Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
Who is selling on this news. We knew this was coming and confirms that a Tier 1 FTSE100 company is investing £2m into our little company. Price should be going up not down!!
Only Fill or Kill orders being accepted this morning for small quantities of buys.
Now that copper has broken $3.4ib I thought I would look at some potential turnover and profit numbers.
I am sure others can put me right if I am off track but I have kept this as simple as I can.
We know at the last interims that for 6 months to end of June we turned over $25 and lost $8m.
Copper price received was $2.32ib which mirrors the spot price during the same period.
If we assume that 80% of the mines production is copper this would represent $20m of turnover. Copper prices are 50% higher so the $20m becomes $30m and turns the loss into a profit, all things being equal.
Where it gets interesting is how much more production we will see in the second half. We know they are mining from the new ore body with better grades. Lets assume a 50% increase. If that could be achieved the profits of between $5-$10m for the second half are a real possibility. This gives an annual profit run rate of $10-$20m. I know we only have 11% of this but for a company valued at £3m I think we deserve a higher valuation.
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https://twitter.com/kjawoogie/status/1331848328875794435?s=19
Copper hits 7 year high!
Lottohopes - I think your analysis is spot on. When the share price was at 16p we owned 33%, now 11% and the copper price was at $2.8lb. Although we own less of the mine we jettisoned multiple liabilities and in return we took a reduction in our equity stake. Copper is a whisker away from a 5 year high at $3.30, some 15% above the price when we traded at 16p.
Given our reduction in equity I think 16p may be a struggle to get back to but one thing is for sure, we are now worth more than the market is pricing us at.
Blackrock up another 11% last night in Oz. Thats some 60% in the last 2 weeks. Our turn next?
Price at close on 31st Dec:
Deepbreath - £1
Isb - 15p
Maddog - £5
Dickpullar - 63.5p
Cbax - 95p
Genghis15 - 30p
TheITCrowd 25p
I see Black Rock closed at 7c in Oz this morning. That's a new year high for the stock.
Being one of our neighbours this could be a good sign for us and doesn't seem to be troubled by any political uncertainty.
Fingers crossed
I doubt you guys will have long to wait to be in profit, middle of November should do it. Fingers crossed.
Always best to build a position when it's quiet tradedesk. With two company making projects expected to come on stream in the near future what is there not to like.
There is the RNS we were hoping for, great vote of confidence today. £1.3m convertible loan notes at 10p and no interest payable. Result. should see these back to 10p in no time now.
Couldn't agree more Findingfeet. Patience is the key to this one, with the biggest rises coming to those who wait.
I would stick my neck out and say will be trading at much higher levels by Christmas.
That's only two months away. However that may be a lifetime for some investors.
Keep the faith folks.
You are not alone Stevebru I am still here, at least there is two of us. :)
MMs appear to be very short of stock this morning.
Tried a FOK for 35,000 at 5.2 and it failed. Just tried for 15,000 and it failed too.
They want your shares!
Well there you go, I said it would get back to 5p before the end of the week.
I think 6-7p is possible by the end of the week now. :)
Hi Steve, think we have a few T trades closing out today. I am sure we will back above 5p in the next few day.
DId you take a look at CRCL, seems to have gained a bit of interest in the last couple of sessions.
BTW Good win for Newcastle at the weekend. :)
All the best. J
Got them!
Can't buy anything online at the moment. Put in a FOK on 100K at 3.9. Lets see if I am allowed to have them.
Hi Steve, Newcastles Manager is Steve Bruce, thought you had dropped the "ce" off the end of Bruce to remain incognito:)
Are you invested in any other recovery plays? I bought into CRCL today, bombed out and could recover well. Not a pleasant history to it mind but with new management in place it could get some attnetion.
Have a great evening. ATB Jerry
Hi Stevebru I think this has all the hallmarks of a recovery share and the graph does look rather interesting.
Let's see what the next few weeks and months hold for us. I have managed to nibble away and accumulate a few more than you so I hope I am right! You don't manage Newcastle United do you? :)