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Othern you deramper, you lol ;-)
https://www.mining.com/consensus-forecast-is-for-two-years-of-stagnant-copper-prices/
For every copper price boom story there is always alternate views.
China has been choking the commods market for a while now due to covid policy. Signs are now there that China are exiting that policy which means back to business for precious metals as the long predicted post covid infrastructure spend commences.
Maxit don't need to be too cute with the sale process but any buyers or interested parties will be acutely aware that the longer they leave it into 2023, the more likely PM's are rocketing.
I said a while ago that the window of opportunity was wide open for BHP to take a pop when the market was puking on inflation in late September and SOLG were looking weak with rest of market.
Fast forward to Q1/Q2 2023 and we could be looking at copper through 10,000pt London pricing.
Any buyer of Alpala will be aware that there's 5 years minimum (poss 3 to 4 if doing open pit Tandy first) before production so the sweet spot is disappearing for copper shortage pricing as likely to meet some saturation from 2030 onwards.
Killjoy, that's my take on it.
So by borrowing the shares someone has gained votes for the AGM.
https://www.blackrock.com/lu/individual/education/securities-lending
Bogota,
"Stock lending could be leading to shorting by the lendee entity"
I very much doubt it. We're well funded now, so I don't see what there is to short?
Although maybe I could see someone taking a punt on a disastrous AGM, I suppose.
Very risky though, imo.
Investing strategy by Charles archer Headline could the west face copper shortages in 2023 well worth a read as he's a top man hope all's well in camp tonight
Thanks red, but they are still technically Norges' to vote with at the AGM?
The whole idea of these holdings announcements is that they're meant to be transparent. Unfortunately, they are so opaque they create confusion for those of us who are not market experts.
I don't like the sound of stock lending this close the the AGM.
Stock lending could be leading to shorting by the lendee entity
They've loaned shares TO another entity(ies)... 14.5 million...
Fort, I'm struggling with the RNS somewhat. It implies that the 0.631520% of voting rights (the same % as the 14,500,000 listed as on loan) BELONG to Norges, as they are listed under the RESULTING position (i.e. the position Norges now hold).
So have Norges loaned shares from another entity? I'm a bit lost here.
Capital letters are for my benefit!
Note Norges 14.5m shares 'on loan'.
Mmmm... they had 3.9% a while ago I believe with some of that ' on loan'.
Tut tut Norges!!
I did say a while ago that I think Blackrock would have trouble unwinding their 'instruments' ahead of a possible offer. I also said that we would see some TR1's as those that have stock on loan need to sort it all out before they get diluted on Friday's Chinese 180m share issue.
Can't wait to see blackjacks TR1 lol!
As they say.... there's a way to force those out for the shadows pre AGM and Friday will see some holdings declarations of interest to SOLG BoD's.
Votes matter on the 22nd.
Are these two things actually related? At the moment it appears not.
Not to put a dampener on the excitement here, but we don't know how friendly Norges are to the current BoD and new strategy. So them having a marginally greater say at the AGM is neutral until we see how they vote.
Remember, they were ploughing money into the company before all the recent shenanigans and they are typically investors for the long term (i.e. they wll want to be owning a % of Cascabel when it's producing and have deep enough pockets to keep on topping up their stake).
Last year (with DC as CEO) they voted in favour of all resolutions bar the re-election of Moller and the remuneration report. In June of this year (also with DC as CEO) they voted in favour of all resolutions.
I'm not reading too much into this at the moment. One of my worries in the run up to the AGM is that those we are up against - BHP, NCM and possibly Blackrock (Norges were mentioned too in the AFR) have friends with much deeper pockets than the self-styled scrappers who want to get this sold.
Glencore bullish on Copper
CEO Nagle sees copper hitting $15,000/tonne in London from $8400 currently.
No wonder the Chinese want us.
Now what does the PFS look like based on $15,000/tonne?? Anyone care to do the sums??
Quady/Red your right must be more news to come
So Norges Bank has increased its holding by almost 9 million shares and its got nothing to do with today's 42 million because the RNS is reporting a transaction from yesterday or last week...
https://www.businesslive.co.za/bloomberg/news/2022-12-06-huge-copper-deficit-is-looming-says-glencore/
Predicting near doubling of copper prices
Glencore to buy SOLG???? Who knows but we are hot property guys!!!
I cannot make sense of the RNS, I cannot make it add up, maybe more to come.
Well enjoy your day tomorrow everyone :):)