Member Info for Bismarck

Saga,

It's clear you don't read the RNS's that DEC produce otherwise you'd have known about the 20:1 consolidation weeks ago and be aware of the reason for it. You'd also know that SP weakness is nothing to do with the consolidation.

When you read on SWS "Earnings are forecast to decline by an average of 72.8% per year for the next 3 years" you know the analysis is not credible.

Yeah historically they've issued their half year report 1st week of December so hopefully will land next week. We certainly need a positive RNS to help to push the SP back up towards 20p.

Perhaps he sacked the old board simply because of the obstruction they were causing to the deal?

A friend did some research on the possible new owner. I can take no credit for it

Company

CONONISH MINING LIMITED

https://find-and-update.company-information.service.gov.uk/company/15310690

People

KANSAGRA, Bhupendra Shantilal

https://find-and-update.company-information.service.gov.uk/company/15310690/officers

List of companies

https://find-and-update.company-information.service.gov.uk/officers/aUodWEruwol5FQBStVc6Mlajubg/appointments

Daily Mail

A British millionaire has been charged with manslaughter after 48 impoverished villagers died when a dam burst on his farm estate in Kenya.

Perry Mansukhlal Kansagra, 44, is a member of one of the UK’s richest families, who are worth an estimated £320 million. He denies the manslaughter charges but faces life imprisonment if found guilty.

Kenyan politicians have said the dam was built without either the required legal permission or heed to safety laws, a claim that Kansagra denies.

The Kansagras were listed as the 388th richest family in Britain in the Sunday Times Rich List.

https://www.dailymail.co.uk/news/article-6027053/British-millionaire-charged-manslaughter-48-die-dam-collapses-Kenyan-estate.html

Looks like he'll fit in quite well then......................

Selling would be my no1 preference

Developing alongside a capable and well financed mid-tier my no2 preference

DB doing it alone or with Pasefino = time for me to exit

Or pay off Kor completely and build up 100m+ working cap while boosting resources at Dugbe, then consider available options

Correction...15g/ton not per oz obviously

Mining is not as simple as looking at numbers on an excel spreadsheet. There are huge financial risks to new projects.

A few examples plucked out of thin air -

Scotgold Resources, mining grades of circa 15g/oz, now in administration.

Tharisa, wanting to become a multi asset miner developing a new Karo PGM mine in Zim. Their chrome mining in SA is doing fine but PGM basket price has plummeted to the point where it's approaching the AISC so their new project may now be a huge liability, at least until the basket price recovers significantly.

What about Condor? Trying to sell La India but not many takers so far. They're not really capable of mining it themselves.

Then there's Hum disastrous period with Yanfolia not so long ago which most here will remember when AISC was >POG.

Moral of the story - don't push your luck and overstretch. What will happen to debt ridden miners if POG drops to $1300 in 3 years for example?

Go back a bit further, I got involved when SP was mid 20's but some bought before that when it was in the 30's or 40's. I saw mine drop from mid 20's to about 14p at which point I bailed out. I returned after it had dropped to the 5's and was on its way up to 8p. As soon as I bought in the 8's it dropped back to the 5's again, LOL.

Yanfolia was quite a disaster for some time, machinery breakdowns, rains, mining contractor failures, political unrest, then more rains...etc etc..... everything to blame...except DB...LOL

Sorry, I was looking at the position of the trades on the list rather than the actual time. That trade was shown an hour late. I retract that comment.

@ 12.025p yesterdays trade was most defiantly a sell IMO given it was the lowest and largest trade by some margin, so if he bought them back today at 12.5p that's not good trading

Try again

$1.2T is still lower than Amazon's $1.5T market cap

$1.2T is still

Yeah, 65p here we come!

That's an incredible 78% premium on LSE price. The shares have the same nominal value I assume?

It's circa 85% owned by institutions according to SW Street and that's not changed much for a while as far as I'm aware. I'd guess it's not institutional sells that are killing the SP?

@pardariff

I'm not sure you can apply normal metrics to determine P/E of this share.

According to Stocko the TTM NP is $942M whereas 2022 NP was loss of $625m. All related to hedging I know.

On the basis that circa 40% FCF is paid out to shareholders in divis then price to FCF would be about 2. Since FCF is >NP the P/E would surely be >2?

With the Nigerian interest rate now nearing 20% I'd expect them to favour debt reduction over specials assuming this deal materialalises.

Https://www.reuters.com/markets/europe/swiss-authorities-banks-mull-new-rules-prevent-bank-runs-sources-2023-11-02/

LONDON/ZURICH, Nov 3 (Reuters) - Swiss authorities and lenders, including UBS (UBSG.S), are discussing new measures to prevent bank runs after Credit Suisse’s rescue earlier this year, four sources familiar with the matter said, a move that could affect billions in deposits.

The talks, which have not been previously reported and are part of a broader review of the country's banking rules, are intended for the top Swiss banks and could target mainly their wealth clients, two of the sources said.