Conference Call summary...just some points from my notes:
the synergy w/PCNC's property that lies adjacent to Wellgreen will help boost overall tonnage (which shoud help make it more economically viable)...
Plat prices have increased substantially since PCY took over Wellgreen, increasing the viability of the mine from prior owners...
Lee is currently courting institutional investors in Japan to invest in PCY....
currently very focused on raising institutional awareness of PCY (and investment hopefully)....
PCY saw a need to create value in PGM assets in canada by spinning off assets to PCNC, but main reason for spinoff seems to be due to institutional interest in the coal portion of PCY's assets....by spinning of PGM assets, they have made PCY Coal's "investability" greater w/institutional investors...
currently verifying Wellgreen's "rare earth" grades from previous drill cores, which should be released soon...
currently debt free, w/$34 mil cash
are in contract to buy $15 mil in equipment for Ulaan Ovoo, w/$10 million more later on...
buying this equipment will allow PCY to be less dependent on Leighton for equipment and lower costs....
initial $15 equipment will allow PCY to ship 50k tons themselves, with additional $10 million purchase to alllow for another 50k tons (thereby cutting out need for Leighton's equipment altogether based on current coal shipments)...
should have a new contract (w/revised costs less the Leighton equipment) in a couple of weeks or so...
Ulaan Ovoo currently getting $115/ton for coal...
PCY is currently in discussion w/JUST Group to raise the amount per ton based on price increases...
currently "significant" demand for Ulaan coal...
PCY refocusing on shifting coal shipment from Russian powerplants to getting coal (through JUST Group) shipped to Vladivostok port, where they can then ship to Japan, Korea, China...
this is estimated to cost $70 ton total cost...so for each $ above that in current coal prices is added to bottom line...
this is due to better profit margin in those countries as opposed to Russia...
Chandgana DEIA was the first one issued in Mongolia in 20 years...
they have had a feasability study done, but it's being translated to English, after which will be released...
after release, they will work on bankable feasability study (takes about 90 days)....
after that, they will aplly for permits for Chandgana power plant...
this should take 60-90 days to hear from Mongolian govt...
Mongolian govt has shown preliminary support for Chandgana power plant...
PCY shares (based on share price/ton) are undervalued to SouthGobi on a 10-1 basis (and I believe this is just Ulaan Ovoo valuation)...
PCY has recieved significant participation from Mongolian investors (this is verrrryyy good...)....
Mongolian govt has been working to speed process of permitting, etc for PCY....this is great, as PCY sees mining permits are getting harder to come by, which means less sompetition locally...
NIK shares ex dividend date is 90 days from now....
PCY is being very conservative on projections of Ulaan coal shipments (estimating 80-100,000/month)...
that's all I had...