Ecora Resources Share Discussion Threads

[laurence llewelyn binliner] 05/3/2024 18:27

24.04.2024 for the ECOR Q1 update, hopefully we can learn something from that, but BHP are in total control of when WM comes online, all I can find out so far is it is under review from their own announcements..

[giltedge1] 05/3/2024 13:28

Any news on WM possibility BHP may cancel?.

[quepassa] 05/3/2024 08:26

Those of a nervous disposition are advised not to read The Lex Column in today's FT (p.24), headed:-

"Iron ore fall bodes ill for steel demand and China's economy."

We know what the vital two ingredients are for making steel.


A couple of snippets from the FT article:-

"Now ore prices are plunging, down a tenth since mid-February and by nearly a fifth this year. Oversupply coupled with China's slowdown means the sector is becoming a dangerous one to invest in"

and

"Investors should not risk getting caught in the turmoil. Further steel price and margin declines, followed by industry consolidation, appear inevitable"


See FT for full context.

all imo. dyor.
qp

[888icb] 26/2/2024 13:57

Director share purchases are always a welcome sign as per today’s RNS:
“ Ecora Resources PLC (LSE/TSX: ECOR) has received notification of the following transactions by Marc Bishop Lafleche, Chief Executive Officer of the Company.

On 22 February 2024, Mr. Bishop Lafleche acquired 129,100 ordinary shares of 2 pence each in the Company ("Shares") at an average approximate price of £0.7658 per share”

[laurence llewelyn binliner] 26/2/2024 13:37

#1Knocker, it looks like the potential for slippage at WM by BHP is getting priced in here, I am waiting to add/average down some, a 9/10% yield here now, the dividend is well covered with the current portfolio inc VB, any other royalties that come online or get added is a bonus, we also have the balance on the Narrabri disposal income yet to come..

BRWM is suffering exactly the same trend as ECOR so it is not company specific but sector wide and cyclical, as soon as interest rates pull back around summer time and the USD weakens, our commodity prices and corresponding income will pick up..

Narrabri disposal 14.10.2021 - USD21.6M fixed consideration, to be received in instalments until 31 December 2026, of which USD13M to be received within 18 months of the transaction close date..

H1 financials 05.09.2023 - USD12.8M fixed payments received since 31 December 2021, with a further 2M
to be received in January 2024 and January 2025, before final payments of 2M and 2.8M to be received in January 2026 and December 2026 respectively. Should the southern permit be granted, a further 5M is receivable in equal annual 1M instalments..

[quepassa] 26/2/2024 12:48

Not long now 'til the share price likely tumbles into the 60's.....


all imo. dyor.
qp

[loganair] 21/2/2024 21:49

It's virtually impossible to mine environmentally cleanly.

It seems to me we are heading for no solar, no wind turbines, no EV's, no coal, no gas, no oil etc which means the average person in the UK is going to go cold and hungry, especially during the winter months.

It is now time to get out of Britain, if one is able to and buy a place where it is not too hot or too cold all year round and is financially friendly.

[0x3f] 21/2/2024 20:49

Nickel price apparently due to Indonesia flooding the market. It looks like we're setting up for a bifurcated market with Clean Nickel (non Indonesian) attracting a premium. From Chalice Mining, 21 Jan Corporate update:

"The nickel market is also experiencing structural changes, with an oversupply of highly polluting, high carbon intensity nickel from Indonesia. Given the majority of this supply is driven by Chinese investment and will not be compliant with the US inflation reduction act, in our view western battery makers are still actively looking to source western nickel and this is not reflecting in LME prices "

This recent statement is also interesting:

"29 investors, with USD 1.2 trillion in combined assets under management, have signed a statement expecting companies to enhance their environmental and social due diligence in nickel supply chains of the electric vehicle (EV) industry. They are calling for incorporating responsible mining requirements into their mineral supply chain policies."

hxxps://www.regnskog.no/en/news/investors-worldwide-call-for-responsible-mining-practices-in-nickel-industries

-0x3F

[1knocker] 21/2/2024 19:34

The resources super cycle seems to be going the way of the gold (which 5 years ago was said to be the only investment we needed to own for the next half decade or so!).

I am not much bothered as regards the basic materials miners. I only need to look at my holding of Rio, bought years ago at £19, at a time when you would have thought minerals were going the way of the dodo. Its not just the capital increase in value, the dividends i have collected are enormous.

