Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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?
Thanks I'll resist being the guru for this bb. Before I go any further should you be in any doubt, investing is not easy otherwise we'd all be as rich as Vlad. Also just because I'll quote you a couple of examples that doesn't mean they imply screaming buys. They don't for reasons I'll briefly summarise. So a couple of examples
HUM - currently in Mali and soon to be Guinea. In both places they are regularly reported results of over 100 standard measurements. By that I mean the product of a drill hole with 2 elements; gold concentration and length of sample in metres. So a 10m length of core with 15 g/t = 150 standard units. Anyway they have reported loads of these. Does it mean their share price is flying? Err no. Mainly for reasons to do with the fact that they are not very good at mining.
AAZ. Now these guys do know how to mine. Last August they announced a new discovery near their existing processing plant worth around $820m at current prices. Yesterday they firmed up on that estimate reducing the value to around $450m. The reason? They got lucky (unlucky?) with the initial holes that gave their models a false signal. Still the reserves are substantial for a company worth just over $100 and what is there will be cheaper to mine. Other problem - they are next to Russia in Azerbaijan. They fact that they are allied closely to Turkey means there is zero risk of contagian Mr Market doesn't want to know. Their price has also dropped sharply
So what am I saying? The world is a complicated place and don't place excessive reliance on any one indicator. Furthermore, your fellow investors be they ii or pi frustratingly never seem to see the world the same way you see it.
You thus have two choices. Sell because you agree their view is correct and you are wrong or stick because you believe you are right and it's only a matter of time before they come round to your point of view.
Your call....
Tornadotony. I agree with you on the sector wide issue. It's quite a phenomenon! I've got shares in various miners and processors which are well managed, good reserves on x2 PE and above. Right now gold is historically high and probably won't fall much even with rates rising due to a certain Mr Putin. At the other end of the equation you have silly (sorry meme Stocks) that seem to have no basis of reasonable valuation but are still strong. Mr Market is definitely on a bender here.
Whilst I'd like your prediction to come true (I'm 30% cash 10% market short) I think your canary in the mine argument is wishful thinking. Copper, nickel, lithium etc are looking like they'll stay strong so falling prices in these items are not going to happen. It seems meme stocks and Tesla type growth stocks are impervious to any real world event.
If recession happens it'll be because the Fed miscalculates and raises interest rates too high
"I have never seen grades this good in a set of drilling results". Really ever?
Well you haven't looked very hard.
Having said that, in the context of THIS company they are good infill results and will all add incrementally to its value. Although try telling that to Mr Market. Shares marked down not up!
The same way that no one will buy gold from mines employing child miners....?
Hmmm not sure about that
Sorry to be a smart arse but it merely confirmed what I posted below and I wasn't holding myself out as being a genius either!
People really need to get a bit more geopolitically informed.
Sorry where's Azerbaijan again...?