Member Info for Cnutgoestheeasal

Is the wider situation in South Africa. For example at the micro level the mine is still exposed to blackouts even though it is not in the same situation as other such as Goldplat having a more direct connection to the grid. It would have helped to know whether as far as THS is concerned the situation is getting better or worse. Worse I suspect as I believe one of the Eskom bigwigs resigned the other day. The other useful update would have been progress on the solar plant. Now that's one piece of capital expenditure likely to pay dividends. At least for the SA mine.

Also the main macro reason is the social/political situation in SA. Just imagine what happens if J Malumba and Co get in.

I suspect Mr Market is imagining just that and hence the ridiculously low price.

Tharissa - what say you?

By my estimation the company will still be churning out good profits, particularly on chrome. Whilst Zimbabwe looks ill timed the company shouldn't be too financially stressed building it so I don't see anything too sinister. The dividend should also be secure albeit for the moment being paid out of increased debts

All small companies not least minors have been caned recently. Mr Market is not interested. However, I'm happy to take the dividend and wait for Mr Market to change her mind.

For god's sake I've been bleeped out for the word S P A R S E. Yes it contains a syllable that could be interpreted as a naughty word but when you add it to SP it becomes a descriptive word. Bleep out descriptive words and you lose the ability to describe!

If this is the best AI can do I'm shorting NVIDIA!

hmm it seems from the very sp**** comments that the main problem is with the locals. presumably telling them that they have to get trained and do productive work if they want to be paid and that they can't carry on with artisanal mining. the one example he gave of not shifting ore to the right place at the right time in order to feed the mill seemed to confirm this. a few more examples of the problems they need to fix and how they intend to tackle them would have helped. also i note no update on the amount of gold poured. i've seen other presentations where the interviewee can give info right up to the day before and if he had a good story to tell i'm sure he would have told it. he didn't so he hasn't!

they need to sort out these issues in the next 2.5 months otherwise there will be serious problems financing their mountain of debt.

it's very much a binary outcome. hence the low price.

What a truly bizarre interview. Bill showed that he was well up in all the positive exploration and production development taking place but as for the elephant in the room not a peep! Without the ability to use the tailings dams nothing will be produced. No money coming in and no guarantee of the company's future.

No wonder the share price was going down. Presumably the interview was warned off the subject but it didn't reflect well on proactive investors nor AAZ.

Currently down 17%

The share is flat on it's back. If Steve knew something when he bought Mr Market is not seeing it!

Hmmm. No mention of the feedback given by the villagers. Hopefully the promises of extra bribe dosh, sorry ESG money will help

Just for a moment suppose that Kourrousa was say up to 50% of nameplate. That's say 120 divided by 2 divided by 4 in the last quarter. That's 15k of gold production and they sure as hell would be telling the whole world about it in the interim report even though there were a few days remaining.

What we got as a gnomic reference to 1k ounces . In short they have major problems. Dunno whether it's the plant or which part or the feed but they need to fes up at the Q3 update.

Dibs - I take your point about not getting carried away but from the summary I have read there is nothing wrong with the tailings dam. It passed all technical tests.

The issue is with expanding it. The report didn't criticise its design aspects or the way in which the company wished to implement it but rather said they needed to improve its communications. Not sure how you measure "communications" or judge sufficient progress is being made so that flotation can start again....

I recall our conversation and I have to give it to you, you called it spot on. I've not invested because of that call. Glad I didn't!

Looking at the tea leaves and as much is not said as is said I would conclude as follows:

One the plus side DB proves yet again his ability to raise more debt. Mind you the old adage about owing the bank £1 and owing it £1b holds here.

Kouroussa. We are still not a full production or anything like it. This is the main reason for the debt crunch. We are promised full year production for 2024 which implies getting it up to nameplate by end Q4. That is poor. Just compare the timelines with Singida - Shanta Gold.

HUM will be working for the bank for the next 3 years. the new loans are 12%. Crikes!!! Don't expect any payback until then and hope there is still some decent reserves left for us poor shareholders to benefit from.

Yanfolila looks to have a least stabilised for the moment but at an AISC of 1500 and gold at 1880 don't expect much contribution from this source in paying off debt.

Despite what has been said elsewhere in this Board a falling gold price and rising oil price (expressed in $) is bad news. If this is sustained, a squeeze is coming for all gold miners.

So good luck all of you, especially those taking the plunge!

I wonder if it is rearing its ugly head in Azerbaijan. They've just won a major political/military victory and I wonder whether they now think they can poke western investors in the eye.

Otherwise why is the report being delayed?

You'd think. However the govt of Mali are taking far too long with this. I'm waiting until I see proof positive they have a production license!

Implicit in your argument is that taking the company private results in a hiatus in the development of the mine.

I don't see that. From 3B's point of view if he can't get the right sale price then he needs option 2 which is to develop the mine. However, AIM is a cr*p place to raise the necessary capital and anyway why share the gain with smuks like us who've taken on the lion's share of the risk. No grab the company for a song, then move swiftly without the encumbrances of a listed company to get round all the various roadblocks e.g. US sanctions that catalysed his decision to sell and make a killing.

While we sit on the sideliners and can only watch....

Up with BenBen on this one.

Clearly big boss billionaire can't get the price he wants and because 3Bs are naturally greedy he'll get it from the next best way, by stitching up the little guy. That's you and me in plain english.

Drift the price down to 15p and expectations will be adjusted downwards and when he generously offers to help us out of our misery at 25p we'll be gagging for it.

Just wait....

Crazy share price but not unusual for AIM junior goldies. All we investors can do is keep our interest up choose proper gold miners (not spivs sitting on top of a heap of dirt) and wait until the tech madness passes. As long as companies such as SRB continue to manage their business well then eventually the price will correct. Of course eventually could be a long long time.

Also SRB still have to navigate the small local difficulty of converting the temporary license for Coringa into a proper production one before next year's deadline.

I wonder what the record is between announcing a sale and finally concluding it's time to knock it on the head. I'm guessing the investment bank conducting the sale process must be getting peed off since they vast majority of their earnings from this is conditional on a sale.

Seriously though tweeting stuff rather than announcing formally on an RNS is out of order...

Hmm Punter I take your point in general but I know from talking to him that HUM's Dan Betts might disagree with you about how easy it is to build and operate a gold mine!

Let's just say that they've been through an interesting learning curve...

Thanks for the posts guys - particularly bangrak. It puts into perspective the current valuation. I'm OK with my holding at current prices but clearly upwards potential is limited by P6E prices particularly rhodium.

On another note I've always used Investegate for RNS research and alerts but it's recently gone kaputt. The new guys are struggling to resurrect any sort of decent service. The RNS alert for SLP reached at 4pm yesterday. Not ideal.

Any recommendations for an alternative?

Can't why this hasn't been taken out by a PE predator. The majority of investments are semi liquid. Would be easy to make a quick buck

Typo - should have read projected AISIC. Who knows what the overall AISIC will be at the end of the life of mine....?