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Try reading the RNS, it states in there how much was produced in Q1 - hence the SP performance.
They said its a pour pretty much every week so ASSUMING the bars are the same its 700oz.
Whether that is still the case we won't likely know till the CPR is relaese (as a foot note) or the Q2 figures are ratified.
I like to see the number of gold ounces poured. These two firms simply have no figures on this aspect.
POG and CEY can publish actual figures which makes them more creditable.
They are not running the firms as a tax loss which I suspect is happening here.
CHEATED, Great Bear resources management is doing great, see those Royalty shares fly.
Great presentation. It’s why I bought in in the first place. Then I look at what has been delivered and it’s like a different company!
The overbreaking due to blasting techniques was a schoolboy error! The ops update have addressed my concerns and the mill has been commissioned now, realistically we expected teething problems just not the BoD obfuscation!
The heading of this post is very apt.
It they have indeed sorted the ops issues out and we really have no reason to doubt that and they have delivered phase 1 production that’s a FCF of $1.0bn/yr pre tax!
I take it Phase 1 starts from this April and now runs for two years producing at 800tpd with weekly pours and tpd increasing in H221 and phase 2 starting in 2023 with phase 2 development kicking in in H221 with installation and commissioning of new mill initiatives. My interpretation of slide 8/9.
Even with nearly an extra 50m shares fully diluted we should be throwing off cash pretty soon during phase 1 and soon be able to pay a divi. I wish
I can’t think to phase 3 atm other than this really should be a cash cow from here.
So to buy or not. Well IF the presentation is to be delivered then it’s a yes even against the falling SP. Of course it depends how long you can hold for but one good set of numbers and this could rise significantly back up!
Technically (TA) it could dip below all supports to 50p before recovering but I still see it coming back to the 135 range fairly quickly and don’t think it will go much lower.
I have decided to average down in two lots one soon then I will wait. The thing that bothers me here is it’s usually ok to buy but difficult to sell. I hate sending trades to the broker even with a limit order!
Usual caveats
Trek
Does anybody know the number of ounces of gold that have been poured since December?
The management here is rubbish. They should sack the lot and get some talent in that knows how to pour gold. Test drills are fine but you can waste a lot of cash resources on just digging holes in the ground. That, at this stage, is an imbecilIc approach. The gold price is still high but we ought to be getting some returns on our money. Why wait until it drops to $500 an ounce?
I look at the stupid way Great Bear Resources is being managed and I fear then same idiotic approach is being followed here.
These guys are just a bunch of fools.
Bit, I hope you're wrong for he sake of my pension!
1.70 DECEMBER 14TH
.40 1 YEAR AGO
Alton towers rings a Bell.
Mega grades ... but management ?????
Looks on the face of it stinking cheap ... but will it bounce back or simmer?
Now this is not a de ramp but a gut feeling
I am sticking my neck out and saying the optimal buy in is half way between where we are now and a year ago...
We have grades but debt dilution.... so for me 60p is the magic number.
I am tempted now but feel a few holders are a little dizzy from the ride.... feeling a bit shell shocked...
Don' t want it to happen again sort of feeling .... More the cup and saucer ride... :)
I' m in for 100k shares 60 to 65p
But hope to be proved wrong for the sake of my current holding...