Member Info for hxulcolrdoh

I'm not up to speed with the NCCL proposition. Maybe somebody can educate me. Thanks in advance.

Which applies A) or B)

A) ....
Is a new transmission predicated on a non existent but potential new power source ? ( a power plant built by NCCL and fed by a coal mine )

Is a potential new power source predicated on a non existent but potential new transmission line ?

If so how does this get into the air? If I was government functionary I would only go as far as providing a commitment to deliver the transmission line once the mine /power source had been delivered and I'd have thought it took a lot longer to deliver a power source/mine.

B) ...
Or is the transmission line independent of the new power source/mine ? In which case as a private sector party I'd sit on my hands until the transmission line was in place and an off take agreement had been committed to.

Good luck to all at APF.

Maybe I'll revisit at the end of the year in the hope that there is some clarity. "Mining income without the mining" is appealing concept but I'd need to understand the risk and rewards. At this point (personal opinion) I think APF are over committed and over exposed to Voisey.

Looked up Franco Nevada ( APF lament that they are not favorably compared with them)

Franco Nevada have approximate 400 assets. Of which approximately 100 are in production, 50 are in advanced development, 250 are in development.

Doesn't seem like the same business model at all.

Largo resources looks interesting - in the same way that BMN looks interesting.

Although vanadium prices are currently under the kosh IMO the future looks rosy. Pity APF only have a 2% royalty exposure. Anyone care to put a NPV on it ?

Still don't understand APF. If I think of a royalty stream operation I think of an 'angel investor' to those in the mining sector where in return for pump priming a project that might not otherwise get into the air a generous royalty stream is delivered.
from a successful project.

Then I look a Voisey bay - it is run by Vale. Vale don't need any help. Can't find much detail on the mine finances AISCs etc. It seems to be primarily nickel copper. The open pit is end of life so they are moving underground which will hopefully keep things going until 2032? The mine is fly in fly out. No road or rail. Presumably shut in for a large periods of the year ? The ore is shipped 1000km to Long harbor for processing? Presumably it is not that economic which is where selling the cobalt by-product comes in. The cobalt stream seems to be a hostage to quite a few other things. Seems like a odd project to have blown a major part of the war chest on

According to Petra Diamonds in their latest RNS

"On a like for like basis, realised diamond prices increased ca.12% from those achieved in H1 FY 2021. "

Will be interesting to see what GEMD say

Actually there is a much better presentation here but it does require an email registration

https://www.investormeetcompany.com/capital-limited/register-investor

https://www.capdrill.com/news/interview-with-jamie-boyton-fy-2020-results

Believes his own blurb - bought £146,250 worth @65p recently

https://www.londonstockexchange.com/news-article/CAPD/director-s-share-purchase/14913002

Watched the presentation - thanks Cacher.

Still getting nothing but a lot of noise and flannel. Treger seems like a weak/wet pen pusher who never leaves his desk and probably lies awake at night stressing about how many check boxes he has ticked. The disease of the age seems to be say or do nothing that anyone anywhere can take offence at. Treger seems to suffer from it more than most.

If I look at the recent results then across the board existing streams are in decline and/or taking impairments. They have been less than 'transformational'. Now the eggs in the basket have been rearranged. The new basket features one very large recently added egg - a mine with industrial relations problems that has been in care and maintainance for years where the 'transformational' stake has been sold by private equity (why?). 1:18:30 into the video - APF are prepared to spend 230m to acquire a royalty stream (fingers crossed) of 23m p.a. Keeping the maths simple they might be in the money in 10 years (or cobalt prices might go ballistic)

I'm having difficulty convincing myself that APF deserves a market cap of nearly £300m never mind 'transformationally' more.

I did have some chips on APF but decided during the week to move them across to CAPD. I understand/believe their story - there is a gold/mining rush happening in Africa. Whether the miners hit pay dirt or not CAPD will hit pay dirt selling them shovels.

In the short term APF only seem to be in the position to offer buzz words "ESG", "Transformational", "Green Energy", "Blah Blah Blah" ...

They are very much between horses. Worth watching. However I think I'll wait until they "show me the money".

Note Aberforth have increased their position from 10.04 -> 11.18%

Barclays think you should (not that I'd place much value their opinion one way or other - see GEMD Share news above )

BARCLAYS RAISES GEM DIAMONDS PRICE TARGET TO 80 (62) PENCE - 'OVERWEIGHT'

Petra are up to their ears in debt - almost make Premier Oil look responsible

Should there not be a 'significant event' that makes everything come out in the wash ...

I'm not sure what conversion of the loan into $750K of NGP stock where NGP is a wholly owned subsidary of NCCL means.

Can someone educate me. Does it mean

- ownership of NCP transfers to another party ?
- dilution of NCCL shareholders?
- something else?

If they paid it off in 6 equal payments of $108k (I doubt if they can) - then this would equate to an APR of about 97%.

Would it not be cheaper to put it on a credit card ?

How does NCCL propose to pay for their random Solar power project?

They have to pay the capital $500k + a $150k coupon within 6 months.

Presumably this is where the "Lenders right to convert the Bridge Loan into equity of NGP with a coupon of 50% should NGP default on repayments" comes in ?

re original post ...

or maybe they won't be able to eek out some breathing space in Kenya

Agree interesting video on potentially interesting company.

Company strategy is clear enough. Numbers / projections / guidance is a complete fog though. Possibly the fog will lift to reveal a pleasant landscape ? We just know where we have been and know that we are going to end up somewhere different. Treger himself isn't much help. All I'm hearing is a lot of guff about how we are working towards shining new ESG credentials

I'm on the sidelines re NCCL having previously sold out a small position

The 'news' isn't really news ..

- "negotiations continue" zzz..zzz..
- another 4m odd shares having been issued to add to the 370 current in circulation

Back in August Treger didn't seem that enamoured with cobalt ?

https://youtu.be/n67fFE9sW7o?t=963

Thought (probably correctly) than vanadium was more interesting

BSE 's main mine in Kenya is end of life. They might be able to eek out some breathing space by processing low grade material there. However they will tread water or sink unless they can make progress in Madagascar.

But Madagascar being Madagascar who knows when that might be. It is not a country known for competence, governance or planning. It is riven with sectional interests.An agreement with an incumbent regime could be torn up by a new regime. BSE have already experienced such issues.