Member Info for ICB888

Up 26.26 % at 0.25 on volume of 50 million.

Now Up 17.7% at 0.2325 on volume of 35 million. Market finally waking up.

The large Buy Trade of 3.7 million at 16.45p has appeared again exactly the same size as the one reported well after the close yesterday. I assume it’s the same trade. Advfn have reported it as a buy 3x and are showing today’s volume as over 11 million which I am sure is not right. Can someone familiar with the antics of the stock exchange clarify what is going on.

Meanwhile back in the real world CHAR is currently experiencing lower volume than we have seen for some time. This seems rather strange after yesterday’s large trade at the end of the day, when the volume was already 1.3 million before that trade. As I write 3 large identical 3.7 million trades have just appeared.

That last trade a Buy of 3.7 million shares at 16.45p is a serious vote of confidence costing £615,000.
Clearly the intention of the recent roadshow was to bring in II’s from Europe and North America. If this is the first of those II’s that will be good news. Let’s see if the market reacts favourably to this in the morning as news gets ever closer.

I believe that Simon Thompson headlined his article on 3rd February “Good news will boost this Green Energy Company” because he believes that news is coming soon. He went on to make it clear he was referring to Anchois news:
“ In the near term, newsflow from Anchois is the key share price driver. That’s because Chariot’s 75 per cent working interest in Anchois’ 2C resources accounts for 44p a share of Cenkos Securities' target price of 63p (using a 50 per cent risk weighting and based on a risked value of $507mn). Positive newsflow on debt funding and commercial offtake agreements at Anchois would de-risk the investment case and warrant a material narrowing of the share price discount to Cenkos’ target.”
Simon has a good record of putting out articles not long before the event actually happens.
A recent example is an article Simon wrote on 30th January entitled “ More Good News to come for this Commodities Royalty Company” . The company he referred to is TRR and yesterday a US court ruled favourably allowing what will be the largest lithium mine in USA to commence construction.
I believe we are all expecting Anchois news very soon and Simon Thompson shares that view.

Simon Thompson wrote the following about Thacker Pass in a buy recommendation on 30th January when the TRR sp was 55p:
“I also anticipate positive newsflow from Trident’s other valuable major royalty, the Thacker Pass lithium open mine project in Nevada, one of the largest known lithium deposits in North America. It is a critical project for the US to establish a robust battery metal supply chain and represents a cornerstone asset for Trident. The group holds a 60 per cent share of the 8 per cent GRR on all mining products generated from Thacker Pass, reducing to 4 per cent (so 2.4 per cent share for Trident) after royalties of US$22mn have been repaid.

Lithium Americas, the project operator, has the right to reduce the GRR to 1.75 per cent (1.05 per cent attributable to Trident) by making a buy-back payment of US$22mn (US$13.2mn to Trident) at any time. Clearly, Lithium Americas will do that before production commences. That’s because the lithium carbonate equivalent (LCE) price has risen more than fivefold from US$12,800 per tonne when Trident acquired the royalty in March 2021 to US$66,000 per tonne, driven by insatiable global demand for the battery metal.

Bearing this in mind, Lithium Americas has been moving forward with construction of the project, targeting annual production of 40,000 tonnes of LCE in the first phase, starting in 2026. It has also announced a joint venture with motor giant General Motors (NYQ:GM) to develop the project, the latter is making a $650mn equity investment. The only hurdle now is the consent of the US Federal Court. Given the history of the case, it should be forthcoming, thus enabling investors to focus their attention on the hidden value embedded in Trident’s royalty. Tamesis has made a stab, valuing it at $151mn (£121mn) on an un-risked basis, or 41.5p per share, a hefty sum for a £163mn market capitalisation company. It looks conservative given that Trident could be making $55mn in annual royalty earnings (post royalty buy-back) in the first phase alone.



Upside potential
Trident’s share price has risen 50 per cent since I initiated coverage 15 months ago (Alpha Research: 'A lowly rated commodity and green energy inflation hedge’, 1 November 2021), during which time the FTSE Aim All-Share Total Return index has lost 29 per cent of its value. Favourable court rulings on both Sonora and Thacker Pass in the coming months are likely to be strong catalysts for a re-rating, as is the resurgent gold price. Buy.”

