Member Info for CaveatEmptor

Not sure how many saw my last post, but it has been removed and I got a yellow card from Admin - somebody must have reported me for sharing a conversation had earlier today? First time it has happened to me in over 5,000 posts, so I guess it's one to cross off the bucket list.
Suffice to say I agree with the last few posts here. Particularly Blue's

We PIs have now been given the opportunity to fill our boots at a 10-20% discount to the recent placing so the only ones with cause for complaint are those that forked out £1.5M at 8.5p per share..
They may have to wait a little while before they turn a profit on their investments?

Could have something to do with this:

Tern Plc (AIM:TERN), the investment company specialising in the Internet of Things ("IoT"), announces that it has raised £1.5 million before expenses through a subscription of 17,647,058 new ordinary shares of 0.02p each (the "Subscription Shares") at a price of 8.5 pence per new ordinary share (the "Issue Price") (the "Subscription"), conditional upon admission to AIM.

If so, then now over-sold and due a bounce before next news?

Am not expecting any Fair Bride news any time soon TBH. Covid seems to be doing a pretty good job ensuring an enduring lock-down there.

However Q2 alluvial results should now be due and that will at least include an update on any improvement made to production by the spares delivered in May.

Also no reason why the new alluvials and hard rock contracts can't be signed in preparation for a return to normality?
Then there is Kalengwa- apparently all the required equipment is already available so no border problems - I have said for a while now this could be a wild card in the XTR portfolio and with the increasing price of copper it could be played sooner than many think.

So quite a lot to look forward to, despite 'unprecedented times'

Long time ago so difficult to remember exact figures, but back in the day didn't JP pull off a £10M placing with 'supportive institutional investors' at something like a 20% PREMIUM to the then current SP? Again, from memory, that was the start of the increase in SP to £1 and the heady dreams of many investors that then owned a £1Bn AIM company that could only make everybody rich...

Beware apparently advantageous equity placing- we've been there before...
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As the Oz deal will result in an additional member on our board it is highly unlikely that member of our board would want to found out to be, effectively, shorting the company so I think the Oz shares, when issued, will be in safe hands.

Hello Andrew,
That thought did also occur to me it would make sense on many different levels and once the structure is in place , would be easy to do...

Not forgetting BZT and TIR - that makes a stable of five companies - all with similar assets and interests, mainly centred on gold and, increasingly, copper. I hear that Jubilee will also work with BZT and XTR and that an Australian will be brought on board to manage the hard rock in Manica.

Lots to keep us interested over the coming months...

Hate to rain on anybody's parade, but over - optimism has caused a lot of heartache in this company over the years. Predictions of 2p are great but not likely in the short term. By all means invest to multi bag- that's why I'm here , but don't expect it in the short term. More of a SIPP investment at the moment, IMO , but a great investment nonetheless.

The way it is going, could break $1,900 overnight - particularly if the Asian markets are bullish... and they have been recently.

Would make a pleasant change from "the assets selling themselves" as that tactic has not been a great success thus far...

I agree Andrew,

Gold is like any other trading commodity - a lot is dependent on world events and resulting sentiment. With the USA sending in the troops all over the shop and many countries facing prolonged financial reversal due to Covid19, I can easily see the POG reaching $1900 in the short term, and once that is breached then $2,000 could quickly follow.
Let's hope that CB signs those contracts soon so that we can take full advantage of the increase.

Incidentally, as we got $1,600 per oz for the gold in our last reported quarter, what sort of a difference would the extra $250 per oz, together with the increased production, make in the current period? - Maybe even turning a profit at corporate level already?

Many thanks, both, for your updates.

Very much as I expected, as you will have realised from my questions.

Whilst potential remains high here, looks like we will have to wait quite a bit longer for it to be realised...

Back to those tricky knots...

Many thanks Gixxer. I look forward to hearing the answers.

I know what you mean - a tough job, but somebody has to endure it, oo-errr, Matron!

I'm tied up over the weekend so won't be available for the event. However, if anybody here does get a chance to pose some questions, the first on my list would be "What has happened to the two contracts that were supposed to have been awarded by the end of June to give short term income whilst awaiting full scale HR production from Fair Bride?"

My second question would be " Are we still on schedule to have significantly increased income by the end of September - and, if not, what is a realistic revised schedule"

Direct answers to these questions, if positive, would go a long way towards restoring some confidence and optimism here and, if negative, we will at least know where we stand...

Unless, of course, the question is answered via RNS before then...

Many thanks TT - and I guess that doesn't take into account the cash spent on on-going capitalisation of the Zambian Sable Refinery?

Pretty impressive for 4 months of production from a junior with an MC of less than £85M.

A cash position of £10.8M is certainly a good place to be in, but due to content inconsistencies in the financial updates I am finding it hard to calculate exactly how much the cash has increased over H2 2019. Does anybody know what the cash position was on Dec 31st 2019?

Many thanks in advance.

Not sure it was a bed and ISA as there would have been an 8% broker premium on it?

Any half way decent broker would do a bed and ISA of that size for less than 1%.

Although I do agree that it is an unusual number of shares for it to be a coincidence - so maybe somebody using automated trading rather than speaking direct to a broker - if so then an expensive mistake at it has cost about £900 more than it needed to...

Interesting that JLP managed to increase its CIB over H" with only 4 months of production and 6 months of overhead - and att he same time pay off almost £4M of debt.

This means that , even without addition revenues being included , with 6 months of full production the existing plays should show an operational half year profit of around £7M for H2 2020.

That alone should be enough to more than justify the current SP and we know that revenues are set for a significant increase in the current F/Y - so, yes an SP of 11p is possible, maybe even inevitable, but not just yet...

True, Jonah,

I don't post here very often as it is a relatively minor investment for me, but did he not also say that the copper expenditure would be needed only for the next 12 months or so and that, (with the substantially increased income generated as a result of the expenditure), dividends would certainly then be considered by the BoD?

So potentially only 12-18 months until dividends are paid here?

If so , looking at current profits being made as well as additional potential profits due to be made over the next 2-3 years, even a relatively modest dividend paid in two years time would represent an excellent return on the investment paid for shares at the current price ( not to mention the resulting increase in SP) - so definitely one for medium - long term growth and an excellent candidate for a SIPP IMO, which is why I have recently added 300.000 shares to mine.

ATB.