George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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mcap only 5mill
wheres our 20p!
mcap only 5mill currently!!!!!!!
Gati Al-Jebouri, Chief Executive Officer and Chairman of the Board of Pembridge said:
"These financial statements illustrate a major stage in Pembridge's development, showing a profit for the year and positive net assets for the first time since taking its present form as Pembridge Resources plc. During 2021, Minto was listed on the TSXV and successfully raised C$31m of capital. We continue to execute on our four stage strategy set out in 2019 and having achieved financial and operational stability at both Minto and Pembridge we are now moving forward to grow our business.
The success of our investment in Minto means that Pembridge is now able to pursue its 4th stage of our strategy, which is to identify and invest in new projects in the energy transition sphere. Today we can say that our future investments are supported by our balance sheet, which for the first time is showing positive net assets and allowing us to bring significant value to potential partners."
Gati Al-Jebouri, Chief Executive Officer and Chairman of the Board of Pembridge said:
"Minto Metals is entering a new and exciting phase of exploration. In line with the strategy of further developing the Minto asset, great potential to expand Minto's resource exists as there has been no material exploration completed on the property since 2012. Minto continues drilling its 30,000-metre program in 2022, with the current phase of drilling focusing on numerous untested geophysical targets. I look forward to Minto's management announcing further positive results as the exploration program develops."
https://www.mining.com/web/cochilco-raises-2022-copper-price-forecast-to-4-40-lb/
Regarding how much of the Minto value will be reflected in the PERE share price. Look at other energy funds, but I expect no more than 50-75% at most of the NAV. Even some of the large and diversified funds (e.g. Riverstone Energy) trade at a big discount to NAV.
@Ricardo, the Minto revenue should be decent. But that figure is not meaningful unless you take into account the All-In-Sustaining-Cost (AISC) of production. I expect that it's somewhere in the vicinity of $2.50 / pound for copper. You might find a more accurate figure in an RNS or in one of the old broker notes. The vast majority of the revenue is from copper as I think there are streaming agreements on the gold/silver.
https://www.mining.com/goldman-sees-new-all-time-high-for-copper-price-by-mid-year/
Copper will be in big demand
Can this do a MKA? that multi bagged on its rare earths
Thanks Lottohopes, I appreciate your response and also raising that key point about scaling/costs.
Ricardo: your numbers are correct. This is beginning to generate serious cash. The issue was scaling to the point where costs drop. Sadly they haven’t scaled to 4kt yet. The grade has also started improving which tells me they are getting to the better parts of mineralisation. Look at the grades drilled last year at Minto North. Of course we will hear from bears, I don’t care much. I hold and wait.
So I just did some rough calcs and came up with a rediculously large revenue figure. Do these assumptions/figures sound correct?
a) Minto receives:
Copper - $4.78 per pound (spot price)
Gold - $1,235 per oz (65% of spot price)
Silver - $4.35 per oz (lesser of the prevailing market price and US $4.35/oz)
Minto mined:
Copper 9,100,000 pounds
Gold 3,695 oz
Silver 45,126 oz
By multiplying amounts mined by the price paid and dividing by PEREs 11.2% share of Minto I get the crazy figure of: $5,404,853.79 or £4,125,842.59 at today's exchange rate or £16.5m per annum.
Bear in mind that I have not been able to calculate costs. This is just revenue. This seems a lot - so have I got anything wrong or missed anything?
2022 Quarter 1 2022 -QTR 1 2021 -QTR 1 QTR 1Production Results 31-Mar-22 31-Mar-21 % VarianceOre Tonnes Produced 174,432 238,979 +37.0%Ore Tonnes Milled 212,329 237,239 +11.7%Head Grade % 1.83% 1.17%+56.4%Payable Copper (million pounds) 9.10 5.33 +70.7%Gold (ounces) (1) 2,199 3,695 +68.1%Silver (ounces) (1) 22,720 45,126 +98.6%
This will bag tomorrow
Whitehorse, Yukon, April 6th, 2022 (CNW) – Minto Metals Corp. (“Minto” or the “Company”)
is pleased to announce the Company’s first quarter (“Quarter 1, 2022”) production results
from the Minto Mine located within the Selkirk First Nation’s Territory in the central Yukon,
Canada. Payable copper production in Quarter 1, 2022 increased 70.7% over Quarter 1, 2021
for a record 9.1 million pounds.
First Quarter Highlights:
? Copper payable sales increased 70.7% to 9.1 million pounds compared to 5.3 million
pounds in Quarter 1, 2021.
? Improved operating results for Quarter 1, 2022:
? Ore tonnes produced was 238,979 dry metric tonnes (dmt), a 37.0% increase
from the 174,432 dry metric tonnes (dmt) produced in Quarter 1, 2021.
? Mill Feed was 237,239 dry metric tonnes (dmt), an 11.7% increase from the
212,329 dry metric tonnes (dmt) processed in Quarter 1, 2021.
? Overall Head Grade was significantly higher at 1.8% Copper when compared to
the 1.2% Copper realized in Quarter 1, 2021.
late rns
https://www.mining.com/miners-need-to-invest-over-100bn-to-meet-copper-demand/
https://www.mining.com/miners-need-to-invest-over-100bn-to-meet-copper-demand/
https://www.mining.com/miners-need-to-invest-over-100bn-to-meet-copper-demand/
i like it when the ramp it up (production)
Gati Al-Jebouri, Chief Executive Officer and Chairman of the Board of Pembridge said:
"We are very pleased to have received this second instalment of CAD 500,000 from Minto. These funds, coupled with the remaining expected CAD 3 million to be received before the year end, ensure the Company is in a position to meet all of its expenses for the foreseeable future as well as assist in funding Pembridge's new investments.
Pembridge's investment into Vulcan is the first time the Company has looked to expand its asset base beyond Minto. Whilst this particular investment is small, we believe the opportunity to invest in Vulcan at the current valuation, with a JORC resource of circa 600,000 tonnes of contained copper with additional resource upside, has the potential to offer sizeable returns to Pembridge. With expected further cashflows from Minto's production, beyond the CAD 4 million surety account repayments, Pembridge is continuing to review other projects where it is envisaged it will take a more material stake, either at the asset level or in the operator. Updates will be provided as appropriate.
https://www.mining.com/copper-price-rises-on-peru-supply-disruption-worries/
Copper will be needed for EVs