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i missed this last week, its nice to see the face behind the company: http://www.brrmedia.co.uk/broadcasts-embed/5894b4bd6539aebf25082617/event/?popup=true seems right now the companies major concerns are to reduce costs and increase efficiency, well i'm all for that!
Hi Maple. I believe we have already received the Q4 results from Avesoro on 12th January 17. The RNS / letter from Avesoro was titled" Q4 Production and Operations Update" . It showed that production had increased by 34% over Q3. Looking forward to Q1 results in early April and further strides forward and good news.
When can we expect these?
I think we can not reach the value of the company's stock at just ounce of gold price. If the investors are convinced of the seriousness of the company and the minimized cost of the production made, the real potential arises. Small investors in the bottom of the stocks are in the process of recovering the money they lost. I think the big picture tells different things. In 2017, we will see the continuity of MNG management's seriousness. While examining the classical meanings.
MNG currently has no intention of repeating the old company mistakes in the case of the 55% dominated by liberia. The land speeded up the gold calls. The company that does all the business of managing its own operations finds out the gold and sells it profitably.
lets assume they make $300 an ounce with annual production of 100,000 ounces =$30,000,000 per year. Say 7years tp go =$210,000,000 or at todays exchange rate £170,000,000 so 2.625p a bit low ?
RNS 13.5.16 from AUE “The mine is expected to have an 8 year life and annual production of 119,000 ounces for the first 6 years of production.” 16.5.16 AUE share price 3.25p AUE shares in issue 1204m Market Cap ( 3.25x 1204000000=£39.13m) RNS 26.1.17 from ASO “I am pleased to now update our investors with production guidance for 2017 of 90,000 to 100,000 ounces of gold”. 15.2.17 ASO share price 2.625p ASO shares in issue 5,324.76m Market Cap (2.625x5324760000=£139.774950m)
MNG management sent unnecessary expensive subcontractors in mining operations it took over. The previous company had already made these subcontractors rich. The company can not live without profit. It hurts small investors like us. Mng officially sees the opportunity to buy this company, but there is a profit on the basis. Reduce the cost of management expenses of gold extraction. We will see it on the bill in the last quarter already.
POG Down,,ASO ,UP,,
investing .com /tools/ fibonacci-calculator 23,6% 2.405 - 38,2% 2.2225
i cant using fibonacci level in LSE papers. 1,45 to 2,7 high percentetaion. anybody using data panel for fibo level?
Yes, happened yesterday on TSX, but bounced back a bit, we'll see today.
-- William Shakespeare --
Looks like a slowdown today due to people taking their profits. Resistance that should break upwards next week, me thinks.
Still a daily chunky buy or 2 going through amongst the smaller trades, even if marked as sells. I topped up at little below 2.6 earlier and it got marked as a sell.
Alas musamura I am not a person of any faith - so you've got me there
Here i was , like a psalm (who is he ?)
looks good for another rise tomorrow maybe 3p?
whatzi - As Kerspick kindly said to me Wednesday PM after I made two typos in once post - "That's OK its exciting times for a change, good reason to loose our minds a little"
Yes, you're correct, I mixed them up.
This is going to motor on now for a little while (hopefully). Just added to average down.
+1p in a month at this rate 12p by xmas and we will be millionaires in 3yrs !!
i ordered 1.49 but nothing happen but 1.0000.000 sell 1.48 today what's wrong here ?
Absolutely Whatzi. But is Mehmet Nazif Gunal not Umurhan. FORBES magazine says that Mr Mehmet s a self made man and that he had an estimated personal wealth of $1.58 Billion in 2015!! - he was then aged 69. Extract from Forbes:- Mehmet Nazif Gunal's MNG Holding holds a diversified construction, tourism, cargo, airlines, aircraft maintenance and mining portfolio. Two of his hotels in Antalya are life-sized replicas of famous buildings - the Kremlin and Istanbul's Topkapi Palace. His Mapa construction was part of the consortium that won the $24.4 billion tender for the construction of s third airport in Istanbul. The company is also be constructing the Kotoka Terminal Building in Ghana, expected to be complete in 2017.
That's OK its exciting times for a change, good reason to loose our minds a little