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Small 35k top up for me this morning. We’re well into period I believe news on fodere own ops and pitombieras should land (had pencilled in from September likely). Sure some of you might remember fodere tech on pitombieras has been focus of my investment case for years and we’re finally at start of seeing this 🤞
A dry, hot zephyr pushes the tumbleweed down the main street......the townfolk look parched...
Their weary eyes once again look to the empty skies in a vain hope of an RNS to finally end the news drought and to help their withering investment grow! But, no, it's just another day of tumbleweed....
Just had a little top up. Showing red.
Artyth, i also added recently (150k), it feels very lonely being a buyer among the sell/s that happen every day though!
As I’ve posted I believe we’re definitely in period I expect to see Fodere updates at the least.. Hopefully it’ll soon be clear on why i believe just the Jangada stake on them will soon be worth more than Jangada current MC…
No idea though on where company is on the new acquisition/s references as being in the coming months way back at the start of the year. I believe Luis is taking lead on these and with what he done with Bravo it’s the dark horse of the possibilities here. Nothing to speculate or research on though until it’s announced and we can review..
Perhaps more relevant for offtakes than price… I suspect though it’ll be offtake on tio2 that’ll be more likely to us..
https://uk.investing.com/news/stock-market-news/iron-ore-deficit-looms-goldman-sachs-forecasts-supply-shortfall-for-yearend-report-3234554
Regarding new acquisition/s. Not been posted for a while, but Luis taking lead on the negotiations. Recently bought asset for $1.3m to then floated it at nearer $100m with institutional support (all in prospectus below). Definitely the right guy for opportunities in Brazil!!!
https://bravomining.com/site/assets/files/5752/20220715_bravo_mining_ipo_final_long_form_prospectus.pdf
Some nice volume here past few days.
News expected? Or just undervalued as market is turning? Looks good for £6m. Very tempting I must say.
Took a starter position today. Will add on any dip from here.
There is plenty of news due/overdue
1) Updates on private company called Fodere which Jan have circa 7% interest in. They should be making solid progress towards being producer in 2024 with revenues circa $100m on high volumes. Previously advised would be funded 100% by debt. That’s just stage 1. If all goes well then stage in later years would increase throughput and see revenue of nearer $500m. Market unaware of fodere, but if all goes to plan it’s a $1b+ MC companyat stage 2.
2) Updates on Jangada pitombieras project. We’re waiting on ore being tested using Fodere propriety tech. All going well this would vastly increase the titanium credits, therefore project economics and attractiveness to offtakers to fund the project
3) New acquisition. Been mentioned since start of year. In country director taking lead on these negotiations. BOD are targeting non core assets of majors with unicorn potential and where any payment is down the line on milestones. Whilst no specifics are known the last acquisition made by this director was for $1.3m with it being floated shortly after for over $100m. So it’s the dark horse as in we don’t know what it could be, but the Director negotiating has form and could be transformational.
There’s not been any meaningful update for 18mths which has punished company and lead to lots forgetting the excitement. Pitombieras project already has a post tax IRR of 100% and npv $97m and trial mining licence in place. In current set up iron ore is chief commodity. Recent increase in iron price also helps make project in its pre fodere plant scenario more likely for offtaker funding (although think it’s fodere plant option that will be most likely route).
Been unfortunate in some other holdings where I’ve waited too long to increase at the lower levels. Selfishly I hope it doesn’t happen again here. But, what will be will be. GL
Thanks for sharing your knowledge here Dcat.
Got what I wanted last week. Slightly above my target price. All prepared to wait for delivery.
Good luck 👍
I’m sure we’re all hoping you got the lows and pretty confident you’ve one of the better averages. Assets are very exciting, just needs to wake up!