Member Info for Banter

Just looked at the 10 year chart here and it looks like a large (W) Double bottom formation taking place, any thoughts from a chartist perspective?

can you elaborate on that?

Better go long the VIX then, surely makes sense, little downside, June is going to be super volatile with brexit looming

Cost of production is around $600 and I think will be less in 2nd quarter due to decrease in amount of cyanide ammonia etc

Good start to the day on low volumes

Geologist in Azerbaijan I believe

Mahmoud something, I cannot say for certain, he was a very knowledgable person with nothing to gain from our conversation, I suspect the rise today is in preparation of their presentation with proactive investors in London tomorrow night, nothing to do with the conversation I had

With hindsight eh, perhaps bring your average down if you can

I spoke to a guy in Baku last month, he said 240p in 3years, I thought he was kidding but there's big things coming apparently, they have always said they were heading to be a mid tier producer. When they first came to London for a listing they raised their initial £75m at 75p from memory. Time will tell

110p within 12 months is my prediction

Who says I haven't been buying? Just because I've been quiet doesn't mean I haven't bought, I've got a nice holding here thanks and like you, I won't be selling any until these are in the pounds, not pennies, good things on the horizon here

Totally agree with you, I will hold what I have but will buy on any weakness, been waiting on available funds unfortunately, I'm sure there will be some down days to follow, hopefully some sellers will appear later

Was going to buy another 400k of the these today but the price moved 😬

Back to 3p soon

Lower costs going forward, higher grade underground development at gedebek coming on stream, this could turn around significantly in the next 12 months

now cleared maybe?? Or more to come?

PSA Works well for both parties. Plenty of companies operating in Azerbaijan have this arrangement. To some extent it safe guards your assets with full support and backing from the government and should give you a better sense of security when investing. Also the Banks appear to like this arrangement which is also big plus with most investors, except the odd person that I guess doesn't quite understand the benefits.

Personally I suspect Khagani Bashirov has probably offloaded further shares. He's not even on the board or involved in the company as far as I'm aware and been selling for some time. As with regards to production costs, contact the company or await the next quarterly update.

Production costs are currently running @$700 and should return to around $550 after April providing no further unforeseen change in ore body. This was before the devaluation of the currency so these costs may reduce further. DYOR

This is ludicrous, production costs will almost certainly have returned to at least $700 and I suspect costs will continue to fall over the next few months. 1year of solid production with lower production cost of circa $500 will see most of the current debt get paid off pretty quickly. If they hit higher grades like they have before and increase production, they could be debt free in 18-24months. At these levels filling my boots.