Adam Davidson, CEO of Trident Royalties, discusses offtake milestones and catalysts to boost FY24. Watch the video here.
It's too early to draw any conclusions Terrafin. He indicated the 1st half and there's still some way to go, although it's likely that as and when a deal is done, it will need to go through legal processes, to ensure it's binding, before an announcement is made. We may or may not be in that process at the moment. We just don't know, so it's a waiting game.
Good news, but it's also interesting that PC has taken the opportunity to reaffirm that Konkola West "has the potential to deliver transformational results for the Company" following his visit last week and discussion here regarding the the interpretation of the photographed core samples.
You pose an interesting question SeisNav.
There is no automatic right conferred in favour of Kobold to buy TMZ’s interest, as there is with Mwashia’s, so a negotiation would have to take this into account. It’s TMZ’s choice, adding leverage. Also, the Mwashia buy out number has been agreed prior to proving the resource and so, assuming good drill results, the figure would in all likelihood have to be higher (pro rata).
It's disappointing the share price here isn't moving higher, but it will.
TYM's is because it is different, there are a lot of projects about to deliver news and it's not necessary to mine the copper, which does take years, to move the share price. You just need to confirm it's of high quality and there in large quantities which is what the drill start aims to do. The Storuman project is scoped at approx. £1.2bln + and it's awaiting a permitting decision.
So there are a number of differences between the two but I'm sure SRES will soon catch up.
Tym's rally isn't really based on nothing. It has a lot of news coming; the Konkola drill starts later this month in it's JV copper tie up with Kobold which has received a lot of media coverage recently in the FT, the likelihood of further JV's on on the horizon in it's numerous Zambia copper projects and an imminent decision on its Storuman Fluorspar project in Sweden. So it's shaping up to be a news rich May/June/July.
No you haven't missed anything, but the comment you're referring to was made to reassure investors that the company had no intention of spending further resources on the project until the outcome of the Inspectorate's reappraisal was known, which should be soon.
In a relatively recent interview, I can't remember where exactly, possibly Proactive Investor, PC referred to an up to date approx. value of the Storuman Fluorspar being in excess of $1.2bln.
There's also quite a lot of info on the company web page:
https://www.tertiaryminerals.com/storuman-fluorspar-project-sweden
The Stockopedia estimate can only be guesswork. They don't have access to the company bank accounts and I'd be very surprised if they've gone through £255K since February. It also doesn't take account of whatever the residual balance of the Co. bank accounts were at the time of the placing.
I think it's unlikely there'll be a raise for a few months yet, if at all. If the company in negotiating other deals manage to deliver some upfront cash then it may not be necessary. I wouldn't let it put anyone off buying in or topping up now.
12 February 2024
Placing to raise £375,000
Tertiary Minerals plc (AIM: TYM), the London listed explorer focussed on copper and precious
metals in Zambia and Nevada, USA, wishes to announce that it has raised £375,000, before
expenses, through a placing of 468,750,000 new ordinary shares (the "Placing Shares") in the
Company at a price of 0.08 pence per share (the "Placing Price"), being a 15.8% discount to
the closing market bid price on Friday 9 February 2024 (the "Placing").
Go to the company's website:
https://www.tertiaryminerals.com/downloads/20240212-tym-rns-placing-to-raise-375000.pdf
All the trades you've been seeing for the last couple of weeks at 0.0455 are buys. They're showing as sells (red) because the trade took place below the mid price. Anyone who's bought lately will know this. The 1M trade this morning is mine and it's a buy.
I welcome the surprise sale of the Diatomite claims this morning, although I think the deal could have been better.
I don’t think anyone should get too fixated with this deal in relation to the future prospects of the company. The sale is unexpected, it provides some limited up front funds which helps, and is no more than a side show relative to the company’s potential through its flagship projects, which include the CS Project, Pioche, Hazen and possibly Reece Ridge once more analysis has been carried out.
An accumulation of royalties payable over a significant timeframe is no bad thing; Pioche 2.4% for 25 years, Garfield 2% plus buy-out clause, Diatomite no less than 10 years @ $6/ton plus buy-out clause, Jackson Wash 2.5% plus buy-out clause etc. it all adds up and will reflect in the share price is due course.
In the meantime, we await news on the CS Project which will dwarf all of these.
For anyone wishing to know more about Diatomite here’s a link:
https://pubs.usgs.gov/periodicals/mcs2022/mcs2022-diatomite.pdf