Member Info for RMR1969

Struggling to see any worse case scenario.

In many people's minds the 'worse case' is that no deal is announced, however we now know that there were at least 3 (maybe more) non binding offers, and we know at least one of these (maybe all of them) were at a level to broadly satisfy the BOD enough to seek to move towards binding. The worse case now therefore is that 'no deal is agreed' rather than 'no offer is made' - two quite different situations.

So, in the event that no deal is announced (unlikely IMO), then it may still be possible to 'share' the details of these offers. I appreciate there will be NDA terms to consider, but the offers would find a way of coming out, they always do, just may take a little time and be done in a not so obvious and roundabout fashion.

Tigra - and in that pre prepared RNS I would also hope to see the offer that the Board turned down, that could provide the medium term base going forward. Sure there would be a drop but if the RNS was well constructed and detailed it could easily off set any small term concerns.

Anyway, I don't think it will come to that, like an earlier poster, I had told myself that I was finished buying here but I added earlier, just 18,300 shares to get me up to a nice round number which suits my OCD needs, typically showed as a sale on here but I assure it was a buy!

In until the end.

Hoochy1234

Umm!

I don’t have and can’t find a copy of the DS interview transcript although I do know there is one so grateful if anyone can post a link.

I have listened again to the video and agree that it could be DS says ‘rate’ rather than ‘grade’ as I have always believed it to have been.

It is actually quite an important point IMO, if indeed he does say ‘rate’ then it would add significantly to the value of WK as we already know that rhodium is a ‘significant contributor’ to revenues there.

Anyone have a link to the transcript please.

Cheers

Hoochy

I must correct you, DS has Never stated that we have significant amounts of rhodium.

He did say we have 'significant grade' - that is something quite different, and we do know that rhodium was a significant contributor to revenues at WK at $11,000 per oz.

We have no idea as to the amounts involved.

Judgemental

You have some nerve doing that, I once sold some shares by accident doing that which I didn’t mean too, managed to get them back but cost me a few quid. Wouldn’t dare do it here........

Not quite true optimist59 - DS said it was 'significant grade' - by that I assume he means the quality rather than the quantity, he could mean both of course.

The RNS we had on WK stated that of the 4 metals - rhodium was now a significant contributor to revenues - that was at $11k per oz.

We have had no real indication of volumes sadly, it appears to be being kept tightly under wraps, based on the above however I don't think that is because we have little, it would actually suggest we have quite a bit.......all you can really do is try and join the dots then form an opinion.

In until the end.

Absolutely, I think it looks very good!

I thought I had finished adding to be honest, but I am tempted to find some money from other investments and get some more. I have a slightly odd number at present and stupid as it sounds it is playing havoc with my OCD!

Not even sure how I managed to get an odd number but I have. It was looking at the increasing value of metals and the impact that is having which has made me think about getting a few more.

As I posted yesterday, we are worth $1b more now than when FSP started based on just the proven JORC number of 2.2m oz, and that’s ignoring everything else.....!

$1b......increase in 8 months, more than our current MC.....it’s nuts isn’t it?

GLG

Hate to have to correct you but to be fair he said ‘significant GRADE’ rather than ‘significant amount’.

We may also have a significant amount, it’s just we are not sure at present, however we do have enough for DS to feel it appropriate to mention 3 times in the interview as I have stated before, mostly unprompted. It is clear to me that he wanted that message out there.

We also know that it is a ‘significant contributor to revenue’ at WK.

All excellent news as far as I am concerned. A little odd that the details have not been shared but of course we are in a process and the impact of what we do have could be a key determinant of what happens here and of course how we are valued.

In until the end.

horse.mouth

I am confused, what finished in the red?

London Stock Exchange website has close at 28.8p, are you simply looking on here, LSE is traditionally late / incorrect.

It was a great week here.

I think someone posted something earlier and it got me thinking.

Palladium price was $1900 per oz on July 1st when FSP started, it is now $2350 per oz.

If you simply go with the 2.2m oz proven JORC resource at MT and forget everything else, ignore it completely, then the value of just that resource has risen $1b since FSP began.......!

I know that for such a process average price of metals will be taken blah blah blah, but the value of our PROVEN resources, just that small bit, has risen $1b, and it won't cost any more to mine, same AISC, that is effectively ALL profit, or would have been if someone had bought us back in July 2020.

