The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
The Russian listed subsidiary of Barrick Gold, Fedorovo Risors, was sold in May to a consortium involving Rostec and Oleg Selznev/ Andrei Komarov. It's 100 miles or so away from Monchegorsk and should provide a reasonable benchmark for potential value of MT at least. The region's governor, Andrei Chibis, describes the Fedorova resource as "the largest deposit in the world by palladium reserves, very relevant and important."
The difficulties experienced by Barrick in renewing the license reinforce the point of view that any potential buyer for MT/ EUA will be Russian. Foreign investment in strategic reserves has been strictly curtailed since the changes in subsoil law from 2008.
It's also notable that Norilsk Nickel were not involved in any bidding process. From the second article from 2017, Norilsk Nickel reported that it didn’t consider the partnership or purchase of the license from Barrick. The RBC article states that Barrick Gold is unlikely to have received more than it invested in the project - $ 60 million (data from the authorities of the Murmansk region).
https://www.rbc.ru/business/15/05/2020/5ebd49a99a7947123b2e6937
http://www.russiamining.com/mining-news/barrick-waits-renewal-russian-license
An interesting article, just to balance the "Bashers" debate:
“The Wisdom of Crowds” by James Surowiecki holds some great lessons for online investors. Surowiecki talks about the four conditions that need to be in place to form a wise crowd:
1. Independence - where people’s opinions aren’t impacted by the opinions of those around them.
2. Diversity of Opinion - where every individual in the crowd makes decisions based on their own private knowledge.
3. Decentralisation - where every individual is located separately and able to draw on different local information.
4. Aggregation of Results - where there’s some mechanism to bring individual perspectives to a collective decision (e.g. a market).
The problem with bulletin board crowds is they break the first three of these rules.
Firstly, the initial frames for a stock pitch are often made by just a few very vocal, highly intelligent and confident people. People often defer to authority figures (known as authority bias) and so these ideas are shared and accepted by a growing number of people without critical thinking. This creates an information cascade that denies independence of thought, especially amongst time poor private investors. It also leads to over-confidence.
Secondly, diversity of opinion on bulletin boards is not welcome. Time and again when a critical, bearish thinker appears on a bulletin board he’s blasted as a ‘deramper’ or a ‘troll’. Often he’s banned from the thread. Investors only seek confirmation and confidence that their decision to stay long is correct, they seek to silence challenging or contrary opinion.
Thirdly, while most investors may sit in their home offices or at work, they often aggregate in a single forum to think and share all information together. This is the antithesis of decentralisation.
All these factors are completely contrary to wise crowd formation - and they tend to lead to groupthink.
In the cacophony of voices in a bulletin board the best storyteller with the best story wins.
https://www.stockopedia.com/blog/can-you-beat-the-market-reading-stock-market-bulletin-boards-144414/
Yes, good replies about patience required. The annual report suggested ALM were working with two year plus timescales to maximise returns.
Couldn't resist posting this for you NuckyT; as a fellow Scotsman I hope it makes you smile!
ATB Brox
https://m.youtube.com/watch?v=BZFFTu2GCjI#
HappyScot, the address at CH matches the registered office address on the website.
ACF Equity Research Ltd is run by a Christopher James Nicolson who is sole director and 100% shareholder. In the last micro-company accounts submitted for YE 31 May 2018, ACF had a balance sheet value of £2,170. I see he's a bit late with the May 2019 accounts...
https://beta.companieshouse.gov.uk/company/07629519
This is the reply from BKY to a standard price and volume query from the ASX. Similar releases were made after sharp SP rises in Jan 19 (favourable CSN reports subsequently received) and May 19 (positive local election results and award of non-uranium exploration licenses were announced a fortnight later).
The company obviously can't state any developments that have not been officially ratified by the authorities, but I strongly suspect that the latest rise is due to speculation that the CSN ratification will be granted. I don't think we'll have to wait too long to find out if this is indeed the case.
https://www.asx.com.au/asxpdf/20200618/pdf/44jrg6dfhx8157.pdf
.....it's also good to see that the National Court continues to reject the spurious legal challenges from the environmentalists.
Perhaps the recent SP recovery is due to favourable reports issued recently from the CSN in regard to other nuclear projects in Spain. It's certainly reassuring to see this, especially as they seem to be adhering to the legal requirements of their role and not issuing subjective decisions as feared. Watch this space I suppose...very encouraging.
https://www.europapress.es/temas/csn/
If you think divulging someone's personal identity on the board is OK, that's for you. I could do without revengeful Roman philosophers in disguise behaving like total scum.
Dear Ian_
Are you condoning this sort of behaviour?
There was some good debate going on earlier between Mac, TDT, A1EX, etc but the new avatars appearing today are well out of order. You know why. If you think this is acceptable think again. Utterly disgusting lowlifes.
In with Jarvis/ X-O as well. Hold for me too.
No probs john389, weird happenings on Twitter indeed. I hope those responsible get what they deserve.
john389
In what way is my post misleading?
There are several similar fake tweets on that site, eg Amur, UJO, Genedrive and more. All the links on these tweets are the same and take you to Smallcappicks twitter page, which is blocked. Make of this what you will.
A1EX
I found this on Google Earth and thought it might be of interest to you. It's a 360 degree view which would seem to take in a perspective of the West Nittis area under potential development by EUA. I've had a look at the writing on the sign and the second line would seem to translate as GMPV in English? The numbers on the first line don't seem to correlate to any published drilling from the Anglo days though. It would be intriguing to see what you can find out. if you select "street view" when viewing the area, you'll see other panoramic images in the vicinity.
https://earth.google.com/web/search/monchegorsk/@67.911499,32.74069977,465.96677596a,0d,39.28902514y,189.910262h,87.00087844t,0r/data=CigiJgokCdulcDS9IExAEbdkMvBGH0xAGUXHM2bmlQnAIVuEd5p88AnAIjAKLEFGMVFpcFB3aktmaGdWdm52VG94SVlpdS1xcy1RNlRSMjQwVENNY3V1V3I5EAU
I forgot to mention there's no stamp duty to be paid on the issue of new shares (0.5%), but this would not be too relevant in your case! The vast bulk of the new issue will be taken up by IIs, but it will be interesting to see just how much is raised through PB. It really depends if you think the extra cash will be of significant benefit to the company, and therefore the SP, going forward.
There have been other issues through PB recently (and importantly through non-public placements) which have been very detrimental to existing shareholders, for example TRX issued a placing at a 75% discount to the prevailing share price. It's worth signing up for PB as you'll get an alert when there are new issues. It's also important in my book that the public can take part in these placings, rather than being diluted heavily without being given the opportunity to partake.
Pro_G, you'll be giving the company your money rather than an existing shareholder.
darkhorse1002, 1 17/200 pence is the par value of the shares. issue price will be around £3.
Good to see PI's and existing shareholders getting a fair deal in the placing via Primary Bid today. The Issue Price for the Retail Shares will be equal to the mid-market closing price of SSP’s ordinary shares on 3 June 2020 (please see RNS for additional details). This is the same price as offered to institutional investors.
https://www.primarybid.com/offer/82