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@MartinTurenne "Philippine minister says some mines need to be shut on eve of audit results -- The Southeast Asian nation, the world's biggest nickel ore supplier, last year suspended operations at a group of 10 of its 41 mines for environmental infractions. Manila said in September that 20 more mines were at risk of suspension." http://www.reuters.com/article/us-philippines-mining-idUSKBN15G399 #nickel
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@MartinTurenne adding $AQA to the #zinc list. this one currently deeply undervalued IMO but i'm biased
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@PamplonaTrader @MartinTurenne $AQA and $FOM #zinc less than 3%
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@MartinTurenne @pamplonaTrader agreed $AQA Zn grades aren't eyepopping but Zn metal accounts for 40% of revenue in their PEA model. remainder of revenue is gold (40%) with some copper and silver
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@PamplonaTrader Thanks for pointing that out @MartinTurenne. $AQA a solid value but in my view as much a #gold play as a #zinc play.
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@MartinTurenne @excelsior don't forget $S. their JV ops produce about 7000 tonnes/annum on a 100% basis. one of the few ways to play cobalt via a producing company. https://www.juniorminingnetwork.com/junior-miner-news/press-releases/737-tsx/s/28836-sherritt-announces-2016-production-results-and-2017-guidance.html
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from ~roughingit,
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@Excelsior @MartinTurenne - thanks Good point. I was thinking of $S as #Nickel and forgot about all the cobalt. I guess they do occur together so I'll need to review the other Nickel companies as well. There are also some #PGM companies with Nickel and Cobalt that may offer more exposure. More homework. Good stuff! (and $S is added to the #Cobalt list)
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@PamplonaTrader @Excelsior @MartinTurenne I've always been told to avoid the laterites. $S $CLQ.AX
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from #cobalt,
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@MartinTurenne @PamplonaTrader laterites a huge challenge for sure, crazy CAPEX, etc. but $S have been good operators. as for their balance sheet, well...
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from #cobalt,
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@Excelsior @PamplonaTrader - Thanks for information on the #Nickel laterites with $S and $CLQ.AX. That is new information for me, so I'll have to keep that in mind and do more studying, but I see that @MartinTurenne was in agreement as well. Much appreciated.
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from #cobalt,
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@MartinTurenne Morgan Stanley on #nickel news out of the Philippines today: "Yet another mining industry audit report from the Philippines: This one recommends the suspension/closure of 160ktpa nickel, 8% global mine supply... We are nickel bulls for 2017, forecasting a 21% YoY lift to US$11,660/t. This is based not only on the widely expected net-constraint on SE Asian production (global supply down 1.2% YoY to 1.95Mt), but also on a robust China-centric lift in global demand growth (+3.9% YoY to 2.05Mt)."
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@anomalloy @MartinTurenne Morgan Stanley on #nickel news out of the Philippines today: "Yet another mining industry audit report from the Philippines: This one recommends the suspension/closure of 160ktpa nickel, 8% global mine supply... We are nickel bulls for 2017, forecasting a 21% YoY lift to US$11,660/t. This is based not only on the widely expected net-constraint on SE Asian production (global supply down 1.2% YoY to 1.95Mt), but also on a robust China-centric lift in global demand growth (+3.9% YoY to 2.05Mt)."
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from #hotpick,
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@anomalloy @MartinTurenne $RNX up over 20% and climbing on the on the news
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from #nickel,
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@MartinTurenne Andy Home, an absolute beast on the state the lead market http://www.reuters.com/article/us-lead-market-ahome-idUSKBN15H26G
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from ~zinc,
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@MartinTurenne Europe’s largest #zinc producer Nyrstar is considering restarting its idled and for sale British Columbia Myra Falls zinc-copper mine in light of improved market conditions, its CEO Hilmar Rode said in a call to analysts on Feb 9. Myra Falls in Canada is deemed a "high cost" operation by the company, and it was suspended in April 2015. https://www.metalbulletin.com/Article/3660597/base-metals/Nyrstar-mulls-Myra-Falls-zinc-mine-restart-on-favourable-conditions.html
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from ~zinc,
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@MartinTurenne surprised there's not more discussion here of Adventus Zinc $adzn newly IPOd, up 90% from IPO price. core backing from Altius, RCF, Greenstone and Haywood. #zinc
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@ChestRockwell waiting on @Brandon's new Zn deal @MartinTurenne - could be a pip.
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@MartinTurenne @chestRockwell yes looking forward to good things from @brandon
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@LucTenHave @MartinTurenne What do you think is the main reason of the $41 million market cap? Only the people backing it..is that why its valued at 41 million?
