Ecora Resources Share Discussion Threads

[1knocker] 07/8/2023 12:41

llb, thanks for that.
I am inclined to wait a bit longer. With this sort of thing I generally prefer to wait until the start line has clearly been passed. I'd rather pay a bit more than take a punt, especially with a state company competitor next door. They would probably be well advised to cut the state company in on a slice of the action. Influential friends open a lot of doors in that part of the world - in most parts of the world if the truth be told.

[laurence llewelyn binliner] 04/8/2023 12:20

#1Knocker, indeed, Emmerson plc (EML) your timing could be much better than mine though, they were recently unsuccessful at getting their ESIA approved at a local level, so it has been bounced up to ministerial level for permitting, they already have the mining permit for 25 years, but we suspect the ESIA is being used as a pawn in negotiations for ownership, OCP are the state fertiliser company in Morocco next door..

They already have off-take MOUs lined up for most of the product, and the funding package will be roughly 6 months from permitting as they have been working on it for a year or 2, if they sell an off take to part fund a mine build remains to be seen…

2 pence a share could be a steal, but as always DYOR which I have no doubts you will.. :o)

[flagon] 04/8/2023 12:09

Capstone Copper building copper-cobalt district in Chile

Cecilia Jamasmie | August 4, 2023 | 3:55 am News Canada Cobalt Copper

Canada’s Capstone Copper (TSX: CS) is moving forward with its ambitious plan to create a mining district in northern Chile with the integration of its Mantoverde and Santo Domingo operations in Atacama region ... etc


Link :

[1knocker] 04/8/2023 12:03

llb, I seem to recall that you posted sometime back about an African potash company.

Am I right and if so what was it and how is it doing?

Natural fertilisers should be a good long term bet, and are not much in the news at present. a buying opportunity?

[888icb] 03/8/2023 08:01

2nd RNS this morning:
“3 August 2023
Ecora Resources PLC
("Ecora" or the "Group")
Completion of Acquisition
Further to the announcement on 24 July 2023, Ecora (LSE/TSX: ECOR) announces that it has completed the acquisition of a 0.25% Net Smelter Return royalty over all metal production from the open pit of the Vizcachitas copper project in Chile, owned by Los Andes Copper Ltd.”

[masurenguy] 03/8/2023 07:51

Some recent modest share purchases by 3 directors.

[the deacon] 31/7/2023 13:56

That's what's playing out in the royalty and streaming space right now. The majority of deals I can think of this year have been copper royalties. Ecora, Osisko, Royal Gold, Nova, Elemental Altus have all been on the copper royalty acquisition trail this year.

[1knocker] 31/7/2023 13:21

I have read - can't recall where - that copper is likely to be in over supply for the rest of this year. Chinese construction is what has underpinned demand (and price) for decades, but that has fallen away. The big question is whether (or at least when) electification is really going to take off and put pressure on copper supply. In the meantime, there should be a window for acquiring copper royalties at a reasonable price.

[laurence llewelyn binliner] 31/7/2023 07:41

A 5.75% return on todays price is still fairly good, sector leading for a RS company, but with risk free returns not far off now, it could do with a review for sure..

[cocopah] 30/7/2023 07:43

#Sheoc yes you’re right but you knew what I meant … decreasing value of the divi in sterling whilst the company treads water (at best) on income for 2yrs.

[the deacon] 29/7/2023 12:49

*something to keep an eye on

[the deacon] 29/7/2023 12:47

Regarding Nova Royalty, I note that they announced a couple of months ago that they were undertaking a strategic review if how best to maximise shareholder value. Among other options, that could mean merging with a larger entity. Nova have some very interesting copper exposure. They have royalties on 5 of the 10 biggest open pit copper projects in the Americas. Their royalty on Taca Taca (being developed by First Quantum and slated to go into construction next year) is expected to deliver circa $8m (at circa $4 copper) per year for the current 32 year mine life. Majority of the rest are still some way from cashflow, but nevertheless I'm sure ECOR (and possibly TRR) might have a look at whether it's a fit. Something I keep an eye on

[shepc] 28/7/2023 11:18

Think that's £0.01664 or 1.664p / shr

[cocopah] 27/7/2023 17:14

Dividend now equates to 0.016664p a quarter now. 😫😫

[flagon] 27/7/2023 09:24

Received my dividend in IG & Interactive Investor ISAs yesterday.

