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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Mining update article from John Cornford. A fairer reflection than the October article before it. This latest is still a bit hit and miss though.
https://masterinvestor.co.uk/commodities/december-mining-update/
Was from 1st December but I’m sure it was missed on LSE at the time. So apologies if was posted before
https://www.mining.com/copper-price-rises-above-9000-fueled-by-optimism-about-china/
its always been said we have tomorrows copper , not todays. this is sorth alot more than £16m
Barrick CEO Mark Bristow: We do not have enough copper to ensure green-energy goals
US passing a bill releasing a lot of money for 'clean-energy'
' One thing about clean energy is you need a lot of copper' - 'We don't have enough copper to support being a greener planet'
Going to have to go out and find more.....Well.... :)
Get on the blower to Barrick
https://www.youtube.com/watch?v=l6ZOX_Yjxsk&ab_channel=CNBCTelevision
M&A rebound
Barrick’s Bristow said the precious metals sector requires “considerable consolidation” in the near term, but “no more stupid M&As.” Declining output and old assets make smart investments hard to come by, but he expects the industry will get acquisitive.
The world’s second-biggest gold producer will be focused on “the junior part of the market” this year “where it fits with our exploration focus,” he said on Dec. 28.
Meanwhile, copper miners are headed for a round of deal-making in advance of rising long-term demand for the wiring metal.
“We’ve seen for the first time in a long time M&A start to pick up and personally I think that theme is going to continue,” Lundin’s Rockandel said. “A lot of the big companies are talking about the challenges of finding more copper and wanting to grow their production.
Only £22k ……it all adds up. Doesn’t matter how rich you are.
"Also clearly not a closed period so no significant news in the short term."
If XTR are not aware of the conclusions of the independent consultants preparing the economic model then presumably Colin Bird is free to buy shares. Who knows whether the report will be favourable until it lands.
If however XTR is already in receipt fo the report buy it is not yet published then that would be a different matter.
Always welcome to see director buying. Perspective is needed though. The outlay is £22k. Not much to CB who undoubtedly is a multi millionaire. Now if it had been £100k plus it might raise eyebrows. Also note the market reaction which is actually quite muted and tells you everything. Also clearly not a closed period so no significant news in the short term.
fair play CB.. and while every little rise helps, in my mind this should not have gone under 2.5p in the first place, so until it gets back to 2.5p the s/p remains joke low versus the assets, even in very bad play out scenarios....
(in average to decent play out scenarios this s/p should be much higher than 2.5p.... and in good to very good play out scenaios this s/p is a total and utter farce)
IMHO & DYOR
"It’s probably best for now to let ‘Actions speak more than words"
Radio silence by CB who loves self promotion must be hard. So what does he do buy shares!
He's buying to tell us something he can't ACTUALLY tell us but it must be positive.
What's the closed period with XTR 30 days ? 2 months ?
At least 30 days until SP changing news then ?
Very unlikely yet to be in talks with AA.
Colin buying may not necessarily be based ‘only’ on his confidence in the economic assessment for BR. The company generally is in a very strong position going into this new year.
won't be any negotiations until xtr have received the model as Colin has said
Is there any negotiating going on just now if Colin is buying .? I don’t think so hope I’m wrong.
Looks as though the company must be worth at least 5p+. Could do with a few more directors buying.
Looks like Colin is taking the opportunity to average down and who can blame him!
This is bouncing from materially a oversold position, there is little chart resistance to 2.6p for starters.
CBs share purchases in reverse order
today circa 1.2m at 1.78p
aug 2021 2m at 3.5p
apr 2021 1m at 5.7p
feb 2021 1m at 5.8p
that's 200k invested from pocket
previous to maiden RC hole there were 3 tranches of 0.5m each at circa 1.04p 26,27, 28 Nov 2019
He's a believer, never seen him sell yet.
Chasing all the way down would be the other view
GLA
CB buys top man!
2p or not 2p by 1630hrs
Its a matter of opinion who's judgment you trust re future value.
The CEO of a company who will have more info than anyone and buys more at depressed sp, or the shareholders who recently sold..
Its a difficult one to call :)
Thanks Colin, good start.
Now an updated model that's financially viable at 4lb and a new podcast with the team.
That should see us back above the 5p.
Good to see CB topping up
he's been buying again
Very encouraging to see the rise. It seems to have stalled and we may see a pullback (even back down to support at around 8,500) before the next leg up and $10,000 is really within touching distance now. However this is very affected by global events to nothing nailed on here!!
Cu$9124.5
(LME Copper)