives me some assurance that we are no longer against the tide. Longer term investors (myself included) will of course be wary given past disappointments. It’s still high risk and some may prefer watching the story develop before buying in further. Just my thoughts in the interest of balance.
Yep that would improve sentiment, Gati doing some media because all he seemed to do with the last venture in to the media was sound as if all was rosy in the garden when the opposite was true so I think he has a bit a credibility to build there. Still waiting on the vastly overdue drilling results. Will we ever get them, answers on a post card.
Lets hope for a turnaround soon eh! Think we're just not on the radar at the moment - maybe Gati needs to do some media, with some updated figures , to show that things are looking up and our market cap is just way too low.
Agree Majic: all valid points. But depends on ones own risk appetite. 33%—11% was unexpected and destroyed fragile sentiment further. We have an 11% stake in a producing mine mill complex, with stated capacity of 20ktpa Cu and 24kOz Au plus silver. All commodities on upside with significant cash flow if the trend continues. The payments due have been moved from Pere to Minto Exp, with support from the majority holders who have deep pockets to weather any down turns. Debt on Pere is the director loan (2.95m £) but most of this is covered by the CAD3m that we recoup from Minto Exp, both due in 2022. Upside includes ramp up of production in H2 20, mine life extension and new exploration, all of which commenced over 6 months ago. Only numbers will change sentiment here. DYOR. Good luck all
I doubled my stake here this morning with EUA profits.
09-Jul-20 09:21:36 3.3582 250,000 Buy* 2.75 3.50 8,396
I like the assets and opportunity we just need Gati to deliver! As he has plenty of skin in the game he is certainly incentivised to do so. GLA.
Majic, it looks like we are the only ones who see it this way. Others I am sure will cotton on soon enough.
Yep. Was about to make all the points you just have!- Cannot understand why copper is nearly 2.88 now which is the January highs, and we are 3.25p!? We were around 16-17p when it was last at these levels, so even as a straight division its should be 5.5p. This doesn't even take into account all the liabitlites removed either! Big re rate due
Has anyone noticed the surge in the copper price? At the low in March it touched $2.15 a lb and is now trading at $2.84 which is a 35% increase. In fact $2.84 is nearly the year high for copper. Minto also produces gold which as everybody knows is on a roll.
I appreciate our reduced stake in Minto is only 11% but with Copper and Gold on bull runs there must be more value here than 3p.
Add to the above the debt obligations which have been removed ($10-20M).
We need more detail on how Minto is doing but if there is a sniff that things are now working out, this could take off.