Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
My thinking is also for the 27th although in my case it doesn't matter as I maxed out our remaining ISA allowances when it went to 18p.
Interesting article. I liked the key point that 'new projects in safe jurisdictions with a clear path to early production well positioned'. Does that sound like any company we know?
Bit harsh Aim. I thought he was just being humerous not negative.
Stop it guys...don't get my hopes up..... this is ACP we are talking about.....
Are you planning to drop in at the site to see what's actually going on?
Some reports indicate a drought in the area expected to last to December so perhaps rain won't stop work which may help matters.
Billy.... ever the optomist.... But we all hope you are right...
Hi Mumbles - my thoughts also is that it is no coincidence that some issues have come to light following the appointment of Mr Marino. Hopefully the first RNS re this represented a worst case scenario and an in-depth analysis and identification of cost savings might mitigate some of the cost overrun but only time will tell.
As for me, I don't mind being labelled a gambler by some on this board. Life is full of choices each of which could be considered a gamble. Choice of partner, career, where you live, and how to spend your money, are just some risk laden examples. My choice is to continue to hold my shares in HZM. I was planning to top up my holding when the shares were £1.25 and was just waiting for the RNS so, despite the risks, I am actually pleased to be able to top up and average down at current prices. If the price goes lower I shall buy even more.
Just to change the subject and invite discussion I note a number of posts mentioning a possible future glut of nickel, however, I wonder what impact the current conflicts in Ukraine and Israel will have on future stocks. From my own limited research I have learned that nickel is a component of most artillery shells and tank ammunition and is used in armour plating, etc. A standard 155mm Nato shell weighs 48kg and a standard Russian 152mm is about 50kg. Although the percentage of nickel in the composition of these may be relatively low it is the amount of shells used on a daily basis that makes its use significant. At its peak Russia was going through 60,000 shells per day with Ukraine using around 8,000 and in addition most military 7.6mm ammunition is nickel coated and millions of these rounds have already been expended.
America has very recently awarded contracts to increase production of 155mm shells by a factor of 6 and Germany and some other countries are planning to double/triple production. Clearly demand for nickel by the military will ramp up and I wonder what impact this will have on future stock levels?
PP
I agree, and would add that having seen the negative impact on the sp of the recent RNS they will take great care with the next one.
Someone put a decimal point in the wrong place?
I agree that it may be some time before the full facts come out. I don't subscribe to the theory that changes to the design are to improve efficiency. If that was the case then it would have been indicated to soften the blow. My own theory is that there has been a sudden realisation that the water storage and delivery system as currently designed was not large enough to support 2 lines and despite the pain of the additional cost now it would be significant less costly and less disruptive to deal with it now rather that after line 1 was in operation. I was involved in managing funding to capital projects before I retired last year and have seen this kind of thing before. Personally I expected a delay as capital projects rarely run to schedule.
The company will now have to complete the redesign and get it properly costed, and at the same time they will be doing a wider cost review to see what is essential and what is 'nice to have', and what can be pushed into the work on line 2.
Do they need gold plated taps in the toilets, is a tarmac car park essential, do they need the fancy landscaping.
Like many here I too have the Sirius T-shirt and know well that sick feeling in the pit of your stomach as your hard earned savings evaporate in minutes.
I followed Wasa here in 2018 and intend to see this through. I am still buying. Jumped in at 49p on the first day thinking it wouldn't go lower but have bought more at 20p and will continue to do so as funds become available as I firmly believe this will be sorted. There will be some that think me a mug but it's my choice and it's not my only share or my only investment. GLA.
Yes Tornado. Company really needs to explain reason for redesign - and what was wrong with original design. This isn't new technology after all. If redesign is to increase efficiency based on recent learning from other installations then fair enough.
6 month delay and 35% additional cost ....it's nothing compared to what happens up here.
Two ferries now more than 3 times over budget, 6 years overdue, and still not finished and don't get me started on the Edinburgh trams which were double the cost and 12 years late.
Neill - I hadn't forgotten - just hadn't got round to buying them when I posted. Have now though.
Was going to top up at £1.25 so this panic is great opportunity and I topped up at 49p instead. The world will always need nickel and demand is set to increase. No-one seems to be factoring in the new, additional, future demand that will come as countries re-arm and re-equipe and defence spending increases. Nickel is a strategically important metal for defence industries used for armour plate, turbine blades and air frames to name a couple. America used to import nickel from Russia - does anyone think they will be willing partners again? And let's not forget all the stainless steel need for reconstruction following the war and the natural disasters that are occurring. Thoughts anyone?
Ps, whilst I may not always agree with Contrarian I would defend his right to express his views.
Didn't think I'd get an opportunity to top up at these prices.
BTW - Strummer - my good lady is a bit of a whisky connoisseur and she says if you like MacAllan then you should try GlenAllachie 12 year old which is a lesser known Speyside single malt.
Just 38k for me but will add another 2k soon when funds become available.
Yes. For all the previous criticism the finance deal doesn't look too shabby now.
So KK - what would you have done instead?