Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
Have you included KML private Co in that? We have put about 6m usd in that
No chance they could afford MTR NSR uncapped royalty .
I think this is a great move for MTR. Despite knowing that SFR will have exploration news coming up on A4 and decision to mine. The judgement is that SFR won’t go up as much as Trident will .
SFR share price and The type of shareholders It has tend to be more dividend driven and Cu price driven. I think that was shown by the SFR share price barely moving on the A4 news.
SFR as they drill out the resource will be going into a slight orphan period as it develops Bots and BB
A4 news for MTR will have much bigger impact as it will start to give figure for our NSR
So MTR have invested in Trident relative first mover in London re royalties and streaming.
The key for me is how much they have raised. They have Lim on the register (MOD) and Ashanti and Tamesis as advisors - big league with links to MOD, SAU MTR in the past. So I would imagine that there are big backers of this, the money raised isn’t retail PI.
So I envisage some great deals rapidly coming as Co’s struggling across a range of metals, they will then leverage some of those as is the norm to get more deals. Snowball effect.
It’s a good diversification as well from the other early stage exploration that MTR are involved in.
Fortunately CBE have funds for 2 years so they don’t need input , clearly these interested parties understand the potential
2 Cu companies and one offtaker, already in contact after the results so far. Very good sign re Cobre
As I have just mentioned on Twitter Cobre have already found VMS and have 8.5m AUD. Neighbours in Perrinvale haven’t found VMS yet and have far less cash. Very tight register. I agree has amazing potential and will be a fast mover if the MLEM and subsequent drilling show multiple VMS and increased size.
Some brief thoughts on share prophets conference presentation
KML: holes done so far really are ‘strat’ holes to understand geology. Add that to the EM data and with the new findings from reinterpretation of EM data from SFR that I would expect the holes after the strat holes to be more significant.
CBE: are going by the play book. Initial Diamond drill holes so geo can look, do DHEM and MLEM and fixed loop , combine that data to plan out the aggressive drill campaign for next stages. I would guess from timing that the MLEM is about finished and drill ready to go once interpreted
SAU: more interested in the exploration than the mine in a JV with BMV. Given the activity from Barrick and Newmont in Japan via Japan gold and Irving resources they may be some interest in SAU if exploration goes well. The size of prospects are huge and they are pretty much the sole Co working.
The importance of Doug Kirwin ex Ivanhoe and the respect he draw in North America was highlighted
Interesting,y the BMV interview suggested that news imminent re funding for the mines
SFR: MMc said the Most of work for DFS will apply for A4 etc just need metallurgy, geotech, infill
Comments about the “kinks” after relooking at AEM data, shows breaks in the conductor are indicating where mineralisation has broken through which gives these near surface domes. So they are rebooking for these kinks. KML doing the same.
Under A4 MMc says 12 holes await assay should be “hopefully they will be out out imminently” that would be good if SFR don’t wait for next quarterly.
Also 6 holes started not completed d2 Covid
I don’t post much but just posted this on ADVFN so thought I would replicate here.
I have been doing a little research on $CBE Cobre ASX. They already have known VMS with excellent grades and the DHEM is very important in finding VMS’s so the data from that looks very exciting with late time conductors being significant. Now the question is is it graphite or more of VMS system the conductors are highlighting? The team doing the work Vortex Geophysics helped SFR in 2015 find their Monty deposit . The initial hole didn’t find the motherland. After the DHEM they found an off hole late conductor and the deposit was found. The neighbouring licences of $DRE and $TSC haven’t drilled any VMS yet. So $CBE prime position with $8.5m AUD left from they impressive oversubscribed raise by some big names
Yes Cobre and SAU not hindered from a drilling perspective . transportation of assays I am unsure
PAM IPO May/June as per proactive interview today.
Because they don’t need to announce sells to the market if not TR1. GGP set up a block listing re warrants so they don’t need to announce every time someone converts warrants. So clearly they have sold some, at some point. The warrants have disappeared of their investments page so I reckon they have converted them .
The thing about the relatively disappointing buy out price of MOD by SFR; is that if MOD had concentrated on wider exploration rather T3. Something I wanted to happen. If A4 was found, there is no way we would have the 2% NSR with no buy out or cap. We now have the potential for a Cu district with 2% NSR. Plus KML if the drill hits.
So the NSR is dependant ( unless bought out early by royalty Co) on SFR going into production and making decision to mine- well the economics were pretty good before, they are looking even better now satellite deposits will feed into T3. SFR say in interview that they are looking at moving the modular processor to 5.2mtpa. This will all come out in the new DFS.
SFR need production before Degrussa ends.
Will they get mining licence - well that’s the big one but the Bots gov have been very supportive, SFR in the Q&A say much simpler process than Black Butte, and v supportive. But that’s one of the reasons you put on the 5% discount.
This is before we even look beyond A4 and of course the KML 2% NSR but clearly KML needs more work but I hope has been informed by the new methodology of SFR EM reinterpretation
Michael in proactive interview uses 5% discount which I assume drops off when in production.
So 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.
I think it’s quite hard for investors to understand the NSR. This isn’t like investors looking at potential numbers of the value of in ground metal and relating to share price. This is real and won’t cost anything for MTR to get -no exploration or production budget.
So there will be value before production, royalty companies try and get these early, but the closer to production the more value.
MTR did reinvest again in GGP after the initial stake, that PJ and Terry sorted. Artemis did have a recent fund raise of 2m so it’s possible that MTR took part. I agree more likely mark potter involved for financing , as Mark also involved with SITA a private investment company.
What could be the reason the company has been in a closed period and couldn’t announce next step of buyback? You kidding right? The company has announced 2 bits of information that would put them in a closed period just this week. SAU and KML.
3 released same day post placing
21.8.17 crossed boundary received 23/8/17 Tr1 Gati. On Pembridge website.
Sorry £200k 23/8/2017 holdings RNS after placing