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sighhh
Copper price falling explains much of the problem here imv.
I agree Oliversydney, this looked like the best thing since sliced bread with all the positivity coming out of the interviews from Colin and now we are dropping again under 4p, so I hope he does another Zak interview and stops the rot. I won`t be selling now but certainly not enjoying the ride at present.
Why all the biggish sells ?
RNS coming ?
Under 4p now
As a long term holder I had such high hopes for this share but must admit those regular interviews with Zak Mir in which Colin was so euphoric about everything seemed rather over the top
I was not impressed by announcing the annual accounts after hours and the chairman's report was nowhere as positive as all the interviews so not surprised about the sell off
I am not selling as still sitting on losses but only hope Colin will still deliver
I didn't think I'd ever be underwater here.....
Better Call Zak..........
Got it now cheers Andy
The 2020 revenue figure was surprisingly high when announced last year and didn't reconcile with 2020 quarterly RNS statements.
"The 2020 financial statement revenue figure is £1,725,000 and all revenue is shown in the segmentation analysis on page 63 as coming from Mozambique alluvial gold sales.
The Q4 2020 alluvial RNS published on 26 Mar 2021 provides quarterly analysis of the revenue for the year end 31 Dec 2020. Total attributable revenue for the 4 quarters is $1,222,350 approximately £962k"
I emailed the company quite some time ago about it and was informed that 2020 included sales of gold on behalf of 3rd parties.
It's a pity the commentary on the 2021 statement doesn't make this clearer.
Howezap inventory is actually £177k note this is valued at cost and not at saleable value. Unfortunately ounces aren't disclosed. Inventory ounces should imho be included in quarterly RNS.
Gold inventories have increased to 1.77m base value, which is more then the previous year total revenue from gold sales.
Explains the reduced revenue figure this year!
AGM looking to be confirmed in July.
I don’t share Lucky’s angst over the full results RNS.
For several months now I’ve been saying they don’t know what they’ve got at Ascot - they’ve drilled just eight holes and only found modest amounts of copper - though the geophysics are very encouraging. It’s entirely reasonable to surmise that there may be more deep-lying copper or gold. However right now I’m ascribing no value to Ascot but hope to be pleasantly surprised.
Racecourse - no new news today, all as expected. I don’t think we can read anything into the “global” comment - they’re simply saying it’ll be clear how RC stacks up against other deposits/porphyries around the world once the modelling is complete.
I suspect CB has simply poorly explained why Kalengwa is a no-go - perhaps it has proven to be less economic than hoped for, to the extent that the lack of provision of power is the straw that breaks the camel’s back and means the overall project doesn’t meet threshold return on capital targets. It’s disappointing it hasn’t worked out but there were no guarantees.
I think the news that no placing is imminently required is the biggest take-away from today.
Thanks howzap, maybe I should try understand the terminology of the words being used first. (In mining terms)
For the investors here trying to understand the scepticism, frustration and anger on my part...... go and read all the positive RNS comments surrounding the kelengwa accusation.
Signing off!
One last post and I'll turn off!
MINE HOUND, the reason there is no need for more funds is the fact we already raised millions at the cost of dilution to the existing shareholders. Now..... if you take out bushranger and the dilution, the SP should have been somewhere in the region of 9/10p once fairbride is in full production.
Lucky
Once identified, is generally referred to a porphyry, but if proven by drilling that it is mineralised and can be extracted if has economic value, then generally, referred to as a deposit or a porphyry type deposit or a ‘named’ deposit.
Was it the deep system suspected below ascot that was referred to as a semi-porphyry. Now being referred to as maybe being true.
Theiceberg did explain the geological reasoning behind the term so please check.
Good luck with the smoking cold turkey, did it 15 years ago, it gets better pretty quickly.
Tdouble, thank you. I will step away for today. I will have to check the SP reaction tomorrow.
I am quiting smoking at the moment too lol that's probably not helping.
How about a possible gold mine sitting on top of a(nother) possible copper mine ?
These results have largely answered all the questions that have been discussed at length today, including mine.
Tick up in the morning I think.
I bet CB chuckled at all the speculation today, knowing the RNS would drop after hours.
If this you when relaxed.....
Enjoy your holiday, step away from them forums and looking at SP
Okay..... maybe it wasn't CB who did the Due diligence. We can ask at the annual meeting who did and are they still employed!
ascot, personally i hope we>re going to drill the bollards out of it.
ascot, personally i hope we
Well comparing our success rates has nothing to do with it but he has over 50 years on me, so he should have a lot more than me. If you want to compare my success rate his then can you kindly ask him how much he was worth in his early thirties.
Sure you are right but there is clearly no Placing on the horizon. Perhaps a Partner in the wings
Actually howzap, we have been lead to believe ascot is a porphyry. Now I read..... we need much more drilling to discover the TRUE! porphyry that MIGHT! Be underneath!!!!
This statement says to me that they do not know what they have and its going to take a substantial amount of funds to prove it up.
For God's sake man - look at his record over 30 years. How does his success rate compare to yours ?
The one ( and only) concession I will make is CB is CEO or Chairman of too many listed entities. For his age he is remarkable but I do hope there is a succession plan??
I'm actually having a nice day, I'm on holiday in paris.
Just relaxing with a cold beer. Inside though as the weather isn't nice today. Was lovely yesterday though.