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I'm telling ya, I calculated this by (Adding Numbers to a Spreadsheet / Charts / Insider Information / Reading a BB / Blind Hope / Blind Panic / Magic 8 Ball / Bob down the pub who old lady works down there told me) - *delete as appropriate*
There you go, just copy and paste, saves you all that typing
You're welcome.
' I don’t buy the confirmation bias\justification that some have citing that general market weakness is the reason for the drop. In 10 weeks the price has fallen 45% by my calculation'
Did we, by any chance, have a RNS stating CAPEX budget would be higher that fell in that 10 week period?
A very emotive post Jonesrichard, and I’m in a similar position when it comes to SXX although having bought at various points along the way my average is around 23p.
Luckily (?) I have a variety of other holdings and while SXX is suffering, everything else is also suffering which leads me to believe more macro factors are in play, which certainly isn’t to say this won’t go lower IMO.
Interesting point is things that I believe shouldn’t be affected by any macro events (specialist situations etc) are, in fact, being affected.
So while I wouldn’t presume to advise you what to do, I would certainly say evaluate your long term plans and your tolerance for risk.
GLA
Actually, the more I think about it this stinks of bull****, I’m back in for a punt a couple of p cheaper than I sold for this morning.
I think we may even be trading below cash in bank with this SP.
I agree Flundra, also why leak a story to the press that the permits will not be granted, if you have that authority why not wait and just not award the permits?
Stinks of typical Spanish political posturing to me.
That said I’m out with what I have left here for the time being at least. It also baffles me that it wasn’t suspended here along with ASX. Bizarre.
Yes Frank, I understand what you are saying about Dan’s drive etc. The trouble is people like that can end up suffering ‘hot hand’ syndrome, where they think they can never miss.
We’ll see what happens with BH but if it’s 2m down the drain then maybe it’s a small price to pay to bring our commander in chief back down to earth a little.
As you say the gold is still pouring so let’s see a little more consideration on where the cash goes.
Bond rates, US interest rates, trade war, overheated equities, hurricanes in Florida, Trump, Brexit (don’t mention the B word) take your pick. Bit of a correction but hardly a full blown bear market which a lot of people here, me included, won’t have experience of.
We are a while off production, we know the risks (I think) with this share so either ride it out or try and be clever, whatever takes your fancy I suppose (but I’m not that clever)
Nice username by the way, Futurama for the win.
S&P closed down over 3% & NASDAQ over 4%. I expect it will be hold onto your hats time tomorrow. We shall see.
He didn’t, he’s theorising.
There are a lot of big movers in a downward direction over the last few days and the big movers are higher risk stocks or stocks that look a little heavy on the valuation that have good liquidity (do we fit into that category?)
I personally think that with the bull market that we have had there is a lot of leverage at play and people (pi’s) are selling down their more liquid high risk stocks as they can’t shift the more illiquid ones.
So if you think we fit into the high risk, good liquidity, highly PI held stock bracket then this may explain things.
Either that or there’s been a leak, we get an RNS in the morning and we’re all doomed.
Nope, but with the S&P down 3% and NASDAQ down nearly 4 I wouldn’t be counting my chickens, and I think you’re missing my point (but I guess you know that?)
Well Dickyboy if that’s the reason for this drop it certainly doesn’t explain the similar size drops in pretty much all of my 20 other holdings over the last couple of days.
Not written by me before anyone starts
https://cube.investments/hummingbird-resources-hum-appears-vulnerable-to-further-weakness-im-out/
Re CEY (which I sold on th Bell this morning) and before anyone starts I know you can’t compare the 2 companies but...
With their downgrade they are only looking at producing just over 4 times the ounces that we are this year, at a higher AISC and have a valuation of over 10 times that of HUM.
That said CEY still own a good mine and have a slug of cash on the books so I’ll probably look to get back in when the dust settles
We are down on not only lack of progress on permitting but lack of progress on resource expansion IMO, surely I wasn't the only one expecting something more concrete on this front by now.<br /><br />I'm also down 30% on my stake here but luckily took around 80% out a while ago and stuck it into Energy Fuels, Denison, UEC (not so great) and A-Cap which seems to have been a sensible move.<br /><br />What irks me a little is the fact that we had a company that won an award for communication with shareholders in the run up to securing the last tranche of financing to one that now puts out the odd news snippet of locals seeing off weekend warrior protesters. <br /><br />On the plus side being one of the few London listed uranium plays is a benefit and if positive news drop then I think this will move fast so I'm taking the pain of holding what I have left with no plans to sell.<br /><br />But all a bit disappointing really.
Yes, I was also not impressed with the BH decision for all the same reasons and yes to a certain extent I think that if it is in trouble then it's not a bad thing for us, perhaps a little slap in the chops for the BOD before they get too hubristic.
On the other hand we could always lend them another 1/2 mil......
And yes, its not alot of money in the grand scheme of things but that not alot of money would have doubled our H1 profit or bought around 1/2 million shares back (or dare I say it, payed a very small dividend to us loyal shareholders)
And I wasn't too keen on the fact that they 'didn't want to announce it to the market', those pesky NONMAD's eh?
Can we get back to mining gold now? (this incident is still very much on my radar as far as HUM is concerned)
'I'd knock a couple of million off for upfront money due on the current drilling campaign (which will have billed before June 30th), but the bulk of the anomaly remains'
Also delayed payments to the mining contractor perhaps accounting for some of the concerns on here (trade payables)?
TBH I've only had a quick squiz at the interims, its very difficult to extrapolate much from these particularly with the ramp up period involved (did we break even or run at a loss during ramp up)
One thing that did jump out is the level of the depreciation and out MCAP to NAV (not that I particularly believe NAV values until you can delve into them in the final accounts).
I didnt see anything that made me drop my chips and go over them with a fine tooth comb, I'll maybe have a look in more detail at the weekend.
Good news flow from AAZ at the minute. Personally, on metrics, I think HUM is a stronger share but does go to show how piquing investor interest can pay off SP wise.
CEY and FRES also looking good value in the PM space at the minute IMO.
hi Tom, yes hadn't thought of that, whats the % threshold for a takeover?
Yes, unless we've got a large background seller this drop looks ridiculous on this volume.
I think Buzz/Lobon are essentially correct. We have now identified that the mineralisation is in selective quartz veins which will require more identification (further drilling) and more selective mining. I think we are still a way off seeing if Teke is commercial enough to be a stand alone mine.
Which brings us to my favorite part of the RNS
'In the meantime, we look forward to the forthcoming end of the rainy season in Mali and recommencing our drill programme at our Sanankoro Gold Discovery which we believe has significant large-scale potential'
With the almost immediate available upside to both CORA and HUM through firming up whats at Sana I always wondered why this didn't seem to be priority number 1 for CORA.
I think this may have been because obviously Yanfolila will need time to get up to commercial operation and HUM have immediate upside to their reserves there from their drilling campaign before even needing anything from Sana to process.
But from a CORA shareholder point of view I'm very keen to see what we have there (I think they already have a good idea) knowing that we have somewhere to send it and with HUM already having mentioned the possibility of expanding the capacity of Yanfolila (although they would need some spare cash to do that, timelines starting to make sense now?)
The cynic in me thinks CORA may raise before we get any drill results back from Sana, which would conveniently allow HUM to maintain/increase their level of interest in CORA at a lower price (presuming the results from Sana are good)
The timing of the raise may also coincide with HUM having some free cash from having Yanfolila producing for 3-4 quarters.
This is just speculation however, DYOR.
Also, those 26.2 ‘sells’ are actually buys