The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Interesting research and thoughts on Lockwood and the Mackenzies. Peak may just be a nod to the peak district on Sheffield's doorstep, just a name to go with the Sheffield base. So a nickel project anywhere in the world perhaps? Looks like PNL have acquired something somewhere or have it under contract.
You'd hope they'd be obliged to give reasons, but maybe they don't have to. Bky are rubbish at explaining what all these proceedings are. I thought some sort of court was involved here but maybe it was just akin to a formal request to miteco for it to reconsider on the basis of BKY'S arguments.
Looks like Stewart Leroy Lockwood (a PNL director) is the co sec of Aztec Minerals (mining projects in Mexico and Arizona)
https://www.theglobeandmail.com/investing/markets/stocks/AZT-X/insiders/
It's a game of chicken basically. Wanting to hold and win big with an RTO that'll send the SP ballistic, but at the same time knowing I've got to jump and get out whilst it's still possible before de-listing.
Come on BoD talk to us.
Although shareholders could be stuck in limbo with a solvent de-listing, unable to crystallise a loss, no market to sell into.
We really need to hear from the BoD urgently.
It's been 21 months from the ROC deal collapse, and 4 months from the La Zarza sale and becoming a cash shell. There are just 2 months to go to do a deal/RTO before de-listing. If ORM delists, retail investors want to be well out because it'll be very difficult to sell then.
Shareholders will be getting twitchy. I certainly am.
Do you wait in the hope of a deal, or sell now? The later you leave it to sell, the more risk the price could drop, or it may become impossible to sell at all if there's a sudden mad scramble for the exit.
The BoD need to update the market now.
It's a great undervalued company with many strings to its bow. It's already been given wide exposure to interested potential funders as well as already having secured EU money, Cotec and Talaxis etc. There may be fierce competition amongst the interested funders now! Equity dilution isn't bad if the timing and price is right and it's part of the best funding deal. The BoD is strong, they won't undersell and shareholders should be confident and excited imo.
https://www.mining.com/uranium-price-expected-to-rise-in-2023-on-nuclear-power-revival/
SP continuing north following big jump on ASX. Sentiment improving perhaps. Can't see anything earth shattering in the quarterlies but nice emphasis on nuclear's importance and uptrend in U prices, and moving away from Russian U. Time is ticking down to the election too and there's always the chance the current government could start acting lawfully for once, or maybe even accept they got this one wrong. The court ruling could help if it ever arrives.
Indeed, i believe MKA say integrated DFS is next, as Pulawy progresses, implying perhaps the favoured approach is funding for the whole mine-refine-re-recycle business altogether. Officially at least.
Funding could take many forms though. I wonder if Songwe in particular might be funded sooner as a standalone project. There was a beauty parade of banks at Songwe last summer. We could maybe expect a Songwe BFS.
Yes bonkers SP. Under the radar or out of favour for whatever reason. Has to be a buy now though with a clear steer from the minister that we'll see the win-win MDA within 10 days. And realistically funding can't be far behind. Songwe alone can contribute 2% of Malawi's GDP. It's mind blowing.
It might be that all issues are now resolved and the MDA is in agreed form. The royalties and foreign/domestic bank a/cs and forex issues being the last to fall into place late last week, with no requirement for legislative changes. And that it's only now awaiting sign off by independent international lawyers acting for Malawi. Full a.r.se covering job by Malawi. Completion within 2 weeks. Fingers crossed. I agree at the very least it's positive whatever, and generally we should be happy to wait for a deal that sticks, rather than go for one now that falls apart before the ink's dry.