Buying low is the name of the game. It is painful to see any holding painted red, but anyone building a position in Ecor at these prices should do very nicely over time. Likewise TRR and various others.

[quepassa] 21/2/2024 18:26

LLB - Post 608 - 29/12/23.



Down 25% since then in less than two months.

Care to comment?

[laurence llewelyn binliner] 21/2/2024 18:07

#1Knocker, also note from BHP they are evaluating their CAPEX spend for 2024.

They estimate as much as one half of global Nickel production is estimated to be currently loss making, this will in turn lead to idled plants and delayed project start ups, the impact on West Musgrave development tbc, with potential for a period of care and maintenance at Nickel West.

[1knocker] 21/2/2024 09:11

I see that BHP have written down the value of their nickel assets. it looks as though they believe the price is going to remain depressed.

[laurence llewelyn binliner] 16/2/2024 08:40

#The Deacon, I suspect BHP could be trying to leverage their position in Oz with regards to some tax breaks or incentives to progress the project with 3,000 jobs on the hook..

We will of course see how it plays out, but as above, the cure for low prices is low prices reducing investment and supply..

[the deacon] 15/2/2024 20:30

It'll be the nickel price that determines what Vale do at VB. It's primarily a nickel asset after all. However, as LLB says - there's a lot in its favour.

[laurence llewelyn binliner] 15/2/2024 17:44

1Knocker, this is where VB comes into its own, clean, and hydro powered too..

Some uncertainty now over the WM progress rate, Piaui is a HL operation so also has key differences to most projects but they are now moving to a DFS which our recent addition partially funding it..

[1knocker] 15/2/2024 16:46

nickel prices are flat on their back, and I see no one suggesting that demand will equal supply for the foreseeable future
Cobalt, I don't know. It is nasty stuff, and no mineral has a worse record for its mining practices than Cobalt. think 19th century chimney sweep boys, but worse! Surely there must be some radical shake up in Cobalt mining sooner rather than later? Or am i just an idealistic fool?

[andydaf] 15/2/2024 16:11

Interesting comments in the BHP rns about nickel and cobalt prices.If low prices persist how will this effect brazilian nickels plans going forward.Low prices are the cure for low prices but it seems to me odds on west musgrave will now not be producing by the back end of 2025.GLA

[the deacon] 15/2/2024 14:51

"Construction of the new $1.7 billion West Musgrave nickel mine is only 21 per cent complete, but BHP said it was considering slowing work, which could mean deferral of more than $1 billion of remaining spend on the project."https://www.afr.com/companies/mining/bhp-suffers-5-4b-nickel-wipeout-wa-business-under-review-20240215-p5f551

[munin] 15/2/2024 09:24

Some uncertainty overBHP plans for West Musgrove.

[laurence llewelyn binliner] 14/2/2024 13:56

Accidents at mines are a painful reminder of the risks we take holding miners outside of a fund or a R/S company for the diversification, the older we get the less we can afford to take these risks, I still have 3 in play but my appetite is almost replete now after well over a decade rolling the dice.. :o)

[the deacon] 14/2/2024 10:47

That looked an awful incident. My SAND holding got hit too, though obviously not as bad as SSRM. Did pick up some more SAND on the drop. Fingers crossed for good news on those caught up in the incident yesterday. From a shareholder/operator point of view it all rides on what response there is from the Turkish authorities.

[1knocker] 14/2/2024 10:37

Only time will tell whether it was nice timing!

I could do with a break - My SSR mining holding (fortunately one of my smaller holdings) fell over 50% yesterday on the leach heap slip. Glad i did not top that one up just beforehand.

[laurence llewelyn binliner] 14/2/2024 09:02

#1Knocker, nice timing for the DRIP on dividend payday too.. ;o)

[1knocker] 14/2/2024 08:43

I added 12% at 78.7 this morning.
The lowest price I have ever paid, in a decade as a holder of ECOR.
Maybe they will go lower still, but something will have to go badly wrong for this not to be a good time to buy.
Anyone who can build a position at this price should be pretty well set. Indeed, anything under 100 looks very good value to me.
As ever, fingers crossed. The market can always bite you in the bum!

[quepassa] 14/2/2024 05:27

Beware of Scylla and Charybdis.

Be very aware.