Member Info for Shedulike

From the 16th, apologies if already posted.
https://www.argusmedia.com/en/news/2187377-pgm-prices-hitting-new-record-highs?backToResults=true

One month in I would have expected to hear about TD-026 by now. Looking back TD-024 only took just over two weeks but the star was TD-025 which they wedged off plus took it deeper than planned on encouraging cores, spending almost 2 months on it (minus 2-3 weeks for the Christmas break). So possibly it would be fair to infer that the longer that TD-026 takes the better as it suggests they have found a reason to wedge off and investigate beyond the parent hole. Perhaps something soon then for a successful hole with a wedge?

I wonder if something similar could be achieved with the tailings plus ore still in situ at Antonina just across the road from us, particularly with the help of ore sorting technology?
https://www.miningglobal.com/company/new-century-resources-vision-sustainable-mining-through-different-lens

Morpheous if I'd had the vaccine I would be concerned that there were unimaginably bizarre side effects :)

Interesting Tweet of a FT article recommending exposure to commodities. I particularly like the comment about securing production to 2025 and beyond as it contextualises why we can be considered to have near term development potential. This is probably more where Conrad come in with their pre-production deals, hopefully the need for governments and manufacturers to secure commodity security will start to work for us. As I've said before I would have preferred AH's role to be structured differently but if he delivers a positive transaction, possibly some form of debt financing then I have no doubt the market will react positively as it should signal an end to equity dilution. Just going back to the FT it's fine for EUZ to Tweet this stuff but they have got to make the case much, much better that exposure to EUZ is an exceptional way to get exposure to commodities, clearly as the market shows investors are choosing the myriad of other vehicles to get that exposure over us.

trade I realise the campaign won't be over I just expect (all being well) we'll get something on the completion of TD-026 soon, I think the deeper holes were just over month each. It will be significant to hear whether they have wedged off it or not. Also something that hadn't sunk in for me is that the RNS suggests that it is only the "first phase of the drill programme" that "will target areas above the 600m level". So maybe there will be two phases, this one improving the early year ROM economics and then perhaps something to extend the LOM. From what Myles said about the cost of deep drilling I think we'd need funding news before that though.

Hi trade, maybe, I just find it hard to believe that they would be able to negotiate with potential financiers without transparency on this bit of risk. Maybe risk is too strong a word but the economics aren't completely proven until we know the impact of impurities. Guess I just want to know that's all, there will be more metallurgy on the latest cores perhaps they want more certainty before telling us exactly what we've got. Talking of which maybe an update on phase 1 of the drilling campaign this week?

Interesting mfm, we've seen these things predicted before but this time the situation is unique, unprecedented government investment that would make old school command economies blush. The green drive, global electrification of transport, commodity security etc it's all pointing one way. Look at the three year chart for copper:
https://markets.businessinsider.com/commodities/copper-price
The CV crash last March looks like a blip now. Our problem is how to make the case to heavyweight investors that EUZ is a compelling way to get exposure to this story with hundreds of other options out there. That is clearly what we have been unable to do so far, no apparent results from the EMEA conference and I thought the industry conference call was disappointing (not the presentation but lacklustre attendees). Personally I think we need to tackle smelter compatibility and finally put all the impurities to bed because something is making fresh big money look elsewhere for now. I don't know if reassurances can be given under NDA but it has bugged me for ages that this is for me the last remaining significant risk is still hanging around. To be honest I don't know if it would be unconventional to establish smelter compatibility before the mining licence or whether it would be a required component of the application - anyone?

milnrow somebody reported a buy at 9.51 around the time I tried a dummy sell and got 9.52 so whatever was going on it was definitely a strange day. Okay let's test the new spirit of reasonable debate and see if I can make a point without getting called something. Bobby you didn't acknowledge my olive branch yesterday which I think is a shame but there you go it perhaps doesn't bode well for what I'm about to say, don't take it personally but I have to disagree with you on metal prices today. They are of course highly relevant to the investment space right now, think of it the other way round imagine they were on the floor and forecast to go lower, AH's job would be made much, much more challenging. Here's another way to think about it which might help. Imagine the mining licence had been granted and we were looking for an investor or partner to build the mine, the spot price on that day would be relevant at that point in time as would analyst forecasts but so would the spot price going back three years because that's how the trailing average works. In other words the metrics of a future BFS will be impacted by the historical price of our products. You correctly say (board faint as one) that it's about proving up feasibility Pre and Bank, well the value of our metals in the here and now will impact on our ability to do that.

https://matthey.com/-/media/files/pgm-market-report/pgm-market-report-feb-21-english.pdf

Well I've seen some weird days in the market with EUZ but buys and sells matching all day around 9.50 and then a 10.48p trade for 19 shares right at the end, this has to be the oddest.

Yes Hartlebury the good news is, if Vadim has primary school age children then home learning will seem like a doddle after that interview.

Michael I feel that we might need something completely new to drive the SP. The incremental improvement in the Pb,Zn, Ag story is massively important but doesn't seem to be pulling in fresh blood. If we can bring copper into play particularly early doors in the mine that just might kick us into a re-rate. Problem is we see the copper time and time again but they have never investigated it further, I've been told it's a matter of where to allocate limited funds. Commissioning AMS and WA is expensive so they've concentrated on the core products, whether that can change might depend on what AH can turn up. My reticence about the banking route (at this stage) is due to the fact that I am slightly worried about what we lose in a deal but should new funds allow copper to come into the JORC and maybe even allow us to expand exploration then the transaction would be accretive. LR is on record as saying that whoever develops Toral will be mining copper so they must believe it's a viable product.

Best bit is just after 22 mins, Alexandre actually sounds quite startled by Waite's stupidity.

Well that's interesting as I had a dummy sell at 9.52 obone. You could turn a quick profit :)

I think it's a glitch sadly Mailgirl - the LondonSE site shows 9.5 / 10.5 but there is a sell at 9.11 and what looks like a buy at 9.51. Having said that I just had a quote to sell at 9.52 but NT for quantity. Aquis also has a 9.52 trade. I don't have significant funds in my account to test the ask but I would guess it's under 10p, anyone got spare cash sitting in their trading account to test a chunky buy? One things for sure we need some positive news to get back on the radar, if they're not going to update on visual mineralisation it's difficult to see what's on the horizon.

Well played Sir, go straight to the 1st XI.

Right this should be fairly uncontroversial - I can't see how the mid-price can be 10p unfortunately. The 92,000 at 9.11 was a PRIC NT not sure if that is indicative of anything? Anyway not sure how the offer could be 10.5p we haven't had a trade near 10p since Feb 5 as far as I can see.

Well it's well intentioned milnrow. I think it's probably unavoidable that there will be occasional breakouts from time to time but yes relentless handbags is a bit boring and I have taken on board other posters comments saying so. If we can keep a vigorous debate without being unpleasant then that will be an achievement but it needs everyone to buy into it. As I pointed out earlier there's been a lot said about me so I would hope that by me offering to draw a line under that it will be seen as a gesture of goodwill. Let's see what happens.

My reply isn't showing up for some reason, but anyway I've been thinking and I'm happy to wipe the slate clean and try to improve the mood here. So I'll offer an olive branch, but BB has to understand if I don't agree with something then saying so does not constitute a put down. If he can accept that and not overreact if and when we have opposing opinions then I'll try to put my points less forcibly. I'm not trying to drive anyone off the board, I hope Michael comes back but I did object to the teacherly manner in which he told me not to argue with BB. Opinions can get heated inevitably and they will again but I'm willing to try and cool things off. If that is accepted in the spirit it is intended then perhaps the tone generally will improve.