Member Info for Bismarck

Weekly ICI4 price can be monitored here, currently $79.54 https://www.jwcindonesia.com/price-index

Indonesian 4200Kcal averaged $85/ton in 2022 and as of late Jan 23 was still $80/ton so a long way to go yet.

Interesting article. I remember when Carson Block did something similar to Burford Capital 3 or 4 years ago. The SP has never recovered to previous levels.

A 4% discount for Indonesian coal will certainly be welcomed but is no game changer. Surely with the huge recent drops in global gas and Newcastle coal price we must sooner or later see a significant drop in 4200Kcal coal price?

@ Danger_Mouse

Many foreign listed companies offer tax free divis to UK residents, Stellantis being one example of a value share with 8% divi, free from withholding tax.

@Canetoad

Strangely the lower oil price (since spring) and drastically lower gas price of late has had no effect on the SP of un-hedged producers like Shell.

@ Lockinvarlass,

Income from US shares is not tax free in an ISA. 15% withholding tax still applies to divis even with a W-8BEN.
You need to hold them in a SIPP to avoid that.

I'm please with the acquisition too and know that the inevitable immediate drop in SP following such placements is usually short lived. I've taken the opportunity to do a bit of share selling/buying and topped up with another 20K or so shares at a price level the same as my existing average. At >13% yield, tax free in SIPP the investment case is very compelling.

Now the interest created by the media publicity that pushed up the SP is settling down I can see this continuing to fall back to early 50's or possibly even late 40's and stay at around that level for a few months until production really starts to ramp up.

With production growth I then expect SP to start to properly recover, with a complete re-rating IF we hit the magic numbers that the company's targeting at the end of the year. For me it's definitely a question of keeping some powder dry to top up in the next month or two if an irresistible opportunity arises.

I had assumed that M & G's exit from fossil fuel investments and their disposal of OPG shares had created an artificially low SP which other institutional investors saw as an opportunity.

However my Stocko page has M & G still owning 42M with no change since 31 October, and it has been updated to show the 40M Prana/Talisman ownership in January so does presumably is up to date?

Currently it shows -

Gupta 206.4m
M & G 42m
Talisman 20M
Prana 20M
Pension Services 13.2m
Close Bros 7.4m
River and Mercantile 3.3m

So not sure who's selling all these shares?

One hell of a lot of share dealing going on for a microcap. £3.8m on 18 Jan, presumably when Prana and Talisman bought their 40M shares, but there have been significant volumes (several tens of £K's worth) traded most days since

Lower quality Indonesian coal with an energy value of 4,200 kcal/kg ended last week at $80.39 a tonne, the lowest since early September.

https://www.reuters.com/markets/commodities/asia-thermal-coal-prices-slip-china-india-buy-less-russell-2023-01-30/

57p unfortunately!

https://tradingeconomics.com/commodity/coal

No such drop for ICI4 unfortunately

The shareholders are listed as Prana GP Ltd and Talisman 37, which is a type of yacht.

That's if there is no connection between "GP Jersey" and "Prana GP Limited" in Jersey?

https://blockenergysupport.group/the-concerned-shareholders-response-to-block-energys-statement-of-30-july-2021/

I see there are now 2 companies each having recently acquired 5%, both registered in St Helier.

I don't have access to the full report or any further detail, only the headline numbers they've published I'm afraid.

For what it's worth.....

"and for Indonesian 4,200kcal/kg thermal coal around USD60 (10M2022: USD85)"

https://www.fitchratings.com/research/corporate-finance/indonesian-coal-mining-outlook-2023-07-12-2022

I'm sure they will have access to further funding. The fact that they are only expecting to produce half the amount of gold in '23 than they were forecasting 12 months ago is my greatest concern by far. They say that in 2023 the focus will be on a sustainable ramp up to 2,000 oz/month but with no indication of time period. For me that does little to inspire confidence.