Member Info for Malik-

You can be as negative as you want but when you trade at c£5m mcap and have
1) a 200Mt Ni resource at the right time with a conditional offtake with with top tier partners in a country an vicinity in which the Chinese (part of the offtake consortium) are already majority owners of a Nickel mine and
2) Won UK capacity markets access
there is only one direction where this is heading…

The issue with crappy AIM is that it’s not driven by fundamentals at all.
It’s not a forward looking market but a backward looking one and on driven by fear of missing out.
So, ultimately as long as shares don’t move the herd doesn’t buy in.
It awaits for the stock to explode up before jumping in.
Position yourselves ahead of that.
Again, it’s a risk/reward play - and this balance is hugely favourable and bullish here.

I would say forget Burwell for the time being.
Focus on what’s likely to change the fortunes of the company imminently really - these are 1) Nickel assets 2) Avonmouth gas peaker.

https://twitter.com/stockboxmedia/status/1508378032234541056?s=21

Great interview with CEO just out. 7:30min onwards for extensive discussions on their Nickel projects.

Key catalysts:
-JORC update WoWo Gap THIS APRIL. - expect resource upgrade
-Mambare lease ANYTIME now
-BFS WoWo couple of months after JORC (ie JUNE)
-North American investment bank directly got in touch with Corcel. Now mandated to bring in high networth individuals to take stake in WoWo. Financing would be project financing.
-Nickel projects economical at $15-18000/t Ni. Vs Spot Nickel currently at more than double that: $36000/t.

Stock implicitly pricing $48-49/lb Uranium vs spot at 56-57 - and while Sput accurately pricing U price.
Arbitrage profit opportunity here.

This is a great opportunity to add. Priced for Armageddon.
Prices-in effectively ZERO for:
1) Massive 200Mt Ni resource - despite Ni prices on fire.
2) Gas peakers at time when gas prices are through the roof and for which one project already won guaranteed revenue via UK capacity market scheme and second to win too at next auction.

Back of the envelope fair value:
1)Avonmouth gas peaker: c£20m (£5m revs per year, at 80% mgn at 8x multiple) - deduct capex
2) Nickel asset at say 5% NPV: £30m
3) Value of other assets: 0
=> Total £50m

Key upcoming catalysts: a) Offtake partners meeting in next 12 days to discuss nickel assets. b) any development on Ni mining leases due anytime c) partner announcement for development of UK gas projects due anytime.

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Focus on what matters.
When results of BFS come out and demonstrate that the shares are trading at 0.5% NPV, this will literally explode higher - of it hasn’t already in anticipation of it!

Liquid Silver.
Your message does not tell me anything about what the value of a) gas peakers and 2) nickel assets are.
This has 10x upside potential to me, so the warrant holder who exercises at 1.6p or 2p is, sorry to say a total idiot.

#MKA @MkangoResources $MKA
Pensana just released revised eco estimates for its mining + separation project.
Readacross positive for MKA.
Numbers point to NPV for MKA’s integrated project of USD1.7bn, when I adjust for differential in pdction and spot NDPR p.

MKA CHEAP at 4% NPV!

Spot on Sniper.
And the conditional offftake nickel is a game changer for company so nice the consortium is made up of really top counterparts.

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1) placing price is acceptable - sets a floor to share p (remember historically they used to raise at 1p and at 20%+ discounts AND have warrants)
2) Pure equity raise size isn’t big c6% of mcap.
3) debt conversion was due end April anyway - just being brought forward (saving on finance costs)
4) Positives are a) Offtake partners meeting at end this month on China to discuss agreement b) launching of nickel bankable feasibility.

Great example to show how deficient AIM is comparing the valuation of lithium stock PREM to Corcel.
Prem £66m mcap vs Corcel 6m.
Prem has 20Mt Lithium resource (we have 200Mt Nickel) in poor if not worse Zimbabwe jurisdiction. Prem at scoping study only. Talks of JV. We have conditional offtake with Chinese co.
Prem valuation based on takeover of nearby Prospect R Lithium asset in Zimbabwe.
Noone looking at readacross yet of the big valuation implication to Corcel of the valuation of TSX listed Nickel 28’s stake in Nickel mine in Papua New Guinea.

I reiterate, CRCL is a 10x opportunity

The upside potential to this stock is so massive that truly, the moves we been seeing in share p so far are really insignificant in the context.

To understand potential valuations for our nickel assets.
You don’t need to look very much further than TSX listed Nickel 28. It’s usd100m company. And has 8% stake ONLY in nickel operating mine in Papua New Guinea (majority owned assets by Chinese group - surprise surprise).
Same size asset as Corcel but at lower 0.9% grade.

* I think

Yep.
Though I the right way to look at it is an NpV number - because by doing what you do you just look at revenues potential.
Nickel was at $80k last time I looked ;)

SEE PAGE 11
For Catalysts.
Plenty to look forward to this year.

I am getting to 10x upside potential in this share.
That’s just assuming they get to 5% NPVe valuation on Nickel assets and assuming 10x PE multiple on Avonmouth. Zero value on anything else.

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