So, profits slashed, cash down, shareholders have lost their shirts etc but just feast your eyes on those ESG highlights!
When management describe their pellets as being 'natural' foods you should understand that they think you are stupid.
I did warn about catching the falling ANP knife a while back, hope nobody here is in too deep.
Just went to buy a few more shares but limited to 20,000 max. On the sell side, I could sell all 370,000 in my SIPP priced above the bid (I didn't sell!). Bodes well.
Looking forward to the conference call tomorrow and hoping for a positive RNS first thing. GLA
With recent rises the mkt cap is now £10m. Not an important milestone but IMO worth comparing this still modest figure with the potential value of the copper resource. Considering what the future mkt cap might be I'm thinking 20x in 18 months is not unrealistic if the drills strike lucky and a major promptly JV's in.
IMO it's OK to dream if I don't let it interfere with my rational investment decisions. Have a good weekend, all.
I agree. A few of us have been saying for several years that a Chinese takeaway is most likely and there is a fair amount of Chinese global ambition and noise pointing towards that.
I'd add that the recent 250% rise in SP does seem leaky to me. If a 'somebody knows something' leak is responsible then IMO the source is less likely from someone living in fear of western insider trading laws. GLA
I like your analysis Extrader and thanks for sharing. Even though the iron ore in the ground is worth many billions, I too have wondered whether £1.56 will be seen again and after the recent Glencore activities I think this is now less likely (although the project now more likely to progress).
The same challenges remain:
- 300km of transport intfrastructure needs to be built at great expense and time to someone.
- ditto port infrastructure
- if only one party is interested in the project, we will not realise what we might consider a 'fair' valuaton for the asset
- so far we have zero parties interested (that we're aware of)
- ZIOC does not have the funding or substance to self-develop the asset
- Glencore's offtake agreement may be a problem for some would-be suitors
- Political, economic risks, etc
For valuation purposes I assume no further significant dilution. At the current 7p, the mkt cap is around £40m. if the asset were sold at say, $1B, the SP would be around £1.40. I see this as the upper limit at present but would be disappointed with less than a quid. Time will tell of course.
Perhaps we should meet for a beer in London if/when we finally get our pay day? GLA.
Catching the falling knife is seldom an optimal strategy. I'm waiting for a reversal before buying and even then I'd like some tangible good news first. I can see 330p being hit in the next few weeks. GLA
It's interesting to read the recent negativity around Darren. I received a fair dose of derision on this messageboard last year when I aired my own concerns about him.
I recall Darren once saying that exploration is easier in the winter because vehicles can get around more easily on frozen lakes and the mud freezes. I was highly sceptical of that. Now he's saying that exploration has to stop because of low temperatures and snowfall.
It's your money of course.
4.8p anyone?
looks like we came straight in at number 5 on this week's chart...
https://www.lse.co.uk/share-prices/risers.html