The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Have any of you fine folk got any ideas what's going to be the next milestone to propel us north?
Gingy.
Assay results are one hope, which may expand resources.
https://www.youtube.com/watch?v=lHX_niYJByc
Valuation-it-is, many thanks for sharing that. Have a good rest of the weekend.
Gingy, the main catalyst we're waiting for here is the funding package to enable full production to begin.
Https://cornishmetals.com/site/assets/files/5681/cusn_2024_notice_of_meeting.pdf
Worth having a careful look through the proposals.
Do we know if talks are ongoing with regards to getting the funding to go forward, or is this going to be a sticking point?
The last presentation I'm sure referred to ongoing engagement.
The money will be out there for an assest like this, it's down to getting the right price.
Is it right that it's going to take somewhere around one hundred million to get to production, or have I got that completely wrong?
$177m is the quoted figure from CUSN
Vultures.....No doubt that tin is hot in 2024 but it will take north of $100 mn to get the mine into production?
So a vulture fund watches the management and investors throwing cash into the mine hoping they will run out of finance in 2025 then steps in and buys the company for a discount?
Surely, before the big outfits threw their money into the project, they would have a good idea where funding would come from.
Valuation-it-is 11 May 2024 18:53 https://www.youtube.com/watch?v=lHX_niYJByc
I did watch the above and am impressed but the $177m finance wasn't really covered. Seams like they're getting the mine as close as possible to operational and hoping the finance will sort itself out. Have the bod given any indication on their ability to get the finance?
Is it possible funding may come from the current big share holders?
Certainly never thought it would be back at these levels…. But that’s mining stocks
Gingy Given VBR and Lansdowne thought it was worth investing at 18p when everything was a lot less certain, when there were less indicated and inferred resources, before the discovery of the wide formation and given VBR have since raised 600m, it seems to me they will scoop up everything they can get in the financing. Even the tin price is higher.
Vii - as always very astute commentary on the situation.
What I can’t understand, is the movement in share price against very small volume. I can’t see the typical pumper/dumpers having any effect on share price. It’s quite mystifying to me why there is such a drag on SP, given the recent positive PEA. Updates on resources estimates + tin price increases should see uplift.
A bold statement from me, but I see this as an opportunity to buy £10 notes for £ coins.
I’m at 1.1M shares so putting my money where my mouth is. An exciting year ahead.
GLA
Pawgee
Pawgee: I see it the same way too.
I might also add for Gingy, that VBR and Lansdowne bought at 18p when we were 4+ years away from production, we are now 2+ years away. The NBV of the PEA in 2017 was US$130.5m with a discount rate after tax of 5%. Now the EA recently published shows a more robust US$201m despite a more demanding 8% after tax discount rate. On top of that the potential for development in other mineral rights areas has increased and the tin and copper prices appear to be on an uptrend rather than a downtrend.
My guess is that VBR and Lansdowne are insiders and cannot buy until the financing. An opportunity, but not without risks, e.g. cost pressures, geological problems, delays, staffing challenges, etc. for the rest of us.
After the PEA report, the share price dropped. It doesn't make sense. No-one's buying. We should be knocking on 15 pence at least.
Don't understand either.
H
I haven't bought back in yet, the falling sp whilst seems a bargain is off putting.
Has the risk reward gone up here??
Anything to do with this?
https://www.cornwalllive.com/news/cornwall-news/south-crofty-mine-bosses-give-9258742