Member Info for flundra

Whilst there’s no news expected at the moment, it would be nice to get a Christmas update from the BoD. I assume everything is progressing as per the August presentation – that indicates that at the end of Jan ‘17 land acquisition should be complete, and construction and installation started. But given the history of delays, and issues popping up left right and centre, a simple statement everything’s on course would be welcome and useful. SP’s drifted a bit, perhaps because of the silence? How’s it going with the engineering, procurement, water management etc – all on course?

What's he up to?! Isn't it unusual for an individual to be a trustee or nominee for a third party for such a significant holding, if that's what's happening? Lots of personal risk for him at these levels too presumably - hope he's getting a decent fee, and got properly indemnified! Wouldn't it normally be a Baillie Gifford trustee company buying? And what about transparency - to what extent can you hide the real beneficiary's ID, if in the background there's a secret mastermind trying to corner the market in submersible pumps?!!! Summut's most definitely up! I wonder if we'll start to see some delayed trades - this could perhaps be something like an agreed restructuring of interests for say tax purposes, as part of which a trust company is transferring legal ownership to an individual? Pure guesswork. Might explain no significant SP rise?

Anyone know why he's buying? He's really going for it - 5.6% now!! And is it in his personal capacity?! This from Bloomberg: Mr. Richard Edgar Sneller is a Partner since 2004, Head of Emerging Markets Equity Team, and Portfolio Manager at Baillie Gifford & Co. Mr. Sneller joined the firm in 1994, covers the emerging markets, and is a member of the investment advisory group and the emerging markets investment advisory group. He is a Partner and Portfolio Manager of Baillie Gifford & Co. Ltd. Mr. Sneller is an Investment Manager in the emerging markets investment team. He is a Portfolio Manager at Baillie Gifford Overseas Limited. Mr. Sneller is responsible for investment management at Guardian Baillie Gifford Limited and Baillie Gifford Life Limited. He earned an M.Sc. in Investment Analysis from Stirling University in 1994 and a B.Sc.(Econ) in Statistics from the London School of Economics in 1993.

...suggesting HAYT could benefit from Hinckley http://www.proactiveinvestors.co.uk/companies/news/165949/hinkley-scheme-go-ahead-but-which-firms-benefit-165949.html

http://www.telegraph.co.uk/news/2016/09/14/theresa-may-jeremy-corbyn-pmqs-hinkley-point-live/ http://www.itv.com/news/2016-09-14/hinkley-a-green-light-this-week/ Seems like Hinckley C will be green-lighted this week. Opportunities for HAYT perhaps? This from the Nov 2015 RNS: "Additionally, the investment made into the Centre of Excellence combined with the Civil Nuclear Sharing in Growth programme will assist in positioning Hayward Tyler as a provider of equipment to the new build nuclear industry in the UK."

...last para in particular http://www.proactiveinvestors.co.uk/columns/jackhammer/25916/tungsten-companies-riding-out-low-prices-with-confidence-25916.html

...from WH Ireland. Lifted from their report today on REM. Tungsten Tungsten (formula W) has the highest melting point of all metals at 3422°C with a boiling point of 5700°C, equivalent to the temperature of the sun, together with the lowest coefficient of expansion of all metals while being one of the densest metals in the periodic table. It is these basic properties that mean that tungsten is not so easily replaceable in its applications. It has many uses: incandescent light bulb filaments, X-ray tubes (as both the filament and target), electrodes in TIG welding, superalloys, and radiation shielding. About half of all demand is for tungsten carbide, a durable carbon alloy producing what is called “hard metals”. Its hardness and high density also mean it is useful in military applications and its compounds are also often used as industrial catalysts. The use of tungsten is linked to industrial applications means that consumption is heavily linked to global GDP. Major producers are in China (>80% of mine production) and there are only 2 producers outside China which have production >3kt/a tungsten concentrate: at Drakelands (UK) and Nui Phao (Vietnam). However, China consumes most tungsten domestically and is exporting less and less; it’s mines are old, deepening and high cost. Demand continues to grow in North America and Europe and a new mine of >3kt/a concentrate will be required to maintain a balanced market. Europe is becoming an increasingly important source of tungsten. Global production is in the order of 100kt/a WO3. There is no terminal market for tungsten and prices quoted are for APT – Ammonium Paratungstate – (NH4)[H2W12O42].4H2O – the main intermediate material – is quoted in metric tonne units (mtu). There are several quoted reference prices, the European, North American or Chinese (APT) prices. These are general prices and a representative guide to regional supply and demand; however, are all broadly similar and tend to follow the Chinese APT price. We believe the supply/demand picture supports a strong price and we set our long-term price at $350/mtu APT.

