The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
The new year is probably right. Get it done before the update at the end of the month.
"Sentiment will be much improved if Kourrousa production figures early next year are as expected along with a leaner balance sheet."
I agree with this. I hate the thought of having to rely on what Betts says, but this is very much reality, as much as things currently look bleak. Only about 6 weeks to the update. Are we at the bottom or top of the roller coster ride, is the question?
"so downside floored at around 2020p at the expense of not gaining if price rises above 2200p ... a very sensible strategy which i suspect cig are imposing on db to protect their sizable investment"
that would be a great deal, in my mind. it's well above the *** packet figures we've all talked about, which iirc were 1800s for our forward guesstimations?
that gives us a fair bit of leeway, i'd say and can even allow for betts getting it wrong again, as per.
Jammin, it's not as desperate as you make it sound, imo.
Don't forget we have bought another mine onstream too. Granted, it doesn't look like it's doing anything just yet, but it will.
And I know things look bleak at the minute, but there's still a reasonable expectation that things will be a lot better next year. I'm not rushing to sell, put it that way.
"Why would anyone let you lock in past prices for something?"
Jammin, you're working on the price of something that doesn't fall. Gold does, majorly at times.
I'll bet the price is lower than 2000. It'll all come out in the update, but they haven't even done it yet, so it could well be higher than I think.
"The Group intends to enter into a near term revenue protection strategy through a gold price cost collar over a portion of the Company's production for the first three quarters of FY-2024 in the order of c.60,000 ounces"
I'm still trying to work out why 60k and why only the first 3 quarters? They must have some sort of expectations. Why not over the full year?
Agreed, Bonker, I'd take this at 10. Unfortunately I'm currently 10% down, but not overly worried. I am however concerned about where it might go in the very short term.
Buy now or wait for the outcome of the update? Decisions, decisions.
Oh, stonking win last night btw. I still haven't got my head round it!
Surely when you hedge, any company willing to take that option will work to the past and not the future?
Spot may well be above 2000, but over the last year it has been lower, with that average being as I suggested, low 1900's
If they manage to get that, I think they'll have done okay. As much as we might think it's going higher, any taker has to cover his a*se too.
It's still $400 dollars an oz profit. Guaranteed.
2.2k would be entirely different, agreed.
The earlier comment about having to drill at KOU, because they're not hitting what they expected doesn't sound so daft, thinking about it. Nothing surprises me with this company now.
I'm still weighing this up, but I have a couple of thoughts.
We must have been desperate for money.
There is no way they will get a hedge/collar at $2000. I'd guess it's more likely to be in the early 1900s, which wouldn't be good, but it is guaranteed. I'm not sure what to think the relevance of the 60k ozs is yet. Whatever, I have a sneaky feeling this was already agreed, as part of the last funding.
There is absolutely no need to rush anything at Dugbe. As for them struggling with a DFS (Bonker), SOLG are working on PFS3, no doubt because they can't make the numbers work either. I personally think this is a smokescreen. Likewise, with taking control over Pasafino, there was no need and it could have waited.
I notice we're now talking about reaching full production at Kou in "early FY-2024" as opposed to "FY-2024", which implied to me at least that it was the start of 2024. I agree that we're clearly having major problems there.
And I wonder if those problems have made the debt repayment look very unlikely? What better way for CIG to alleviate any worries than taking a big fat chunk of the company on the cheap.
Everything smells of CIG completely running the show now, with Dan as their puppet.
Like I said pure desperation methinks.
All that said, the asset is still there. As Jammin says, we just get less of the pie.
I didn't want to say anything, but I sold my missus' ISA holding last week and a few of mine too. I'm now looking to buy some back for her and bring my average down a touch. Still weighing it all up though first, as I can see the next update being decidedly bleak.
I also have this nagging feeling that there's something really wrong with this deal all round.
"c.US$2 million of the proceeds will be dedicated to progressing the Dugbe Gold Project in Liberia, bringing this highly valuable asset closer to production."
I think my suggestion that Dan wants to build this wasn't that far off the mark, after all.
I'm really not sure to think about this, but it smacks of us being desperate for money. Again and so soon after the last big bag of dough coming in.
210 million shares being issued, Jesus :-(
I too would like more details about that "collar", because it sounds like someone's going to make a fortune out of that.
I need to mull this over while I'm at the dentist's.
Not happy at first glance.
Artisan mining?
I'm okay with that. Stick it to the man, especially if it's on their doorstep, imo.
But enough to affect the numbers? That doesn't sound quite right to me.
You might get a few ounces, but surely you need to move tons to get anything significant?
Am I confusing things and getting it wrong here?
Am I the only one who missed this at the time? I don't recall anyone mentioning it on here;
https://www.itv.com/presscentre/media-releases/itvx-officially-hits-two-billion-streams
The Italian, fair comment.
Let me re-word that then.
There is nothing happening that is moving the dial, either way.
It's tedious and basically the same as nothing happening at all.
You quite rightly mention the stuff that has been RNS'd and is going on behind the scenes.
The problem is, the market doesn't give a stuff, which is why the SP continues to fall. It will continue to do so too, until something happns that moves the dial.
My concern now is that the AGM doesn't go well and the board has nothing to say apart from the same rubbish we've heard for ages. If that happens, this will continue to fall.
Either a monetisation event occurs or it's going to be a case of how low will investors be willing to let it fall before serious protestations begin?
"And this board is right on one thing...the SP is going down. Now sub 8p, it's just set itself up for further falls."
Yep, that's undeniable. Because of the inertia, there is nothing whatsoever to stop this from falling. I said it weeks ago and it's true. Even nice shiny rock samples don't help.
I added yesterday, but said I thought I might have gone too early. I see nothing to change that view.
I'm waiting to top up my missus' ISA holding here, but she's already about 35% down and I don't want to add to that, hence I'm waiting.
People are fed up and are arguing with each other because nothing is happening and there's just nothing to talk about here.
"I am very concerned by the current valuations of many popular US stocks. A very large portion of the total market cap of the S&P 500 is concentrated in just a small handful of stocks. Even if they are good quality companies, valuation always matters at the end of the day. And financial history proves this."
That's exactly what has stopped me buying US or Tech stuff. So massively overvalued, imo.
Which is why Shares magazine last week suggested an S&P equal weight ETF might be a good idea. The idea is if the usual top 10 fall back, the lesser ones come into play and the fund will outperform compared to an S&P tracker. I'd link to the article, but it's in the magazine. It says research suggests that the more concentrated the top end is, the more it outperforms, because the top 10 are currently 31% weight, but only 2% in an equal weighting.
I'm considering it myself, because it seems a much better way to get diversity in the US market. The relevant tickers are EWSP and XDWE if the idea appeals and you want to research.
Roxi, I added yesterday, to bring my average down to sub 10p.
Just sitting, waiting for a sale, same as I no doubt will be this time next year.
Then again, a sale is imminent and just round the corner, so I'm constantly told, Haha.
Well, here's what was said in the half year report;
" Commitment to dividend growth in sterling terms and our long-term 65% dividend pay-out ratio"