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All over the place
Didnt add due to high spread.....But Hey Ho..
Could this be a dead cat bounce or false hourly strong buy signal ...
Lets see how this one oans out
Well done holders
There’s some frantic trading going on- and yes bonkers spread at times …
Paul, I mostly agree with what you say and in time all will be goidbut of concern is the expanding timescales and failure to take action and be innovative with regard to development and monetisation of the 160km2 and EDX.
I think you are missing the point--------It was artificially high. If what was going on had been known about at the time, would it have been that high?
Lets say Martin Horgan starts high grading now and the profit and the dividend doubles, BUT you know that in a couple of years , that you will have to clear waste again and the dividend will be cut. Would the share pricet go up and would it be a fair price?
Wouldnt you rather have the job done properly with the same (or better as things move along) average dividend over 4 years than a more reckless approach?
Back to £1 she goes then when gold retreats in the next few days after we calm down after SVB then the price will be back to the mid 90s
Back to sleep for another year,worst share i have ever bought
Even if you wanted to buy now the spread is cist prohibitive IMO..
Im also glad Ive sold a large tranche (in my terms i.e. ) over the past few days
Alas still sat on quite a few and hurting
See what happens PM if the spread narrows
GLA
G
ASIC up, profit (after payments) down, EBITDA down, divi cut(which I think is good, but only generally seen as good when profits are consistent and credible explanation of expansion or where the divi saving is going being positive).
I think this will be fine in time, as costs come down and prod continues to go up- but where it's reported costs up more than production up, not good.
The most frustrating thing i find about this year is like yesterday gold was up but share price was down,so perhaps because of the Ftse being down
Today gold still holding up well and Ftse up 70 and we are down again
What is different today than the middle of January when the price was 125
As expected. Fair value price last year was 94p. At this moment in time, until we get Q1 results fair value is around the 101-105p mark. The key figure to work out is that $171M profit = 94p area. So it all depends on Capex, gold price sold, AISC in the projected range and production volume to get a range on where it may fall.
My initial calculations had value between 101 and 105p. A lot of patience now required to see what happens to gold price.
I take no joy in saying this is why I sold yesterday- as I said I got burnt a while ago on RNS results, even when they are y/e and "known" to a large extent.
I also learned not to jump back in again too quickly, so will watch and wait.
Yes it was fairish at 220 as profits were over double, none of us (well hardly any) expected the wall collapse , eps 2021 13c now 6.3c so more than halved explaining share price and divi - we are still paying out most of the earnings even with this reduced payout. The annoying thing for me is I held through thick and especially thin as Hogan as Horgan said deofitabilty would be coming back by now, but we have to wait nother couple of years, hey ho. In the meantime the price is down this morn and traders like Steve can get back in cheaper.
Sotolo , you always say that the share price is at a fairish price. Was is as a fairish price 2 1/2 years ago ,when it was around the 220 mark and you were saying it was going to 300?
You mention the reduced dividends. Im not happy with this one being cut to 2 1/2 cents, but hoping it will get better from now on. If the last lot who were in charge had been doing a better job, rather than high grading, to create a higher profit and dividend, so they could get out at an artificially high price, the divis could have been reduced by a 1/3 for a couple of years and the "Wall" problem addressed using that money. If they had done that, we would be at a higher price today with a higher dividend. They robbed Peter to pay Paul (but not me) and now all the poor Peters are suffering for it.
People say that this is a "great trading share" , but it is only good if you trade and get it right.
I've said before, without dividends, shares are just a pyramid scheme. Someone who got in here at say 100 -130 and got out at 200 -220 would be really happy----------but the poor sod who got in at 200 ---220 and holds now would not be.
I cannot really read/ understand the updates, but it does seems "steady" and a 6% increase in the amount of gold mined is not bad. As the waste removal comes to an end, things should look up.
Fingers crossed for gold to stay at a decent price and one day we might come good here and get those golden flip flops.
No worries Sotolo- as a trader I would have thought that this would have improved a lot faster, but the inflation massive whack didn't help at all- I recall Vitaly at POLY being the first to warn of this way back even before it accelerated, and the POLY SP got whacked immediately at his admission. I don't see any surprises in the RNS, but seeing AISC up more %wise than gold produced and EBITDA down, is not great. Having said this, all this was already known so I've no idea at opening, so just watch and wait... I do think the future is rosy, I know the costs aren't great and was a bit disappointed for not seeing an more aggressive projection of a bit lower costs in 2023.
From the report under "Sukari Value Maximisation" (final paragraph in this section) — significant, I believe. "With the underground reserve life growing from three to approximately ten years since 2021 and an active pipeline of further growth targets identified, we carried out an independent underground option study to assess the potential to increase the mining rates. The study concluded that underground ore mining could sustainably be increased from the current life of mine average of 1Mt per annum to a 1.5Mt per annum with low project execution risk and low capital intensity. Work in 2023 will focus on fully engineering and planning this expansion option for implementation in 2024."
Steve I hold in the hope that gold will some time break out and this will be heavily geared to that, and the share price has settled at fairish value. As said I take a very long view, do not play the market, look at the fantastic long term reserves unlike most miners, and the divi gives me an income while holding. When profits and divi are so down it is disappointing and annoying, and that we are now expected to wait till mid decade for recovery. Steve long term holding is just a different mind set,
Exactly Sotolo- but over the years, when you keep saying you've so much invested here, lost loads, don't hold for the divi, expect big losses etc etc- are you completely mad? This is not dig, but just always surprises me.
As expected. Steady as she goes. SP probably drop back today - but depends on Gold Price.
or to put it another way the heavily reduced divi is mainly a result of much lower than historic profits which is bad…and reduces share price, this is not gloom but the reality that has happened, Horgan said when he came we’d be coming out by now but always another couple of years. I will be here waiting as a great balance sheet in the meantime and one day gold may move
Steve I am not holding it just for the divi, my point is a heavily reduced divi reduces the share price, which it has!
No Sotolo, this proves my point on not holding this share for the divi. I explained this so many times...
Previous divis under Pardey, well we are no longer a high yielding share and our pe is now above its more usual 12 or 13, so sadly either the share has to come down a bit or profits rise to make this good value again.
21 10c
20 8c
19 14c
18 13c…
And now just 5c, lucky pound has fallen so hard to temper the blow
Nothing much else surprising in the results I can see
Well Steve, you thought I was being cheery, by which you meant excessively gloomy, about the upcoming dividend, saying it will be down the 3rd to 304 cents well actually it is down to 2 1/2 cents, the annual dividend is virtually halved and the yield is Daniel, 4%, even that the slowest share price, explains why the share price is where it is and will be fair value when the company profits improve a bit next year. In the meantime, I want to have the market will react to such a big cut