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Do we all remember afren! Yes the current higher gold price is helping avocet but mark my words this is a massively indebted company. End of year equity was minus $70m and it is relying on majority shareholder for dribs and drabs of debt to continue trading, at a gold price of $1200 odd end of last year it was losing money and was down to its last $1.9m cash since then of course it has only the cribs and drabs money. This could go afren style so please be aware. Watch the debt....... And to clarify I'm not short or a ramper we got out as we sore the risks. Placing and or possible debt for equity swap even more possible now due to the sp rise recently. Don't get caught traders. ATB And yer I'm letting you know as I'm a nice person! Honest....
Who would have thought Brexit could do so much favour to AVM? It saved our skin. That's is the legacy of Brexit. It might sound selfish, but what can you do? Take the money and run!
So shiny stuff looking good at the moment which is sold in USD. With conversion to GBP favourable is this another plus? Second quarter results out at the end of the month - could be nice reading? Hopefully a reduction in debt and update on financing. Better than first quarter results could really make this take off?
Golf 1370 overnight,. Could see 1500 long before Christmas This could be a total transformation for this company, even with debt. GLA LTH.
Forecast by the end of this year
Looking like an out vote which would probably be good for avm
When there were 10 x more shares and was trading at 3-5p no one wanted this share but now they have consolidated people are willing to pay near £1 (old 10p) ..... just beware nothing has changed massively to warrant paying this price and to make any serious money you would now have to either put lots in or for it to go to £1, £2 or £3. Untill they get more funds either via a backer or fund raising, gold really shows its in an up trend and they start to report good increases in production this remains a risky stock. WATCH YOU DONT GET SPIKED. Not trying to scare just seen it all too often, but really hope you all make money as the long termers really deserve it.
To give balance, we had stock (small amount) and sold recently as the risk factors are too high. This rise is before either a placement and or a restructure that will leave shareholders shafted. If you can trade prior good luck but be aware! All the best..
Thanks - I'll have a word with them - it was the 1p / 5p thing that bothered me, the value of the two together is broadly correct, but some are still priced at around 7p and the others at 80p (or thereabouts). Maybe on their books they are performing the consolidation in stages rather than a one-off, which just seems odd!
After several years on the sides, I'm back in here again. Hopefully this should benefit rapidly from a gold rise.. Gold support now at c. 1303, next stop 1340ish hopefully.
Happytom, what should have happened is that your holding should have been divided by ten with you losing any fractional holding. Your value of holding should not have reduced (happily price is actually going up). If that hasn't happened, contact your platform/broker. I'm quietly positive this change has had the intended effect. We may even see it reaching £1 but ultimately it still needs a big investor to drive things forward .
Just looking at my shareholding post consolidation. I now have two classes of shares, 1p and 5p, neither of which individually matches a tenth of my pre-consolidation holding (and it's not a rounding error of less than ten shares). Does anyone else have this, or is able to explain it? Thanks
not deramping but gone through this before with other shares that have dropped back to original price and thought this was going to be another one, lets hope not.
diddly
LOL are they really???????????? mondo mondo mondo whos asked you to pop in here for a spot of deramping then?
are back wonder if it will get down to 50p or even 5p ????
Not invested here but was in the past so keep on watch. You now have 1 share for every 10 you had, sp increases 10 fold but no alteration to your value, the question is why have they consolidated? My view is that there will be a fund raising somewhere in the future whereby they issue more shares to the market which will give you the chance to buy some more at a discounted rate or take a payment when your allocated shares are sold. This in turn will increase the amount of shares in issue again but with avm getting some much required funds. IMO
Can anyone explain the benefits of consolidation other than rounding down every one with odd numbers of shares?
This aint no P&D 7p-70p 10:1 guys.....
This is the 3rd time I've been duped by a 10:1 conversion. Every time they round down, I know it's only 1 share but it's the principle grrr!!!
A 942% increase on no news and a 4.91% spread. Whos pumping it c`mon own up to it?
AVM I mean. God!!!
Ah thanks, HeresHopin, the answer was slowly beginning to take shape but you've put so succinctly that it makes complete sense now. I've been with AMC for so long now, I think I'm punch-drunk. Cheers
Someone's got a "Fat Finger". No offer @ 70p, unfortunately. Now marked as "cannot be bought or sold" on my ISA page. Sorry Folks !
Definitely down to a share consolidation that was voted for at the June 9th AGM. Look at the RNS.