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If kobold are drilling at around 2,000 metres depth, it should roughly take around one month to hit that depth. So we’re likely to get initial results at some point in June?
In a relatively recent interview, I can't remember where exactly, possibly Proactive Investor, PC referred to an up to date approx. value of the Storuman Fluorspar being in excess of $1.2bln.
There's also quite a lot of info on the company web page:
https://www.tertiaryminerals.com/storuman-fluorspar-project-sweden
This is a news item from 2016, when the license was initially granted:
https://www.proactiveinvestors.co.uk/companies/news/122700/tertiary-shares-rocket-as-it-gets-storuman-mining-go-ahead-122700.html
If they get the go ahead again there should be a strong reaction in the SP.
Yea you’d like to think so. Someone did a breakdown of the valuation of storuman some years ago, cannot for the life of me remember who it was. Has anyone got that to hand by any chance? I can’t seem to find the figures in any RNS.
It's been 6 months now, so quite soon.
They'll be mindful that they need to keep the Swedish Government on side!
When do you think the re evaluation will be completed by? Got to be soon now surely 🙏🏼
I couldn't agree more. It seems pretty clear that the Governments annulment of the Inspectorate's earlier decision and referral back to them isn't intended to result in a second refusal of permission.
Is the only reason I've just reentered this share after 5yrs out. The Swedish Government decision in Sept 2023 to make the Mining Inspectorate reexamine its decision with clarifications is massive. They essentially told the Mining Inspectorate 'You got it wrong; you should've classified the location of operating facilities (e.g. sand and clearing magazines) as part of the mine, ergo it is also designated an area of National Interest Minerals'. The 2019 decision already accepted that "the area of the proposed mine workings could coexist with reindeer husbandry" i.e. giving the green light to pursue National Interest Minerals, BUT only for the designated deposit area. The planned adjacent operating facilities (critical for enabling the operation of the mine) were deemed separate and having no National Interest. Therefore, National Interest Reindeer Herding won out over this non-deposit, but essential area, scuppering the whole project. With this clarification, I cannot see any significant obstacle to a positive decision in favour of National Interest Minerals, after all they already said the mine could co-exist with reindeer husbandry with mitigations. Have a look at how much Storuman is worth, then check how much Fluorspar there is in EU and its status within the EU as a critical mineral, and the MoU made with Possehl (29 Nov 2017 07:00) and then take a look at the Market Cap. Buy and hold.
Https://www.linkedin.com/pulse/kobold-metals-mingomba-project-poised-become-jgbnf?utm_source=share&utm_medium=member_ios&utm_campaign=share_via
In a recent Financial Times article, KoBold Metals' ambitious Mingomba copper project has taken center stage, with the company now projecting it to emerge as one of the world's top three high-grade copper mines. The USD2 billion venture is slated to commence copper production by the early 2027 - 2030s, marking a significant stride in the global pursuit of energy transition metals.
The Mingomba project, situated approximately two kilometers northeast of TERTIARY MINERALS PLC's Konkola West project, has captured industry attention with its potential to redefine the copper mining landscape. KoBold Metals, known for its strategic focus on energy transition metals, has signed a definitive earn-in agreement with Tertiary for the Konkola West project, underscoring the interconnected nature of mineral exploration and development in the region.
The Financial Times article highlights KoBold's intention to drill test the projected down dip extensions to the copper ore-shale at Mingomba, the same geological formation present at the adjacent Konkola Copper Mine. KoBold's commitment to drilling at least two deep holes at Konkola West in the upcoming months signals a concerted effort to uncover the full potential of the region.
This development aligns with KoBold's broader mission to secure a prominent position in the global copper market, emphasizing the significance of the Mingomba project in achieving this goal. The proximity of Mingomba to Konkola West reinforces the mutually beneficial relationship between KoBold Metals and Tertiary Minerals PLC, offering both companies an opportunity to capitalize on the rich mineral resources in the region.
As KoBold progresses with its drilling plans and advancements at Mingomba, the implications for Tertiary Minerals PLC's Konkola West project become increasingly substantial. The evolving landscape underscores the dynamic nature of mineral exploration and the strategic collaborations shaping the future of the industry.
These guys have already selected the drill location and know what they’re doing from the mine next door.
‘Backed by Breakthrough Energy Ventures, a fund with contributions from investors such as Richard Branson and Ray Dalio, KoBold utilises artificial intelligence to locate key minerals such as copper, cobalt, nickel and lithium.’
Can’t believe we still have a £2m market cap… We’re drilling with Kobold who are investing $2 BILLION near by at the nearby Mingomba deposit . I’ll be throwing the kitchen sink at this one.
https://www.mining-technology.com/news/kobold-intends-to-expedite/
First quantum & Anglo are also interested tym licences.
Watch this space deal for jv is brewing.
Does Money Buy Happiness? Actually, Yes.
Another notion that has become accepted wisdom is that making more money increases happiness.
This is best RNS I have read since a long time. I would like to say, clever and brave small investors who are chasing TYM since a long time they very well know that there will be no placing in the near future.
Fill your boots at this low prices before you miss the train and dont regret it.
They also recently consolidated ownership of three other Zambian licenses under Tertiary Minerals (Zambia) Ltd : Jacks, Mushima North and Mukai, in order to make any negotiations for JV's easier... which makes me think there may be another deal / deals in the pipeline.
First Quantum are keen to find other deposits close to the Sentinel / Enterprise mines in order to extend the life of the mine, they have been doing airborne EM surveying of the whole license area. Tertiary have identified an anomaly which straddles the TYM / FQM license boundary at Mukai and I think there's a good possibility of FQM drilling that for TYM. They are already in a data sharing and technical agreement with FQM.
As recently as last November the broker took warrants exercisable at 0.12 that they can only convert in 12 months (up to Nov 1st 2024) or issue date.
I suspect like the company… they thought were they to get to this point of todays RNS that there would be something worth buying in for.
I’ve been here 5 years or more and it’s been along wait to finally get something concrete and positive… but today finally opens up significant upside return (and soon).
They raised November 23 and Feb 24 so hardly likely to be a raise.
Not trawled back through where this came from but ‘transformational’ news potentially…. And way way undervalued on any matrix or comparison if this drill comes up with anything ‘better than duff’.
Therefore the talk of placing is misguided and someone either who’s missed out and is talking it down / or someone waiting to get in
Everyone on LSE must know what his MO is by now. Maybe he's actually convinced himself that he can manipulate share prices all by himself!
If he's not in before it moves, he'll deramp.
The Stockopedia estimate can only be guesswork. They don't have access to the company bank accounts and I'd be very surprised if they've gone through £255K since February. It also doesn't take account of whatever the residual balance of the Co. bank accounts were at the time of the placing.
I think it's unlikely there'll be a raise for a few months yet, if at all. If the company in negotiating other deals manage to deliver some upfront cash then it may not be necessary. I wouldn't let it put anyone off buying in or topping up now.
Just buy in Earl, this is going to keep rising pre drill, during the drill and hopefully after results. Life changing gains if this one comes off.
Unusual to see Earl talking a stock down, he's usually ramping the hell out of everything in sight!
Thanks for that 1Investor. I had missed the placing in February too. So they are definitely okay for cash for this forthcoming drill campaign, which is fully paid by the JV partner anyway.
According to the Stockopedia website they have around £120k cash left
so probably spent on things since Placing in February
There must have been a technical issue on that day. I remember it not appearing.
Why This website didn't post placing rns from 12 February? 30 strange
hmm
OK thanks for clearing this up.