Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Hopefully they’ll keep aside a couple of billion to buy CUSN !
Buyers ready to dig deep for world’s miners
https://www.thetimes.co.uk/article/e025adb5-5e29-4afd-965d-bdb9f111d415?shareToken=e7635b4cb2a973d2509ab0f7ea413889
Gingy - Given the extensive mining industry contacts of the largest shareholder (Sir Mick Davis - VBR) its almost certain that the potential of CUSN is known within the industry heavyweights, there is a good chance things would move that way. I'd expect Sir Mick would want at least x4, what he paid (18p).
In some respects, I'm not surprised the share price hasn't moved much since the PEA, as it only processed mainly existing information (old mineral resource estimate x £31k/t SN price x process cost, etc) , to arrive at not too dissimilar conclusions to recently published broker reports.
We now know getting the mine operational is economically viable, which should result in a positive investment decision to build the process plant, etc. What will really light the blue touch paper on the share price, is a hugely increased mineral resource estimate......imho.
First quick run through of this morning’s PEA looks excellent. For me, the really exciting element is what they don’t show………..They still have to add in the increase of mineral resources from the current drilling programme. Further upside to an already excellent PEA could be enormous.
Wonder how the market will react this morning
GLA
Would love to know how much copper is in the ground at CUSN’s United Downs site. That could turn the dial up significantly on the SP.
Supply gap for copper ‘could grow to a third’, trader predicts.
https://www.thetimes.co.uk/article/6549a374-8b2a-4df1-8c34-caa2dac1a371?shareToken=4ef897f10a46deb33a8151b4cba6f0f5
Vii
Many thanks for reminding us of Sir Mick’s perspective when buying into CUSN. IMHO, given the trajectory of the tin price, I think Sir Mick may exit when the price is well above £. Just my opinion & a bit of time will tell where I am on this.
GLA
Hi Vii.
Have just checked & the CUSN note is still there dated 21 March. Cavendish don’t allow you to distribute it ( as they watermark it with subscribers personal details) but it’s simple to sign up to access their research notes. A great resource for all companies and well worth signing up
Gingy
IMHO I think the route to build the process plant and further infrastructure will be down a project finance route, where debt is paid with future cash flow, or one of the big boys, Glencore/ Rio Tinto /BHP will come in with a buy out offer.
Can’t see VBR diluting their majority shareholding. Remember Sir Mick Davis has recently raised $650m, so raising capital for a project like this should not be a problem ( obviously he has many other portfolio projects needing funding) but it demonstrates finances are available to people who know what they are doing…….. not many have a better CV than him!
Interesting times ahead. DYO, but I’ve spent 3 years following this one and see more positives than negatives.
CUSN have never disguised the fact that their initial fund raising objectives were to reach the PEA and conclude the feasibility study, together with getting the mine in shape for an investment decision to enable production in 2026 ( obviously depending on positive outcome) The team at VBR , main shareholder, are mining industry heavyweights so imho don’t see any issue with the long term production funding.
Drop in SP on Friday with Richard Williams departure, only erased the 9% increase the previous day.
Time will tell with this one, but I’m staying fully invested
the departure of richard williams was not on my event horizon and will be interesting where he emerges in the sector, but comforting he can add in a consultancy capacity.
the pea is only a few months away and anticipate some substantial resource increases based on the last set of preliminary drill results. i’m sure we will all be doing some back of *** packet sums on potential after this. getting cavendish onboard for future placing sends out a positive message. will soon find out if my optimism is misplaced!
the departure of richard williams was not on my event horizon and will be interesting where he emerges in the sector, but comforting he can add in a consultancy capacity.
the pea is only a few months away and anticipate some substantial resource increases based on the last set of preliminary drill results. i’m sure we will all be doing some back of *** packet sums on potential after this. getting cavendish onboard for future placing sends out a positive message. will soon find out if my optimism is misplaced!
Any thoughts on the RNS today?
IMHO, it seems to be positive news to bring forward the refurbishment of the NCK shaft and the £4m saving involved. I can’t see why BOD would reschedule this aspect of the project plan ( and incur forward costs) unless the likely outcome of the PEA is extremely positive , preemptively moving project forward in most efficient way that will result in the reopening of the mine. We will all know in a couple of months time.
Interesting article in FT today on critical minerals in U.K., with mention of tin, lithium & Cornish Lithium. CUSN has positions in all of these but surprisingly doesn’t get a mention. IMHO, When it publishes feasibility study it will hit the headlines
Financial Times,
UK left vulnerable by government inaction on critical minerals, MPs warn
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Harry Dempsey in London
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Read the full article at:
https://on.ft.com/3RrcdNP