Chris Heminway, Exec-Chair at Time To ACT, explains why now is the right time for the Group to IPO. Watch the video here.
Not sure what to make of the sell off TBH. You could be correct. Could placing share sell off. £25m market cap so this SP isn't exactly panic stations. Nothing is straight forward with this company.
I think DP stated that the PFS had to be independently verified too which has taken time. All sounds very positive from DP lets hope they deliver this time. 3 weeks of SP rise in anticipation of AGM news….;o)))
The forward projections for the price of copper give me huge confidence in the bonds being delivered or some other finance package. Copper is the new oil so money should start flowing in now that the scarcity of the metal is getting real. $15,000 a ton is coming PXC are in a great place.
Goldman's paper called 'copper is the new oil' is one of the most well-read research papers of the decade. The thesis is well known as copper grades are declining and there have been zero new projects approved this decade. In addition, the green transition (plus possibly AI) will require large amounts of copper and there's a setup for a structural deficit that will be very hard to solve without much higher prices.
That most had 2025 or 2026 ciricled as the year that deficit started to bite, in part due to the startup of the QB2 mega-project in Chile late last year. However at the same time, Panama also closed a mine that supplied around 1.7% of global output. That appears to have moved up some timelines, depending on who you ask.
As for Goldman, the same analysts with the 'copper is the new oil' moniker dropped another great line today saying, prices are only in “the foothills of what will be its Everest."
That was in Santiago where the copper world is meeting this week at the annual Cesco Week symposium. Prices are currently at a 22-week high but Goldman sees prices rising more than 50% from here, to $15,000 per ton or about $6.50/lb.
There were certainly differing views with some sticking to forecasts for physical tightness in the second half of the decade. However all six members of the panel of market participants were unanimous that higher prices are coming eventually. You can take that as a sign of a one-sided trade or a sign that no one can find holes in the forecasts.
BofA on #copper: The decline in #copper treatment and refining charges has been much discussed during #Copper Week in Santiago. That tightening in terms has been driven by a confluence of factors, including 1) low mine supply growth, which has been exacerbated by supply disruptions and 2) investment in smelting capacity especially in China. Picking up on the last point, smelter capacity utilization rates have been declining steadily.
Commenting on that, Aurubis’ CEO Roland Harings said that China’s smelters “are taking concentrates in at levels where you cannot make profits."
The value of having a low carbon producing mine will be very telling soon. There will be an index attributed to mines that show how much carbon emissions are created by the mine. The cleanest mines will attract more customers and a premium price for the copper. Getting the PFS and mine design with maximum ESG credentials is essential.
Citi Research on #copper: Funds have driven #copper up to ~$9,500/t (+~20% since late November), on early signs of global reflation and in anticipation of physical deficits. Pure-play #copper equities, which are even more forward-looking, have moved up to a price of $10.5k-12.5k/t #copper into perpetuity, suggesting that there is further room for forward-looking investors to take the commodity price higher. Indeed, pure-play equity-implied #copper prices are consistent with our view that we have entered the second secular #copper bull market this century. Likely LME withdrawals of Russian metal and modest deficits should support prices around current levels over the next 3 months. We still see a path up to $15k/t by 2026 in our bull-case scenario.
Lets just take in what we are investing in. To begin with, A STARTER mine with resources worth circa $1.8bn mined over 5-7 years. Plus all the other resource including what we think is a stonking Porphyry somewhere at depth. Cash generation will be amazing and there could be dividends. They will get the cash from somewhere the resource is too big and proven to just sit there.