Member Info for BlueGlow

Lots of chatter about "Green Steel", but its a long way off replacing Met.

"Europe’s biggest steel-maker, ArcelorMittal, told the Financial Times that decarbonizing its operations on the continent in line with EU targets could cost up to $40 billion."

So expect Met to be in demand for decades.

I thought about taking a position in one of the bigger U.S producers like Warrior Met (HCC), but didnt, with so much uncertainty around. But they have all had a steady rise as Met prices recovered over the last few months.

Have taken bit of a hammering on PXC the last few days.

Some guy called Donald Pond with links to the BoD made some dodgy statement on one of the chat sites and started a panic.

Sorry to hear about He1, assume you still have a position, its been one problem after another there!

Yeah, and i do like Adam too, just not sure how sustainable the rise in Met coal price is.

Steel prices arent anything special if you look at a 5 year chart, Met seems to have risen ahead of Steel, would he useful to have a chart overlay of the two.

Is the Welsh mine listed?

Thorough interview on Stockbox with CEO Adam Wilson, worth a listen if you have any interest in BCreek.

https://www.youtube.com/watch?v=XQd4BIIhUKc

They were operating at a loss with Met coal at $190, B/E is roughly $210.

SP responded today with a decent lift, i thought about it but am not yet sufficiently bullish on Metallurgical coal, though it continues to rise, U.S listed competitors at ATHs. Our London listed company is at an ATL.

Its tricky to find a reliable, regularly updated tracker for Met coal prices without a subscription.

Price at the top of the page:

https://www.coalminingusa.com/index.html

The situation with the Chinese property market is obviously a drag on Steel, but potential for a big rebuild in Ukraine, swings and roundabouts. Had a read around, generally the outlook for Steel and Met is mixed.

Lithium, almost back to early 2021 prices, before the spike.

Oversupply and low EV demand.

Gold is so passé, Emeralds are where all the actions at these days dont you know :)

URAH, targeting production in Q1, 10 bag potential imo.

Sold DEC, price action is too scary for me at the moment, but im just trading - its not part of an income strategy.

The three freedoms / reasons he gives for not rejoining.

Immigration:

At records highs since leaving the bloc, EU workers simply replaced by people with more pronounced religious and cultural differences exacerbating the likelihood of social tensions. Souring of relations with France who we rely on to co-police the channel border, hampering our ability to tackle the "small boats" issue.

Faster Access to Medicine:

A complete and utter lie, based on the lie that we were able to conduct a faster roll out the vaccine outside of the EU. The EU's vaccine procurement program was not compulsory and did not preclude participants from pursuing their own procurement strategy, it s was a backup or safety net we snubbed in case our own efforts didnt yield the desired quantities, much like the ventilator procurement program which we also snubbed, both of which could have cost lives.

Higher Animal Welfare Standards:

Another blatant lie. EU standards are a floor not a ceiling. There is nothing to stop members having higher standards for animal welfare. The only freedom accrued from being outside of the bloc is the opportunity to keep livestock in worse conditions and to administer substances to artificially boost growth which are banned inside the EU due to public health concerns. A parallel can be drawn with our environmental "freedoms", which the conservatives are currently embracing by enabling more dumping of chemicals into our waterways.

PXC, exciting. Looks to be closing above the trend line from 2021.

Got some this morning, phew.

Yeah, agree.

Having previously raised smaller amounts on an ad hoc basis at market rate, i was a little disappointed they chose to raise all the remaining capital required in one hit, with the SP already on an artificial low. But, i suppose with production fast approaching this was perhaps the only practical option with some processing equipment still required.

On the plus side it has presented a very good buying opportunity.

BoD participation was again very good, with Ed taking £58,000, and the wider Bod a further £80,000, so 13.8% in total.

This shouldn't be overlooked imo.

Ed, as Chairman is one of the reasons for confidence here, track record and experience in the jurisdiction.

Lols Tro :)

Lucky guess.

Won't look so smart if a finance package lands though.

Gosh, is this being investigated do you know nom?

Thanks Tro, yeah, always appreciate your advice.

I sold PXC, need a retrace now to get back in though lol. Sometimes its safer to be in than out, might be one of those moments.

I have a position Tro.

If it comes good it comfortably mulit-bags imo.

Edward Nealon on the BoD (Aquarius Platinum), BoD hold plenty, and have experience in the jurisdiction.

Placing was broadly in line with what i expected them to need in total to get into production. However, previous placings have been conducted at market rate for 3 hundred thousand or so, on an ad hoc basis, and thus easily absorbed without impacting the SP. This time they have elected to raise all the remaining required capital at once, and with production approaching that was probably the only practical option, with some vital processing and sorting equipment still required.

Risk is largely jurisdiction related, as nom has kindly highlighted to me a few times.

Tro, URAH

Placing 1M, decent BoD participation, start mining, Q1, 24.

Shares land on 12Dec, subject to AGM approval.

Trades were almost exclusively buys yesterday, but price didnt budge, so expect churn short term.

Price is highly attractive for a hold position, but low volumes, spread and fees (its main market) with new shares landing mean there are easier options for a quick trade imo.

Farage eating various unsavoury items not usually classified as food on ITV.

"Confirmation", sorry lol.

Kenny,

Made me laugh :)

Raise of £1M, via accelerated bookbuild.

So thats the finance sorted. Interested to see who participates, conformation of target to start production in Q1, and a prospectus to look forward to. Should generate a bit of interest!

Kenny,

Big Dave getting his induction.

They did it so much better in the "olden days"

https://youtu.be/2uV_4-IdUZw?t=187

If you dont carve them into a rock, they dont count!

https://www.youtube.com/watch?v=zQ7YNR9QkdM