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Another decent rise to end the week-what a refreshing change. At some point, gold had to stage a recovery and the falsely strong position of the dollar in recent months has not helped our cause. There is no doubt that the US financial position remains dire and at some point, the Fed will need to do more than kick the can down the road. We are also beginning to see the effects of weakening supply as the larger miners scale back their operations. This could cook up a perfect storm for Chaarat and how good would it be if the company timed the upturn in gold's momentum with news of a sale or jv. There can't be many operations that can plan for cheap mining costs for the first few years of the LOM- and to me,that may be Chaarat's defining factor. Either way, it's good to see some momentum back here. Good weekend all. Come on England....
nice little tick up following some rapid trades....
We've hit Nerin's formula of $1250 an oz. Maybe they were conservative with this figure as well? Volume picking up a bit on Chaarat, about £10k traded on ISDX too(all buys).
Let's hope Chaarat can maintain this upward momentum. When Chaarat acquired the licence in 2002 the price of gold was around $350. Chaarat gold listed at 60p per share in 2007 when gold was around $700. (Dilution has taken place since then) By 2009 our share price was just 9p this then lept to 70p when gold hit an all time high of $1921 in Sep 2011. If the PoG keeps its upwards momentum then our SP should recover lost ground - it's ironic as we have still not yet started mining!
Well perhaps that is the reason. Linda always plays her cards close to her chest and I was even surprised when I hinted it would be nice to see Director buying she replied they were in a Close Period. If this were completely routine like Results she probably would have replied but she hasn't. So, perhaps Dekel's fairly throwaway comment about Chinese sniffers raising funds might be the reason. hope so. See we've at least got back to 6p given the Pog has put about $80 X 4.7m or so on our value in the last few days - that's $376m or £260m !! ($80 rise in Pog X 4.7m oz)
Pablo, I assume the BoD are aware of the "interest" / "offer" for the Chaarat project - even thought the company making the offer are raising funds I guess this is enough to stop the BoD from being able to buy shares. IMO
Quite a bit of trading activity today and Pog activity - above $1230 an oz. Dekel has a much higher average than ours - never got any reply from Linda on why the Bod are now in a closed period.
nice to see more activity on here in terms of discussion, trades and SP movement (upwards) The potential here is HUGE - sadly I don't think this will remain an AIM listed company for that long - we cannot effectively develop this asset as we are just too smaller company, we don't have the skills / knowledge required to design, construct and run a mine - we have struggled to get to where we are today. That said IF Dekel can sell the Chaarat Project for a fraction of its value then anyone brave enough to invest today should make a tidy profit. I have invested in many AIM companies with "huge potential" / "world class assets" however despite the endless promises of "jam tomorrow" many of these companies have left investors with nothing due to lack of funding. I really hope Chaarat can deliver something.
Anything for you : "Kumtor’s proven and probable reserves now totalled an estimated 5.6-million ounces of contained gold (69.2-million tonnes grading 2.5 g/t gold)" In fact, see my 7:25 post yesterday : "Kumtor's proven and probable reserves now total an estimated 5.6 million ounces of contained gold (69.2 Mt at 2.5 g/t gold). Against our "Reserve base estimated at 53 Mt at an average grade of 2.79 g/t containing 4.7 million ounces of gold" So, our grade slightly better quality per ton. POG has certainly ripped up as everything else in the world has been ripped up - lol. Our DFS is based on $1250 an oz which is about the only thing Nerin didn't do conservatively. ------------------------------------ Seen some pretty crazy figures worked out by Aim statisticians and perhaps my comparison to Centerra giving an sp of £1.44 is one of them - just for fun really.
The anomaly is patently absurd in terms of valuation. Do you know what the grade is there? Ours is quite good. Gold price on the rise. If that continues it'll start to concentrate a few (Chinese) minds.
How about this for a direction we might be going : Centerra Gold : "Canadian miner Centerra Gold has increased its total reserve base by 9% to 8.4-million ounces of contained gold as at the end of December, up from 7.7-million ounces a year earlier." (mainly through an increase in Turkey). This company's Mkt.Cap is CAN$1.426Bn = £700m Our Mkt cap is £14m yet we have Reserves of 4.7m oz. Now 4.7/8.4 as a percentage is 55.95% So, everything being equal (which it isn't as they are producing in the Krygyz(but not in Turkey or Mongolia)) we should be at 55.95% of £700m or Mkt Cap of £392m, i.e.with a share price of £1.44 !! Well that's a nice direction to head in !
I've got 77,940 shares which I bought in December last year @ 8.9p. I'm happy to get just to break even as per no one really knows which direction the company is going!!
Average 11.13p, but not bad considering my first purchase was at 64p and don't think I've ever sold any.
Still a nice sized holding Pablo. My average is 9p so I'm well underwater as things stand. I'm not brave enough to buy more. Would be happy to get out with 20p given the risks here.
Just summed up me totals- I've got nothing like your holding. Only got 186,003 shares - my average lower than Dekel's but not as low as Dibs'.
So someone has bought in with 1.7M shares @ 5p per share. Do they know something? If fireworks happen now, it is pretty unfair on the long suffering shareholders who have kept this thing afloat for a decade and got in at a MUCH higher price. Its all about timing. Life is unfair. Still, won't complain if there is fireworks. Would just be a massive relief....
Hehe yes indeed. Nothing like a healthy dose of cynicism. Keep us all grounded. Our fate though ultimately lies in the hands of the Chinese no? Isn't that where most off our eggs have been placed though clearly Fas with 25% are going to have a say.
I wish ! Must work out my holding, think it's way under yours - report back later.
sorry I mean trades from today . 1.7m shares its Pablo having a top up.
trades from yesterday --- 10-Feb-1612:51:385.375850,000 4.756.0045.69kO 10-Feb-1612:51:465.375850,000 4.756.0045.69kO
The revaluation of gold to $50,000 oz will no doubt happen just after we have been bought out for some paltry sum because we were unable to secure a deal with anyone before we ran out of cash... Thrilling day on the markets for CGH today. The one elephant in the room at the moment is the Fasanara crowd. What their plans are is where our fate lies IMO.
Imagine the SP here when Gold is revalued at $50,000 oz http://www.zerohedge.com/news/2016-02-02/coming-revaluation-gold
Good morning. Yep and if they can prove up the inferred resource they'll overtake Kumtor I believe? Listening to Dekel he seems convinced they've got a lot more gold in them 'thar hills. ;)
Kumtor's proven and probable reserves now total an estimated 5.6 million ounces of contained gold (69.2 Mt at 2.5 g/t gold). Against our "Reserve base estimated at 53 Mt at an average grade of 2.79 g/t containing 4.7 million ounces of gold" So our 4.7m oz against Kumtor's 5.6m oz - getting there, one day we'll be the biggest Gold Producer in the Krygyz providing 5% - 10% of the GDP
Just so people know my query in the last RNS it was stated : "Reserve base estimated at 53 Mt at an average grade of 2.79 g/t containing 4.7 million ounces of gold" AND "The Chaarat deposit is a JORC compliant resource of 6.1 million ounces of gold at a grade of 3.20g/t." Probably most knew the difference, but that was what I wanted Linda to clarify. Reserves/Resource is the fraction 4.7/6.1 million oz for Chaarat. Dibs - must work out how many I've got soon - impressed with Oli's 500k, and still haven't fully read up on his Martin Andersson research.