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Follows on from Chinese restrictions on Gallium and Germanium exports. What is next?
We are all waiting for the EA and Council to decide whether the plant can operate and whether sufficient lorries can access the site. Clearly TUN offers the best source of a critical metal for the Western world, so it is surprising that it is taking so long to resolve these two issues.
The outcome(s) of the feasibility study will be another focus. The recent increase in JORC resources can be used to model extended mine life or an increase in throughput, both of which are positive for the project NPV.
Looks very encouraging. I hope they can avoid dealing with the UKIB
Given the ANGS's financing costs are extremely high, would it not make more sense to sell the 25% stake in Balcombe and pay down some debt?
SPA's valuation per share is now 48p..........................................
Good to see VBR out in force at South Crofty today. Sir Mick gave an enthusing speech and pressed the "official start" button for the de-watering plant. It them poured with rain! Good to hear that unofficially it has been de-watering for some time now. The feasibility study is progressing well and two rigs are drilling on the 9km exploration programme South of Carn Brea.
Fingers crossed for finding more "Blue peach"
Re the RNS comment about 1p and 0.66p. I wonder if Kemexon and all its associates were banned from short selling or other ways of manipulating the share price when the negotiations took place?
Mumbles2021 Thank you.
Https://www.bbc.co.uk/news/topics/cxwdwz5d8gxt
It was a good move to reduce the hedge it seems. ..................
Great thoughts Sun Drum, and interesting observation Smartpunter. Thanks to you both.
IPO was at 8p if I remember correctly.
My guess is that a vendor who was paid in shares and was tied in for 12 months is in the process of cashing in their chips. I think the tin price is a little higher than it was a year ago, the indicated and inferred reserves are much higher than they were on IPO, the Water treatment plant is now in place and has gone through commissioning and the official commencement of de-watering + ceremony is this week. The CUSN team at SC has proved itself extremely capable so chances are the true value of the company is much higher than at IPO. Perhaps some investors do not want to wait for the commencement of mining but that gives those with a longer term investment horizon an opportunity. We will soon hear about the feasibility study which will hopefully bring good news - and perhaps further increases in reserves.
Bear in mind also that CUSN has a big backer -VBR -who having come this far is unlikely to walk away.Sir Mick clearly thought CUSN shares were a good deal at 18p because VBR invested £25m at that price. Recent moves by the Chinese over Gallium, Germanium and in the last few days Graphite for anodes have emphasised the need for Western resilience in critical metals - tin being one. So much has changed for the better - an opportunity indeed.
SmartPunter
I had a look at the list of RNSs, and there does not appear to be one making an announcement of ATF funding in July 2022.
Would you provide a link to a previous announcement of this grant?
SunDrum
Please elaborate.
Another historical one
https://www.thetimes.co.uk/article/cornish-tin-found-in-israel-is-hard-evidence-of-earliest-trade-links-wg8qt6hhj
If not a clear run, this certainly gives Vanadium flow batteries a huge boost.
China has just announced that it plans to impose export restrictions on two primary graphite products crucial to the EV anode sector. The ban is similar to the restrictions placed on Gallium and Germanium exports in July 2023.
Resilience will be rising up the political agenda even if the civil service are WFH. Companies like ALK and PRE offer some answers to the problem.
Hi MO thanks for the posts.
China has just announced that it plans to impose export restrictions on two primary graphite products crucial to the EV anode sector. The ban is similar to the restrictions placed on Gallium and Germanium exports in July 2023.
Resilience will be rising up the political agenda even if the civil service are WFH. Companies like ALK and PRE offer some answers to the problem.
HI MO
Seen this report?
https://www.bbc.co.uk/news/business-67149907
From the Telegraph today
https://www.telegraph.co.uk/business/2023/10/18/north-sea-oil-dependent-foreign-regimes-energy-secretary/
North Sea decline leaves Britain ‘subservient to foreign regimes’, says Energy Secretary
Claire Coutinho argues production will fall faster than demand without new drilling
Britain's Energy Security and Net Zero Secretary Claire Coutinho
Claire Coutinho has criticised Labour's plan to halt new North Sea drilling Credit: OLI SCARFF/AFP via Getty Images
Britain will become “subservient to foreign regimes” if it allows the North Sea to decline further, the Energy Secretary will warn on Wednesday.
Claire Coutinho is to raise concerns that the UK’s oil and gas output will halve by 2030, leaving it increasingly dependent on imports. Speaking at the annual conference of Energy UK, a leading industry trade body, Ms Coutinho will say: “New data from the North Sea Transition Authority (NSTA) in its Wells Report, warns that – without new oil and gas wells in the North Sea – output will halve by 2030. “The real-world consequence of this would be that this country would be forced to import up to 80pc of our oil and gas by 2030.
“The UK will not only be subservient to foreign regimes, but we risk decimating the same people and communities that we need to come with us on this green transition journey.”
Coutinho will say the UK is cutting its consumption of oil and gas in line with its targets for net zero, but without a new offshore drilling programme, production will fall much faster than demand.
That will create an energy gap that can only be met by increasing imports – meaning billions of pounds leaving the country and reduced energy security.
Data from the NSTA shows that the number of oil and gas wells in UK waters fell by 83 in 2022. The country now has 1,629 in total, compared with 2,052 in 2019.
Another 938 potentially productive wells have been mothballed, as Britain’s oil production also fell to an all-time low of 38m tonnes in 2022.
The NSTA data referenced by Ms Coutinho in her speech suggests it will plummet to 22m tonnes in 2030 unless new wells are drilled.
The UK consumes about 61m tonnes of oil annually.
north sea oil
Britain faces importing 80pc of its oil and gas without North Sea production Credit: CARINA JOHANSEN/NTB Scanpix/AFP via Getty Images
Gas production fell from its 2002 peak of 109bn cubic metres (bcm) to 38bcm last year.
Without new wells, that will halve again to 17bcm by 2030, the NSTA warns. The UK needs 76bcm annually.
Ms Coutinho, appointed just weeks ago, has criticised Labour’s pledge to halt all new drilling in UK waters to reach net zero by 2050.
She has said North Sea waters still hold enough oil and gas to support the UK for up to three decades.
Labour has confirmed it will block all new domestic oil and gas developments if it triumphs at the next election, proposing instead to invest heavily in renewable sources such as wind