European Nickel Share Discussion Threads

[tomandgerry] 11/4/2012 15:37

Feel a bit jittery but these look soo cheap I topped up with a further 40k at 9.7p. can't go too far wrong since they are now at cash value....at least I hope so!

Tom

[richscotsman] 11/4/2012 13:10

This won't be helping...

[giant steps] 11/4/2012 11:58

Oh dear, a sinking feeling here for ENK

Reminder prices bid 9.50p offer 10p

[atlanticbridge] 11/4/2012 10:17

Come on RG, sorting the share price out is your responsibility. Mkt Cap is now just above cash in the bank. Announce a permit / bit of shipping update / a great deal, maybe even have a chat with the broker. So far this year we've had a very late JORC update / an appointment and not alot else.

[mattybuoy] 10/4/2012 22:09

Sorry I meant at Acoje.

Forgot you were an encyclopedia ... :-)

[metex] 10/4/2012 20:17

Mattybuoy....whether it`s permits in this outlined case....or not?....not quite the impeccable 100% overall record....perhaps?:


Mining for Answers in the Philippines
Published on April 12, 2008

BY R. QUIBILAN
DEMOCRATIC SPACE
Posted by Bulatlat
Vol. VIII, No. 10, April 13-19, 2008

(New York, NEW YORK) Last month, the municipal government of Nueva Valencia in the Philippine island province of Guimaras passed a resolution opposing the proposed mining exploration by the Fil-Asian Strategic Resources and Properties Corporation. Environmental groups and Guimaras residents fear that the project will threaten the natural resources of the island, which is still recovering from a massive oil spill in 2006.


Project information:





Time will out!....DYOR.

[mattybuoy] 10/4/2012 18:35

Gregory has never failed to get a permit in the Philippines.

The main risk here is funding, not permitting, and the key de-risking event is an offtake agreement.

[metex] 09/4/2012 21:01

Value of the in-ground Nickel....via Acoje Resource Update:


The updated Indicated and Inferred JORC (2004) Resource estimate at a 0.8% Ni cut-off for Acoje, as prepared by Snowden Industry Mining Consultants ('Snowden') of Perth, Australia, is:

Indicated: 40.9 million tonnes grading 1.08% Ni, 0.05% Co
Inferred: 29.0 million tonnes grading 0.96% Ni, 0.06% Co


Representing a total of over 662,000 tonnes....of attributable nickel at the Acoje Project alone.

At around £11,500 per tonne....this equates to approx £7.6 billion....(even excluding the contributions of both....the Cobalt at Acoje....and the in-ground Nickel and Cobalt....at the ZCMC deposit).

Time for clarification on the amendments....to the Acoje Environmental Compliance Certificates....the important next step....on the road to commencement....of the "value extraction" process....DYOR.

[mattybuoy] 09/4/2012 17:40

Nickel prices are not currently low. The LME has around $18,000/t for the 2014 futures price. On an opex basis that would equate to a huge boatload of cash for the Acoje operation. The only question, as ever, is the capex, funding and consequent equity dilution.

When I initially discovered Rusina there was no mention of nickel whatsoever, it was all about the PGMs ... :-)

[ohisay] 09/4/2012 17:18

Matty - Did you reckon nickel prices were going to be this low when you got in 6 years ago?

[mattybuoy] 09/4/2012 16:30

More than 6 years. That's how long I've here. Ouch.

It only needs to come good sometime before 2019 for my purposes. Who knows they may even have drilled the PGMs by then. LOL

[richscotsman] 03/4/2012 20:20

interesting... when is our share price going to take account of this?

[richscotsman] 03/4/2012 19:24

Mgmt need to wake the f... Up and start delivering... Otherwise they will be costing me my pension and I will take it badly.

[atlanticbridge] 03/4/2012 13:53

Bam - it's v.harsh to be rating this stock to cash!

[ian 50] 03/4/2012 12:52

Fantastic I really want to hear that what I would like to hear is lots of DSO's heap leach all done and producing Th stuff and sending anywhere which wants it with lots of contracts

[bam bam rubble] 03/4/2012 12:10

Cash at end March according to forecast outflow from the last quarterly will be circa £21.6m (8.25p/share) falling to £19m (7.25p) by end of this quarter so if ENK continues to be rated at a small premium to cash then we will probably see single digits over the coming months

[ian 50] 03/4/2012 11:53

Well guys being a rusina fan I believe rmla sould of gone on their own and been 18 mths min ahead of where they should of been as to this value of Th company ENK well ,,, it should be on a higher value as to where we will be in the future as I hv mentioned previously I did speak to. Bob Gregory in Th far east a couple of weeks ago and seemed relatively up beat acknowledging Th state of mining

I'm on hold longgggg term as they say

Let's hope they have a break though

[chipperfrd] 02/4/2012 19:23

Ian

When does this market ever make any sense?

Perhaps there is an element of tax-loss selling going on, the volumes are fairly slight.

Mkt Cap only £3.5m above cash, although clearly there will have been some outflows in the run-up to the BFS.

So is Acoje, et al, and all the work carried out towards the feasibility only worth £3.5m? This market would appear to believe so!

But with the whole sector in sell-off mode and even highly cash generative operations on low single-digit multiples, I tend towards the view that miners must be near a cycle bottom.

Bit grim, but we have seen it all before. Not that it makes it any easier when it grinds on for months like this.
Chip

[richscotsman] 02/4/2012 18:19

Ian....all this means is that you can top up cheaper than you could previously... Mulling over a cheeky wee top up myself.

Rich

[richscotsman] 02/4/2012 18:19

Ian....all this means is that you can top up cheaper than you could previously... Mulling over a cheeky wee top up myself.

Rich

[ian 50] 02/4/2012 17:19

Why does it depress me --on monday on Th bb metex chip and all so Possitive and reserved I was convinced that this is Enk's time, well v soon ,I just wish Th share price would reflect something good.

[metex] 30/3/2012 21:39

richscotsman....sounds great....yes!

But these are all....the statements and expectations....of the ENK management....and unfortunately they have a history of non delivery.

Have a good weekend everyone....while some of us struggle across Europe for two days....just in time....to queue up for some petrol....on return to UK.

How times change....when you are waiting for ENK to come good.

It used to be here in Eastern Europe....that one queued for petrol for hours/days....fortunately no problems topping up here at Tesco etc now....lol.

[richscotsman] 30/3/2012 19:14

So, putting it all together as you have done, we could go from depressed and bored to it all stitched up and under construction in the next few months.... And the shares I bought at 24p and 18p may no longer look so silly....

Rich

[metex] 30/3/2012 16:00

Just a few bits of information.

Re: Operational Update RNS 31st Jan 2012:

Project Finance

The Company has commenced the process of reviewing the financing options available for the Acoje project. Endeavour Financial was appointed in a debt advisory capacity for the Acoje project during December and will be working closely with the Company to finalise the financing structure to coincide with of the BFS.


Off-take considerations....ref pilot plant:

Future production will include a trace iron NHP and an approximate 50% cobalt carbonate product and these will be sent to potential off-take partners.

NHP has wider market appeal than the mixed hydroxide product (MHP) previously produced at the Company's Caldag project, due to significantly lower metal impurities. This means NHP can be used as a possible final product in some applications making it more attractive than buying pure nickel.


Timing of Project construction.

From Interim Financial Report 9th Dec 2011:

We hope to announce a new JORC resource for Acoje soon, together with new economics for the project. The BFS is also on track for completion in the second quarter of 2012 and we are aiming to commence construction soon thereafter.