The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Some chunky trades from yesterday there 26m old money , although showing a sell ? Buy perhaps worked order?
Hydrogen perhaps you might be able to enlighten
That’s after someone offloaded 150k ish earlier as well
I think t3 NPV was about $300m. SFR paid about 50% but that was a DFS stage.
It’s an interesting one for mtr /KML as they would have to spend a lot to get to DFS so now MTR have 2% NSR, I think the options are (if they hit) IPO with a mid tier/major Providing cash for equity level, farm in at project level or complete sale - if at this stage but decent hit 20-30m usd would be good before maiden resource. 10% of Potential DFS value. Don’t know if they would get that.
The thing is the NSR Will be greater value than the sale of KML if they have hit.
Yes I would be surprised if there is no Cu. The thing about KML is that they are finding a deposit by the book, stratigraphy Holes rather than Just stick a drill in a sweet spot. My view is that they are doing this and the EM (which was complex) for a wider audience not for retail PI’s. Think that is sensible. Don’t go through bother of IPO if going to be gobbled up.
Exactly that just for a4 . T3 was something like 0.01% of exploration land. Their was plans for t20 drilling and more EM. Now lockdown improved hopefully some update in quarterlies
I think that decision might be dependant on how SAU and CBE develops.
Probably more importantly if KML hits we have that royalty and buy out/IPO
Pan Asia metals prospectus out for IPO in Sept, so if that goes well will help our NAV also as goes from private to listed.
And all without MTR spending a penny.
Question is would we take a large chunk now (given A4 IMO will be 2-3x bigger) 100-150 usd. Or do we keep and let this pay dividends for a very long time.
This is before we have even talked about an underground resource which will come after open pit at A4.
The quarterlies will be very interesting.
Think it’s quite nice now more attention and as SFR aggressively drilling A4 and the new NW area of A4 to revisit some figures I posted re potential. I am sure Hydrogen’s fund contact will be thinking about this upside re NSR to MTR mcap hence why getting in now.
These figures have better upside now the silver and Cu price have gone up. Easy to forget our silver
So again -let’s assume the A4 deposit is the same size as T3. Currently Argonaut note say just on holes we have so far it looks 180kt contained Cu. From EM and new zone found however, and the fact we are dealing with higher grade Cu just the A4 area looks like it will be 2-3x bigger than T3.
T3 conservative reserves ( not inferred resources ) are about 350kt of contained Cu. That will change if SFR has been upgrading resource in time to review the DFS.
So let’s say 7000USD/t for the Cu and silver blend
350kt * 7000 = 2,450,000,000 usd
5% discount
2% NSR
USD 46,550,000 to MTR on equivalent to T3 resource.
Multiples as bigger.
Now there are some costs that have to come off for the final NSR figure- transportation, insurance etc but you get the general picture.
Yes that was the one we’re Rick Rule personally invests as seen on MTR website under RIBO trust
https://www.metaltigerplc.com/investors/aim-rule-26
https://www.metaltigerplc.com/investors/research
This is link to 2 Sprott research notes 2018 and 2019
Yes factually we have
1) Dual drilling occurring/occurred on the conductors highlighted by DHEM and MLEM at CBE. I reckon they are now complete. Pending assays. Sometimes if assays good they have to repeat them. I reckon we will see those over the next few weeks. You know what happens on ASX if you have good intercepts.
2) SFR are drilling hard ( not ramp) can be seen by sat images, both at A4 and this new area NW of A4.
Meanwhile they are adjusting t3 DFS
3) SAU is undergoing drilling, think they announced that results out next week on Twitter.
4) Sprott conference - HNWI looking at and investment opps. Our new geo we’ll know by RR and North America. As is Doug Kirwin.
I would therefore imagine all by end of month lots of news.
I am hoping to start seeing some CBE visuals soon. They were doing extensive RC and DD. Some not too deep. I would envisage if good visuals they might want to release ASAP ? With trading halt.
The hassle of making TO not worth it either, we have enough decent assets. I personally think we are just diluting down to be able to exit at the right price
Remember we on,y put in about 125k gbp as our participation was 250k aud
I think 3 reasons there are tax advantages to being over 10% if THR does turn some of its assets Into something to boost share price.
2 if we have over 10% we can appoint board member
3 we are average down considerably especially with warrants so we are more likely to break even . I envisage we are about 0.9p break even with all the early buying and warrants.
£2.7 million not £ 30 m. I am not against GGP at all it’s a brilliant deposit . But 30 p before maiden resource ? I can’t quite believe that it has current mcap of above SFR a producing mine with stacks of cash and liquid assets. And a Cu district from Bots to Namibia etc.
CBE is a VMS show some scale and you can see what happens to stocks see SFR share price to degrussa and Monty find in early days and recent Stavely. They could 5-10x. I would be surprised if GGP could do that from current mcap ( not withstanding the potential of the deposit).
Just trying to put some context into the comments about GGP.
All you have is the recent accounts. I think from memory it just showed the warrants 9m.
GGP is a great deposit but MTR have made their money in GGP (now a bigger mcap than SFR resources) , they have now put that money in early stage exciting deposits that have potential to do the next GGP.
We have our own NSR 2% over a district scale copper belt. We don’t need to spend a penny to get that. SFR have said they are going to throw 20m AUD at this straight away and have started drilling from sat images. We shouldn’t need news from GGP to get our share price up we have our own Haveiron (just Cu).
I don’t think you can just count KML as zero value . Therefore it should be added at cost at this point.
The capped royalty of $2m usd for T3 is pretty much guaranteed
The value of the uncapped NSR 2% will likely be the single biggest value accretive part of MTR for a long time & a dividend payer.
You currently can’t give a value to the KML 2% royalty.