You missed my comment about ECOR being part of a much wider royalty and streaming portfolio. Good luck to you too QP. |
but you were bullish three years ago when it was 190p - and where has all that blogging got you?
couldn't you have used your time more profitably on other investing opportunities
anyway, each to his own and good luck to you. |
Quite happy to squander my time thanks QP. From my point of view, I'm a fan of the royalty and streaming model, I own the vast majority of the companies in the R&S space of which ECOR is one. ECOR looks a lot more attractive at sub 60p than it did at £1+. There's a lot to complain about regarding ECOR and the way it's run, but there's elements to be bullish about too. |
It's neck-and-neck.
out of 1053 posts on this thread
-LLB has posted 236 times
-The Deacon has posted 226 times
together accounting for approaching 50% of all posts.
The question for the two gents is whether this is an uncontrollable obsession or whether they really, really, really don't have anything better to do than squandering their precious time on this |
Brief mention of ECOR alongside a handful of other small royalty co's from Matt Geiger - during this past weekends KE Report. He's been calling for some consolidation for quite a while, and continues to do so. Wouldn't be a bad thing, I agree. Scale matters in this business. |
they seem to spend money too liberally like its not their own a bit like those clean energy infrastructure REITs that invested in solar/wind/under sea cables..etc |
Interesting readhTTps://theoakbloke.substack.com/p/ecor-rigible |
Yes, with the Mimbula deal being relatively front loaded it does help to bridge the gap - but there's still that period of time between the substantial Kestrel cashflow running off and the chunky assets such as Santo Domingo, WM and Piaui coming online. On a 5+ year outlook (assuming metals prices don't crater) I struggle to find a more attractive copper pipeline/portfolio as far as the royalty and streamers are concerned. I don't doubt that ECOR will do well when the aforementioned projects start producing, but that's still some time away. In the meantime, there should be an improving picture at Voiseys Bay and at Mantos. |
Thanks #Deacon for the webcast link. I finally had time to have a listen today. Apart from taking on more risk and and debt to ‘secure’ income to pay down the increased and existing debt, there doesn’t appear to be much in the way of growth here?
Reading between the lines, it looks as if the squeeze on income over the next couple of years (which we were expecting anyway) is the driver. With Kestrel in the rear-view mirror, West Musgrave mothballed and Piaui far from a certain goer … I am struggling to see where next for Ecora.
Luckily, I reduced my holding by a substantial amount, but of course I’m still sitting on about 50% downside.
Given my comments above, am I missing something here? |
https://stream.brrmedia.co.uk/broadcast/67bf2e37118fdd713472228aToday's webcast |
You may be right. I'm not jumping for joy at this one for sure. |
Looks like desperation to me. Increasing debt in the hope of accretive income in a less than quality jurisdiction. Copper concentration risk also being embedded in the portfolio. |
New acquisition. Trident (now Deterra) have a royalty on Mimbula. It struggled to surpass the minimum payment schedule throughout it's time with TRR. Hopefully things improve operationally going forward. |
A good read on Cyprium's Nifty copper asset.ECOR has a 1.5% royalty.https://im-mining.com/2025/01/23/cyprium-metals-enlists-help-of-macmahon-for-nifty-copper-complex-recommencement/ |
Not insignificant activity on Ecora's 2% NSR footprint...https://www.prnewswire.com/news-releases/nexgen-commences-expanded-43-000-meter-drill-program-at-patterson-corridor-east-302364118.html |
Today we released our Q4 2024 trading update. Highlights include:? US$6.7m. Q4 portfolio contribution?9% increase in full year portfolio contribution, totalling US$63.2m.? Record levels of underground production fromthe Voisey's Bay Mine? Record quarterly Mantos Blancos contribution of US$1.7mFull release: londonstockexchange.com/news-article/E... |
I'm quite happy to add around here, and have been recently. Patience required. |
A triple bottom at 60 pence should be bullish from a TA, but anything can happen in the current bond debacle with rates rising and inflation sticking..
Hold and wait.. :o) |
One needs to be patient but this looks very much like a bottom at 60p. Any other views? |
20 Mining Companies to follow for 2025 Part 1 (A-E) https://total-market-solutions.com/2024/12/20-mining-companies-to-follow-for-2025-part-1-a-e/ |
Today's FT, page 2 article with photo of Julian Treger.
See FT article for full text and full context.
Cold-shouldered.....
ALL IMO. DYOR.
QP |
 I agree. Rick is right in so much as on a forward looking basis Ecora is cheap - assuming Santo Domingo, Piaui and West Musgrave get into production. The elephant in this particular room, however, is the management. I wasn't particularly enamored by MBL's appointment when Treger left, and I think that's been proved right. It's funny, as I agree with what Rick Rule has often said about the management teams in the royalty and streaming space. The royalty and streaming model has attracted and developed some of the very best in the business. ECOR seems to the exception, unfortunately. He mentions Altius Minerals in the interview. I've had Altius in my portfolio since their COVID-related knockdown around $8. They've an exceptionally switched on team who understand how to grow a royalty business. It is possible that ECOR gets a bid from another player, but that'll only be down to the inability of the current team to extract value for shareholders. I've said before, some of the nickel, cobalt and copper assets in the Ecora portfolio are amongst the most attractive royalties and streams in the diversified and mid tier spaces. I dislike the feeling of the 'job done' attitude that i pick up from this management team - particularly the CEO. As QP points out, the value destruction here is completely the opposite to the performance of Ecora's closest peer. |
Share price performance over twelve months:-
19/12/23 - 95p
19/12/24 - 63p
Negative Performance of c. minus -33%
..hmmmm
not good.
all imo. dyor.
qp |
Thanks for the link Mattybuoy.
It was not a well researched piece.
Just a view, on a cheap investment in mining royalties companies.
Everybody's got views, but a bit of research would have been handy.
Stay Prosperous.
Santos123 |
Thanks Mattybuoy |
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