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Trading well below the sum of parts valuation here and back in bargain territory.
Good time imo to be building positions in under valued Gold companies with both near and mid term catalysts ahead.
Oriole Resources the W.African (Cameroon) gold miner has announced the successful placing of 416,470 shares at 0.425.
The shares were oversubscribed and now amount to 1•994bn in issue.
Of course the sp decline pleases nobody, even those in at 4/5 so its relative to when you bght and your current avc. Pleases some but I'd guess most like me bght higher up and showing losses are a bit grumpy.
I'm c.1•5 down, in cash terms approaching £1500 not disastrous on a 2 year look, as I view the current Co value to be significantly mis/under priced. What does worry me is should there be a stock mrkt crash of the order 30%-50%, Banks will pull funding to companies in a flash and PAT will get embroiled in the sell off panic and confusion and if you haven't experienced one the good go down with the bad.
Being debt free and in a safer sector might not save us. I'm not panicking yet but as they say " if your gonna panic, panic early!"
Stocks in Hk have slumped nearly 1000 points (4%) weighed down by the plunge in Evergrande stock a Chinese property developer. They have warned of defaulting on c.$300bn of loans as banks have pulled lending to the Co. Other property companies are lower the HK property sector index off 7% to a 52wk low. Markets in Tokyo, Shanghai, S.K & Taiwan are closed for local holidays.
Australia has got off to a weak start the ASX 200 down 157 its lowest in 9 months. News from China of a reduction in the use of steel due to climate change concerns impacted resource stocks traded in Sydney. Prices of iron ore & nickel fell, Gold at a 4 week low. Sellers scrambled to get out of the mrkt at a 9 month low.
Latest:- Oil $74•85. Vix 20•81.
Gold $1747. Copper $4•169.
Palm $1230. Silver $22•100.
$1•371. €1•170. Yen 109•905.
Yuan 6•465. FF -31. DF -335.
Good stuff has and nice to see you posting . Can’t disagree with anything you touch on . I would ad that the labola RNS was very interesting with the new ground coming up trumps and the anticipation for the main labola assays building . The Allenby broker not suggesting 1.5m oz and we are in buisness at labola was particularly encouraging as I see that as a formality after the extended ground showed mineralisation after so few holes, I don’t think the market clocked that properly . So we should have the main labola results before end of this month along with the remaining Bassala assays , got a hunch that MB is saving the best from Bassala to last .
It seems the market lures investors on share rises towards 15p-16p then pulls back to around 12p-13p again ,repeatedly of late..
The facts are the free float is low amount 47% of the 91m total so it’s quite tight.
The majority of shareholdings are held by insiders and ii..and the NE chairman holdings are 8.75%.
The BoD seems good here too and their interest aligned firmly with the successful endgame and shareholders interest. No financial distress or planned raise in the near horizon either.
The trading spread is somehow inhibitive at present to the new investors or at least the day traders and very short term investors alike which dampen the daily trading volume.
Latest RNSs are very positive and I can see it as a buying opportunity at the current level or at least to accumulate but only with limit order or when the spread is much narrower…
IMO the sp will spike as there is nothing to stop it doing so with any further positive news..
Recent Gold price in general is depressed too and most if not all gold miners are down in value.
PAT is as safe as it can be now with this low and undervalued sp…I will be adding more next week if it stays at the current sp..and recent high grade with big amount of gold appears on analysis /t.
As always dyor
Was listening to a Rick Rule interview yesterday and the big take away was he loved buying unloved shares when he could see the story ahead .
Welcome to Panthera Resources ladies and Gentlemen .
Well you certainly can't blame the sp slide on lack of news. We have had 7 very positive RNS reports since wk 28. An absence of buyers this week took its toll whereas last week it was the reverse.
Whatever your point of view the stock has refused to move outside the 13-15 range since wk 27/8. The mrkt is being extremely perverse and we're not the only ones by a long shot. You have to wonder, what moves sp's these days?
Evidently it's not good news.
Below the nos for this week and the 10 weeks from July 12th. Its remarkable that the nos are so consistent as to vols, deals, sizes & %s week by week. I'm not sure any of this is especially useful but goes to help one's understanding of the current investor involvement in PAT.
Avg deal c.12,945
Avg cost c.£968
Avg deal 13,300
Ftse -64 (6964)
Aim -22 (1272)
DJ -166 (34,585)
NS -182 (15,333)
R2 +2 (1331)
TK +176 (30,500)
HK +217 (24,885)
SH +6 (3613)
ASX -56 (7404)
MSCI(W) -26 (3097)
Oil $75•49. Vix 20•81.
Gold $1754. Copper $4•240.
Palm $1230. Silver $22•360.
$1•374. €1•171. Yen 109•927.
The Dow got off to a rocky start falling 260 at the bell as new jobless claims came in at (332,000) higher than expected. However retail sales surprised rising c.1% in August and 15% ahead of a year ago mainly due to a surge in on line sales of furniture and other household accessories. Consumer spending will cont to lead the economic recovery as long as the Govt get a grip on the infection rate and the un-vaccinated who are facing strong penalties for not getting a first jab.
On line purchases are off setting a near 4% decline in Auto sales due to an acute inventory shortage at dealerships and to a lack of microchips which power cars these days. Ford was u/c at $13•36 and GM ticked up 50c to $51•40 but Toyota eased 33c to $181•33.
The Nsdq fell 133 early on but has recovered slightly to trade 57 lower at 1•30pm EDT. Msoft continued its good run to $305, Fbk off $3 but Tesla rose $11 to $756 in early deals. Google and Amazon weighed on the 100 which has declined in 6/7 past sessions. Casino chip stocks saw falls across the sector, Wynn Resorts off 2% to $81 on the Chinese Govts clampdown on gambling hubs.
