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I should have looked at the Nov 2020 JV instead of March 19 one - but Bamps as usual was ahead of me. So if Newmont decide not to mine, we are back to Fair Market value.
Https://polaris.brighterir.com/public/greatland_gold/news/rns/story/xp4py3x nothing is mentioned in the original JV about what happens in the scenario Starbright mentions - if the 70% managing JV partner decides not to proceed and sits and holds.
There will be a detailed legal document - only GGP/NCM board will know what it contains - but I think it's not at all important.
Telfer needs ore feed to keep it going. Currently if Hav is not mined Telfer will have to be shut down or mothballed as AISC will continue to rise. So my opinion is that Newmont will either decide to
1. Proceed with HAV development under the JV - hence the DFS will be very important as will upgraded resource estimate
2. Try and buy GGP share of Hav so they own 100%, but they may like GGP a a partner given Rudall drill and promising results at Scally.
3. They will put their 70% share of Hav and Telfer up for sale.
Is there a scenario where they will park Hav until later - I do not thinks so but who knows. Only time will tell.
SD has built a very good team, who know how to mine, and do deals including acquisitions, disposals and with a very long and experienced contact list in the top Australian mining companies.
I struggled to refind it and struggling to link to it - have screenshotted it but cannot post here.
https://twitter.com/AiMMoves/status/1650876668574146561
see if this works - was a reply to a tweet by Trades@AIMMoves
Yes - especially giving the declining Cobre sales volumes year on year. The BOD have to look at ways to reduce costs.
This was a retweet I saw on 25th April from RemberingTheFuture (Peter Wales)
"Yes & the MD & I each own c4% of the company
We're at the stage now where "less bad" news can actually be positive & we are well overdue for a recovery phase for the company.
Despite what some think, we are working hard to achieve that"
I'd like to see a bit more evidence of the hard work. They are all across several companies.
Tweet showed John Peters holding 81,000,000 shares 4.02% o company and Peter Wales 80,767,266 4.01%
I bet they paid a lot less per share than all of us. While being paid handsomely as the SP has crashed, and Cobre sales have dropped.
From the front page of SML website "A profitable producing mineral company actively developing projects
tailored to materials expected to benefit from strong future demand" you could not paint a red face on the BOD.
Totally agree with the comments bout the BOD and their salaries and the famous JP bonus.
Who honestly would participate in a placing - the Manners family must be sick of this - must have lost an awful lot of money, and the recent UK investor must also be regretting the investment.
Cobre magnetite sales have fallen year on year. Does not look good.
Only way forward for LC looks like giving away a large chunk of ownership for the funds to start the mine.
Also given the sored relations between Australia and China - this greatly reduces the amount of potential investors.
Not sure what work the BOD are doing to justify their salaries.
4.76m shares between me and the missus - av 1.42p - I'm in.
Also would be happy to get out of this with 50% loss or money back - I have strongly resisted the urge to average down, I just cannot see how the directors can justify what they take out of the company. The JP bonus was a disgrace.
Of course all of us here would like a bidding war. But best not to get carried away - companies will put a valuation on the asset of CNR as a whole - and will not exceed their maximum purchase price - a bidding was though may mean nobody can buy it below their maximum purchase price.
I think a Chinese company may be favourite - Chinese miners seem to go for assets in low cost regions, biggest one operating abroad is Zijin Mining Group, The year 2022 was a big year for Zijin Mining in terms of M&A. The company completed 10 acquisitions within the year, spending a total of RMB 31.9 billion, more than any other company in the industry. They are already operating in South America.
Who knows who the companies with NDA's are - you'd also think some of the companies already operating in Nicaragua would be taking a look.
Hoping the process moves along quickly, although willing to be patient for the right price
I have only been here since Sept 2019 - much less time than many others - and although I hoped to see CNR turn into a miner, will be delighted if I can get out of Nicaragua with a profit. I don't think I'd invest in juniors again operating in politically unfavourable locations.
"In January 2016, the portfolio was expanded with the acquisition of shares in Central Australian Rare Earths Pty Ltd, which holds tenements in Western Australia prospective for cobalt, nickel sulphides and rare earth elements."
Then in Half Year Results to June 2020 RNS https://irs.nbtrader.co.uk/ir/StrategicMinerals/newsArticle.php?id=31142820685576646&ST=SML
CARE
"As a result of the inability to locate an economically feasible deposit on existing tenements, the exploration assets were fully written off in the 2019 financial year and the Company has begun winding up the subsidiary."
It's hard to find the details and I don't have enough time just now, but that region is considered to be highly prospective, but like SML many juniors now struggling to find money to explore in real virgin areas.
From this RNS https://irs.nbtrader.co.uk/ir/StrategicMinerals/newsArticle.php?id=2552248&ST=SML in 2018
"The Company has agreed to arrange the sale of the following tenements to GSN:
- E38/2829
- E38/2442
- E38/2587
- E38/2856
· The tenements in the agreement are 100% owned by CARE.
· Total consideration for the sale is AUD 145,000 to be paid by way of AUD 100,000 in cash and issuance to CARE of 1,000,000 shares in GSN at an issue price of AUD 0.045. A non-refundable deposit of AUD 50,000 will be deposited on exchange of contracts and the cash balance and the shares will be provided on transfer of title.