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from #adzn,
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@MartinTurenne LME stocks raid opens new chapter in #zinc bull narrative: Andy Home -- "More than 100KT of exchange stocks have been canceled in the space of a couple of weeks... The remaining "open" tonnage ...has now fallen to 203KT tonnes, the lowest since Dec 2008. This can be seen as another sign that tightness in the zinc raw materials market is starting to feed through into the refined metal part of the supply chain." http://www.reuters.com/article/us-zinc-stocks-ahome-idUSKBN16853G
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from ~zinc,
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@MartinTurenne China’s largest zinc smelter, Zhuzhou Smelter Group, has placed 20.5% or 100,000 tonnes of its #zinc smelting capacity on temporary – but indefinite – maintenance. This is due to a lack of concentrate feed. https://www.metalbulletin.com/Article/3666021/Chinas-largest-zinc-smelter-idles-fifth-of-capacity.html
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from ~zinc,
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@MartinTurenne #nickel "Concerned about the impact of open pit mining in the Philippines, President Duterte last night asserted he would not be cowed by some mining groups that, he bared, have partnered with the opposition and drug dealers in a campaign to oust him. Duterte said he would not bow to the mining firms’ pressure, adding he is ready to forgo the P70 billion (US$ 1.4 billion) in revenues from this sector." http://www.philstar.com/headlines/2017/03/14/1680912/drugs-mining-lobby-funding-destabilization
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@MartinTurenne "Iran has signed a $1 billion deal with private investors to develop Mehdiabad, one of the world's largest zinc mines, which it expects to go on stream in the next four years and produce 800,000 tonnes of zinc concentrate per year. The state-owned Iranian Mines and Mining Industries Development and Renovation Organisation (IMIDRO) said in a weekend statement it signed the deal with a consortium of six private companies, led by Iran's Mobin Mining and Construction Company." http://www.reuters.com/article/us-iran-zinc-idUSKBN16K290 #zinc
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from ~zinc,
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@MartinTurenne @criticalInvestor asks a good question re: Glencore selling zinc assets, and @hRA-Coffin provides a good answer. but why would Glencore choose to sell the assets at this particular point in time? Does this tell us anything about where Glencore thinks the zinc price is headed? If they thought the spot price was headed sustainably up from here, wouldn't they hold on to the assets longer? Bit of devil's advocate on my part, so don't get too mad at me, @theGalvanizer
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from ~zinc,
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@MartinTurenne http://www.reuters.com/article/us-rio-tinto-ventures-idUSKBN16S206 "London bankers are vying for contracts after Rio Tinto said it had set up a new unit, Rio Tinto Ventures, to develop more specialized mining prospects as it seeks to reduce its reliance on bulk commodities. The big miners have traditionally relied on producing high-margin commodities, such as coal and iron, for the largest part of their earnings. At least three international banks have pitched for business with Rio Tinto's new unit, based on developing projects for various products ranging from lithium to soda ash."
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from ~mining syndicate,
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@TheGalvanizer It's a point some folks raised after the $tv deal @martinTurenne and it's a fair question to ask. In the case of $TV they removed operating risk while increasing overall interest in $TV from 4% to 25% and secured, most importantly, the offtake that is central to their business. Im not saying they are doing a reverse in mining aka Nystar (with Trafigura exerting some influence on their direction im sure) but in some ways the metal itself is way more important to them than who gets it out the ground. Just my take on it.
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from ~zinc,
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@MartinTurenne "Hindustan Zinc to Accelerate Expansion Plans?: Hindustan Zinc Ltd. CEO Sunil Duggal said the company may consider accelerating expansion plans as zinc prices near a nine-year high. "I am very bullish on #zinc prices," Duggal added, forecasting more gains over the next three to four months on the back of depleting supply." https://www.bloomberg.com/news/articles/2017-03-24/big-zinc-rally-to-spur-vedanta-unit-s-mine-expansions-says-ceo
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from ~zinc,
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@MartinTurenne on the topic of ~0.4%ish Cu projects, tidbit from $TECK investor day yesterday, when it announced a new initiative to unlock ~$3B of value through divestments and/or IPOs over the next 3-5 years from its controlling interests in 5 projects (Zafranal, San Nicholas, Galore Creek, Shaft Creek, and Mesaba). slides 12-13 http://www.teck.com/media/20170330_Investor-and-Analyst-Day.pdf
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from ~mining syndicate,
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@MiningBookGuy interesting, thanks for that @MartinTurenne! i need to research Teck more closely
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from ~mining syndicate,
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@MartinTurenne First Point Minerals Announces Proposed Name Change to FPX Nickel and the Granting of Stock Options @marketwired/first-point-minerals-announces-proposed-name-change $FPX Been thinking about a name change for a couple of years now
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@MartinTurenne Morgan Stanley on last week's #zinc TC deal b/w $TECK and Korea Zinc: "Teck has agreed an annual zinc treatment charge contract with KZ at $172/t; price participation (pp) set at zero; payability unchanged at 85%. The deal's 15% below 2016's base TC of $203/t; 21% below its average realized TC (incl. pp). However, it's also well above market expectations ($100-$140/t), eclipsing spot's $30-35/t – just 17% of the new annual contract's number."
