Member Info for LordMandelbaum

Strong buy at these levels, agreed.

I remember 1SN trading at 5p even after MetalsX had bought 30% @ 6p. We're now much much further de-risked yet once again the SP is temporarily going nowhere. Never look at gift horse in the mouth

The buyback is welcome and is logical with YCA trading at a significant discount to Uranium.

My first instinct was that it could have been bigger; YCA has $100m+ on the balance sheet, so the buyback is only 10% of that, however we have an annual $100m purchase from Kaz, so we're keeping the pennies for that.

I'm invested because Andrada isa tin mine in an era where tin prices are favourable. Unfortunately the execution has been shocking. We're all still guessing why the plant isn't running smoothly. Fwiw my guess is they have been playing whack-a-mole with the various bits of extra kit not combining, but that's just a guess and AV hasn't a. solved it or b. explained it.

I also watched the preso yesterday and my conclusions were: he's severely lacking as a mining engineer if we're this many years into production and the plant still doesn't quite work properly....and he can't present to save his life.

There were barely 84 trades throughout the entire summer months and now look. Exciting times for the tin complex

The Canadian listing closing down will have resulted in many Canadian holders selling their shares, and pressure on the sp. Once this is no longer a factor suspect we will see more upward momentum

Been reading this and the other board for the last 2 weeks or so, thanks all for the discussion, and have been buying the past week.

AmI right in thinking all the news is baked into the share price? Aside from broader macro stuff, is there any adverse way the ESP saga could go that would cause a further sell off?

Agree on the arguments to buy back shares.

What a strange sector; you'd think having Uranium listed as a critical metal would be bullish, but evidently short term general risk-off sentiment matters more... if anything this adds to the case to buy back shares while the shares are cheap

Err... costs have already been published.

Full cost/tonne $19,345, AISC $15,843

Here you go: all explained perfectly in the company preso (n.b. only 101 views on Youtube, staggeringly low)

https://www.youtube.com/watch?v=WqOK5j2FYaA

Some observations on today's news, in no particular order

The reported drilling is bang on what you'd expect - good work, keep going

The grades might be considered low in the traditional sense, but we know that's more than made up for by the simple metallurgy.

Drilling doesn't have to be deep, if each hole only has to go down 150m, the cost per metre of proving up the resource will be very low; significant value will be added

As of 10.30am no trades yet today! (I'm already fully loaded)

Market has this one very mispriced though I put some of that down to a relatively quiet management.

I hope they raise rather than sell some U.

Just to make a point

Read my lips etc

This might just be the world's most leveraged bet on PGMs.

Happy to have 0.75% of my pf in here

Just another average day for 1SN, a director purchase of £103k and nothing else!

(From a happy holder)

Tin price has fallen back below $31k. Not insignificant when you're a higher cost producer

Looking at the trades (yes I know they don't all report in the right colour) it looks like about 15k net sold today. I've added a few on the lower price.

Perhaps the seller/s thinks the RNS doesn't say anything new, also tin grades can sometimes look underwhelming.. just playing devil's advocate.

Happy to add here, Taronga could get very large if they continue to find tin in the other deposits and as we know from the flow sheet, it's relatively easy to mine. I'd almost forgotten about Tellerhauser tbh

My tea-leaves say 2.8p is a key level.

AISC for ATM is high, needs a tin price of over $30k these days to make it comfortable.

Think we're just looking at a stock with very high leverage to the tin price.

Think some of the issue here is the 'flywheel' effect of spot driving SPUT and in turn driving the miners working against itself.

In a bull market all it needs is spot to rise and the rest of the sector rises with it. If spot doesn't rise for whatever reason (apply for your tin foil hat here) then it puts the handbrake on the ETFs (URNM is 25% physical iirc, SPUT/YCA) and so the handbrake gets applied.

Cameco, Denison and Nexgen all went up 5-6% in yesterday's session but Sput backed off. All 3 bits of the complex, physical, ETFs, mining leaders need to fire to get the sector out of this current funk imo.

Really informative analysis, very thorough historical perspective, many thanks for putting this together.

RN... we're in violent agreement about the prospects of the company, I'm just bemused at the lack of noise. I already hold MLX and various other tin miners: wondering if the notoriously unpredictable MLX board have asked 1SN to stay stealthy so they can pick it up on the cheap.

Agree they are undervalued but they are also very quiet and as a result have fewer people buying shares. I want to buy 1SN and have owned it in the recent past but the liquidity is shocking and is the number one thing on my mind when considering which London listed tin stock to buy.

CUSN, ATM & RMR are also listed in London and each 'does the rounds' with investor shows, videos etc etc. The last 1SN CEO wasn't the best communicator in English but at least he gave it a go. I think the 1SN asset (Taronga) is easily good enough to make it into production in the next decade's market but they need to make more of a noise.