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Haha you can think what you like, I'm not that insecure to care.
Anyway, after that 40 years in finance revelation (very generic btw which probably means a back office job in Canada's sixth largest retail/commercial bank), I actually feel a little sorry for you. Maybe the old noggin is slowing down these days so I'll stop goading you for now.
Apols to the rest of the board for filling an entire page with drivel haha at least I was entertained for a few mins.
Waiting patiently for the next underwhelming RNS from Mr. Bell
so sad only bashes no definition from KimiR not even cut and paste (a skill learned in kindergarten btw
sorry if that's too advanced for you
Oh cringe... "Masters in Finance" but copy/pastes from investopedia.
I'm going to put it down to a language barrier or not understanding the UK market but a tree shake on MM controlled SETSqx ticker is different to what is in that article.
Maybe back to interning on a trading desk old boy (joke)
Here you go-some general information- read and learn
understanding Shakeouts
A shakeout isn't a well-defined term. Depending on who is using it, it can refer to a situation that sees consolidation, or a situation where there is a severe correction.
In broad market usage, a shakeout is simply a period of market turmoil that causes investors to pull back. Again, depending on who is talking, this situation can be described as a shakeout, a market selloff, or a market correction. In technical analysis, however, a shakeout is better defined and is said to occur as a leading stock corrects in price.
Technical Shakeouts
When it comes to chart formations, there are a few patterns that are considered to be shakeout patterns. These include the cup and handle pattern and the double bottom.
The market narrative for a shakeout is that periods of rising prices will eventually exhaust all the bears, as well as all the interested sellers. In the absence of selling pressure, the price action carries upward beyond its moving averages and encounters resistance and dropping volumes. This halts the stock's advance and leads to a pullback.
After the shakeout, the previous trend often reasserts. It is worth noting that a shakeout is almost exclusively used to refer to an interruption in a longer-term bullish trend.
Industry Shakeouts
Shakeouts happen all the time. During broad market events, such as the dotcom bubble or the Great Recession, there are numerous shakeouts that see money pulled out of particular segments of the market. However, there is a related usage of shakeout that deals with specific industries.
An industry shakeout is when a period of massive expansion is followed by consolidation. In this case, stronger companies use their capital reserves to acquire or eliminate weaker competitors that have overextended themselves.
This happens frequently with new industries, as with the dotcom bubble and the more recent rise and consolidation of social media companies. If the companies in question are publicly traded, then the industry shakeout is mirrored in a market shakeout. If, however, some or all of the companies remain private during their growth stage—something that is becoming more common with technology companies–then the shakeout takes place without involving retail investors and the broader market.
LOL you dont know do you ? You disagreed with mine so I challenged you to provide your own
BTW I have a Masters in Finance, worked for major brokerage company and have over 40 years experience in finance
You'd do well taking on board your little quote there. I'm not the one that doesn't understand what a tree shake is. 4 days is it now? Poor little resident fool is now begging for the definition.
LOL still no definition? Reminds me of this
“Better to remain silent and be thought a fool than to speak out and remove all doubt.” Attributed to Abraham Lincoln in Golden Book, Nov. 1931
The dilemma is who would be the greater fool? You, the resident fool, with evidenced lack of trading knowledge. Or me, trying to educate a complete fool?
Keep the crap posts coming though, amusing if absolutely nothing else.
LOL cant stand the truth nor can you even provide your definition of 'shaking the tree'
now bashing RRR is not enough you bash posters
How's that nonexistent tree shake going?
Caveman brain of the resident fool strikes again. Wonder what other terminology he'll try and pass off with no understanding next.
There is a lot of value in Kenya, yet to be extracted, in respect of the gold grades, broadly in line with Tanzania, I tend to agree with Helpful, a JV partner or outright sale would make sense.
One also wonders how close we are to hearing news on Elephant Oil, their offer document has been online for nearly one month.
Then there is the little matter of $7.5m Congo cash.
The shares are starting to look cheap.
RRR has NOT been looking for a JV for ages. There was a long court battle on license renewal and RRR announced a JV partner would be sought AFTER the Kenyan elections in 2022 which have only recently been concluded
AB mentioned sending the staff home a few times in recent interviews.
A few election back, the locals for some reason thought we were a Kikuyu owned business and there was large gang that turned up with machetes and sticks. Luckily it was resolved and so it can get a bit tasty in Kenya.
I take a different view. My view is that it is time to move on with Kenya: either sell it, flip it into another listed vehicle or find a JV partner that can fund it and will bring it into production. There may be a lot of gold at Migori but the grade is fairly low (still commercial) and it will take a lot of drilling to prove up the extra resource.
