Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
I have to agree Rivaldo, CTO is a great business unloved the data centres was what attracted me which to me seemed a good move for the company.
Global copper market participants will descend upon the Chilean capital of Santiago for the annual CESCO Week industry gathering.
https://www.fastmarkets.com/insights/five-key-talking-points-ahead-of-cesco-week-2024/
Copper is trading at its highest since the middle of 2022, up 10% so far this year, fuelled by supply risks and improving demand prospects for metals used in the green energy transition. The main catalyst for copper’s rally is the unexpected tightening in the global mine supply, most notably First Quantum’s mine in Panama, which has removed around 4000,000 tonnes of the metal from the world’s annual supply.
hi sag, you are right, from my previous comments on here you know i don't rate the management however i cut them a bit of slack here, i have a feeling they doing their best to get their house in order by sorting out issues that should of been sorted as a matter of routine.
as you state ithe company is doing just fine in spite of their **** ups year on year, it was a suprise to me that they commented on stronger prices probably to detract from what was in truth a disappointing update.
Yes, good to be reminded of those guidance figures and the current price of oil higher than when we were suspended, nice to see us back trading again.
As expected update from Ptal with operations running like clockwork clearly state cash is down due capex and dividends, still healthy cash balance, good that river levels are not an issue currently.
Can we break 50p as Bob says we've been stuck at this level for quite some time.
A bit of a mixed bag, all products down compared to Q423 with many significantly.Last year it was the lightening strike this year it's the rainy season interrupts the power supply, then we have an engine down in RUPS, significant maintenance being done, Zircon circuit problems, Rutile effected by MSP issues.
So they have their problems however production for Q1 was inline with their expectations.
Onto the positives guidance for the year maintained weighed to H2 which is good after this set back, better grades expected and prices look stronger going forward, with that outlook I am happy to sell less product at a lower price now with better production later selling for a higher price.
Bloomberg commentary on copper price and outlook.
https://www.bloomberg.com/news/articles/2024-04-09/copper-trades-near-15-month-high-as-supply-outlook-tightens
Fair comment from broker VSA Capital
Central Asia Metals (CAML LN) has reported Q1 2024 production results and as a result our full year forecasts are unchanged. Output across the three metals was down QoQ and YoY due to seasonal factors while management has highlighted that higher production at Sasa is due once construction is complete.
One of my gripes with the management is that they are quick off the mark to dampen any enthusiasm about the state of prices for products by stating we feel inflation will impact, demand is slowing or we will have some production off line due to ...... always a caveat to hold back the sp, rarely if ever do they comment on prices or demand which are showing signs of improvement until it has happened, even then the caveat will be we don't think these prices will be sustained, talk above conservative with their commentary they never like to let the cat get out of the bag.
Interesting times I found it strange that caml should suddenly start to rerate when we have had nothing more than the usual news of a well run company plus small exploration investments, however after listening to recent presentations they may be closer to that game changing acquisition than they are letting on,
hence some in the know are buying in, then we have the rns from East Star Resources today a company who have been drilling to prove up resources and have now put themselves up for sale.
East Star Resources Plc (LSE:EST), the Kazakhstan focused copper exploration and resource development company, is pleased to announce that, as a consequence of interest in the Verkhuba copper deposit ("Verkhuba" or the "Copper Deposit") having been received from several companies, the Company has initiated a formal process including the opening of a data room for a potential joint venture, farm-out, or sale of the Copper Deposit ("Transaction").
Another complementary article from IC.
The low valuation the market has stuck on Kenmare Resources (KMR) goes beyond simple ratios or putting cash profits next to its minute enterprise value. Often when a company’s assets far outweigh the market capitalisation there is a huge debt load or crash in underlying markets. But not with Kenmare. The titanium oxide miner values its dredging, mining and processing kit in Mozambique at over $900mn (£709mn), compared with a market value of just £269mn. Put this against the 2023 cash profits of $220mn, strong balance sheet and increased dividend, and the share price looks even stranger.
Granted, Kenmare has seen the average selling price of its ilmenite and other products drop 10 per cent on average in 2023, and this pushed Ebitda down a quarter compared with 2022. But the real valuation drop is probably due to the necessity of once again moving a whole processing plant to the next deposit. A detailed study on this is expected in the coming months, but the company has said the cost of shifting wet concentrator plant (WCP) A is $341mn, to be spent by 2027.
This is up from the $270mn estimate from a year ago, and Kenmare has already taken on a new $200mn loan to cover initial spending this year.
Even at that higher cost, broker Peel Hunt says this is an opportunity for investors, not a cliff from which the share price will dive further. “We do not believe the shares price in the sustained ilmenite pricing, nor the unlocking of a decades-long future via the WCP A investment programme that is just getting under way,” said the Peel Hunt analysts. Meanwhile, Kenmare managing director Michael Carvill is stepping down after almost 40 years in the job. His successor will have plenty to do but will be taking on a company in fine fettle. Buy.
Thought today's presentation was excellent plain spoken and covered all the bases, some good questions at the end.
As far as the sale of company goes I think Michael hit the nail on the head when he said no one has been banging on their door regarding a sale however if he was running the rule over the company he would wait until the wcp move had been completed before making a move, I get the impression that is the way that it will play out.
Second that, and the two early exploration deals they have started are additional to the main aim of a transitional acquisition, it seems to me that they are setting in place the building blocks for long term growth of the company all we need is one of the acquisitions they are looking at to complete to get it over the line.
Don't forget there is a investor meeting this afternoon 4.30pm details below were the results will be discussed, it's free to register and attend the meeting.
https://www.investormeetcompany.com/
Took a small position after the results came out, for some reason the market hasn't responded to what I thought are excellent prospects moving forward what's not to like with the order book plenty to look forward to, often wondered if this company is ever seen as a acquisition target.
Vsa morning miners take on caml as well as others.
https://soundcloud.com/user-596578261/vsa-capital-morning-miner-250324
Caught the post message by mistake, anyway oil and gas taxed to death.
We still have our investment in Kaz so it's not like they have exited that in favour of Aberdeenshire.
The management here have an excellent track record of running there operations and returning cash to shareholders I expect that to continue.
First off a solid set of results considering at the half year results cash was down to $50m to end the year with $57m in my book is a good recovery.
It should be noted there has been heavy spend on projects at Sasa, and the solar project, and in the results it mentions additional spend on equipment.
Secondly we have cu prices at near all time highs, and research suggests it's going to stay there in the short term, the other metals are recovering as well especially if you look over a five year time frame.
Thirdly the divi is excellent and they reiterated there stance it's 30 -50 of fcf.
As for the the investment in Aberdeen it's small scale and as far as I can see backed by the UK government as a green necessity with grants as opposed to oil and gas which is negatively supported by government and at present investable due