Stephan Bernstein, CEO of GreenRoc, details the PFS results for the new graphite processing plant. Watch the video here.
Hi All - It's rare that I post on here - I just usually sit on the sidelines and read what everyone posts (paying special attention to VP). I started buying Ocado shares last October, and have been topping up monthly. The shares I buy now are for my retirement (unless something unforseen personally occurs). Its a good forum to read what you guys post.
I have 10 companies I have shares in at the moment - Another one is Halma - Welcome Halma1983 - Do you also hold that stock?
Wow - 2 posts in 3 days - I need to slow down!
Has the tax been agreed now or is there an appeal? At current pricing levels this will impact Anto's profit margin considerably but I dont know as much as others so just trying to get an idea. I'm holding anyway - I'm averagnig a price of just over £8 but want to get an idea of what is going to happen long term. TIA
Hi All - Rare that I post on the chat forum but just wondered if anyone has their dividend showing in their account? Should have been paid May 14th? Just checking before I chase my broker.......TIA
I rarely post on here but have been holding BT shares for the last few years and top up after a fall. Today though I've had enough - Revenue continues to fall and debt is still increasing - I've accepted the loss and will move on. GLA
Been here for over 7 years topping up and averaging down. The closure of Inata is the final straw. Wouldn't be surprised if Managem gets it all for next to nothing. I've made a big loss today and strangely I feel relieved I'm out of this company. To those that remain I hope things turnaround. GLA
I agree totally GB. Avocet expect costs to rise in Q3 between $950-$1050 an oz. In H1 their costs were $913 with an avg realised price of $1213. I'm hoping the increased costs will be offset with the increased price in AU as so far it has not dropped below $1300 in Q3. If this continues it bodes well.
Hi Goldenballs Please remember than we will be a minority share holder in Tri-K when operational so we can pay back debt to Elliott have increased cash flow. Its a blow that we will lose most (or possibly all) of Tri-K but if debt it reduced I guess that's a start. As always the price of AU will determine the future of Avocet until we are on a more level playing field! Let's hope that is sooner rather than later
Having read the FY results of 2015 this is a little worrying that no update on this has bee provided (P11)? Loss of Tri-K permits Under the terms of the Guinean Mining Code, if the holder of a mining permit has not commenced construction activity within 12 months of the award of the permit (ie by 27 March 2016), it can be liable to penalties commencing at US$100k per month. If such activity has not commenced within a further six months, then the permit may be withdrawn by the government. The Company has held a number of meetings with senior members of the Guinean government, at which extenuating circumstances were discussed (notably the bear market for mining finance, and the ebola crisis in Guinea). Nevertheless, if the securing of financing for the project is not secured, then there is a risk that the Government of Guinea will apply penalties (which may in itself discourage investment in the project), and may ultimately withdraw the permit. Moreover, any deal involving the external financing of the project will require the approval of the Guinea Government – not only if such proposals involve alterations to the construction plan, but also because any material change in ownership requires approval under the terms of the Mining Code. Based on the discussions held with interested parties as well as senior Government representatives, the Board has a reasonable expectation that, provided financing terms can be agreed upon, the Government is likely to be sympathetic to proposals that result in a mine being constructed at Tri-K of at least the scale and economics outlined in the Feasibility Study.
So shiny stuff looking good at the moment which is sold in USD. With conversion to GBP favourable is this another plus? Second quarter results out at the end of the month - could be nice reading? Hopefully a reduction in debt and update on financing. Better than first quarter results could really make this take off?
Lofty et al. If gold can be north of $1200 for a sustained period of time then we MAY be able to turn this company around yet. Fingers crossed
0 November 2015 Loan agreed with Coris Bank Avocet Mining PLC ("Avocet" or the "Company") announces that its Burkina Faso subsidiary, Société des Mines de Bélahouro SA ("SMB"), has secured a short-term loan of 5 billion CFA (approximately US$8.2 million) with Coris Bank International, a leading commercial and retail bank in West Africa. The proceeds of the loan will be used to address temporary working capital shortages at the Company's Inata mine in Burkina Faso, as a result of the disruption to gold shipments and transportation of supplies in the wake of the recent attempted coup, together with an anticipated temporary period of mining lower grades and higher stripping in the Inata North Pit. The loan carries a coupon of 10%, and is repayable monthly between January and June 2016. It is secured over the Inata mining permit and other assets of the mine.
Sorry Batfink - no news I'm afraid and after continuous topping up I've resigned to losing my cash.......I may well be wrong but with so little coming from AVM I really don't know how they can turn things around
Not sure if I'm mad or not but just bought another 25,000 shares @ 4.4. Surely too low?
As well you know mate lack of confidence and being kept in the dark in the reason for the silence. Where's Happy Tom eh? He was the one the knew more about this stuff than most and yet after results etc he would be able to shed some positive news. I guess he has realised the same. Something will happen here but at this rate I can see us giving Tri K to Elliot for the money owed leaving us with little else. I hope I'm wrong. I know Elliot are heavily invested but why do something now? Gold is low and if it stays that way then AVM will go to the wall. If he rises they win. If AVM go to the wall they then have Tri K plus other exploration licences that I'm sure they can sell on when POG increases?
Avocet Mining PLC ("Avocet" or "the Company") today announces that its subsidiary company, Wega Mining Guinea, has been granted an exploitation permit, or mining licence, for its Tri-K project in north east Guinea. The award of the exploitation permit follows Wega Mining Guinea's permit application to the Guinea government in September 2013, based on technical information contained in a Feasibility Study for the heap leach processing of the gold. In the intervening period optimisation work has been carried out to reduce capital and operating expenditure significantly. In addition, as part of the Company's business review, Avocet has been seeking appropriate partners for financing, developing and operating the project. These discussions are ongoing and will benefit from the granting of the exploitation permit. Avocet is working to ensure that its financing and project development plans will allow it to start construction as early as possible in 2016. The company will provide further updates as appropriate
tbh I think Sprinter Sacre will win as long as his ticker holds out and has come on for the run!
The silence on here is just about as deafening as the silence from the BoD. Still no update regarding financing or a mention of Tri-K. All I do now is hope the shiny stuff can stay > $1200 oz in the short term to show signs of recovery. We shall see. I don't want to top up anymore as the way I look at it is if this does recover to a reasonable price I'l be happy anyway. Righ tnow I'm actually more interested in focusing on Cheltenham lol