Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
So far it's the presentation at https://s21.q4cdn.com/765868678/files/doc_presentations/2021/05/new/ASND-Investor-Presentation.pdf
Not only does Steppe Cement look good on fundamentals and as a dividend play but it's worth bearing in mind that anyone who bought in here since Feb 2014 is now in the money (not including the 9p per share dividends received in that period). That means most holders have that nice warm feeling of being in profit. If the share price goes through 50p it will be at a level not seen since February 2011, more than 10 years ago.
Yes, it's a shame that an RNS is just a functional document rather than a presentation. They can read a bit like a "word salad" just because they have to tick the boxes - the fog of transparency! Some NOMADs are more careful than others -
Also, I like the idea that the relationship with Bushveld could well lead to other spinoffs. Bushveld is looking to be Mr Vanadium, not just the products but the way they are accessed including rentals etc. Their interest and experience in Africa (often a money pit for companies who just see the population and don't understand the risks) could well pay huge dividends - even South Africa had 4 days of power cuts in January and countries like Nigeria could outperform if they had access to reliable electricity.
Looking forward to a company update that fleshes out the bones and gives more idea of the potential...
>>barnetpeter
Absolutely understood, but I wouldn't describe Mustang as a "fund" that tends to just buy into publicly available stocks to give you a balanced derisked basket of equities - it's a SPAC.
According to its prospectus (http://www.mustangplc.com/documents/MUST%20Prospectus%20(FINAL).pdf) it was always set up with the intention of acquiring a company which would then be treated as a reverse takeover which, in turn, would require a temporary suspension in the shares. I think you'll see more of this happening with the influx of SPACs in the marketplace.
The advantage of this arrangement is that, with the right SPAC (there are some rubbish ones just throwing cash around rather than investing), the "brains trust" in these SPACs can often use their contacts and industry knowledge to acquire assets that most companies wouldn't even be offered. Sometimes, these are companies with amazing technology but not enough cash to take their products to the next level or to expand to new markets.
What I like about the ultimate target of this, Enerox , is that it's not a startup with just potential and no track record. According to the Bushveld RNS on 01/04/2021 (https://investegate.co.uk/bushveld-minerals-ld--bmn-/rns/follow-on-investment-in-enerox-gmbh/202104010700092719U/) they've been going 20 years and have already sold 23MWh of systems.
Then, you see from the same RNS that they took SIGNED orders for 13MWh in H2 2020 which implies annual orders of 26MWh - so more in a year than they have sold in the previous 20 years!
Then you see why they want the cash injection...
"The EHL shareholders and Enerox management have determined that the growth capital required by Enerox is US$30 million, which will provide sufficient funding for Enerox to scale up to 30 MW (120 - 240 MWh) per annum manufacturing capacity and sales, executing upon a strong pipeline of available projects, with a future expansion allowing Enerox to scale to at least 150 MW (600 - 1,200 MWh) by 2025."
So, Enerox is looking to ramp up production by 5x to 10x during 2022 and then multiply by another 5 times that by 2025.
Am I reading this wrong? The potential looks huge particularly against a backdrop of a "strong pipeline of available projects". This investment alone could multiply several times over.
Happy to receive any feedback on the above in case I'm missing something...I just wonder if the complexity of the deal has put people off from trying to join the dots...
New presentation released today to coincide with the AGM currently in progress
https://www.capdrill.com/media/investors/Presentations/CAPD-2021-AGM-Presentation_Final-20210427.pdf
>>RussellSprout - Michael Frayne is a qualified Accountant AND Geologist according to the bio
https://capitalmetals.com/directors/
Even the non-geologist directors have racked up a fair few years with resource companies so I expect they know what they are doing...
Absolutely agree with you about the TruSpine fundraise. I can't see the PRIM BoD investing further in TruSpine without significant progress being made.
It may be nothing but in last month's quarterly update it's interesting that there is significant praise heaped on the Fresho and Engage management teams following a review of all the investee companies. No mention at all of the TruSpine management team - if PRIM haven't undertaken a further investment in Engage (whose management they were impressed with) I can't see them investing further in TruSpine at the moment. I know that the update focused mainly on the 2 larger investments but it noted that the smaller investments "face significant challenges." so there's probably several good reasons for the BoD not to invest further in TruSpine at this stage.
Snowy1664 - I spoke to Interactive Investor on Friday and, after them checking with the dealer, they confirmed that they could handle the scrip dividend for HMSO. They confirmed that I would just see the extra shares in the account as no money needed to be in the account to pay for them.
That may be the case but when you go into a company you're never sure what you're going to find. Look at some of the investments now showing at https://primorusinvestments.com/our-investments/ which we didn't know about. You really can't take anything for granted until you've proved ownership of your holdings etc so that's why it took a little while to review everything (RNS - Fri, 13th Nov 2020).
PhildePain >>
TOGGS - Terry’s Old Geezers n Girls...