Ecora Resources Share Discussion Threads

[the deacon] 08/9/2024 13:31

Yes that's encouraging. Good to have an update on the estimated timeframe.

[laurence llewelyn binliner] 08/9/2024 08:20

#The Deacon, BRN - 06.09.2024 - commenting on the progress to date, Chief Executive Officer Mark Travers notes, I am pleased by the level of interest and support we have experienced for the project to date. despite the significant headwinds in the nickel market, there has been a lot of interest in our high quality, low carbon product and consequently, we are very optimistic that we will have a fully financed project in 2025 with first production from the PNP targeted for 2028.

Some light after the Kestrel run off, but we know slippage can happen, VB will be delivering full tilt by 2026 which adds cUSD20M a year less cost of sales at todays prices, BRN could add another 20M a year when full scale is operating for us..

[1knocker] 06/9/2024 21:03

RBC Capital Markets raised their target for Ecor from 100 to 120. I can't say i am convinced. They seem to see the end of coal in the portfolio as a plus but I see it as a mistake, and at best bad timing as it has left Ecor with a revenue drought over the next few years.

I also dislike share buy backs. If a company can't see anything better than its own shares to buy with cash on had, that cash should be returned to the shareholders to let them make up their own minds where they invest it. This management is struggling to run the business they are paid o run, let alone branch out into the equity investment field! And when did even shrewd management (Berkshire Hatherway perhaps excepted)even time a share purchase right?

[the deacon] 06/9/2024 14:01

I hold ELE. I wouldn't be against an ELE/ECOR merger, though ELE are primarily focused on gold & copper so unlikely to be that fussed. I like Fred Bell though, and I think he'd do a good job of navigating a bigger ship.

[farrugia] 06/9/2024 11:07

lol dugbe will need many years before anything comes from it. Elemental Altus Royalties seems a much better bet than this but it only trades in Canada.

[giltedge1] 05/9/2024 12:09

Surprised to see tick up, looks expensive cf BRWM. SD capital cost 2B, so non starter, except major involved. WM on back-burner 2027 means forget it until nickel price sores back to high. South32 buy costly, no income. Admittedly other prospect Dugbe looks promising with gold at $2,500, but won t replace Kestrel.

[laurence llewelyn binliner] 05/9/2024 06:51

Income results ahead of expectations for H1, but the dividend is poor, down from 2.125 cents to 1.70, income seekers will be disappointed, me included having already seen it cut in half..H2 we will see VB scale up and see what we crank out without Kestrel income until next year..Good to see SD pushing on, we need to see a timeline for that project next then the FID to see if/when it gets built..

[the deacon] 05/9/2024 06:24

Disposed of their Labrador Iron ore income stream and spent the money on buybacks. That's money down the drain. With everyone focusing on LFP battery technology now I'd have thought exposure to the cleanest of pelleted iron ore would have been key for the portfolio. Results otherwise as expected. Things aren't going to look anywhere near as good for quite some time.

[tommygriff] 04/9/2024 21:35

I don't think it needs much comment. We all know kestrel is where the doughs at.

[deadly] 04/9/2024 21:01

no comments on results - says everything

[laurence llewelyn binliner] 03/9/2024 18:43

H1-2024 financials/dividend in the morning, no surprise the MMs took it down in advance.. :o)

[quepassa] 03/9/2024 17:45

As predicted by me, the share price has now tumbled firmly into the 50p range.


Fresh Article on Yahoo Finance / Simply Wall Street dd. 29/8/24 headed:-



" ECORA RESOURCES... SHARES COULD BE 32% ABOVE THEIR INTRINSIC VALUE ESTIMATE"



which continues:-



" Using the Dividend Discount Model, Ecora Resources fair value estimate is UK£0.45"


Link to article herewith:-

hXXps://finance.yahoo.com/news/ecora-resources-plc-lon-ecor-054631813.html

The SWOT analysis in the article is worth contemplating.


The share price graph remains in my opinion on a downwards trajectory.

