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Another good update. Management always seems to deliver here. Production currently at top end of estimates in 1st quarter and additional power to be provided by PV's within the next few months to reduce costs. Also "An ore stockpile of approximately 14,000 tonnes, containing approximately 1,500 ounces of recoverable gold, was accumulated during the Quarter. This is not included in the gold production for the Quarter". I think production estimates will be comfortably beaten at year end.
https://www.bloomberg.com/news/articles/2022-05-07/zimbabwe-imposes-capital-controls-to-stem-currency-s-slide?srnd=premium-europe&sref=melRK1Xn
A statement from the Company whether and what the implications are for the business, if any, would be helpful.
Shot across the bow for Mark Learmonth!
This is a very efficient company and very profitable at todays gold price. I can see the divi edging up further this year and happy to hold these
I wish we were on our way to £20, but sadly I think we'd need a med-long term POG of >$2500/Oz to get there......
Are we on the way back to £20? Hope so.
Should be a divi next month but not mentioned yet.?
Sincerely hope the completion of the new shaft coincides with very much higher POG! What a bonus it would be! Higher divi and sp! Every reason to believe will! GLA
$2500 would be V good for the SP!
Finally some response from the market, a 10% increase in CMCL SP from the past 2 days of trading!
Bismarck, if gold keeps performing and the production does deliver more gold as predicted with the new shaft in action, we could easily shoot to 1500 or beyond! I agree, much lower risk than Russia or China! Otherwise there would have been problems long ago with mugabe in power!
So when do we take off? The sp?
The government own 16% of Blanket, the local community 10% and the staff another 10%. It is a good cash earner for the politicians and community which has helped them not get into issues I believe... as in extracting cash out of zim for divis etc... this year will be a good year for all with production increasing
As far as I know Blanket mine has operated free from molestation by Zim govt for decades.
This is a far lower risk than investing in either Russia or China as far as I'm concerned. In fact I've avoided Russia since 2014 for moral reasons.
I'm happy to keep topping up in this little gem at this absurdly low price. Ultimately we must be rewarded in one way or another....
The key issues are political and economic. If this company was operating in, say, Australia, the sp would be much higher. They seem to have overcome the hurdles of operating in a bankrupt country and keep on improving the dividend. I'm very happy to keep adding and picking up four payouts a year.
I agree it's very odd. However, no matter whether it's $1800, $1900 or $2000 it's still at least double the price that CMCL spend digging it out of the ground. That's why I don't understand the current SP.
This is absolutely hilarious. Gold is now DOWN $80 & silver is DOWN$1.70 (& they're both still falling). Both metals are now below where they were before all of this kicked-off last night.
Did every problem in the world get solved over the last 8 hours or something??? I've been watching this (so called) market for over 9 years now & this is, BY A COUNTRY MILE, the most blatant and ridiculous manipulation I've ever seen. They either thing we're ******* stupid, or they really just don't care.
But they want you to believe that the west has free-market capitalism. Free markets! FFS!!!
this will hopefully start to move soon... gold going nuts today
they had waited a day or so to finalise that hedging deal ...:)
The spread is variable and even at 6% is not prohibitive. I can buy at 915p this morning which is excellent value. We could be looking at around 65c dividend this year or nearly a 5% yield. Assuming gold doesn't tank this is one of the best picks in the sector.
I wish I could paste a snapshot of their fundamentals from stockopedia here.
This company is about as close to a license to print money as you are likely to find.
Forecast divi cover for 2021 = 4.24 X and for 2022 = 5.4 X