UKBouldering.com

'Buy the Dip, Sell the Rip'.. The Investor's Thread (Read 25881 times)

petejh

Offline
  • *****
  • forum hero
  • Posts: 4679
  • Karma: +495/-27
Pete, any thoughts on Aluminium Ion batteries?

Still haven't researched the alu batteries, but on aluminium in general I read this today on a couple of commodities investors' feeds:
 





Useful overview by Mark Thompson of where we are on the commodities investment cycle:

Fultonius

Offline
  • *****
  • forum hero
  • Posts: 3331
  • Karma: +101/-3
  • Was strong but crap, now weaker but better.
    • Photos
Crypto - wonder why Ethereum Classic is rocketing?  It's got no real use, no prospect of ETH 2.0 Proof of Stake. Just bandwagonism?

I've recently just got back on the cypto-train. More diversified than last time. Happened to put some into ETC as it seem to be on the up, now up 108% in the last 24 hours.

I'm wondering about using StableCoins (Algorand etc.) as a store when "out" of trades, rather than going back to GBP to save on fees. You get 6% return in coinbase for any stored ALG.

Going to keep a small about of ETH and BTC for long shots, and do a bit of arbitrage on the other smaller things. Might take a few punts on some things that sound like they have some genuine future utility (Celo etc.)

remus

Offline
  • *****
  • forum hero
  • Posts: 1507
  • Karma: +69/-1
Nothing useful to add, but your post reminded me I bought some ethereum about a year ago so had a quick look at my crypto wallet and realised I've made a 1450% gain on it :lol: The initial purchase wasn't any serious money though so sadly retirement is still a way off.

Fultonius

Offline
  • *****
  • forum hero
  • Posts: 3331
  • Karma: +101/-3
  • Was strong but crap, now weaker but better.
    • Photos
Nothing useful to add, but your post reminded me I bought some ethereum about a year ago so had a quick look at my crypto wallet and realised I've made a 1450% gain on it :lol: The initial purchase wasn't any serious money though so sadly retirement is still a way off.

 :dance1: :dance1:

CrimpyMcCrimpface

Offline
  • *
  • regular
  • Posts: 50
  • Karma: +4/-0
I'm wondering about using StableCoins (Algorand etc.) as a store when "out" of trades, rather than going back to GBP to save on fees. You get 6% return in coinbase for any stored ALG.
ALGO likely to be popular with newcoiners using Cbase so its probably a safe bet, seems to be still the most popular on-ramp. Check out Blockfi if you're looking for interest on stablecoins, 9.3% APY on USDT and you can elect into which currency your paid (ETH, BTC, LINK etc). Terrible for trades though you will lose >2% on the spread easily. Alternatively you can use an exchange with lower fees(FTX - who also have lending/staking). 

Coops_13

Offline
  • *****
  • forum hero
  • Posts: 1033
  • Karma: +47/-0
    • YouTube
I'm wondering about using StableCoins (Algorand etc.) as a store when "out" of trades, rather than going back to GBP to save on fees. You get 6% return in coinbase for any stored ALG.
ALGO likely to be popular with newcoiners using Cbase so its probably a safe bet, seems to be still the most popular on-ramp. Check out Blockfi if you're looking for interest on stablecoins, 9.3% APY on USDT and you can elect into which currency your paid (ETH, BTC, LINK etc). Terrible for trades though you will lose >2% on the spread easily. Alternatively you can use an exchange with lower fees(FTX - who also have lending/staking).
Yup, I just sold my ETH (nice gains to help with house down payment in not too distant future) and have it safely in USDC earning a steady 8.6%. Gimme a shout if anyone wants a Blockfi referral code  ;D

JohnM

Offline
  • ****
  • junky
  • Posts: 847
  • Karma: +60/-0
I'm wondering about using StableCoins (Algorand etc.) as a store when "out" of trades, rather than going back to GBP to save on fees. You get 6% return in coinbase for any stored ALG.
ALGO likely to be popular with newcoiners using Cbase so its probably a safe bet, seems to be still the most popular on-ramp. Check out Blockfi if you're looking for interest on stablecoins, 9.3% APY on USDT and you can elect into which currency your paid (ETH, BTC, LINK etc). Terrible for trades though you will lose >2% on the spread easily. Alternatively you can use an exchange with lower fees(FTX - who also have lending/staking).
Yup, I just sold my ETH (nice gains to help with house down payment in not too distant future) and have it safely in USDC earning a steady 8.6%. Gimme a shout if anyone wants a Blockfi referral code  ;D

Did you buy the ETH this year? You get stung for CGT if you buy and sell within the same year don't you?

