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Just got a call back from IG. They have now corrected the error. I have done a dummy trade and Stamp Duty is no longer being added to the buy price. They've said they will have to wait for the trades to settle before the refunds can be applied back on to all of the accounts affected. Cheers.
The main difference here is that HEX are talking about production from the off. They are quite confident that they will hit the Helium as this is a producing basin. With HE1 it was all about making a discovery and even that took several years.
For anyone here who has bought these shares on IG, I have spent the best part of the last 2 hours trying to get through to anyone who is working in the London office to query why they are adding Stamp Duty charges to these buys. I have now spoken to someone who has looked into this and who agrees that this has been set up incorrectly and hopefully the stamp duty charges will soon be refunded and not applied to new buy trades.
ATB
The problem with IG these days is that all of the staff are based in some far-off foreign land and even though they are very pleasant, helpful and well-trained they still cannot address any problems in the way they sometimes need addressing. I get a lot of calls go through to South Africa, some to India and my latest one this morning to Krakow.
Of course, I requested that they put me through to someone in the London office but despite waiting for another 10 minutes no one was available. I have been promised a call back from someone in London - I can only live in hope.
I'll repeat some of one of my posts from yesterday:
"The IPO seems to be reasonably priced, considering they are drill-ready including the funding. HE1 IPO'd at 2.84p with 497M shares for a m/cap of £14.2M. HEX IPO's at 10p with 122M shares for a m/cap of £12.2M. On checking I see that HE1's share price rose very quickly after listing despite being little known at the time and was over 8p within the first week of trading for a m/cap peak of over £40M. It then stayed in the 7p/8p range for 4 or 5 months until they started drilling."
Also in the run-up to drilling, as HE1 secured a rig and mobilised it to the site, the share price rose sharply from the 7p/8p range to settle around 20p for a m/cap of over £100M. Oh, and that share price/m/cap included that HE1 did a £10M placing at 10p a share despite raising £6M at the IPO. Somehow I can't see that happening here with the large availability of rigs and the cheaper hire rates.
ATB
Great. Tradeable on IG at last so I did 2 early transactions only to be charged Stamp Duty on both. This share is clearly listed on the AIM market with no stamp duty chargeable and besides the trade I did yesterday on H/L was not charged stamp duty. Now on top of the 36 minutes I spent on the phone to IG yesterday trying to get this share listed on their platform, I have had another 14 minutes today trying to get the stamp duty charge refunded - though so far to no avail as they claim it was not charged even though I can see the deduction on my account.
Yes, I can see that it is listed on IG now, though it still isn't on Interactive, though this isn't a problem as I use IG most of the time these days. Funnily enough I see that IG has got the complete chart for the day, even though it wasn't on there until late.
I actually phoned IG 3 times today to ask them to get this listed. It was very painful as they didn't have a clue what I was on about. I was asked to repeat the name of the company and the ticker numerous times. They were going to email me as soon as they got it sorted but obviously forgot.
This should start to move upwards as soon as it is available on all of the brokers.
These are not yet trading on IG Markets or on Interactive Investor. Someone posted earlier that they are not listed on A J Bell either. I got some on H/L though I did not have much in the way of funds in that account. Can anyone confirm if any of the other brokers ie. Barclays, Halifax, etc have this listed yet.
"The drilling of an appraisal well to approximately 8,000 feet (2,500 metres) is estimated to cost approximately US$1,160,000."
Wow. That sounds very sensible. Even MSMN are quoting up to AUD5.5M - £2.85M - for their farm-out drill in Australia.
I've called IG 3 times to try and get this IPO listed on their platform but to no avail so far. Not to worry though as I have got some with H/L - just the dealing fees are a bit higher. Hopefully when all the brokers get the share listed the demand will pick up - and with it the share price. See below.
The IPO seems to be reasonably priced, considering they are drill-ready including the funding. HE1 IPO'd at 2.84p with 497M shares for a m/cap of £14.2M. HEX IPO's at 10p with 122M shares for a m/cap of £12.2M. On checking I see that HE1's share price rose very quickly after listing despite being little known at the time and was over 8p within the first week of trading for a m/cap peak of over £40M. It then stayed in the 7p/8p range for 4 or 5 months until they started drilling.
HEX appear to have a very experienced CEO in Bo Spears which will certainly be a bonus.
I never quite get all the ramping about Nevada - "the best mining jurisdiction on the planet", "the biggest mines", etc, etc. I know several companies - Tertiary, Great Western Mining, Sunrise Resources, Thor Mining - who have spent years and years trying to prove up resources in Nevada with very little success.
This is now a completely fresh start for Tertiary Mining and I tell you now that if this upcoming drill hits high-grade copper at 2%, 3%, (or a lot higher because '250 million tonnes with a mean grade of 3.8% copper' is just an average over the whole prospect), then the m/cap won't be at £2M for long, nor will it be at £20M for long. Huge potential here.
And as SeisNav has pointed out Tertiary have other prospects in Zambia, though this is the one that is in focus for now with a fully paid-up initial drill campaign.
ATB
This is a very exciting fresh start for Tertiary after all the years they have wasted in Nevada.
The geophysics shows that the mineralisation from the adjacent high-grade copper deposits extends into TYM's acreage. They have a well-funded JV partner, who owns the adjacent acreage, and drilling is due to start by the end of April. I would expect a fairly decent share price rise into spudding and then at least a 10-bagger if the drill hits the high-grade copper. After all the m/cap is only a miserly £2M at the moment.
For goodness sake stop squabbling. This is a fresh start with a very exciting prospect.
ATB
"The Konkola West Project is targeting deep down-dip and along-strike extensions of the contiguous Lubambe-Mingomba-Konkola copper deposits to the west of the Licence and which extend north into the Musoshi mining complex in the Democratic Republic of the Congo. Together these deposits comprise a 15-kilometre-long continuous zone of mineralisation that contained a pre-mining endowment of over 775 million tonnes grading 2-3% copper. Konkola West is located approximately 2,000 metres southwest of the Mingomba deposit which lies between the Konkola and Lubambe mines and which currently has a reported mineral resource of 250 million tonnes with a mean grade of 3.8% copper."
This is a genuine high-grade copper prospect which is made even more attractive with the price of copper rising along with gold and at nearly $9,500/ton