Member Info for adamsmithfreethi

Did your calculations include exploration costs budgeted at £10m? As per the Vox interview Dan confirmed they are not in AISC figures. If you did not include them then knock of £2.5m per quarter...

Chaps, chaps. Rather than hurling around the vitriol this is at least one argument that can be resolved by good old fashioned facts. At the end of Q4 2020 the company stated it had net cash of $1.5m represented approx by cash 11m gold 4m and debt of 13m.
Let's see what happens quarter by quarter. ...

Tiger - it would be good to see some IRR figures on KEUG. With underground mines AISICs are inevitably higher and higher grades are correspondingly required!
Also as per the interview good to have it confirmed the drilling costs are not included in AISIC. That means add another $100 per oz for a $10m spend!

I've noticed your posts have dropped off for SHG and you seem to have upped your contribution here.

Does that mean you've dipped your toe in?

Stockable - also worth noting that Tharisa is looking at ZBW too for expansion - a vote of confidence? I've got CMCL and may well top up so yes I'd recommend them

t42trader - TSG eh?
Great selection...
Bad timing...
Going, going gone!
To the oligarchs

I agree with pretty much all the sentiments here but also have a question. Given this seems to be a complete stitch up and clearly leverage is being applied behind the scenes by greedy oligarchs looking at excellent gold yields and increasing reserves just after we've put in the hard work presumably non Russian shareholders don't have the votes to stop it?
Also why not wait for the £1.18 cash to come through. Selling now just results in a lower attained price minus commissions?

"Expected" here is the weasel word. I believe expected relates to Pasofino's expectations. In which case what was in their minds before the results were in?
No one knows since we're not mind readers and Pasofino didn't care to share the finer details of their models. Why would they?
So we are left with good old fashioned intuition (no there's no algorithm for that!) and for what its worth mine is that this is broadly in line with what they'd expected.
Not as much as they'd hoped....not a little as they'd feared!

The Soviet (sorry Russian) regulators have still to pronounce and they will pay not one jot of attention to the company's highed experts so I'm still expecting some form of shakedown. Not least because the company is doing so well and has the money to pay for it!!!

Clear as mud. I thought I was getting it then the next sentence confused me again. Showing an example wrong versus right might have helped.
Ho hum...

Let us know if you do get a response please

Yes - I agree - that struck me too. Somebody else can ask that one from the company. I've got my hands full with HUM and trying to extract some meaningful info out of them right now...

https://investegate.co.uk/trans-siberian-gold--tsg-/rns/interim-results/202009290700053689A/
5. Exceptional expenses

The exceptional expenses relate entirely to the claim from the Federal Service for Supervision of Use of Natural Resources, RosPrirodNadzor ('RPN') over the payments for disposal of waste materials following a site inspection in 2016. The claim was disputed by management and was brought before the first instance court who decided in TZ's favour on 4 October 2019. Subsequently, RPN appealed the decision and the claim settlement in the amount of $1,987,000 was agreed in August 2020.

Sometime later if that's ok ...?

Currently over fifty with an aggregate holding of around 6.5%. Perhaps less gingery than peppery at the moment...

As far as the accounts are concerned I wouldn't hold your breath. Last year they came out in June.
The informal HUM ginger group are currently trying to extract from meaningful resource data from a recent presentation that purports to come from pre-existing information but in reality seems to make no sense at all.
Whatever the merits on fundamentals HUM versus SHG the latter are streets ahead when it comes to communication. And I say that being a holder of HUM not SHG...

It's not the EBITDA error although that's not trivial. No it's the aftermath of the accident in vein 25. The Russians are past masters at extracting rent from these situations. If the company is at fault then obviously a proportionate fine is in order. However, I note from previous RNS resulting from an inspection of the company's operations a large bill was presented to the company due to inadequate clean-up. The company disputed this put still paid up a sizeable amount in the end.
The sooner we know what the consequences are the for the company the better....

I think there is a danger that the RNS is getting mixed up with the extreme unpopularity of small goldies. When I look at accounts (I do this for a living) I generally extract them from the main IAS tables. I don't rely on standalone figure given out in the commentary so for me this is a non issue. If, on the other hand, you did rely on the standalone figures then that's different for you!
All I would say is that it is better for the company to fez up and admit an error. Obviously if a 3rd party has pointed out the error to them that's not so brave. One the other hand if they discovered the error themselves and then published the information that is indeed to their credit!
By all means keep up the negative vibes. Happy to top up below 90....

Sometimes is pays to be late to the party...
Just bought in the open market £10k for £0.7333.
Mind you I'm down on my other two purchases. Boy are small goldies unpopular right now!

As the risk of generalising - Turkey is the land of the conglomerate whose main competitive advantage is privileged access to the centre of power when it comes to such things as obtaining building permits (Taksim Square?) and mining licenses, so in that sense I'm not surprised by what you say.
2 sets of rent seekers doing a deal. Well matched I'd say....