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A lot of movement in the last week. Unfortunately, with gfm, speculation is futile. We've seen a lot of rising and falling over the last year.
So these are the fantastic July figures we have all been looking forward to. Hope they all had a great time in Bermuda !
Fairly underwhelming result and content and another reference to Jam tomorrow.
Basic gross revenues:-
Q2 2023: $35.6
Q1 2023: $38.6
Q2 2022: $46.6
Still good revenue but an explanation of the drop in gold recoveries would have been nice.
It'll be very interesting what the 30th June bank balance was and what the BoD have decided to do with it
Very likely a response to slower growth in China, plus increased isolation of China, politically and commercially.
Whilst still recommend buy a big drop in target price.
Results due
Are they already in the know?
Very low zinc price will severely handicap the results.
Today's AGM is in Bermuda again. Ok, the company is listed there but it's a UK listed company. Could have a zoom link if the BoD really cared for s/holder interaction.
7th July 2Q results came out last year. Should be very exciting!
July results should be spectacular for half year production, although prices are edging down still. The board will need to address the elephant in the room by the time of that announcement.
It's the word "acquisitions" that scares me.
Just send the cash back to shareholders by dividends or capital repayments.
"Whilst the directors do not recommend the payment of a dividend at this time, all possible alternatives will be considered in 2023 by the board of directors to either return excess cash to shareholders, or increase shareholder value."
The latter frightens me: "increase shareholder value", usually means share buybacks, which has never added to shareholder value. Listing on a non-London market has its attractions. Both South Africa and Australia are more attractive than London for mining operations, but I would worry that us little fish would would be marginalised (not that there are any corporate types on board: maybe a dividend would solve that).
what a wonder share this is. First thing in the morning a 3% rise; looking good. By mid-morning, it's gone negative. After lunchtime it's marginally up. Now it's zero change. Two trades all day. The first one, bringing the price up by 3% was for 5 shares. Total value £4.80. Second trade was for 2 shares, total value £1.86. Someone's really hedging their bets here.
Yes, hopeful for a decent climb - I don't see to many hurdles.
Up 25% in 2 weeks .. very hopeful of £1.50 this year if 1Q production levels continue throughout the year and sentiment remains positive.
Sorry. I didn't take off the smelter charges so zinc $1,000 change in price is closer to $10m change in revenue based on the last quarter's production.
I appreciate that but of the gross (well after smelter charges) revenues for the quarter reported today:-
Zinc $28.3m
Gold $8.5m
Silver $ 1.2m
Lead $0.5m
A $100 variation on gold is possible to +/-- $0.5m revenue
A $1,000 variation on zinc is possible to +/- $14m revenue
FWIW (virtually nothing) I believe £1.50 will be seen again when three dividends have been received that signal 6p + a year will be consistently paid. I think a 4% yield is necessary.
Not just zinc
Initial market response has been disappointing for me > a more detailed announcement needed Zinc price clearly a factor
Apart from the zinc price you mean?
No reason now why we shouldn’t rescale the heights of 1.50 now over next 12 months. Then might sell my final chunk. Been a great ride since 7p albeit slow over last few years!!
They started to repay the shareholders , been invested here years, they should now introduce a strong dividend policy over the next decade, at least 20% off revenues should be returned to shareholders from profits it is now clearly generating
GLA LTH watch the BOD reward themeselves first !!!
As I expected no news was / IS GOOD NEWS. Now lets see the shares fly and an announcement about dividends.
It was worth the wait, I am now hoping the share price reacts accordingly.
Been very quiet, so no news is good news for me after covid affected LY 1/4 , I Topped up my ISA on the hope of gr8 news on production, Hopeful I will be exiting this year after a long hard ride, lots of downs, but some nice highs too.