[astreix] 27/7/2023 09:20

Anyone knows when is the dividend payment due? Thought it was 26 Jul - however can't see any credit in my IBKR account.

[1knocker] 27/7/2023 00:25

cocopah, if your average is around 128, you will be one of the more fortunate (wiser) ones here. Mine is in the mid 130s, and would have been higher still but for a bit of trading out and back in lower. Unfortunately my first (and highest priced) purchase here (about a decade ago!) was at a disastrous 180. Not enough investigation prior to hitting the buy tit. My next (and lowest) was at 82 !

I have learned to be very sceptical of any price approaching 200, and sell if and when we get anywhere near that magical figure. Its a long way off at present, unfortunately.

We do seem quite well placed to capitalise on the green mania though and royalties are the place to be when production costs are feeling inflationary pressure, so i would want at least 165 to consider selling out. Unless of course the management screw up right royally. I was not at all happy to see the coal royalties disposed of - a costly bit of virtue signalling - but, subject to that major blot on their copybook, they seem to me to be doing OK at present. A solid balance sheet with low and reducing debt is always reassuring.

[laurence llewelyn binliner] 26/7/2023 18:36

#1Knocker, indeed, the last 1.75 pence beat todays 1.66 pence down to the FX conversion so it is pertinent, and some thing the company need to keep sight of now we get our income in USD, report in USD, and payout in USD, it does make sense to keep it all the same currency, but as investors we do not want to see much more of a GBP decline through the FX.. still 5.6% at todays share price though..

[cocopah] 26/7/2023 18:13

#1knocker … my sentiments entirely. I can get a better return from a time deposit now without the hassle … I was hoping the share price would get in touching distance of £1.28 so I could get out and sell my remaining shares at somewhere near parity … unfortunately it looks as if I’ll have to keep them and the dreary return or at least 24 months!

Do you remember the days when the board was saying they were looking for an accretive deal?😫ԍ15;

[1knocker] 26/7/2023 16:08

We as sterling investors may need to start thinking harder about exchange rates. The dividend, though welcome, was down for sterling investors. That will go for ECOR's income streams too.

[laurence llewelyn binliner] 26/7/2023 15:39

#The Deacon, our terms - 0.25% NSR over all metal production from the open pit..
+0.1% NSR for a 2031 delay or USD15M cash
+0.1% NSR for a 2032 delay or USD15M cash

But also ECOR is entitled to a 0.125% NSR on production from any future underground mining operations +.05% for each year if they miss the above timeline..

Nice back up lock in there, we could end up with 0.45% OP + 0.225% UG over the lot.. :o)

[the deacon] 26/7/2023 14:28

I see that Nova Royalty also have Vizcachitas in their portfolio:0.98% from open pit production, and 0.49% from underground production. These claims cover approx 50% of the mine plan

[quepassa] 26/7/2023 08:15

those are dreary figures and performance.

...and you know it.


that's just the Trading Update.

wait for the formal results to get the full picture.

ALL IMO. DYOR.
QP

[the deacon] 26/7/2023 07:47

Yes, I'll certainly be looking to add on significant weakness

[laurence llewelyn binliner] 26/7/2023 07:33

#The Deacon, still USD15M for the quarter which is fine, and 44 YTD, Q3/Q4/H2 is looking light as Kestrel is deferred out to Q1, but this is only deferred as you say, which gives us a strong start to FY24, then the VB ramp up to come for starters..We could see some share price weakness on todays results and the H2 outlook, but the story is so much more about what we are building looking forward into 25/26 as WM and others begin to add income as Kestrel winds off..Still no credits for the Narrabri divestment I note..?