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Every little helps but the gamechanger here is every fully electric car needs around 80kg of copper.
JLP is in the right place at the right time with mountains of a very scarce metal which is in very high demand. And this set of circumstances looks to be set for the long term.
GLA
Me too - been in the shadows for over 4 years :)
should read 0.5p higher
To be fair, that particular UT stuck out like a sore thumb Northman. Why would someone be paying a full 0.5p after the close when they can buy prior to the close at a much lower price? And it was a decent sized trade. Fun and games for sure.
Hi Jonah - they only do it because it works! :)
Shutts - looks like the MMs are short of stock. Old trick to close with an uncrossed trade at the close of business at a higher price. They'll open tomorrow back at the lower price and it makes people believe there's a sell off going on. Big buy order being filled perhaps but they certainly want folks to sell.
AIMHO
Interesting snippet in this morning’s RNS - “ Copper prices continue to be buoyant trading at just under $10 000 per tonne at the time of writing and with current operating margins, early earnings from copper and cobalt production are set to increase”
My reading of that is we’re already producing cobalt?
Ask yourself this, if this was such a bad RNS where was the big sell off prior to the market being informed ? Smell the coffee guys!
As people keep posting rubbish about very low grades the door opens up for the mates' rates. But hey ho, if you're not happy with your investment, hit the sell button. Simples!
BL also confirmed there will be a quarterly production update in early April so only a few weeks to go for that. Should also put more wind in our sails.
Great post Balanced66. The key thing for me is the upside from our existing Egypt portfolio which will all be funded from existing free cashflow. Remember, we have 35 drill targets with a historical success rate of 80% - yes 80%!
Absolute no brainer investment for me and I'll be adding at every opportunity. Now my second largest holding behind JLP but that may change.
GLA
Agreed Bushy, some people are invested here but quite obviously don’t understand the basics.
My advice to those people is to read the whole RNS and then start googling the bigger words.
Jazim, if you half that valuation to around 25p that would likely be a fair valuation right now based on current Egyptian production and taking the PSC into the mix. Massive upside though in Egypt so who knows, this time next year 50p might be quite achievable.
Just my opinion, good luck all.
Hi Toephur, yes, $4-$5 was the opex cost last year, if you go back through the RNS releases you'll find it. UOG must be one of a very small group of oil producers who actually generated cash last year - if memory serves me right I think the average selling price per barrel was in the low $20's so just think what we're making now.
If we do get an update regarding the current 2021 trading then I think we're in for a very pleasant surprise in terms of the uplift in PGMs basket price. The last 6 monthly update for the period to Dec 2020 showed an average basket price increase of 22% on the previous 6 month period, which looks low to me although there will be others more informed here who can be more accurate on the uplift we might expect. I do remember reading that there's a time lag between production, sale and cash price charged so not sure if that has something to do with it but what I think everyone here knows is the pgm basket price has absolutely soared in the last year or so. Happy days ahead methinks.
AIMHO
Been here for a long time and great to finally start seeing a bit of value being recognised. Should be plenty more to come, the only slight cloud on the horizon being the weakness of the dollar which is being touted to drop at least another 30% with the current fiscal stimulus being passed. Price of oil obviously more than makes up for that and volumes increasing all the time so hopefully happy days ahead.
GLA
Hi Shiner, hope you're right. They did say they were moving to 6 monthly operations updates but have since thrown in another quarterly one so who knows. All seems set fair so I'm still very upbeat about our prospects this year.
ATB
Personally, I'm not expecting any fireworks from the interims RNS. We already know the top line numbers so unless they're going to pull a large "net gain on bargain purchase" out of the hat, all the interims will do is let us know the real profit for the year ended December 2020 and we'll find out more regarding the cash position. Last year's interims didn't include anything on "post period" trading and as far as I can see it was actually July 2020 when we got the 6 month operations update to June 2020.
Hope I'm completely wrong and we get some news on current trading, particularly Roan, but otherwise I'd be cautious on the exuberance front at least for a few months as we may have a longer consolidation period ahead.
GLA
Thanks BB - hopefully Kalan's just too busy counting his JLP profits!
Hi Jolly, I asked the same question not too long ago but didn't hear anything as to Kalan's wellbeing. I remember him from way back on the ii board, very informed and measured poster. I too hope he's thriving wherever he is.
All the best.
It will, but only for a short time as it heads to £2bn and higher. Are you actually saying that a derisked JLP with multiple different projects in multiple jurisdictions, all of which can be brought to profitability years faster than traditional mining companies, will not be valued at 15 - 20 times annual earnings?
My advice is to change your name to MrWorldsFirstSurvivingBrainDonor, then go onto Amazon and buy a new crystal ball, the one you're using just now is obviously cracked. Which is apt.