Johnny Brown

Offline
  • *****
  • forum hero
  • Posts: 10880
  • Karma: +593/-20
I didn't think it mattered what year you sell in? Capital Gains Allowance is £12,300 though, so you need to be making a lot before you have to pay it.

JohnM

Offline
  • ****
  • junky
  • Posts: 847
  • Karma: +60/-0
I didn't think it mattered what year you sell in? Capital Gains Allowance is £12,300 though, so you need to be making a lot before you have to pay it.

I was thinking more in the US. I thought he was US-based.

sdm

Offline
  • ***
  • obsessive maniac
  • Posts: 465
  • Karma: +18/-1
I'm wondering about using StableCoins (Algorand etc.) as a store when "out" of trades, rather than going back to GBP to save on fees. You get 6% return in coinbase for any stored ALG.
ALGO likely to be popular with newcoiners using Cbase so its probably a safe bet, seems to be still the most popular on-ramp. Check out Blockfi if you're looking for interest on stablecoins, 9.3% APY on USDT and you can elect into which currency your paid (ETH, BTC, LINK etc). Terrible for trades though you will lose >2% on the spread easily. Alternatively you can use an exchange with lower fees(FTX - who also have lending/staking).

I would be extremely wary of holding anything in USDT:
1) Tether consistently refuses third party audits for its backing. It was reviewed three years ago (I think this was the closest they ever came to a full audit) when they only had backing for 74% of their minted coins.
2) Some of its senior personnel have rather worrying rap sheets.
3) They severed ties with their previous reserve bank and moved to an offshore reserve bank after their previous bank refused to confirm existence of the $1.8bn supposedly held there in reserve. A primary school level fake letter then appeared on social media supposedly from the bank confirming the reserves exist.
4) There are unresolved issues about how their bitfinex debt was paid. One hopes this was not paid from the reserves...

I'll use USDT for a few minutes/hours for a trade because it has higher liquidity than the other stable coins for most pairings. For anything longer term, I wouldn't touch it.

At least USDC and BUSD are regularly audited by a third party and are confirmed to be 100% backed, although Binance's shadiness is another concern.

petejh

Offline
  • *****
  • forum hero
  • Posts: 4679
  • Karma: +495/-27
The CGT in the US is I think 20% for average earners, same as the UK. The US tax system looks complicated as hell. Biden talking about a massive increase in cgt for the wealthiest. Doesn't matter what year you buy/sell, any gain over the personal allowance is taxable. Any losses within 3 years offset any gains. The way to avoid cgt in the UK is to trade everything you can within an ISA up to £20k per year (or don't make any profit from trades in non-ISA accounts..).
US cgt plans:  https://www.forbes.com/advisor/investing/biden-capital-gains-tax-plan/


I don't trade cryptos themselves for a couple of reasons - faff with wallets, I simply don't trust some of the players involved in the platforms (see above from sdm), but most pertinently I don't want to pay CGT on any gains, nor any transaction fees for converting crypto to sterling. So I just trade the crypto miners on the stock market. That way I can trade the price of bitcoin within my ISA and keep any gains tax-free. ARB is my short-term trade for getting in/out of bitcoin (currently out). It's not a perfect correlation to BTC's performance but I returned 300% on ARB from BTC's rise in February.
How to trade crypto without paying cgt: https://www.telegraph.co.uk/investing/shares/how-add-bitcoin-isa-profit-tax-free/


