Member Info for TrickyDicky2

Fire sale.

TDT

"wonder what a higher oil price will do to the miners"

Increase the uptake of electric vehicles and therefore demand for nickel I shouldn't think.

TDT

No prizes for guessing who this was designed to benefit.

"The LME said it would also consider adding co**** nickel powder as eligible for delivery and that it plans to cut the waiting period for new brands to three months. It usually takes six to nine months, but can take longer, one industry source said."

I wonder if the LME does a full disclosure statement when making these sort of decisions?

"LME owned by Hong Kong Exchanges and Clearing who, in turn, can't scratch their arze without CCP approval."

TDT

I'm not sure this is accurate.

"A disconnect between the LME high-grade nickel and surging production of low-grade nickel was a key driver of the chaotic price action on March 8, 2022, which forced the LME to annul nickel trades and suspend trading for the first time since 1988."

I thought it had more to do with the Russians invading Ukraine, potential sanctions impacting Russian nickel exports and Big Shot being caught with his pants down. Not so sure low grade nickel had much to do with anything.

TDT

Why has it taken them so long?

https://www.mining.com/web/lme-launches-sweeping-plan-to-revive-nickel-contract/

The market has been screaming out for this for years.

TDT

Boatman1234

I see you're still a t w a t though. Somethings just don't seem to change.

TDT

Trowtech

If you are looking for an introduction to the Russian reporting system for mining this is a decent start.

https://www.dropbox.com/s/rt9vjht0314mckr/Mineral%20Resource%20and%20Reserve%20Reporting.pdf?dl=0

TDT

"....a guy who was in my class at Eton...."

Not Kwasi Kwarteng by any chance?

TDT

"I think from the 15 March 2006 to the current date is more than sufficient time for the AMC Board to have created and delivered shareholder returns!"

Thery did. They presented PIs with ample opportunity to profit during two significant spikes. Some took advantage the majority didn't.

Pre-judging whether an RTO is worth pursuing before you even know anything about the intended RTO is, in my opinion, a bit rash but that's your choice.

TDT

"....will have to distribute the remaining cash in AMC......"

Can't you see the risk in that? Just because you will vote against an RTO, an RTO that you know nothing about becuase one hasn't been identified yet, doesn't mean to say everybody else will.

I think the market is discounting any residual value post special divi distribution.

TDT

That should have been:-

"..... can't be assumed to be 100% nail on."

TDT

Agneissearner

You're assuming there is now no risk and that clearly isn't the case. In the same way that Putin's "special military operation" was not foreseen payment of the special divi, until it actually happens, can be assumed to be 100% nail on. There is still the possibility that it will not happen. The 0.06p margin between the current ask of 1.74p and the special divi of 1.8p represent the risk factor.

As for the value of Amur once Kun Manie has been disposed of and its nothing more than a cash shell, well that one is anybody's guess. I think it unlikely that it will be valued at the cash total in the bank. In fact it's likely to be an awful lot less and I base that view on PI sentiment and BOD past performance.

Loading up right now is a gamble. It all depends on your appetite for risk.

They don't state that the stripping is potential the exact wording in the RNS is "Washing of gravels has finished for 202 2 with our team and machinery now refocussing on the winter stripping programme." As start-up at WK for the 2023 season approaches it would be interesting to get an update on how much has been stockpiled ready for washing yet I very much doubt you are going to get that.

In the same way I suspect this

"The Company has stockpiled all of the mine product (a ‘black sand’ concentrate containing platinum, palladium, iridium, rhodium and gold) from the 2022 mining season at West Kytlim for later refining. A final decision will shortly be made on the optimal strategy for refining concentrate with platinum prices now trending higher."

will be kicked into the long grass.

I wonder what the definition of "shortly" is in Eurasia speak.

TDT

BoB

".....you of all people should be aware mining season does not usually start until May time unless unusually mild seasonal weather?"

You of all people should know that mining operations are all year round. The only thing they need to suspend is the gravel washing. Eurasia did say, when gravel washing at WK stopped for 2022, that they had a winter stripping programme planned. Nothing on that has been released since. In fact I don't even recall them confirming that gravel washing had commenced at WK for the 2022 season.

Seemingly lots to tell PIs but none of it forthcoming.

TDT

"As of 31st January, construction of Araguaia was 40% complete and remains on-budget and on-schedule for first nickel in Q1 2024."

Based on the above RNS of the 16h. February if first nickel will be produced 1st. Q 2024 at worst that’s 14 months away at best 11. If they still have to do 60% to complete the build (the % quoted in the RNS) then that’s an average of 4.28% to 5.45% each month. Construction work doesn’t progress quite like that but it's a reasonable rule of thumb to use. If they are going to do one of these pictorial updates every quarter then by the time the next one arrives (up to end of April, probably released sometime early to mid May) they should be somewhere between 53% and 56% (end of April) the one after that 66% to 72% (July) then 79% to 89% (October). The whole commissioning process to hit nameplate takes quite some time, 6 - 12 months, so they will not be firing on all cylinders until much closer to the end of 2024.

So far so good although FTC7 does make a valid observation regarding "on schedule and on budget" .

TDT

"Why would EUA end up like SXX? It's not even remotely similar."

Something I can agree with. Sirius at least had a proven reserve. Problem with polyhalite is the market for it was way smaller than the quantities they need to produce. That's finally being acknowledged.

https://www.proactiveinvestors.co.uk/companies/news/1007685/anglo-american-bank-asks-whether-6bn-woodsmith-mine-is-an-error-or-extraordinary-1007685.html

I have a sneaking suspicion that Anglo will either mothball the mine or switch their focus to the much shallower potash deposit. At least there is a market for potash.

The only similarity I can see between Sirius and Eurasia is both have swallowed millions in PI pension monies.

TDT

Not quite as funny as Eric and Ernie but almost.

TDT

craigieboy1

The 16th. February RNS said this:-

"This is the inaugural photo-book of Horizonte's new quarterly pictorial series providing updates from across our projects."

I take that to mean that the next update will be released 3 months after the 16th. February one which is the middle of May. Have they said they will update the end of the 1st.Q 2023?

TDT

Aubery

You're wasting your time. They've convinced themselves that Eurasia has something that can be profitably mined. No amount of reasoned argument or persuasion will convince them otherwise.

TDT

Folio/Trowtech

That's the 97.5% C2 resource. This was shown to be sub-economic a long time ago. Look at the RNS that confirmed the overburden that needs to be moved to access the deposit. If you look at the drilling reports you'll see that the deposit is very deep with narrow pockets of ore. You have to remove a large volumes of overburden to get to these narrow pockets and the grades are poor. That's the principal reason they're still in the ground. They're not economic to mine. I presume that has been discounted by you knowledgeable LTH and I also presume that your predictions of a multi billion sale are not based on this deposit so.......

What about the millions of ounces that everybody has been basing their multi billion dollar sale price estimates on? Where is that TEO because these multi billion sales estimates can't be based on this small sub-economic deposit?

TDT