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Aye many a golden egg laid today, might be gold price retests record $ highs as we move into the years end

UK markets are not the issue, there are countless examples of stocks that have performed well this year, Rolls Royce was up 200% from lows until recently. Base metal and precious metal sectors are struggling with 1/ decades high inflation and 2/ higher interest environment which is doubly bad for those indebted miners and anybody holding equities which tend to struggle when rates are rising. Sluggish Chinese growth, the lowest in decades is also dampening demand everywhere except in the US, where the Dollar remains strong, ultimately bad for miners short term

Best quarterly update of 2023 in terms of production! On track to meet guidance. As mentioned already weaker commodity price action in recent weeks shouldn’t be hugely problematic given the strength of the balance sheet and our market capitalisation has already fallen to a level indicative of a dividend cut. Can the board maintain the FY dividend of 20p (11.5% yield)?

Quickly back to 3p after latest update. The media are shining a spotlight on the intention to extend the life of mine at our Kiziltepe Mine which has the obvious positive knock on effects of supporting group cash-flow requirements in the short to medium term. The growth strategy just hasn’t pulled in market interest but that could be a symptom of wider market woes not limited to Ariana. I’m less concerned about Ariana than the state of the resource sector and valuation of producers. With rates due to peak later this year will there be a rapid reversal to stave off global recessionary fears?

https://www.rns-pdf.londonstockexchange.com/rns/4006J_1-2023-8-15.pdf

Can you elaborate a little on why you believe that to be the case. Interested to hear the reasons HUM can’t generate a minimum quarterly sum of $20m cash after all costs once both mines are running and there being no major capital expenditure due thereafter. I would assume HUM are not going to plough tens of millions more into Dugbe short term

I don’t think they are reducing Yan production figures Billy, they are planning to issue new guidance because H1 was stronger than forecast

Following a strong H1-2023, Yanfolila is well positioned to meet its FY-2023 production guidance of 80,000 - 90,000 oz at an AISC of under US$1,500 per oz.

· Updated Group FY-2023 production outlook to be given in the Q3-2023 operating and trading update once Kouroussa is closer to steady state production.

Debt is due to be repaid over a couple of years but there is s high probability HUM will turn net cash positive next year. We are on track to generate $20-30m cash per quarter after all it’s inc taxes once the new mine is in full production

Give it a rest will ya your posting history is laughable

Ariana Resources plc ("Ariana" or the "Company"), an AIM-listed mineral exploration and development company with gold mining interests in Europe, provides the following update on Venus Minerals Limited ("Venus"). Venus, in which Ariana currently has a 58% shareholding, has re-engaged with its advisers and is now actively proceeding with its intention to seek admission to AIM.

Highlights:

· Venus is proposing to raise up to £3 million from new investors, following which Ariana will hold approximately 35% of Venus.

· Venus is progressing towards an IPO on AIM during Q3 2023, with marketing to commence imminently.

· The IPO will enable Venus to undertake a further exploration programme on its portfolio of 100%-owned copper/gold assets in Cyprus.

Dr. Kerim Sener, Managing Director, commented:

"We are very pleased to report the latest progress on Venus. With the support of its brokers and other advisers, Venus is currently expecting to advance toward listing on AIM during Q3 2023.

"With a very strong pipeline of copper-gold exploration and development projects in Cyprus and a cutting-edge exploration model, Venus is strategically placed to capitalise on the global deficit currently predicted in the years ahead for the copper market. Cyprus is a well-established and low-risk mining jurisdiction in Europe, so now it is imperative for Europe to develop its own copper resources to support the global decarbonisation agenda. We expect Venus to help advance and develop a series of high-quality copper projects to satisfy this demand.

Performing better than others isn’t it, pullback to be expected? Seems to receive more tips than similar gold producers on account of its ace card (Lithium) regardless of how far away commercial production is

Looking rosier around the sector but for the small caps. Bushy how long to go til q2 update!? ;)

More information about Odey, Shanta Gold stock moving into safer hands

The UK stocks which could suffer if Odey Asset Management becomes a forced seller

The hedge fund is looking to transfer assets to other firms which could help diffuse redemption requests

Thursday 06 Jul 2023 Author: Martin Gamble

Investors are looking hard at the stocks held in funds managed by Odey Asset Management for fear they will be dumped on the market as the hedge fund tries to raise cash. While some positions have already been cut, there remain plenty of stocks where its position has not changed (yet?).

The firm is restructuring following a Financial Times investigation into alleged misconduct by founder Crispin Odey, who has since left the business.

Odey Asset Management has been forced to suspend dealing in its flagship hedge funds Odey European and OEI Mac after being overwhelmed by investors’ redemption requests.

