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It seems to me that other than RSG is cheaper than it was and may fall to pre float price there are no positives out there - disappointed in myself.
I am still suffering with MTRO Monk but strangely my % loss showing against RSG is far greater than my % loss on MTRO - I chose my words carefully as the amount I am loosing on MTRO is significantly more than I am loosing here. Sticking with both so let’s hope they come good.
I cannot imagine that a cracked reactor will be a quick fix .
They were planning on 120k for Q4 so if it is off line for the whole quater then they will be about 30k short of 400k unless they do better on their other sites . Production at Ravenswood was supposed to increase this quarter and Mako seems to be ahead of predictions. It may have been that with no problems they would have exceed their target, so although down, it may not be as much off as the headline guestimates indicate.
The target was only upped in August to 400K (from 300k) when the share price was a lot higher (although people may have been factoring this in already).
I've messed up here as well. I bought too many shares at around 92 even though I posted on here I won't do it. So I didn't follow my own plan and now I'm down almost 25%. Not too concerned long term, as I feel this is a short term hick-up but I should be buying a big tranche now. Instead I'm out of cash and thinking what shares I can sell so I can average down. Also I can't really average down too much because as I said earlier I bought too much earlier.
In case you're not invested though I feel this is an excellent entry point.
Looks like this will cause them to miss their annual production target of 400k Oz, could present an interesting opportunity if it falls back a bit further to IPO price or a bit below.
It's my fault Big B - I purchased some after the results looked ok - with some funds from selling out of metro.....
Talk about compounding mistakes.
Last quarter this part was 12% of production - so it is not as if all production stops (if I understand it correctly). I am only down on todays fall and had planned on holding this for a while so I am staying in for now (not that is any reassurance with my recent track record).
I am reluctant to post negatively about a share I own but this just keeps getting worse. I was disappointed by the loss of 18 days production from unscheduled maintenance but as soon as they get the system up and running it has cracked and the company now think they are unlikely to achieve forecast production in the quarter. I can accept that new technology can have issues but I am pretty disappointed with my investment here - I should have sold out when I first started to feel uncomfortable but here I am - thinking very hard about my next move. Can anyone give me some positives?
Fair point. Happy with the rise though hopefully it will climb back over 100 again.
Perhaps that could explain the 2.5% of the 7% rise but Resolute was also up 4.58% on the ASX. So at least 4.58% of those are unrelated to the FTSE 250 inclusion IMO. I doubt too many people down under pay attention to the FTSE 250.
Still we got a nice close today, up 5.59%. One more day like this and I'll break even haha.
I think that it dropped away when it was clear it was not going into the 250 at the last rebalance. The monies positioned from the current rebalance are now, I think, shifting to the next in three months, where, I assume it is hoped, that RSG will this time, enter. I have seen a spike in another borderline stock today although that is also on the reserve list as well for the current quater.
We're up nicely today! Any ideas why? Gold hasn't really moved, perhaps we got a boost from the presence at the Denver conference?
Dimi - I agree that the fundamentals in relation to our peers are good but I just feel I am on the wrong side of this and the wise early investors are exiting to invest their profits elsewhere. I will stick with it for now but the simple fact that I am not adding at the lower SP speaks volumes. If another opportunity comes up whereby I can convince myself that my loss on sale is recouped by a stake in a alternative oversold stock I am likely to switch. ATB
BB, I'm also not too happy with the performance here, I'm down 11% atm. I felt this had run up too much and waited till it dropped but obviously I bought too early. Probably a lot of people got 50-60% returns and there's a lot of profit taking atm.
Still I feel all the fundamentals are in place and this is quite cheap. If you look at the EV/moz it stands at 53 which is quite cheap even for a developer, never-mind a producer! For comparison Roxgold which is also active in Africa (i.e. risky jurisdictions) has EV/moz of 230. I calculated the numbers 2-3 weeks ago so they are probably slightly off but I feel it gives the ball park of the valuation. One more thing to say is that I only considered indicated resources and not inferred which I valued at 0.
Otherwise, I also agree that FRES offers a better risk reward atm but I feel we'll do well here as well.
Yes sorry M - this is my most disappointing investment. I don’t understand why the SP is quite so poor - I am not adding as would be my normal response to the fall but will hold for now although unlikely to be a long term investment for me. At this price you may have more luck but if PM stock is on your radar look also at SRB and FRES. I accept we were not on the list, I simply looked at the Market Cap which easily get us over the entry requirements - perhaps some procedural reason why but hopefully next review will put us in the 250.
I see you are in this as well BigB. It was not on the 250 indicative list so probably not going in this time unless something has changed since Friday. I only hold this indirectly( through UTL ) but would probably buy in otherwise.
Thanks dimi - loads of cash - strong team - several hundred oz of extra production at low AISC from automated mine - Amanda sounds confident and I generally rate her view. I was becoming disillusioned but further research makes me determined to stick with this. I had overlooked the fact that we are also a cert for FTSE 250 (6th September) which will get funds buying.
I've just come across a video of Amanda van Dyke discussing Resolute.
I assume some of you have seen this before but since the board is new I'm sharing it just in case.
https://www.youtube.com/watch?v=RBoOKqw-s_I
My guess would be that because the share price went up so much there has been some profit taking and that's keeping a lid on the price.
Well the results read very well -all good - so why is the SP struggling compared to other gold miners?
We can sometimes become flippant about money when we are invested in gold mines. $36 million is a lot more that the market cap of many listed companies and this is just extra profit for RSG so let’s celebrate the good news - there is not a lot to be had from the market as a whole.
That's a good piece of news. In effect, invest $4m (USD) to make $40m (USD), as long as the price of gold stays at current levels. Not world shattering, but very nice.
Welcome dimi - lets hope you bring us some luck - sticking with this for now but currently the only disappointing gold share I own. I think the issue is that the Australian market is still depressed which has a very negative affect here. Glad you managed to take advantage of the low entry price. ATB
I've opened a small position here after this recent pullback. Let's see how it goes. Not intending the build a big position just yet.
Getting pretty fed up with this share now, my other gold stocks are doing great but this continues to buck the trend - did I just arrive too late and now suffer as others bank their profits and walk away or is there something I am missing? I may have to follow the trend soon and ditch this to profit elsewhere.
Resolute Mining. Revised FY19 (31 December) Guidance of 400koz at AISC of US$960/oz
New acquisition of Toro Gold which adds the Mako mine,which is Value Accretive Transaction Provides Immediate Strong Cash flow.
Syama Gold Mine Mali,The world’s first fully automated underground gold mine. 8.2 Moz Mineral Resources 3.4 Moz Ore Reserves 300 kozpa Target Site Production US$ 746 /oz LOM ASIC 14 years Mine Life 4 Mtpa Plant Capacity.
Ravenswood Mine, Australia Mineral Resources up 24%to 5.9 Million Ounces Ore Reserves up 58% to 2.7 Million Ounces Addition of 1 Million Reserve Ounces Ravenswood Expansion Project gets bigger!.
Bibiani mine Ghana. TARGET PRODUCTION 100koz paLOM AISC764/oz RESOURCES2.5Moz TARGET MINE LIFE 10Years
https://clients3.weblink.com.au/pdf/RSG/02130750.pdf