Member Info for mike

Ratings agency Moody’s said in a March report that most miners in Peru had survived relatively unscathed from the protests, though the impact would likely “delay mining company permits for projects already under construction.”

https://www.mining.com/web/peru-copper-mines-aim-for-output-boost-in-2023-after-protest-impact-fades/

UK companies have a total of nine initiatives in Peru with investments of US$54mn. Rio Tinto has two projects involving US$32mn, and Hochschild Mining has five with US$12mn. Meanwhile, Anglo American has the Almira copper project (US$2.2mn) in Tacna, while Anto***asta has the Oasis project (US$8.5mn, copper) in Arequipa region.

Economy and finance minister Alex Contreras recently announced on national radio that efforts will be made to clear the excess pending permits in the mining sector by simplifying and/or accelerating procedures, adding that the high number of licenses in the queue was one of the biggest concerns conveyed to him by investors at PDAC 2023.

The operative word- it allows the discovery of new deposits, as well as the extension of the life of operating mines, all of which generates resources for the benefit of the country,” the ministry said in a media statement.

https://www.mining.com/peru-expects-74-mining-projects-to-become-operative-in-2023/

6 March. Taken from an article in Spanish and translated
https://energiminas.com/inmaculada-y-pallancata-hochschild-mining-reitera-su-interes-por-invertir-mas-de-us1300-millones-en-ayacucho/

Inmaculada and Pallancata: Hochschild Mining reiterates its interest in investing more than US$1.3 billion in Ayacucho

Representatives of Compañía Minera Ares, a subsidiary of Hochschild Mining, met with Minister Oscar Vera to express their interest in extending the useful life of its Inmaculada and Pallancata mining units, which would mean more than US$ 1,300 million in the south of the Ayacucho region.

Vera said that mining investment will generate more jobs, better tax collection and development projects in favor of the region, becoming an important tool for the population to access a better quality of life. The mining executives highlighted Minem's support to implement spaces for dialogue in Parinacochas and Páucar del Sara Sara, expressing their willingness to coordinate efforts with the communities and municipalities in their area of influence to work for social development.

In November 2021, to the Financial Time, Ignacio Bustamante, CEO of Hochschild, confessed that the company plans to extend the useful life of Inmaculada for 20 more years, and that they are now waiting to receive the permits. "We have plans to expand [Immaculate] for the next 20 years," he said. In July of that year, Hochschild Mining informed the competent authorities that it plans to invest US$4.436 billion, between capex and opex, to extend the useful life of its most modern mine, Inmaculada (Ayacucho), until 2041.

Analysts at Berenberg slightly raised their target price on silver and gold miner Hochschild Mining from 90.0p to 100.0p on Wednesday as it incorporated higher production levels and lower-than-expected costs into its model following the group's fourth-quarter trading update earlier in the week.

Berenberg stated Hochschild's attributable fourth-quarter silver-equivalent production of 7.0m ounces was in line with its 7.1m ounces estimate, split between 4.7m ounces from its Inmaculada mine in Peru, as well as 800,000 ounces from Pallancata and 1.6m ounces from its San José project in Argentina.

"The better-than-expected production comes from Inmaculada guidance of 16.9-17.5m ounces versus our 15.4m ounces expectation, alongside slightly improved production from the rest of the portfolio," said Berenberg.

All-in sustaining costs for 2022 were in line with guidance of $18.50-19.00 per ounce but below the analysts' estimate of $19.20 per ounce due to its Inmaculada project.

The German bank noted that the company did caution that its guidance was dependent on receiving a permit for the environmental impact assessment at Inmaculada and that, if this was not granted, guidance would need to be revised.

"The permit is expected to be granted at the end of Q1, a minor delay versus previous commentary of within Q1. This remains the key catalyst for the shares," said Berenberg.

The approximate bid price before the previous listing was cancelled was 2p. The current quote on AQSE IS 3p-6p. So with a 2/3 reduction in my shares, I am worse of now . How come

Circular states that each Scheme Share for 0.33507 Stillcanna Shares
Does the number of shares I hold be reduced by a third

They want to reduCe the share count but more importantly also reduce the number of small shareholdings amongst the PI.

Apparently the current edition of the Shares magazine has a write up Elecosoft. I don't subscribe to the magazine but I assume it was positive seeing the recent volume.

Is Elecosoft PLC a Sell? The Stock Reaches 52-Week Low Today August 2, 2016 Richard Conner The stock of Elecosoft PLC (LON:ELCO) hit a new 52-week low and has GBX 16.34 target or 14.00% below today�s GBX 19.00 share price. The 5 months bearish chart indicates high risk for the GBX 13.89M company. The 1-year low was reported on Aug, 3 by Barchart.com. If the GBX 16.34 price target is reached, the company will be worth GBX 1.94M less. The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. The stock decreased 3.80% or GBX 0.75 on August 2, hitting GBX 19. About 31,676 shares traded hands or 88.95% up from the average. Elecosoft PLC (LON:ELCO) has declined 28.18% since December 31, 2015 and is downtrending. It has underperformed by 33.51% the S&P500.

bodes well for the future. www.tevonews.com/industrial-fabrics-news/407-low-bonar-expands-china-textile-manufacturing-site http://www.prw.com/article/20160719/PRW/160719837/uks-bonar-to-invest-5-8m-to-expand-slovak-geo

The price has now fallen below the 20.75p open offer price way back in 2014. Yet we have not seen any director buys apart from Ketelly's original.shareholding. Hardly inspires any confidence in the company. Time to move on I guess.