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Let's just hope we're not watching it from the sidelines in a couple of years because PXC still haven't sorted the finance for it!!! ATB
Oh my copper-gold-silver prices this morning :)
i know not a producer yet, this only increases value of assets in the ground and copper bond financing yet to be closed, firmly placing the brakes on the SP
have a nice weekend all
DYOR and GLA
"Let's just hope we're not watching it from the sidelines in a couple of years because PXC still haven't sorted the finance for it!!"
Exactly. How frustrating would that be.
80% chance IMHO it will go as planned.
I would be disappointed and surprised if this did nt hit a £1 within (not by) next 2 years. 40p not so long ago
We'll see
Lets just take in what we are investing in. To begin with, A STARTER mine with resources worth circa $1.8bn mined over 5-7 years. Plus all the other resource including what we think is a stonking Porphyry somewhere at depth. Cash generation will be amazing and there could be dividends. They will get the cash from somewhere the resource is too big and proven to just sit there.
Yes Indeed MTSparky,
I suspect they kept the SP range bound this month( to an extent) for the Bed and Breakfast/ ISAs etc.
.....with a little bit of steady buying from now we could be well on our way to 14p+
And of course on positive news??? maybe an RNS in the pipeline.....seems to get a bit of buying in advance......and the subsequent sell off.....shows me that perhaps the knowledge of an RNS coming...but not the content....only the author/s know the content!
I would like to see $25m Bond Completion followed by PFS and more "used" equipment purchases and before the end of May 2024....would restore confidence and enthusiasm....and SP to ??? is 60p too much to expect by 30th June 2024??
GLA
On your dividend point - I recall form previous investor presentation RW saying that he hoped the fist dividend to be payable to shareholders would be the repayment on the loan to Konnex which has built up over time.
It is a few years ago now, but the outstanding loan amount is roughly x2 the current market capitalisation of the company - so buyers at current levels could well see an initial yield of 200% on their investment within a few years...with ongoing and subsequent dividends from production free cash flow being a significant percentage as well!
Gold and copper price makes this very attractive to many and especially for the bond. Get thar rns and pxc rockets
Agree - effective coupon for the bonds with copper ot $4.30 is 9.55% !
Bond news and we hi the top risers - will be NT all the way
stock really tight here
The ducks are really lining up for us, PM’s are on fire. PFS based on current prices will look amazing.
Citi Research on #copper: Funds have driven #copper up to ~$9,500/t (+~20% since late November), on early signs of global reflation and in anticipation of physical deficits. Pure-play #copper equities, which are even more forward-looking, have moved up to a price of $10.5k-12.5k/t #copper into perpetuity, suggesting that there is further room for forward-looking investors to take the commodity price higher. Indeed, pure-play equity-implied #copper prices are consistent with our view that we have entered the second secular #copper bull market this century. Likely LME withdrawals of Russian metal and modest deficits should support prices around current levels over the next 3 months. We still see a path up to $15k/t by 2026 in our bull-case scenario.
BofA on #copper: The decline in #copper treatment and refining charges has been much discussed during #Copper Week in Santiago. That tightening in terms has been driven by a confluence of factors, including 1) low mine supply growth, which has been exacerbated by supply disruptions and 2) investment in smelting capacity especially in China. Picking up on the last point, smelter capacity utilization rates have been declining steadily.
Commenting on that, Aurubis’ CEO Roland Harings said that China’s smelters “are taking concentrates in at levels where you cannot make profits."
Goldman's paper called 'copper is the new oil' is one of the most well-read research papers of the decade. The thesis is well known as copper grades are declining and there have been zero new projects approved this decade. In addition, the green transition (plus possibly AI) will require large amounts of copper and there's a setup for a structural deficit that will be very hard to solve without much higher prices.
That most had 2025 or 2026 ciricled as the year that deficit started to bite, in part due to the startup of the QB2 mega-project in Chile late last year. However at the same time, Panama also closed a mine that supplied around 1.7% of global output. That appears to have moved up some timelines, depending on who you ask.
As for Goldman, the same analysts with the 'copper is the new oil' moniker dropped another great line today saying, prices are only in “the foothills of what will be its Everest."
That was in Santiago where the copper world is meeting this week at the annual Cesco Week symposium. Prices are currently at a 22-week high but Goldman sees prices rising more than 50% from here, to $15,000 per ton or about $6.50/lb.
There were certainly differing views with some sticking to forecasts for physical tightness in the second half of the decade. However all six members of the panel of market participants were unanimous that higher prices are coming eventually. You can take that as a sign of a one-sided trade or a sign that no one can find holes in the forecasts.