Member Info for SeisNav

Don’t worry, despite you-know-who trying to hide the news, I’ll be sure to repost it on Monday… just in case any genuine investors missed it 😁

FIL Investment International has now passed Slater Investments as the largest shareholder, adding 67 million shares since the last update. Canaccord Genuity Wealth Mgt also added a few million.

Https://www.miningweekly.com/article/anglo-joins-zambian-conference-to-discuss-resource-tax-2023-07-07

"www.ferroalloynet.com: South African chrome ore 40-42% concentrate price is 280-290(bulk). South African chrome ore 42-44% concentrate price is 310-315(bulk). "

Chrome prices still holding up pretty well, slightly down from the highs but not by much.

Rhodium showing a little uptick for the first time since May:

https://www.metal.com/Other-Precious-Metals/201102250583

Have we reached the level where rhodium is attracting interest again?

Looking more into the cobalt price, I checked the Shanghai Metals Market. Refined cobalt price has been steadily increasing since the start of June, something which wasn't obvious from the LME price. They are currently showing an average price of US$36,500 (if you deduct the 13% VAT) and a highest price of US$39,800. We must be close to restarting production if not already started I think.

https://www.metal.com/Cobalt/201102250375

Personally I think we are still too early stage in copper and cobalt to attract a serious offer. Once we have proved that it’s possible to reliably produce A grade copper cathode from tailings over a longer period and at a greater scale, then I can see serious offers coming in, either off take agreements such as some of the big car manufacturers are looking to do or even a partnership / buyout. Hopefully by that stage the share price will be considerably higher than it is now!

It looks like someone is confident, some very big buys after hours yesterday plus another first thing this morning, totalling £200,000 or so. Someone positioning themselves for the H2 results or maybe someone in the know expecting news soon?

Cobalt up another 6.5% on Friday, that's nearly 13% up in two days... something to keep an eye on next week! Prepare to fire up the cobalt circuit Leon!

Wasn't expecting what to happen? Nothing has happened yet, we are in a holding pattern until the CP's are done and Anglo can get drilling. Is the investment any less promising than it was before the JV was signed? Of course not.

Presumably that figure for production costs is based on full capacity usage, producing smaller amounts would likely incur higher production costs which is why they want to see a significantly higher price so they can expect to produce profitably over a longer period. Anyway lets see what next week brings, if you see what happened last time the price increased significantly, it went up to over US$50,000 / tonne pretty quickly.

I wonder if the uptrend in cobalt will continue next week?, that report suggests that everyone has been caught out, expecting a surplus in the market which hasn’t materialised. If it reaches the US$37,000-38,000 / Tonne level that Leon mentioned in the analysts call then we could be in the ideal position to be able to quickly ramp up production and take advantage of it.

Here’s the chart tracking the cobalt futures price, as Leon mentioned the cobalt market is more order driven and doesn’t necessarily follow the headline price but it gives an indication of where we are:

https://tinyurl.com/4y99rtkw

The blue band indicated the US$37,000-38,000 level at which the company would be looking to restart production.

Ah… this is the reason:

https://www.argusmedia.com/en//news/2464786-eu-cobalt-price-spread-widens-on-tighter-alloy-grade

I wonder if this report is the reason for cobalt rising… it was one of the minerals targeted for deep sea mining.

https://www.mining.com/web/fixing-deep-sea-mining-damage-would-be-double-the-cost-of-extraction-study/

Https://tinyurl.com/y2fuwr75

If this chart shows one thing it’s that the trolls have had absolutely no effect on the share price. Filter them out and don’t let every thread turn into a pointless argument with them.

Please stop replying to these nuggets! That’s exactly what they want.

Https://tinyurl.com/y2fuwr75

Here's the ARCM chart along with the copper price and some of the key RNS updates. Notice the SP went from 2p to 4p on announcement of the Exclusivity Agreement. The copper price at the time was US$6,500. Upon signing the JV, the SP briefly went over 4p before drifting back to 3p. The copper price was US$8,500. Just thought I'd point it out for the sake of the trader who keeps insisting that our SP is being driven by the copper price!

I checked out your posting history when you first posted… I see you use this routine quite regularly. I do hope people don’t fall for it.

Maybe you could let us know the reasons why you bought in at the current share price?

Steve yeah I’m aware of his posting history. The thing I don't get is why he bothers! Absolute minimal effort, it’s not going to sway anybody’s opinion here. Just fills the message board with garbage. Maybe he thinks he’s actually having some effect!

Are you investing in sentiment or facts?

If copper rises or not is irrelevant to our situation. Take the example of our near neighbour Sentinel. The AISC per tonne of copper is in the region of US$4,000 / tonne. Annual production is something like 280,000 tonnes. At the present price of copper that means they will be generating US$1.2 billion / year from that mine. If copper goes up then all well and good but to suggest that the current price is somehow uneconomic is absolute rubbish.