By Tshepo Magagane My read – yes, balance sheet is stronger BUT I dont think you can price a Tier 1 asset right now. Will be like trying to sell a stake in an Iron Ore asset in 2003. Price was 30/t – in 05 went up to 65/t – think about that – it […]
Arsenal – Can They Ever Win The League?
By Tshepo Magagane Investing / Commodities lesson! Was having this conversation with a distressed debt investor I worked with around 09 about this. He was linking it to investing – especially a question that he liked in interviews “X is trading at 2 but you analysis says 5” …you buy in and sell at 4 […]
Copper – Valuation Pulse Check!
Tshepo Magagane Hudbay sells 30% of the project for an implied valuation of USD2bn – Tier 2 project and focuses on the Cu grades in the attached. Why whoever solves this conundrum of these 0.6-1% projects in Zambia will unlock generational wealth creation multiples of what we saw with Iron Ore in Australia. This is […]
Strategic Equities in Mining
By Tshepo Magagane They are no longer there but remember that they unlocked every project you see out there producing across different commodities. Without them the world of Mine Finance is excessively challenging. NB: remember these stats – our team had a book of USD10bn (I am excluding PF, DL, SL, TF here) to support […]
The Emperor Truly Has No Clothes
By Tshepo Magagane When QE started post GFC, the below was our overriding thesis at the HF – note the emphasis on real assets such as Commodities; it is even more urgent now, the USD is being debased (the US is like an EM country that has been taken over by a military dictator – […]
🎯OST: A Case Study Of“Push‑and‑Dump”
By Ceaser Siwale ⚡️ Price Action Summary Between mid‑June and early July, OST skyrocketed from ~$3.16 to ~$9.02, driven by heavy volume and speculative chatter, only to be followed by a brutal collapse: 📉 Financial Snapshot: Fundamentals in Decline Despite the rally attempt: 🔍 Suspicion of “Pump‑and‑Dump” Key hallmarks appear in trading data and community activity: 🧠Technical & Volume Behaviour đź’µ Business vs […]
No One Is Coming To Save Us!
Africa capital solutions starting to take shape… We just did last mile capital into PF for a mining project; this was local capital! We are working to unlock the Western Corridor of Zambia – DBSA, FQM, BHL, and others – local & regional capital pools! Why I always say, you need for the GEPF, PIC, […]
Mining Mergers & Acquisitions
By Tshepo Magagane Mining M&A, does it solve anything? – the biggest problem is that it does not bring virgin ore to the market and worse, the ecosystem of juniors being turned into mid-tier single projects and then being acquired by the majors has totally broken down. In addition, capital from Merchant Banks is lacking […]
MSCI Metals v World (Mining Returns)
By Tshepo Magagane Banking is about creating that deal list! I never really got any reprieve when we joined from the M&M team (was sector agnostic largely) but it was honestly deal after deal! People who made proper money in mining positioned in the late 90s into the early 00s – that is when you […]
Higher Finance In Mining
By Tshepo Magagane Cap-floor-mechanisms – why did lenders stop requiring hedging as part of the CP for Project Finance? Hedging makes money for the provider, not the producer – see the hedge unwind costs that normally go through the P&L of miners… …well over 2 decades including the last super-cycle – have never seen it […]