Member Info for 99icecream

When any share tops the "Top Risers" list, it attracts short termers that know nothing about it, and who will bail on the first sign of weakness.

OD3OD - Most of us will be careful about buying at this time given there has been selling below the bid price in size recently.

e.g. Yesterday at 14:13 500,000 shares sold at 3.7515 p when the market price was 3.80p - 3.90p

I don't doubt that good returns can be made here (e.g. +100% over a year), but I find the irrational exuberance concerning. EEE will need a great deal of drilling, and will need to raise a great deal of new share capital, before the mine becomes valuable.

We are still waiting for the start of work on the bridge between Brazzaville and Kinshasa (population 16 million). - If that ever happens a new rail link between Pointe Noire and Brazzaville becomes essential and Pointe Noire becomes a key port for DRC.

https://www.africanews.com/2019/05/16/road-rail-bridge-between-brazzaville-and-kinshasa/

Currently the rail lik is very poor, trains take 16 hours to travel 317 km (20 miles per hour) because of the poor condition of the track.

https://www.africanews.com/2023/05/17/rail-connecting-congos-brazzaville-pointe-noire-resumes-passenger-service//

Ask how much money did Kenmare spent to get the JORC resource. How much did it spend on capital to mine at the current rate, and how much did it borrow or raise from shareholders before they could sell any ore ?

The point is, that its not worth getting excited about.

As an example look at Kenmare Resources. It owns a Titanium mine that produces about 7% of world demand and has resources sufficient to produce at the current rate for > 100 years. It has Reserves of 1.5 Billion Tonnes and Resources of 7.3 Billion Tonnes.

What is its market value ?? < US$ 0.5 Billion !

James - Apart from anything else, you imply that Empire might have 5.6 BT of Rutile (Ti O2) whereas most of it will be Ilmenite (Ti Fe O3) worth about $500 / T in 2022.

"....ship is steady and nothing will stop this to break 6 / 7"

Proved wrong within about an hour!

Truth is we have no idea how many shares have been placed with real investors (who intend to keep the shares) and how many with persons who will buy anything if it comes at a discount to the market price (who intend to sell for a quick profit).

Once the overhang is gone the prospects are good, but I doubt the sellers are done yet.

Interim Results are due (six months to 30 June 2023) and I think these need to be publised before month end.

From RNS 19 June 2023:

"Cash at bank as at the date of signing the Financial Statements of £1.8 million" - i.e. 16 June 2023

The sahres for SQM and OIA have been approved, but have not been issued yet (i.e. the vote was yes, but the new share total [3,577,417,120] does not include SQM and QIA shares).

ALBi - Institutional investors cannot buy these small illiquid stocks. But that will change dramatically if the Kola project goes ahead as planned. It will be the role of the brokers (3 of them !) to market the Kore shares to new investors.

I don't know much about ESG, but I suspect an African Potash company would be an ideal investment for ESG funds.

Minister of Mines Oba !!

Interesting. Warren Thompson, is a co-founder of Summit Africa, and is Accounting trained.

Previously, there has been mention of Hannes Soll who is also a co-founder of Summit Africa (RNS 27 April 2017).

https://summitafrica.com/team/

As for Minister of Mines Boya this can't hurt his political career !

The numbers 1.8 Billion and 4 years are the old ones, it remains to be seen what Power China comes up with. From the recent RNS (12 September 2023):

"PowerChina’s review has generated a number of potential design improvements to the Kola Project that identify potential opportunities to further reduce the capital cost and the construction schedule"

This is at the wrong price so reversed (-ve)

14-Sep-23 13:05:09 2.50 -270,000

14-Sep-23 13:05:09 2.50 270,000

Later reentered with the correct price

14-Sep-23 13:05:09 4.50 270,000

4Kandles - Sorry, I was a bit rude. But, there is no difference between warrants and options. The history goes back to who issued and why, but thats not reallyrelevant.

ATB

The warrants aren't quite the same as share options but similar enough

- Hope your knowledge of project valuation is better than your knowledge of corporate finance - Whatever !

4Kandles - From RNS 13 March:-

Warrants

The Company has agreed to issue warrants over a total of 773,333 ordinary shares in the Company exercisable at 3.375p per share for a period of two years from date of grant to Shard Capital Partners LLP (Joint Broker).

Atom72 - hovering majors - A couple of comments.

Mining Titanium is specialist thing (see picture) - https://www.investorschronicle.co.uk/news/2023/08/15/kenmare-resources-revs-up-shareholder-payouts/ so most of the miners are not majors.

China is the biggest producer, which is good news as long as the West is concerned about supply of anything China has (e.g. Rare Eaths, Aluminium etc.).

The only major that I know is involved is RTZ (Canada and Madagascar).

A couple of firms listed in the US - Allegheny Technologies Inc (NYSE:ATI) and Tronox Holdings plc (NYSE:TROX)

4kandles - This is a small company with little cash. If it continues to be sucessful it will reward its key employees with futher options (i.e. not cash). Also it will pay other bills in shares or options, such as Shard's fee and the cost of the site etc.