» Topic: IvanhoeBonner & Partners

Monday, 22 January 2018

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This topic contains 2 replies, has 3 voices, and was last updated by  JEFFERSON Y. 4 years, 3 months ago.

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    Is Rick Rule still bullish on Ivanhoe as a speculative play ?


    CLIVE R.

    I don’t know what Rick thinks now, but I can give you my opinion. IVN has increased about 40% since it was revealed to us. It must be because of the “go ahead” in DRC (Congo) for their copper deposit. Rick’s recommended gold mine in Armenia LYDIF has declined by 50% because of political hazard, in spite of the rich gold deposit and Armenia’s need for money. I guess somebody wants more of a cut.
    The other part of IVN, other than Cu, is the platinum group metals mine in South Africa. The deposit is enormous, but the value to investors is troublesome. The mine unions in South Africa are striking. Mines are closing, particularly old, marginal gold mines. There is no relief in sight. At current prices of PGM the mines cannot afford to pay miners more and the unions are playing unrealistic politics with their demands. Apparently the unions don’t care if their members lose their jobs forever in mine closures.
    Will the price of PGMs increase? Probably some time, but there is a lot of PGM stored in Europe. Will China, a potential large consumer of Pt/Pd, regulate its air quality by installing Pt/Pd converters into car exhaust systems and smoke stacks? They are desperately needed, but it is unlikely they will do so. Communist countries are notorious polluters. China is no exception.
    Will either Cu or Pt increase in a world wide market decline? I don’t think so. I think it may be a few years before these mines in IVN become profitable. Dr. Copper won’t like “slow growth”.
    I would like to know from anyone who has an ear to the regulators in China if there is any real thought about introducing “converters”. Anyone tuned in there?


    MARC S.

    Rick described Robert Friedland as probably the greatest promoter in our lifetime…….He is certainly putting his money where his mouth is as in the financing underway he will write a cheque for $25 million!…..See below (extracted from IVN press release )

    Under the agreed terms, the company will issue no less than 50 million new Class A common shares at $2 per share to raise a total of $100-million — and potentially may issue up to a total of 54 million common shares, which would raise up to $108-million. Mr. Friedland will subscribe for $25-million of the offering, effectively proportionate to his holding in the company.

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