Member Info for TrickyDicky2

SpaceHoppa

You're right, there is some interesting stuff in there. The problem is, as with a lot of things Pure announces, you're left wondering what else there is going on they’re not telling. The one thing that jumps out from this financial/operating report is they'd be more or less insolvent now if it weren't for the recent fund raisers.

I think I’d feel more comfortable if Anglo had ponied up a bit more than CAD$3.5m in the recent fund raise. For an outfit Anglo's size that probably equates to their coffee budget for the year. As for the warrants, CAD$1.36 isn’t exactly a difficult target to hit with everything coming up especially given they’re valid for the next 18 months.

So many mixed messages coming out of this lot right now it's difficult to know if what’s happening is down to bad management or simply bad luck. More than ever, however, it seems to me like we are all, Anglo included, focused on the 8 Zone hitting the sweet spot. If that comes good all will be forgiven and we will look back on 2021 as nothing more than teething problems typical of a miner going into production.

Its still all to play for IMO.

TDT

Looks like Monday might not be so interesting after all.

TDT

Finished CAD$1.08 or £0.64.

Should be an interesting Monday.

TDT

....of to a flying start.

CAD$1.06 or 63p.

TDT

"Always a good sign when multiple usernames are trying to talk people put of buying or into selling, means they want in cheaper themselves."

Priceless.

Nobody in their right mind will buy into this heap of krap. The next attempted wonga fund raise is coming up soon so the pump will start shortly to be closely followed by a heavily discounted placing plus warrants. This disaster of a company doesn't deserve to survive.

TDT

Currently CAD$1.01 (60p).

TDT

How dare you malign Benny and Fatty with that comparison.

TDT

Gold has just taken a jump up hitting $1,869.30/oz. at one point before dropping back slightly.

TDT

gwm121

Nickel stocks in the LME are Class 1. The price you pay for nickel depends on what form its in, NPI, ferro nickel, class 1, nickel sulphate, they are all priced differently some at a premium to the LME price some at a discount.

Ken Hoffman makes that point quite well in this presentation.

https://www.youtube.com/watch?v=aLLWmVDtVZ0&t=780s

What's going to be interesting in the coming months/years is the stainless steel market pulling the price of nickel one way and EV battery demand pulling it the other. Hoffman is quite clear that a split in pricing the different markets is already with us. That's only going to become more pronounced as Indonesia ramps up the supply of NPI, projected to go into surplus, and class 1 goes into deficit.

I think the price of nickel is going to soften over the rest of this year and into next. The difference in pricing the different nickel products will also widen but that's just my opinion so treat with a huge bag of salt.

TDT

Soundbuy

“Vale and Vermelho....Vale was under pressure at the time to reduce debt…….”

Not quite right. Vale pushed the button on Vermelho in 2005 but then changed their mind and spent over US$7B acquiring a functioning nickel sulphide mine in Canada. That was during the last commodities super cycle which, after Vale acquired Voisey’s Bay, collapsed. $50,000/tonne down to $10,000/tonnes in under 18 months.

fulmar29

“…..majors don't do risk if they can avoid it…..”

Agreed and they can with Horizonte or at least Teck and Glencore can because they’re in strong positions to acquire the company in the future and to prevent anybody else from acquiring Horizonte. Why step in now and take on the risk of cost over runs and delays, why not sit back and let the junior to all the work?

craigieboy1

“…..but nowadays try to minimise it, much less gungho than years gone by…..”

And that’s really the nub of it. Are Teck and Glencore in secure enough positions to prevent somebody else sneaking in and taking the prize out from under their feet or can they relax and let Horizonte spend the next 2 years building the mine and reducing the risk even further. I think it’s the latter but we shall see.

TDT

pickedpeck

I agree with you about Oyu Tolgoi . That was a fair way down the development path before Rio Tinto squeezed Robert Friedland out.

As for everything else ,we are not really talking about BHP, Rio, Anglo, Vale, Sherritt, Sumitomo or even Teck sized companies buying out juniors at the early development stage. And Chinese outfits don't really count, not that I see Horizonte going to one of them.