· 500,000 GSN shares will be subject to a voluntary escrow until 30 December 2018, with the balance voluntarily escrowed until 30 June 2019.
· The sale of these tenements channels the Company's focus for CARE on nickel/cobalt and rare earth exploration.
Financial results for year ended 2018
"Divestment of non-core CARE tenements for $102,000 (AUD $145,000). While these tenements may prove prospective for gold, they were mainly held for their rare earth potential which has been discounted and hence considered non core.
· The Company continues to focus its strategy on metals and minerals likely to benefit from an expected boom in the battery market and is pleased to see that prices for these metals and minerals, in 2018 and into 2019, continue to improve in line with the Board's expectations.
Drilling programme conducted at CARE's tenements at Hanns Camp, Western Australia resulting in findings for both cobalt and nickel sulphide."
Like a lot of things with this BOD - lot's of smoke and mirrors - the website still says we will start production at LC in 2021 and Redmoor in 2024! I mean our BOD have been a bit busy in the last few years! Most companies in their position would have done some cost cutting.
Still - might be saved by rising copper prices and LC if we ever get PEPR and finance. Rare earth minerals however is where a lot of interest is now.
https://www.youtube.com/watch?app=desktop&v=qN7a3crJGo8 interesting interview with Ross Beaty - in it he says lot of focus on gold and price - but real interest is in anything but gold - copper, nickel etc. He says Junior explorers undervalued and market will correct and big gains to be had.
So lets hope BOD get PEPR and deal done and make a start at MOL.
If you were one of the serious bidders hoping to buy either the asset or the company, would you start to buy some shares on the open market when the prices are low? I know it's sort of double edged sword as demand increases price - and would you be able to buy enough volume to save you some money on whole purchase?
ShangrLa - thanks for posting - hope you are correct. I am seriously underwater here - and unlike DVH have not been brave enough to keep buying and average down.
Could buy 3.75 million just now on HL for .2825p per share - but would only take my average from 1.42 to .92 - so unsurprisingly did not hit the buy button - my hard earned will go elsewhere.
I seriously hope LCCM goes ahead and becomes very successful - for all of us.
I just cannot see NCM exiting Australia - Cadia is a cash cow.
https://miningdataonline.com/property/888/Cadia-East-Mine.aspx#Reserves shows reserves - low AISC and in mining friendly country.
I have had plenty opportunities to take decent profits and have missed them all, becoming too devoted to the companies and thinking it could get better. Sitting on large losses now on all aim shares, all in junior miners. I am still hopeful ggp will save me. Was 500k up at one stage, now just about break even.
Here I will be happy to break even, about 60% down.
I just got the HL messages showing me all the offer shares we have received. Increased our holding, and average reduced from just under 34p to just under 31p.
Like many hoping for a quick sale and out - at profit - let's see what happens. If I get my cash out quickly - think I know where it will go.
Well looking at HL accounts - all I can tell is all the cash I put in there and my share sale cash has all been used to buy the 15p entitlement shares - but as of yet cannot see numbers of shares bought or value for them on the accounts.
I made a mistake on the excess shares on my HL form. I was taking allocation in iSA and putting them in trading account, and in the first box put my allocation number only, instead of total amount, with clear instructions of what I wanted in the message. I then realised my mistake and sent secure message to H L but had no reply last time I logged in. Will check later today.
I have taken up all my entitlements. I sold some shares this morning - was worthwhile to but back at 15p, 16.17 was sell price, and have funded 1 part of entitlement with £1.3K and requested a further £2.5K above entitlement into share account.
This probably means we will be trading below 15p next week.
Seingred - as you know I have always valued your opinion - you did well to sell in 30's - wish I'd done the same and I would have been entering again now - possibly.
The only reason I have faith is JM involvement - although he has the bonus of warrants. Hoping JM and MC do not let long term shareholders down.
I have taken up the offer in my wife's SIPP - added funds to do this.
I have re-read HL instruction a bit more. I can take up offer from ISA but using funds in my share account as long as I leave instruction to do this.
I have not decided yet whether to do this or whether to sell at 16 (have the £15 dealing charge) to buy at 15.
There is the option to sell a big chunk - and then apply for more than the allocation - but no guarantee - anyway for me it's sleep on it and decide in morning.
I do think full take up of the placing will be important to the market and for SP. Not sure it will be fully taken up though but hope I am wrong - hope it's very much oversubscribed. Last think we need is another placing after this.
Other option I have is to just buy on open market - could use trading account - and offset any CGT by selling something else I have in there at a loss and then buying back.
But in my previous post - I am wary about "throwing good money after bad". I agree with ISAPENSION - you never know with CNR
With HL I have until noon tomorrow to decide whether to take up offers.
I have not sold any funds in my ISA's and have no allowance left. So I have to sell CNR shares and still undecided.
I am going to decide tomorrow morning - was hoping to see a small increase in share price. Don't think that will come now.
Those saying sale will happen quickly - hope they are correct, as long as we are north of 50p. Think many long term holders will want resolution in some form - I'd have preferred to see mine going into production - but not going to happen. Hope most LTH can profit or at least break even. Many high's and lows. The last time it was at 62.5p I was very tempted to take profit and run - wish I had now.
Interestingly, think the trajectory of gold price and maybe other metals may start to go northwards - many of us have been waiting a long time for this - including JM.