Coops_13

Offline
  • *****
  • forum hero
  • Posts: 1033
  • Karma: +47/-0
    • YouTube
I'm wondering about using StableCoins (Algorand etc.) as a store when "out" of trades, rather than going back to GBP to save on fees. You get 6% return in coinbase for any stored ALG.
ALGO likely to be popular with newcoiners using Cbase so its probably a safe bet, seems to be still the most popular on-ramp. Check out Blockfi if you're looking for interest on stablecoins, 9.3% APY on USDT and you can elect into which currency your paid (ETH, BTC, LINK etc). Terrible for trades though you will lose >2% on the spread easily. Alternatively you can use an exchange with lower fees(FTX - who also have lending/staking).
Yup, I just sold my ETH (nice gains to help with house down payment in not too distant future) and have it safely in USDC earning a steady 8.6%. Gimme a shout if anyone wants a Blockfi referral code  ;D

Did you buy the ETH this year? You get stung for CGT if you buy and sell within the same year don't you?
If you hold for over a year (like my ETH) then it will be long term capital gains (0%, 15% or 20% dependent on income). If under a year (like my other crypto - not sold yet), then it's taxed like income - marginal rates + state + social + medicare...

No free lunch like in the UK... GUSD is another stablecoin that is 100% backed

36chambers

Offline
  • *****
  • forum hero
  • Posts: 1389
  • Karma: +104/-4
I don't trade cryptos themselves for a couple of reasons - faff with wallets

If anyone's looking into storing crypto in a hardware wallet (rather than on Coinbase, or wherever) I highly recommend the Ledger Nano S https://shop.ledger.com/products/ledger-nano-s

I use it alongside their desktop app (Ledger Live) which allows you to easily transfer crypto after you've plugged in the Nano and entered a pin.

They currently cost £54.50, so not super cheap, but well worth it for piece of mind and if you're thinking of holding long term.

CrimpyMcCrimpface

Offline
  • *
  • regular
  • Posts: 50
  • Karma: +4/-0
I've never really been too concerned about the tether controversy but i'll consider it thanks for the points.

I understand you can trade tax neutral if you take profits into a SIPP, as the gov gives you 20% on deposits. A friend of mine does this. Most SIPP providers are exchanges too so you can run profits back into other investments. SIPPs do have service charge and you can't drawdown until 55 but it all depends on your time horizon.

Fultonius

Offline
  • *****
  • forum hero
  • Posts: 3331
  • Karma: +101/-3
  • Was strong but crap, now weaker but better.
    • Photos
Nothing useful to add, but your post reminded me I bought some ethereum about a year ago so had a quick look at my crypto wallet and realised I've made a 1450% gain on it :lol: The initial purchase wasn't any serious money though so sadly retirement is still a way off.

 :dance1: :dance1:

P.S.  Re-read a lot of this thread this morning and yesterday - should have listened to Pete / NorthStar back in Feb about Ether. Realise we're now in the tail end of the current run so a risky time to be catching ups.

ETH : 


^These arcs, is the idea that once they're done all bets are off, or is the expectation that it will follow the channel onwards?


Is it more likely it'll cool off and start a new arc?

[obviously, ignoring the fact this is mainly tea-leaf reading...but still...]

Fultonius

Offline
  • *****
  • forum hero
  • Posts: 3331
  • Karma: +101/-3
  • Was strong but crap, now weaker but better.
    • Photos
I'm a bit frustrated with myself looking at the terrible growth of my two previous workplace pensions over the last 10 years. But, as Habrich etc. said before - it's not really a "good" time to be getting into this at the top of the market with all the QE pumping things up.

Either way, I've amalgamated both my old pensions into a SIPP and I'm now researching the best mix to satisfy my leanings and aims. It's all very long term (I'm 38) but it doesn't make sense to put it into anything right now that might take a big plunge. Just aiming for a mix of steady funds around the globe without too much exposure to US Tech. Wondering about some bonds (10% ish). There seem to be some interesting things in the world of Climate Investment Bonds which I'm reading up on now. https://www.climatebonds.net/

petejh

Offline
  • *****
  • forum hero
  • Posts: 4679
  • Karma: +495/-27
Bit of an update, 4 weeks on. The tin and copper markets are hitting ATHs. 2021 definitely the year to be in the 'transition' metals. Much I could waffle about, it all boils down to DYOR but as you'll see below for those with time to do the research and means to take advantage there are gems out there in this current commodities market, with potential for life-changing gains.

