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Agree with trek, I sold today. If drops below 190 or so I might consider re entry tho.
Decent results in my view considering capex of approx $30m expected this year with only about $12m being sustaining capex the rest going on solar and back fill projects.
If look at the five year Cu price it's doing just fine, Zinc has pulled back to traditional levels from a unsustainable peak, Lead is in an upward trend for the last Twelve months.
Imo cash would have been stable without additional capex even with increased inflation costs.
I held at previous results. I was hoping 10p would be kept and didn’t expect cash pile to go down so much.
I am not surprised at rev with copper price. If that changes which is likely then it will transform the Balkan sheet here and elsewhere.
Also been following ECOR as well but would’ve bought here over them as this is debt free. But imo they simply cannot give up 10m of cash in 6 months! That puts pressure on the balance sheet if they acquire as it’s less cash available.
That’s just my view and it may be wrong but I won’t be buying back for this divi.
Either way good luck guys.
Usual caveats
Trek
Did the other posters actually read the results before posting ‘poor results’ and other negatives lol
I’ve been adding what I can under 190p, 9p is still a brilliant yield no debt and 10 years mine life on each of the mines, this and our favourite DEC are very good income earners.
Trek, did you not read H1 operational update? All you mention has already been reported. 9p divi is better than many thought. Suggests business performing well currently
I was going to buy back in yesterday glad I didn’t!
I get the Rev down due to price but the divi cut ouch and the 10m drop from the cash position!
And no I wont be looking to get in cheaper. They simply can’t sustain running off cash like that!
Usual caveats
Trek
On profits, cash.
Let’s hope the worst is behind and commodities really rally
No worries, will know in a few hours' time.
Thanks, where do you get 'forecast 12p' from, please?
I think 13th September is the dividend declaration date so tomorrow we will know. Forecast is 12p.
xd on the 28th September and paid on 20th October.
Price is rising again! I think they dropped the bid in the morning to catch a few people out
10p I believe
Strong price action today and think it will continue until we go ex divi near the end of September!
What Dividend are we expecting 8, 10, 12 or something else?
I'd like 12 please
162,000 shares bought earlier today, somebody has confidence, or just moving in pre-divi. paid £2.02
Agree mostly with LawStudent. Yes, I expect a rise towards divi announcement but not the £2.30 region. I'm hoping £2.20. Divi should be worth a drop to £2.10 and then move on.
Dividend being announced next week. This should see a steady rise to around £2.30+ imo. Good luck all
This morning opened above descending trendline for first time since 10th May. Has taken longer than I expected to break through the technical resistance
Possibly gradual improvement into the trading update, then the usual rise / dip around divi? Would be v disappointed if doesn't go above 220 by end of Sep
Something brewing here.. looks like it's heading back towards the 225p + level
If I were you, I'd completely ignore most broker reports (especially London Canaccord).
CAML is very well positioned, two low cost mines with c.10-yr lives and strong balance sheet. So the company has no need for Canaccord's services...hence the negative comments.
CAML have mentioned a number of times that it is looking for new growth opportunities...given current state of equity markets, there must be some bargains out there for CAML.
First, given that something around 80% of predictions never come to fruition, I general don't pay much notice to Broker notes.
This did take me a bit by surprise though: "Central Asia Metals Plc : Canaccord Genuity cuts target price to 190p from 265p * Central Asia Metals Plc : Canaccord Genuity cuts to hold from buy *" Why? Just generic cuts within the sector?
That said, I think the technicals here are looking favourable for a rebound to 220.
Thanks wondered what was the reason for the uptick. Been waiting to get back in here but committed elsewhere!
One minute it’s like you got all the time next it pops!
Usual caveats
Trek
Looks like that tip has worked, positive rise here and shows probably does not take too many buys to make that change. holding past the £2, certainly like to see progress by mid sept and have to decide whether to hold out for next divi payment
Also was investing my divi s from Bt and Lloyds here, hopefully won’t see a rise 🤦♂️