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Recent results from chip makers (especially Nokia demostrating what a failure mm wave 5G has been) signal more pain ahead. It's a very gloomy environment out there for IQE at the moment. Only glimmer of hope I can see on the horizon is Seagate finally giving 30TB HAMR drives a big push at the start of 2024. Hopefully they're using lots of VCELS mass producing as we speak.
News out. Very exciting. Northern strategy coming together. Relationship with government looks strong. ESG credentials will be significantly enhanced. Obviously financiing comes next but it won't 250M up front, looks like an investor is in the wings (for and SPF so not dilution to JPL) but at the moment take the company at their word and expect it to come from banks.
Completely relaxed about funding. Eastern Limb PGMs are commercially recoverable. With the current basket price the company has better options. This shows the strength of a multi metal approach.
Verserien's current financial difficulties have nothing to do with the fact they once had a contract with the MOD. They are down to the lack of maturity of the graphene market as a whole.
When TGR was making big statements about the downstream graphene business (especially making lots of money in the short term from copper replacement) plenty of us stated it just wouldn't happen. Still want them to progress the downstream business but see it as a money maker in at least 5 years+ if they are careful (this sort of thing can suck up a hell of a lot of research money).
New news is never announced in results HappyDays43. The chrome deal isn't off the table, "setting a target annualised chrome concentrate production rate of 2 million tonnes (60% expansion) over the next two years."
That's exactly the same guidance we already had and is dependent on the extra 600k tonnes being delivered. It'll get it's own RNA when it's ready.
Nothing to turn round. Just keep on going. The company is making money in a hostile market at the bottom of the cycle; it's able to find cost effective options for growth by pivoting to higher priced metals (pause Eastern Limb, focus on chrome and continue to build copper); and weathered some one off costs in the form of infrastructure upgrades for resilience. Even if metal prices don't increase production will be significantly up and costs down in 2024.
Just have to go with this statement jammin, "Operating costs and AISC were better than budget due to more ounces produced and lower than budgeted Open Pit mining and Processing costs. Management are continuing to monitor actuals versus life of mine forecasts to assess the long run steady state cost structures."
Sticking to forecsast but monitoring following lower than expected all in costs in H1.