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from ~zinc,
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@MartinTurenne More from MS: "Not only was this TC deal set at a surprisingly high level, it allows for a recovery in pp (i.e. set at zero for 2017,not eliminated;2016's pp = $14/t) + valuable 'free metal' is intact (85% payability + 96% recovery = 2016's $230/t). So the Smelters should be happy with this deal."
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from ~zinc,
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@MartinTurenne From a Scotia note on $AZ today: "We were surprised such a strong PEA was largely ignored by the market – BUT THE METALS SPACE HASN'T SEE NEW INVESTMENT INFLOWS OVER THE PAST FEW MONTHS IN OUR VIEW – when the metals complex catches a bid we think AZ will be on the radar screen once again." (emphasis added by me) ALLCAPS statement strikes a chord here; for all the talk of generalist interest picking up over the last year, we're really nowhere close to a full rotation back into metals.
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from ~zinc,
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@ocotilloredux @MartinTurenne I will await the issue of the NI 43-101. There is no mention in the press release of who did the PEA and who did the capital cost estimation. In-house job? Since they are going straight to feasibility according to the schedule, who is the EPCM handling this? I am confused how you can build a 10,000 tpd mill for less than others require to build one half the size, so I need a look at the details here, but like Scotia I am also surprised with the magnitude of the sell off.
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from #az,
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@MartinTurenne "Market nervous on #zinc bull story as shortages fail to emerge -- Expected shortages of zinc, a metal often favoured by speculators, may not materialise this year because recent price gains have spurred miners around the world to increase output." http://www.reuters.com/article/metals-zinc-bulls-idUSL5N1HB2T3 Not my view, don't shoot the messenger, etc.
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from ~zinc,
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@Highheat @MartinTurenne Any thoughts on Ni going forward?
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from #index,
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@MartinTurenne @highheat consensus is that #nickel supply/demand fundamentals should be supportive of price (i.e. market deficit in 2016, and projected deficits for the rest of the decade and beyond). but in the short-term uncertainty over Indonesian and Philippines supply weighs on the price. Fundamentals summarized on page 3 of $FPX presentation http://www.firstpointminerals.com/i/pdf/First-Point-Minerals-Corp-Mar-2017.pdf
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@Highheat Thanks @martinTurenne
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@ocotilloredux @MartinTurenne I think it means Glencore will keep the Aussie assets off line for longer than the market is anticipating. If I were him I would dial McArthur River Zinc back even further and totally scrap the Peru operation.
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from ~zinc,
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@MartinTurenne "Rio Tinto ponders future in Indonesia's Grasberg copper mine -- 'There is no doubt that Grasberg is a world-class resource. However, there's a difference between a world-class resource and a world-class business,' Rio Tinto CEO Jean-Sebastien Jacques said on Wednesday." http://www.reuters.com/article/rio-tinto-agm-grasberg-idUSL3N1HK45L Amen
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from ~mining syndicate,
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@MartinTurenne Reuters: "Stronger #zinc prices prompt mines to boost output" http://timesofindia.indiatimes.com/business/international-business/stronger-zinc-prices-prompt-mines-to-boost-output/articleshow/58128540.cms Provides background on which producers are increasing ouptut
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from ~zinc,
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@MartinTurenne Scotia out this morning still bullish: "Channel checks with market participants are still very constructive on the industrial metal...We think buying this current dip in #Zinc is a good strategy."
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from ~zinc,
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@ocotilloredux I am still mulling over @MartinTurenne how to play last weeks supply consensus which is essentially nothing more than I put forth here in the modules. They missed one or two. Toho is cranking up Endeavour again for instance. But the key point is missed. These are assets that must be replaced to keep the show going.
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from ~zinc,
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@MartinTurenne Patricia Mohr retired from Scotia in 2016 or 2015, if I recall correctly
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@MartinTurenne Jayant Bhandari with a new write-up on some juniors; scroll down for his take on companies including $FPX and $AU http://jayantbhandari.com/latest-musings/indiagettingworse/ #nickel
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from #index,
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@Sarb Thanks for the link @MartinTurenne. $FPX Tenbagger ? This may not be a #hotpick today, but rather a buy and hold stock for longer term. Hope Nickel prices improve from this point.
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@MartinTurenne http://www.kereport.com/wp-content/uploads/0415-1-3.mp3 After the 7:30 mark Jayant Bhandari gives his thoughts on $IRV $NVO and $FPX
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@MartinTurenne I've been a skeptic on batteries as a significant driver of #nickel demand, but this article from Roskill and recent pronouncements by Glencore suggest battery demand could go from current 80ktpa (or approx. 4% of current annual global nickel demand) to 400kpta by 2025 (or approx. 20% of global annual demand). "In Roskill’s view, this potential upside for nickel is not yet priced into the market." https://roskill.com/news/nickel-market-beware-batteries-can-no-longer-ignored/ $fpx
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