Member Info for artrader

I only ever use 'At Best' when I'm desperate as it generally costs you more.
Its 'Quote and Deal' every time for me

Historically production in Q3 doesn’t seem to be down and quite the opposite. I’ve also looked at the basket price based on average prices through March and it’s looking to me like $3,800
I’ve put my TSG lot into SLP as it’s looking to be another sure winner.

Duncan do you know something that we don’t know?

Nice one Nice Two Great JORCs today
H for hysterical

75 more buying days until the AGM for the buy-back and they have another 797,543 to buy or not to buy? They have up until 30th June to buy-back or no longer buy any more shares and with $2.7million in cash burning a hole in their pocket , will they decide on paying a dividend or complete the share buy back?
Don't be a fool and wait until April 1st as this is going to be no joking matter..... but I'm sure you will be laughing all the way to the bank imho (h=humble)

Yesterday’s rise without any buy back?
£1.50 come what May
They were on a roll in Q4 2020 with Vein 25, record quarterly gold doré production of 15,217 oz. up 31.5% QoQ (Q3 2020: 11,570 oz.)
· Highest quarterly gold grade of 10.3 g/t representing an increase of 38.7% QoQ (Q3 2020: 7.4 g/t)
· December 2020 recorded an average gold grade of 11.05 g/t
Increasing grades as they moved forward 11.05 g/t is fantastic anything over 5g/t is regarded as High Grade.
DYOR its all good and they have full permitting approvals

They have already achieved last years 1st quarter revenue after only 2 months 5,122oz @$1819 = $9.3m and that was working at the lower yield.
We haven't had guidance yet but I'm assuming with Vein 25 opened it should be in the region of 50-60k oz but difficult to guess the Revenue just on quantity. I always look at the profit and not how much gold they dig out as 1st quarter 2020 they produced 6k oz for $9.3m.
Vein 25 did have a yield in the 4th Quarter 2020 of 10.3g/t and proceed 15,217oz

MrBond
Eric is taking legal action to recover the VAT owed but meanwhile is being subjected to a Tax Investigation I would think that it would be odd if the Govt bought a 16% share whilst there was a tax investigation.
When Eric cancelled the proposed IPO on the Dar es salaam stock exchange to fund Singida I doubt if that went down well, he offered Tanzania a chance to become involved and then cancelled.
I think if he wants to continue in Tanz then he has to employ a Diplomat like Charles Santos of Aminex or borrow him after all Aminex got their licence after years of waiting.
The fact that Barrick has returned to Tanzania after their Tax Investigations and fines says a lot, there must be a fortune to be made even if one has to share a bit.

I can't see any history of this and as the Company have been given the go ahead to open I don't expect you need to fear. They would have been in constant discussion with the RTN during their visits and have probably already been informed of what actions they need to take. Quote from todays RNS "Ahead of the RTN investigation recommendations a preventive action plan is being devised and implemented to mitigate future risk of this occurrence, including modification of ground support protocols, new ground support applications, site inspection, staff training and development supported by geotechnical software and additional underground equipment." they further mentioned "Once the investigations are completed and the recommendations known, the Company will publish production and dividend guidance for FY2021. This is expected to be on or around the end of March 2021."

The Tanz government want to own 16% of mining companies and increase royalties.
This is from 2017
https://www.reuters.com/article/us-tanzania-mining-idUSKBN19V23P

They have already reached Q1 20 revenue of $9m and there’s another month which should include a much higher yield albeit a lower POG. I’m expecting guidance nearer 60k oz for the year.

Now if SHG get their VAT refund and SLP get bought by Elon and ...... no that’s just a dream

Such a trustworthy company they only bought back 27,000 shares before releasing this sp booming news.

Most shares are not held in public hands and I doubt that the large investors are not worried about us but they too have to answer to their investors. It seems clear that the company by buying back shares is supporting the ii’s
Who are not selling as they know what is underground and have he time to wait. It seems most of us want Vein25 and they want if now... it’s the old adage The rich will take from the impatient...

Sorry Noel I missed that one please repeat the message about the NN Website and I'll give you my expert opinion
x

Relax it's one of Noel Gallaghers' best quotes "He's like a man with a fork in a world of soup"
meanwhile yesterdays excellent advice from NoelShempsky to ISAPENSION (CNR) 19:49
"The know-nothing duffer shouldn't be in shares if he gets hurt so easily."
good advice

Basically, they forgot to deduct exceptional costs on the p&L account. (or add them, adding a negative to me means a deduction to the world of high finance they deduct a negative) whoever invented EBITDA and adjusted EBTIDA expected everyone to have a large stock of headache tablets nearby.
To their credit the answer was instant but they may look at this again, Stewart did say it was uncharacteristic of them.
On the question of a claim against the Company on environmental issues it appears that Natural Resources, RosPrirodNadzor were seeking further payments for the disposal of 'Extra" waste materials dating back to 2016 the claim was disputed by and the courts decided in favour of TSG in October 2019. The NRP made an appeal to the courts decision and to avoid continuance they reached a settlement.

"He's like aa boy with a fork in a world of soup."

Reply
“We split out the exceptional costs separately on the face of the P&L but when we calculated EBITDA we used an old formula which assumed that exceptionals were included within admin expenses, so we did not deduct them in the EBITDA calcs. We then adjusted EBITDA by adding the exceptionals back. Exceptional costs shouldn’t have been deducted from EBITDA. From adjusted EBITDA those costs were then deducted twice”

I sent an email
Dear Sirs
I note today’s RNS mentions that exceptional expenses were deducted twice, if this is the case then wouldn’t the EBITDA be $2m higher?”
“ Upon further internal review, it has been identified that due to exceptional expenses being deducted twice, the EBITDA figures were erroneously reported. The correct figures are EBITDA of $11.3m and Adjusted EBITDA of $13.4m. This error is standalone and all other details in the 2020 Interim Results remain unchanged.”

Many thanks if you would kindly explain.
Kind Regards