Member Info for TrickyDicky2

Nickel in the LME up by a fair old chunk today.+1,026 tonnes. Haven't seen that sort of move for some time.

TDT

Nonsense.

TDT

An anti mining government, Sami and environmental lobby didn't stop Beowulf getting approval for their iron ore mine. Their mine has a much bigger footprint and is in a far more sensitive location as well.

Whether the Zambian government is supportive of mining or not isn't the issue here. Tertiary do not have anything worth mining and the recent RNS naming First Quantum is, as Zak Mir says, nothing more than Tertiary trying to "rehabilitate its credibility." They've got an awfully long way to go before that's going to happen.

TDT

Possehl wanted to cooperate with Tertiary on a couple of their fluorspar licences. That was a fact and it was very good news as well.

Until it wasn't.

TDT

"......as the company rehabilitates its credibility."

He's having a laugh, right?

TDT

Does anybody remember this?

https://www.proactiveinvestors.co.uk/companies/news/187951/tertiary-minerals-rejuvenates-fluorspar-operation-through-tie-up-with-possehl-187951.html

Sound familiar?

If memory serves me correctly the strategic tie-up with global commodities group Possehl resulted in the middle of a polo mint.

TDT

Oh, you mean back in May 2015 when nickel was about $13,500/tonne and falling? At that point or anywhere after! And tell me, how do you see that happening with the price of nickel for most of the period since May 2015 being in the toilet?

rhmcinty, natural though it is to whinge when something doesn't play out they way you want the least you could try and do is make your whinge credible.

TDT

"Plenty of opportunities to make money......."

Money isn't being made here its merely being shifted around and its being done off the back of a snake oil salesman who never delivers.

".....another issue is humans appetite for greed."

That's not the issue here. The issue is more one of whether you feel comfortable participating in an enterprise that's little or no different to a ponzi scheme.

I think it all boils down to how low some people are prepared to sink. Companies like Red Rock will be the death of AIM.

TDT

".....they could have done that years ago in a better environment...."

Really! And when would have been?

TDT

The actual spread is not 0.175p but 0.075p or about 6% so not that wide.

That doesn't mean to say that news isn't about to drop though.

TDT

Ant1986

"Any1986"

Oooooops

TDT

Any1986

"I've thought the Nickel price is way too volatile recently, I actually imagine the true price is already north of what's being portrayed."

On the contrary. The price you see quoted on the LME/Kitco is a class 1 price. As the article Hazbeen posted says the price for NPI is way south of that, about $16,000 per tonne versus $24,000/tonne for class 1. The price for the sort of ferro nickel Araguaia will produce will be somewhere in-between, probably $20,000 to $22,000/tonne (there are a couple of web sites where you can get more accurate prices for the various different nickel products).

LME stock and price aren't what's driving the price for NPI or ferro nickel. These products have their own market dynamics. That doesn't mean to say that demand for class 1 nickel isn't relevant. Vermelho makes demand for class 1 nickel for us very relevant.

TDT

""This Agreement will turbo-charge Tertiary's Zambian exploration......"

Really.

They had £600k the end of March. Look at what they've been pizzing their money away on since then. Placing on the way IMO. That's why they need to "turbo charge" the share price. Seen it all before with this one.

TDT

Hazbeen

I don't think there is anything earth shattering in that article.

"Volumes may well be down because there is still a certain lack of trust in the LME after the debacle in March,"

Not rocket science that, is it. If you have a market but it doesn't do what one of your principal participants wants/expects, if you then cancel trades in that market to keep both them and their banks happy you're going to lose trust. The LME is Chinese owned. Tsingshan is Chinese, a number of banks involved are Chines, the China's state reserves administration which holds 100,000 tonnes of class 1 nickel was asked to help out. Lack of trust! Hardly surprising.

Apart from that an increasing proportion of the nickel market isn't class 1 nickel so it's not handled by the LME. The prices quoted for NPI and various ferro nickels are of more relevance to the market than LME class 1 nickel in its various forms.

".....additional measures to address the growing market in nickel and its different forms" the exchange told Reuters.

That's a bit like shutting the stable door.

TDT

Nickel stocks in the LME dropped by a fairly meaty 936 tonnes today. That's the largest single daily drop for quite some time. Could be off the back of the fire at Norilsk or it could simply be a pick up in demand. The rest of the week should be interesting.

TDT

"......but business was still done"

For sure but not by an AIM listed minnow like Amur. I used to work for a company that regularly did business in Iran despite sanctions. A large proportion of the world's "T" shirts are made in sweat shops in North Korea despite sanctions. Business finds a way to circumvent restrictions if there's a profit to be made but its usually done in the shadows and not by small listed companies totally dependent on the equity markets for cash.

TDT

MadMat

Even if peace were to break out tomorrow Russia is going to take a very long time to shake off its pariah status. Russia was never an easy place to do busiess before the invasion of Ukraine. Its now off limits for western companies and is likely to remain so for many years to come.

TDT

We’re not selling a mine. Before KM can become a working, producing mine it will take several more years and over $1.4B.

TDT

1st. November for the transaction to complete and for $35m to be paid then a divi to be paid after that within 90 days. In theory this could run into January 2023.

TDT

It is not unreasonable to see a 20% increase in throughput to circa 1,000 tpd in the coming months and a 20% increase in head grade to 7.2 g/t. If both these targets are reached Pure should be producing somewhere in the region of 6,600 oz. of gold per month. If 4,600 oz. per month is break even then we should be seeing 2,000 oz. per month, less opex, at $1,700/oz., US$3.4m cash into the coffers (or at least paying off debt). A lot of "ifs" but 1,000 tonnes per day is their target and 7.2 g/t is well below the reserves grade.

So far so good.

TDT