Member Info for snooz

Do the size of those two add up to the Kopernik news?

>B = shares issued = 183238901

But, excluding the shares held in treasury, there's: 183,104,339, see https://www.yellowcakeplc.com/wp-content/uploads/2022/06/Yellow-Cake-Investor-Presentation_June-.pdf
If you are going to count those shares-in-treasury in the market cap, then you need to count those held in treasury as being assets. And on the topic of assets... there's $16.6m on the balance sheet that ought to be added to your X+Y+Z.
Stick a comment on http://tinyurl.com/YCA-U3O8 if you disagree with any of the numbers pls.

I've had a strategy of buying when below NAV and selling when above. But now I understand from the CEO that he has a strong aversion to selling any U3O8 to buy back shares (some investors have said they are scared that if YCA shows it's willing to sell the assets, then the Uranium price will be depressed), and IMO unless there is a plan for realising the value of the assets, there's no limit to have far below NAV this can trade.

I really want to invest in something that actually tracks the U3O8 price. Do any brokers give retail customers access to this market: https://www.cmegroup.com/markets/metals/other/uranium.html ?

>>What's the most anyone can get? Aj bell and Hsbc struggling.
>For 0.5m: Offer=0.6440 GBX
>For 1m: Bid=0.6066 GBX Offer=0.6971 GBX
Tightened up a lot in the hour since:
For 0.5m: Offer=0.6440 GBX
For 1m: Bid=0.6100 GBX Offer=0.6450 GBX

I guess it depends on the fees you pay - but I doubt trading larger clips would getter a better result.

>What's the most anyone can get? Aj bell and Hsbc struggling.
For 0.5m: Offer=0.6440 GBX
For 1m: Bid=0.6066 GBX Offer=0.6971 GBX

> Is it just the low volume of trades in this stock?
I think so... but also think there must be some cause-and-effect feedback loop. The wide (large bid-offer spread) prices make it less attractive to trade, making it less traded, making it less liquid, so best bid/offer is less good.

"surely this news is a market mover?"
Can't decide if I am early, or am wrong.
Would love to hear others' thoughts... do we think there will be a move up in SP on the news that the US permits have been finalised.
Maybe there won't be a move - because there was the announcement back in April that the county (San Miguel) permitting was complete, and those were the 'hard' permits to get, so this isn't considered news.

Approvals:

Groundhog:
https://dnrweblink.state.co.us/DRMS/0/edoc/1358392/2022-05-24_PERMIT%20FILE%20-%20P2021008.pdf

Section 23 Area:
https://dnrweblink.state.co.us/DRMS/0/edoc/1358393/2022-05-24_PERMIT%20FILE%20-%20P2021009.pdf

Rim Rock (has a copy & paste error in it saying Groundhog!):
https://dnrweblink.state.co.us/DRMS/0/edoc/1358394/2022-05-24_PERMIT%20FILE%20-%20P2021010.pdf

No movement in the price on ASX yet.... surely this news is a market mover?

BLM says:
"The project has been reviewed by the Field Office and we have found that itcontains all ofthe information required by 43 CFR 3809.301 andwould not cause undue and/or unnecessary degradation of public landsas defined by 43 CFR 3809.5"
https://dnrweblink.state.co.us/DRMS/0/edoc/1358363/2022-05-23_PERMIT%20FILE%20-%20P2021009.pdf
DRMS says:
"it is theDivision’s determination that the applicationand itssupplemental materialssatisfies the requirements of the Colorado Mined Land Reclamation Act, §34-32-101 et seq.,C.R.S. (the Act)and the Hard Rock and Metals Mining Rules(the Rules). The Office is mandated to acceptan application that meets the minimum requirements under C.R.S 34-32-115(4)."
https://dnrweblink.state.co.us/DRMS/0/edoc/1358397/2022-05-24_PERMIT%20FILE%20-%20P2021009%20(2).pdf

Uranium (U3O8) price goes down, share price goes up.
Price rises on news that 2m lbs gets delivered although that has been expected since, what, October?
And, the ultimate proof that price movements are not to be taken seriously, we finish the week with this:
https://www.yellowcakeplc.com/investor-relations/share-performance/ -> Intraday trades -> Order book.
Bid (3)69, Ask 420

Reading around some more... TradeTech 'spot' is up to one year, mid-term is 1y-2y, long is 2y+.
https://www.uranium.info/long_term_price_indicators.php
Maybe it really is a humped forward curve. I think my knowledge gap is: why anyone in the industry would buy mid-term rather than buy spot and store it when the price differential is so high. Surely this is arb'able by someone (buy spot at under $50, sell mid-term at $61, store it for the duration).

