The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
IF they get permits this is going to fly - IF
It’s a binary play at the minute while others are benefiting from the upsurge in U3O8 price.
My choice has been to take what I had left in this, put it in YCA (which is still tradunder NAV) as a holder which will benefit from rising price but is low risk and to watch this closely and await news.
I am interested in Kazprom when it floats, will wait to look at valuation.
GLA
What has happened has happened (obviously)
We wont really know where we stand until we get an update re pit wall etc and a revised guidance, I would hope that Mr Betts et al are working on that rather than parading around telling people its OK/not OK. If they have material information they are legally obliged to inform the market and if they are fire fighting investor sentiment you can be darn sure its the ii's that they are talking to and not us (but I doubt it)
Alot of what has happened is just bad luck, some is bad planning and some is bad decisions.
I called BH out at the time here but now its done and dusted and there's nothing that we can do about it, the BOD have put it to bed and I doubt you will see another mention of it from an official source so probably best to let it go now me thinks.
If you are in then personally I think there's little point moving until we get an idea of whats going on, if you aren't in it would be a risk in buying now before we know whats happening (all IMO)
If all goes well with the updates then its potentially onward and upward but this last 4 months has set us back 12-18 months on the development of the project (again IMO)
Do the BOD need to resign? No, I don't think so but they all of a sudden have a lot to prove don't they?
As for the 'missing Dan Betts' twitter post - hilarious!
Hi Stokey - I'm not making a comment on consolidation (which is unnecessary IMO) just a comment on the fact that someone posted that we needed to consolidate because we are a penny share and institutions don't take penny shares seriously.
'a lot of institutions don't take penny shares seriously'
Better get Lloyds on the phone and tell them
Energy Fuels are also stockpiling, following is an extract from their Q3 report (where they booked a loss of $10m)
'At the end of the quarter, we held about 385,000 pounds of U3O8 inventory; all U.S. origin. At today’s uranium spot price of $28.00, we could have sold this material on the spot market, and perhaps allowed the Company to realize over $10 million in revenue for the quarter. However, we made the conscious decision not to sell any of our inventory, as we believe it will be worth more in the future due to improving uranium market conditions. '
U prices reached 29 on the Ask probably due to Cameco confirming they will be buying more on the spot market next year than planned, they also stated they would be buying from the market to stockpile, maybe up to 2030!
Interesting note is that even YCA isnt reacting to the spot price increase very quickly and is still trading below NAV!
Anyway re BKY, yes I am annoyed that PA hasnt been exactly straight, I contacted the company directly a while ago and was told they still expected 2019, no mention of the missing permits. 2019 providing we get x permits which we are expecting by y date would have been a more honest answer.
For disclosure I'm out of this at the minute having sold during the last week, I think there are better opportunities elsewhere until this is resolved but GLA, I may very well be back at some point.
'I'll be straight to Ramsdons to pawn to wife's wedding ring'
Excellent, I also own shares in RFX, but wouldnt do me any good I suppose, by the time you've pawned the ring I would have sold the shares to buy more here, ho-hum
Anyone attended the conference call? Unfortunately I couldn’t
I think LL has holdings of that size :-)
'A buy to let mortgage is more of a comparison surely? '
Erm, surely no mortgage is anywhere near any kind of comparison, really, comparing the st2 debt to a mortgage is utterly ridiculous, I honestly don't know why people bother engaging with such nonsense (not you SXX-Pound-Party)
Next time I remortgage I might pull the old 'well someone lent SXX £3bn and all they had was a hole in the ground' card and see how far it gets me.
Bonjour Tiger et al.
Needed to find a new home for my gold money due to unforeseen circumstances elsewhere so here I am (again to be honest, was in and out on the last little rise up to 105)
I have a feeling they might have released the latest production guidance to soften up the price and possibly release a little bit of better news with the actual results (well that's my theory).
Either way CEY seems to have been battered down a little too much over the last few months IMO
Although if they have ordered the 2nd ball mill during the last Q that could have pushed up the trade payables and would provide some explanation to the lack of reduction / increase in net debt.
yes you could be right. Interims cover period to end of June so if they have only reduced TP's by $3.5m since then there is still $29m sitting on the balance sheet.
Strider - I don't believe they post trade payables in the quarterly update but interim results had them at 33m.
Cash burn seems high (obviously other factors have contributed to this) but net debt seems to have increased between Q2 - Q3 from 15.6m (which was stated in Q2 results) to an estimated $40m (which strangely enough wasn't stated)
So, one could infer, that the increase in net debt has been offset against the trade payables to some extent. (or at least lets hope so eh)
Interestingly enough I ran a few fag packet calculations last night based on 95k oz production at 1250 gold, added a discount for general malaise and management BH type fiascos and came out with an entry point at 16-18p.
I had a buy alert trigger at 16.5 this morning but didn't take it as hadn't really gone through the Q3 figures or got my head around the impact of yesterdays news but I think anyone who did has probably got themselves a good buy price there (famous last words) particularly if management take the bull by the horns.
Now is not the time to hide, its time to stand up and be counted.
I think 'Hummingbird has decided not to pursue the opportunity further at this time' is a close as you are going to get to fessing up Jibbo.
I doubt that it will be mentioned by the company again so time to put it to bed I think.
The 26.6’s were sells so it could have been a sell, although a buy of that size could explain the high liquidity for about 10 minutes after the RNS was released (as could the bad news/good news conspiracy theory)
Either way I’ll have my ‘it’s the 21st century, surely we can devise a system that can accurately record buys and sells’ rant rather than this inaccurate mid price nonsense
RMSully - difficult question.
Sort of depends what price we open at tomorrow IMO and whether you need the funds soon or are happy to tuck them away (and if there’s enough liquidity to sell into)
Long term I don’t think this won’t make a vast amount of difference, short/med term we are at the mercy of the markets and I couldn’t tell you what’s going to happen.
Believe what you want, I just happened to have logged on to my email when the RNS dropped and managed to sell down in 2 tranches before we broke below 26p, so I was incredibly lucky and adopted a sell first ask questions later approach, can’t see why I would lie about it.
Tiger - yes I agree with your summary re problems with pit, it will take a lot of remedial work and obviously still hampered by ground conditions and access. However the gold is still in the ground and the plant is still churning so long term I think it’s all going to be OK.
As I said I’ll have a look at the revised guidance and see where we settle (and probably see what noises BOD make) then take a view.
Yes, I'm also mostly out now (token 5,000 holding).
Bit of a black swan but always a risk when you have a single mine operation, will wait to see what the revised guidance is and then take another view. Long term it may only be a blip but certainly expect a sell of with this on top of a general discontent with some aspects of the company.
'Something's up'
Yup, and its not the news we were looking for!
Gives me even more reason to moan about the weather now, bloody rain!