RE: Time prepared to hold 40%+ of current holding6 Feb 2021 16:07
Well, have to admit until recent I was looking to de-risk in 10-12p zone as this was my original thinking. It assumed that that was where we would be for funding. It might still be. But two things changed for me. Nickel price has moved up way beyond our $14K BFS and secondly the uptake on EVs has accelerated dramatically, if one takes the change in attitude by many car manufacturers. (Add in the battery tech improvements). In addition I got fortunate with ARB with its dramatic rise in Dec/Jan allowing me to let my other 2 conviction shares (HZM & DVRG) to be held on for longer.
So now I am happier to hold for the Funding announcement and what actual timescales/plan of action the board take. So de-risk then around 20-25%. With a further 20-25%during the year subject to Newsflow on Vermelho.
Personal View:
In reality Nickel is pushing towards $20K plus. I look at our board and say after 10years how many of them have the conviction to see another 5-10years. JM has other projects he could well be interested in. So if the right deal turns up, I just don’t see us staying independent. Granted they won’t fold for a cheap bid. However, developing 2 Tier 1 assets is really big boy stuff and a lot more manpower/time to get sorted than the board have shown to me to push hard at. So I’m thinking we get bought out. If not then great. But I won’t be here for the long run, I’ll get my dividends from Investments trusts, bonds etc. and re-invest elsewhere. Too much money for me to hold in one asset by then even at 50-70p let alone £1. Appreciated others have a different view risk profile.
Good luck all holders
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