Ecora Resources Share Discussion Threads

[lcwanderer] 19/3/2024 09:42

Horrendous loss of shareholder value since Treger departed. From 1.86 at the beginning of April 22 to today's 71p is some drop. From the duff change of name to the 'so far disappointing' transition to future facing metals, it's been a big mistake to hold. Hopefully there's not much further to plummet and I live long enough to see a rebound of some sort.

[mwj1959] 18/3/2024 18:47

Coco - thx. I've looked at in the past and not been convinced, which saved me a few quid (it's halved since then!), so going to keep it on the watch list for now.

[laurence llewelyn binliner] 18/3/2024 14:19

#Flagon, thanks for posting, all we can do is watch and wait here for the WM build update and the Nickel price to pick up again..

[flagon] 18/3/2024 12:18

18th March 2024

MELBOURNE - BHP Group said on Monday some contractors at its West Musgrave nickel and copper project in Western Australia had left its operations as the global miner assesses whether it will put its nickel division on ice due to a severe price slump... etc

Link :

[cocopah] 14/3/2024 17:55

#mwj1959 I’d leave it for a while, worse to come here I fear and I say that as an investor well in the red here (fortunately on a much reduced holding). Their social media team pumped out some nonsense on copper prices today failing to note the significant drop in the price of cobalt (a mainstay of their production!🫣) since last year. Near-term income looks shocking and the current CEO hasn’t plugged the gap. More damp squib than slow burn unfortunately.

[mwj1959] 13/3/2024 10:08

I don't own ECOR, but do have exposure to the sector via TRR. Having attended their presentation last night at the Share Magazine / AJ Bell event the stock at current levels does look interesting, given that it trades at an estimated 0.5 P/NAV, very similar to TRR (compare that with the much higher valuations attached to gold mining royalty companies, many of whom trade at substantial premiums on a P/NAV basis). Sentiment towards the commodity sector in general remains challenging, reflected in the share price, so probably a good time to be looking at the opportunity in these stocks, while recognising that they are probably going to be slow burners.

[quepassa] 13/3/2024 09:03

Cobalt.

see price and price graph.

[888icb] 13/3/2024 00:35

Good interview explaining Ecora’s transition from Metallurgical Coal to energy transition metals.

[laurence llewelyn binliner] 11/3/2024 20:12

#1Knocker, frustrating to be down here at a low of 72 pence, however, compare to BRWM, our share price trend is identical but we are on a steeper discount and an opportunity..

I am looking to add a few on new ISA day if it holds steady which could be a very nice averaging down buy for what should/could be a 10% yield at the price.

New company presentation tomorrow, not sure if it might point towards anything new though, we will have to check and find out.. :o)

Senior management will deliver a presentation about the Company to update existing and potential investors on Ecora's business plans..

[1knocker] 11/3/2024 16:34

I do hope you are right LLB. I have just bought a few more at 72.27, and that is my lot. My average purchase price is now 119.6, though counting the sale of a chunk a while back at 160 my current cost per share is under that. I am still deep in the red though on the capital account. So everything depends upon the dividend holding.

Cut it any which way you like, but to my mind the price and the dividend are at odds and the dividend is going to fall or the share price is going to rise. I sincerely hope it will be he latter!

[laurence llewelyn binliner] 11/3/2024 15:42

#Andydaf, if we consider the portfolio generated USD27.7M in 2023 without Kestrel, and VB was down -USD13M / 70% on 2022, then it can stand on its own feet and cover the dividend without Kestrel..

BUT we do have Kestrel for 2024/2025 with expectations of +15/+25% on tonnages, and VB will be ramping up from 11 deliveries (2023) to an expected 14 (2024), and 28 (2025) so we will be recovering the gap down in income..

WM is an unknown right now, but the Nickel price is recovering so this will influence BHP decision to accelerate or slow the mine build..

We also know the BOD are sitting on USD230M of funds available to consider/progress/acquire new royalties to further build the portfolio out, and now is the time to go shopping while bank debt is very expensive and hard to get.

[andydaf] 11/3/2024 15:21

Took a few more today.More than likely a bit early but i suppose thats the gamble.Kestrel should see us through 24/25 but then everything is in the lap of the gods.If nickel and cobalt prices rebound and copper flies i will think i have been a smart so and so,if they dont i will be crying into my tea.GLA

[dartboard1] 10/3/2024 18:55

Surely it is 10 years from now is the measurement of you are buying in

[1knocker] 10/3/2024 17:24

I like the look of TRR at its current price. Also Ecor under 100p, despite your reservations, which I broadly share. I think they are more than priced in now.

