George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Nice rise again brewing today - long term I still have faith in fundamentals despite oft mentioned fud attempts here. Short term,
There is a big gap on the chet to fill between 10.3 and 11.4 - I think we will end the week in that range even without news and optimistically close the gap at 11.4.
Some news on capacity reached or new deals can only aid the view though
NtD
Interesting to see the reports of China’s economy rebounding faster than anticipated. Leon mentioned last month that new orders for cobalt were coming in from China and the price was increasing, looks like PGM’s starting to follow as well. Copper still around US$9,000 / tonne. We are even exposed to the rise in gold price! Admittedly its a very small part of the PGM basket but it all counts :-)
Gap up above 50ma is interesting though, especially as SLP price is currently doing naff all
don't you mean a box ct
Bushy
. You coming across as very patronising. It must be lonely for you, has everyone filtered you on all boards
It:s cute when they get excited but did anyone check what what the 50 day MA is or what the trading volume is?
As a long suffering RMM investor I pray the only way of up from here …
It might be the PGM increase was the trigger for people looking to buy in, it’s been ticking up for a few days but then suddenly took off! Anyway glad to see it moving the right way again.
Or was it almost 10%!
Almost 14% rise today and no comments. Wondering when the temporary pump and dump crowd will get on here.
Hopefully the start of a solid recovery.
Good luck all.
PGMs are up along with other metals , but the large rise here is JLP specific . The likes of SLP are up only marginally .
https://www.economies.com/commodities/palladium-news/palladium-rallies-3.5-on-global-demand-prospects-42360
Palladium seems to be the main driver today but platinum is also trending up and rhodium seems to have bottomed out.
Seis,
The ticking isn't even that slowly now!
Best wishes,
Prof
Seller seems to have disappeared:)
It looks like the PGM basket is starting to trend back upwards and the share price is reflecting that… slowly ticking up.
Higgins, other favourites are "game changing" , "advance talks", "breakthrough ".
We have yet to experience any of these and market is getting tired of all talk no action.
I'm still hopeful but not to much longer. Personally I need to see results (to the above mentioned words by Leon) by June or I'm out.
Not sure why we haven't had an update as to whether we reached nameplate as it's been almost 2 months when we were at 80%..
Ref. Kitco.com 11/4/2023
Amerigo is an innovative copper producer in Chile, closely allied to Codelco the world's largest copper producer.
Amerigo recovers copper and molybdenum metals as concentrates from historic and current waste tailings generated by the El Teniente mine, the world's largest underground copper mine. Amerigo does not have a refinery, with concentrate sold to third party to recover copper and small amounts of molybdenum present. The situation is very similar to Inyoni , where historic and current PGM tails are fed into the plant; with the final PGM concentrate sold to a third party to recover the PGMs present.
Amerigo announces quarterly production in lbs of copper and molybdenum recovered. For Q1 2023 Amerigo recovered 16.5 M lbs copper together with 0.3 M lbs Molybdenum. Molybdenum is vastly more valuable than cobalt , thus even when recovering only a small amount, this goes a long way to keeping costs down.
For Q1 2023 Amerigo had a cash cost of $1.91 per lb copper recovered, and received $4.02 per lb copper sold. Also during Q1 Amerigo increased cash on hand by $6m to $44m. Now my maths could be totally wrong but I think 16.5 M lbs is equivalent to 8.25 kT copper or 33 kT copper per year. But 33 kT copper cathode is JLP's immediate copper output per year , once Mopani and Sable are combined. Hence I view the objective size, operational methodology and metals recovered as to a degree similar for both companies.
But JLP produces no quarterly reports, with LC stating once operations mature the company will publish quarterly reports. Certainly the PGM operations in SA are mature enough to publish quarterly reports. And as the copper operations in Zambia mature so quarterly reports must be produced, ultimately arriving at cost to recover 1 kg Copper. JLP must align its quarterly reports with companies such as Amerigo, thus giving the market a simple, clear, ongoing view of its progress and achievements.
Be a little patient. Management is probably busy with a deal and they don' t want the share price to ramp up at present until the deal is completed. That is the reason for the blackout. I forecast that you will only see some action in the SP by June/July.
How long does it take to agree on quarterly reporting Leon?
It is transformational to be fair... It was a profitable pgm producer and now it's transformed into a loss making copper research facility
Leon Coetzer needs to pull finger now. He talks to much and makes to many promises. He also enjoys using the word transformational. I thought Leon would have learnt his lesson after he used the word "imminent'' may years ago.
I suspect many shareholders are as confused as I was over the expected timeline for Roan, so I have gone through the RNS and the presentations to try and get a clearer picture. This is what I got:
From the RNS:
“The final phase of the Roan project ramp-up is scheduled for early April 2023 to complete the commercialisation of the Southern Copper Refining project expected during May 2023. Upon reaching commercial production, the Roan copper concentrator is expected to contribute 550 tonnes of copper per month to the production of Sable Refinery with a further 130 tonnes per month of copper from third party supplies.”
Commercialisation is when the budgeted throughput of copper (550 Tonnes / month) is reached. This isn’t the same as reaching name-plate capacity.
From the presentation:
Roan expected to reach 800+ Tonnes / month capacity “post the current period”
“We have a conservative number on Roan’s production profile to allow for some downtime during the upgrade.”
Upgrade of front end expected to be done within an 8 week period once it commences.
So what we might expect to hear next, during May, is that we have reached commercialisation. Because of the upgrade to the front end (an 8 week period approximately) there will be some reduction in capacity. I guess that’s why they are not expecting to reach full capacity during the current period. Leon said that there is some downtime already built in to the numbers.
Other upcoming items:
Waiting on the tax issue with previous refinery owner to be resolved. HH has committed to get this resolved during April. If that happens we should conclude and announce the deal soon after.
Speculation on my part but I believe the Mufulira S l a g project will be announced once the refinery acquisition has been completed. Obviously Leon can’t include this in any forecast until we have been officially awarded it but that would certainly have a big impact on future numbers.
Awaiting permitting to commence the construction of a new chrome plant on the Eastern Limb. Long lead items already ordered and ready to get going ASAP.
They should provide confirmation that they are back to 100% production soon and then. It should rocket back to the teens. Slater says it like trying to keep a beach ball underwater - eventually sooner or later it’s going to Jump up again above the water…
EM currencies set to rally against a softening dollar, when your head count is rising and your production profile is falling then the problem is extrapolated exponentially the larger your workforce.
Tom Winifred ....???