Member Info for CJ66

I think it's a case of needing proof of the pudding Harry.
If the next results can show some growth, + any evidence of Dunamis at least picking up on the order book side, then a fully covered dividend / PE ratio must force the price up.
If they are lacklustre or down + any more excuses then we are in trouble!

I think the true value will only come out in the next couple of sets of results.
Institutions were happy to subscribe for more shares etc at £15+ and it was a very good (& in hindsight timely) deal with the sovereign wealth fund.
If these monies can last whilst they invest more and get due case returns then the potential holds.
The danger is if they need to raise more money, as it can become self fulfilling in that the share price has tanked and it would be far harder now to raise cheap money.
The other issue which is hard is that they have been using all the return money + more to reinvest - which is fine as a growing company - however it has spooked a cash generating question, which means if they cut back on investment to show more cash the growth and future value slows as well.
Personally I think it is worth £10-£12 but I think scenario cases can be made from £5 - £18 - tricky!

...or as of yesterdays RNS Invesco 12.7% - it may be some averaging down for a profit with such a large holding, but the share pattern since October has shown a steady rising line amongst the intra day ups & downs.
Will £10 be a psychological barrier?

1/2 year results duly out and much in line - slight price drop as lower NAV as per recent share issue (105.2p from 109.7p),
this always tends to happen with REITS distributing nearly all profit, and the only way to grow is issue more shares, seems to equal a repeated 2 steps forward and 1 back.
Cost of debt slightly higher but offset by new properties now starting to contribute, favourable rent renewals, longer lease breaks.
Positive market despite Brexit etc, has them talking of expected higher dividends for 2020, which can't be bad and a lot more than you can get from a bank!

I agree, the exploration updates on multiple targets are sounding more and more like 'when' they can add more production rather than the miners curse of 'if'.
It's also still small enough to make big impact increases, and has resisted the temptation to issue more shares - the CEO even put his own money in rather than dilute, when they were nearly bust a few years ago.
Coupled with a cash rich balance sheet and decent dividend - this to my mind is the best way to play the 'gold' card, as you actually get a return on it.
Although some geopolitical risk (Armenia, Russia etc), they seem genuine on H&Safety and social issues, + I much prefer this to Africa, where governments seem to change their minds more often.
It's still all about the price of gold - but that also looks positive for now.

...at least he told us the book value, so we could easily work it out for ourselves,
many would have just excluded that bit.
I prefer people to talk up positives of why their actions / companies. What I don't like is when it's all positive and they deliberately hide or omit any downsides....any politicians spring to mind?!

If this can hold above $600 this could be the turnaround.
I hope so as I have bought a few back that I sold a year ago.
With fairly fixed overheads the commodity price multiplies profits on both the ups & downs massively.
Don't know if any chartists out there can give an opinion on this one?!

Is this a Woodford, and are the Market Makers playing a game?
Circa 23m shares sold, and about 40k bought - so its up 1p...
Are they banking on people rushing in to buy on the pretext of an overhang has been sold, or perhaps we won't notice - if they are sells, as they seem to be, being at the sell price, then I'm not falling over to buy them just at the minute, although I do think they are a speculative buy in a general sense!

Yes could do with it climbing quickly, but if averaged down, at least the currently covered dividend is reason enough to be patient for present!

Free Float - those readily available for public trade - i.e. not held by the Directors etc....
this can effect who really controls the company, how easy it is to buy and sell shares - which in turn if low can mean greater ups & downs in price,
or less trading as institutions can get enough / lower chance of takeover (without the controllers say so)….etc

so much for £3....endless Brexit !

I think it just got a bit ahead of itself + there was some vague bid chatter + gold price has slipped a little below the $1500.
However looking in the round it is back to where it was 3 months ago & this time last year it was 70p.
It's a small low cost producer with lots of exploration going on - so longer term it's upwards - as long as the gold price stays high + it pays a good dividend now with all debts cleared....

Re Takeover article talk - agree with the - there isn't a takeover until somebody says they are making one,
and I think the share price should stand or fall on it's own merits (+ gold price).
I think if you look back in past history that an outfit consisting of some of the Presidents own family made a complete cods wallop attempt at setting up a producing gold mining company.
If wise they may feel it best to use the proven expertise - and potential outside money to get far more in taxes than trying to grab it all - and end up with none. Bird in the hand....

I know there are trades out of hours, but it appears these are usually more limited because in a non live environment the spreads apparently often increase, due to the possible difficulty of fulfilment. i.e. for the risk they expand the difference.
I speculate, but could it be that the spread now at e.g. £1.26 - £1.29 = if even larger could be prohibitive, especially as you say it seems mostly private small trades going through. Needs bigger traders, more excitement to trigger more fervent action? We seem to be in consolidation mode not £2 mode yet.

The standard LSE trading hours are 8:00 to 16:30pm,
I would almost twist it the other way and say what / how are all these trades made after 16:30?

Seems harsh down to the £1.20 level - but must admit the lower it goes the more appealing it looks to buy some more - so now I have done so!
£2 may be a while off now - but I do believe it will get there.
Interesting also in the recent messages it has clearly stated it is looking at possible acquisitions in a couple of other countries. Along with it's own exploration it has definitely got legs...

...shouldn't be too vulnerable, as it has few large holders currently and the net asset value is high & from the trading statement this will be the big story for them as it's jam tomorrow with future turnover, profit set up against the current high debt. Just got to keep wheeler dealing around selling those houses and parcels of land now!
They do seem to have multi channels to achieve this and some derisking with less direct private sales - the housing market has to hold up, but debt aside, I think they are better positioned than most housebuilders and hence my only current builders shareholding. Others have a view?

Yes, it's only a reflection of the advantageous gold price - interestingly as you say they have increased the stockpile - is this just because they can, or perhaps to then utilise the equipment elsewhere on a discovery? - but he nett effect is to be able to reduce future costs when put through for processing, and as it has been accounted for as 'stock' is also a further source of cash, that is not showing up as cash on the balance sheet currently.
Just got to keep that gold price high.....!

Shareholders must have the shares at the time of voting. It's not like an ex dividend date entitlement.
As an extreme eg you can't rock up at the AGM with 29.99% of the vote tabling getting rid of the entire board - if you have sold all the shares the day before.
Your votes - actual or electronic count as nil.
In terms of CFO's - merely states - notified of intentions to step down & valuable contributions to the group. i.e. it's under the carpet!

I agree it had got a bit ahead as everybody gets over excited - the big if is the gold price, which currently still has a positive outlook medium term.
AAZ itself has lots of positive exploration to get it's teeth into, which it can now put the money into - so I believe it has more potential upside than most.