Bit of an update, I'll focus on companies in which I've recently invested.

Greatland Gold (in @1.5 & recently @18.5) Currently 20.40  +10.2%
Broke out from it's recent downtrend over the last couple of days, technically looking strong for high 20s/low 30s. I'll be selling some if it hits the high 20s, likely to drop back here from sellers who bought into the last hype-fuelled rise at the high 20s/low 30s, bailing out to break even following the drop. Keeping a core holding for the long term as the deposit is a no-brainer. Short term trade & 2-5 year hold
Now expecting this to move sideways until starting to rise later in the year towards release of the PFS. Outside chance of a home-run discovery at one of their projects in P.R.E. or Scally, otherwise just a solid long-term hold.

Alphamin (in @ 0.57) Currently 0.76  +33%
Released quarterly earnings last week, excellent results and the year ahead looking even better on the back of tin shortage and exploration upside at Mpana south. Very positive, debt free by summer and even talk of a dividend. 2-5 years hold.
Hallgarten broker upgraded their 12-month price target to 0.80 on April 6th. https://alphaminresources.com/wp-content/uploads/2021/04/Alphamin_April21_Update_2.pdf
Good overview on the investment case here on value investor: https://www.valueinvestorsclub.com/idea/ALPHAMIN_RESOURCES_CORP/4744168116
Quarterly earnings were good, but the next 3-4 quarters are going to be incredible! To top it they just released the much antipicated exploration results from their Mpana South project.. basically a mirror image of what they have in production at Mpana North. Barring guerrilla attack or government takeover (had to get that caveat in) this will be $1+ very soon or I'll bum doylo.
 
Filo Mining (in @ 2.98 & 3.50) Added more @ 8.79  Currently 9.39  +215%
Got in the day before drill results were reported. Excellent results! Many more assays to report over the coming 6 months. Very happy about the growth prospects of the Filo de la Sol prospect. 6-12 months hold.
https://www.newswire.ca/news-releases/filo-mining-reports-942m-at-0-67-cueq-extends-the-deposit-1-000m-to-the-north-801298452.html
I have loads of research I could share on Filo if anyone's interested. Long story short, last week's results blew up expectations, and indicate this will be the biggest copper-gold discovery in the last 20 years. By the end of this year it'll be at $20+ and a takeover could easily be in region of $40. This sort of investment doesn't come around very often in an investor's lifetime - I did it once with GGP, and I may have done it again with Filo. Thanks to one very smart person passionate about sharing truth.

Meridian Mining ( in @ 0.45) Added more @ 0.65 Currently 0.78  +73%
Got in on the back of xrf results  of drill core showing very high grades at their Cabacal project (unusual approach to report xrf grades and a bit frowned upon). Awaiting assays back from the lab to confirm - should be late April/early May, but looking good here to grow into a large VMS project. Pretty excited about this project, which is one of a few win the last couple of years following the narrative of 'old mine that was uneconomic and forgotten about, being re-explored based on today's and future prices of copper/gold'. Good outline here: https://twitter.com/MeridianMining/status/1382773725876080641?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Etweet
6-12 months hold.
Another amazing solid investment. Plenty going on here. Again I can supply a lot of research on this one.

Centaurus Metals (in @ 0.78) Currently 69.5  -11%
Released a very positive scoping study for their Jaguar nickel deposit recently which the market sold into, price slowly floating back up. 2-5 years hold.
No worries here, long term hold.

KEFI mining (in @ 0.230)  Currently 0.196  -11%
Took a punt on this one the day after it broke long term resistance on expectations of a positive decision on funding for it's project in Ethiopa. Announcement yesterday that funding decision delayed until June. Holding pattern, sell on news.
Same, waiting for finance announcement end of May/early June.
 
