focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
Resistance!
The only resistance Empire will have is the huge magnetic resistance coming from the asteroid sized chunk of titanium at Pitfield - it’s simply monumental in size & grade.
This is without a shadow of a doubt the greatest prospect on AIM at the moment & thus, the mindset of the typical AIM investor should change from short-term to long-term with EEE.
Generational wealth opportunities come along once in a lifetime - this is it for me after 12 years trying to find it.
Feet up, relaxed & looking forward to 2024. Multiple surprises on the cards with months & months of newsflow (most likely very positive on each occasion)
GLA
ML
Honestly Jambor we’ll never know.
I’ve seen my own trades delayed until after hours but not only that, the time stamp showing earlier that day (posted after hours) which indicated it was a sell, was hours off when my limit order contracted.
One of Empires largest shareholders had the exact same thing happen to him (I saw the contract note) where his trade showed up after hours & again completely out of sync with when he bought and what the sell price “suggested” it was.
I never guess large buys or a sells because it’s too difficult to confirm either way. I also don’t really know why MM’s disguise them as they don’t lead me to think anything one way or the other.
Anyone else know? Seems pointless but maybe I’m missing something.
ML
Also second highest volume day in the last 3 months. Over 200 individual trades. Liquidity is key to the success of most shares.
I expect a move up tomorrow based on the limit orders filled after hours. Empire movements seems to always track 24-48 hours behind market news. Interesting to see what happens after conference visitors assess the Empire proposition.
ML
Https://www.irishtimes.com/business/2023/08/15/kenmare-resources-says-production-stringer-in-second-half/
Again, far smarter people than me might need to do the assessment of potential values but we are still a few steps away from being able to do this however this is the LT plan in a general sense.
Millions & millions of real turnover & profits.
ML
The strong prices that sent sales soaring at titanium miner Kenmare Resources in 2021 have continued into this year, company managing director, Michael Carvill, says.
Kenmare’s revenues jumped 87 per cent to $455.9 million (€413.5m) last year on the back of record production volumes and higher average prices. Profit after tax rose almost eightfold to $128.5 million in 2021 from $16.7 million the previous year.
The company announced a record annual heavy mineral concentrate production of 1.5 million tonnes, 30 per cent more than in 2020. Ilmenite production increased by 48 per cent to 1.1 million tonnes, benefiting from increased heavy mineral concentrate processed.
The company said it had a net debt position of $82.8 million in 2021 compared to $64 million in 2020.
There’s money (real money) to be made in Empire. THIS IS JUST THE START!
ML
Kenmare Resources broke an unusual record in 2020. The Irish titanium miner group moved an entire factory 22km from one part of its ore body in Mozambique, Africa, to another site.
“That was the heaviest mass ever lifted in Africa and the largest mass that has ever been transported that distance by road anywhere in the world,” its chief executive, Michael Carvill says proudly.
“And we had to build the road ourselves, through nothing, through bush. Nobody has done this ever before. Basically putting a factory on flatbed trucks, wide as a football pitch, seven storeys high, it took 48 hours. It took two years’ work and $127million capital expenditure.”
The move paid off. Kenmare’s Moma mine produced 1.55 million tonnes of ore last year, up from 800,000 in 2020, breaking its own record. Revenue hit a record $456 million last year from $243.7 million in 2020
Pretax profits increased to $137.3 million from $22.8 million. Investors should benefit, too. The company will pay them total dividends of 32.7 cent a share, or $32.1 million for 2021, more than three times the 10c it paid for the previous year. It returned $81.6 million through a share buyback scheme in December.
Kenmare have just over 2% grade as far as I can see.
Should bode well for Empire at 4% to 5% with higher grades also intercepted. Maybe Ageos could offer a slightly more detailed view.
ML
Was in communication with SB an hour ago. Now I know people will say ‘that’s no real help to us’ but of course I always try to honour our private discussions by keeping them that way. I’m sure you understand.
He is seeing an increase in Empires market awareness and that’s assisting the support of Empire. The presentations in Oz & Uk have gone down very well.
Mcap position was highlighted and again whilst good to see, he is “FULLY FOCUSED ON ACHIEVING A MUCH HIGHER TARGET FOR EMPIRE & THIS IS ONLY THE FIRST STEP” 📈
Now I know we can’t quantify the value of Pitfield yet and it will take time to define & confirm exactly but it’s like this guys, we don’t know the weight of the oceans either but we absolutely know it’s a monumental figure. The oceans aren’t going anywhere and Pitfield is exactly the same. This analogy is my own words but you get the idea.
I can’t really convey my level of comfort here as a relatively big shareholder (circa 1% holding) but I have no doubts that this 5p marker is the bottom of a very steep upward curve. On a personal note, whilst hitting 30p (for example purposes only) would offer me huge gains I do now believe that a longer hold could create generational wealth. As most know I’m here 8.5 years (checked exact dates on my broker platform this morning) so holding for another 2-3 or more years isn’t an issue for me. The hard work was done buying for years on the down days, now should be the easy times in comparison.
To be clear; my personal communications are general topics of discussion and at no point has SB discussed anything additional to what’s public via interviews / presentations / investor relations via Empire website.
I don’t ask & he doesn’t say anything else which is why these calls / emails work & have done since he joined the company. I find him very pleasant, accommodating but above all, he holds himself & the company to the highest standards of integrity.
ML
As a side note, the 25p per share in 2017 was based on 115m shares in circulation at the time = £28.6m Mcap.
5.6p close with 567m shares = £31.7m Mcap
Make no mistake, today’s close SP is a huge achievement & sets an all time high Mcap for this company. (NMG / GEO / EEE) & it hasn’t even gathered pace yet. Watch this snowball into 2024.
Well done SB & Co.
ML
Redhammy you must be new to this game to make the statement below.
“It matters not a jot what price the placing shares are set at!”
Christ that’s utterly ridiculous & if you genuinely believe this, you shouldn’t be investing let alone giving advice to anybody on this board.
It’s people like you who have led new investors to financial ruin year after year on AIM. Thankfully most can spot someone who hasn’t a clue what they are talking about.
ML
Https://i.imgur.com/d02RF6t.jpg
https://i.imgur.com/qE0zJtv.jpg
https://i.imgur.com/vvaS7wN.jpg
SB is a busy this week & next.
ML
Might I suggest you pay a little more attention next time you attend a shareholder / investor night 4K!
Bring a notepad too as your update was lacking in detail and was very light on opinion.
Anyway, you'll know for next time I suppose.
ML
Great update 4K and many thanks for taking the time to share your thoughts on last night :-)
The time is now Genghis!
Sorry, the time is 2024!
https://ibb.co/Jn227ng
ML
Gentleman Ageos.
To be honest, no panic on a reply but it would be great to get your thoughts when you have had time to assess today’s news.
Have you seen SB’s interview?
Might add some clarity to your own RNS review.
Thanks
ML