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Heading for over 17p by lhe close by the looks of it
Gold pushing higher @ 1571
Looks as if we could have a strong finish here before the weekend,good press coverage over the weekend would help for next week,lets hope so
RetiredBanker,
' I have never made a comment about fund raising at 7p, so please don't do a Donald Trump and make up alternative facts to suit your own narrative'.
You seem to have a short memory. On 5 December you said:
'I'm starting to get worried that we will be getting an announcement from the BoD telling us that they have issued 500m-1bn new shares through several private listings ... god help us if they say the issue price was 7.5p to these "preferred investors"'
I'll leave it to the readers to decide your meaning.
Also you said
Either way I still believe convertible options at 10.7p will put a break on this rise - that's me being a realist not a pessimist
You should look at today's price. Any comments...
You are still trying to get people to sell and diversify into dodgy stocks. That's fine but I think POG is a good investment is my point and I disagree with your negativity on the stock...
Good luck anyway...
My mistake Rusty - I read this backwards, they have indeed reduced actual shares and increased financial instruments
Yep makes sense, they don’t need to buy these shorted shares back as they will receive ones at a much lower price when they convert ... so there will be no short squeeze, but also there will be no mass selling once they do convert so the price at that stage should hold up ok. It’s taken a really long time to try and get my head round this one and I still may not have it fully!
According to FCA Polygon have increased to 3.15% short. Really makes no sense to me as for one thing they're ploughing a lone furrow, I know RB mentioned a possible arbitrage play with the bonds that could possibly put them in a win-win situation. They don't have to notify until by 3-30pm on the day after the position was reached so for all I know we could thankfully hear that they've folded today in the FCA update tomorrow.
Keep it up Mr L. You're the main man on this forum now. Good wishes.
I don't think Norges have converted otherwise they would have shares. If anything its the other way round, as previously that had it all in shares, now it says financial instruments. So maybe they have sold their shares and managed to buy convertable bonds off someone.
My opinion only.
PVX233 - I have never made a comment about fund raising at 7p, so please don't do a Donald Trump and make up alternative facts to suit your own narrative. I'm very pleased for those, like Lawrence, who have held throughout ... I still believe he should bank some profits and/or diversify.
The projection for 2020 output is especially pleasing and my guess that we would revert to 10p before we hit 15p was clearly wrong, but I still haven't read anything that has convinced me IRC is not a millstone and the IRC share price hasn't shown any increase.
I also look at yesterday's RNS and wonder whether this implies that Norges Bank have converted their bonds (certainly that's how I read it) ... which might mean they feel now is the time to cash in the stock rather than continue to earn 9% p.a on the convertibles - just a thought, not outright negativity.
As for my own holding - yes I would be better off if I had kept excess exposure to POG, but my sales at 8-10p enabled me to buy AAZ / TSG & AAU at averages of 60p / 66p & 1.58 so I'm not that unhappy with their respective progress. My non gold miner purchases generally haven't faired so well but that's diversification ... I now have a more balanced portfolio.
And I will re-iterate that options on just shy of 1bn shares still exist at a price of 10.7p - unless of course Norges and others have already converted and our BoD have neglected to make this fact known to us.
It was his opinion, that's all. We are all trying to predict a future but in the end reality wins
Sorry I disagree. RB said just a few weeks ago that the management would fund raise at 7p a share. That was completely out of order. I don't mind differing points of view, but the negativity shrouded in knowledge has cost many new investors a lot.
The complete lack of operational commentary and the huge bias towards the downside was in some ways wrong.
But I accept we all have a different take on reality. And he gave an honest opinion.
Agree no need for some of those comments !
Hear hear
In danger of hitting Tamesis' new target price on the same day they issued the updated research note!! No doubt my optimism will send it into reverse.
I think it is a bit harsh to have a go at Retired Banker as he has at least tried to put a spin on it. Yes he sold quite a few of his shares lower than the prevailing price, but he said he was doing to to diversify. He said he thought there would be a ceiling on the price because of the convertables, which has been the case in the past, but, if the company continue to increase production and in turn increase profits to enable it to have enough money to either repay or reduce the debts it will be a different animal.
At the end of the day, it was, and is his opinion, and thats the way it should be taken. As for diversifying, for large holdings it is never a good thing to have all your eggs in one basket. But every one to their own.
Positive update, but no info on potential profits which at the end of the day is the main thing. Hopefully the brokers will have another look at this and large institutional will realise that it is undervalued. ( As long as they do not cook the books ) or find ridiculous deals.
would have thought so
20p easy in next few weeks imo
15.36
Yep...traders/ii's know where the returns are going to come from over next few years.
that's why you and everyone should take what anyone posts on here with a pinch of salt. most posts are and always will be a load of ******
Not much from the doomsayers. I thought this was a basket case and you should sell up as soon as possible and diversify.
All those posts on the convertibles and the threat of more fundraising...
All nonsense in the end.