Majors just don't do risk if they can avoid it. As for the nickel to stainless steel market that's not going to be squeezed over the next few years. On the contrary the amount of NPI coming out of Indonesia will easily satisfy that section of the market. I think Bwana is right, Vermelho is the key here but I think wasarunner is wrong, it will not be bought on the strength of Vale's work (how old is that now?).

The only other significant thing, apart from an outright sale, I can see happing on the "owning" front in the near term (1 - 3 years) is a JV. If that happens it will most likely be after Araguaia 1 is up and running and a new Vermelho DFS is done.

All guess work really but at least it helps to while away the hours,/days/weeks until something significant actually happens.

TDT

Pickedpeck

We must have been typing at the same time.

After reading your latest post I suppose the obvious question to ask is what other deals are you aware of were a mining major has bought a junior explorer at a similar stage of development?

I’d have to disagree on your interpretation of where the greatest risk resides. It’s usually in construction cost over runs.

To be honest I’d prefer a buy out in 6 month. Less sooner as opposed to more later suits my investment strategy but it’s a nice dilemma to have.

TDT

Wasarunner

We will just have to wait and see but I don’t think there’s any real hurry. Araguaia 1 will be producing nickel for the stainless market not EV batteries and that’s not really under any great pressure. It’s Vermelho, in my opinion, where the real value lies and so far we’ve seen nothing in the share price for that one.

Irrespective of which we this goes either outcome should be fruitful for PIs.

TDT

picked peck

"......but I am expecting to be bought out in the next six months."

Not so sure about that. Why buy Horizonte now when two years down the road after all the hardworking has been done on Araguaia 1 you can buy a functioning/producing mine? Big miners don't like risk and are happy to pay a premium to have risk minimised. Vale jettisoned Vermelho in favour of Voisey's Bay and paid several billion for the privilege. I suspect there was several reasons for that move but close to the top of the list would have been risk reduction.

I think Horizonte will be sold but I don't see that happening until at least Araguaia 1 is producing. Longer to wait but a better return.

Hi Geng

All is tickety-boo at the moment, thanks for asking.

Amur Mem & Arts, section 20 "Disclosure of Interests" states the following:-

"A person must notify the Company of the percentage of voting rights held if the percentage of voting rights which he holds directly or indirectly as shareholder or through his direct or indirect holding of Qualifying Financial Instruments (or a combination of such holdings):
(a) reaches, exceeds or falls below 3 per cent and each 1 per cent threshold thereafter up to 100 per cent (each a “Threshold”); or
(b) reaches, exceeds or falls below a Threshold as a result of events changing the breakdown of voting rights and on the basis of information disclosed by the Company in accordance with Article 20C

Interestingly the Men & Arts also seem to suggest that the company is obliged to update the holdings figures every month. I wonder why they've seen fit to include that in the Mem & Arts?

TDT

Nickel stocks in the LME back to dropping after a bit of a hiatus. Down by 1,680 tonnes today, total now 134,172 tonnes.

For those more interested in the LME warrants figures:-

Opening Stock - 135,852 tonnes (1 day behind)
Live warrants - 71,568 tonnes
Cancelled warrants - 64,284 tonnes

TDT

Try parsnips then!

TDT

Tuckman

If we see a 10m+ increase in the total number of shares in the "Other Shareholders" total come the next update early December then I think it nailed on that somebody is building a position. That would amount to a 50m increase in 5 months at the expenses of all the other nominee accounts. If this is being done by an overseas entity then they can go all the way up to just under 70m before they'd be obliged the issue a TR1 not that I expect them to do that.

Of course the above could all be wishful thinking and even if somebody is accumulating there's no guarantee it will positively impact the share price.

Time will tell.

TDT

The issue, at the moment, is more to do with grade than mill capacity and permitted extraction rates. The explanation for the poor results to date is plausible. It being plausible, however, is slightly compromised by this BOD's performance over the last 18/24 months selling shares at the peak and dishing out options. What was it Buffet says "a top class BOD with mediocre assets is better than a mediocre BOD with top class assets". It's quite clear what we have here.

TDT

TDT

That should have been.

The "Bell" who cried wolf.

TDT