>The consultant’s mid-term price indicator remains at a stubborn premium over spot at US$61.00/lb. The long-term indicator remains at US$52.00/lb.

I'm starting to doubt this analysis. This claim that the forward curve is 'humped' i.e. spot & long-term is below mid-term is the sort of claim that should be presented with evidence. Also, they don't appear to define what "mid-term" and "long-term" mean anyways. Perhaps someone is comparing an old mid-term estimate from TradeTech with their current spot & long-term prices?
CME shows a normal forward curve: https://www.cmegroup.com/markets/metals/other/uranium.html

> Link will no doubt be shared
https://s3.amazonaws.com/bigmarker-extension/7abde8548d81-242dccb4be9f1e3447fbccda71a2e618/7abde8548d81-242dccb4be9f1e3447fbccda71a2e618.mp4

Just listening to the Q&A.
The 1st Wedding Bell question - didn't like the "few weeks" in the answer - the cut-off is less than 3 weeks away.
The 2nd Wedding Bell question - lol - exactly what I would have asked... but rather more confrontational phrasing than I'd have used!

Investor Meet Company presentation: https://s3.amazonaws.com/bigmarker-extension/f81e43b82cd7-9beccf438d35bf19115176b2c5a7929b/f81e43b82cd7-9beccf438d35bf19115176b2c5a7929b.mp4
Just settling down to watch it now. Hopefully gonna reassure me that the BLM permits will be in place next week... as we are getting rather close to the no-longer-extendable Colorado DRMS cut-off date.

>Could someone familiar with this stock explain why it supports such a wide spread given the value of the shares but in reality you see sales going through at higher than bid and buys at lower than ask?

The bid and ask you see on-screen are the best bid and best ask on the London Stock Exchange.
When a retail customer wants to trade, the broker gets prices from Retail Service Providers which can improve on the LSE prices.

20% seems so wild, I feel the need for a second opinion on the NAV calc. These guys agree with the NAV calc to within a couple of pence:
https://twitter.com/oceanwall2/status/1523561733318602752?s=20&t=9QJhuZwMFWMReezwGqVGKQ

Some light reading for if you, like me, are chomping at the bit for some news out of Colorado (I linked one of these previously):
Groundhog: https://dnrweblink.state.co.us/drms/0/edoc/1356638/2022-04-25_PERMIT%20FILE%20-%20P2021008.pdf
Section 23: https://dnrweblink.state.co.us/drms/0/edoc/1356639/2022-04-27_PERMIT%20FILE%20-%20P2021009.pdf
Rimrock Area: https://dnrweblink.state.co.us/drms/0/edoc/1356640/2022-04-27_PERMIT%20FILE%20-%20P2021010.pdf

To continue the county lines confusion... I'm noting even this Rimrock doc says "on Bureau of Land Management Lands (BLM) within San Miguel County" though it is actually within Montrose. San Miguel only involved because the access to the area is on roads in San Miguel.

Thanks.
I am happy with that, not just because GBP has gone from over 1.35 to under 1.25 USD this year so far, but more generally I'm happy to take the ccy risk myself rather than have the company spend money doing it.

Does YCA hedge GBPUSD FX risk?
I've not seen anything saying they do - so have been thinking that they don't.
They way GBPUSD has gone this week - my mental arithmetic tells me it's ~10p per share better for investors (i.e. the assets of the company are worth that much more) if they didn't.

~2hrs away: https://presentations.investormeetcompany.com/investor-meet-company/ARGO-BLOCKCHAIN-PLC-Q4-and-Full-Year-2021-Result