Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
UT just popped up for 336k @ 0.58
Very odd
Unusual price monitoring extension rns. Usually only happens when you have unusual volume or price movements.
Nothing really out of the ordinary from what I can see today
Looking like persistent buying since Friday afternoon. Very interesting if you ask me.
TDT
As your question on Friday. I have been in touch with the company. They haven't disclosed anything of interest
I’ve remained very patient since the rns in July. But I’m now getting frustrated with the total silence from the company.
Off the record they are blaming the delay on Swedish holidays in July/Aug. Now over six weeks have passed since the holidays and still nothing. An update on what path has been taken is the least I would have expected by now.
Are they leagally challenging the decision? Are they submitting revised plans?
Very poor communication and a total disregard for the pi’s that keep the company afloat
A little frustrated with the lack of progress.
Surely an update on how things are progressing should be made
I expect some form of fund raise before the end of the year, but they are likely to wait for news to boost the price before doing so
TDT
There are a range of solutions to the TSF/Raindeer problem as you have pointed out. I asked the company directly in the days following the last RNS for clarification on the exact issue. The response I received was no help whatsoever. Just a rewording of what was in the RNS.
I have also requested more detail on the plans that were submitted to the CAB, I even requested for a basic outline to be published. This request was ignored by the company.
Personally I can’t see any solution costing a huge amount. It seems more a case of finding a solution that everyone is happy with.
It seems a very long wait for something that on the face appears to be easily fixed. Surely a discussion with the CAB as to why they had an objection would have taken place by now.
I’m not too happy about being left in the dark as to the next move. If an amendment had been submitted or a legal challenge made then surely we should have been informed? If they haven’t made and significant progress over the past two months I’d be surprised
https://twitter.com/chartmill/status/1039318863660371969?s=21
Looking to break through the 0.7 barrier today. A couple more buys and we should be starting to trend up.
I hope we get back to 1p before any news drops.
*£20m not $
I have taken the following paragraph from a 2010 rns regarding Storuman
The 2010 Scoping Study delivered a base-case project NPV of US$33 million, and an Internal Rate of Return (IRR) of 24% at a US$303/tonne mine gate fluorspar selling price and a capital pay-back of less than 3 years. The Company notes that at the current fluorspar price of US$460/tonne CIF Rotterdam the Company's Scoping Study base-case financial model generates a NPV of US$123 million (at a comparable discount rate of 8%), an IRR of 50% and a 1.7 year payback. Although the grade-tonnage data on which this financial model is based is no longer current it serves to illustrate the positive effects of the rising fluorspar price.
So since that scoping study was done the price of fluorspar is now over $500 even at the time the study was done the price was around the $450 mark but the company insisted a conservative figure of $303 was used
JORC confirms 27.8m tonnes or ore with 10.2% ore so 2.8m tonnes of fluorspar concentrate opposed to the 2.2m used for the scoping study
Based on all the above the nvp for Storuman should be well in excess of $150m
So my $20m figure is looking very conservative
As AveryB has pointed out the MOU does apply to Storuman.
The MOU is a 70% off take of any flourspar produced and finance agreement for all current assets and a view to provide finance for an further acquisition
Explain why not?
What do you value a licence to mine a 100% owned asset in a developed country with a huge European demand and a MOU from a major?
Any positive news on Sweden should see a move well above 2p
Simply calculate the value of what’s in the ground and the fact that a major is ready to fund the development
Mcap of 20m isn’t out of the question
Buys seem to be picking up over the past couple of sessions. Interesting that the last buy went through at .7 today. Shows there isn’t much stock at this price. With a few more buys we are likely to tick up over .7 which should lead to technical traders moving back in.
Although there wasn’t an update last month as I predicted I do think it could arrive any day now
I do still expect an update before month end although that isn’t based on any inside knowledge, more an estimate of time needed to find a solution.
With reference to the current price, it is very undervalued based on the assets owned and the company having no debt. As soon as progress is shown on any of the projects the price will rocket. There are many examples of resource stocks that are not currently generating revenue and likely won’t be for the foreseeable future that have crazy mcaps. £20-30m mcap is easily achievable within the next 6 months
I’m expecting an update from Sweden by the end of the month. We should start to see a rise from the current lows in expectation of positive news
What do people think the chances are of an update this week?
It’s been 10 days since the permit rns, surely they should know what direction they need to take by now