Member Info for Bismarck

What's quite interesting from the accounts is that you can see the cost of material consumed as a ratio of revenue has increased significantly in the last quarter as they've ramped up generation. Typically it's been 75% ish whereas last quarter it's jumped up to 86%. The reason I assume is the higher % of relatively expensive imported coal they've consumed vs cheaper domestic coal of which there is only a limited supply. With imported coal now significantly cheaper than it has been throughout the last quarter I cannot wait to see the results for the the next couple of quarters.

Thanks for posting the link to the accounts. Can someone help me out here as I'm struggling to see the £7m PBT for the last quarter.

The accounts are in Laikhs and I understand one Laikh is 100,000 Rupees or circa £1K

So revenue from operations 43,635 Laikh or about £43m

Profit before exceptional items and tax 788.92 Laikh or about £788K ?

Do we know if OPG fix their coal prices in advance or whether they just pay the current rate at the time the coal is shipped?

I'd like to hold all for 30p+ but I may bottle it and sell about 40% or so of my holding to get my money back once it hit's 20p. My average is currently 8p so even selling at 20p gives 150% profit.

I can still keep the bulk of my shares and hold out for 30p+ in the knowledge that they are free shares.

Maybe break through the 10p barrier this week, last time we saw >10p was before the war started. I see no reason why this shouldn't carry on all the way up to 20p and beyond if coal stays at around $60 or less

Looking at numbers on Stocko it's still trading at only 20% of the 45p/share book value.

Pre-covid, their annual revenue was around £140m and this year it's forecast to be around £53m, despite the higher tariff, due to reduced PLF. Now we just need to wait for them to return to pre-covid levels of generation, with the new tariff, a sensible coal price and minimal debt this really will be a cash cow.

At current POG and exchange rate I estimated "ball park" at between 10,000 and 12,000 oz/year

ICI4 now sitting at $69

Surprised there has not been a more positive movement in SP

Evraz, no offence but I think you're on cloud cuckoo land. If this 10 bags from here I'll be able to retire on the strength of HUM alone, nice thought...but....I doubt it.

The next RNS could say, "we've mined the grades/tonnage as per mine plan and are we're now good for the next quarter at least", or "there's no gold, we're calling in the administrators"

living on a knife edge is no fun.....

1/5th of my SIPPS are in this. Short to med term I guess I'm not too bothered that the SP is now a fair bit below my £1.07 average as I'm planning to top up regularly if it stays below £1. Longer term it would be nice to see £1.20+ again

I'm sure most here are already aware of this, but incase not -

https://www.reuters.com/world/africa/nigeria-commission-dangote-refinery-crude-supply-concern-2023-05-22/

They could wait 3 or 4 months and combine the update with final results, normally out September?

Yes, I just happened to notice the RNS, which was late, at a couple of minutes past 8. I thought the market may view it as a positive that the deal was still very much still alive, so topped up at a quid with some loose change sitting in the account. 7% up today so happy days!

Could be that he expected the SP to drop the full 3.5% X div, and knowing he'd pay 30% withholding tax on the divi it made more sense to sell beforehand?

I keep mine in my SIPP, of course I'll pay tax eventually, but only once, on the way out. In an ISA or dealing account tax is paid on the way in plus on every divi!

At least we can see that the high court does not suffer fools gladly!

"the ability for scotgold to continue as a going concern is entirely dependent on the quantity and grade of ore that is produced ''

Most miners, even juniors, are mining on a significantly larger scale, accessing multiple faces simultaneously. If 1 or 2 from 10 faces, stopes or whatever provide disappointing results it's not usually the end of the world. Most miners will also have sufficient working capital so are not existing "hand to mouth". Therefore the worst they are likely to declare after a bad patch is a bottom end of guidance or below guidance result, disappointing but no real drama. I think it's obvious that Scotgold is in a very different place so does not have such luxuries.

At least this particular news not had much effect on the SP. Obviously the shares are cheap for a reason, considered being relatively high risk, the company being located where it its.