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I feel like the cat that got the cream
What an opportunity to top up
This is still going in the direction set out in it's path therefore no readon not to top up at these prices. Make oe break. Work or retire. 50-50 chance here. Great odds. May even bounce back today.
Re strategic report - an auditor would require support for any statement. Given the summary hasn't (TBD the motive for that) been released, I don't think he could be any more positive even if he wanted to be.
I dont think this drop has anything to do with the release of the yearly accounts yesterday. There wasnt am immediate drop or loads of sells on the opening bell. It looks highly likely its the drop in POC that has spooked some .
Fundamentals are unchanged and we have alot of income coming by October.
I am not sure that the chairman's report was so much, 'not positive enough', it was more rushed and boring. It's the problem we've discussed before, Colin has quite a few companies and so has a few of these to write, he seems to be somebody who remembers he's got to write the report the night before and so puts out the basics and then grabs a whiskey.
It's a shame as there is much to shout about. Good Revenue (more than most companies when they sell an asset). Worldclass exploration speed in Australia. The forming of development of a major national asset area in Bushranger. We've had a reconsolidation of resources (nobody had any value for Kalengwe (or whatever it's called).
Triple digit growth in the manica revenue.
Finally No more finance needed (how many exploration companies can say that).
This year, we've continued to see strong growth in revenue and seen the massive milestone of Manica (empress) reaching production.
I am not sure why Colin can't simnply say - "Our African projects are being managed by other people (and are doing very well), we are looking for more african projects to do the same thing with. We are looking to get a partner on board to do the same with Eureka. As a company our internal focus is Australia - with the exploration being fully paid by Africa!"
Tell us with certainty when the model will come out. Tell us the actual strategy for Ascot. TBH there is so much that can be done.
At the end of the day, the revenue will eventually speak for itself and Bushranger will, but I appreciate it's painful atm and made worse by a Chairman who doesn't seem to have the time to dedicate to the company.
The drop has certainly created some liquidity - volume much higher than recently. Copper/Gold down. Don't see any material justification in the accounts. Overdone IMO. GLA.
Is it the whimpers selling or the london boys getting there bonuses setup for half year results. Letting some with money get in cheap here I believe.
sighhh
Copper price falling explains much of the problem here imv.
I agree Oliversydney, this looked like the best thing since sliced bread with all the positivity coming out of the interviews from Colin and now we are dropping again under 4p, so I hope he does another Zak interview and stops the rot. I won`t be selling now but certainly not enjoying the ride at present.
Why all the biggish sells ?
RNS coming ?
Under 4p now
As a long term holder I had such high hopes for this share but must admit those regular interviews with Zak Mir in which Colin was so euphoric about everything seemed rather over the top
I was not impressed by announcing the annual accounts after hours and the chairman's report was nowhere as positive as all the interviews so not surprised about the sell off
I am not selling as still sitting on losses but only hope Colin will still deliver
I didn't think I'd ever be underwater here.....
Better Call Zak..........
Got it now cheers Andy
The 2020 revenue figure was surprisingly high when announced last year and didn't reconcile with 2020 quarterly RNS statements.
"The 2020 financial statement revenue figure is £1,725,000 and all revenue is shown in the segmentation analysis on page 63 as coming from Mozambique alluvial gold sales.
The Q4 2020 alluvial RNS published on 26 Mar 2021 provides quarterly analysis of the revenue for the year end 31 Dec 2020. Total attributable revenue for the 4 quarters is $1,222,350 approximately £962k"
I emailed the company quite some time ago about it and was informed that 2020 included sales of gold on behalf of 3rd parties.
It's a pity the commentary on the 2021 statement doesn't make this clearer.
Howezap inventory is actually £177k note this is valued at cost and not at saleable value. Unfortunately ounces aren't disclosed. Inventory ounces should imho be included in quarterly RNS.
Gold inventories have increased to 1.77m base value, which is more then the previous year total revenue from gold sales.
Explains the reduced revenue figure this year!
AGM looking to be confirmed in July.
I don’t share Lucky’s angst over the full results RNS.
For several months now I’ve been saying they don’t know what they’ve got at Ascot - they’ve drilled just eight holes and only found modest amounts of copper - though the geophysics are very encouraging. It’s entirely reasonable to surmise that there may be more deep-lying copper or gold. However right now I’m ascribing no value to Ascot but hope to be pleasantly surprised.
Racecourse - no new news today, all as expected. I don’t think we can read anything into the “global” comment - they’re simply saying it’ll be clear how RC stacks up against other deposits/porphyries around the world once the modelling is complete.
I suspect CB has simply poorly explained why Kalengwa is a no-go - perhaps it has proven to be less economic than hoped for, to the extent that the lack of provision of power is the straw that breaks the camel’s back and means the overall project doesn’t meet threshold return on capital targets. It’s disappointing it hasn’t worked out but there were no guarantees.
I think the news that no placing is imminently required is the biggest take-away from today.
Thanks howzap, maybe I should try understand the terminology of the words being used first. (In mining terms)
For the investors here trying to understand the scepticism, frustration and anger on my part...... go and read all the positive RNS comments surrounding the kelengwa accusation.
Signing off!
One last post and I'll turn off!
MINE HOUND, the reason there is no need for more funds is the fact we already raised millions at the cost of dilution to the existing shareholders. Now..... if you take out bushranger and the dilution, the SP should have been somewhere in the region of 9/10p once fairbride is in full production.
Lucky
Once identified, is generally referred to a porphyry, but if proven by drilling that it is mineralised and can be extracted if has economic value, then generally, referred to as a deposit or a porphyry type deposit or a ‘named’ deposit.
Was it the deep system suspected below ascot that was referred to as a semi-porphyry. Now being referred to as maybe being true.
Theiceberg did explain the geological reasoning behind the term so please check.
Good luck with the smoking cold turkey, did it 15 years ago, it gets better pretty quickly.
Tdouble, thank you. I will step away for today. I will have to check the SP reaction tomorrow.
I am quiting smoking at the moment too lol that's probably not helping.
How about a possible gold mine sitting on top of a(nother) possible copper mine ?
These results have largely answered all the questions that have been discussed at length today, including mine.
Tick up in the morning I think.
I bet CB chuckled at all the speculation today, knowing the RNS would drop after hours.
If this you when relaxed.....
Enjoy your holiday, step away from them forums and looking at SP
Okay..... maybe it wasn't CB who did the Due diligence. We can ask at the annual meeting who did and are they still employed!
ascot, personally i hope we>re going to drill the bollards out of it.