When looking at these assets we need to run a grid on them so we can rank them. In my view the big upside for now is n DRC and that is where the capex should go. I don't think we want to spend $10mil at Migori and spend 3 years proving up the resource. In that time we can bring a mine into production in DRC.
On the others; BK, Cote d'Ivoire, ALR and NBGC the intention is that outside capital will be brought in and each will have its own management with an independent future. So fairly soon the cash burn will be off RRR's P&L and RRR will have assets held for sale.
If you look at the data I posted yesterday, large amounts of gold are produced in BK. No reason why FGR can't do the same. FGR is in an area prolific with gold mines and well away from the conflict zone.
Anyway, each to their own.
DYOR
Helpful you make a good point on Kenya and I was not aware the staff were sent home.
But Kenya is a picnic compared to BFaso - RRR should just suspend whatever it does
Nice place to do business.
https://www.theguardian.com/world/2022/sep/06/dozens-civilians-killed-burkina-faso-convoy-blast
TDT
Helpful yes its great that we can continue working in Kenya. What I meant about jam tomorrow was the Kenyan effort has been going on for years and we have been looking for a JV partner for ages too. But nothing seems to come to fruition. We had the fantastic asset in the Congo which should have seen us all smiling but again no end product to date. We keep drilling in lots of places but again no end product. I have been here since Greenland and am still awaiting a result.
And there was me thinking "now" meant something different when all along it meant "jam tomorrow". Silly me.
The staff and workers at Migori have been sent home for the election and it's afters. "Now" they can come back and resume work. "Now" we can restart the work on a JV.
It is a bit difficult to do much on either if there are full blown riots and people being murdered all over the place. It would tend to put potential JV partners off.
My apologies for posting information other than that which you give prior approval for. But given that it is news, I hope you will understand....
DYOR
Always promises of jam in the future. When are we likely to receive the Congo settlement in the bank??
https://twitter.com/KTNNewsKE/status/1566738093591461888?t=BSeaISl7uF_BnJY5cnhy9A&s=19
Now we can get on with doing the doings in Kenya. Time to progress on the ground and secure a JV partner.
DYOR
This states production in 2021 at 45mil kg which I find hard to believe. Maybe 45mil oz but kg?
https://www.ceicdata.com/en/indicator/burkina-faso/gold-production
This one states 102.8 tonnes of gold
https://www.gold.org/goldhub/data/gold-production-by-country?gclid=CjwKCAjwvNaYBhA3EiwACgndgsPwusLvTrzN6cKbGmjO9fkLpM7rcO9PObgUOAyWCwSzTLRUwvU6ZxoCOvoQAvD_BwE
When asked why he robbed banks, he stated, "that is where the money is". We have gold assets in Australia, Colombia (royalty), Kenya, Cote d'Ivoire and Burkina Faso: why? The answer is, that is where the gold is.
My view is that I prefer BK over Victoria. I think it will be much easier and quicker to bring a mine into production in BK. It is not deffo but it looks like we could have a mine out of these results. Open pit, shallow, decent grade and a supportive political environment. The operating costs (even using western techniques and no child labour) should be a fraction of the cost in Australia.
DYOR
H50 - pretty confident that BF is seriously dangerous and Pandas reseach suports that.
The issue is not remoteness its the target - remote in this case is a sitting duck and the French who 9ffered some protection are out of the Sahal. Sudan. Kenya even Afganistan yes but BF no
Key question is why RRR is there in the first place working. They have a long history of moth balling projects this one can be month balled with good cause.
Meanwhile we await Congo
Just read another article about gold mining there :-(
https://www.voanews.com/a/gold-mining-in-burkina-faso-becomes-increasingly-dangerous/6306146.html
I attended a presentation event where a question was asked about the security of exploration personnel in dangerous locations, the CEO said that great care was taken and security measures were often taken by way of armed guards, a security company would be employed if necessary, many of the locations were considered to be very remote regions of no interest to rebels or armed groups, local knowledge is also used.
In all there have been very few incidents given the sheer amount of mineral exploration in deemed dangerous countries.
This recent incident is likely to put off potential investors
https://www.reuters.com/world/africa/militants-kill-6-attack-convoy-burkina-faso-gold-mine-2022-08-27/
Kurt unfotunatly BF makes DRC look a picnic.
FCO advice avoid travel in all circumstances due to terrorism and kidnapping.
Things may change but unlikely doubt this is sellable.
When I saw the RNS I thought we had a Congo outcome