The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
'Diver' - apologies. I used to be a BSAC open water diver in my younger days. Prefered the warm waters of the Caribbean tbh where there was great viz and exotic marine life. Never made it to Dorothea though I knew many who had been. My only proper dive in Wales was around Cardigan Island where there is an old wreck (or two?) but that was back in the 80s and the viz was poor and the water was cold. Married a lady who had a medical condition that made diving dangerous for her so I eventually hung up my stab jacket (still have my reg, octopus and other bits and bob - for sentimental reasons I tell my self).
"Brent is trying to light a fire in the belly of the BOD here" - so? If it's a total waste of time what's the point? It's no skin off my nose though and he's free to do whatever he wants to do.
Why do I need a plan of any kind? The BOD will do what the large shareholders want them to do - it's as simple as that. So unless you are a shareholder or you are part of a group of shareholders who can muster at least 25% of the shares in AYM, there is in reality naff all you can do but wait until those who have a very large shareholding (e.g. Juno Mining?) decide what they want to do with this very valuable asset.
Of course, since the demand for copper continues and will continue to ramp up significantly over the coming years (you know ... EVs, IoT, Grid upgrades, green energy production, electrification away from natural gas etc etc), there will come a time when the financial attractiveness of getting the copper out of Parys mountain or selling the company will become irresistable. That could happen soon or maybe not for a year of two. In the meantime shareholders need to sit tight. When things start to move they will move quickly though and shares (given the current strength of copper ore) will get up into the mid-teens or possibly (again dependent on the price of copper ore - and it's not going to be falling over the coming years) around 20p a share (more possibly).
Good luck but I think ypu're being very naive if you think you'll have any impact whatsoever on the BOD's decisions. Who are the principal / main shareholders and therefore those who effectively direct / influence the board?
Brentharg - "I still intend to submit a formal motion for the liquidation of Parys Mountain to the September AGM. It may well be defeated, but I don’t care."
It will be defeated and it will achieve precisely nothing unless you have a shareholding of many millions. I'm not saying don't do it but I am saying you are wasting your time because those with big holdings know the value of what's in the ground and with copper price booming and set to continue booming they are not going to liquidate. The hands of the BOD are tied in effect.
However, that is not to say that things will stay as they are indefinitely - they won't. The situation will change and when it does the SP will climb quickly into the low-teens (possibly mid-teens given that copper price will continue to rise). When that change will happen is the $64 question.
As I said in another post about a week ago - copper really is the new gold.
Copper is at historic highs at $4.70 per pound ($10,208) and Iron Ore 62% Fe iron fines is back up to $217pt (we have been told repeatedly that Iron Ore at anything above $160 makes Labrador genuinely profitable - and Grangeberg must be looking increasingly tempting for those Northern European outfits).
I'm increasingly optimistic for some good news in the near future.
There are quite a number of solid blues today adding up to more than the reds and this has been the case for some time now so that I'm actually surprised that the SP is not significantly higher.
The SP will move up and move up significantly if for no other reason that copper really is projected to climb much higher (it has to with the Green push for electifying everything) and China's attempts to cool the iron ore market has failed (unsurprisingly) so that we are up past the $200 mark again and (it will go higher).
It really is for all the reasons I gave on Thurs - i.e. EVs not only need copper for the motors that are replacing the ICengines in cars but also for the massive amount of work that is going to be necessary to the national grids of all the developed nations and the houses of people for whom an EV (electric vehicle) is going to be the norm (home charging is where it will be at for many). On top of that, we have the Internet of Things (IoT) and that also need more copper for all these interconnected devices.
It's extraordinary that the SP for AYM is again hovering around the 4p mark. When the penny drops for a lot of investors that there is this proven resource available at this crazy low price I expect there to be a very significant price rise into the low teens (this is a figure that certain mining experts who posts regularly on this BB has been saying is realistic at a time when copper ore was much cheaper).
See my posts about the iron ore situation and AYM's stakes in Labrador and Grangeberg. How is that the SP is still at this level - crazy market but it can't stay this low for long imo (and this is not some fanciful ramping post).
A year ago iron ore was around $90 but today it's hovering just below $200 following a correction yeaterday.
Massive infrastructure spend by the top 12 World economies to counter Covid economic damage will keep ore price high. China's efforts to cool things will not stop iron ore prices staying. At these prices Grangeberg and Labrador will start up again - especially as Biden's $trillion++ starts to kick in and EU economies also start spending (they have no choice in fact).
Dear me! The conspiracy theorists / negatives are in full flow this morning.
It was a small administrative error - put it into context.
I'm as frustrated as the next man that things are so slow in moving given the record breaking highs in the price of iron ore and copper ore but AYM will move further uppwards again over the coming months and when it does I'm sure the move will be strong.
... this approach by the BOD gives them some remuneration without diluting the £660k they raised in January which is a very good thing (and as was pointed out by another poster a few days ago - SothWesterner I think). The effect on the share value of an option for an additional 10million shares that will be available as options is small potatoes in the grand scheme of things.
As I (and others) pointed out over and over again in the last 6 months, the advent of Electric Vehicles into the main stream, the Internet of Things revoloution and the need for massive infrastructre spend to get economies past the damage of Covid is going to keep pushing the price of copper and iron into new highs (see Biden's $trillion++ stimulus package and keep an eye out for what the EU economies will be announcing in the coming months). Ownership of assets like Parys, Grangeberg anf Labrador will become highly desirable and the demand for these commodities isn't going to diminish but rather will continue to increase.
Copper really is the new gold.