Anglo Pacific Share Discussion Threads

[madengland_] 15/7/2021 19:22

Sounds like a bunch of bloody communists.

[quepassa] 15/7/2021 18:38

Additionally, the existing Spanish government is a left-wing coalition between PSOE and Podemos.

PSOE is the Socialist Party and Podemos is the hard-left party which has been staunchly campaigning for several years for Spain to sign the Treaty on the Prohibition of Nuclear Weapons.

It is perhaps not surprising therefore to see that Berkeley did not receive its permit to start the uranium mine.


ALL IMO. DYOR.
QP

[quepassa] 15/7/2021 18:29

Correction.

Stop Uranium is anything other than a group of "city intellectuals".

It is a vast nationwide grass-roots movement counting millions of supporters throughout the Iberian Peninsula who are firmly anti-nuclear.

Political parties are not concerned at disenfranchising a group of city intellectuals but are very worried about the prospect of potentially losing hundreds of thousands, if not millions, of grass-roots votes by supporting new nuclear-related initiatives.


ALL IMO. DYOR.
QP

[piedro] 15/7/2021 18:13

re: the Berkeley Energia crisis
I think some clarification is needed on the comments to date ...

LLB 12 Jul 21 - 22:41 - 10831 of 10844
"So the BKY royalty will stand while permitting is ongoing, but we do not now hold any equity.."


From the same quoted Results for the year ended 31 December 2020 {14/04/2021}
Share buyback
In addition to the total proposed dividends for 2020 of 9p, we returned a further 2p to shareholders in the form of a £5.0m share buyback programme between September and November 2020. The buyback was financed through the partial disposal of our holding in Berkeley Energia, whose share price had doubled at the time.


Concerning the permit ...
illiswilgig13 Jul '21 - 07:21 - 10833 of 10844
"The refusal of the final permit does appear likely to be a political move in response to long term and vocal local opposition."

Reading the non-Socialist Spanish press I think that you will find that the 'local' population were in favour of the project and the objectors were a group of city intellectuals under the banner of Stop Uranium

AIMHO and please DYOR

[laurence llewelyn binliner] 15/7/2021 17:33

Q2/H1 update possibly next week.. ? and we get to see where we are ... :o)

24.07.2019
24.07.2020

[wbodger] 15/7/2021 17:17

Thanks LLB for the info in #10831 re Berkeley Energia. It looks like a good move to sell when they did, especially as it was to buy back shares that cost an average of 108 that are now trading at 139. This is from the CEO's Statement in the 14/04 Results RNS which you provided:

Share buyback

In addition to the total proposed dividends for 2020 of 9p, we returned a further 2p to shareholders in the form of a £5.0m share buyback programme between September and November 2020. The buyback was financed through the partial disposal of our holding in Berkeley Energia, whose share price had doubled at the time. Over the course of programme, we acquired an aggregate of 4,629,703 shares at a volume weighted average price of 108p per share. The shares acquired under the programme have been retained in treasury and provide the Group with additional liquidity to finance new transactions.

(It's near the conclusion of his Statement. Search for Berkeley Energia ...)

[dartboard1] 15/7/2021 13:32

Operator of the Narrabri mine released their qtr report yesterday. 4.5Mt compared to 5.3-5.5 forecast previously. The coal price will prop this up a bit. They are making good progress on the extension project, with 2 more stages (assessment, recommendation)... mining friendly state and federal government should recommend this and extend the life to 2045. Would expect APF to then sell this on after approval

[laurence llewelyn binliner] 14/7/2021 19:42

#Cocopops, yes the dividend is around GBP8M to come out of the pot, but the deferred payment keeps us inside the new loan covenants, it will be a juggling act for the rest of this year, but we can start to make headway on capital repayments very shortly..

We can see the cash/debt position very soon in the H1 financials post the VB acquisition, but it has been carefully planned I am sure..

We also have/had the CND50M LIORC position if we need to liquidate it for buying into INCOA, as I am expecting to see tranche2 payable about now after Orion funded tranche1, and ours was due as soon as they were operational, this happened 23.06.2021 so could have landed inside our Q2/H1 tbc...?

Another royalty inbound.. :o)

[edit]... Cobalt USD 52,500/tonne and rising..

[cocopah] 14/7/2021 19:14

LLB the divi will account for c£8m of the income this quarter … what about servicing or reducing the debt? Like you I’m hoping for north of £10.5m this quarter, think debt is £70m (?) … do you think we’ll sell a bit more of Labrador or just keep servicing it? 🤔

[laurence llewelyn binliner] 14/7/2021 11:36

#Dartboard1, sales this year look pretty much level with last year so far, but prices have outperformed so we should see some strong income..

