Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Hope all have registered for session on Wednesday......you have until 9am this morning to do so!
East Star Resources Plc (LSE:EST), the Kazakhstan focused copper exploration and resource development company, will host a short presentation and discussion via the Investor Meet Company platform at 11 a.m. BST on Wednesday, 1 May 2024 ("Webcast") following the publication of the Company's maiden JORC Inferred Mineral Resource for the Verkhuba Copper Deposit. A PDF copy of the presentation will be made available on the Company's website at www.eaststarplc.com at or around 7.00 a.m. on 1 May 2024 and a recording of the Webcast will be made available on the website later that day.
Q3, should say.
Ofvtheres one small pre revenue miner where you dont have to worry about dilution, its this one.
Fo by q2 sees to that.
Possibly. It should have moved higher
Massive dilution coming here HappyD. Price stuck at 3p for ages and will probably drift lower - best avoided for a while.
Nice article. All the more reason this will move from JORC, to bid, to mine very quickly.
Bloomberg article: "BHP Mega Bid and $10,000 Copper Expose Mining’s Biggest Problem"
https://www.bloomberg.com/news/articles/2024-04-28/bhp-mega-bid-and-10-000-copper-expose-mining-s-biggest-problem
This stood out: "One key challenge is that new mines take years and often decades to build, and so decisions need to be calculated based on whether copper prices far in the future will justify the investment."
This is where EST are well positioned; the infrastructure they will require already exists, and the deposits they are targetting should be low cost and quickly exploitable. They could be producing by the end of the decade, which is a remarkably short time period for any exploration company.
With all the activity at the top end of the copper business I suspect Alex won't have to wait too long for the right numbers to come to the table.
John meyer on copper
https://www.youtube.com/watch?v=MV9_8K494rY
Suspense is killing me.
Please do list as I’m always up for uncovering diamonds in the rough. Although I’m going to hazard a guess those peers will end up the lifestyle businesses junk of AIM.
Which peers?
I don't think any junior miner on AIM is being valued at 'true value' ATM on AIM. There are many that are undervalued according to metrics of the recent past. At a fully diluted 9m at current price EST is already 'q bit rich'/commanding a premium when compared to peers
EST has tweeted out a link to this article from last week:
https://www.mining.com/porphyries-deposits-holding-the-winning-trifecta-with-copper-gold-silver/
Whilst the article suggests secondary metals of gold and silver they also sometimes contain economically recoverable amount of molybdenum, rhenium, tungsten, lead and zinc. Secondary metals can significantly enhance the economics of low grade resources.
But, identifying where in the deposit those resources are takes time (and money) and does metallurgical testwork so this will take years (but not decades as some deposits would).
I don't think the spread is an issue given the recent interest. Yesterday was one of our lowest volume days of recent and the live spread was around 4%. I agree RE:timelines on a deal. Things can be extended so always a possibility. Fundamentally though, we are no way near true value based upon a JORC inferred resource of 20.3mt @ 1.57% copper. Will post something later on a company that is a couple years ahead of us but has a similar resource.
I think the significance of BHP's bid for AAL to EST has been missed by the market. BHP are clearly looking to find Copper assets before one of the other majors snap them up. It is early days, but the Snowy tenement has an 18 sq kn silica lithocap which is indicative of a large porphyry copper deposit.
These deposits do not need to be high grade to be economical... And BHP have very deep pockets to dip into if the exploration results warrant further significant investment.
Good point, so a clean single asset is preferable
Most mid/large producers do not want the hassle of dealing with non-core licenses for a host of reasons. Risks of litigation due to issues unrelated to the asset of interest, added exploration budgeting towards non-core interests (prev. signed binding agreements), non-core metals (bring up ESG issues) etc.. They don't have time deal with that cr*p. I think it will be a clean transaction solely for Verkhuba.
They wont be triggered at this price but a level or two up at least which when taking spreads etc into account would mean selling would be at these levels/a level up meaning that anyone buying now or above would have to content with a fair bit of selling at their spread loss/be level before they would see profit. Take into account the risk of a deal not concluding/being delayed to announced timelines (which is common in AIM) which would cause SP drift makes it a highly questionable endeavour to buy in now.
If you rerun the pit optimisation analysis on the open pit part only with the new data in the JORC, the haircut between NPV and current value has got even wider, no wonder buyers/partners are circling. To get a clearer picture, you'd have to be in the data room.
Nice work by the CEO and pathway to i) permitting and production can be set out and/or ii) additional drilling to move to indicated. Those would reduce the haircut and have a rather nice sp impact (all my calcs are for fully diluted). Easy hold at this stage.
You then think, wouldn't it be easier for a buyer to bid for the whole of EST? I'm only half joking, if a bidder called him and gave him an informal bid number, think of the sp level needed to even carry on that conversation
Nice to see some massive potential M&A in the sector. Things are hotting up
Mistake there, it's a presentation to share holders which is even better
East Star Resources Plc (LSE:EST), the Kazakhstan focused copper exploration and resource development company, will host
a short presentation and discussion via the Investor Meet Company platform at 11 a.m. BST on Wednesday, 1 May 2024
("Webcast") following the publication of the Company's maiden JORC Inferred Mineral Resource for the Verkhuba Copper
Deposit. A PDF copy of the presentation will be made available on the Company's website at www.eaststarplc.com at or
around 7.00 a.m. on 1 May 2024 and a recording of the Webcast will be made available on the website later that day.
The presentation is open to all existing and potential shareholders. Questions can be submitted pre‐event via your Investor
Meet Company dashboard up until 9 a.m. on 30 April 2024, or at any time during the live presentation.
Investors can sign up to Investor Meet Company for free and add East Star Resources Plc in order to attend the Webcast
via: https://www.investormeetcompany.com/east‐star‐resources‐plc/register‐investor.
No material new financial or other information will be provided.
East Star Resources Plc
Alex Walker, Chief Executive Officer
Tel: +44 (0)20 7390 0234 (via Vigo Consulting)
SI Capital (Corporate Broker)
Nick Emerson
Tel: +44 (0)1483 413 500
Peterhouse Capital Limited (Corporate Broker)
Peter Greensmith
Tel: +44 (0) 20 7469 0930
Vigo Consulting (Investor Relations)
Ben Simons / Peter Jacob
Tel: +44 (0)20 7390 0234
About East Star Resources Plc
East Star Resources is focused on copper exploration and resource development. With eight licences covering >1,000 km²
in three mineral rich districts of Kazakhstan, East Star is undertaking an intensive exploration programme, applying
modern geophysics to discover minerals in levels that were not previously explored.
Hi All,
Link directly here or go to their website https://otp.tools.investis.com/Utilities/PDFDownload.aspx?Newsid=1812976
You think 3p warrants are goingto be triggered at this price, let alone those warrants above? Brotha, I need whatever pills you're taking!
In the great scheme of things it’ll mean nothing. This is a genuine investment case for a junior miner unlike so much junk on AIM.
The Verkuba deal will be closed in June or possibly sooner, and if you’re looking for liquidity I’ve no doubt that announcement will provide it.
Furthermore, who’s to say shares will be sold into the market at this early stage with so much on offer. All
Imo.