bumping along accumulation zone, going to hazard a stab in the dark and say our next holistic short term target is 4.5p with CPR or roughly £100M MCAP? Is that unreasonable??
is that the CPR will come out at just over 6M oz... they neglected to RNS these 7 new DD results because they were over optimistic, and quietly did some more targeted drilling when Venmyn told them the estimates were out. Question is will investors bite in Q4 when the CPR does come out? Or will there be a run-up and then dumped on news day?
the JORC compliant CPR will be recognized as intangible assets in H1 2015 interim statement? Currently trading at a $30M premium to NAV until that happens. Management are demonstrating exemplary prudence with current cash flow and cost containment, wondering how they will fair when those cash flows increase substantially with the U/G mine. Either the CPR is going to come out at more than the 6M oz internal management estimates or they were over-optimistic in their estimation and have included these 7 new DD holes to top up their estimates. The shaft isn't planned to those drill depths yet? They would have to dig a deeper shaft to get to the same oz - increasing their cash costs per oz overall?? In any event, a considerably productive first half by any measure. Now if I can just find the patience to leave this in the bottom drawer for the next 3/4 years, we'll all be many multiples ahead.
23 Sep '14
hope all is OK
Is the CPR dissapointing and they letting the big II's unload first? My idle mind is starting to wander... SP dropping due to T20 close outs? One thing for sure, we're only a passing nod to their daily grind.
3 Sep '14
Tracking the gold price down
I guess gold is tanking because of talk of possible interest rate rises. I'm not sure that people have thought through what that would mean for public finances, and not just in the UK. With the colossal mountain of public sector debt that's been racked up both before, and especially since the financial meltdown, any increase in interest rates would massively increase the cost of servicing that debt will cripple governments globally. Quantitative tightening anyone? What would that do to the price of gold?
2 Jul '14
JORC statement of reserves
Have they published an updated JORC statement of reserves? The last one I remember seeing was a couple of years ago in the annual report?
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