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World's Top Steelmaker Warns Of "Harsh Winter" Amid Growing Fears Of 2008 Or 2015-Style Downturn
World's Top Steelmaker Warns Of "Harsh Winter" Amid Growing Fears Of 2008 Or 2015-Style Downturn
I read through it very quickly and will read it more thoroughly later.
Am I reading this right and understanding between the lines that while there is a chance, most likely it's not going to open any time soon and the investors are basically screwed?
I don't know about Spiderman, but I can tell you I'm down almost 30K on this one.
All they would have to do is announce they are moving forward and making some kind of progress, and it would make a jump...... crickets....
Maybe, if Kearney would get off his ass!!! Maybe that's not being fair. Maybe they are doing something behind the scenes. Maybe they are lining up investors. Maybe they are working on off-take agreements. Maybe they are negotiating contracts. Maybe they are getting contractors lined up to build the railway siding.
IF THEY ARE THEY SHOULD TELL THEIR INVESTORS THOUGH!
Dang.... I almost feel inadequate. I've only got 165K shares with an average of $.20. Average is high b/c I bought a bunch after the PEA came out, and I thought they were going to do something soon.
Well, Iron ore hit $120 pmt today. While I don't have near the shares as some of you, we could be making a crapload of money if they would ever get around to actually opening the mine.
Maybe I'm off my rocker, but here's a thought. While I was reading the Iron Ore in Labrador document that Bobblheadtwin posted the link to I was studying the map on there that showed the Labrador Mine, in red, showing it is an actual mine.and then there are four or five "Iron Ore Projects" North of the Labrador mine. One of the big costs, if I remember from the PEA was building the rail line. Looking at it from that point of view, why would I spend a crap load of money to build a rail line when I can wait a little bit and someone else is going to have to build it right next to me.
I compare this to having electricity put into an undeveloped area. I used to have a hunting property that the closest electric pole was a couple of miles away. I checked into getting it to my property and it was going to be $30K-$40K. Not happening for me, so I bought a generator. Over the next couple of years 2 or 3 people in between me and the electric poles had it put in on their property. I ended up selling the property but the last time I checked, because of how far the poles had advanced, it was only going to cost $9K to have it run out to my place.
Just a thought.....
Now if we only had an operational mine.....LOL
Not sure why, but Trading economics changed their forecast on the price of iron ore in 12 months from $77 to $101. If they are right, that is outstanding news.
Trading Economics
Yep..... It's been a long day. My brain must be fried.
I did the math. He said Anglesey stock, once Houston gets into operation, should be worth $2 Million pounds ($2,303,319.63 U.S. Dollars).
Anglesey currently owns 19,289,100 shares.
To be worth $2 million pounds, the stock price would have to hit $8.31 per share. To make $2M, it would have to go higher than that.
I would be VERY happy with $5 a share, but if he is correct is his speculation, and it gets over $8, I think most of us would be ecstatic......
This one has been a loooonnnnngggggg wait, but I think it is going to be well worth it.
We could have Harleys for everybody and go on a LBRMF Investor hub victory ride.
"Fitch forecasts iron-ore production in Australia to grow at an average yearly rate of 0.4% between 2022 and 2026."
Forsecast
Most likely because this will only cover "near term" goals. It will not get the mine open and there is a lot of unfunded things to do before it can open. Until they have financing for the rail, road and equipment rental and buyer (IE off-take agreement), that will show they are going to be able to pull this off, I doubt it will change much.
Where did you get that number? I got mine off of Simply Wall Street.
Ownership Name Shares Current Value Change % Portfolio % 19.99%
Gerald Holdings LLC 32,456,648 CA$2.9m 0% no data 11.88%
Anglesey Mining plc 19,289,100 CA$1.7m 0% no data 1.93%
Energold Minerals, Inc. 3,138,269 CA$282.4k 0% no data 0.34%
D. Hooley 559,238 CA$50.3k 0% no data 0.24%
John Kearney 385,001 CA$34.7k 0% no data 0.092%
Danesh Varma 150,000 CA$13.5k 0% no data 0.046%
Gerald Gauthier 75,000 CA$6.8k 0% no data
Possibly.... Right now Kearney only owns 385,001 shares (.024% of outstanding shares).
Sinosteel signs $690 million deal for Cameroon iron ore mine
Sinosteel signs $690 million deal for Cameroon iron ore mine
Yeah, I am in the same position. I am down about $18K at the moment, but I haven't lost optimism. I still think (hope) it is a matter of time.
Just remember: The world’s most successful investor, Warren Buffet, famously said “The stock market is a device for transferring money from the impatient to the patient”
I picked up EGY 2 years ago after researching the companyand doing my DD. I couldn't figure out why the stock wasn't higher (good management team, no debt, etc, etc). I knew it had to go higher eventually. I bought 1500 shares at $1.24 and I had to tell myself over and over.... the stats are good, the company is solid just be patient.. I just sold 1000 shares of it last month at around $8 (over 400% gain) It is back down now to around $6.70 I am still holding about 500 shares and am pretty sure if things keep going the way they are, it will hit $9 or $10 if not higher.
I did the same with NSSC..... I bought it at around $2 in 2014. I held it for 6 years and finally sold it around $22 (over 2000% profit). I should have waited until it hit $25 but I didn't want to be greedy and knew it wouldn't last but didn't know when the drop would start. BTW, it is still around $17, which would be a good profit..
Labradors time will come.....
Part of the reason this hasn't gone up is because it is on the OTC. They need to move it back to the TSE like it used to be back in 2014. A lot of people that would invest won't because it is still on the OTC.
On the conference call last year they talked about moving it back but like getting financing, they haven't gotten around to it.
OK... How about getting a pool / vote going?
When will Labrador make an announcement on financing / off-take agreement?
Within:
30 days
60 days
90 days
6 months
Next year
Next 2 years
Next 5 years
Never
(I'll go with 60 days.)
Yeah, I'm starting to wonder....
Like maybe a baseball bat upside the head.....LOL
Iron ore forecast changed again. Now, if they would just make an off-taker agreement announcement and open the damn mine....
Iron Ore Forecast
Don't know if this has been posted before.
Global Iron Ore Mining Outlook
Apologies.... got sidetracked.
Correct. They would never have tried this under Trump, but now we have an illegitimate, weak piece of crap pretending to be President and they don't think he will do anything....and they are right.
What helps to hold China back on Taiwan is Japan. Japan kicked China's butt consistently for hundreds of years and they are starting to get pretty irritated at China again.
This will be interesting to see how this plays out.
It's not about the situation in the Ukraine. If the US does nothing, (sanctions count as nothing), China will take it as weakness and will invade Taiwan. We can't stand for that, and Japan and South Korea won't. In addition, that presents North Korea an opportunity to change it's circumstances / world status and will side with China and invade South Korea. Therefore it will end up being, China, Russia, Iran, and North Korea against NATO.
I could go into the problems with NATO, but that is another story...