The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
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Hopefully will be a bit of both :)
Its an AGM not an investor presentation.
Doesn't give us more questions than answers. Sorry at school trying to get it ready for children to come back. Still get frustrated when people think l get 6 weeks off lol.(site mamager)
Dont really want an rns now just to appease us. Bit annoyed now all the hype awhile ago now in the 3s. Hope all goes well ,the ones that are going. Hopefully bring back some sort of good news as long as it gives us .ore questions than answers.x
A final conclusion to bushranger could well be sooner than many are expecting after the announcement a phase 3 drilling campaign is ‘under consideration.’
If we actually ignore the idea that all is not well from the doomsday crew. There are quite a number of things that are pointing toward to the company pursuing an earlier conclusion.
- The objective of phase 2 was to get 2mtCuEq
- It is, and has always been the project objective to see what AA want to do once 2mt is reached.
- CB has spent since turn of the year telling the market that is the intent.
- CB mentioned October when expects or is hopefull of a recovery in global copper prices. What other relevance for a comment like this could there be?
- To ask shareholders just to have a bit more patience is certainly not indicative of going into a 3rd phase and a further 6-9 months wait.
- If they intend to hold back Q results for strategic release, why would that be necessary at all if the project is going into a further drilling campaign. Of course the first thing that will come to mind is for a further placement, but as we are led to believe, exploration will be paid for out of income. That is the whole point of growing the company to finally be self funding.
- If we do ‘not’ see any news of any significance today, which to me the idea to release something just to appease impatient shareholders in the hope of fending off some tough questions at AGM, when there is a more important near end game to consider so why waste good news. And furthermore, why hold it back now if it’s expected to be a further 6-9 months wait.
- There are the also RNS excerpt that states the project will be positioned in the global market
Ok there is some supposition there, but all these together paints a positive picture, if we try to second guess what the company are trying to do and more importantly why.
AFP's RNS is a nothing rns. It's 2 holes of xrf reading saying there is copper anomalies.
Really scampi g the barrell for that rns.
I'd rather we didn't get one than one like that.
It is shame the AGM isn't being live streamed. Thanks in advance to fellow investors who are not only attending to ask questions but willing to take the time to share the answers on this board. You are appreciated.
I know the Q2 results are fairly small in the grand scheme of things but it highlights company culture. They only release news dependent on its quality and whether it can hide or be hidden by something else. This is a poor way to do business.
If we dont get Q2 results this morning then another question to ask at the AGM would be - when are we going to get Q2 results !
By end of this week it will be about 2 months since period ended.
Its good our AGM is last. I think CB will have quite a few questions to answer from Xtract shareholders today :)
Lets hope by end of today we all have a bit more / a lot more, clarity on many issues.
No Rns unlike another Colin Bird company African Pioneer who have their AGM today but have issued a very positive announcement
Colin will have a busy day today !
Thanks Andy..... keeping it front and centre is spot on.
Btw.... there could also be an RNS out on the same day as the agm.... not unheard of...
And XTR seem to like the early afternoon releases too.
GLA and here's to there being lots to discuss tomorrow night
Excellent questions for AGM
Probably better, if split between two shareholders.
Here you go Joeman - I have the pleasure of being shackled to my laptop so easy to cut and paste.
Hope to see a few you tomorrow.
A list for AGM I compiled a while ago. I don't imagine I'll have to ask all of them...
Thoughts on questions for AGM
1. Bushranger what is timescale for RC model and Ascot if separate timeline. What happened to last timetable!
2. Does he still stand by comments that "it's not a 10p porphyry" eg £100million. How would he compare it to other recent sales eg Josemaria $485m
3. What are next steps and timeline for Ascot - is comparison with Cadia potential valid e.g statements made on 39 assays on 27 May "similar characteristics to the discovery of the deeper, gold-rich Ridgeway deposit, which is a part of the Cadia-Ridgeway group of porphyry deposit"
4. Details of buyback agreement eg whole of 5574 or RC only. If whole of licence then how will value be attributed to Ascot and Footrot.
5. If we declare 2MT then what happens ? Try and assess confidence about achieving 2MT and from just RC. What if we are at 1.9MT ? What are the steps and timelines to trigger decision to mine, how would funding issue be addressed?
6. XTR has several exploration options - what is priority ? Either Manica, Eureka, EL5574 or other Oz licences? How would income from Manica be allocated to exploration ?
