Monday, October 26, 2026

@TimyanBankAlert 20h ago

Timyan Bank Alert on X

So $LNKB was correct in their assessment of $MNSB credit and Jeff was wrong, so no double dip to $BHRB. Also the Chicago banc stock investment fund who cast the deciding vote against the sale proposal harmed his investors. Perhaps Jeff can stop lying about the close vote. https://t.co/Wxj6cKeMcp

@StableBread 20h ago 4 clicks

Fajasy on X

At CAD$1.98/share (October 23 close), you’re paying US$214-265M for Levack, the flagship restart project of Magna Mining $MGMNF (TSX: $NICU), or 62-76% of the enterprise value. On the 336.57M diluted count, Magna’s market cap is US$476M, and here’s how it breaks down: → Cash, incl. option proceeds: US$130M (CAD$0.54/share) → McCreedy West, the producing mine: US$28-43M (CAD$0.11-0.18/share) → Crean Hill, the permitted nickel mine: US$54-90M (CAD$0.22-0.37/share) → Levack, R2 (a high-grade zone at Levack), and the rest (implied): US$214-265M (CAD$0.89-1.10/share) For McCreedy West, I valued 3-5 years of margin, discounted at 8%. For Crean Hill, I applied 0.3-0.5x the US$179M after-tax NPV in its October 20 pre-feasibility study. To estimate how much Levack has to produce each year to justify the CAD$1.98 share price, I assumed: → Margin: US$1.85/payable lb before taxes. I started with McCreedy West’s Q2 cash margin of US$1.41/lb, subtracted US$0.42/lb of H1 sustaining capital, and added back the US$0.86/lb the precious metals stream took in Q2. CEO Jason Jessup said most of the tons in Levack’s October 7 preliminary economic assessment (PEA) would come from the contact zones, which I assume sit outside the stream, since the PEA release doesn’t say how much ore the stream covers. → Timing: 7.3 years of output starting in mid-2028, per the PEA. → Taxes: 27% of the value, the share Levack’s PEA loses to taxes. → Discount rate: 8%. On these assumptions, US$214-265M requires 32-40M payable lbs/year from Levack before restart capital (the upfront spending to rebuild and reopen the mine). The PEA’s CAD$70.1M of initial capital adds ~7.5M lbs/year to the requirement, but pre-commercial cash flow and tax credits cut the net funding need to CAD$8.6M, or ~1M lbs/year. Jessup had said Levack could produce 2-3x McCreedy West’s output. The PEA plans 36.8M payable lbs/year from mid-2028 to 2035, ~2.2x McCreedy West’s 17M lbs guidance midpoint. So at Q2 margins, CAD$1.98 assumes close to the PEA’s output, which leaves out R2. But 2.1M of the PEA’s 5.75M short tons are inferred resources (from more widely spaced holes), so over a third of the plan rests on less certain tonnes. However, a 10% higher realized price adds US$0.60/lb to the margin and cuts the requirement to 24-30M lbs/year, well below the PEA’s 36.8M. Since Q2, copper is up 8.3% from Magna’s average ($6.54/lb vs. $6.04), while nickel is down 13.5% ($7.12 vs. $8.23). Nickel is 46.0% of the PEA’s revenue and copper 34.8%, so for Levack, nickel’s drop outweighs copper’s gain. In other words, higher copper prices alone won’t lower what Levack has to deliver. Nickel has to recover too.

@stockgutter 21h ago 2 clicks

SG on X

@ConnorJBates_ not all are expensive. examples: $CPB $ENR

@DeepSailCapital 21h ago 2 clicks

Deep Sail Capital on X

$DLO was also hit hard (which shouldn’t really have been because of the diversified model) and I started a position today.

@majgeoinvesting 21h ago 1 click

Maj Soueidan on X

Extremely excited to be talking to the CEOs of $CDTI and $COV.V ( $CVALF) tomorrow. Wednesday, I look forward to a full day of 1x1s at the Toronto @PlanetMicroCap . https://t.co/j6YJJuJ9h2

@KEDM_COM 22h ago 1 click

KEDM.com on X

Engine Capital is pushing EPAM $EPAM to either sell itself or to start buying shares. The software engineering company has sold off in line with AI losers, even though earnings have been more resilient than peers. However, $DAVA and $GLOB have shown how quickly earnings can disappear if revenues fall and headcount remains too high.

@stockgutter 22h ago 2 clicks

SG on X

Bought $INTR $4.53, stinkbid to add at $4.25. New position for me. https://t.co/0Sqwjp4kfS

@TheBenSchmark 22h ago 1 click

JabroniCoin.USD on X

Yes. $ACMR has been expanding globally outside China, particularly South Korea. And perhaps Taiwan soon enough. https://t.co/lRFcfxXROd https://t.co/AT1Ba6S2EJ