Time will give verdict, we have assets that are needed, it is just a matter of being patient. This is the accumulation of years of work, and we don’t want to be giving it away through investor impatience. Due diligence takes an age for more complicated deals, especially with a multinational that could last 30 years. The price will drop as we wait, there is nothing sinister, we just have to trust the process. This is my big one, a pension maker. My own fault if I am wrong, but I think the stars are aligned, PC wants it too and is aligned with shareholders with his large holding at an average that is above today’s rate. We just have to suck it up. I am accumulating as I think it is a bargain. The last raise was at .28 and he found investors that believed the story. It is just about when, not if is my view.
Negotiations are taking place, no news is the best news, and I believe the deal will be more material as a result. Due diligence takes an age. We know he is in talks, so can’t RNS anything until signed. We just have to be patient.
With palm oil prices at record levels, with a payment due of 5.5p in December, there is a very good chance that the 17p that is still owed on the pref coupon will come back to investors in June. Now that would be something to look forward to 21.5p being paid. Remember no ordinary dividend to be paid, until they have caught up with the missed payments. All that potential yield, with very little downside risk IMHO.
To inject a bit of positivity, the increase in commodities should feed through into our minerals. Might encourage them to get a move on with signing this contract that is being negotiated. Just a bit longer! It will come and I am sure will be well worth the wait.
They only do the financial figures twice a year, production figures every 3 months. We can only extrapolate out from production and selling prices what we think profits will be. Zinc on a roll up another 3% today, inflation is going rampant. GFM the place to be at this low level of pricing.
Coal price up 12% to $269. It is now getting more exciting with our coal assets. Can LC monetise it? I notice on latest RNS from EDL that they are still having talks with government with regard to power from coal. I know, yawn yawn, but we could have a miracle!
Newcastle coal now up to $228, must make a difference to our coal assets that are up for sale, one would think. But there again, we have only ever bought projects, and never sold anything. The Jury is out on whether the assets we bought could be sold at a profit. The price of coal sure looks good. I wait.
Newcastle coal futures at $218, the highest I have ever seen them, up another 3.5%. If this energy crises continues, and coal remains at these inflated levels, we might have the big boys knocking at our doors! We may get a Stellar turnaround in the share price, and very quickly! It costs nothing to dream, but we have heaps of coal.
RE: C S Project mine licenxe granted 5th August 202017 Sep 2021 09:19
I don’t think it will be another 15 years! But I do also suffer a little from impatience, as I feel confident that the news will be very good for us shareholders. We will then be able to pat ourselves on the back, and be rewarded for our patience. The good thing is that the price of the commodities have gone up since august 2020, and forecast to carry on increasing with the demand for concrete. I hope that fact will help.
RE: C S Project mine licenxe granted 5th August 202017 Sep 2021 08:36
True, but I am sure there are some in the pipeline. Big deals that involve extensive testing and due diligence take a lot of time. We just have to be patient or sell out, simple as that. Constant moaning about the lack of deals grates a tad. We are all in the same boat, including PC.