Member Info for bigbadbob79

Yep, I was just logging in to my trading account to buy a few more around 82p (previous support;)), when TradingView showed it shooting to 9% up on the day from 10% down just a few minutes before, then down to about 5% down.
Big volume today, clearly some shenanigans going on.

Same here, tried to buy when it went under 8p but was NT, though could sell everything at 7.64p. Eventually got a chunk at 7.8p, happy with that.
Lot of mining stocks spanked today, but someone has been selling £10k clips here this afternoon. I'm happy to accumulate.

More than likely a placing coming. Lots of money to be spent on plant, equipment and mining and no income as no sales. Last raise was to "bring Lubu into production" on the expectation they would be selling what was dug. That's no longer the case, without the revenue I can't see how they can fund cokes ovens and other infrastructure without a placing.

There's a lot of social unrest etc going on in Sri Lanka right now. Perhaps that's why things are taking a long time?

Hahaha. Like there's gonna be another lockdown. Absolutely zero chance of that.

OK, I'll come out and say it. I think the RNS indicates cash is getting tight.

Hmmmm.

Wow. I'd intended to hold these through to first dividend but sold out at 400p on the ride down from 490p, got spooked by the Transnet issues. Made good money. Thought about jumping in again but missed the boat. Well done to those who stuck with it as I should have done!
Boy do I regret selling!

TSR makes me cringe to listen to, so I've stopped. The guys are rank amateurs. Awful.

If there was market sensitive news to release they would have released it. Companies are not allowed to withhold market sensitive news.

And yet, Earl, the market isn't pricing it at 150p.
I wonder why that could be?

This is the second fundraise they've done since listing.
I'm amazed at the small premium, though I suspect that's only fortune as the price crashed yesterday - in reality it's a small discount to every closing price other than yesterdays.
Non-food? WTF is that about?

Still think this business has zero value.

Seems the Cashew project is permanently delayed. In January they said the colour sorter was was due to leave China "in the next few days". That then became April, what's the chances come April it's delayed again?

Doesn't matter, there will be plenty of business elsewhere.

Very good post Penstock, agree with everything you have written there.

Yeah I get all that. I don't think the 70k will happen in March. It may but it's not a slam dunk.
Coal prices will normalise at some point.
The market usually gives an opportunity to scale in again. Look at TGA - 100p to 490p down to 250p and now around 600p.
If I don't get that opportunity I'm still happy (in gyid be delighted!

Right now there's loads of positivity round BEN, rightly so. But that sentiment can change very quickly if there's a perception that things are taking longer than expected, aren't as rosy as expectes etc.

Zib. I agree. My original investment has 3 bagged and a bit more, so I've taken it out and left the rest to run, along with some more "free" shares from top-ups and getting that capital back at 40p.
Just an observation that often when there's a lot of news expected, the market reaction is "meh" when it actually lands rather than booms and rockets.
Whatever happens, I'm happy with my risk reward profile.and have capital back to pick up some bargains in the current market turmoil.

Well, we shall see.

Reg, yes BEN I think has got ahead of itself so I've derisked a bit there today.

The RNS confirmed they don't need to raise to bring Lubu into production. But that "into production" was coal to sell. Not coal to stockpile (no cashflow), not waiting for coke ovens to come on stream in a years time. If the plan is now not to sell dirty coal, then, IMO they need wheelbarrows of cash to build the washplant, coke ovens and pay for all this mining and stockpiling (which is an absolutely stupid waste of cash IMO) with no sales.

You can't have it both ways. The capital costs of the coke ovens etc are much larger than removing a bit of overburden and digging some coal for quick sales.

And if I'm honest, there's something fishy about those videos from the site. One excavator and a tiny rigid lorry? Really?

I desrisked a little today having topped up twice recently. Didn't expect it to move from 40p to 60p so quickly, expect there will be a pullback at some point at which point I'll increase again.
With the recent rises on expectation I suspect the "sell on the news" brigade will cause us some issues.