Cornish Metals (in @ 0.10)  Currently 0.15  +50%
Drilling commenced in early April at their United Downs project to confirm historic high grade tin. Results expected May/June. Company received permit to dewater South Crofty, plus other related permits for surface infrastructure. Very much dependant on United Downs confirming the historic high grade tin grades. Could do very well on the momentum behind tin. Hold until assays then decide.
Assays not far off now, if they replicate the good widths of high grade tin of last results then this will rocket (even more..), if the results don't replicate then...  The dewatering of South Crofty has commenced, will take 8-24 months. Price of tin will have made it a precious metal by then at the current rate of increase.

Trackwise (in @ 2.60)  Currently 2.41  -7%
Won £38m contract last year to supply their printed witing harness technology to Arrival - the EV bus and van manufacturer who are setting up a manufacturing facility in the UK (and elsewhere globally) this year. Raised £11 million last November to quadruple production of its IHT wiring harness by Q4 this year. Various rumours circulating of an aerospace and/or medical contract, plus increase in size of the EV contract. 2-5 year hold
No worries here, long term hold.

Ilika (in @ 2.15)  Currently 2.15  +0%
Announced they'd won a £250,000 grant from the advanced propulsion centre, to collaborate with Comau to tool up a large-scale manufacturing line, using the UK's Battery Industrialising Centre facility to produce their Goliath solid state battery at scale.
Good little Q&A here regarding the plan: https://www.directorstalkinterviews.com/ilika-qa-continuing-to-improve-goliath-technology-and-scaling-up-with-the-apc-grant-lonika/412976816
Berenberg appointed as broker last week, issued their price target of £3.20 (paywalled)
Various positive news around battery production and EVs, very hot sector at the moment. This FT article for e.g.  https://www.ft.com/content/c4e075b8-7289-4756-9bfe-60bf50f0cf66
2-5 year hold.
No worries here, long term hold.


Copper the new oil..
« Last Edit: May 17, 2021, 10:38:13 pm by petejh »

kelvin

Offline
  • *****
  • forum hero
  • Posts: 1213
  • Karma: +57/-1
Bit of an update, 4 weeks on. The tin and copper markets are hitting ATHs. 2021 definitely the year to be in the 'transition' metals. Much I could waffle about, it all boils down to DYOR but as you'll see below for those with time to do the research and means to take advantage there are gems out there in this current commodities market, with potential for life-changing gains.

Bit of an update, I'll focus on companies in which I've recently invested.

Greatland Gold (in @1.5 & recently @18.5) Currently 20.40  +10.2%
Broke out from it's recent downtrend over the last couple of days, technically looking strong for high 20s/low 30s. I'll be selling some if it hits the high 20s, likely to drop back here from sellers who bought into the last hype-fuelled rise at the high 20s/low 30s, bailing out to break even following the drop. Keeping a core holding for the long term as the deposit is a no-brainer. Short term trade & 2-5 year hold
Now expecting this to move sideways until starting to rise later in the year towards release of the PFS. Outside chance of a home-run discovery at one of their projects in P.R.E. or Scally, otherwise just a solid long-term hold.

Alphamin (in @ 0.57) Currently 0.76  +33%
Released quarterly earnings last week, excellent results and the year ahead looking even better on the back of tin shortage and exploration upside at Mpana south. Very positive, debt free by summer and even talk of a dividend. 2-5 years hold.
Hallgarten broker upgraded their 12-month price target to 0.80 on April 6th. https://alphaminresources.com/wp-content/uploads/2021/04/Alphamin_April21_Update_2.pdf
Good overview on the investment case here on value investor: https://www.valueinvestorsclub.com/idea/ALPHAMIN_RESOURCES_CORP/4744168116
Quarterly earnings were good, but the next 3-4 quarters are going to be incredible! To top it they just released the much antipicated exploration results from their Mpana South project.. basically a mirror image of what they have in production at Mpana North. Barring guerrilla attack or government takeover (had to get that caveat in) this will be $1+ very soon or I'll bum doylo.
 
