We would love to hear your thoughts about our site and services, please take our survey here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Wow the Asacha update today came quicker than most of us were hoping! Okay in it, they mention grade mined in the first two months as being 5.1g/t so are costs / profits going to be much lower?
And how will production of 5,122 oz measure up with previous quarters? Are we still on track to reach guidance?
I can't see any history of this and as the Company have been given the go ahead to open I don't expect you need to fear. They would have been in constant discussion with the RTN during their visits and have probably already been informed of what actions they need to take. Quote from todays RNS "Ahead of the RTN investigation recommendations a preventive action plan is being devised and implemented to mitigate future risk of this occurrence, including modification of ground support protocols, new ground support applications, site inspection, staff training and development supported by geotechnical software and additional underground equipment." they further mentioned "Once the investigations are completed and the recommendations known, the Company will publish production and dividend guidance for FY2021. This is expected to be on or around the end of March 2021."
The Soviet (sorry Russian) regulators have still to pronounce and they will pay not one jot of attention to the company's highed experts so I'm still expecting some form of shakedown. Not least because the company is doing so well and has the money to pay for it!!!
They have already reached Q1 20 revenue of $9m and there’s another month which should include a much higher yield albeit a lower POG. I’m expecting guidance nearer 60k oz for the year.
wow indeed . and- pleasantly - i'm shocked by that.. and even more shocked that i got to buy a nice tranche at 92 p this morning ..
great news !! and I expect this to be back over 100p very soon... obviously revised guidance the key driver too..
Now if SHG get their VAT refund and SLP get bought by Elon and ...... no that’s just a dream
The news we were waiting for on vein 25 east zone.
Hoping to pick up a chunk early doors this morning.
G
Such a trustworthy company they only bought back 27,000 shares before releasing this sp booming news.
Most shares are not held in public hands and I doubt that the large investors are not worried about us but they too have to answer to their investors. It seems clear that the company by buying back shares is supporting the ii’s
Who are not selling as they know what is underground and have he time to wait. It seems most of us want Vein25 and they want if now... it’s the old adage The rich will take from the impatient...
I am intrigued about what the company hopes to achieve here. Many moons ago TSG went through an elaborate procedure to get more shares into the public space, and at the same time start paying a dividend. Now they are using buy-back to remove some of those shares from the market.
There is also the parallel influence of having to hit and hold certain share prices at certain dates so that director options can be exercised. Whenever I convince myself that the SP is bound to rise, the opposite happens!
The share buyback programme will not support the SP in the short term and it and all other variants are explicitly designed to avoid it.
Hence, putting it in the hands of an agent to avoid any suggestion of it - there are very good reasons for it not least is that it doesn't help shareholders evenly, tempts dishonest behaviour and potentially provides a reasonable case for someone who pays a higher price an opportunity to claim compensation etc.
Have said that, soaking up unwanted shares over a period to increase NAV of remaining shares will help medium/long term and IMO is a great way to utilise cash when a SP is low - so I hope they continue after the initial tranche of allocated funds is used.
...without it this would go plenty lower again I'd guess.. and even with it, this holding onto the 80's p is a good ways from very likely in my mind now...
(I previously said early 80's p was possible here ...but that was before they announced the share buyback scheme.. with that I wouldnt have expected as low as early 80's p, in truth - hence why I topped up higher when the announced buyback scheme - and there were others here thinking I was too bearhish in my views.. ahem.. so not as wrong as them might easily be my only defence in the end ...pyrrhic and still ouch)
Towards - kinda - finishing on a positive : any buying I might do under 86p will be bringing down my overall average price at least :-) (that's not to say I'll be quick to add more around now though)
I also read that but besides being a Russian miner the similarities are not so obvious.
Norilsk's operations have been suspended for months due to flooding, specifically related to one of it's factories which will eventually be brought back online. This will have an impact on group production and costs, with their pledge to invest millions into H&S schemes but Norilsk are a multi-billion dollar company and can absorb these short term losses. I think the major concern of environmental fines, which was a concern has been avoided for now.
With regards TSG we are waiting to see whether the higher grade vein 25 will be safe to mine once more. In the meantime TSG are still mining and processing ore from other sections of the mine. Production will be affected by a drop in grades and therefore an aggregate increase in costs, the scale of the problem is an unknown at this time though.
I don't believe the Board have reduced guidance since the accident as they are still awaiting details of the RTN report. We will probably have to wait until mid April to hear more about the grade of ore being mined and more details as to the future of Vein 25 are released.
A long wait until then.
You seem happy to spend ages trolling around other boards looking to see what I have posted - so look back and see the question.
See what artrader wrote - " I'll give you my expert opinion" - him - expert - only in his own mind. Proof that I am right about him being an arrogant, know-all.
Also - this out today - relevant to how this all started -
https://www.investegate.co.uk/mmc-norilsk-nickel--mnod-/eqs/nornickel-will-set-a-timeline-to-restore-operations-at-mines-and-norilsk-concentrator/20210303143142EPYLM/
Finally, don't put kisses at the bottom of your messages to me - unless you are a woman!
