The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
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Would love to hear thoughts on the election. I feel if Aruaz wins we'll see a relatively stable transfer but if Lasso wins there may be some unrest?
The company is comfortable either way AngHol...
Auraz Aruaz for the top floor solg gonna get you off the floor and lead your country (mining) into the top four !!!:) imho...
Another close at the high of the day .... on a Friday too 27.95
Is that close price just lse's interpretation or is it real. Never got my head around why lse cannot get the bid and ask right at close of play (only on SOLG)
DBW, great finish to week ,max will like it too imho ,have a good weekend all .ONWARDS AND UPWARDS! !!:)
And another big UT...327187 at 27.95...and the auction got as high as 775868...
crackerjack!
“ Don't underestimate the importance of potentially the next biggest copper/gold mine this decade”
Ha agreed Colonel but which one ...... Rio , Porvenir or Cascabel??
DBW all three we hope!,thanks Colonel for info we wait with patience,fastjet £1.32 lol!!:):)
Bubble I think you need to revise your expectations by x2.5 min based on the information we know today.
This beast evolves and changes every quarter and Alpala alone is a £3b+ asset.
We have a new major discovery at porvenir and they are already talking about another shallow deposit near cascabel.
I would be very disappointed if we are acquired for anything less than £2 a share.
Time is our friend.
I see a competitive bidding process pushing our SP to £3.00
£6b for our portfolio is peanuts and this will be worth multiples if we could hold onto it for another 3 years.
The majors won’t allow that to happen
Agreed I don’t believe BHP think they could get this for £1.32
BBG, I agree with you about valuation, although £3 may be a bit of a stretch.
However, and it's a big however, I think it's going to be difficult to persuade anyone to pay a decent price unless we can demonstrate that a conditional funding package is in place.
If we place ourselves in a potential buyers shoes we will know full well that the company is constantly in need of cash and although there's no reason to suspect we won't get it, past performance is no guarantee of the future. This is THE major weakness in our armoury.
If we are able to prove we can fund ourselves up to and including production, our negotiating position is transformed and a "proper" valuation could be achieved. This is the incredibly difficult balancing act the board is confronted with.
RK reminded me the other day that NM had said we'd lined-up $1bn of the $3bn needed. This was quite a long time ago...what has happened to it?
By the way, before anyone accuses me of changing my tune, I haven't and maintain my view we will not take this to production, at least not as 85% owners. It will either be sold or we'll jv it. You could easily argue " hang on a minute, if we get the funding package, why would we need to sell?" - and it's a fair question. The answer comes back to the age old argument and overriding imperative that BHP are not here for a 14% minority holding. This trumps every other consideration.
Morning Add
The igher thing I’d like to know is who’s our mystery buyer of late
Exciting times ahead indeed ... GL to ALL of us
Dan
Addicknt, my view is that you are correct re funding if we only have 1 bidder, if however we have 2-3 major bidders I don’t think it maters if we can arrange funding ourselves as market forces will push the price up through competitive bidding based on our assets.
Paulus, I'd agree with you if I didn't believe that other intetested parties would be deterred by BHP's existing position. Certainly as far as Alpala is concdrned, I can't see anyone other than them owning it
Whatever happens I think things will get very interesting once the elections are over with. I think the Chinese will play an important part ( whether one likes them or not).
Nice to see some positivity returning and looking forward to next week...
isnt the risk of running out of operational money good for us? someone looking behind the fence would say, once they are starving, the possibility we are bought cheap by another is real. so this guy looking behind the fence doesnt want this to happen. Could be wrong of course
BBG,Indeed I'd be very happy with £2+,in perspective of other tenaments 3x tier 1 assets ,my figure was for cascabel.
We may get a decent bounce next week to get the ball rolling if city look on Ecuador election results favourably imho ,few drill updates chucked in aswell.
Colonel yes I think they will,add some drill updates aswell that would be nice
Colonel, looking at Perez’s Twitter feed he appears to be losing some credibility among some of his supporters for telling them to spoil their ballot papers. He is being accused of only self interest and not really having the interest of Ecuador at heart..
Interesting dynamics at play.
Perez is US backed candidate and was discredited back in March after trying to get the military to intervene in the elections.
Arauz last week seemed to gain the backing from Indigenous groups.
Let's hope Arauz does gets in and keeps all parties happy.
looks like Aruaz on the exit polls !!! 55p and onward here we come ; O )
Significant jump this week. 15-20% just on election result.
Good news !!!:)