Gold slumped $40 finding support at $1750, a break down through this level and it could get ugly for Gold bulls. Strong resistance is seen at $1800. Better than expected Retail sales & a strong USD kick started the sell off. Tapering and higher rates just got a whole lot closer.
Oil prices steadied after a year high yesterday as Gulf oil production returned to normal when Hurricane Nicholas moved away. Pipe line service and electricity to Southern States was restored. Dealers on NYMEX noted a surge in European power prices due to lower gas inventories and reduced supply from Russia which is supporting crude prices atm.
DJ -63 (34,751)
SP -7 (4474)
NS +12 (15,516)
R2 -4 (1329)
MSCI(W) -5 (3123)
Latest:- Oil $75•47. Vix 18•69.
Gold $1758. Copper $4•306.
Palm $1220. Silver $4•306.
$1•379. €1•172. Yen 109•847.
Yuan 6•456. FF +30. DF +2.
I'm not sure PAT have the wherewithal to go it alone as the costs associated for setting up a mine are huge and before you add in anywhere from $500-$1200 as all - in running costs for mining a single ounce of Gold. No doubt they have a plan.
However the real costs of mining remain uncertain due to the way Gold Miners report their nos. Previously it was under GAAP but now the World Gold Council has developed a new "All - In sustaining" costs measure to more accurately relay the true expenses of production which does not leave out as many associated costs.
Add in the practical, the upkeep of machinery, roads, regulatory, taxation and security costs investors should appreciate how difficult and expensive it is to find, mine and bring Gold to market. According to Thompson Reuters GFMS Gold Mine economics service average all-in costs for S.Africa was $1400, approx $850 in the US, $1100 in China, $1200 in Australia and the cheapest Peru at $700. Where WA stands on the list of Gold producing countries was not mentioned but probably more Peruvian costs than Australian.
Just thought I would say Hi after you stopped by our old haunt. Good to see your still above ground, on the beer and chasing the winners….
This seems a decent company with plenty of potential so Ill have a sniff around.
The data moydow got for nothing worth 12m$ and 5 years of work revealed labola was bigger than first thought raising the MRE , the RNS on labola has confirmed labola to be huge.
market fast asleep ITTD here .
Whats the value to us of 1.5 mill @20% (free carry)? I make it approx £390million ... over the life of the mine, whats that likely to be anyone? 20 years, 40 years ? Plus assume that once they start mining they will find more
Cora Gold announce a H/Y loss of £518,000. Points of interest the NAV is £15•81m or 6•43pps so with the stock trading at c.15 bid that's a premium over NAV of 133%.
This indicates that investors are prepared to pay more now in the hope of bigger gains in the future. Brookstone is the largest holder with 29•99% (71•3m) shares.
The Dow slipped 55 at the bell but was soon on the recovery path gaining 260 at lunch, more than recouping yesterday's losses. The mrkt saw 8/11 sectors in the black and all major indices closed higher. Standout was Microsoft gaining $5 ($305) on news of a $60bn share buyback and a 11% increase in the dividend.
The so called 'quadruple witching hour" will occur on Friday when stock index futures and options all expire. This occurs 4 times during the year and often leads to increased volatility.
Gold slipped below $1800 on technical selling after failing to consolidate above $1805. Oil cont it's recent strong run as Brent hit $76•22 after news of a stronger than expected drawdown on US inventories. As vaccination roll outs increase across the world its expected to power up demand for the black stuff. In the USA alone 18m bopd (a barrel of oil contains 42 gls & produces c.45 gls of refined products) is consumed everyday to power road transport, air travel and is a vital ingredient of many things we use on a daily basis. Not that long ago crude had a negative $36 boe price, now trades 46% up ytd.
DJ +237 (34,814)
SP +38 (4481)
NS +121 (15,504)
R2 +14 (1333)
MSCI(W) +12 (3127)
Latest:- Oil $75•63. Vix 18•18.
Gold $1793. Copper $4•769.
Palm $1220. Silver $23•890.
$1•383. €1•171. Yen 109•583.
Yuan 6•441. FF +7. DF -27.
Morning Metals....you've woken up and smelt the coffee! Bargain prices on offer atm.
A little top up this morning as it's payday. Working towards my 120,000 shares by Christmas. Feeling much better too, taste and smell has come back. Morning all.
DJ -292 (34,578)
SP -26 (4443)
NS -52 (15,383)
R2 -18 (1319)
MSCI(W) -10 (3116)
August CPI nos showed a rise of 0•3% in inflation and y-o-y to 5•3% well above the Fed's target of 2%. Stocks were lower from the bell with shares linked to the economic recovery hit (Bank of America and GE). Apple ($148) closed 1% lower after unveiling its new i phone 13 which failed to excite. Jim Cramer the 'mad money' TV host said investors should hold Gold & cash during the cruel month of September.
On the political front the Democrats have proposed a new tax hike of c.$3•5bn on corporations and the rich to fund a social safety net and climate policy bill.
Latest:- Oil $74•08. Vix 19•46.
Gold $1804. Copper $4•324.
Palm $1200. Silver 23•810.
$1•380. €1•169. Yen 109•583.
Yuan 6•441. FF +6 DF +70.
Another good RNS, this should give any LTH good hope for the future and help settle any nerves for those still in doubt.
Seat back and watch this reward us all in future.
I am happy to see news coming in and to sit and wait if im honest. Progress is being made and people will wake up. In the mean time ill continue to strengthen my position.
More positive results today. I think the trades will come after the MRE is out and we've got the DFR deal under wraps. Gonna take a little while but it's worth waiting for.
Exactly HB , that’s why the shares are so cheap . There will be plenty of opportunity to pay a lot more soon . GL
No one is buying you donut .... No volume 20 trades ... Interest in this one is rubbish at the moment .