Author Topic: ALS.TO - Altius Minerals  (Read 1909691 times)

biaggio

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Re: ALS.TO - Altius Minerals
« Reply #40 on: February 04, 2011, 02:39:44 PM »
sdev, I have not bought any, but it looks like it looks like a good bargain still.

What do others think?


Myth465

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Re: ALS.TO - Altius Minerals
« Reply #41 on: February 04, 2011, 03:24:35 PM »
I bought a 1.5% position today and will likely scale it up as my cash is moved around, will probably hold at 5% while I "learn about mining and Management". It seems like a good owner manager company. The only risk from my view is Alderon being overvalued and all other options turning out to be worthless.

Similar to LUK, if I can get back to the enterprise value based on a very conservative valuation of the assets and still have a number of free kickers I am happy. Based on market value for a valuation of Alderon and Rambler, + taking the Cranberry Capital investment at book, + the cash, + a conservative valuation for the Bay royalty gets us at or over the EV.

After that everything else is free, and I am happy seeing what they come up with given the returns they have been able to generate on their cash thus far. Plus I believe we are getting a decent chance to buy before the run up in Alderon gets reflected in the SP. Worse cause Alderon collapses and we are right back where we started.

alertmeipp

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Re: ALS.TO - Altius Minerals
« Reply #42 on: February 04, 2011, 05:00:17 PM »
Congrats - check out QUX.TO too. I think they are pretty cheap COPPER play.

Myth465

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Re: ALS.TO - Altius Minerals
« Reply #43 on: February 04, 2011, 05:13:58 PM »
Congrats - check out QUX.TO too. I think they are pretty cheap COPPER play.

You guys make it terribly hard to hold cash, I know we are due for a pullback but my cash loads are dwindling.

Zorrofan

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Re: ALS.TO - Altius Minerals
« Reply #44 on: February 05, 2011, 08:58:08 PM »
Dazel,

Did you say Sprott owns some? I haven't been able to confirm that it in any Altius filing....

cheers
Zorro

Dazel

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Re: ALS.TO - Altius Minerals
« Reply #45 on: February 06, 2011, 12:50:34 PM »

They were in joint venture with Sprott Resource corp.

Sprott Inc bought out Rick Rule and his related companies with Sprott shares...that deal will be finalized in February....Rick Rule and his firms have been longtime holders of Altius...so they will own some! I have not seen a direct investment though...I would not be surprised if they are the elephant in the room lately. They obviously know Altius.

disclosure...we now control about 1.5% of the shares outstanding.

Dazel.

Mark Jr.

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Re: ALS.TO - Altius Minerals
« Reply #46 on: February 07, 2011, 08:12:29 PM »
Dazel,

Did you say Sprott owns some? I haven't been able to confirm that it in any Altius filing....

cheers
Zorro

I was just looking at Sprott's latest 13-F and they aren't listed as a holding

http://www.sec.gov/Archives/edgar/data/1277006/000127700611000024/dec1013fa.txt

Dazel

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Re: ALS.TO - Altius Minerals
« Reply #47 on: February 08, 2011, 10:21:41 AM »

Rick Rule has made a killing on his Sprott deal! Most have not heard of him. He is the reason i got interested in Altius!

http://www.theglobeandmail.com/globe-investor/investment-ideas/streetwise/sprotts-takeover-partners-gain-from-share-rally/article1897395/

Dazel.

Partner24

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Re: ALS.TO - Altius Minerals
« Reply #48 on: February 11, 2011, 01:26:17 PM »
Can someone come up with a some of the parts calculation?

It's a nearly 400$ millions market cap company.

- (145 millions and treasury December 31th)
- (125 millions Alderon stake actual value) + related future income tax
- (28$ millions in Royal Gold)

Still more than 100 millions in assets to find in order to say that everything else is "free".


Myth465

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Re: ALS.TO - Altius Minerals
« Reply #49 on: February 11, 2011, 01:44:18 PM »
You are missing the bay royalty interest is probably worth at least $100 million now that the strike is over.