Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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As a shareholder who has invested in this miner for some years now, I am still at a loss to understand how selling Tri-K benefits us. I'm not being negative, I just don't see it so please someone, enlighten me with facts and not just wishful-thinking or hype. The market always reacts positively on news of Tri-K and I sure hope it does when the deal is settled but why? We are giving away up tp 70% of the assets for a mere $4M of which we get after costs only $2.5M. We have debts. How do they get paid? Are Managem taking them over? $2.5M will last how long running the company? A year? Less? Then we have to fund 30% of the development when a bankable study is in, where is that money coming from? Yes, we'll get 30% of the profits but how will we survive long enough to get there? What have I missed that makes this deal so good for us? I really would like to know so some please cheer me up as I have a lot at stake here and the recent RNS always talk about being on the verge of bankruptcy when that statement seems inappropriate to the RNS content (why do they do that? Are they trying to scupper the boat?)
Since I have bought avm shares in 2012 - no peace of mind. Every time there is some bad news regarding money. Sold all avm shares and saved my skin and invested in solid gold companies like cey, rrs etc. Yesterday Bid fleshed at 30p.. warning signs.
http://www.cnbc.com/2017/01/26/gold-trump-oil-commodities-ubs.html
The gold price tested the 1200 level which was to be expected. It is rising again now.
Any reason for the drop anyone????
53 -> 72 is okay for a 12 day trade! Exiting here to move exposure elsewhere.. Reasoning below if anyone is interested. My short-mid term expectations currently are that: Gold looks likely to rise USD looks like it may weaken GBP looks like it may strengthen Gold will rise in dollar valuation the most if the above occurs. Therefore I'm betting on the dollar gold price, but note that if this stock is priced in GBP and GBP rises, then the GBP value of this stock has the potential to feel the negative effect of this in the move.
thats really the rationale behind the investment. I remember Eric sprott from sprott asset management saying years ago that the biggest movers amongst the producers are those with the highest costs per ounce as they experience the biggest jumps in profit with a rising spot price. yes there is debt here but so is AAZ and thats capped at double AVM with similar levels of debt and no where near the level of production. the fact that we are now un-hedged should act as rocket fuel as evidenced by todays rise and thats just the start. with gold over $1200 soon our profit margins pretty much doubles.
goodluck, been in and out of this for 2-3 years ( currently out ) , DYOR and read about funding , Tri - K etc. has some potential but could just as easily disappear and take your investment with it.they have been struggling to keep a float for last couple of years , i think they are now un hedged so you could do well on the spikes. ATB
just bought in although paid 10% more while I checked what the actual MCAP here was as their own website was saying £134 million high costs here but with nearly 80k ounces production every $10 increase in spot gold adds 780k to profit and on a MCAP of just £13 million its very material.
Morning chaps! Haven't been here for a little while. My trading style nowadays is to chart from the sidelines for as long as I can until I can no longer resist the screaming conviction. For me, gold stocks have that right now, the timing feels right and the upside is looking particularly strong here. Just built up a leveraged holding, so I'm in! Good luck all. S
Short term Prediction?
Looks like there is light at the end of the tunnel now. Its just a shame gold has lost all its luster in the last few weeks. Hopefully tomorrow's FOMC announcement will move the gold price in the right direction?
Very good news... gap filled - boom time soon... will be 80p by friday.
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Not many people would have seen todays RNS....Friday PM...So I reckon (hope)...more interest on Monday and inevitably SP will go higher...Hopefully we will get mentioned in weekend press...which will add to interest on Monday..>Gl OF :-))
I think somewhere between 80-90p is a realistic short term TP. I don't think we are going to return much higher due to the hammering golds had in the last couple of weeks.
Guess that answered my question! Not a bad gain for the day!
Back to 80p
Boom just like that!!! Now that's an RNS I was hoping for
Further to the announcement on 23 November, Avocet Mining PLC (“Avocet” or “the Company”) announces that a temporary agreement has been reached in connection with the gold seizure at the Group’s Inata gold mine in Burkina Faso, as a result of which the gold under seizure will be released, workers have returned to site and gold sales and production will recommence over the coming days. Under the terms of this agreement, Société des Mines de Bélahouro SA ("SMB", the Group subsidiary which owns the Inata gold mine) will work with the ex-workers to agree a final settlement over the next 30 days. If a settlement is not reached within the next 30 days, there remains a risk that production and gold sales will need to be suspended again if there was any risk of further gold seizures. The Company intends that, with the resumption of gold sales, payment of management fees by SMB to the Company will also recommence, without which the Company would need to obtain third party funding in order to meet its head office and corporate costs falling due in December. If no funding were obtained either from Inata or a third party, as announced previously, it is likely that the Company will enter an insolvency process, in which circumstance it is highly unlikely that any value will remain for shareholders. Further updates will be provided in due course.
The recent news is very doom and gloom on this one. Whilst the share price has taken a beating. I would have expected a lot bigger drop that we have seen. There must still be a lot of confidence out there that this will get resolved fairly soon. Could this be a good speculative entry point?
Shorters opening positions, this could go either way now
Court has already ruled seizure of the gold was illegal, so it's hardly going to allow the workers to keep it, will instruct it to be returned. RNS helps put a timescale on it, share drop overdone.
Avocet Mining PLC (LON:AVM) was one of the biggest losers on Wednesday morning, dipping by 12% after it told investors that a recent legal dispute will drag on for another month and could force the business into insolvency. At the end of October, bailiffs working on behalf of former employees of the owner of the Inata gold mine in Burkina Faso – in which Avocet has a stake – seized around 1,400oz of the precious metal amid claims that a number of agreed benefits remain unpaid. Although a court agreed that elements of pay are due, it indicated that the shipment – valued at around US$3.4mln – should be returned immediately, which still hasn’t happened. Today’s news is that the court will defer its formal verdict on whether or not the gold should be released until 19 December. The mine’s owner, Société des Mines Bélahouro (SMB), has said that it won’t ship any more gold from the mine until it is certain that bailiffs won’t seize it again. Without SMB shipping out and selling the gold, or if no other third party funding could be secured, Avocet warned investors that it may have to enter an insolvency process which would likely leave little to no value left for shareholders. The West African-focused gold miner added it was hopeful that the shipents will resume soon, after which SMB will be able to start paying Avocet again.
Still believe the issues will get resolved and the mine will re-open next month, drop in share price over done - this will recover