Member Info for BIGBangs

Whatever the figure is it is a much smaller % than you have in Tesco!

Frankly, I brought my first block of 20,000 shares at 2.95, doubled up shortly after at a similar price and I purchased more all the way down to £1.05 so I certainly feel your pain but we are all in this together. Look at the fundamentals and relax.

I see what you are saying but I still do not believe the fines are based on any misconduct now or in the past - there are just to many regulators that would have had to have been fooled and as someone once asked if they we’re understating the amount of gold produced then where did the money go? No for me this is just a country trying to get a better deal and showing how difficult things can get if you do not agree. I believe your £2.80 is a safe bet and soon. The last minute revolt should not hold things up and should at the very least keep ABX on the ball and may even help with a % or two although once again I think ABX have too much to lose not to be seen to be giving us the best deal.

Hi Franky. I had not seen the news over the weekend. Isn’t Crispin Odey friends with Sir Paul Wace - owner of Marshall Wace the company shorting our stock with shares they are borrowing from BlackRock the other party to the revolt! Must make interesting conversation over drinks unless they are using each other as an hedge?I generally support shareholder involvement and they have every right to get involved - I can see that ABX could be seen to have a conflict of interest as a shareholder negotiating on behalf of the company but I do not genuinely see how they can be expected to pay the fine - if they had sold up and moved on I don’t think we would be going back to them now? Without ABX voting then Odey/BlackRock do appear to have a blocking vote so they have to be taken very seriously by all players - in view of their stature they would/should have been anyway. I can’t disagree with Arbitrader that any insecurity is bad news but as there is absolutely nothing I can do about it and it can surely not mean that we get a worse deal then although I would have preferred to see the deal before rattling any sabres, I will just relax and continue to believe we will all be very happy very soon.

Opium. This is one of the definitions I found - all stocks traded on SETS or SETSmm have an opening auction between 07.50 and 08.00 and a closing Auction from 16.30 to 16.35. It is in fact these Auctions that officially set the days opening and closing share price for any share, how does it work? Lets suppose that the last trade for B+B at 16.30 was £2 (it matters not whether its recorded buy or sell ).. end of trading for the day...... at 16.30, dealers/brokers/rsp's and even joe bloggs now with direct market access enter their limit buys and sells onto the SETS system, in the case of FTSE350 shares, these must be within 5% of the last recorded sp ie £2 ( 5% either side gives a range of £1.90 - £2.10 )..... NO trading takes place, just buy and sell bids entered. At 16.35, the auction is ended and for the next 30secs or so the "system" matches automatically buy and sell bids at a share price that gives the greatest weighted average volume of all the entries, ie the biggest amount of "matches" it can find.....whatever this figure is, that is the official closing price of the share........ so at a time of 16.35 + a few seconds you may see a trade of 1,110,432 shares @ £2.0835p UT.. UT meaning it was an Uncrossed Trade during the Auction process, it is wrongly labeled a Buy or Sell when in actual fact it is a volume figure of a lot of buys and sells, very misleading. No still don’t get it nor do I understand in relation to ACA that whilst is is normally between 1 or 2 00k it was 4.2 million the other day? Can you explain it to me?

Opium - I to am a disciple of Buffett although of course he would not be buying gold so we have both strayed. Also remember he does not sell as long as he remains convinced that the company are a buy but dumps companies he thinks have gone astray - or of course tries to change their path. I don’t understand UT and have even looked it up online for help but ultimately none the wiser. If you can help I would be genuinely grateful.

Opium you certainly seem to be getting very worked up for holding - what did you tell us - value £400 before the last drop - say 250 shares? I think GLEN will come good - I sold at £4 last week or so and will go back in when things have settled - let me know when you invest so I can get my timing right. If ACA is so terrible why not switch today and stem the rot?

If you like FXPO then you might want to check out ZIOC (12p ish) massive reserves - 51% owned by GLEN - potential Chinese interest - been dragging on as I think c$2 billion needs to be spent to get the ore to market. ZIOC likely to be brought out. Anyway back to ACA.

I think you are on a winner with CEY but Egypt has its own risks. I will look back there when ACA is resolved but for now I too am staying put.

Yes but 4.2 million to balance the books? There were not that many traded all day.

Anyone understand the UT of over 4m shares? Must mean something but I don’t know what?

Thanks H, I understand but obviously have to ask you to remember that any prospect of the $190 billion fine has now gone - like you I would have been more concerned at the time if it had been lower but had some merit to it! I think all of the obstacles have been removed and we are promised details of the proposed deal within 2 weeks (from today) - add that to the confirmation that their are Chinise buyers in the wings and I think that make a very solid buy at these levels. Having said all that I know from the other boards that you are a serious player and you must of course follow your own instincts. Good luck with wherever you decide to invest.

I agree Super but they have managed to manipulate the market pretty well so far by selling and buying back in the same day - this should level the market but somehow it has not. You have to ask yourself if the market makers are not working with them? Try as they might they will have to buy soon and that will make a big difference to the SP.

Petra fell massively due to the fear following the discounted placing and is perhaps rising on the back of the news about GoT and therefore the belief that they will have something useful to do with the money raised. They should get the diamonds back at least I hope they do.

Thanks HeresHopin - I notice that you are or have been onboard for some other shares I hold/watch. You have been following this board for a while but have not dipped in - can I ask what is holding you back?

Unfortunately it is perfectly legal for institutions to lend shares to shorters - they do this to raise a little more profit from their investors- we as shareholders may not like it but it happens all the time. Shorters borrow the shares to sell and lower the price in the hope that they can buy back and return the shares for a profit - practice in banned in some countries and following what has happened here I am more inclined to follow Supercharger’s wish that the UK should do the same. There are 11.5 million shares in private hands - no one is selling, certainly not the institutions and so I believe the shorts who now have a declared position (over 0.5%) of 0.58% or 2.3 million shares are screwed - they have to buy the shares back and there are none to buy = short squeeze. The news today is absolutely massive as it remove the threat of $190 billion and clears the way for a great deal to be announced within the next two weeks. I have bought a few more today and although everyone must make their own decisions I honestly believe this is the best opportunity to make some serious money on the market. DYOR

I remember only too well how the share price collapsed when the outrageous $190 billion tax bill was announced - this has gone - if the market acts as it should the price should rocket even before the final deal is announced at the end of the month. Let’s see what happens next week.

Value - thanks for posting - this is massively important and removes any potential loss of face for GoT. Absolutely brilliant news.

Opium - are you referring to the superb news reported concerning production levels through difficult times - the £107m in the bank plus that to be added in Qtr two - the fact that an outline agreement has been agreed with GoT and will be announced within 2 weeks or the fact that there are Chinese buyers keen to become involved. I presume you are including me as one of the sunshine boys - funny the harder I look at the figures and potential the more sunny I become. My shovel remains sharp.

These reports seem designed to be difficult to understand. I read it that their direct holding reduced by 0.3% from 5% to 4.97 this is natural ebb and flow by ultimate owners and only has to be reported as they crossed a % threshold. It also appears to read that they are lending 3m shares (to shorters) so thanks for that!