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Tom Stevenson’s regular column in the Telegraph today suggesting copper price is winding up for strong growth over the coming years as a result of supply shortages v increasing demand. Witness also BHP going for Anglo American. All suggests Ecora is in the right place and patience will be rewarded.
Another company hobbled by the green madness it would appear.
Unfortunately if you strip out Kestrel then this looks absolutely dire. BHP putting West Musgrave development on hold makes it more imperative than ever that ECOR spend some money to fill the gap when Kestrel runs off in the next 12-18 months.
117% up comparing to last year. Hopefully will tick up today.
Bought at 71p,sold at 81p money in HEX now.
No link to HZM.
Years ago, APF/ECOR did have an option to purchase an NSR on Araguaia, but we let that option expire.
Does anyone know if we had any intrest in Horizonte Minerals, was this the reason for the big drop yesterday.
Good that the bod think 85.90p still significantly undervalues the company. Defo holding for now.
Usual caveats
Trek
PC I get what you are saying and would have preferred acquisition and divi held but the CEO is pretty adamant that there is no better investment out there than buying ECOR atm.
Ok but it’s only 5% of stock so not that big a deal.
At least they are taking big lumps out in one go so affording an exit for sellers. That alone should help with the SP but a good set of Q1 numbers is what is really needed and a line of sight to the 100m revs, then all will be forgiven!
Usual caveats
Trek
Mgmt clearly have little to do here. Using shareholder money for buybacks will not hold the price up forever. It's worrying that they can't find any NAV accretive deals to do when the junior to mid cap mining market is literally crying out for capital. The "investment team" haven't generated one organic royalty idea as far as I can see. Very poor from what could be a fantastic platform to build value.
Gonna see 100p soon.
The market likes the cut in divi and moving to bi-annual. I don’t. It’s not what this investment pot is for.
I will likely be selling and moving for income. But for now there is no point as it will imo hit 100p.
Next TU should be so much better. Caml had a pretty ordinary set of results and imo a shty investment yet the market has just moved it up on the copper price.
This one will follow soon enough, an 80p close sets the momentum. Folk may start to average down then confident the worm has turned.
Usual caveats
Trek
Might see 80p today?
2 x £160k buys, 2x 200k shares at 80p.
There have been other 200k buys as well.
Should be hinting at something!
This one is lagging peers atm.
Usual caveats
Trek
Cannacord Buy rating 165p that would be nice.
IC tipped…Mar 27
“ Even with a lower payout, Ecora remains good value at this price. Buy. ”
https://www.investorschronicle.co.uk/news/2024/03/27/ecora-resources-cuts-dividend-in-growth-push/
Trek
Prescient…. “ should climb to 76p soon”
76p close! lol!
Trek
looks like market has voted the bottom is in. should climb to 76p soon. that’s the last significant director buy.
cobalt, yep but like i said it’s not looking back it’s looking forward and a cagr of around 9% is pencilled in. uranium outlook is positive esp us and copper is at last toying with 4.
plus buying back nearly 5% of one’s own stock and chance of more to come looks good for the sp.
as for income i am not that impressed but the uk seems to be full of high yield and it hasn’t done the sp’s much good. most yield coming from low share prices and not much m&a follow through.
buy backs are the sensible long game esp for ecor which is on its **** against an improving outlook. even if rates hang on a bit longer at least they are now digging in the right spot!
usual caveats
trek
Cobalt is buggered. They overpaid at precisely the wrong time
Hi Latius,
I have just been lucky here selling out way over 100p and averaging back in at just under 76p. These stocks are cyclical and when the macro changes you have to sell out.
I think now is near the bottom but that said I have no idea how the market will react today. It was a sht year last year results wise but there are much much better days ahead. My twopence worth has this clawing its way back to 100p.
However, as I am in need of income I will probably sell along the way and look for a more stable divi income.
Good luck,
Usual caveats
Trek
Looking forward they are proposing a new divi policy based on fcf 25-35%. + buy back.
Now that would actually mean a divi reduction. From…
“ Final dividend proposed of 2.125c per share, bringing the total dividend for the year to 8.5c per share ($22m), as per guidance”
To
“ Based on research analyst consensus commodity price forecasts and operator production volume guidance from Ecora's operating partners, the mid-point of the new dividend payout ratio would see total FY 2024 dividend of approximately 4.0c per share.”
Seems a bit odd as the numbers don’t meet the sentiment. I would rather have the divi.
Usual caveats
Trek
I hope market will react as entiusiastic as You Trek :).
Im down on thisone terribly.
In line as expected.
Divi held and 10m buy back! Now the divi being held was one for us optimists but a 10m buy back now that wasn’t expected!
It’s great for the SP as it says there is no better home for the money but tbh I would rather it was invested in another royalty.
Usual caveats
Trek
Sold PXC and invested in here,much more promise i hope.
Good move Latius,
Ride yer winners mate.
This is gonna bounce as it didn’t like 69p. Chart will kick up now even without news. I added a few below 72p.
Will stick now. Not too many here not too few and a change in the commo outlook or rate cut could see this go to 100p imo.
CEO will be right eventually! lol!
Usual caveats
Trek
Trek , Um trading Uranium Energy corp regurally now. U can buy around 6.20-6.30 and sell it next day 7$. Not big gambling from my side with 500-600 shares gives me 150-200 bucks. And its safe. If something will go wrong its trendy stock now :) sooner or later price of uranium will go up