The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
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Presentation from KF to the OTC markets from a few days ago
https://www.youtube.com/live/jz-DnhjqPvY?feature=share
Hold and add. Directors were buying and fundamentals are solid.
Well, I've added here a couple of times over the last two days. Well into my buy zone now. Crazy that we're just 10-15% off 'end of the world' COVID lows of 2020.
By far the cheapest royalty and streamer on the market.
Heading for Poundland again.......?
Not sure whether to hold or not - any views?
Surprisingly quiet here today.
Thought today's update was decent enough. Still heavily skewed towards Kestrel, but the development pipeline is where the excitement is for ECOR. Santo Domingo, Piaui and West Musgrave all rapidly heading towards production. Still, would like to see a pick up in dealflow in the near term and build some momentum.
Investors Chronicle have tipped Ecora as a buy today.
Natural for a royalty and streamer to buy assets using debt, and pay down that debt from cashflow. Just have to look at how the big PM streamers execute large scale deals. Most important thing is the deals themselves are accretive
Like this company and what it does.
Apart from minor things like name changes the only thing I hope it does is that it doesn't load up on debt again. That way if you're a small company you can still ride out the commodity cycle and no need for distressed sales etc.
I'm glad someone asked the question regarding Narrabri, there is still a significant sum of money apparently due here, though not mentioned at all by the company since the actual divestment(don't say the 'c' word).
I agree that from late 2025 onwards things could be looking quite good. More concerned as to how q2/q3 and beyond may look with possibly little from kestrel. I would say there is very little chance of any rise in dividend at the moment(debt predicted to rise through the year). The first quarter should be pretty solid given met coal prices, but cobalt prices are not where we would wish.
One solution to the 'gap' would be if the company could find a sizeable producing royalty but with limited years of life remaining(hence cheapish). This might be able to act as a bridge to some of the copper assets producing. They have been very lucky with the windfall last year from in particular kestrel, allowing them to reduce debt so meaningfully, but this can't be counted on going forward.
No news here, but then I'm kicking myself for not doubling down @116p
Excellent professional interview with Marc and very optimistic about the future especially moving away from the legacy coal royalties into copper, cobalt, nickel, vanadium, uranium. Very confident especially since the dividend is covered 4 times and debt has been reduced substantially.
I added today. I think we saw the bottom at 112 now. I was worried of a sept 2020 100p revisit on TA but imo this is now going back to 140’s underpinned by results.
I also think the divi will go up once they clear more debt.
The directors would have likely bought on the deleveraging glidepath.
Best of all though royalty models are pretty much inflation agnostic as the producers bear the costs.
Usual caveats
Trek
According to DividendMax it is 12th May 2023.
not yet confirmed , or nothing on dividend data web site
Can anyone see the final 1.75p dividend payment date - I am expecting end of May but couldn't see it in the RNS. Thanks
Trek.....very happy to buy in my ISA in 2023/2024 Tax Year if it holds at around 125p. I like quarterly divis such as this and BP.
China is really just opening up again on the manufacturing and infrastructure spend so I am very optimistic about copper, nickel and cobalt.
Market like it.
Strong set of numbers. Cobalt pricing has come down which I guess we knew would. Copper looking very good though.
Importantly they have significantly reduced leverage from 90 to 36m!
Divi still 7p. Was hoping for more but I think that will come soon but it’s still a sector leader!
Lots of growth opportunities in the pipelines and exposure to a good range of metals including uranium!
Potential to grow from revs in future facing metals from 33m to over 100m. Miners always very optimistic but seldom have a glidepath plan for their statements! Lol!
Still very happy to add here on this pullback. There aren’t many quarterly income plays in this space with such a range of metals exposures.
All buys now are also below recent director buys!
Usual caveats
Trek
Got 3 buys in at a tad over 114. Gives me over 6% yield which is key!
Every now and again you find a share that you can time well usually by luck. This seems to be one for me!
Usual caveats
Trek
I think you have summed it up really well Cacher and I recall your reservations at the time of the appointment. I too would be investing further if JT was still there but jury is definitely out right now. As you say credibility suffers when all your hear is a deal is imminent but then month in month you hear nothing. Given all the money they have made over the last few years and investments made, I perhaps naively never thought we would hit these lows again. Just hit 114 I see. VERY disappointing
I think that's a major aspect Sam. I wasn't convinced of the CEO appointment, and since JT left he's done very little to change my mind. Had JT still been at the helm I'd likely be adding plenty at this valuation, but unfortunately that isn't the case and I've held off. The occasional interview telling us what we want to hear isn't going to cut it. What investors really want to know is how the income gap between Kestrel running off and commencement of full ops at Piaui/West Musgrave/Santo Domingo will be filled. Where's the dealflow we were assured was coming? I appreciate not every deal meets the criteria or gets over the line, but MBL has said many times that the next deal is close.
Currently, the perception is that the board don't give a damn about the falling share price. The occasional director buy generally ignored. I see little in the way of proper PR - especially in the US and Canada to a market that's well versed in the royalty and streaming business.
David, thank you for the offer. The share price fall is obviously concerning. Director buys have helped give confidence. I think a number of share holders are awaiting the new CEOs first deal to see that momentum is still there post Julian.
Any thoughts (constructive) on the Company?
Any aspects of the business that maybe needs expanding on? Being made clearer??
Please e-mail me any subjects. They will all be sent onto the BOD. they do not have to be positive but please be respectful and maybe offer a solution to any potential problem?
Please e-mail David Burton : david burton.tms@gmail.com
6% div and great reports; thanks, I'll take conservative.