Member Info for TrickyDicky2

We have a combination of:-

Anticipation of an immanent RNS on funding.
The price of nickel bursting past $9/lb.
The LME hemorrhaging nickel at an unprecedented rate.

The only thing that surprises me is we haven't seen a bigger uplift given the focus on nickel and the unfolding EV story but I guess that's still to come.

Have a good relaxing weekend all because I think/hope next week will be just a little bit more frantic.

TDT

Luke2

If he'd been that sensible he would have moved into battery metals 2 to 3 years ago.

TDT

If you want to know what is going on with nickel right now this is a must read.

https://www.mining.com/web/home-shanghai-squeeze-revitalises-flagging-nickel-market/

Noloss

You'll like this bit in particular.

"The investment bank projected a 48,000-tonne global supply surplus for 2021 at the start of the year. It now forecasts a 72,000-tonne deficit thanks mostly to expanded demand expectations."

TDT

Trek

You're right, comms have been woeful, actions even worse but the start-up of any mining operation is not with problems. The head grade might not be up to the levels expected but that problem is bound to resolve itself as work progresses.

I'm not a huge fan of the BoD here either. They've stuck their snouts in the trough too offten and too deep. Taking something out after the project had been brought on stream successfully nobody would have raised an eyebrow. The way they did it!!!!!

There's still value here. The run up to Zone 8 results being announced should see a bit of a lift in the share price. Maybe not as much as might have seen but a lift nontheless. A few chages at the top might help resort PI confidence also.

I bought a few more at 57.5p this morning. Averaging down is always a bit of a gamble but there is news to come and there is always the possibility that it might be good.

TDT

In he graph you posted gwm121 lies your answer. Less than 18 months ago nickel was at $5/lb.

The effects of increased demand for class 1 nickel has only really starting to impact the market in the last 12 months. We are entertaining a different environment now. There will still be a few downs along the way but the higher lows will be sufficiently high enough to make KM a compelling prospect.

TDT

The stock showing in the LME is 2 days behind actual. The total showing is 185,160 tonnes but yesterday it dropped by 1,482 tonnes and today 2,310 tonnes. The LME warehouse total as of today is actually 181,368 tonnes. Why is this important? It seems to me that recent daily drawdown figures are increasing. Where the monthly drop a couple of months ago was between 15,000 to 20,000 tonnes per month its now in the region of 25,000 to 30,000 tonnes per month.

TDT

Not so sure about that Brookieboy69. Young and Bowens are joined at the hip and its Bowens we're dependent on IMO to conclude, hopefully, a successful sale.

TDT

"Back down to 13.00."

That just confirms the malarkyness of investing.

TDT

Today AIM drops by 1.28% to 7.7p while TSX goes up by 3.57% to 8.3p.

Funny old game this investing malarky.

TDT

“I don't know about $35k but definitely much much higher nickel prices ahead”

Be careful what you wish for. The cure for high prices is high prices. Something around the $10 to $11 per lb. level would be fine. Anything higher and nickel will get replaced/thrifted out of EV batteries and the Chinese will start to look at using more martensitic stainless and more low nickel content 202 stainless.

TDT

On the TSX but no RNS here.

TDT

Pure Gold Mining Inc. Enters Into a Bought Deal Agreement for Gross Proceeds of C$20,000,400
GlobeNewswireSep 8, 2021 7:31 AM EDT
THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT AUTHORIZED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

VANCOUVER, British Columbia, Sept. 08, 2021 (GLOBE NEWSWIRE) -- Pure Gold Mining Inc. (TSXV:PGM LSE:PUR) (“Pure Gold Mining Inc.” or the “Company”) has today entered into an agreement with National Bank Financial Inc., as lead underwriter, on behalf of a syndicate of underwriters (collectively, the “Underwriters”) under which the Underwriters have agreed to purchase, on a bought deal basis, 19,048,000 units of the Company (“Units”) at a price of C$1.05 per Unit for gross proceeds of C$20,000,400 (the “Offering”). Each Unit is comprised of one common share (each a “Common Share”) and one-half Common Share purchase warrant (each such full warrant, a “Warrant”). Each Warrant will entitle the holder thereof to purchase one Common Share at a price of C$1.36 for a period of 18 months following the closing of the Offering.

The Company has also granted to the Underwriters an over-allotment option to purchase an additional 15% of the base Offering, for additional gross proceeds to the Company of up to C$3,000,060, to acquire Units, Common Shares and/or Warrants (or any combination thereof), at the Underwriters’ discretion, and shall be exercisable by the Underwriters, in whole or in part, for a period of 30 days from and including the closing date.

The Units will be offered in all the provinces of Canada other than Quebec by short form prospectus.

The Offering is expected to close on September 28, 2021, subject to customary conditions and all regulatory approvals including the approval of the TSX Venture Exchange.

The gross proceeds raised from the Offering will be used by the Company to fund the continued ramp up of operations at its 100%-owned PureGold Mine Project located in Red Lake, Ontario, underground drilling and development of the high-grade 8 zone, and for general corporate purposes.

wasarunner

You just have to look at the recent history of BHP at Nickel West to see just how quickly sentiment can change. BHP were trying to off load Nickel West for a song a couple of years ago with no takers. They're now planning a significant expansion at Nickel West with nickel becoming one of their core commodities going forward, iron ore and potash being the other two.

TDT

"Recommend a beef garden....."

Interesting :-)

TDT

Spell check.

"....held the Malmyzhskoe licenses that Tom Bowens sold to the Russian Copper Company."

TDT

Ween

It's a completely different company. Amur Minerals LLC was the company that helped the Malmyzhskoe licenses that Tom Bowens sold to the Russian Copper Company.

TDT

At least, in this article, they we kind enough make sure there was not confusion.

"As a result, IGC’s joint venture ??rm Amur Minerals LLC (not to be confused with London-listed Amur Minerals)......."

https://www.dropbox.com/s/2f895fhfiqug5gt/%20IG%20Copper%20-%20The%20Northern%20Miner%20copy.pdf?dl=0

TDT

I wish they'd stayed on holiday.

TDT

Hi BobTpt

The 'Others' went up by about 4m to 5m but apart from that no. Just the usual ups and downs in the PI nominee accounts.

TDT

Nickel stocks in the LME will drop by another 2,442 tonnes the day after tomorrow.

TDT

Craigieboy1

Fair comment.

I merely look at the depletion of stock and not the cancelled warrants because, until it leaves the LME, it’s still there in the inventory.

For anybody interested.

https://www.lme.com/en-GB/Metals/Non-ferrous/Nickel#tabIndex=0

TDT