Filo Mining (in @ 2.98 & 3.50) Added more @ 8.79  Currently 9.39  +215%
Got in the day before drill results were reported. Excellent results! Many more assays to report over the coming 6 months. Very happy about the growth prospects of the Filo de la Sol prospect. 6-12 months hold.
https://www.newswire.ca/news-releases/filo-mining-reports-942m-at-0-67-cueq-extends-the-deposit-1-000m-to-the-north-801298452.html
I have loads of research I could share on Filo if anyone's interested. Long story short, last week's results blew up expectations, and indicate this will be the biggest copper-gold discovery in the last 20 years. By the end of this year it'll be at $20+ and a takeover could easily be in region of $40. This sort of investment doesn't come around very often in an investor's lifetime - I did it once with GGP, and I may have done it again with Filo. Thanks to one very smart person passionate about sharing truth.

Meridian Mining ( in @ 0.45) Added more @ 0.65 Currently 0.78  +73%
Got in on the back of xrf results  of drill core showing very high grades at their Cabacal project (unusual approach to report xrf grades and a bit frowned upon). Awaiting assays back from the lab to confirm - should be late April/early May, but looking good here to grow into a large VMS project. Pretty excited about this project, which is one of a few win the last couple of years following the narrative of 'old mine that was uneconomic and forgotten about, being re-explored based on today's and future prices of copper/gold'. Good outline here: https://twitter.com/MeridianMining/status/1382773725876080641?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Etweet
6-12 months hold.
Another amazing solid investment. Plenty going on here. Again I can supply a lot of research on this one.

Centaurus Metals (in @ 0.78) Currently 69.5  -11%
Released a very positive scoping study for their Jaguar nickel deposit recently which the market sold into, price slowly floating back up. 2-5 years hold.
No worries here, long term hold.

KEFI mining (in @ 0.230)  Currently 0.196  -11%
Took a punt on this one the day after it broke long term resistance on expectations of a positive decision on funding for it's project in Ethiopa. Announcement yesterday that funding decision delayed until June. Holding pattern, sell on news.
Same, waiting for finance announcement end of May/early June.
 
Cornish Metals (in @ 0.10)  Currently 0.15  +50%
Drilling commenced in early April at their United Downs project to confirm historic high grade tin. Results expected May/June. Company received permit to dewater South Crofty, plus other related permits for surface infrastructure. Very much dependant on United Downs confirming the historic high grade tin grades. Could do very well on the momentum behind tin. Hold until assays then decide.
Assays not far off now, if they replicate the good widths of high grade tin of last results then this will rocket (even more..), if the results don't replicate then...  The dewatering of South Crofty has commenced, will take 8-24 months. Price of tin will have made it a precious metal by then at the current rate of increase.

Trackwise (in @ 2.60)  Currently 2.41  -7%
Won £38m contract last year to supply their printed witing harness technology to Arrival - the EV bus and van manufacturer who are setting up a manufacturing facility in the UK (and elsewhere globally) this year. Raised £11 million last November to quadruple production of its IHT wiring harness by Q4 this year. Various rumours circulating of an aerospace and/or medical contract, plus increase in size of the EV contract. 2-5 year hold
No worries here, long term hold.

Ilika (in @ 2.15)  Currently 2.15  +0%
Announced they'd won a £250,000 grant from the advanced propulsion centre, to collaborate with Comau to tool up a large-scale manufacturing line, using the UK's Battery Industrialising Centre facility to produce their Goliath solid state battery at scale.
Good little Q&A here regarding the plan: https://www.directorstalkinterviews.com/ilika-qa-continuing-to-improve-goliath-technology-and-scaling-up-with-the-apc-grant-lonika/412976816
Berenberg appointed as broker last week, issued their price target of £3.20 (paywalled)
Various positive news around battery production and EVs, very hot sector at the moment. This FT article for e.g.  https://www.ft.com/content/c4e075b8-7289-4756-9bfe-60bf50f0cf66
2-5 year hold.
No worries here, long term hold.


Copper the new oil..

Cheers for the update (I've been silently following) and it's nice to see some good movement in their/your results.

I have a bit of cash coming free in a month's time and have nothing in this year's ISA allowance. So I might take a bite at FFilo
*although my Mrs makes copper jewellery and just watching the cost of that go up this year has been wallet breaking

sdm

Offline
  • ***
  • obsessive maniac
  • Posts: 465
  • Karma: +18/-1
I don't think Filo is eligible to be held in ISAs?

kelvin

Offline
  • *****
  • forum hero
  • Posts: 1213
  • Karma: +57/-1
I don't think Filo is eligible to be held in ISAs?

