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I'm the same. The only issue I can see is that outside HL is outside tax wrapper for me, which I will have to accept. Not end of world, Atlantic/ ALL remain wrapped.
Think i will build up my position in irr an get more shares in ricca in 1/8 conversion
An take my ricca shares in a certificate to a boker that deals in asx shares
Delete 'shoes' predictive text where did that come from :)
You see I've read the numbers, and the run numbers, many times. Opex, capex, spod prices. One doesn't need to dig very deep to see that the current SP is inexplicable.
It must change eventually, has to. And spod prices are still rising.
One entity that have run the numbers, is PLL. Their last almost casual purchase at 25p, they absolutely know what they have here, and I wouldn't mind being a pound behind Keith Philip's and co. over the next few years shoes. Build it, mine it, sell it. The whole value chain is aligned.
Based on current SC6 Prices, the annual output of 295,000 tonnes it would generate $779 million dollars (£569 million Pounds) per annum. cash operating costs of US$247 per tonne of 6% lithium spodumene concentrate Free on Board ("FOB") Ghana Port. Now wait till it expands to 10 years then 12 and so on and its a no brainer for a takeover. Now that the demerger metrics have been announced and with a rich vein of news coming, There will be many numbers being pressed on both sides of the Atlantic.
Yet more positive li metrics abound. How long can the SP disconnect last here.
As an aside PLL probably care little about the SP, they just need the mine built and the 'gear' therein off to the paying customer. Fair play to them it was a great deal; I looked up GGP, pretty inspiring if we can replicate that, and frankly why not, all the ingredients are there, except the resultant SP.
Lithium carbonate prices in China rose to above 190,00 yuan per tonne, the highest on record due to growing demand and tight supply. Prices for the silvery-white metal, which is a key ingredient to power electric vehicles, skyrocketed over the past year, as automakers and battery manufacturers race to secure supplies amid a global push for less-polluting energy sources. According to a new research report from Bank of America's global research department, the global electric vehicle industry faces an imminent threat that its battery supply could run out as early as 2025.
Hi ShearClass, I’m sure that most shareholders are not unduly worried about the future of Atlantic Lithium. I wouldn’t be sat on 500k shares, if I was, although that might be quite modest compared to many shareholders who have been here for up to six years.
However, I do think the potential of Zaranou and the other gold assets have huge potential and I would like to have 125k shares in Ricca Resources, ideally in the same tax wrapper that I currently hold my IRR shares.
Apologies, if that doesn’t sit well with you.
Cheers, Ash
Have a look at GGP when it signed its $65m deal with Newmont in 2019, the share price took 9 months to get above the high on the day of the deal, it then 17 bagged in 9 months…
I had totally watched and absorbed the vid. And I'm well versed with the Li market, the auctions etc etc. And I'm in here and staying. But are we both deluded/ wrong? Because patently the market is unconvinced, and the market is sometimes bent frankly. Time will be the arbiter. No one else. ATB
Swest42, did you watch this video from earlier this week; https://www.youtube.com/watch?v=kgglu5aP6CI
It’s not just VM that thinks IRR is undervalued by a million miles! Right now most shareholders are preoccupied by the spin off & whether they might need to move brokers etc. The new name & an updated scoping study will be a game changer IMO.
Im afraid we will have to wait and see regarding isa sipps . Hopefully more detail will follow once ratified
Hi cdm, that sounds good. Just wondered, however, whether ownership of the shares then sits outside the tax wrapper and whether this actually allowed, if the IRR shares are in a SIPP that is not in drawdown.
My understanding is that an in specie distribution might trigger a CGT liability based on market value, which is fine, if you remain below your annual CGT exemption.
A bit more research on ISA or SIPP transfers has confirmed that it is possible to transfer in specie from the HL platform to another and remain invested (not something that was mentioned yesterday by HL) rather than the shares being sold and the cash transferred. I don’t think I had this option when I transferred from Co-funds to HL because of the funds I was invested in.
Only downside with this type of transfer is a suggestion from AJ Bell that it could take up to 6 weeks so you need to get moving, if you want to do it this way.
Cheers, Ash
See normal service has resumed. Despite Vinces comments about the capital markets not giving IRR fair value, Lithium is a globally traded and recognised commod. PLL are well known in the sector, the demerge is road mapped, I still fail to see why it's so luke warm SP wise. Sit on hands, again.
Great, sounds like the problem is not a problem, I'll be taking all the rights share when the time comes. Seems that II is getting favourable comments in this regard as a platform for ASX.
cdm007 grateful for your advice on this subject which is appreciated thank you.
If your broker won't handle the Ricca shares, all eligible share holders should receive an electronic share certificate which should enable you to take part in the issue and place with a suitable broker when Ricca is listed. Its really not a problem!!
Going today through DGR's quarterly report, you can see that they did divest ~ 3 mio IRR shs during last Q. It would not surprise me when DGR was also behind some sales during October 21. DGR is not cashed up right now, so selling some of their shares might happen again.
On reflection, I'm not moving platforms just for this - it's not worth the hassle. So as things stand, I guess I'll be receiving my 1-for-8 free Ricca shares but missing out on the opportunity (which I would have taken up) to buy the discounted entitlement. It's a shame and puts a bit of a damper on the demerger having held these for several years.
Hi Teddy, I had a response on my questions from Andrew Gill at HL. The only question I didn’t ask was whether this scenario was specific to HL or a general rule on overseas listed companies.
I have also contacted IRR through their website this evening, explaining the situation, and inviting them to comment.
You never know….
Gut feeling is that if switching platforms requires all holdings to be sold so the cash can be transferred and then reinvested, if the timing is wrong, the cost of doing so could outweigh the initial lost profit opportunity.
Every man for himself on this one, I guess….
Cheers, Ash
probably completely wrong on this but presumably as IRR holders on the required date we would be notified of any allocation that we could apply for..as Ricca is going to be unlisted would it not be possible to elect to receive said allocation in certificated form..just a thought
Thanks for coming back. I'm undecided the best option atm, see what unfolds.
Looks good for tomorrow morning. Personally would like a good 10% gain to release the shackles here.
Hi swest, no idea yet how it would work. I assume you have to transfer your whole ISA or SIPP.
When I transferred SIPP funds from Co-funds to HL last year, everything was supposed to be sold at prices within 3 days of the request date, before the cash was transferred. Co-funds tried to tuck me up by using a different date and I had to get help from HL to confirm the date they sent the request. Ended up getting another £4K from Co-funds! I then reinvested the funds in the HL SIPP.
Doesn’t necessarily work in this scenario.
Sorry, if that doesn’t help much.
Cheers, Ash
Are their any concessions between moving a single stock between HL and II like a bed and ISA, or do you have to sell and buy back taking double hit on full spread.