European Nickel Share Discussion Threads

[mdr128] 01/6/2012 11:11

I note TMC seems to be up a modest amount too, I wonder if there is some positive news re the new mining policy, couldn't find anything to that effect myself though.

[stevi111] 01/6/2012 11:10

Still more hefty buying on Level 2

11p bid and in auction now !

[chipperfrd] 01/6/2012 11:03

Thanks for all the posts guys. Sorry I have not been contributing anything recently but I am still bullish for the longer term and have maintained my holding.
Chip

[aleks_atanasov] 01/6/2012 11:00

yeah maybe its a bid speculation or something

edit: if its a bid they must RNS something intraday or after the close

[stevi111] 01/6/2012 10:55

Big buying going on on Level 2.

Must be a positive reason perhaps !

[metex] 31/5/2012 19:54

richscotsman....thanks for that.

Makes the timing of the Acoje BFS....all that more interesting....especially with nickel prices....where they are presently....(i.e. looking to be at the bottom of their present cycle)....DYOR.

[atlanticbridge] 31/5/2012 10:59

Jezza - I'd agree if the share price was 18p.

Have a good bk hol all.

[jezza123] 30/5/2012 22:02

thanks metex

I note the BFS isn't due till late september (and lets face it, I would be it will be later than that) - and then the offtake partner process has to start.

So the fact is, I can't see anything happening here until 2013.... and that would make me think this will just carry on drifting downwards during that time. A shame, but there it is. The current price trend needs a 'spur' of positive interest typically, and that's not coming here in the near term.

[metex] 30/5/2012 20:25

Outstanding "hoops of fire"....for ENK to jump through.

1/ The new Executive Order ref mining regulations....and new financial contributions by miners to Philippines government.

There will be changes....but not of such significance to stop Acoje project.

The new Executive Order....will ironically....be pro-mining for the long term.

2/ A Positive BFS.

Will be achieveable....using Ni price....probably set around $6/lb....supported by a better defined Acoje JORC resource....following new drilling campaign.


3/ The ECC amendment....for mine to go ahead.

The elimination of a tailings dam....from the set up....considerably de-risks....the issue of this document now....especially when Acoje is an old mining operation....a "brownfield site"....that has already a good mining history.

4/ An Off-take partner.

The new product that ENK is offering....has a big advantage to some off-takers....in that it can potentially be used....without further refining.

The product is of good quality....and importantly....low in impurities.

The involvement of a principle off-take partner....will also influence "hoop" 5/.

5/ Financing Agreement.

The Financing Agreement....will naturally depend on a positive outcome....to the BFS....the prevailing market conditions....but will be heavily dependent on the involvement of an off-take partner....and also on the the type of "Financing Agreement" required by all parties.

With ENK having the advantage....of moving toward a financing agreement....with considerable funds in place....say at least $30m....by the time of negotiations....and a contract in place with an off-taker....it may be that a "debt only" solution could be found....but as there are many options....as long as the market is open to deals....even with an off-taker....providing the debt finance....ENK with it`s geographic advantage....with respect to China....should be able to raise funds.

ENK`s new ability to produce end-product....in days....rather than years....through Tank Leaching....has changed the overall funding....and debt repayment dynamics considerably.

China is not "dead" in the water just yet....and with new measures in the pipeline....to nurture more growth....their massive urbanisation projects will continue....irrespective whether an economically slowly decaying Europe....will take more time to sort out it`s problems....so China will continue to require nickel products....for some considerable time yet....all IMHO and DYOR.

[giant steps] 30/5/2012 18:49

ENK Reminder of key shareholders Montoya/D&A

18th April 2012
"
Guy Walker was nominated to the Board by major shareholders Montoya Investments Limited and D&A Income Limited who account for 18.24 per cent. and 11.63 per cent. of the issued share capital of the Company, respectively. Guy currently acts as Company Secretary for Montoya Investments Limited and is an advisor to D&A Income Limited.
"

Chart reminder

[jezza123] 30/5/2012 18:36

OK, thanks -
I'm not that bothered about financing in the near term, is a standard risk though with all these small cap miners.

on the issue of mining regs, are we talking about something that might force ENK to withdraw from mining altogether? If so, what is the current political risk of that happening?

[giant steps] 30/5/2012 17:08

Just giving my tuppence as requested !

[richscotsman] 30/5/2012 16:59

Gs... I realised my typo and corrected it.... Thought that I was quick enough that nobody had read it but you were on ball!

[giant steps] 30/5/2012 16:46

Do we have anything in Indonesia ?

(oh, the post #7164 has changed !)

[richscotsman] 30/5/2012 16:44

Project finance and mining regs

[jezza123] 30/5/2012 16:12

so, a question for 'old hands' here - whats the biggest risk on the radar for ENK - could history repeat itself like it did in Turkey?

[richscotsman] 30/5/2012 16:06

Gs.... It may be a good thing... Low nickel price to reduce stocks and low enk to allow us to top up cheap.... Long term era should not be worried....

[giant steps] 30/5/2012 15:49

Amazing how irrational the pricing has become for ENK

At 8.65p mcap is £22.66m and that near equates to cash $33.6m ending March 2012
Recall $7.25m to come from TMC related asset sales (to complete)

So it's effectively trading below cash and billions of dollar assets come for free.

Plus observe DSO cashflow near $1m in Q1 2012.

[richscotsman] 30/5/2012 15:23

O/T.... Anyone else going to the proactive presentations in Edinburgh tonight? Snrp, cnr, loi and xel presenting....

Rich

[atlanticbridge] 30/5/2012 11:49

Hate to say it but imo more Ni ain't going to shift this. We already have gazillions of it valued at £0. Off take and permit important now.

Come on RG.

[richscotsman] 30/5/2012 11:42

Well... If we go sub 8p I am selling my Logp... Which would be a reluctant sale... To top up.

Rich

[metex] 30/5/2012 11:32

Setting cash aside....Acoje and ZCMC assets....now valued at just around £1m right now....with approx £4.2m more in cash to come....on or around 7th July 2012....DYOR.

[richscotsman] 30/5/2012 10:59

Wow... I am curious to see how low this goes....

[metex] 30/5/2012 07:54

Let`s hope ENK management don`t disappoint investors....by actually announcing the ZCMC JORC resource....on time!

Just wouldn`t feel right....would it?....lol.

In reality....there`s no real pressure to get the ZCMC results out....within a given timescale....seeing that the BFS has been pushed back....DYOR.