PYX Resources: Achieving volume and diversification milestones. Watch the video here.
Thanks for the advice No.1SS on researching past Temasek subs on the IoM. As far as I can tell - none exist.
The vehicle I assume you are referring to is Everitt Limited, which rather than being a past subsidiary of Temasek, was actually a vehicle owned by BWFN Limited and BWSN Limited, who are nominee companies incorporated in IoM. However, thanks to the Panama Papers, we can see that are each are then owned by two further companies, who are further owned by a whole host of individuals, none of whom have any connection (name or otherwise) to us as far as I can tell. As I said - a lot of digging to end up nowhere!
Afric - I have considered that. He would come up in the IoM registry if that was the case. More likely he is the beneficiary but then we are back to wondering where has the wealth come from.
Extrader - I know it's fun to join the dots, but think this may be a tenuous connection too far! ;)
Hi No.1SS - it would be great if you could air your research on Temasek's links to KE, other than just them having a Singaporean entity called "Everitt Investments" because I for one am still a bit baffled as to who this guy is .
I've done some serious digging on this / him and have turned up nothing. I don't think it's Temasek but I don't understand how someone could have that sort of wealth to accumulate such a stake here without having any internet profile whatsoever...
Sorry MM - nice try but incorrect. The tables calculate to year-end.
I thought you might be reluctant to accept you were wrong, which is why I included your own calculation, so everyone can clearly see your numbers are a result of multiplying the discount factor by 0.9 each year. This, unfortunately, is not the correct calculation.
Honestly, a little bit of humility goes a long way. Just accept you were wrong (again) and we can move on. We don't all have to be right all the time!
MinorMiner - I have some bad news for you.
It turns out you actually don't even know how to calculate a discount rate - even by your standards this is pretty shocking...
The link below shows you the actual discount factors corrected correctly. As you can see, your numbers are nowhere to be found, for any rate or any years.
http://www.financingcp.org/docs/CP3_NPVTable.pdf
For comparison - your miscalculated numbers (taken from twitter and corresponding with the below) vs. the actual numbers at a 10% discount rate:
1 1
0.900 0.909
0.810 0.826
0.729 0.751
0.656 0.683
0.590 0.621
Why people give so much credence to a poster who is consistently and demonstrably wrong is absolutely beyond me...
Hi Riski,
I’m sure I don’t need to tell you that he is discussing naked shorting pre a discounted placing, which is totally different to what I’m talking about here. I’m pretty sure that naked shorting does actually happen FWIW, and think it happened on ALGW two weeks ago, but again, very different to what I’m describing here.
My real name is actually Paul Bateman - a blessing and a curse... ;)
Honestly - I have seen this nonsense about market makers being short of shares or trying to manipulate the stock posted so many times, I'm at breaking point.
The five registered market makers for ZIOC are as follows:
Cantor Fitzgerald
Liberum
Peel Hunt
Shore Capital (third largest MM on AIM)
Winterflood Securities (largest European MM)
So that's three large and famous financial services firms and two of the largest MMs in Europe. If you honestly believe they are posting on a message board or hiring people to post for them, in order to try and manipulate the stock of a company that has a market cap of c.£50m rather than trying to set a market for the thousands of other companies that they deal with, then honestly there is no hope for you and you should not even be investing.
Secondly, no one in their right mind would short this stock due to the news based fluctuations - risk vs. reward is not even close to worthwhile. We are also down almost 50% in a month, I don't think a shorter would still be posting on a random message board to try and get more people to sell? Let's please stop with that nonsense.
Investing involves applying a critical eye to all pieces of information - good and bad. I think we would all do well to remember that (some better than others).
Hi extrader,
Unfortunately it was too good an opportunity to pass up! Although strangely my post has now disappeared, which presumably means the the intended subject is so thin-skinned that he reported a post despite it being his own words used back on him. Remarkable really.
Facetiousness aside, I do agree with you re. the helpfulness of the news. Build it and they will come...!
https://audioboom.com/posts/7010096-miles-pelham-chairman-of-obtala-obt
“I did all the correct calculations but then took them out to make my model simpler even though that made it completely wrong” is a response that I’m not sure a ten year old would believe. I’m almost feeling a bit sorry for you at this point...
Luckily for us all however, my daughter’s colleague(?) developed a piece of software on her university English(?) course that determines whether someone is lying through text. This came into my possession and I just ran your post through it. Got some bad news. Confirmed lie!
I’m honestly hoping that you won’t spend tomorrow counting how many likes random strangers’ posts are getting on internet bulletin boards so that you might see some of the world. I’ve got my fingers crossed for you, but I’m not holding my breath...