Now of course, add in the rest of MT, add in WK and the Semenovsky tailings, add in the increases in other metals such as rhodium which has seen even greater increases, add in additional licences, add in a bit of competition (why wouldn't there be) and WOW, it blows your mind.

I know most, if not all, on here probably realise this, but it really does bring it home when you you look at things in this way.

Even if someone had paid $3b for us last year, they would have already made over 30% of it back in less than a year without doing a thing.

Maybe we should all club together and put in a late offer........any takers?

The other point with regards Rhodium is how it is used, ie in very small quantities - DS referenced this in the interview with PI, his point being that no one really 'cares' about the price because it is such a very small part of the end product price it makes little difference to manufacturers and they are 'comfortable' sucking up the increases.....it's an interesting point and one that could see the metal continue to rise.

Certainly no expert here but if IG are closing down certain accounts which means a number of very experienced PIs are having to close down leveraged positions, could it not be that many, if not all of them are now deciding to buy the physical stock.

I believe that tomorrow 3.00pm is the drop dead date for all positions to be resolved. This could explain some of the big buys possibly, some of these guys do hold large positions in this way and are perhaps not keen to see those opportunities lost.

Makes no odds to the overall end game to be fair, just may possibly explain what happened this afternoon.

Having said this we will probably get an RNS in the morning...........!

davere - many thanks, appreciate that, as I said I am not very experienced on Twitter, I think I was searching E_M Investor rather than EM_Investor, you would think the Twitter search function was sufficiently capable of finding him with that..........

Cheers

Strange - and it may be just me as I am not at all proficient in the Twitter sphere to be honest, however E_M Investor, whom many believe to be DS most certainly retweeted a couple of things in the last week regarding WK and metal prices after a radio silence of nearly 6 months, I saw them myself, just went back to try and find them again and I cannot see either retweet anywhere......seem to have completely vanished.

Can anyone more experienced than I perhaps check too?

Appreciated.

Very welcomed rise into close, but as someone else said, unlikely leak since we have have been watertight to date.

Just goes to show what sentiment can do however, we saw what happened on the way down, here we are on the way up, people believing news is imminent, those on the sidelines not wanting to miss out worrying that this may be the last chance, as it may well be, some shorts thinking now is the time to get out and close positions, and others thinking well I had a few quid in the trading pot, now is the time to chuck it in just in case, add it all up and we move fast.......

In until the end.

We DO know that EUA have rhodium at WK, in fact we also know that it is a 'significant contributor to revenues'. Please see the below comment from the RNS on the 30th September 2020:

"The Company is now producing 4 PGM* (with rhodium now a significant contributor to the Company's metal revenue)"

It should also be remembered that this statement was made when Rhodium was at $11,000 per oz, it is now $24,500 per oz. more than DOUBLED, so one would have to surmise that it is now an even more significant contributor today.......!

Further to previous note, just take a look at the most recent presentation on the Eurasia website, page 11 headed "Outperformance of Palladium expected to continue" - it 'predicts' and forecasts in the graphs that by the end of 2020 Palladium will be at $2,059 and then $2,056 at the end of 2021 - we are in Feb 2021 and it is $2,400, in terms of Platinum they 'predicted' and factored in a price of $868 by the end of 2020 and then $973 by the end of 2021 - we are currently in Feb 2021 with a price of $1,250........even with their expert knowledge and understanding of the market, and allowing for the fact that they would most likely be conservative, they are well off the mark!

TheGingerUnit - I am sure you are right of course, it is just the market change has been so dramatic it may have caught even the very knowledgeable and experienced guys a little unawares, who would have factored in a change in the price of Rhodium from $5k per oz to $25k per oz in 18 months.....? I just think it has all moved much faster than anyone would have thought or believed possible.

Stonk

You make a good point.

I am sure that in deals such as this the price of metals is averaged over a period of time and that there are 'rules' and 'standard guidance' to work to, however since the FSP started we know metal prices have increased dramatically and there is no sign this will change, in fact it is most likely to continue as far as the experts are concerned, so I cannot for a minute believe that whatever price would have been acceptable in July last year will not have increased by now.

Analogies can be sometimes too simplistic, but if you were selling your house for £500k and the market moved up 20% in the year, would you still be happy to accept £500k a year later....? I wouldn't.

PP

That made me laugh out loud, just add in make a cup of tea and you described my mornings perfectly, even the bins!