If you have ever seen the results presentations then you would not be surprised that he isnt the greatest speaker. Lets just hope he is better at mining gold. Or, we could always hire observingmen as he seems to think he knows it all.
RE: Amanda Van Dyke
Thanks for the update. As for: "(how much lower can it go!?)" on end of month bad news I would say sub 3p is possible )but not probable) at the extremes given enough time based on the experiences of not so many months ago. If that news turns out to be good as in they are cash generative then perhaps 7p on the day. Maybe 8p given time. Yeah, a big gap between those two I realise and perhaps too big to be realistic. This has been one hell of a ride in the not so distant past though. As an aside the big (ish) daddy of the mineral sands market, namely, Iluka Resources reported last week. They are farther up the food chain as a company as is their product mix compared to IRC and its ilmenite. ASX: ILU Iluka share price has given some back since the update. Their positive guidance had been ahead of the share price until the beginning of this year. Since the update it has given some back. I doubt their update will interest even those who have a lot of these but here it is for anyone who is curious. http://www.iluka.com/docs/default-source/quarterly-production-reports/march-2015-quarterly-production-report-(16-apr-2015) Could iron ore market and the non-heavy metals end of the mineral sands market be so low that a bottoming out is likely to be close? There was some discussion around Iluka's update on LSE's Kenmare (KMR) a couple of trading days ago.
Amanda Van Dyke
Mining "expert" (putting this in quotations as I'm not sure how well she's regarded), but she tipped POG has her pick of 2015. Peter spoke as well, I thought he was quite poor. I caught some of his talk with Tom on the main stage too - most of it was trying to defend the convertible bonds issue back in 2010. For a CEO it was astounding how he didnt research the risks before commiting. And how he lost more money than anyone else due to this mistake. Tom also pushed him on his £550k salary and asked him if he was worth 40 -50 nurses. His response was he pays for 20 odd nurses with his taxes... Despite seeing all that I am open to taking a long term punt on this share (how much lower can it go!?) Sure there's people much more knowledgeable than me to share what they learnt.
What strikes me is that as soon as Rosszolto failed to complete Polymetel jumped in to buy .. and this is one of POG's lesser valued assets !
I meant: Back again, was busy for a while dealing with life in the real world.
Back again, dealing with life in the real world. In a nutshell: positive in the sense that some of the more ineffecient assets which produces gold at an expensive rate is being sold, so that the production costs will sink going forward, and that cash will be coming in - if the sale goes ahead. Less positive, in that there will be a solid write-down. The NAV per share will go down, however the cash position would (unless I am mistaken) not be affected. As cash is (again in my view) the main concern in the short-term given the liabilities that have to be met, I think this is all in all a positive in the long-term.
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