Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. 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.
Gettingpoorer, BHP don't need to make any noise - they are the rich, successful older brother. If anyone else makes a bid for SOLG, e.g. Newcrest, as per the Ts and Cs of the agreement, BHP will immediately be freed up to make a counter offer.
BHP cannot make any noise until they are freed up , hence the silence. When they are able to make a noise they will, and I hope it's a loud and noticeable noise too.
With regard to NCM spitting their dummy out of the pram, a tad unprofessional really to say the least as NM’s response qualifies his decision for share holders.
Could all be sort of the game plan of course, despite what many believe I don’t think NCM have finished with Cascabel and SOLG, time will tell.
BHP of course kept stum as they are well aware of what’s going on.
With the size of capex there’s always a risk building it. But obviously the NPV means you probably take on that risk.
Just seen the article, interesting. Can they bid at this stage? Against the size of their company a holding worth £40m doesn’t seem worth making much of a fuss about, if you didn’t want to be involved you’d probably just leave it as a sleeper position.
Yes but at the same time you have to realise how rare and valuable these assets are
Of course there is risk, however the robust nature of NM’s technical info to date puts us in a great place.
I agree we prob will need the BFS before putting up a couple of billion to buy us, that’s why this Franco deal is even more impressive as obviously they did their due diligence.
The only risk is a global market collapse...
Remember there are at least six other projects that "could be as big as Alpala"...at least two of those being drilled right now have outcrops...easier to sample...
Alpala alone would be the biggest silver mine; 3rd biggest gold mine; and 6th biggest copper mine in the world...
Be patient....fireworks may start tomorrow after these 'M&A' articles.....
It's also the case that the capex here is large for any company despite the NPV so you would rather have total certainty on the asset (again via DFS etc) before you build. The risk is not the fee to buy SOLG, it's the offchance something is missed and the capex is much more than expected etc etc
Earthling - I don't know the asset well enough to say if there's any asset specific (or of course Ecuador) reasons. Broadly they would want it to get to BFS stage and then buy. I.e. if the NPV is £2bn or whatever, doesn't really matter to them whether the market cap is 30% higher post DFS.
This looks to me like a real asset hence I'm invested, but there's also the case that sometimes these projects are more trouble than they're worth and never going to go anywhere (ie PIs view is v diff to industry). The UK potash co (stupidly I can't remember its name was one of those), Kenmare had a £2bn+ valuation at one stage but most in the industry knew that Ilmenite was way over-valued at those levels hence never bought it. (although actually I just bought it myself at these levels)
Yes good point, what I meant was we see the big players being bought by bigger players. Why would they allow a minnow/ new kid on the block to keep the lot in Ecuador? Knowing it’s likely Ecuador will hold even better than Cascabel. They could be waiting to see what else we find like the pick of the crop possibly through a JV at another project or using the same model as Cascabel.?
If we do take this all the way it will some achievement indeed.
Let’s see if the Franco deal goes through which will put us in a strong position with regard to fighting off bids but It won’t be easy at all to develop such a huge mine. We will need the expertise and experience of the majors.
It’s clear we have a good relationship there re sustainability but I’m still not convinced yet we will be able to go all the way.
Guess we will know by the end of this year.
They don't care about competition as such, copper is a commodity it's not like SOLG are going to sell it at 50% of spot price into the market. A functional project this size is a suitable growth asset for a major, which is a different matter/motivation. I think the level of holdings the CEO has here is v reassuring, incl. £200k last placing. He's eventually gonna do the sensible thing, whatever it is.
Why would the majors allow us to go to production. Potentially being the next gold/copper player and thereby creating more competition for themselves?
I’m not saying. NM won’t put up a decent challenge but it’s unlikely one company alone will be in charge if you look at the other biggest mines in the world.
Barrick, BHP and NCM still the hot favs at this point.