Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
Report references positive long term outlook for Nickel for EV batteries and for Pt as part of hydrogen economy but as also Pd for hydrogen storage, transportation and safety:
https://www.londonstockexchange.com/news-article/MNOD/nornickel-reports-full-year-2022-audited-consolidated-ifrs-financial-results/15833419
Starts next week. Can’t see any obvious Russian participants as it’s Africa focussed but it’s a big mining event so may be of interest. Some hydrogen topics on the agenda too:
https://miningindaba.com/agendas/agenda-2023
It’s difficult to get excited about the Japan tweet without an explanation of what’s behind the idea.
What is slightly encouraging is that the LNG and Oil partnership on Sakhalin 2 seems to be operating ok with the two Japanese partners involved and customers in Japan, South Korea and China receiving the product on time and in the expected volumes.
https://www.interfax.ru/business/883291
Good news that the license has been transferred but I’m intrigued as to why we haven’t taken up the option yet.
Am I right in thinking we have the option until the end of March? If so things could become interesting one way or another very soon!
Bit more from Potanin on the state of play at NN, impact of the war, how the business has adapted it’s supply chains and focus, his view on government involvement in the economy:
https://www.rbc.ru/business/23/01/2023/63cbcc079a79475b43927320?from=newsfeed
Online meeting covered on 20/01/2023 between the Minister of Arctic Development and Economy of the Murmansk Region and the Minister of Finance, Economic Development, Environment and Tourism for Eastern Cape.
Sounds like quite a general meeting about different parts of the economy but “high potential for the development of the mining industry” was referenced as you would expect.
“The parties outlined the main areas of cooperation, in which joint development and the search for specific points of interaction will begin.”
“The Eastern Cape has a developed industrial complex that produces components, spare parts for equipment and machinery that may be of interest to enterprises in various sectors of the economy of our region. It is also worth paying attention to the possibility of organizing the exchange of experience of specialists, ”said the Minister for the Development of the Arctic and the Economy of the Murmansk Region.”
https://invest.nashsever51.ru/list_item/news/v-murmanskoy-oblasti-obsudili-perspektivy-sotrudnichestva-s-predstaviteliami-vostochnogo-keypa
Not sure if this has any bearing on anything as I can’t see if the mining industry was specifically discussed or if the discussions was more general but it’s good to see the authorities promoting cooperation with other parts of the world.
Looks like an accounts / office manager role posted at the end of December for Kovinsky Kamen.
https://m.rabota66.ru/vacancy/id74272107?position=1#/vacancy/company/id8220161
Not that exciting but hopefully they have lots more beans to count this year.
Might be worth keep an eye for any new jobs appearing e.g. “Mover of shed loads of Rhodium” would be a good sign if it popped up.
Regarding mobilisation - Putin’s press spokesman said only yesterday:
“Peskov: Putin will not announce new mobilization or regime change of NVO”
https://www.vedomosti.ru/politics/news/2023/01/17/959421-putin-ne-budet-obyavlyat
Still, that probably means the opposite will happen and they will announce it. The last mobilisation was a shambles and no reason the next one will be any better.
Below quote is from November from their Resources to Market company.
Seems too sensitive for Mitsubishi to be a potential buyer or major partner right now and we’re clearly referencing BRICS countries but this shows there is demand which will need to be fulfilled from somewhere. Hopefully EUA have found some BRICS equivalents of Mitsubishi who are keen to secure their own supplies of Nickel and PGMs.
““The Group has been working on building our future portfolio: projects designed to create a circular economy, in the green metals space as well as in raw materials for batteries like lithium, nickel and platinum group metals for electrification and the development of hydrogen-based society. This is part of the business’ constant transformation to respond to the market’s needs,” he adds.”
https://www.hcgroup.global/hc-insider/leadership-thoughts/in-conversation-with-vineet-kohli-ceo-of-mitsubishi-corporation-rtm
I wouldn’t get bogged down by the HCW report. The potential sale update RNS from 28/10/2021 sets out the same thing but a couple of months before.
“James Nieuwenhuys, CEO and Managing Director of Eurasia commented: "We are advancing our development projects to production, increasing production on our operating mines adding value to Eurasia, while also focusing on other strategic options that are progressing well".”
Things can change but we touched on this the other day GeminiLounge. Would need to clarify if there are exceptions to the previous years net profits measure in the event of a special dividend though:
The authorities have determined the conditions for paying dividends to shareholders from "unfriendly" countries
“Russian "daughters" of foreign companies will be able to pay dividends if a number of conditions are met. In particular, the amount of payment should not exceed 50% of the net profit for the previous year, foreign owners should be ready to continue working in Russia, and the company's activities should positively affect the technological sovereignty of the country.”
Full article below:
https://www.forbes.ru/finansy/482956-vlasti-opredelili-uslovia-vyplaty-dividendov-akcioneram-iz-nedruzestvennyh-stran#bounce
Depends on what minerals are present within said asteroid and whether the impact reduced the amount of blasting needed to get to the original MT deposit. Would probably have to wait for the mining plan to be adjusted and signed off though so not all rosey.
Fingers crossed the authorities recognise these and address the ones that are in their control. Recognising the need for foreign investment is a starting point at least.
Seems to relate to investment into MOEX but main point being the recognition that foreign investment is needed and references wanting to attract investors from CIS countries, China, India, Asia-Pacific countries, Africa and Latin America.
Not sure about the wording Lenta have used in the link address though, perhaps a bit too straight to the point!
https://m.lenta.ru/news/2023/01/10/give_me_your_money/
I don’t have shares in Poly but good to see them looking at another exploration JV with a Junior in Russia. I know they have different circumstances to EUA but it’s new investment in exploration by a company which has one of its listings in the UK.
https://www.interfax.ru/business/880004
The dividend route and investing the required amount into whichever assets we retain might be another option if it’s possible.
https://www.rbc.ru/economics/23/12/2022/63a414da9a79475b91011b6a?utm_source=amp_full-link
To be fair, I wouldn’t cringe at a cash raise if one was needed to ultimately get value but I would like to know where the cash from our previous raises has been spent. Regarding the use of raises generally, again from the 2021 accounts:
“The West Kytlim mine is expected to become a material contributor to the Group’s working capital, and the Directors are confident that this source of capital can be increased considerably from 2022 onwards due to the increased capacity at the mining site, thereby mitigating financing risk to the Group. At the current time, West Kytlim contributes an important but not critical component to the Group’s working capital. Historically, the Group has successfully relied on international equity and, to a lesser extent, debt capital markets to create and maintain adequate levels of working capital, and these financial resources will be supplemented by revenues from West Kytlim as and when they arise. The Group maintains tight financial and budgetary controls as well as cost control, and forward planning helps ensure the Group is adequately funded to reach its objectives. Two significant equity placings were undertaken in May and September 2021 raising a total of $35m and the Directors consider the Group to be well funded for its short and medium term objective”