Sorry Noel I missed that one please repeat the message about the NN Website and I'll give you my expert opinion
x
artrader informs us - "it's one of Noel Gallaghers' best quotes"
It doesn't matter where you got it. My comment about how you, you used it is perfectly valid - mockery and ridicule - a standard tactic used by pompous, know-all oafs when they are proved wrong by the facts, who have lost the debate and whose skulduggery in misrepresenting the words of others is exposed.
By the way you still haven't answered the question I asked you about the NN web site and claiming to meet all the standards \ compliance etc. You don't want to answer because it will prove me right and you wrong - showing to be right again when I say of you - "pompous, know-all oafs when they are proved wrong by the facts".
I hope you enjoy your evening reading my other posts.
artrader must have a big grudge against me (and all I did was to post a link about an issue affecting Russian mines) and he is so obsessed in carrying out his campaign of vilification against me that he spends time trolling me on other boards,
So, BPat890 - would you care to say this to him -
Take a chill pill man, whatever someone said, it's not worth getting so wound up over.
Yes, I wrote that - let's put it into context.
ISAPENSION is another like you - knows everything, writes in a know-all pompous tone and can't stand other people having opinions that he doesn't like.
After I had looked at the price chart for the company concerned, I posted a forecast for the sp. I said that I thought it would drop (which by the way, it has done).
ISAPENSION posted a rebuke telling me that I shouldn't post things like that as it hurts people's feelings. Can you believe that! He is invested in shares but the idea that they might go down hurts his feelings. After that he called me a prick - but the sp has gone down.
He is like you artrader - an arrogant bigot and ends up wrong in his views.
Relax it's one of Noel Gallaghers' best quotes "He's like a man with a fork in a world of soup"
meanwhile yesterdays excellent advice from NoelShempsky to ISAPENSION (CNR) 19:49
"The know-nothing duffer shouldn't be in shares if he gets hurt so easily."
good advice
Slimeball 2 isn't very original Noel. Sorry NTM. A hasty choice, perhaps influenced by The Simpsons - didn't they have a cat called Snowball 2, after Snowball died?
Basically, they forgot to deduct exceptional costs on the p&L account. (or add them, adding a negative to me means a deduction to the world of high finance they deduct a negative) whoever invented EBITDA and adjusted EBTIDA expected everyone to have a large stock of headache tablets nearby.
To their credit the answer was instant but they may look at this again, Stewart did say it was uncharacteristic of them.
On the question of a claim against the Company on environmental issues it appears that Natural Resources, RosPrirodNadzor were seeking further payments for the disposal of 'Extra" waste materials dating back to 2016 the claim was disputed by and the courts decided in favour of TSG in October 2019. The NRP made an appeal to the courts decision and to avoid continuance they reached a settlement.
"He's like aa boy with a fork in a world of soup." - mockery and ridicule - a standard tactic used by pompous, know-all oafs when they are proved wrong by the facts, who have lost the debate and whose skulduggery in misrepresenting the words of others is exposed.
a standard tactic used by scoundrels when they have lsot the dabte on the
"not worth getting so wound up over." - how would you like to be attacked for merely posting a link- with relevant information regarding Russian mines - and then that attack followed up with false accusations, misrepresentation of your words, etc.
People like that need to taken to task. Look at what it is going on in Holyrood.
I will never cease to defend myself against the sort of skulduggery that we have seen from artrader.
artrader was keen to tell us that TSG is a UK company (something we already knew, but know-all oafs like that do like to think that they know everything and others know nothing) - so artrader, here are a few paragraphs about UK company law from Fresnillo's results, out yesterday -
The Directors are responsible for preparing the annual report and the Group and parent company financial statements in accordance with applicable United Kingdom law and those International Financial Reporting Standards (IFRS) pursuant to Regulation (EC) No 1606/2002 as it applies in the European Union.
The Directors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Company and of the Group and enable them to ensure that the financial statements comply with the Companies Acts 2006 and Article 4 of the IAS Regulation. They are also responsible for safeguarding the assets of the Company and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Under applicable UK law and regulations the Directors are responsible for the preparation of a Directors' report, Directors' remuneration report and corporate governance report that comply with that law and regulations. In addition the Directors are responsible for the maintenance and integrity of the corporate and financial information included on the Company's website. Legislation in the UK governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Neither the Company nor the Directors accept any liability to any person in relation to the annual financial report except to the extent that such liability could arise under English law. Accordingly, any liability to a person who has demonstrated reliance on any untrue or misleading statement or omission shall be determined in accordance with section 90A and schedule 10A of the Financial Services and Markets Act 2000.
Re: EBITDA - what went wrong here? Surely accounts ought to be doubled checked before they are released.
This isn't the first time the company has to issues corrected numbers. Last year, wasn't it resources, or reserves?
I am doubtful that I will ever be able to trust anything this company says.