He did spend 1 million pounds at 5p 10 years ago after benchmarking this against the boliden project though. So it's a very valid point. He assumed at that point he would make very good money on his investment and now 10 years later I'm sure he would want a lot to show for his patience. It is worth talking about because he is our largest shareholder and therefore largest say in what is acceptable.
You have to really understand how high the palladium price is too. Our profits on first year production where expected to be 28mil. It's now 100mil+ just because prices have improved that much. $240 million the sa mentioned plus 70% increase in palladium means much higher than a 70% increase. That's 400mil just on 70% but really it's a multiple of 70% and that's just the 2Moz.
And don't forget he has given away quite a bit of his holding recently.. NN have published a report saying they see palladium going much higher and have concerns over supply etc. I worked out from some of their figures they would be prepared to pay $400 per ounce. And that still gives them nearly $1000 per ounce profit after mining costs...
I can see why people don't believe because I don't to some extent lol. In my head when I'm planning my month long break in a 5* in Barbados and all the other bits and bobs I'm using 10p as the figure. But everything does point to much, much higher. At the end the day we have the best people in the world working on selling this and it will go for a great price whatever that may be. Suschov, cs, the banks are as good as it gets and the buyers obviously will know exactly what they are doing so I'm really happy with what will be will be.
Yes but this is an ever decreasing supply of ever rising in price palladium. Compared to gold it's like some ridiculous levels of less supply. You just can't find any unless you buy us or spend 15 billion on a JV in the artic lol.
So NN turn round and say 2.5 billion are you having a fecking laugh your mcap is 100mil. We say ok fine we'll go talk to China and legeso. Our mcap won't even come into it. It's what the palladium is worth to the buyer considering their is only a very small supply left and ever getting smaller and most importantly what it is worth to keep it out of someone else hands.
I'm not talking ground asset value. Im going with 2Moz highest price, some value for the 13Moz and haven't included the 25mil on top of that although you probably should include a small amount per oz for that.
I don't see how the sp of this share last month affects the asset value of a palladium mine. Well I sort of do, I've been expecting 10-20p in my head. But if you actually work out what we have etc it is that sort of level.
Think it's too early for MT flanks approval. WK is much more likely for flanks approval, drilling or c1 reserves all expected this year I believe. Although I think I may have heard something about fast tracking MT flanks.
Good luck buddy, this is as good a chance to change peoples life's as it gets. Don't waste it for beer money. Sometimes you just happen to be in the right place at the right time and palladium flying has created that opportunity.
I've watched almost every interview eurasia have done but shockingly have never watched the churakov interview. So I'm about to sit and watch it with a glass of whiskey in preparation for a big day tomorrow.
You can tell because when it hit 4p sells rained in and usually it would pullback but it didn't the mm's just happily took all the sells they could get. There are definitely some big pockets loading up.
You have to remember this was doing 70% per day back at the time of the last interview. Things are much more solid now. Although if he does hint that the sale could take a few months then I can see it going back to maybe 3p and then building again from there. At the end of the day, if it wasn't all rosy they wouldn't bother doing an interview.