That's me not explaining fully and no sleep last night - I mean, use the ISA and the rest in Filo.

Fultonius

Offline
  • *****
  • forum hero
  • Posts: 3331
  • Karma: +101/-3
  • Was strong but crap, now weaker but better.
    • Photos

AJM

Offline
  • ***
  • obsessive maniac
  • Posts: 344
  • Karma: +18/-0
I don't think Filo is eligible to be held in ISAs?

How so?

https://www.hl.co.uk/shares/shares-search-results/f/filo-mining-corp-common-stock-npv

Yeah I thought you could, although potentially there's some sort of Canadian tax paperwork faff to sort out (I don't know, but you have to do something for US shares don't you to address the tax stuff?).

Fultonius

Offline
  • *****
  • forum hero
  • Posts: 3331
  • Karma: +101/-3
  • Was strong but crap, now weaker but better.
    • Photos
 You need to do a form that takes 2 mins.

sdm

Offline
  • ***
  • obsessive maniac
  • Posts: 465
  • Karma: +18/-1
Thanks for the correction.

petejh

Offline
  • *****
  • forum hero
  • Posts: 4679
  • Karma: +495/-27
I don't think Filo is eligible to be held in ISAs?

That's me not explaining fully and no sleep last night - I mean, use the ISA and the rest in Filo.

Filo available in isa depending on your broker. I use II and they allow all sorts of minor international markets in my isa account.


4 brokers raised their price targets for filo since last Thursday’s drill results. Interim price targets:
BMO $11 from $4.50
Cannacord Genuity $13 from $5
National Bank of Canada $12.75 from $6
Haywood revised theirs last Friday,  to $11.50 from $5


3 risks to be aware of with Filo:
1. There will likely be a capital raise in the coming months to fund the increased year-round drilling required to prove up such a massive discovery. This will be minorly dilutive - $50m would currently represent around 5% of market cap. Filo are in the driving seat and can pick their moment.
2. There are two zones of copper mineralisation - oxide cap (lower grade, shallow open pit) and sulphide zone (high grade, underground bulk mining). The sulphides contain an arsenic component. Arsenic is deleterious to value from the smelter. How deleterious depends on the ratio between grade of copper versus ppm of arsenic. High grade copper negates much of the deleterious impact of arsenic. Low grade copper plus high amounts of arsenic = problem. Filo don’t have that problem according to the latest investor webinar on Monday, but they’re carrying metallurgy on the ore and will report on findings.
3. The deposit straddles the Argentina/Chile border. Thankfully 90/10 Argentina-Chile. Chilean politicians are trying to pass a massive tax hike on mining supposedly to help pay for covid hit, which would result in a 75% tax rate when copper is over $4 per pound (current spot price $4.55). This is a massive disincentive for miners to open new projects in chile and is expected to result in exodus of investment and raising copper prices even further. Filo don’t need to mine the Chilean part of the ore, the best grades and the meat of it are on the Argentina side. Risk is of other s.american countries following Chile. Peru’s leading presidential candidate is talking about a similar policy. Brazil and Argentina aren’t, but could. Ultimately would send the copper market into a frenzy if those policies come about and would work against them as the big miners will just shut down their investment into those countries and limit operations until things change. There’s no point mining with an added 40% overhead, the minerals aren’t going anywhere and prices will go ballistic if they don’t mine. 
Info: https://www.bloomberg.com/news/articles/2021-05-06/in-top-copper-nation-chile-a-giant-tax-hike-moves-a-step-closer


The upside is genuinely massive. The next two holes are pending reporting to market and some think they’ll be very meaty (bearing in mind the last hole reported was the best copper intercept in decades). Hole 46 goes beyond 1500m and Hole 52 a vertical step out hole to the north to confirm a zone where they’ve already had good grades.
« Last Edit: May 19, 2021, 04:32:56 pm by petejh »

 

SimplePortal 2.3.7 © 2008-2021, SimplePortal