Hows the transactions are they coming through?
Kanacki
Yeah good but but just sick changing accounts.
Crow
Well its still not a bad thing to complain about. The price of gold is still high and other commodities are high. People are buying gold quicker than digging it up. Talk about hitting a sweet spot when prices are high.
Kanacki
Hows the charter business going kanacki?
Crow
Crow it was hard to let crews go in Indonesia and Thailand. But these vessels are you know lose money every day they are not at work. Foreign tourism collapsed from covid 19. And we could not sustain keeping people employed month after month of no work. While many people was devastated losing there jobs. They took a pay cut that extended their employment but the impact of covid 19 was not going away soon. So I make a hard decision that we could not keep hemorrhaging money.
I think 12 months to 2 years maybe longer until the world economy rebounds enough for western tourists to return sufficient numbers to sustain the business. So both vessels are back on my island. On my island there as you know there is no tourism. But no impact of covid 19. Although I had to go into quarantine for 2 weeks.
But I have created some work locals in the boat yard in overhauling the vessels. However I am budgeting at least 5 years worst case scenario.
However we can thank Hardluck for hounding us diversify our investments. Even so after taken a hard hit other investments have sustained us still quite well.
But seeing the social impacts of covid going on around the world I am thankful where I am everyday.
How is that bar of yours?
Kanacki
I and Hardluck gave the lessee a "sweetheart deal" with the rent and now he is behind. But the government has put restrictions on us on what we can do. So even behind we are working in agreement to try to get the debt down. While borders have been closed they struggle to stay open. There are virtually no tourists on the island at present and many other business are suffering. If Australia opens it states borders the tourists with in the country unable to travel overseas travel interstate and create a slowly recovery. While its a pain in the ass we can run at loss until a recovery.
Once again a diverse investment portfolio has shielded us from the worst so far. In fact most of other investments are booming Still its painful to see people crash and burn amigos. So I am banking on increase of domestic tourism providing our state premier get off their high horse and open the borders.
Crow
I think many politicians mishandled many aspects of the pandemic in many countries. However how do control the globalized movement of people? The world was more globalized than 1919. And economies much more diverse and complex.
Hardluck updated me with Aurania's lost cities Project. Covid 19 slowed exploration the lease from fear of spreading covid to indigenous people. Since it is project working jointly with locals and the government the covis safe measures have to be put in place. However the share market was unkind to Aurania they lost 20% of their value. I think there will be down turn of many share values. As of April we had lost on paper lost 2.5% over all on share portfolio. Since the last 4 months it has boomed amigo. Over all with bargains we picked up when shares in march fell because of the panic by covid 19. has boomed.
Well done with After pay amigo.
Kanacki
Another project that might show a lot of promise in regards to Lithium. In Sonora Mexico
Bacanora owns ten mining concession areas covering approximately 100,000 hectares in the northeast of Sonora State in Mexico. Seven of these ten mining concessions (the 'Sonora Lithium Project') were included in the Sonora Feasibility Study published in January 2018.
The Sonora Lithium Project has a Measured plus Indicated Mineral Resource estimate of over 5 Mt (comprising 1.9Mt of Measured Resources and 3.1Mt of Indicated Resources) of LCE and an additional Inferred Mineral Resource of 3.7 Mt of LCE.
The Sonora Feasibility Study has established Proven Mineral Reserves (in accordance with NI 43-101) of 1.67 Mt and Probable Mineral Reserves of 2.85 Mt LCE and confirmed the economics associated with becoming a 35,000 tpa lithium carbonate and 30,000 tpa SOP producer in Mexico.
If it goes ahead and I think it will because United states tech industry need to get Lithium from another source other than the Chinese communist party who has the strangle hold on the strategist rare earth metal. Shares will go from a penny stock into high yielding share. California tech industry needs alternative access for growth. Now much more important was we are going into a new cold war.
So Shares in The Sonora Lithium Project will be one to watch.
Crow
Hello Kanaki
As you are acquainted with the high seas you may know something about the so called 'whale vomit' or ambergris. I just came to realize recently that it is quite a valuable thing being used in perfume industry..
https://www.sciencealert.com/fisherman-have-just-found-a-us-3-million-lump-of-whale-vomit
is that something that washes up anywhere (i.e remaining intact while being washed away) or one has to lookout strictly within the vicinity of whale waters ?
It is quite a bizarre thing ...Any further insights?
TT