This share does seem to be a complete no brainer to me. Surprised there aren’t more PIs interested. The world needs a new Barruecopardo-sized W mine annually to keep pace with demand. Barruecopardo is the only fully permitted and fully funded new W mining project in the world since WLFE last year. Building gets underway shortly, with a short clear timeline to commissioning late 2017. Management are talking in very concrete terms about the timing now. Off takers secured. Mine located in a stable country with a supportive local regime. Phase 2 starting to be tested and developed and looking good. Another major mining project (BKY) progressing nearby to help attract in wider expertise/support services to the area and give synergy. And the SP at junk level. Multi-bag by end of next year imo. Excuse the shameless ramp – yes I’ve bought a shed load of ORM shares, but I do actually believe this!

CEO buying @79pps. Bodes well. He seems to have bought right after the end of the closed period leading up to the results, so is perhaps extra keen to buy. I think it's a cash purchase too, ie not an award under the LTIP or an exercise of options, so even better if so.

http://www.proactiveinvestors.co.uk/companies/news/127823/hayward-tyler-boosts-profits-but-cautions-on-potential-eu-vote-impact-127823.html Finncap re-iterate 113p target

Fair set of results from a very well run company imo. Dividend policy still progressive, which backs up the BoD’s confident outlook. The investment case here is still more about growth than income atm though imo, and the large investment programme and strategic tie ups should translate into greater earnings in time. Whilst HAYT emphasise the US market for anticipated strengthening of performance, I suspect improvement in the O&G sector and nuclear growth in East Asia and India will become more significant too.

Some significant trades going on. Investors positioning ahead of results I guess. I'm not sure how Brexit or sterling's decline against the dollar will affect HAYT. Presumably the hardware exported is sold in sterling, so a weakened pound might help there. Presumably also, lots of income will be in dollars and Asian currencies, which also helps. And how are HAYT hedged? Tuesday should be interesting.

15 years is a mighty long time to be sure. I have the rose tinted spex of a newbie too, but feel it's a good time to get in. On timing, BKY's mining project down the road has already taken 10 years and counting, and that's a very well managed company!! ORM's communication on tenement acquisition/CPO issues has been good imo, certainly in the few months I've been here, indeed better than BKY's. The Oaktree financing has obvious downsides (!!) as you say, and I guess we'll never know if ORM could have got anything better. But ORM and their 2 reputable independent international consultants said effectively that Almonty were lying through their teeth. Professional advice doesn't get much clearer, and also Woulfe had just pulled out of a merger with them too at the DD stage. I'll buy you a drink if I haven't doubled my ££££ by 1/1/18 - can't say fairer than that?! And eat my hat if this is actually a lifestyle company.

Taking ORM's detailed and reasoned 29/4/15 RNS at face value, no one would have touched Almonty with a barge pole surely!!

Another step closer. And in the Annual Report a reminder that just over a year ago Uncle Monty (dodgy as he was) was prepared to pay 4.25pps for ORM. 1.3p today. Good news again imo, with the outlook improving. It's coming.

http://www.proactiveinvestors.co.uk/companies/news/127197/ormonde-mining-posts-profit-after-stake-sale-127197.html

http://www.proactiveinvestors.co.uk/companies/news/127139/ormonde-mining-rejigs-development-schedule-for-barruecopardo-127139.html

So ORM/Saloro have won the law suit (good news), but the appellant can and might appeal again (bad news). And ORM/Saloro are now confident enough to progress some infrastructure work (good news). Delays frustrating but on balance good news imo.

Good find Rivaldo. Some nice uptodate commentary from a cornerstone investor there. Not quite convinced by the choice of cover illustration though - a battle scene from the defeat of the Spanish armada!! Worth saying that the valuation is as at 31/1/16 and seems to be of the 5.06m shares NASCIT held as reported in the Holdings RNS on 18/12/15. I'm not sure if further share purchases have been made since then? NASCIT are closely enough linked to Oryx to require dual-reporting of holdings.

The only comparable I’ve seen is WLFE, where the grades are around .15% – .2% WO3. These ORM headline grades look excellent. Next step is presumably more holes and a feasibility study to give an idea about costs of extraction, processing, refining etc.