The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Lol, Iptuf93, my thoughts too.
yes, there will be warrants to wash thru at sone point ; but if this story plays out as presented, there should be plenty of value on offer here to absorb that and more.
Whilst it always pays to be cautious about management assertions, esp about FO interest, the global backdrop to this makes those assertions very credible in this case, imv.
We will have to wait and see, but the price seems to be firming despite this dilution talk, and EST has not really hit the radar of many smallcap investors yet, as far as I can see.
I will try to read thru the full thing later, but THX have come thru 23 well, and look even better for 24. What we really need now to move the SP, imv, is a clear plan for low cost mine life extension.
There is no reason the SP couldn't double with that in place.
Well, whatever "imminent" means to anyone, it certainly doesn't mean "in 2 months time". "Threatening to occur immediately" is one definition.
Attention is rightly turning to the meeting requisition, but this outright misleading of shareholders is Maxwellian.
Oldslow
"if this is easily processed, IF, then we are a multi biliion pound company on just these 2 small area" Quite.
The market is saying just proving up more and more titanite isn't adding any value at this stage. what the market, and I suspect bigger miners, want to see is the processing proved up. That means a pilot plant ; that means capex. And that means debt and dilution of some sort will be needed towards the end of this year.
If and when the pilot plant proves to work as efficiently and economically as existing processing methods for ilmenite etc, the value here is enormous,
But that "if" remains, and that's what holds the SP back, and imho is likely to do so until the capex is clearly financed, and the product is proved commercial at scale.
Ye Gods, the world's gone mad. Our resident troll gets sensible posts deleted (along with a couple that unfortunately had strayed into abuse) yet the poster who strains all our patience, and has undoubtedly driven sensible posters away, remains.
Much more of this and he'll have the forum to himself.
236k T of copper @ $10000= $2.36B
313k T of zinc @ say $2500= $782m
Total say $3B plus a bit of lead..
Of course, this is still in the ground and is valued much, much, lower by orders of magnitude, plus even that top line market value needs discounting for both time and cost. Our friends in the data room will be busy with their spreadsheets modelling this, which is beyond my capabilities; but I suggest the value of EST even at this early stage must easilt justify AW's assertion that "the value of Verkhuba alone significantly exceeds the current market capitalisation of the Company", reaffirmed when the SP was pushing 3p.
I would expect the SP and Mcap, still only £8.5M, to trend higher once this news gets digested. Not that i know anything, mind, so dyor, etc, etc....
I took the reference to cashflow soon to mean a likely farm in or JV.
Correct on the Jorc, tho, est at 5 to 6Mt on the open pit alone, not the 19 to 23Mt he quotes. And yes, unwarranted assumption on further BHP funding. Well pointed out.
Worth reading. Not a poster I'm familiar with, but he appears to sum up the case well.
https://x.com/GungHoStocks/status/1782146358280888828
Worth remembering AW's words from the 3 April RNS "East Star believes the value of Verkhuba alone significantly exceeds the current market capitalisation of the Company and as such will only consider proposals that offer a fair valuation for shareholders and exposure to the near-term production potential of the Copper Deposit at a time when a multiyear copper bull market is being predicted by most market analysts.and as such will only consider proposals that offer a fair valuation for shareholders and exposure to the near-term production potential of the Copper Deposit at a time when a multiyear copper bull market is being predicted by most market analysts."
That "East Star believes the value of Verkhuba alone significantly exceeds the current market capitalisation of the Company " was repeated on 10April under questioning in the presentation, when the SP was at today's levels.
One cannot place one's entire faith in the words of a CEO talking his own company up, but....that's as clear and positive a statement as I've ever seen other than in the mouths of charlatans and fraudsters....which AW is not. The JVs with BHP etc speak to that , those cos would only partner with a serious operation, imv.
So I'm happy to hold here thru the JORC and beyond. Let's see what happens in midsummer with the FO talks.
What will move the SP, and mb prompt a bid, even, is the offtake agreement that we are expecting to provide the balance of capex funding needed.
Neil has been v bullish over this , painting a picture of ALL having several options.
When THAT news lands, we're off.
You could be right, tho we don't know the budgeted capex on drilling etc across various projects so mb not. I am a little disappointed not to see more progress on Mine Life Extension, but am confident Segun knows what he is doing.
HarChris.....what a contrast to that other place we both post. Very happy with founder's management and delivery here, for me he's earned shareholder trust and deserves a little slack when timescales slip a tad.
Well, 8 days since that last post, and now over 40 days since the VAT refund was declared "imminent". At best, this is creative use of the English language.
At worst, seriously misleading, perhaps bordering on criminally so. Will it ever arrive? Was it ever real in the first place? Who knows?
A useful clarification this morning.
Those posting that they "saw off" the "derampers", etc who queried these things would do well to consider that the RNS refers to previous "ambiguity", which was serious enough that the company was willing to stump up A$250,000 to clear it up.
These things matter ; I suspect that had this not been addressed now, such "perceived ambiguity" (SB's words) could have caused some difficulty further down the line when looking at FO, partnering, fundraising, etc, which could have proved far more expensive than A$250k in terms of delay alone.
Next steps will be further drill results, but the real next milestone for me is the PFS on the pilot plant, and financing thereof.