A markedly reduced effect, but an effect nonetheless. Glad we are in agreement that there is an effect and you missed it the first time.
Good work also on the ammonia / urea description. Glad we are also now in agreement that when you agreed Zioc had mentioned it in their report when they mentioned potash, that you were incorrect.
I’m happy we are making progress! Who knew you were so reasonable! Have a good weekend!
In your words - LOL
If by “included” you meant “didn’t include, spent 24 hours over the weekend worrying about it, actually did some proper research for a change, redid the calculation, tried to persuade people that forgetting about a 15% yearly deduction over the mine life didn’t make any difference, then said it didn’t make any difference anyway because pellet prices have increased, then logged on to your other account to congratulate and say thank you to yourself” then I agree with you and I gracefully apologise.
I would suggest you get out more, but think you still need to get onto that potash / ammonia reading now you’ve sorted the NPV stuff out...
And there was me thinking that someone calling themselves MinorMiner would know the difference between phosphate & ammonia and would know to include tax in an NPV calculation.
Perhaps a bit of additional reading wouldn’t do you any harm... LOL
MM - great find. This really is excellent news. HT recently announced a similar $2bn investment in Angola - the below article describes that, their operating model in general and how they finance these projects for those interested.
https://www.fdiintelligence.com/Sectors/Chemicals/Angola-proves-fertile-ground-for-Haldor-Topsoee-expansion-plan
Extrader - hopefully it illuminates how they would go about financing it. As you said, potash / potassium is in no way the same as ammonia, so unlikely this is what ZIOC were referring to in their report, but on balance, feels like they were the fifth signatory.
Hi tomshare,
Thanks for your reply.
I do agree with you in general, and that was my first thought. However, the fact the article states that the Kenyan SGD was signed off (when it definitively wasn't) and the South African dam was signed off (when it all in profitability wasn't) made me think again.
Either way, hopefully we have illuminated it enough for others to make their own mind up.
MM - thanks for the helpful discourse as ever.
Turtlewax - I think MM stands for MinorMiner not Masturbate Man. I don't think he'd appreciate that ;)
Hi tomshare,
Apologies for popping up with negativity again, but I'm a bit confused by the article.
That article apparently appeared on the People's Daily online (although weirdly I can't seem to find it there now in the Chinese or English website) on the 3rd of September before the summit began, and the first line began: "The China-Africa Cooperation Forum Beijing Summit WILL be held on September 3 and 4".
I don't know how they can say those agreements were successfully signed if it was written before the summit even began.
Regarding the Msimfbu River Dam project in South Africa they say has been signed - I assume they are referring to the Mzimvubu Water Project, which has been an ongoing saga in South Africa since 2014. If this saga had been sorted, I would expect to see it all over the South African press, but I cannot find anything at all, which strikes me as odd.
The third cooperation agreement the article says was signed is the Kenya Neima railway. Again, I don't think "Neima" is correct so I'm assuming that this refers to the new SGR railway line the Chinese are building for them. However, President Xi literally just declined to finance the third (and therefore fourth) stage during FOCAC until the Kenyans prove it's viability:
"Kenyan President Uhuru Kenyatta went to Beijing requesting that China give half the $3.8bn needed to build the phase as a grant, as opposed to a loan, but China’s President Xi Xinping deferred making that decision until a commercial viability study is done on the whole line, say reports.
Confident that China would agree, Kenyatta and his team had even brought a contract for the two parties to sign during the 7th Forum on China-Africa Cooperation summit in Beijing earlier this week, but Kenyatta returned without a deal."
My guess therefore is that this article was written pre-emptively, but then taken down after one or more of these signings didn't happen for whatever reason.
I am keeping a lookout for confirmed news re the port as well, but unfortunately I don't think this is it.
I’m not trying to be aggressive here - I’m trying to bring some new knowledge / perspective to help people make a more informed judgment but the defensiveness / rudeness is literally unbelievable.
Not one person has given me a fact-based retort to a single point I’ve raised.
That’s me done for the day. Have a good weekend everyone. See you on Monday ;)
Tom - as far as I’m concerned my input helps PIs as much as yours. I want this share price to bag along with everyone else, but not if it comes at the expense of individuals who look at here and think Glencore is going to buy this out / fund it.
I have two data points for no one at Glencore being on the operational team:
1) I work in finance and have spoken to Glencore myself about it (granted doesn’t mean anything to you)
2) John Maughan, the lead commercial manager at Xstrata and now Glencore for Jumelles is still at Glencore but hasn’t been involved for the past three years
Now if I am wrong, I apologise but that seems close enough to certain for me as you can get.