Lets not forget that Qatar Airways has a sizeable 25% stake in IAG, they have publicly stated that they will provide a further cash injections to any of their airline investments that they hold (if they need one). While this may be a good safety net for IAG, the question is at what price.
not so sure, almost every other airline has been raising cash or taking a government bailout. It may not be IAG’s choice to raise cash but if revenue does not come back fairly rapidly then they won’t have much choice
Alex Cruz: “The fact is, with almost no revenue coming into the business, IAG’s operating cash burn totals £178 million every week. Others point to the support we have from the UK Government’s Job Retention Scheme. It is very welcome but totals less than two days of cash burn per month as we continue to pay 80% of furloughed colleagues’ base pay without a cap. We are having to take on hundreds of millions of pounds in new debt, much of which must be repaid over a short term, so any revenues we make when we return to flying will be swallowed up by loan repayments.”
This is quite a strong statement from the CEO and in my opinion points to a need for a capital raise to protect the ongoing cash outflows from the collection of IAG airlines
Good article, needless to say there are a number of international trials ongoing that have included Interferon as a main treatment or a complimentary treatment, some of these trials that have already concluded report that Interferon improves recovery rates and reduces mortality rates. This certainly adds confidence to SNG’s trial in producing a positive outcome.
Early days but a very bullish move for BTC, this rally looks far from over. In fact all cryptocurrencies are rallying strongly in recent days, some more than BTC and makes me wonder if ARB will diversify into mining other coins such as Ether. The strategy will be all about ‘mining reward‘ and selecting the most profitable coins to mine.
I believe these new funds will be put to good use right away and will ultimately produce a very good return on investment: “commence exploration at Kash*tu and an initiate an aggressive program of exploration at the newly acquired Botswana copper-nickel-platinum licences”
If this treatment combo shows to be beneficial as part of the large ongoing multi-country trial will SNG stand to benefit?
“It involves the two drugs in combination with interferon beta 1a — which belongs to a class of substances known as cytokines that are secreted by immune cells to signal other cells to act against an imminent or acute infection. It is used to treat diseases like multiple sclerosis. Some studies have shown that if interferon beta 1a is added to ritonavir and lopinavir, there are better results than when the antivirals alone are used.”
JM stated in an interview late last year that he expects a market cap of £100m leading into a financing deal. That’s around 7p level. Thoughts on how this valuation can be achieved ? I believe JM was looking at the Vermelho PFS as one of the catalysts, although the market is not really putting any value on Vermelho tbh. I do hope that JM has something else up his sleeve
Stainless steel is the market to watch (not the EV and Gigafactory battery market). Araguaia will be producing ferro-nickel which is 100% dependent on demand from stainless steel producers. The rebound in China bodes well on this front:
Lockdown easing in South Africa on Monday so likely resumption of activity across the borders to Zambia bringing in machinery for the Sable zinc circuit. Also, I read a report yesterday about South Africa’s Department of Mineral Resources plan to fast track mining rights, so hopefully can’t be too far off from the Glenover mining rights.
RE: Updated Significant shareholders21 May 2020 23:39
Teck is a possibility, they already have a seat on the board, but they have diluted their holdings over the years, so I’m not convinced. I think Orion Resource Partners is another likely candidate for JP Morgan’s holdings, after all they have a vested interest in HZM via the royalty deal last year and I think they want a bigger slice of the pie either now or as part of the equity financing. An outside bet is a strategic investor coming into the mix, such as a Stainless Steel producer.
This is a good update and further de-risks the project. Once the environmental permit has been ticked off the financing should be very close. I think they have options to go with either Taurus or with bank finance, or both. Low capex anyway so should be a formality.
Zinc supply has been impacted by shutdowns, this may very well work out in GLR’s and JLP’s favour as their planned zinc operation is on the lower cost quartile and they will be producing zinc concentrate:
Citi commodities strategist Speaking about how zinc mine supply has been affected by COVID-19 prevention measures, Nugent said it completely changed his outlook for the year. “Before (the outbreak) we were seeing a very big concentrate surplus and a smaller refined surplus, but the surplus has now shifted from concentrate to refined,” he said. “In the past two months, we’ve been running at over 20 percent of zinc units lost on a daily basis.” Furthermore, Nugent believes 4 percent of the total market was lost during the first half of the year. “The challenge now (that lockdowns are eased) is getting back up to utilization and that ramp up process, and how quickly they can do it,” he explained. “One big concern for zinc is the amount of mining that takes place underground.” Nugent expects a lot of mines not to come back as a result of lower prices. That’s why he expects the concentrate market to be balanced at best, but probably in deficit.
I think you’re correct there regarding TW, here’s the title of his post today: “Galileo shares have more than doubled since we tipped them on May 1. But should still almost double again and soon” I haven’t got premium content to his site so can’t repost the whole article, but essentially he’s saying to keep holding for further upside.