2019 Kestrel saleable coal production volume was 6.73 MT
2020 Kestrel saleable coal production volume was 5.66 MT
2021 Kestrel saleable coal production target is 5.74 MT

APF revenues will decline as the royalty area panels mined are being depleted, I can not say how far into the current panel Adaro are but we should have a few years left to go yet..

I have GBP 10-11M pencilled in for Q2, but there is room for upside..

[dartboard1] 14/7/2021 10:55

LLB, thanks for the numbers you posted a few weeks ago. On Kestrel, Given coal prices are way up on 2020 and they should be hitting the mid rate royalty for YTD and the 15percent royalty over the last few weeks, I'm pencilling in a beat on last year. What am I missing on Kestrel, on the call they noted they expect kestrel to wind down and more of a focus on narrabri, why are they downbeat on kestrel when it's still got 170 in reserves

[madengland_] 14/7/2021 09:53

No but....

[johnrxx99] 14/7/2021 09:49

Yes but.....

[masurenguy] 14/7/2021 08:30

"The Company's announcement on 30 June 2021, disclosed Mr. Treger's intention to retain at least 75% of his pre-existing beneficial holding of Shares."

[laurence llewelyn binliner] 14/7/2021 08:29

As stated JT is to retain at least 75% of his holding, so at 79% today with this sale, worst case 4% or 150,000 shares to go which will be soon or not at all before the Q2/H1 update as the directors will be in a close period..

The close period is typically regarded as the one-month period preceding the release of a company's quarterly results, and the two-month period before the release of its annual results.

Soon enough we will see the impact of VB adding to income, and our rising commodity basket.. :o)

[johnrxx99] 14/7/2021 08:09

While I'm sure he is thinking of his money, I'm very disappointed he didn't place or sell in one go. This dribble is not helping confidence in him or the company.

[illiswilgig] 13/7/2021 07:21

According to the 2020 interim report the carrying value of the 1% NSR on Salamanca is held at £2.3m. Cost appears to have been A$4.1m back in 2009??? according to an internet search.

I am surprised they didn't write it down before but the NSR asset value is not significant, more of an option on success to my mind. Which now looks a lot more unlikely. Most likely outcome is that they write this down in the FY accounts, but no impact on the interims?

The refusal of the final permit does appear likely to be a political move in response to long term and vocal local opposition. It may turn out that the decision is rescinded on a legal fight or it may turn out that entrenched local opposition wins out, not pretty either way.

To be honest I feel for both sides. Apparently uranium is an important part of the move to renewables (though I am not very convinced of this) but none of us want it mined in our backyard?

looks like APF selling a good chunk of their holding to fund the buyback was another good move?


cheers

[cocopah] 12/7/2021 23:07

Cheers LLB … if the net smelter royalty stands then how much investment is there? I’m a bit confused.com😂;

[laurence llewelyn binliner] 12/7/2021 22:41

#Cocopops, I looked for info on this earlier, I recall reading the stake in BKY/HZM were both liquidated as part of the VB funding package.., but have not located the RNS just yet...

[edit] from the 14.04.2021 RNS

GBP4M of non-core asset disposals, mainly Berkeley Energia and Horizonte Minerals shares, to majority finance the share buyback..

So the BKY royalty will stand while permitting is ongoing, but we do not now hold any equity..

[cocopah] 12/7/2021 22:17

Has APF still got a c17% equity interest in BE and a net smelter 1% royalty in the Salamanca project, still in pre-development? I think the original investment was A$4.1m. Presumably this is now ‘frozen’ pending a change in government?🤷‍♂ᥧ9;🤔

[quepassa] 12/7/2021 14:29

Berkeley Energia tanks 44% on negative permitting news.

[dogberry202000] 09/7/2021 11:34

Interesting tweet from APF the other day with a chart on related energy metalshttps://twitter.com/AngloPacificPLC/status/1412364224253378560?s=09

[cocopah] 08/7/2021 17:11

Pretty resilient day considering ex-div and the market worries over inflation today. Looking forward to the update in a couple of weeks, don’t want to count chickens and all that, however this looks a promising base from which the share price might progress. Thoughts from any of you chartists out there? 😎🤷‍♂️

[laurence llewelyn binliner] 07/7/2021 14:34

Not the best time to sell shares a day or 2 before XD, but there are not many opportunities for directors to sell when they are out of a closed period, frustrating for JT to miss his 3.75p per share, but he’s still got a few Million left to take his mind off the missed ones...

Dividend now in the pot... :o)

[cocopah] 07/7/2021 08:32

RNS . The divorcee is impatient! 🤔🤔