Reports suggest Odey Asset Management is in talks to transfer its five global equity funds to Lancaster Investment Management and a further four funds to SW Mitchell Capital.

Odey Asset Management is known for its high conviction, concentrated approach which includes less-liquid positions where the manager owns a relatively large chunk of a company’s capital.

While it won’t be liquidating its entire portfolios, there is a risk that any stock held by the hedge fund could be seen as having a share overhang until the restructuring is completed – i.e., a fear that the stock could be sold.

Shares in Shanta Gold (SHG:AIM) had been falling for several weeks on market fears Odey Asset Management was trying to sell an 8%+ position. On 30 June, the miner revealed the investor had cut its stake to 1.1%.

Another recent sale includes car retailer Pendragon (PDG) where Odey Asset Management’s holding went from 9.8% to 3.8%. It also sold an 18.9% stake in online electronics retailer AO World (AO.) to Frasers (FRAS).

Odey Asset Management is the largest shareholder in biotechnology firm Oxford BioDynamics (OBD:AIM) with an 18.3% stake. At the end of May the biotech said it needed to boost revenue or find additional funding, sending the shares down 19%.

A 5.5% stake in flexible office provider IWG (IWG), formerly known as Regus, may be hard for Odey Asset Management to sell quickly on the market unless it finds a buyer for the whole lot. Its 56 million shares are valued at £76 million, representing over 30 days of average daily volume according to Refinitiv data.

Other stocks where the hedge fund owns more than 3% of the business includes Mirriad Advertising (MIRI:AIM) where Odey Asset Management has a 16.3% stake; package holidays-to-airline Jet2 (JET2:AIM) with a 3.9% stake; and 4.1% of brick maker Forterra (FORT).

https://www.ajbell.co.uk/sharesmagazine/2023-07-06/the-uk-stocks-which-could-suffer-if-odey-asset-management-becomes-a-forced-seller

This is looking more fairly priced considering the dividend cut. Now yields aren’t too dissimilar to SQZ which pays out twice a year. There’s better yielding oil producers like DEC and ENOG but this has the potential to recover quickly from current lows in my view. I’m holding a small chunk and looking for a bit more stability before taking another bite of the cherry. Is anyone else a holder of the other three producers mentioned and if so how do you rate I3E next to them

Terry is talking nonsense. Look at all his previous posts. Using fear tactics to force weak holders out so you can buy low and sell on the next crest!

Let’s see how positive the half year results are first, that will have a greater impact on near term outlook than a weakening gold price. We have just achieved commercial production at our new mine site, group production will be more than 50% higher than the same time last year going forward. All in sustaining costs lower. Capital expenditure minimal as all infrastructure spend complete (sustaining capital aside).

We are all eagerly awaiting results so we have some

measure of the free cash being thrown off.

Buy and hold

Agree with your assessment LWHL, the way these countries are being run into the ground is likely to keep company valuations cheap for the foreseeable

Better than expected update again, commercial production achieved in just two months!

But it’s a shame Eric didn’t comment further on our free cashflow relative to remaining debt as the market appears blind to what’s happening. I can only imagine the wider market is ignorant to what’s happening with Shanta’s financial situation this quarter compared with Q1 and our performance in 2022. I just can’t understand the lack of interest but maybe it will take those initial improved financials at HY with a decent second half outlook to really get this girl motoring.

Could someone post the link to the recording if it’s available, the last update I can find is the latest presentation from yesterday

https://www.shantagold.com/_resources/Investor%20Exploration%20Update.pdf

Who would want to buy!? Get out while you still can.

Yes certainly UK investment climate 2-3 decades earlier was more inviting. Are the alternatives today much better? Most G20 economies have sacrificed conservative economic and fiscal governance for a more volatile ‘liberal’ kind, relying on debt and immigration to fuel growth which ultimately does not benefit the average tax paying citizen.

Like yourself I can’t see how the fiscal climate will improve here but nor can I see it improving elsewhere. There just isn’t the political appetite for change as you mentioned, markets made it clear last autumn what would happen if government adopted a low tax policy without a clear path to reduce national debt.

Can you clarify what you meant by ‘it’ when you mentioned it won’t?

In regards to government i am by no means cheerleading for them or the Bank of England but they have provided some stability since October and going forward market participants will not snub a 10% yield with inflation and (hopefully) rates below 5% in my view. From my connections there is agreement that high inflation comparable to the US is turning investors away, not the tax thresholds but I agree they are too high. My point was that it won’t be the man on the street that leads the recovery, it will be professionals and institutions that pile in once investment earnings and yields are firmly ahead of inflation so the return is positive in real terms and assuming rates don’t go too high nor for too long. The question is will that be this year or next. So much else could go wrong inbetween!