Member Info for Unprecedented

We could do with that 2nd tranche starting

375k for me

Seen this so many times. Big rises in the US not followed up in the U.K…. Think that the Puretech board are fed up with this as well - it may have been one of the drivers for talking to Nektar recently. Wouldn’t surprise me if they were to move the primary listing to the Nasdaq at some point.

Recession fears have driven down the price of iron ore - but that has meant that Chinese steel co-producers are now increasingly substituting local lower grade ore (generating lots of vanadium) with imported iron ore reducing vanadium supply in the process

I was trying to picture the very substantial upside in the near term. All we have to do is produce to capacity. And yes there are some risks but I had assumed that a poster going by the name RiskIsReward would appreciate that.

It’s what we will be producing next quarter as confirmed by the company just last week

You only have to compare our market cap to that of Syrah Resources. Syrah has 44k production per quarter compared to our 6k. And it has an 890m (gbp) market cap compared to our 34m market cap. So based on Syrahs valuation our market cap should be in excess of 120m. And that’s before we increase our production to 86k per year by 2024….

Bharat Chowira used to work for Nektar…
https://www.evaluate.com/node/18268/amp

I don’t really understand the drop or the negativity. We have not seen any terms. It’s clearly a merger rather than a take over. Our market cap is higher and our intrinsic value is much higher on the face of it. But you would assume that will be reflected in any terms proposed. There is definitely synergy to be had. Our board would be wrong not to listen to any offers forthcoming and if it doesn’t recognise our potential we can walk away. This only gives us another option to consider.

Our board should be in an excellent position to value their immuno pipeline - perhaps better than mr market - could be undervalued after their fiasco earlier this year

My thoughts exactly Dallo

Introductions made by Invesco?
https://www.morningstar.com/articles/1113594/a-bold-fund-blindsided-by-a-biotech-blowup

Sea borne iron ore volumes holding up and port inventories slipping would suggest Chinese steel co-producers are now increasingly substituting local lower grade ore (generating lots of vanadium) with imported iron ore. This is what typically happens when iron ore prices dip below $100. So vanadium production in China likely to be heading down. Add to that the exponential increase in vrfb installations in China and steel rebar inventories now more than 30% below last years levels at this time of year and we have all the conditions of a sustained vanadium price spike.

https://www.hellenicshippingnews.com/iron-ore-navigates-choppy-seas-amid-some-positive-china-signs/

https://www.marketscreener.com/amp/quote/stock/HORIZONTE-MINERALS-PLC-4006080/news/IIROC-Trading-Halt-HZM-41926700/

Dallo - I was referring to the Alzheimer’s breakthrough yesterday which was all over the news:

https://www.ft.com/content/531636df-e937-41f5-81c1-5195fb4acd9b

All biotechs working on amyloid based drugs got a boost yesterday and Puretechs work in this area is one of the most exciting. The article from last year was to provide some background.

Dollar rate should boost our share price in the long term but this tends to be hit and miss for smaller companies - it hasn’t made a difference for any of my other small company investments. Also the re rating yesterday was a bit too large to be explained by currency movement especially on a day that the dollar went down a bit against the pound

Looks like we got a boost from the Alzheimer’s amyloid clearing drug breakthrough today….https://endpts.com/puretech-turns-200-year-old-discovery-into-a-new-approach-to-alzheimers-while-clinging-to-controversial-amyloid-hypothesis/

Well I’ve bought some more for my sins. We’re firmly in the black and if we hold off on any more capital expenditure we will make a tidy profit over the next few years, especially with the electrolyte facility coming online. Only negative is the reduced output from Vanchem but we can hardly blame Bushveld for the ongoing load shedding in South Africa. It seems to me that things can only go up from here.

@mb you have no information to base this statement on. That rns was phrased to scare deliberately but no one knows what the real situation is

I wonder whether our chairman Brad Mills who owns a big chunk of Ramblers through his private equity firms is planning to step in to take this private. Someone was definitely hoovering up shares during the fall - it was far too easy to sell big chunks. And all the doom mongers on this forum (incl. the told you so twats who sold up but still feel the need to contribute here) are aiding and abetting him to get this at a hefty discount…

Sandfire has announced positive news flow, too. Earlier this week, the Australian group released a positive definitive feasibility study for an expanded 5.2m tonnes per year mining operation that combines Sandfire’s T3 Copper-Silver and A4 projects at its Motheo Copper Mine in Botswana. The economics are compelling even allowing for a 9.5 per cent upward revision in the projects capital’s costs. That’s because Sandfire estimates an all-in sustaining cost (AISC) of US$1.79 per pound of copper, or half the current spot price, which produces a net present value of $548mn (7 per cent discount rate) over a 10-year mine life with peak annual production of 55,000 tonnes of copper-in-concentrate. Sandfire has already invested almost half of the US$397mn of the project’s development costs, and has secured $140mn of project debt finance facilities with a syndicate of banks.

Metal Tiger’s holding in Sandfire aside, the company holds a 2 per cent net smelter royalty (NSR) on the A4 project, which has been conservatively valued at £9.7mn (5.7p a share) in its accounts, and a capped NSR over the T3 project (carrying value of £1.3mn). Royalties from A4 could be worth $8.9mn (£7.7mn) a year to Metal Tiger (at an annual production rate of 3.2mn tonnes and a copper price of $9,000 per tonne – consensus forecasts on Bloomberg for period of production), highlighting the potential for a massive uplift in the value of this investment. Moreover, Metal Tiger has several other potential copper targets owned by Sandfire in Botswana that are subject to uncapped NSRs.

Although Metal Tiger’s share price has rallied 22 per cent since I last highlighted the glaring valuation anomaly (‘Exploiting a valuation disconnect’, 20 June 2022), and is 48 per cent above the entry point in my 2020 Bargain Shares Portfolio, it is still trading around 20 per cent below my spot NAV estimates. That’s a harsh valuation. Buy.