Ecora Resources Share Discussion Threads

[pockstones] 26/6/2024 16:32

Hear hear but the risk is that the value destruction of current management attracts a bid at a pound and it is accepted

[brian3777] 26/6/2024 14:23

Another day of losses on the share prices.
Been selling the shares for last 2 months.
It's been an interesting journey.
From a well run company making great investments, and paying increasing dividends.
To where we are today.
It's not just the CEO that is to blame for the situation we shareholders find ourselves in.
It the fault of the whole board, including the non-executives.
They have a fiduciary duty to their shareholders to create value, not to erode value.
What a mess they have made of that.

[bagpuss67] 21/6/2024 09:12

MBL in the market again...

[cocopah] 18/6/2024 13:54

I see that “his smugness” aka MBL has bought some more shares to average down from his last share purchase. I almost hope it goes lower so he can feel the pain that he has inflicted on shareholders. He is such a numpty!😂8514;😂

[1knocker] 16/6/2024 15:47

You miss my point.
I am certainly not advocating that the BoD overpay for anything!

[laurence llewelyn binliner] 16/6/2024 15:01

#1Knocker, we will have to see how it plays out but as I see it we are very much tied to WM getting built near term, I would not want the BOD to buy over priced royalties just to plug the income gaps, rather wait to pick up well priced royalties which will set us up better for the future, Kestrel is going to run into 2026, VB is a year behind its ramp up process too so income is weaker than forecast, but 2024 will be better.. :o)

Very frustrating, and irritating to see us down at 75 pence, August BHP WM decision is getting closer now and will be a near term share price driver..

[1knocker] 16/6/2024 14:46

So the shares are not oversold at the current SP, and the BB is a bet on the company being better managed in future than it has been in the recent past, when the share price should rise in line with better company performance?

That sounds to me like the very definition of a decision for shareholders deciding whether to use their dividends to purchase more ECOR shares to make, not the BoD.

[laurence llewelyn binliner] 16/6/2024 14:28

#1Knocker, ECOR was never a pure royalty play business, we owned (and still do) a strong position in LIORC equity which has paid us dividend income for many years, and returned a 60% CG when we reduced, I did not like the idea of a BB, better invested in debt reduction IMO, but it did give stale bulls a chance to reduce or exit if they wanted to and it was funded from profits on equity speculation.. :o)

27.03.2024 - In Q4 2023 we sold approximately 60% of our stake in LIORC realising CD18.9M, a total pre-tax return on investment of c110% these funds will primarily fund the buyback programme we announced today and the $7.5M we invested into Piauí..

The treasury shares will add value over time, but not until the income is shored up and heading back towards the target USD100M a year..

[1knocker] 16/6/2024 13:20

LLB, the BoD of Ecor is paid to run a royalty business, not to speculate on the stock exchange. So far, the current board is not making a particularly good job of running a royalty business even though that is supposed to be their area of expertise. Why do you think they will do better as amateur speculators on the stock market?

If profits are paid out to the shareholders as dividends, the shareholders can make their own decisions as to whether and at what price they apply those profits in the purchase of ECOR shares.

[laurence llewelyn binliner] 14/6/2024 09:51

#Pocketstones, indeed, it was spent on the BB this time, but from Q3 the money saved on the payout can be used to pay down debt faster..

IF we can get the income stream up, the share price will follow and we now have 13.5M treasury shares to sell on, it is a long term strategy and will earn money for the company but not until they get the income rising and any fears over WM allayed..

[pockstones] 14/6/2024 09:45

Apologies Laurence,

Doing a share buyback does not reduce debt management spent the money saved by halving the dividend on that pointless exercise

[laurence llewelyn binliner] 14/6/2024 07:25

#Pocketstones, we have a robust royalty pipeline, unfortunately timing of those coming online has weighed heavy on the share price ., but 1 at a time it will come together, VB to start with, WM update in August, Piaui progress too, Santo Domingo DFS is due soon, 2 more years of Kestrel to come while it plays out..

Disappointing to cut the dividend in half, but it will help strengthen the balance sheet going forward by reducing debt by an extra USD10M a year..

[pockstones] 13/6/2024 21:02

Managements decision to halve the dividend means there will be a lot of stale dividend income holders selling into any rally
Mediocre management may attract a bid but like the Trident bid it will not need to be much to succeed

[quepassa] 13/6/2024 14:14

Zero stake-building.

[the deacon] 13/6/2024 13:23

I wouldn't be surprised to see a bid. The clamour is for transition metal royalties - especially copper and lithium. Metalla and Nova combining to create a bigger copper/gold royalty company. Now Deterra wanting large scale lithium exposure through Trident. We've already seen the likes of Sandstorm, EMX and Triple Flag put copper/gold at the forefront of their exposure. ECOR does provide some decent copper exposure, if you zoom out to the medium term

[laurence llewelyn binliner] 13/6/2024 13:08

#The Deacon, shame to see TRR taken out at 49 pence, a decent return for recent holders at 30 pence, but not much if any for buyers/holders from 2021 to mid 2023, I had them on my radar but not bought into a non dividend payer..

Could ECOR become a target at 70 pence when they are worth so much more..? yes it could, will it happen, maybe.. :o)

[the deacon] 13/6/2024 12:28

The only reason you're buying Trident is for Thacker Pass. The rest of the portfolio is average at best. ECOR has an impressive pipeline, however we need to see progress and commitment from the operators at WM, Piaui and Santo Domingo. In different circumstances I wouldn't have been disappointed with a TRR/ECOR merger, as both needed scale. Even someone like Altius would have been interested in TRR's Thacker Pass royalty. Anyway, I've held Trident since IPO, but I'm very disappointed by today's news.

[bsdjj] 13/6/2024 11:30

Interesting read across re : bid for Trident today (HT Peel Hunt Research). Takeout price of 1.7 times book value would equate to 249p value for Ecora.

[quepassa] 12/6/2024 06:31

"PREDICTABLY".

.....IN MORE WAYS THAN ONE.....



Binliner - yesterday Post 835 "... a predictably softer share price now it is over too"



Binliner - two months ago 15/4/24 Post 776

"Although disappointing as an income investor to see the dividend cut in half, it does add USD11M a year to debt reduction/buybacks or new royalty purchases for free..

Next stop 100 pence..? .. :o)"



Care to comment?



ALL IMO. DYOR.
QP

[cocopah] 11/6/2024 15:49

Lows of 2004 … yes 20 years ago … is my best bet.

[laurence llewelyn binliner] 11/6/2024 14:07

#1Knocker, 83.7 pence average for the BB, a predictably softer share price now it is over too, progress will depend on how soon we can say with any confidence whether the income to prop up the loss of Kestrel in 2026 is on track, WM is making progress but BHP are not due to update again until August..

BUT we do know VB is ramping up as we speak so deliveries should rise to 12-16 for 2024 up from 11 in 2023 for starters..

[1knocker] 11/6/2024 11:42

What is the average price of the buybacks, and what is the share price now?
More of my money burned by ECOR.
If the buyback money had instead been paid out in dividends, it would be in my bank account now.

[sword77] 11/6/2024 05:46

@Damp Seaweed, check last presentation, as far as I remember, we should get another dividend payout in 2nd half year for the first half year.

@Llb pictures are from April, so hopefully more progress now.

[laurence llewelyn binliner] 10/6/2024 12:57

#Sword77, thanks for sharing, some of those foundations look like bases for the ball mills.. :o), long way to go, but WM is moving forward as demonstrated by the stills..