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Today's fall in JOG is probably caused by the RNS from Deltic. Deltic are saying that its currently very difficult to do North Sea farm out deals etc. due to:
"... the continual tinkering with the Energy Profits Levy and resultant fiscal uncertainty created by the current government, along with recent rhetoric emanating from the Labour Party"
https://www.lse.co.uk/rns/DELT/pensacola-update-soxmfg025hjejdl.html
I hope at some point we get more detail on this, but it is currently very low on specifics. For example what discount date is used for the NPV. Is it the project NPV or the NPV attributable to shareholders (Congo have a 10% free carry). What have they assumed on the Iron Ore price and margin for Pellet grade etc. etc.
Good news on the costs, but we need more detail.
Thanks extrader (and MM). - I'll bet nothing will be signed without Denis being present to claim the credit !
IMHO both BHP and Anglo have spent so much on their respective projects that they must be completed so that they can get back some return on them.
With Polyhalite the amount of Potassium is very small (about 15%) that of KCl, and in any case its more of a competitor to SOP than MOP, (infact they market it as Poly Sulphate).
I suspect Anglo may come to regret their investment in Woodside, because it assumes that they can sell about Ten times the amount sold by ICL.
Note that, Polyhalite is suitable for plants that don't tolerate Chloride (as in Potash or common Salt).
Polyhalite
https://www.icl-uk.uk/7-reasons-to-love-polyhalite/
Woodside has little relevance to KP2 as Polyhalite contains only a little Potash. It is a mixed/specialised fertiliser with only a small market at the moment and only one other supplier (UK also).
Its like Schrodingers Cat - the only way you know if its a buy or a sell is to try a dummy trade in 1 million.
The 3rd Tranche can be taken at any time.
The overhang of the 3rd Tranche of 12million shares (Shard facility) might be a factor in limiting the price rise.
They should have a REX issue, like Emmerson (on8th April) , so we all could have bought at 0.38p.
https://www.lse.co.uk/rns/EML/rex-retail-offer-qk9rstdu5dvbf3j.html
Global Sustainable Minerals already have a 20.1% Shareholding and 5.9% Exposure via Warrants as a result of the Share issue RNS - 8 April 2024.
LT - Lets assume that you were a large shareholder (not invited to purchase shares at 0.38p) in the latest placing - would you not be inclined to vote against Mr Hawthorn ?
I think you will find (on the Emmerson Website) that Global Sustainable Minerals already have 20%. This is now 26% because of some kind of derivative exposure.
My thinking was the unexpected additional fund raise might be the reason for the delay in signing. It being best to keep the two things separate.
Lets assume the EPC signing occurs tomorrow, and as a result the share price rises substantially. Would the GM vote (on 13 May) allow Mr Hawthorn to get his shares at 0.38p ?
Another factor might be the General Meeting on 13 May 2024. It might be necessary to delay the signing of the EPC until after 13 May 2024.
Perhaps the signing date is to be co-ordinated with the Government ?
Its ironic that the Nickel price was up over 4% on Friday (now spot is over $19,000, Dec 27 Future $21,700)
If fresh water is in short supply, even grey water will have competing uses (e.g. irrigation), so will need to be used as economically as possible.
https://science.howstuffworks.com/environmental/green-science/gray-water-reclamation1.htm
The plan is to use Grey water. But even Grey water supply must have some limits. So there should be no need to use fresh water anyway.