Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Funky, me, Martin Rosser, Alan Clegg, James Bunyan, John Getty, maybe Gerry Beaney (Northland Capital), maybe someone from Turner Pope (James Pope turned up last year), Plus other shareholders. So far no one else from this thread apart from Funky and me have said they are coming. Poor show if you ask me. If you have valid excuses for not making the trip thats fine, but if you have no get out clause then make the trip. You can't expect Funky and me to relay everything we hear, read between the lines, get a gut feeling of, see the expressions and body language of the directors etc etc. You will only get an overall impression by being there. As we all seem to think that AXM is on the cusp of great things, then its in your interests to buy that train ticket! I will be buying mine this afternoon.
Good post trills.
Hi Apple S, (sorry couldn't resist). Take a look at my post Presentation. I have talked to the CEA Adam Waugh and he came across really well. He has around 6.6 million shares, the FD has about 5.6 million and Paul Beck 4.6 million. So the directors have a fair amount of skin in the game. Also, note in the March £500k placing David Facey, Finance Director of the Company, and Paul Beck, Non-Executive Chairman of the Company, have agreed to subscribe for 1,666,666 and 1,000,000 New Shares in the Fundraising respectively. So basically the directors think its worth investing and the shares are now at rock bottom (excuse the pun). So there you go!
typo....As for the share sales....
all getting your knickers in a twist over Multicom if you ask me. As for the share shares - well someone who is dumping at the bottom, either needs cash or just can't wait any longer, well their loss that's all I can say. Also, if you all want answers then I strongly suggest you take a day off work - its your money !!" in this share so for christs sake come along to the AGM and ask Martin and Clegg some questions yourselves. I don't know where you all live but if its the midlands or the North or the west country etc etc there are trains you know. If it costs £50 or £70 quid won't it be worth it. Funky and me might even buy you a pint in the pub afterwards!
Ah yes well basically, I wanted to find out what the actual biscuits were that the BOD keep dunking. Its all very well all of us speculating as to whether they are custard creams, digestive or rich tea. I mean if its hob knobs then we know that something really big is going to happen. Also of course as Alan Clegg is flying over from Australia where he lives then his choice of biscuit will be the big clue I feel. Well obviously this is all jesting, but you never know what additional insights you can get when talking to the BOD in person, they are human after all. They do exist I have seen them!
just me and funky again! Are you all chicken or what? You've got share stakes- its in your interest - take a day off work and take a trip to London. See the sights in the afternoon after the AGM (drinks first though!).
Definitely, see you there Funky. Wouldn't miss it for the world. Mines a Peroni! Its gonna be grand, Alan Clegg there as well!
I went along to the presentation by Adam Waugh at the Pro active investors event last night in London. Very impressed by his talk in stark contrast to the other three mining companies presenting who came out with the usual crap. I asked him about the problems with the cone crusher viz a viz the extra cost basically. Thought we could be looking at a couple of hundred grand. However, for the time being they are renting one as it suits them at the moment, cost of £3k a month so £36k a year. Also, the whole operating and processing plant have been completely overhauled, parts replaced for new, that includes conveyor belts, pulley wheels every nut and bolt basically, and the last part to be looked at was actually the cone crusher which started causing problems a bit earlier than expected, hence the recent RNS. So it was actually due to be overhauled anyway. So now its been sorted earlier effectively. As they have said they have probably lost about 10 days of production, but should be back up and running again very soon! Obviously will have some impact on the 2nd quarter prod figures, but I suspect not too much. He said that they were mining for 50 hours a week, that has now gone up to 100 hours per week. I suppose that's part of the reason for going up to 275,000 tonnes this year. I reckon we'll have an RNS very soon to say that production has recommenced. I think the most interesting and exciting thing to come from last night was the picture of the cross section through the Kimberlite pipe. K2 which they are mining now consists of the first section down to 7 metres which is calcrete (no diamonds) then a calcretised kimberlite section (next 10m metres down) which contains diamonds of 2.4cpht. The 3rd section is all kimberlite and diamonds of increasing amount so greater than 4.5cpht. The deeper you go the more there are and the likelihod of finding larger and larger diamonds. They are currently in the 2nd section and nearing the end of that. So in the second half of this year they will be mining the 3rd and most exciting section. Also K1 will be coming on stream as well with about 40% higher grade diamonds. I think the biggest diamond they have mined so far is about 7 carats for which they got approx. $78,000. So you can just imagine if they start getting more of these and larger, which there is a good chance as they go deeper in to the 3rd section. Lastly, I asked him about the Visser situation as that was causing some investors not to invest. From what he said about the case it seems very unlikely that Visser will get anywhere. It may drag on a bit like these things do but at the end of the day my thoughts that Visser is trying it on to see what he can get was borne out by the reaction I was getting from Adam Waugh and David Facey. In the meantime, the mining operations at Blue rock are going very well i'd say and as time goes by I think we may hear of bigger diamonds being found.
useful background info considering AXM's recent patent for cobalt in Zambia and the commercial introduction agreement with Duard Capital. http://www.proactiveinvestors.co.uk/companies/news/199032
Hope doesn't come into it.
my holding by 15m shares to 41m over the last week as the 40 day cycle was bottoming. Techically everything has the green light (as you all know) so I have positioned myself for the next upswing. The train hasn't left the station just yet but I think the guard will be blowing his whistle next week. GLA.
cross has been triggered today. The 50 day m.a. is at 0.1279p and the 200 day is at 0.1275p, so the 50 has cut up through the 200. Just so you all understand what is going on here, most times when you get a golden cross between these two averages and the price is substantially above these two averages when they cross then it acts as a sell signal - that's because of the lag effect. In other words when the price rises too sharply in a fairly short space of time it becomes too overbought and the price drops back, like it did last November from 0.185p. However, this time the price is not overextended, low to oversold in fact (RSI is at 51 - which is in the bottom region of a new oversold - overbought range of approx. 40 to 80). So, with the cycle low also having just occurred at the 61.8% retrace support level of 0.1275p we have the scope to move higher, possibly substantially, over the next three to four weeks. That will cover the AGM on the 28th June, when Alan Clegg will be attending.
