Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
I think if you start to DYOR on what the board were saying last year is beginning to stack up why the price is starting to move north. The board value our stake in Etinde at $150m but they recognise the gap between current market cap of £5m and the £150m needs to be closed. I think this could well be the start of that gap closing event. Here is their statement - “On the basis of the detailed examination undertaken, the Board felt justified in maintaining the investment case for the Etinde valuation in excess of $150 million and hence concluded that no impairment was deemed necessary at the current time. The Board feels that with the evolving macro and geopolitical environment, the revenue and cost assumptions of our recent financial modelling, and the high calibre JO partner, the Etinde valuation now has a stronger underlying hypothesis. We acknowledge that the current capitalisation falls well short of these levels and that the Board's challenge into 2023 is to close this gap.
Bowleven [LON:BLVN] was up 67% at the close, having seen some very heavy buying in the latter part of the session. The one-way traffic drove the spread out to 20% and whilst there’s no firm news, the underlying has pushed to fresh highs for the year. There are a number of potential high profile events which could lead to a significant rerating for the stock – is something looming?
Https://twitter.com/richard_corsie/status/1681381518554411008?s=20
Meyer says in todays interview he is aware of talks for both LC and Redmoor and sometimes its just as easy for the other party just to acquire the whole entity. Now thats an interesting comment coming from our NOMAD today
It would be nice if the Daily mail expanded further on the BP deal in the weekend press
Current market cap is £20m Vs £103m valuation according to the Daily Mail. This suggests share price should be around one pound. Have I missed something ?
In todays Daily Mail - shares in investment firm I(x) Net Zero rocketed after Wastefuel, its largest holding, got £8million from BP to develop factories around the world to turn waste into biomethanol, which may help decarbonise the shipping sector.
As a result, the value of its stake in Wastefuel almost tripled, to £104million.
Its portfolio is now worth £117million - up from £50million at the end of December last year.
Shares, which floated at 76p last year, surged 91.4 per cent, or 12.8p, to 26.8p.
I consider that the developments around Redmoor and the potential commencement of a second income stream will see a significant improvement in the market's perception of the value of the Company and I look forward to working with my fellow Directors and the staff of the Company to ensure that the 2023 financial year delivers.
During 2022, SMG continued to work with the court appointed receiver for CV Investments ("CVI") in relation to SMG's arbitrated $21.9m claim against CVI, for their unfulfilled sales contract. Disappointingly, the likelihood of recovery on the claim has been significantly reduced due to CVI's assets being considered as "proceeds of crime" and, therefore, their distribution not being subject to normal creditor/equity standings. Post financial year end, SMG has agreed to reduce its claim to costs and anticipates that there will be a resolution for a considerably smaller amount in 2023.
The Company's strategy to focus on metals and minerals likely to benefit from expected supply and demand imbalances has been validated in both 2022 and early 2023 as commodity prices, especially for copper and tin show strong growth and have market analysts predicting even stronger future price growth.