ALL IMO. DYOR.
QP

[the deacon] 29/8/2024 10:57

I don't think it's a particularly compelling trade either way. A lot of the bad news is baked in. The time to go heavily short has past - with the majority of those wanting to be out are now on the sidelines. Although cheap, it's hard to see a catalyst that'll get things moving for those long - so probably better places to park your money. I suspect things may stagnate for the time being - barring any significant news MBL might throw this way.

[scepticalinvestor] 29/8/2024 07:46

Opened a short in this dog at 59.30 and 58.98 this amBargepole

[laurence llewelyn binliner] 29/8/2024 07:40

WM - average annual production is expected to be 26,000 tonnes of Ni, and 32,000 tonnes of Cu, so by volume it is a copper mine, and in a year or 2 the copper price could be ahead of nickel, we will have to wait and see.. :o)

#Sword, yes 18% when Oz minerals sold it and BHP took it over, now 21% and mothballed, so no significant progress made there YTD..

[the deacon] 29/8/2024 07:33

You may be right about WM. BHP previously sold it on, and now it's come full circle. It might eventually form part of the Nickel West production, but we could be waiting a very long time for that.

[sword77] 29/8/2024 07:30

@Deacon, they won't ever build it, they want copper. So our hope is that they sell it to somebody who really believes in nickel rather than copper.


And bad news regarding cobalt:

[the deacon] 29/8/2024 07:08

Yes, it was 21% in late Q1 when BHP announced that they were reducing the workforce at West Musgrave. I doubt much has happened in the meantime as the focus shifted to a care and maintenance stance. Barring any rapid improvement in the nickel price I suspect we won't see anything happening at WM until the review in early Q1 2027.

[sword77] 29/8/2024 06:43

@LLB thx for the effort, but your 18% seem low, as it was only 21% complete in Q1 2024.

But in the end it doesn't really matter, as the cobalt price recovery is the only thing that matters now

[laurence llewelyn binliner] 28/8/2024 12:19

#Sword, I cannot recall where I read it, but IIRC WM was only 18% complete at the point when BHP took it over from Oz minerals summer 2023, but it has not progressed far since then mothballed..

[sword77] 28/8/2024 10:26

Did somebody find the rate of completion of West Musgrave in the BHP August report?

[laurence llewelyn binliner] 27/8/2024 12:04

Interesting development at VEIN ref Dugbe yesterday, it looks like a sale or JV is work in progress, when a mine build is complete and operational so is our 2% NSR income stream, neat timing IF it comes together for 26/27... :o)

[andydaf] 24/8/2024 16:23

Unfortunately i believe MBL has had his time along with the chairman.Whilst in 2030 it may well be true we will reap the benefits of west musgrave etc its also true none of the royalty projects might get built.As it is Ecora can only be valued at its producing assets.As these deplete its natural for the share price to decline and why should we hold for less than a ten per cent dividend.A board shakeup(how the chairman has the gall to look shareholders in the eye is beyond me)and new approach is essential to restore shareholder value.Plenty of projects outside of the green space are desperate for capital and returns will be far better.Question as a shareholder would you really want MBL investing your life savings?As i said earlier GLA we are going to need it

[pockstones] 24/8/2024 14:43

The current chief executive needs to go his strategy has failed if you can call it a strategy and the. Share price falls in line with the falling dividend. This is a text book illustration of shareholder value destruction by an over promoted executive
Treger looks to have appointed someone who would make him look good in hindsight. I think the institutions will wake up eventually or it will be acquired

[laurence llewelyn binliner] 24/8/2024 10:58

#The Deacon, I would prefer to keep some greater diversification, going all in on battery metals has proved to be ill thought through, divesting Narrabri has not bought a rush of II bidders for our shares held in treasury (yet), we should focus on making profits for shareholders from a mixed basket not being so blinkered on the green / EV revolution only, coal assets are valuable sources of income ..

The current wave of green or nothing eco warriors and poliicos will make the country uninvestable for manufacturers through high energy prices..

The windfall tax on Oil and Gas is already 75% going to 78%, but the oil and gas prices are now back to where they were 20/30 years ago, there is no windfall in 2024..