Member Info for ragnarlothbrok

The bad news is that the ZAR has improved over 10% recently and cash ZAR costs have increased by around $3m pa. This may partially be mitigated by higher production but at this rate, by my estimate, unit costs will be well over $500/oz next quarter. The good news is that with another surge from Rhodium this week the basket price stands at a LT record in USD terms with Pt at $919, Pd at $1038 and Rh at $1715. The company is generating shed loads of cash which, hopefully, will soon be in all our pockets.

Webmoor I hope you’re right. Can you share your maths with us on how you get from 5000t production to a share price of 60p (or a market cap of say £100m)? I've found it pretty difficult to put a value on this given the lack of information around both maintainable annual production and the net price per tonne received. I would never fully commit to anything where I can't forecast cash flows so its a speculative buy for me

Polymetal pays a decent dividend (and special divi when the gold price hits a certain level) and has good growth prospects. PAF had a forgettable 2017 and dividend wasn't quite up to scratch. Next year is looking much better. Both should be around the 5% level. HUM just announced first pour today, there is a good chance they will start divis next year. HGM BoD just cut the dividend under their new policy so not expecting the same level of payout next year as previous years.

You need to apply a discount for recovery but this is quite high at 95%. 'Only' 1m tonnes of nickel has been measured which at today's prices is £12bn. This will be spread out over 25 years. I haven't heard the interview but I expect the additional resource is the massive exploration upside which comes with a true tier 1 resource.

Looks like L&G are the first institution to have jumped on board with a significant holding of 5.98%

Well that certainly was a shake!

Market will be disappointed no earnings upgrade, they usually deliver a surprise

https://uk.reuters.com/article/uk-nmc-health-m-a/uaes-nmc-healthcare-plans-800-mln-in-investments-from-2018-idUKKBN1ED0P7?il=0

Right that presentation makes it clearer. So construction cost in excess of $1bn and first production in 2024/2025. This is going to be a slow burner

Nice one Tomglan. I tucked a few into my ISA at £7.77. Looking forward to the next consensus busting update and that 7%+ divi.

I agree, there aren't many AIM listed companies which can raise that level of debt. Normally they would switch to get more interest from funds but look what happened to SXX and SOLG when they switched to the main market. It certainly didn't get them a valuation premium .

All this talk of there being a 90% cobalt deficit in 5 years time and all that drilling that Vale has done to find some and they flip a near term producing asset for £8.5m? Vale is desperate to reduce its $20bn net debt mountain but £8m isn't going to make much of a dent. They simply mustn't be able to afford to fund this and want to get it off the books

Have to agree Mav. £8.5m for a FS and 150,000m of drilling confirming all that cobalt and nickel. And on deferred payment terms contingent on successful commercial production. HZM is going to be producing a lot of nickel in the not too distant future. The only questions I have are why would Vale be selling a Tier 1 project for such a low price and why are they placing shares now when the balance of the payment isn't due until first commercial production?

In 2017 Gfinity a 'leading esports business' made a loss of £5m on revenue of £2.4m and assets of £8m. Its market cap is £52m! Yes £52m. In 2017 Game's esports/events revenue was £8.7m. Games current market cap is £96m. At year end it had cash of £43m and positive working capital. It has a retail business which generates some cash. At a market cap of £96m this is still a steal. We will find out in the January trading update how Christmas trading went and if the esports/events growth continues

I agree unit costs are likely to be exceptionally low when the operation ramps up. As an investor it makes it difficult to value the project (and rank it among other opportunities) when I don't know what the cash will be flow. But I'm keen on rare earth exposure and all will be revealed soon so I'm overlooking this for now

Massive pullback in price from $18/kg in September to $12/kg in December. Be good to see some unit cost information, given no BFS we have almost nothing to work with to estimate cash margins and break even price

Leapfrog where's the source for the offtake discount?

$1008/ZAR13500. USD only 2% off its recent peak and ZAR 7% off. 2018 basket is so far 7.6% higher than 2017 with Q2 higher than Q217 by 14%. Should be a storming result!

Latest corp pres says: "Agreement is for exclusive sales of 5,000 tonnes per annum of concentrate with a right of first refusal over the next 5,000 tonnes per annum"

LSE funny business. Checked 3 other providers and all three showing low volume