My core holdings though are Rio, BHP and Glencore. I am a minimum of 50% up on each of those. Keep an eye on BRWM too. Mining is cyclical, so timing of purchases matters. I don't think there is any hurry to buy /top up any of those just yet, but I am watching them closely and expect to do so some tme this year. The big miners have shown unheard of disciplne over the past peak, and are in much better balance sheet shape than is usually the case.

[reddirish] 10/3/2024 16:38

I used to have a sizeable holding in APC, but sold out when they started to move so aggressively into battery materials at what I thought were meaty valuations. In retrospect, that was an excellent decision. Looking at the numbers now, everything about the company still seems overdependent on a declining income from Kestral. For those of you who follow this closely, what am I missing? I'm currently lacking any natural materials in my portfolio, believe that this is a good time in the cycle to invest, but am not sure that Ecora ( as it is now) is the right vehicle?

[quepassa] 10/3/2024 16:12

well, well well.

famous last words of LLB

"we need to hold a share for a decade, through a commodity cycle and measure it on a total return basis before concluding if we got it right or wrong.. :o)".

let's put that decade long holding period to the test

Price 1st March:-

2014 - 180 pence (anglo-pac)
2024 - 75 pence


disastrous destruction of shareholder value over last decade.

care to comment??

[laurence llewelyn binliner] 10/3/2024 15:26

#1Knocker, we need to hold a share for a decade, through a commodity cycle and measure it on a total return basis before concluding if we got it right or wrong.. :o)Here we will either start adding some very good value royalties soon or get picked off by a bigger entity, there is nothing wrong with our portfolio and we just need to add to it (IMO)..

[1knocker] 10/3/2024 15:12

Agreed. a prediction without a timeframe is no prediction at all.

Few predictions are worth much, even with a timeframe. The beginning of wisdom is to recognise how little we know, or can even make useful guesses at.

The best I can do is look only at profit making companies with resilient balance sheets, and then try to buy low and sell high (or at any rate higher), and to remind myself every day
1. That when I make a mistake with a purchase, generally because the company runs into long term unexpected headwinds or does something expensive and silly, the earliest bale out is generally the cheapest,
2. it does not matter how many good opportunities to buy I miss, because like busses, there will always be another coming along behind, and
3. the bad shares you avoid buying make at least as much difference to portfolio returns as the good ones you do buy.

I guess I am a timorous soul!

[bhoddhisattva] 10/3/2024 11:46

The broken clock is right twice a day in other words 1kmocker!

I’d argue a prediction should have some idea of timescale for it to be genuine.

[1knocker] 10/3/2024 10:04

The bottom did subsequently fall out of Scottish Mortgage.

It is an interesting question: 'How much too early does a prediction which ultimately comes true need to be to be classed as wrong, rather than too early'?

For years i resisted buying Scottish Mortgage because i feared I had missed the boat and because it was at a premium to NAV, only to see it keep on rising. I could have made big money there, had I got out again anywhere near the top. But I would probably have been as reluctant to sell when it was falling as i was to buy when it was rising!

As it is, I HAVE now bought, and am currently 9% up (and still at a big discount to NAV). Was Que right or wrong? The answer, I suppose, is that every prediction of a fall, and most predictions of a rise, will ultimately be proved 'correct' to some degree at least, provided that the prediction includes no time-frame.

[pockstones] 09/3/2024 14:24

Dear Que,
Anyone who followed you in Scottish Mortgage lost rather a lot perhaps a little honesty nearer to home might be good

[laurence llewelyn binliner] 09/3/2024 08:22

Nobody noticed the Nickel price rebound over the last month..?

16,000 up to 18,000 per tonne, sure to have some leaning on BHP/WM decisions to progress the build (or not)..

[quepassa] 08/3/2024 09:57

Yes but doggo won't comment on his recent October words that "It's a great bargain here"at 90p when price now 73p.

Anyone who listened to his words has already lost near 20% of their capital.

Like LLB and others, he'll try to sucker in other poor punters to support the position he just took - a total lack of honesty and integrity.

But when it comes to losing money or being honest about his words, it's a completely different story and it's avoidance at all costs.

The vast majority of you guys are totally dishonest in your bulletin board postings.

Look at the share price graph. That doesn't lie.

All imo. Dyor.
QP

[stemis] 08/3/2024 09:41

Yes, remember QP haunting the GATC board when they were struggling