Member Info for Cacher

£3 target for Berenberg
https://www.proactiveinvestors.co.uk/companies/news/985584/anglo-pacific-gets-upgrade-after-queensland-changes-coal-royalty-rates-985584.html

https://www.proactiveinvestors.co.uk/companies/news/985504/anglo-pacific-eyes-75-uplift-in-kestrel-revenues-as-queensland-ups-coal-royalty-rate-985504.html

Brilliant news. Things really falling into place for APF.

Webcast recording of the merger presentation here:
https://event.choruscall.com/mediaframe/webcast.html?webcastid=pPN9PDKK

I agree they could be a little more dynamic. I don't want to see the pursuit of growth at all costs (which will come back to bite some of the smaller players adopting that tactic), but I would like to see APF flesh out the portfolio and diversify its future cashflow profile a little more. As I said earlier, Piaui should be a cash cow for many years to come, but I'd like to see APF add to that income profile rather than relying on Voiseys Bay and Piaui to provide the bulk of future earnings.

Successful royalty and streamers have to be somewhat contrarian in their approach. There's no point paying top dollar at the top of the market. We're about to see further evidence of APF reaping the rewards of what they've sown. Both Piaui and Incoa will require funding fairly soon. A deal like Piaui would cost multiples in today's market. APF had the foresight to put a very accretive deal in place early, when nobody was interested in nickel/cobalt.

Makes a lot of sense to me. Altus has the pipeline, Elemental had the cashflow. This'll be well received over in Canada..
https://www.proactiveinvestors.co.uk/companies/news/984798/altus-strategies-and-elemental-merge-to-create-significantly-enlarged-mining-royalty-vehicle-984798.html

MBL on Bloomberg:
http://www.bnnbloomberg.ca/video/anglo-pacific-ceo-discusses-the-company-s-shift-from-coal-towards-esg-and-battery-metals~2458338

Yup agree. eSmart Networks is the draw here. Will continue to hold.

I don't see any reason to worry at all. Kestrel produces met coal, which is absolutely vital in delivering any net zero/climate agenda.
Of course, Kestrel from an APF standpoint is much less of a concern. With a full year expected in 23, followed by a taper to circa 50% over 24-25 before it dwindles away the long term outlook on coal isn't something APF need to think about.

Recent news from Incoa re: distribution agreement for their calcium carbonate:
https://www.palmerholland.com/in-the-news/INCOA-Performance-Minerals-Partners-With-Palmer-Ho

Yes, looking forward to seeing the progress made in eSmart Networks. I suspect the concerns centre around the inflationary pressures being felt by Tamdown. We'll have to see what sort of impact these widespread spiralling costs are having.

It's a trade off though. Personally I'd rather see them recycle as much cash as possible into further deals. They pay a sector leading dividend by quite some margin already. Average yield in the royalty and streaming sector is probably under 2%. MBL wants APF to be a growth focused company, and the way he intends to achieve that is to emulate the successful precious metals royalty and streaming companies who are constantly replacing resource and reserves through new deals.

The rerate here largely depends on RMM not needing to continually tap the market for funds. The production costs of $5.83/lb announced in today's results certainly won't help the cause. Of course, these are 2021 numbers, but it all really depends on how well RMM have costs under control now.

Dividend will be 1.75p on a quarterly basis. Personally can't see that changing for quite a while. Company focus is switching from paying a chunky dividend to one of growth. Still way above average in the royalty and streaming space however.

Tipped again in the IC

https://www.investorschronicle.co.uk/ideas/2022/05/09/profiting-from-high-commodity-prices-and-inflation/

Of course, within the Nomad portfolio was royalties on Blyvoor, Greenstone, Bonikro and Mercedes - so success in the Nomad (soon to be Sandstorm) portfolio will be somewhat reflected in the gold offtake income for TRR

Yes MS. I've been holding Nomad for a while, so now my SSL holding is going to be somewhat supersized. Pleased though for SSL. The Platreef asset in particular is very significant. One I'll be holding for a very long time.

Excellent update. Blyvoor and Bonikro ramping up so those, along with the $3.7m due from Mercedes, will make the next Q look even better.
Plenty of firepower for additional royalties and streams

A small time punters comments on this BB will have absolutely no impact on the share price. Filter or simply ignore those bitter/twisted individuals who seem to want to see others fail just like they have.