The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
More sells than buys.Traditionaly I'm told that Friday is the day Brokers look at their house stock and dump stock they see as not worth holding. Because of the afore mentioned I was told never trade on Fridays as the market is distorted by stock being off loaded.
Lot of profit takers at the moment,clearly don't have any confidence that this share is about to take off. As others have stated it struggles to stay above 2.6-2.7p.Think talk of double figures by year end is optimistic .Metal prices are encouraging and hopefully as the world recovers will continue to rise but that's all well and good if the stuff coming out of the ground, in our case it aint.Fortunes will not be made here until a date is given for operations to commence.LIM and Grangesberg are side shows the money is in Parys.
Yes it was Anglesey copper on HMS Victoria produced by The Holywell Copper & Wire Co,Greenfield Valley,Holywell, they also produced the blanks for the Anglesey Penny/Halfpenny which I believe were then sent to Birmingham to be struck as coins.The ability to put legend around the edge of a blank having recently being invented. "Copper Bottomed" a guarantee and in the case of ships of that time a guarantee against marine life that ate into the hulls of ships.
A sea of red,not many holding on for the much awaited PEA so presume they don't have confidence in it being positive. Could be profit taking but surely at these prices gains are small even if you bought in large numbers,why not hold for another couple of weeks and catch the next inevitable bounce.Who knows,it makes little sense to me.
Over the past few trading days Sells have been greater than Buys, this could be profit taking but clearly those selling don't share the optimism of some on this BB that with forth coming PEA SP will rise. If that is to be the case (rise in SP) to me personally if you hold a large number of shares it seems odd to bale out now when things could start to look up.Why sell now at under 2p when in a little over a month from now if the pundits are right you could be seeing 5p.Have I missed something or is this a simplistic view of the market.
Once all the euphoria of the past week is over lets see which way this go'es.SP has moved in the right direction but if past trends are followed will slip back below 2p, what go'es up in AYM's case always comes down. If Micon have now got to evaluate QME's work what was the point of QME in the first place and why didn't Micon do a better job with their studies? this is getting silly we're just going round in circles. We appear to have placed a lot of faith in QME a two bit mining operator run by husband & wife the Mcparlands though Mrs McP appears to have no role in the day to day running of the company.All talk of metal prices/extractable deposits etc is all well and good and may attract a JV partner or big boy with deep pockets but lets not forget this is a mine that has been inoperable for the best part of 60 yrs,start up/pe-production cost will be enormous and it will be many years before such cost are recovered. Even with the predicted life span of up to 18 yrs when the sums are in it may not look a viable option for some.
As for Grangesberg that's a none starter,again dormant for 30 yrs and there are more readily available sources of Iron Ore in the world, enormous operation in Brazil and Australia move more in one train load than Sweden's total ore output for all of 2019. Grangesberg is not a niche product and ore worldwide is not in short supply and as previously stated on this BB scrap steel throughout the world has been estimated to be sufficient to supply world demand for the next 40 yrs. LIM has been beset with financial problems over the past few years if my memory is correct and ceased operations for a while.Again it's inclusion in AYM's portfolio is of little significance and never going to influence AYM's position to any great degree.
We're all getting excited and rightly so but lets not get ahead of ourselves everything is still in the ground and looks like being there for some time yet Speculators will make money with the minor SP movements but any real money is not to be had at this point in time.Talk of SP between 5-10p is wishful thinking my guess for what it's worth is will be round the 2p mark for a while yet unless a JV partner or take over comes out of the blue then we'd see a spike, 10p don't think so.
It's a pity more punters didn't have your optimism .More than twice as many shares sold today than bought and I have to agree at this price it's a giveaway. So can only conclude that no one is interested in 600 acres with mining rights and for ordinary punters looking to invest the Annual report just didn't do for them as it just reiterated the fact AYM are not going anywhere soon. If your looking at long term investment then at these prices it's worth a punt,but I've been here over a decade and still waiting for some action.
Cautiously optimistic.Having had a second read of Annual Report once again every thing hinges on future metal prices & economy, hasn't that been the case for the last 20 yrs? In short nothings changed so though optimistic my gut feeling is that this project will never get of the ground with or without new blood on BOD.
Will continue to hold, could now be going somewhere with the possibility of new blood on BOD and anticipated mine life extended to 12-18 yrs.Increased life of mine should attract investors who were possibly a bit unsure when life expectancy was in the region of 8yrs.,but it's not going to happen anytime soon,next 12 mts perhaps?
Once again we appear to be putting all our hopes in Grangesberg as we did in QME and look where that got us (report not withstanding) nowhere. Who in their right mind would buy or buy into Grangesberg? it hasn't produced a tonne of ore in 31yrs. In the grand scheme of things if it did ever resume production and it probably never will it's output would be insignificant when measured against total world Iron Ore output.Australia and Brazil being the largest producers with Sweden in 12th place (2019).Iron Ore is found all over the world it's not rare, would Grangesberg make a difference to supplies? the answer to that is no,Australia would only have to increase it's daily output for one day to mine what Grangesberg would mine in a year. For those with the money to make it happen Grangesberg is an irrelevance so thoughts of resuming production after such a length of tome are just dreams.
Much needed infrastructure projects will I'm sure determine the need for ore/steel and therefore price.However it's been estimated that there is enough scrap steel in the world to satisfy demand for the next 40yrs.If you consider that domestic white goods,cars etc along with other none constructional steel is constantly being recycled on a daily basis is future extraction of ore a long term viability. I've work in construction all my life and projects I worked on as an apprentice have now been demolished roughly 40yrs after their construction. Steel in general is considered to have a 40yr life cycle ,obviously there are exceptions to this theory. No wish to rain on anyone's optimism just thought I'd mention it.
Since 2013 Grangesberg Iron AB have been conducting Feasibility,Scoping and profitability studies much the same as AYM have for Parys.Swedish authorities have issued licences for mining operations to take place for a period of 25yrs renewable in increments of 10yr periods from any start date of operations. Mothballed in 1989 Grangesberg was the third larges iron ore producer in Sweden at that time.