Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
Blue will appreciate this article
https://www.mining.com/porphyries-deposits-holding-the-winning-trifecta-with-copper-gold-silver/
And it is not just gold and silver as secondary minerals; many others are sometimes found in economic quantities.
EST has tweeted out a link to this article from last week:
https://www.mining.com/porphyries-deposits-holding-the-winning-trifecta-with-copper-gold-silver/
Whilst the article suggests secondary metals of gold and silver they also sometimes contain economically recoverable amount of molybdenum, rhenium, tungsten, lead and zinc. Secondary metals can significantly enhance the economics of low grade resources.
But, identifying where in the deposit those resources are takes time (and money) and does metallurgical testwork so this will take years (but not decades as some deposits would).
Bloomberg article with links to other stories
https://www.bloomberg.com/news/articles/2024-04-25/why-copper-shortages-could-threaten-the-energy-transition
Konstantin on the arrest of Timur Ivanov
https://www.youtube.com/watch?v=y12WsjuNnbk
He reckons it is a BIG deal... The guy was in charge of tens of billions of $ of contracts and lived a billionaire's lifestyle; being arrested for a $10k bribe does not add up.
I think the significance of BHP's bid for AAL to EST has been missed by the market. BHP are clearly looking to find Copper assets before one of the other majors snap them up. It is early days, but the Snowy tenement has an 18 sq kn silica lithocap which is indicative of a large porphyry copper deposit.
These deposits do not need to be high grade to be economical... And BHP have very deep pockets to dip into if the exploration results warrant further significant investment.
BHP are looking for Copper all over the world; EST got a $500k grant under their Xplor programme 'to look for major new copper porphyry deposits in the region [Kazakhstan]'. The grant gives 'BHP certain pre-emption rights with respect to investments in East Star or its projects within the programme.'.
EST's Snowy silica lithocap is 18 sq km - there is potential for a world-class deposit there [generally, the larger the lithocap the larger / better developed the underlying hydrothermal system was]. EST's m/cap is only £7.5m.
FT have their say
https://www.ft.com/content/ca336820-c0d3-400b-8ed3-666f4caec2b7
---or---
https://archive.ph/QovSJ
AAL +13% so far
https://www.google.com/finance/quote/AAL:LON
'Ask Peter: Can Other Countries Replicate the US Shale Revolution?'
https://www.youtube.com/watch?v=7Gdvo8QPuMk
His videos are always informative.
Detailed Forbes article; this paragraph stood out: "All this starts to look like karma at work. A corrupt and autocratic system is the victim of its own corruption, as yet again Russian cash is siphoned off by a contractor without providing a weapon system that works, while potentially more capable competitors who did not make the right friends are starved of funds."
https://www.forbes.com/sites/davidhambling/2024/04/24/why-is-russia-losing-the-fpv-drone-war/
Sounds a bit like the UK's PPE scandal.
You know you want one... Why have a guard dog when you can have a 'flamethrower-wielding robot dog'?
https://throwflame.com/products/thermonator-robodog/
They will probably reclassify what they can count as defence spending... if illegal immigrants are invading us across the Channel then can we count the costs of dealing with that problem as defence spending? Preventing an invasion must be defence of the Nation?...
No fire insurance in California; no hurricane insurance in Florida... the American property market is facing a series of shocks.
https://www.politico.com/newsletters/california-climate/2024/04/11/californias-firefighters-cant-get-fire-insurance-00151885
I posted there about the Open Pit value of their Resource Estimate
Table 2.3 7 million tonnes at 1.41% Copper (1.82% CuEq) suitable for open pit mining is a cracking starting point when you consider the low costs and potential speed to production. If they can recover 2/3 of the CuEq you are looking at 84000 tonnes at $10k a tonne = $840 million.
https://www.eaststarplc.com/_files/ugd/9a9edb_9cd3b7e0d29c4ede92c260df13f36313.pdf
#HUGE - a 5% free carry would still have a NPV of multiples of current m/cap.