Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Is there a rising wedge on the the Technical Chart?
https://www.lse.co.uk/ShareChart.asp?sharechart=SHG&share=Shanta-Gold&chart=technical
See the 1Y chart - the upper line runs from the spike labelled "Week from Monday, Nov 7th 2022" to date, and the lower line runs from the spike labelled "Week from Monday Dec 5th 2022" to date.
Does anyone agree that it looks like a rising wedge forming?
If it is, then I think we can expect an upwards breakout in about six weeks.
Look at the last year or so !? Lots of people got caught on the spike !!
Yeah, but with GGP at least I'm still up 599% (despite losing £600k in paper profit since December 2019) whereas here I've yet to break even!
@Angelis - Odey and Co have been patient stable investors for years (unless I am wrong). What I mean is that you need new buyers that buy tranches of £5 MM or £10 MM. New "size" buyers will improve the liquidity and attract new buyers because institutional investors tend to move in herds (benchmark) and the marginal effort to get a new institutional investor becomes smaller as Shanta adds large names to its cap table and therefore any new institutional voice will be incredibly helpful. My point is that I do not see that happening before Shanta can prove that Singida "works" (will require a couple of quarters) and WK meets certain criteria that enable Shanta management to pitch serious money guys. Hence IMHO this quarter and next will see smaller investors continue to accumulate cheap shares but before year end I suspect we'll start to see the first large buy orders in and the price could start to move. Caveat Emptor. I have no crystal ball.
Each day the gold place remains high pays off more debt and increases enterprise value. It also allows the possibility of Tanzania to deliver some more VAT relief on past monies owed and hopefully Shanta is making some progress on that.
At least get a Divi ! Ggp doesn’t get any , can’t afford it
Same as last year, remember they have invested heavily into the new mine.
This time next year after they have been producing 40-45% more gold at higher prices with lower AISC the profits will be through the roof and the divi will be a lot higher.
Divy not too great IMO, but better than nothing !
http://news.goldseek.com/GoldSeek/1242751631.php
More data is needed and hopefully someone in Shanta can provide so we can do the maths. Of course a map of the drilling area is very helpful as well.
https://www.mining-technology.com/news/shanta-golds-tanzania-production/
The news is slowly percolating through and let us hope they can smell the coffee in the morning.
Yes TONY big moves coming to the upside
I’m still waiting for the 5p placing and 8p haaaaaaaaaaaaaaa
Huge moves coming
Central banks added a whopping 1,136 tonnes of gold worth some $70 billion to their stockpiles in 2022, by far the most of any year in records going back to 1950, the World Gold Council (WGC) said.
Gold price $1990
10.50p incoming
DIRE !
We need WK to BLOW THE ROOF !!!
We been waiting for this re rating for years… itd a shocker we are at these levels after latest news… don’t know what the market needs for this to move.
This should be on 13p instead of the 11 handle. At some point Shanta will get a rerating against other precious metal miners.
Gold price attacking its highs again as predicted now with higher oil prices as an additional tail wind.
M and A will and is happening in the sector
We get taken over imo
Chinese will be back -25/30p no problem
I wonder what Eric meant when he said that some “big names, big people” would be attending the WK workshop. Strange wording if he is talking about Internal Shanta people.
https://www.reuters.com/markets/deals/teck-resources-rejects-unsolicited-acquisition-proposal-glencore-2023-04-03/
With dirt cheap valuations there's going to be a lot of unsolicited offers out there at all levels like this. The vultures will probably pop back up here before too long.
I'm aware of that. I meant further buying, but perhaps you were talking to NeverWithoutMeWi
It already has institutional investors, they own 24%, hedge funds own 20%
If II/funds want in then they will put in a low ball limit order say 10p, and the MM will lower the sp to fill the order.