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Nordic is only making up 2.5% of my total shareholding so definitely not over exposed on it, but some error of judgement in other shares, particularly EUA which is about 13% of my share holding.
2026 will probably be the latest I can possibly allow myself to be working till as my wife is already retired and getting a bit fed up of me still enjoying what I do!
I think this is one of my safest investments now due to the project funding sorted and I hope to see income from it for a few years of possibly sell up and take the growth into the pot.
Good luck Mick.
Hi Tenantry
I'm in a similar boat (with similar investment experience). And I also like the way this company has progressed, albeit not overly pleased with the amount of dilution, but at least they are fully funded with a clear pathway to production.
At the moment this share represents about 18% of my SIPP (high % for me), so it is a dilemma for me to participate in the repair, but on the other hand, it would be wrong not too.
The early construction works is well advanced and on schedule, they are fully funded with ample contingencies (55m), production commence end 2024, forecast returns 55-80%. For me, whats not to like as my planned retirement (all going well) is first quarter 2026. So keeping the share and reaping the dividend is very much an option for my retirement....Good Luck T
Good evening Mick.
To be honest, Im not really that clever when it comes to stock watching and what a stock may be worth in x amount of time so its all about where the value may be in a couple of years
75 % of my share holding is in my SIPP, I'm lucky that I'm still working and can contribute decent amounts to it from my Company.
My portfolio is made of what I would call longer term income shares, but also ones which may see good growth over the medium term.
I was comfortable with my holding but reacted immediately to the placing by buying 10000 more shares at a little bit above placing price, I should have done soe more research and got a few more for my money after the EGM..my bad.
If I could get 35p it would mean I had doubled my investment but I will see if I add some more after the EGM, but I do like the feel of the company and will play it by ear on where the company is when I need to consider drawing down on my pension pot.
PS I think you'll find that there is a clause in the 'Subsequent Offer' that if the SP is at or below the offer price, then they have the right to cancel the repair offer.
Hmm....no response from management to my email on how this deal benefits all (small, large, new & old, their words). Very disappointed.
I know what you are saying about buy now instead of waiting as there is no difference in price. What I was thinking, was to buy now what I would have at the offer, and if the price has increased at the offer date, could buy again at the offer price. But the only thing with that is that I would end up with a larger percentage of this single company than I would have liked. Still weighing this up against where I think this is going in a couple of years time. My target after funding, construction and into production was a minimum of 35p around the first Q25 (seven fold gain current offer price). But it has really put me off that they never answered my email. Do you have a target range?
Any thoughts Mick. Seems like the time to buy to repair is now not waiting for the outcome of the EGM.
Many thanks Mick.
Regards
Hi Tenantry....see below link to notification of Extraordinary General Meeting on 30 March;
https://tools.eurolandir.com/tools/Pressreleases/GetPressRelease/?ID=4254499&lang=en-GB&companycode=n-nom&v=
A good way of keeping up to date is subscribe on their website, link as follows;
https://www.nordicmining.com/investors/subscribe-investor-information/
I have sent them an email politely asking how this private and subsequent (repair) offerings benefit me when the price would have to go up to NOK 1.93 before I go back into green territory (and that is after I participate in the subsequent / repair offering).
Cheers for that Mick.
I've not seen any indication of repair offer being made yet and I note that LSE does not carry any news info so Im hopeful that any offers from the company will drop in as messages in my HL account. Would you be so good as to keep me updated if you see or hear anything about it and I will do likewise.
Cheers
ditto on your sentiment, especially the link to Keliber as that was one of the main reasons that attracted me to NM. And now, I think I'll be hanging around for the estimated 50 - 80% dividends (as forecast in latest presentation) in a short couple of years time. Funny you referencing the current SP as I was just re-watching the recent podcast - https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20230207_2
Around the 21:40 mark they specifically reference the impact of the private placement on shareholders and indicate all new, old, large and small will benefit. Doesn't look that way on paper at the moment. Think may ask them where my benefit comes from as it's not really apparent at the moment.... ;-/
Looks Like the MMs are taking the price down to the repair price Mick!!
Hi Mick.
I caught up with the offer, so yes on reflection glad I didn't get impatient.
Cheers, nice to find a shareholder on here.
I bought in for the lithium connection through Keliber and was wondering whether to sell up once they sold to Sibanye.
But I got a feel for the engbeo project and it sits with my timescales.
Going to have to average down now.
GL and please drop any nuggets you get regarding Nordic in here.
Cheers
Hi Tenantry, I think if you'd sold pre March 2nd you would not qualify for the 'repair' offer at 0.6 NOK. This is a 40% gift on the present price, and if held long term, IMO will be a lot lot lot more the nearer we come to production just a short distance in the future (2nd half 2024). A breath of fresh air getting fully funded (with a very decent contingency and working capital = total usd 55m).
Looking forward to the subsequent (repair) offering which I hope will double my holdings for a miserly 4.8p per share.... GLA
Mick I've been in this share for a little shorter period than you. I like the way they do business also but I wish I had done a little more research recently and sold down to buy back in after the placings?
My bad!!!!
is just about upon us. I've been in this since Aug 21 and seen some good steady progress throughout this time, even though we've had to fight through the courts (x 2 wins and pending result from Supreme Court). Final part of the financial jigsaw is also about complete (private placement & repair offering) to be voted on at special meeting 3 March. I really rate the way these Norwegian companies are run (also have Freyr), and hope to participate more in the repair offer....GLA
This share seems to be doing reasonably well, I'm in it and its steadily risen by 25% (Nothing to do with me Haha)
Looking at this stock as potential for growth in the long term. The BB is extremely quite and wondered if there are any views from existing holders / interested members.
..........?
are you related to the other nordic mine....... well?..