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Well, I guess it's now clear why he sold a bunch of his shares...
My investment here was influenced by having JT and I'll now have to rethink why I'm here. Difficult to understand the motivation.
adv11 I take it you don't like alternative opinions that don't chime with your world view
When I think they have been punished enough and the risk/reward is more favorable I may revisit APF
Good of you to care enough to stick around and deramp.
Not surprised he is leaving.
I think he has damaged the long term prospects of APF when suffering from ESG fever by over committing them to Voisey's bay. The future of APF is the now the future of Voisey for better or worse. I thought this decision was a gamble / poor risk management when it happened and personally I departed.
Looks a safe bet but can't see any update on Brazil. Want to see the bod buying in and jt not selling. New ceo doesn't need to change much and consult jt. Good divi flow compared with others
Has a good background and needs to contribute as this share has gone nowhere fast this year. Still holding but sold a load and at the moment rather pleased I did. Wednesday results are eagerly awaited
Looks like we have someone to hold Kevs hand and bring more confidence to strategy and keep the money flowing in
Nice dividend from APF hit my account today (3.75p) and now awaiting with interest the next update from the Company.
Thanks cherryburn, I registered with them.. can't do any harm to see some extra free research in general. I also watch coking coal news via google listening for articles that mention it - but this tends to generate quite a lot of noise that I can't always be bothered to wade through!
Dusty.....I receive a daily report from SP Angel in London which not only comments on various exploration/mining companies but also quotes most base metal, precious metal and industrial commodities including iron ore, thermal coal and coking coal. With the latter trading at around $200 per tonne , I agree that the Kestrel royalty will be of major significance for APF in the next couple of years.
I found the below which seems to suggest prices are in a nice place for the kestrel royalty at least. Still be interested if anyone knows any where to get more of a day to day idea.
"Argus-assessed Australian premium hard coking coal prices on a fob basis rose by $3.25/t to $219.25/t on 6 August, and up from $107.15/t at the end of April."
https://www.argusmedia.com/en/news/2242322-australias-rba-downgrades-resource-export-outlook?backToResults=true
Does anyone have any suggestions of where it is possible to monitor coking coal prices? I used to look at metal bulletin, but it seems to have become more restricted(without paying) on the information you can get since I last held here..
SD - thanks for the link. All adds to the sum of knowledge of a commodity we don't get to read much about. Currently $24.36lb.
Not much specifics but some reading material, if you have spare time.
https://www.institutionalinvestor.com/article/b1st89ttmv26n6/the-blue-metal-why-the-outlook-for-cobalt-has-changed
Thanks sundancer, I hadn't seen the news about flooding. The implied rate of deliveries in July also suggest that q2 may have seen some lag effect and may be an exception. Still every possibility(if coal/cobalt prices stay decent) and volumes are good that h2 could be a record half for APF. Would be very nice indeed to make a big dent in the debt taken on for the acquisition. I do wish they would stop saying 'transformational' though :)
There was a flood at the mine in Voisey's Bay in Q2 which has since subsided. The update did say deliveries only really did come in towards the end of the quarter and it looks like perhaps after initial teething issues(i.e climate), a better Q3 ahead. Chance to top up for a quick 6-month capital return, I'd say. Yielding around 6% at current share pricem
https://www.mining.com/web/vale-produced-75-7m-tonnes-iron-ore-in-q2/
Sorry for typos, that's meant to say 'expected to earn $23m pa' and 'earning some decent money in h2'.
Does anyone have an opinion on the performance of Voisey's Bay thus far? From the update it seems to have contributed $4m between the end of q1 and late July. Though wasn't it suggested it was expected to earn $23 pa? Maybe there is a lag in deliveries..? But the update also suggests it is 'outperforming expectations'. Though at that rate it's not close to kestrel when firing on all cylinders.
Beyond that it's mostly about kestrel.. and hopefully with c$200 met coal prices that'll be earning some decent money in q2.
Underwhelming update.
The shares have already drifted South in the last 3 months in anticipation of these results.
The outlook for the next reporting period is already firmer, so I expect the shares to pick up again over the next few months.
Agreed, results do not set the world on fire. Time will tell but dont see a rise coming at the moment
"With ~US$29m of undrawn borrowings, ~US$39m residual position in LIORC and ~US$8.0m of treasury shares, the Group has financing flexibility of ~US$76m to finance further growth opportunities"
Perhaps they're also be selling some of the treasury shares? Continuing selling pressure here.
Thanks Gino.
Price rockets. Bodes well for future revenue
OK - Half Year Trading Update was 24th July. Actual results is more a case of dotting the i's and crossing the t's.