This is the key part of the summary at the beginning of the judges ruling:
“ The Court has also determined this is the rare case where remand without vacatur is appropriate primarily because the records suggest BLM could fix the error the Court identifies and Plaintiffs fail in their other legal challenges to BLM’s decision to approve the Project. The Court will remand for BLM to fix the error—to determine whether Lithium Nevada possesses valid rights to the waste dump and mine tailings land it intends to use for the Project. But the Court declines to vacate the ROD pending BLM’s review of the mining plan of operations portion of the Project.”

Essentially the Judge is saying the Bureau of Land Management has the ability to fix the error. It is within BLM’s power to determine that Lithium Nevada possesses the right to the waste dump tailings land. Once they do so the project can proceed.
This is very good news and it’s just a question of how quickly BLM fix the error. I look forward to a statement from Lithium America.

The improvement is only relative to some very low volumes in recent weeks but we have to go back to 17th January to find a higher volume. It’s time we had an update and perhaps investors are expecting it soon if we see a higher volume week.

URU is currently Up 33% and top of the Leaderboard on very low volume and a very large spread. The move presumably relates to its largest investment ZEB Nickel moving Up 18.92% on Friday. It will be interesting to see if ZEB Nickel is going to have some good news in the near future.

This is the sixth IC Article on CHAR in the last 12 months all very positive.
The Forecast section on the IC website relating to CHAR states:
“ The 4 analysts offering 12 month price targets for Chariot Ltd have a median target of 55.58, with a high estimate of 64.71 and a low estimate of 51.44. The median estimate represents a 257.45% increase from the last price of 15.55.”

The conclusion of the article:
“ In the near term, newsflow from Anchois is the key share price driver. That’s because Chariot’s 75 per cent working interest in Anchois’ 2C resources accounts for 44p a share of Cenkos Securities' target price of 63p (using a 50 per cent risk weighting and based on a risked value of $507mn). Positive newsflow on debt funding and commercial offtake agreements at Anchois would de-risk the investment case and warrant a material narrowing of the share price discount to Cenkos’ target.

Although Chariot’s share price has drifted since I last published an update five months ago (‘Profit from climate change’, 14 September 2022), the holding has still delivered a 428 per cent return in my 2017 Bargain Shares Portfolio. There is scope for significantly more capital upside. Buy”

Just thought It would be useful to repost the conclusion of the IC article which the usual suspects are attempting to bury with their endless drivel posts.

Well it doesn’t seem obvious to the market judging by the current sp. It is therefore appropriate for an analyst such as Simon who has followed Chariot for years to remind people of the excellent investment case . I am pleased that you agree it is obvious that there should be a material narrowing of the share price discount to the Cenkos target of 63p.

The conclusion of the article:
“ In the near term, newsflow from Anchois is the key share price driver. That’s because Chariot’s 75 per cent working interest in Anchois’ 2C resources accounts for 44p a share of Cenkos Securities' target price of 63p (using a 50 per cent risk weighting and based on a risked value of $507mn). Positive newsflow on debt funding and commercial offtake agreements at Anchois would de-risk the investment case and warrant a material narrowing of the share price discount to Cenkos’ target.

Although Chariot’s share price has drifted since I last published an update five months ago (‘Profit from climate change’, 14 September 2022), the holding has still delivered a 428 per cent return in my 2017 Bargain Shares Portfolio. There is scope for significantly more capital upside. Buy”

If AEX holds the current 4.65% gain today , it will close the week Up over 12% which is a positive end to the week. News cannot be far away now on 3D Seismic and drilling. The 52 week closing high of 1.27 was set on 14thOctober 2022 alone would expect a move back to that level as news becomes imminent.

There have been 10 project update RNS’ already in the first 5 weeks of 2023. Looking forward to a very positive 2023.

Another RNS today. The news flow here is strong and should be reflected in the share price before too long.

It states:
“ Shares in the drugs maker Scancell Holdings jumped
Ip, or 4.9 per cent, to 20¼p after it appointed Dr Jean-
Michel Cosséry as its non-executive chairman. Analysts
at Stifel said that his 25 years of experience in the
pharmaceutical and biotech industries should help
drive its immunotherapy product through clinical
trials.”

Scancell is mentioned in the Market Report in Today’s Times Business Section.

Gold has just broken 1950. Gold stocks should reflect this tomorrow including CNR perhaps!