Member Info for Culpepper

Dividend pay date today. At current price 8.3% pa I think.

The momentum we’ve seen wasn’t about today’s RNS.

And it’s worth remembering what Wyloo originally bought into, supporting the debt provided by the banks against a 2mt pa production profile. And the rest of what was known at that time.

Any revenue from new mines is years off, isn’t it?

It’s Havieron that has the potential to make this company, barring a buy-out.

I don’t think people are particularly bothered about drilling results just now. I take the view most, like me, are interested in Havieron providing the backbone of what might yet come, and by extension the next up news on MRE.

Based on trading to the end of October, we remain comfortable with current market consensus for FY2023 adjusted PBT of £45.3-49.0m on a post-IAS38 basis.

https://www.lse.co.uk/rns/WIX/q3-trading-statement-zs7vtkdnl6g5ll9.html

In my parlance what Blackrock is saying is the PE ratios are too low, and should change.

It’s summed up in this extract.

Sector heavyweights such as BHP, Rio Tinto, Glencore and Anglo American have an average price to forward earnings ratio of 8.5 times, compared with 18.5 times for the S&P 500, according to analysis by S&P Capital IQ and Refinitiv.

“The further you get away from upstream from the renewable power companies, the lower the multiples go,” Hambro said. “But you can’t have the renewable power companies or electric-vehicle manufacturers without everything upstream of them.”

They can pitch it where they want, can’t they, really. But if it suits, they have no reason to stop it running as it stands. I think we’ve been seeing that this afternoon.

If that’s for me, there’ll always be traders if they can. Market makers are just that, pitching it where they can best attract buyers and sellers and taking their cut, and move it according to pressure either way when they have to. Normal thing.

Market makers. Easy spot with both buying and selling, and a little bit, not much, on the spread.

At the moment they must have a little sweet spot, or they’d move it up or down.

I did the booze, but no good for me in the end. So I packed it in many years ago. That’s being honest. We’re all different.

I still go to pubs, all the social stuff. But broke the inclination and habit. Glad I was able to.

Got to wait for enough to say sod it, if I don’t pay 10p plus I might get left behind.

VS. Far too many heavy drinkers on this board. Need to get a grip on it.

That’s not very nice Trippy. But you got form for it.

I suppose, anyway, it would be too much of an ask to expect another 50% rise over 18 months at this stage, so I must adjust my uneducated expectations considerably lower.

Actually, reading back through I’m comforted that one or two others may be as deluded as myself on what the MRE just might pan out to say.

As I have said, and as most will recognise, I know absolutely nothing about mining, so I welcome those comments. Still, can’t see the MRE RNS doing other than good for the share price, unless accompanied by some form of negative comment.

Over 80,000 metres of growth drilling has been completed at Havieron since Greatland announced the Havieron March 2022 MRE (refer to RNS announcement titled "Updated Mineral Resource substantially increases Havieron Resource and Reserve" dated 3 March 2022 for further information).

Drilling since Greatland's announcement of the Havieron March 2022 MRE has focused on:

§ Defining the extents of mineralisation in the lower levels of the SE Crescent (3,600 - 4,200mRL);

§ Resource definition within the lower levels of the mineralised system, with a focus on the Eastern Breccia; and

§ Extending the mineral system below the existing Resource.

The work programmes required to incorporate these drill results into an updated Havieron MRE are in progress, and Greatland expects an updated Havieron MRE to be completed in the December 2023 quarter.

So being two different things, it is your view that the 50% from 2mt pa will not result in a corresponding increase in resources/reserves?

Thankyou.

I view 10p as a bit of a psychological step for pi’s. See how we go today and tomorrow.