Well chaps and chappesses (are there any ?), things chart wise look to be moving up a gear. Today was day 40 of the 40 day cycle which has been clearly evident since last Dec 13th (low of 0.1125p). This is the third cycle low since then and this has been working like clockwork. Now this is where it gets interesting. Remember I said that the 26 week cycle was due to peak (assuming halfway at week 13) around the same time as the last 40 day cycle peak around 2nd week in May, well so far it has, but I also said it could right translate. I definitely think its going to do that (so over 0.16p - the last 40 day cycle high). The reason I think that is not just the fact that the 40 day cycle has JUST commenced its upswing, but the fact that FOUR other longer term cycles are rising too. These are the 9 month, 18 month, 4.5 year and the 9 year. These all bottomed back in February, around the same time that the 40 day cycle bottomed two cycle lows ago . The 26 week cycle also bottomed then. So what this means is that there are tremendous upside cyclic forces at play and currently FIVE of these are pointing UP. This is why there is a strong likelihood that the 26 week cycle will right translate. Another interesting (and bullish point) is the fact that this is the first time since December at least that the correction back from the 40 day cycle highs has not fully retraced the 20 day upswing phases. The low of the cycle just gone was 0.1075p and the high was 0.16p. The low on Friday and today was 0.1275p, so that's exactly 61.8% which as you all know is Fibonacci. Usually retracements at the start of bull trends correct between 50% and 61.8% of the initial rally, sometimes 78.6% (Fibo as well). So really, 61.8% is ideal and comes bang on the cycle low! Another bull point is the oversold level of the 14 day RSI (40) which was higher than all of the last corresponding levels (35, 35 and 32) at the three previous cyclic lows. That means the boundaries between oversold and overbought is shifting to a higher range. That is bullish. Finally, phew, the 50 day and 200 day moving averages are rising and currently sit at 0.1273p and 0.1276p, respectively. This means they will generate a golden cross buy signal either tomorrow or Wednesday. Good luck one and all.
Well not that particular chart. Looking at the last multi-year downward leg, so four years or so. It has a long way to go to break the longer downtrends. By the way i'm using a log scale, where a downtrend is harder to break than a linear scale. Also with a log scale you can see the last couple of years price action clearly, whereas the linear scale squashes that period to virtually nothing on the chart. I expect you know that anyway, just in case anybody else is not familiar with log charts. These are the real acid test (or should that be ammonia) for trend changes etc. I use them all the time. Oh yes, the weekly RSI looks very nice indeed, more positives for us. Also, I threw a 10 week and a 40 week moving average on the weekly chart and a golden cross buy signal has just occurred. Also checked the daily chart with the comparable 50 day and 200 day moving averages. They havn't crossed yet but both rising, so with any luck that should happen soon. Finally, remember the bullish three white soldiers recently on the weekly candlestick chart. My god, this is really all coming together, I now wish I still had 40 million of these little beauties. Alas only 26 million, but not bad I suppose. June looks like being a good month, and not just the weather!
Should be March high, not Mach high.......though on reflection.....mach would be better....mach 1.0 will do, thats pretty fast! Speed of advance mach one for AXM!!
At end of first long paragraph Mach high should be 0.1375p not 0.1325p.
being thrust upon it before very long! Nice post you old ICL computer you! Hmm....I feel a chart update coming on! Standing back a bit and looking at the longer term picture its clear that the trend is in the process of turning from bear to bull. Its been transitioning for some two years now as it has traded generally sideways for that period. However, recently (about a month ago) it broke a four year downtrend from the April 2014 high of 5.625p. That downtrend touched the Nov 2017 pre �600k placing high of 0.185p and the March 2018 rally high of 0.1325p. The peak of 0.16p which occurred on 15th May was two days beyond the halfway point of the 40 day cycle, so its starting to right translate a bit, not by much yet but a positive sign. The longer 26 week cycle was due to peak around that time too as I had mentioned before and so far that may be the case. However, maybe some of you have noticed that the price hasn't come back down as much as in previous downswings from the 40 day cycle peaks. This has meant that the price is still sitting ABOVE the broken 4 year downtrend - another positive sign. In addition it is also sitting ABOVE the shallower downtrend which connects the Jan and Mar 40 day cycle highs of 0.1475p and 0.1375p , another positive sign. Also, bear in mind that the current 40 day cycle ends this Friday which means that uptrend forces from the start of the next 40 day cycle will begin next week. It may be that we get a brief stab down some time this week as the bearish half of the current 40 day cycle shows it self. It may not and the price just moves higher from next week. If we do see the price pushing ahead nicely, the chances are that the current 26 week cycle will right translate as well (over 0.16p will do that) and if so, then its likely that new investors will be contributing to the rise. Of course this is only how I see it on the chart and I could be wrong. Best of luck to one and all!
Pistachio... cos I want a lick first!
I was wondering that too! Well, there are always non-believers I suppose or peeps just getting bored. I don't need to sell my 26m so i'm sitting on them. You all know what I think of the chart. And no negative comments from anyone about charts, cos if you do I shall poke an ice cream in your face! (metaphorically speaking).