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Interesting... Would you vote for open border's and higher taxes? My opinion; Republican house and Congress - DXY 100 Democrats house and Congress - DXY 80 Split - DXY 85 If the Republicans hold it will be interesting to see if Trump trys to take control of the Federal reserve
If you happen to be a billionaire who has won the presidency of the most powerful nation in the world while spending less than a quarter of your opponent then you are welcome to insinuate that Trump is an idiot. If you are not - I would suggest you keep your opinions to your self
Tibbles this board is for discussing CEY performance not politics. Keep your opinions and your guardian inspired propaganda to yourself please. Trump is a much smarter guy than any of us and my personal opinion is that he will be remembered as the greatest president of the United States in living memory. On a more relevant topic looks like DXY could be in the process of a double top. If confirmed gold will break out.
Can't see an equity raise at the moment or a debt for equity swap that wouldn't raise enough but the government won't dare let them go under. I expect they will underwrite the debt in return for cost cutting promises and bring in some new management. If it drops below 10p I think it's worth a small punt...
Might pounce here if it crashes on the open tomorrow. They have a lot of assets that they could sell to increase working capital over the medium term. I can't see them failing to get some sort of deal... Remember Glencore similar story here I think
So loan covenants will probably require maintaining a positive earnings ratio or EBIT which won't happen this year... Interesting when covenant testing is due to commence? Provided AUE are profitable by then they should be fine as no bank would try to default a cash flow positive business... The big question then seems to be what is aureus minings operational status and can they deliver profitable ounces by December...
Gold price was due a pull back, It happens every year while china is closed... Should bounce back next week, Agreed still many risks here, please don't anyone gamble their life savings or there pension pot on this dog... I am just trying to make my point that the anticipated placing will almost certainly be open to all market participants as MNG would be on very dodgy ground otherwise... I fully expect that they will tap current investors for cash but will not want to dilute their holding so they will make sure the mine is running profitably first Of course I could be wrong on this but lets hope not...
If they could raise they would have by now, No placing until they complete the mine plan and get approval for the full restart. They will need to show potential investors that they are not throwing good money after bad and they will not accept a lower price than the 3.1p paid by MNG Raise at 5p IMV, buying at this price is free money...
Agreed gecko If they wanted to dilute us out they would have raised all ready... I think they will wait until they have some numbers to show the markets (new mine plan)
They can't raise a placing just for themselves All major stakeholders would have to be eligible If they offer equity at a price below what they paid it would diminish their initial investment I don't think they would be that stupid unless they are absolutely desperate...
Any placing will be at a higher price than MNG paid so shares at this price should be free money... I expect we will see the new mine plan and get some production figures first though...
Mid October sounds about right to me Sambora should coincide with news on debt rescheduling. I suspect if we hear anything before then it won't be good news...
Flipsome I take it you are expecting something like "Not spunked 300 million on a mine that should have cost 100 million and remains utterly unfit for purpose despite 12 months of optimization"....
GradeController, Thanks for your input! Ignore the rainbow brigade, I and many others on here greatly value your industry experience and information, all of which has proved correct so far... Personally I thought the Q2 operational update wasn't that bad, reading between the lines if they had poured and shipped 3500 ounces at the date of the RNS then I expect that they are not that far away from nameplate capacity if we assume a late June start up and at least 3 weeks of start/stop operation / low grade ore / testing The worrying bit was the "adverse affect on unit cost" and the "still undercapitalized" I dont think we will break below previous lows unless there is more bad news but a return to 2.25-2.5 is possible which would be a good place to top up IMV
Agreed Gecko At this SP you get quite a few shares for your money though!! Still a risky gamble but IMV the risk of near term bankruptcy is gone and MNG's recent buy in should put a floor under any placing IFC have about 20 million ish left by my count Hoping for a 2.5p entry...
Please do me a favour! Open your web browser and do some basic research on how shares are traded! I would also advize you to conduct similar research with regards to grant of options! Thanks . Bryn
Couple of late trades visible now Looks like another few million were dumped yesterday...
Hi Sam Personally I will hold... This has sold off due to IFC dumping ~ 20 million shares on an illiquid market and the risk of a further placing. Long term risk/reward looks good to me... I can't see any further fund raising being below the last placing price as MNG will not want to see their 30 million investment diminished. It would also raise anti trust questions... The main risks here have been taken away and we know they are producing Gold and have a huge ROM stockpile in place... Q4 will almost certainly be positve and Q3 will probably show at least 1 month of positive earnings I will add a few when I think IFC are sold out...