Member Info for adamsmithfreethi

A long long time ago when I did my banking exams I learnt all about the procedures for winding companies up. The bad news is that there is a strict order of preference as to who gets paid with us shareholders at the bottom. The good news is that all the people above us get paid exactly what they are owed and nothing more. Shareholders get the balance left at the end. Any dodgy practices on behalf of debt holders e.g. debt for equity swaps have to be agreed by shareholders. In short we can cut of their noses to spit our faces if they play rough.
Add to this ****tail the fact that each day the company adds more gold to its stockpile but it cannot pay any money to any body outside the Rouble system and you have a nice little puzzle.
Not one in which shareholders necessarily come out with nothing...

Kaduval - I'm absolutely not getting a you. Together with others such as Jane we've tried our best but come up against a wall of apathy, scepticism and naivety. To date we've simply not had the number (10%+) to force a resolution on the Board.

I've said it before and I'll say it again. These guys couldn't mine their way out of a paper bag.
Anybody thinking they'll do better with Dugba/Kouroussa is deluding themselves. Dan et al will drag out out credulity on these two assets until all hope is lost pocketing their salaries along the way. There interests are NOT aligned with ours. They are in the driving seat and will steer money to themselves not us.
As a group of shareholders we are equally useless since we passively sit there and take it. Mugs all. I for one will vote against every single AGM resolution. As an individual that is all I can do. As a group we should put forward an independent non exec director for election who will try and begin the process of finding new management. If we don't force change we cannot expect anybody else to do it for us. MMs just sell out.
We will deserve our fate.

Yes it's all jolly jolly right now but there's absolutely no hard news to go on. Maybe there's something going on in Russia, maybe MM have been playing a game and are now spent. Maybe it's a fat finger and everybody jumped in mistakenly taking it to be a genuine market signal.
I suggest a period of moderation and no triumphalism because we could be back where we were yesterday tomorrow.
It's a phycological marathon not an egotistical sprint

Good managers also are prepared to stand up and take the flak when times are bad.
Will Mike submit to a video interrogation for Q1 performance I wonder?

Hang on a mo. The RNS states the a/cs will be out Mid May....?

I think it's important to get all aspects of investing right. I know it sounds a bit panglossian but getting the top level right - allocation, the middling level - diversification and the bottom level - individual stock selection maximises your chances of turning a profit.
For example I briefly looked over ECR which was mentioned below. It seems they have been scratching around for ages in the Aussie desert without anything to show for it. It just seems to be one empty litany of promises with drills results that are frankly pathetic.
Sure Australia is safe and Mali is not but if the choice is between a certain but safe failure and an uncertain but possible success I know which one I'd choose.

Just bought £10k. I've read about this company whilst researching keeping up with my various goldies including SHG,CEY & HUM. OK yes they are capital intensive but their move into lab services is astute and I couldn't resist the geographically and functionally diversified nature of their business. A current PE of 5-6 on underlying operational earnings and 3 on IAS PE
Roll the dice...!

Thanks Chirpy - confirmed much of what I'm thinking. Let's hope it's a case of great minds think alike rather than fools seldom differ!
PS I also hold CNR for my sins!

You misunderstand me. I own a shedload of HUM as well as CORA. I was attracted to HUM because they have genuinely achieved a strategic success in having 3 separate production sites. I am annoyed with them because despite running an open pit mine and enjoying record gold prices they cannot seem to extract the stuff at a profit. Things seem to happen to them that happen to no one else. Slope slippage, broken down excavators , poor grade control, the site being occupied by ne'er do wells and then subsequently flooded etc etc. In short I'm hanging on for a miracle!
Cora aren't yet producing but they look by contrast a professional bunch.

Yes I've got a lot of holdings in junior goldies and boy have they been out of fashion. However, I've noted a definite rotation in the past few days and this is probably the only stock that hasn't moved significantly. At least that I can detect. Probably because it is not earning anything right now. However, each day passes makes the day when the first gold is poured closer.
Consequently, topped up...

I appreciate there is a tremendous amount of hypocrisy around the whole sanctions issue. I still think it is better for investors of the stock to keep it modest. Shouting from the rooftops just makes one a target. Literally and metaphorically.
Quite frankly I sitting on a deal of profit that dare not speak it name cos my mates might be secretly impressed but in public not so much.
I'm keeping stumm until the whole thing plays out

I'd rather not hear about any practical workaround. That would just give those that impose sanctions another target to aim for. It'll all come out in the wash when necessary payments in hard cash are made with the minimum of fuss. Boasting just makes you a target.
Ambiguity is best methinks

Two places where false rumours proliferate. War and markets. Add them together and you have the tendency for knee jerk stupidity.
The rest of the market has not moved one inch. I suggest you pay no attention to the guff below.

Been of the magic mushrooms methinks. Share prices haven't moved and you can be sure the hi frequency merchants will have been on to this by now.

London South East does a roundup email covering the largest movements in the London Stock Exchange (2 LSEs confusing I know!).
I looked yesterday to see if any of the Russia/Ukraine linked stocks were there. E.g. POG +60%. None were.
Dare I say it these are profits that dare not speak their name. I'm keeping stumm on this for a bit, not sure it will go down well in polite company. Even if you do buy everybody a drink!

Yes ditto back to evens with POG. Up on Poly & Ferrexpro. As for Evraz the casino is closed. Assuming it isn't delisted (which I don't think will happen now that Roman is besties with Volod) it will probably zoom up. But there again who am I to predict...

I'm also significantly down on this share. However, as you point out the financials are very good. It's a question of whether you go with the crowd or the tangible fundamentals. Right now it's one or the other. At some point however, small goldies will come back into favour. I hope to make my move to add more at the beginning of the upswing and am keeping a weather eye on the whole sector.
I can afford to wait...

Fair enough the passage of the share's price movement can be described precisely from the point one buys them. Yes there have been some bigger moves over say the last month (since the invasion) but still within a range and the price is still nowhere near that which it was immediately after the "special operation". It sank to around 140-160 over the last 2 weeks
Anyway you confirmed my suspicions. Animal spirits not actual concrete info is what is driving today's price

In all the comments below I can't detect why this share has suddenly gone up after weeks of decline/stasis. Is it just animal spirits or is there something more concrete brewing?