7. Timescale and potential for revenue at Eureka ?
8. Quarterly gold reports not fit for purpose and don't reconcile for last 2 years to annual reports. Need segregation of different hard rock agreements, closing gold stock and transparency on how operating costs at Fairbride are determined and reported.
9. Need to improve comms and investor info eg Kalengwa still on website etc....
10. Focus on what they already have and not go after new projects
Finally back on internet after four days camping in the forest. Will see everyone at AGM tomorrow. I am not going to comment on the usual anti-Colin rhetoric that seems to accompany any SP fall (but never any SP rise). However, I am confident that Colin is going to do whatever is best for shareholders, if for no other reason than he has 46m shares and options of his own.
Very average sells and buys today. This means any news is being held close to the chest. Bad news travels fast. Todays trades don't reflect this, therefore i can only assume some decent news coming out tomorrow. Positive thoughtpositve results.
Might be an idea to repost Andys questions (I just tried and failed on my phone).
My guess is Colin will be reading the chatboards in the lead up to the agm.... and if he knows the questions ahead of time he will give a fuller answer.
They are good questions
Hi JS
The board will do what ever is strategically necessary to maximise the impact when the time is right. Colin can be as frank, honest sincere and open as he normally does, but I was under the impression many don’t believe what he says anyway, so what are you actually expecting him to divulge that is not going to be dismissed in a few days as over optimism ;-)
The questions that Andmillsy has compiled to ask at agm (post 17aug @08.30) are sensible and would be good to get some feedback on those from the company.
Are you suggesting shareholders should turn up at the AGM tomorrow and just sit there winking up at the BoD and hoping they'll wink back? Absolute nonsense that good news is being kept back. If anything bad news is being held back. CB does not hold back good news.
You can see why Colin is said to be not keen on releasing ‘good’ news into the market at this time.
Unless it can be followed up with a stream of good news to sustain any initial rerate it’s inevitably going to get dragged back down as we have seen on many occasion. You can’t blame the BOD.
At a corporate level the low MC really isn’t so much a concern. With the potential of existing assets being far in excess in value of currently what the market values it at. The agreement in place is a good deterrent against any corporate actions. I’m certain once there is some sustained growth in the sector and the market in general, there will be a news drive that may also include the Q results to coincide when resource modelling with tonnages is ready to be released potentially from within a couple of months time. I think only then will it be safe to potentially be free from the agreement when a firm value can be placed on the company that will see maybe some institutional, or more wealthier investors arrive, particularly so if AA are not interested in moving into NSW, the company will not be so vulnerable.
From RNS
>> Upon the return of all remaining assay results from the Phase Two Drilling Programme at Racecourse and Ascot, a new resource model for both prospects will be developed.
There will be a separate RC model with tonnages that could be released sooner, along with new conceptual pit but I think it’s fairly clear of their intent to evaluate what to do next from this RNS and some other comments in RNS’s that will be once ‘all’ the data is input when last of Ascot assays are finite.
Yep, nothing changes on AIM, a few poxy trades and down it goes.
F100
Its a casino and the house always wins
How is it that the day before news is announced if the share price is down then the news is usually bad but on the other hand if the news is good then so is the price. I just wish I could tap into this information the day before is there a crystal ball involved.
Lucky. After your Friday evening post, I had another listen to the following podcast over the weekend.
https://audioboom.com/posts/8030424-sunday-roast-copper-gold-special-with-shaun-day-colin-bird-martyn-churchouse-and-professor-ri
It is long but listening again was interesting. Ignoring the timelines which we have discussed many times, Colin feels the copper price won't go below $7500 and the copper market will pick up in 2024 (was already high at the time of this podcast in Feb 2022). Given the recent drop in copper prices during the summer I do wonder whether they are playing for time.
I also noted later on in the video that Colin isn't that fussed by gold. That might explain what appears to me as a lack of interest in Manica. Personally I feel that is a mistake in the current market but his decision.
Already voted as i wont be able to attend. Due to not needing to raise any more. Is skill set isnt required. Therefore no need for him to be draining cash from the business so I voted out.
Lucky,
I can see your point. However, IF there was another party interested then I would expect them to be planning to mine the deposit. Another party may not want to show their hand while AA have first right of refusal but a decision to mine must somehow allow for the fact that it may be by another party?