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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
“ The market is projected to grow at a CAGR of 8.90% between 2024 and 2032.”
https://www.expertmarketresearch.com/reports/cobalt-market
Trek
I thought cobalt was currently at an all time low and not expected to recover during 2024 ?
I followed the director here.
I had sp drop down to metals prices. But now copper has lifted copper producers, cobalt has bottomed with a more bullish outlook and uranium stocks are doing ok. What’s the score with this.
So next lot of results will be more on EcOR licences. Market needs numbers to be convinced I guess. That should then lift the sp….??
Usual caveats
Trek
I agree with you fully. CEO and directors asleep whilst this now plays out and appear helpless. Up till now I have reinvested dividends but no longer. Will take the cash. Also will reduce when possible but big loss at present. For much of the year a wall of silence from the company and of course no investments
This is either a massive bargain or something's going on we don't know about.
They went woke and went broke - shifting to full green metals, intl women's day showing how many women directors they have.
Yeah great, but the share price has gone nowhere in 20 years.
Only thing keeping me in (down 40%) is the director buys.
I feel your pain Baldchap. With 8.5k shares only and 109pi average well down here. Maybe not many shares but it takes 18% of my portfolio so is a bit of pain.
Need just wait here for miracle.
Looks good on paper, but I am starting to regret not getting out when they started their focus on 'green' metals.
Coal still has a good way to go, only the foolish West are ditching it.
Cobalt and Nickel prices are well down due to new Chinese owned mines in Africa and Indonesia.
Their mines won't be hobbled by ethical and green demands of the civilised world either
With 60k shares I say this with a heavy heart.
IDK cobalt looks to be in a pretty long bear market, coal assets gone and nickel oversupply may pause start of other mines. Pretty fairly price IMO, what if management had just dividend out the coal profits.Agency problem...
The underlying assets appear to be discounted by something like half and that based on depressed commodity prices. Patience will pay off with this little gem and in the meantime steadily accumulate shares with an attractive dividend.
Fingers crossed but the dividend looks fairly secure and the future revenue streams look pretty solid. At some point over the next year or so they will start to contribute . Given the underinvestment by miners generally over the last ten years or so and the lead time to deliver new mining projects the moment the world economy shows a glimmer of growth commodity prices will rise and Ecora will prosper,.
Hi Trek, welcome back. I agree in seeing this at the low. But have too many already. Wish I had sold on the high !
I’ve come back in now first lot at 76p doh! But when I bought k was trying to time below 80p! Will wait a tad before getting next lot.
Next results include more of our royalty area so should give a lift.
I am hoping the divi will be held. I guess that even with director buying there is no guarantee but I think his last load up indicates this is as near the bottom as possible. I did prefer pence though!
Commos should pick up soon.
Good luck all
Usual caveats
Trek
The timing of hitting these lows is a little urprising, as the current quarter may end up being 'all right' imo. I added a few.
But the market doesn't like the fact here that there is a couple of years to wait.. I'm not sure what income streams you are referring to coming online in 2024?
The big problem is obviously the fact kestrel is winding down on spraying the cash it has over the last decade or so and they've not really got anything high calibre enough to replace it. The copper stuff looks decent, but it ain't happening tomorrow.. or the day after.
Hopefully, they'll come out and surprise us all by explaining where the remaining outstanding funds from the divestment of the Narrabri royalty are!! In the context of getting through the next 18 months the sums of money that are 'unexplainedly' missing, would certainly be helpful.
I may have made the mistake of falling in love with this share but if we look at Simply Wall St they say we’re in good hands, once commodity prices start going up and we’re in profit about mid-2024.
Trading at 78% below our estimate of its fair value
Earnings are forecast to grow 42% per year
Analysts are in good agreement that stock price will rise by approx 120%
Dividend of 9%.
sam, i agree with you that this is getting very grim, especially with a 41% loss today. i’ve been buying these since may 2017 when buzz used to quote the price of coal and tell us all about the advantages of apf.
gino, i’ve somehow missed the rns but i’m like you and like my bananas yellow to black ready to eat now. how i wish i had sold when they were green at 140 and rebought in the 70’s
however, sam, the bod is putting their money where their mouth is.
announced action notifier price amount
26-feb-24 buy marc bishop lafleche 76.70 65,005
26-feb-24 buy marc bishop lafleche 76.40 31,430
26-feb-24 buy marc bishop lafleche 76.50 32,665
20-dec-23 buy marc bishop lafleche 89.01 57,900
04-oct-23 buy varda shine 99.49 10,001
02-oct-23 buy marc bishop lafleche 105.76 10,000
11-sep-23 buy kevin ***** 106.80 4,700
11-sep-23 buy marc bishop lafleche 107.61 12,000
03-aug-23 buy kevin ***** 113.60 1,090
03-aug-23 buy kevin ***** 112.87 1,150
03-aug-23 buy marc bishop lafleche 112.54 7,500
03-aug-23 buy marc bishop lafleche 113.00 12,500
03-aug-23 buy patrick meier 114.55 9,900
02-jun-23 buy kevin ***** 111.67 43,614
02-jun-23 buy marc bishop lafleche 111.79 30,122
03-apr-23 buy graeme dacomb 122.14 15,937
03-apr-23 buy marc bishop lafleche 124.26 70,000
gla
129000 shares bought by CEO
£100k of his net salary is not insubstantial, he also expects a return
indicative
"What we can look forward to is income streams coming online within 2024."
let it play
Nice!!
So there you have it. Always felt that this is a long term hold but the RNS suggests it's best to hang on until at least February 2029!
I don't buy green bananas for heaven's sake!
I have researched on the BoD pay package a few years ago. It was not exhorbitant.
Share buy backs isn't advised now because they are in a period of low profitability, even with the loan facility extended. They also intend to maintain minimum dividend of 7p a year. What we can look forward to is income streams coming online within 2024.
Low share price is because the market is pricing in the risk of a prolonged period of low profitability, which I think is fair. The BoD does not rush into investment decisions and are generally conservative. Those who are willing to take on these risks will reap a great reward of 8.75% yield at current share price of 80p.
Ecora's needs USD$22m a year to breakeven, including pricing in dividend payouts. Marc's income forecast for 2024 is either same as 2023 or more. Nothing to worry about for now, but future potential is not priced into the current share price. Patience and faith in the BoD is needed.
DYOR
This is getting grim . Huge fall and complete silence from company . No director buys , no share buy backs and of course no acquisitions. The only thing is the small number of directors and employees taking their sizeable salaries . Not impressed at the moment one little bit ! Get a grip ceo and directors !!!!
Https://www.proactiveinvestors.co.uk/companies/news/1040747/ecora-resources-royalty-over-san-domingo-franked-by-fund-raise-broker-1040747.html
"We see the 2% royalty Ecora holds on the Santo Domingo project as the most significant copper royalty within the portfolio,” added Peel Hunt.
“At current copper prices, our estimates suggest that this royalty could generate over US$16m in income for Ecora, placing it as one of the group's more important income streams.
“On an unrisked basis, our DCF valuation of the project surpasses 35p/share, a significant amount, particularly when compared to Ecora's current share price of 85p.”
Buy with a target of 190p, is the broker’s investment view.
Sounds good. Lets hope for a steady rise into 120+
The commodities chart (GNX) versus the S&P is very similar to ECORA and the S&P. After an initial failure a month or two back it looks as if ECOR has broken out but is still testing support. Furthermore, there's arguably a triple bottom, too. I think the rise over the next year or so may well surprise to the upside. The commodities sector looks as if it has bottomed and is tentively gaining strength as it is moving up.