Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Still have plenty of cretins selling in size unfortunately, almost like they wanted a finish below 8p bid. Who on earth is so desperate for £250 they hit the bid with a 3k share sell? If so desperate why wait until they had to hit the bid? Don’t they think their remaining holding would be worth less than the £250 they got for that sale if they’d reduced bid? Absolutely clueless…
Mms have to fill an order at 30,000 (market size) at quoted prices. Fill and kill is the function I use with HL, if they come back and say no then I’d suggest pointing out to HL that 30k is the “market size” and mms must fill. Maybe they’ve a newbie that doesn’t understand that or is too lazy to phone the MM to force them to fill
Surprised he didn’t reply “look at HMI”. Think they can do decent PR when something to talk about, just a shame they don’t do a small amount between the big news items to help remind PIs. They should know not fo underestimate the laziness of the average PI, perhaps our efforts have warped their view on that ;)
Obelix - I understand selling less. Holders you’d hope (bar short term traders) would have done enough research or seen posts helping them out together stays coming. Without PR it’s much harder to attract new buyers as they’ve nothing to attract them in. Most our networks are already aware of Jangada aa we’ve been banging on about them for years now! Recent interest in vanadium plays has helped, but until news lands and PR starts back up then don’t think much of the market is even looking..
Markets very much asleep to us Obelix and what’s coming.
1) Produced resource reports and PEA to NI43-101 standard not jorc. NI43-101 being requirement of Canadian listed companies such as Largo
2) Amended our financial reporting dates to 1st Jan-31st December. Makes any future financial reporting easier for partner if using same dates..
3) Use the same mining consultants GE21. Largo will have confidence in any economic report.
4) Bringing the Tio2 into economics, just shortly after Largo have done exactly that
5) Brian McMaster states any form of further benefication will require offtakers and industrial partner
6) Largo on record as saying biggest risk to their battery plans is lack of vanadium
7) Largo recent crux interview - they state they will be helping other companies into production
8) As per December RNS we are being seen more as a battery play, not something that can be said about an iron/vanadium concentrate supplier. Recent Largo focus is on vanadium for batteries
Jangada could have produced DFS for a Direct Shipping Ore operation last year, they’d even been in discussions with plant producers on quotes for the limited plant required for such an operation.
Jangada have the environmental permit issued last October, only stage left is an mou with state Governor on intended operations. Fact they’ve not done that yet suggestive didn’t want to commit to the DSO as wider operation now more likely.
Talks with parties been ongoing since Q1 2021 and further advanced on MET tests completed in August.
Very soon Jangada will show their hand to the market.
Further details on largo plans in recent crux interview. 17minutes in references they’ll be helping other projects get into production and battery use expected to be over 30 times Largos own supply.
Wonder who it was Brian references as seeing us more a battery play than just producing an iron/vanadium concentrate….
https://twitter.com/sydenhamtrading/status/1500845204533911556?s=21
Yep, I’m extremely confident. Overall market might be a mess, but commodities place to be in my opinion and parties we’ll be talking to will be more focused on commodity prices and macro rather than what the ftse or otter indexes are looking like!
Zinger - it’s the 3rd party talks holding things up, if that I’m very confident as it’s the financiers who will largely dictate what production route is proceeded with. When you’re dealing with 3rd parties timelines aren’t fully in your control, however the discussions have been ongoing for a while and the Russia/Ukraine situation will only heighten security of supply to the likes of largo and glencore.
Current prices and the ability to proceed with a DSO operation in which capex would be within Jangadas own means will further strengthen our hand at the negotiation table. At current prices the DSO operation would now produce free cash flow of over $40m PA .
I do get annoyed with silly selling such as sells oversized to buys, bid hits or sells below bid!! As I’ve said it can often deter buyers and think most like me prefer buying gradually into an increasing SP.
We need sensible selling to stop it getting too spiky on low volume, for those that need or want to sell then small amounts into rise is great. We all win then.
For now I’m happy that lots buying after PEA are now also in position they’re back above breakeven. That makes for a happy DCAT as post the PEA we’ve had the resource upgrades and positive MET tests confirming higher grade fe content (gets roughly 25% price premium), along with improved macro such as vanadium and Tio2 prices.
We all know I expect/hope bigger things being worked on for project to now be classed as battery metals, something you can’t say if a DSO operation providing a concentrate. Hopefully they break silence soon with extremely positive news on exact route project being taken forward..
Silly sells at end of day, why anyone would sell 83k at 7.02p when 7.8p was paid just earlier this afternoon and buys heavily outweigh sells seems little not well thought. Anyway it’s highest finish since very start of Q4 and sentiment to vanadium exposure stocks definitely improving. Hopefully we kick further north over next few sessions..
BF - just on the Direct Shipping Ore scenario as highlighted in the PEA the additional revenue at current iron and vanadium prices would be circa $18m per annum.
As I said this would be additional I.e. on top of the PEA numbers that produced a 3mth payback.
Ad we’ve discussed though it doesn’t appear we’ll be going down the DSO route with recent comments about being seen as battery focused, battery focused isn’t a concentrate DSO product. Any further benefication adds value and worth, but required financing from partner and offtaker - discussions which have been ongoing for a year and further advanced on met results received in August 2021.
I’d be satisfied if selling continued, but in sensible manner where sell size trades reflected the buys and sold into them. Smashing larger sells just puts off the momentum buyers. We can get good rises with sensible selling..
Glad you found taken advantage. $11.50 per lb for the European vanadium pentoxide now, against a $6.3 per lb figure envisaged in PEA. Iron ore also doing well with the 65% benchmark at $173 per tonne
China buying to secure supplies..
https://www.bloomberg.com/news/articles/2022-03-02/china-moves-to-secure-commodity-supplies-rocked-by-ukraine-war
Silly selling back again. Sooner we clear this idiot that hasn’t learned to sell slowly into rise the better. Was 7.8p to buy 50k earlier. Seller put off buyers with oversized sells and now selling at 6.66p, what an idiot…,
BF - get yourself on Twitter, you’ll see much more than relying just on the bbs. Vanadium is back in focus, it’s not Jan specific. Bushveld (bmn) also up circa 18% today. Obviously fact we’ve news expected soon helps, but it’s the highlighted vanadium price increases attracting interest at the moment.
BF - wider market starting to pick up on recent vanadium price increases and 20% of world supply coming from
Russia may well cause supply shock. It’ll certainly help focus Largo and glencore on future supply security…
Yep, it’s terrible things happening in Ukraine just for Putin to set himself a legacy. Only hope the worst is over quickly with as low as possible loss of life.
Demand for commodities won’t be so adversely affected by a war in Ukraine compared to day loss of demand due to the pandemic which was on a global basis. On the supply side there will be constraints and efforts to source commodities from traditionally safer territories. Mining cos with assets outside affected areas should not be adversely affected, to the contrary the current situation might help those with critical metals.