Member Info for adamsmithfreethi

It was a bit strange I probably misinterpreted what was going on but I don't think there was any triumphalism in the atmosphere even in disguised form. The previous management were still blaming the various contractors used a lack of money for investment and the fact that for the most part they were over exposed to one mine.

The new management were indeed keeping their cards very close to their chest but again they didn't strike me as rubbing their hands with glee at getting a prime asset cheap. Just an acceptance that they had a big task ahead of them.

Oh and the government in Mali is proving impossible to deal with.

I was the only shareholder present.

No chairs were thrown....

Slim - you're bang on there! I came across him whilst being an (ill fated) shareholder of HUM. I can't recall exactly what but I think he was chairman or CEO of Pasifino HUM's JV partner on Dugbe at the time.

Clearly a man with many fingers in many pies!

I think somewhere in the offer document it stated that CVRs are non tradeable

I've been on to ii too and my main pre-occupation is SIPPs but I thought they said in passing that if you hold CNR shares in an ISA and you have a trading account they would put the DVRs in the trading account.

Worth checking...

Bluebird. I had that exact same message on my ii voting page

That they are recommending no. Hopefully this will help our cause....

I've been trying to interest questor since December and seemed to have got nowhere. I then discovered that my interlocutor had left the telegraph so I resent all that I had previously sent over the weekend.

They've obviously left out all the gory bits but between the lines I interpret

Just a thought but I believe that there are some exec options expiring in May currently underwater. Supposing management were confident that they could get a price higher than the exercise price. Presumably they would pay the excess required and take the gamble.
If they did that then that would tell us something...?
After all actions speak louder than tweets!

The power situation is SA is bad for the company. Luckily what gold the gangsters ruining the power industry will let them recover will fetch more.
Who would have thought Ghana would be the great hope. Shows what a mess SA has got themselves in!

The problem is not that Eric was useless, quite the opposite. No the problem is can the next guy be as good and keep the momentum going.
Uncertainty is always bad for the share price. They need to move fast and find a good replacement otherwise the share price will drift.........

I note the have their AGM in London. Always a good sign when they make some/all execs available to interrogation by the plebs. I'll aim to attend once the accounts are finalised and the AGM called. Note to self - enquire as to the nature of that sponsorship programme...

You make a reasonable point. Don't expect a fast recovery and other things can get in the way neutralising the good news of audited accounts finally being ready.
There's always a danger that with a large family shareholding they use the company as their personal piggy bank. However from my cursory look through RNSs and accounts plus the 30p fall in the price in the last few days, there is a lot of pessimism already built into the price.
If this comes good it will imo be a slow burn...

I've been through this process with GDP and as far as the accounts were concerned it all worked out OK. Power cuts effecting operations were a different matter and for a different Board.
In the meantime quite happy with the low PE and conservative value. With a P/E of 2.5 price of 50% NAV and seemingly large reserves and resources lasting at least 10 years with a steady if unspectacular profile of steadily increasing production looks interesting. Yes the jurisdiction is not up to Western standards but if that's your priority then try ScotGold. Ha ha

I admire your optimism Evraz. Particularly liked liked your concept of "planned gold price". However, I note that your spread of estimated went from current price circa 2000 to tops of 2400.
Any scenario planning (and that is what it is) should, for balance, have an equal price downwards i.e. at 1600.
What does you model give as valuation at a pog of £1600?
Just wondering....

I must confess I never really bought into all those that avidly watched buys/sells and from there concluded MMs skulduggery.
However, investing in and following this stock I've changed my mind. Mind you I'm not going to apply it to most stocks just ones where there is a finite horizon and a narrowed set of variables with which to play with.
CNR isn't operating has a known set of reserves and resources and the unknowns are narrowed down to how the company can get sold of to the highest bidder. There are outlines for no of interest parties, indicative bids etc.
A perfect arena for game theory for which investors need to follow the principle of theory of mind.
I've been brushing up of the essentials and yes I can see MMs having a fine old time with this one.
So my suggestion is, keep a clear head and try out work out who is trying to manipulate you to act against your interests.
Let's see....

I take your point ConMan it's just the inability of the company to lay out all the facts that should reasonably be communicated to shareholders. If they'd added this extra info in the March RNS I reckon it should have saved themselves a whole load of bother yesterday.
You could be right about a quick turnaround. However, it totally flies in the face of everything that has hitherto happened in the last 2 years!

I've re-read the RNS and yes it does lay out in detail the conditions for granting new licenses and extending existing one. However, nowhere does it say the extension to the existing license is limited. That only came out yesterday. Presumably the Board's hand was forced by the article.
Given the huge amount of fath taken to get to the point of submitting the environmental report it doesn't take a genius to work out this is likely to go beyond the Feb 2024 expiry date. And then what?
Hence the share price fall was entirely logical. Top up and your peril!

You may be right about 70-80 ($/£?)being the tops but the company and management have made it pretty clear they won't accept an offer less than say $100m.
And this was a few months back. The rise in POG will have hardened their resolves...

I've been to at least 3 EGM/AGMs and eyeballed the management. Not once did they allude to the title of the land being in dispute. Was this public knowledge before today because if so I missed something?
I've always suspected something was up what with the interminable delay in getting the environmental report through but couldn't put my finger on it. Even when I questioned the management in the meetings.
Next time I'm going to be a lot more specific and ruthless. I suggest the management stop pretending this isn't an issue and lay out in not evasive terms what the real situation is. After all they've fooled themselves having bought shares at substantially higher prices than today.
Get up and front the situation now. Don't wait for the AGM because I'm only going to get more determined in the meantime