Member Info for Daisan

"Tanzania's new Mining Commission sat for the first-time last week and indicated that it was open to engaging with companies to ensure the economic success of projects within the frame work of the current mining legislation." Perhaps the Tanzanian authorities are moving on to the practical stage rather than happily watch inward investment dry up completely.

muffitbuffett, BMN's resource is about the same size when you factor in their ownership percentage (of Mokopane, Vametco and Brits).

Chartist2, Perhaps you could direct me to the interviews where the directors stated that they will not issue new equity? Thanks.

That's a real disappointment. His interviews will be greatly missed and let's not forget that he is also pretty good at his job! I suspect that his replacement will be of equal calibre given the prospects at Beutong and KSK although I doubt whether he/she will be able to replace his enthusiasm.

It's moot anyway as it only makes it slightly less undervalued!

I checked that. He does in the first place but then goes back to the dollar figure to calculate BMN attributable. So total Vametco EBITDA = $29.601m BMN attributable (59.1%) = $17,494,191

SOTRR, In general I agree but your calculation of BMN attributed is USD rather than GBP. So BMN is attributed US$17,494,191 EBITDA in Q1 or �13,103,849.

Q2 actually but just one quarter.

For 'resistance' read 'support'?

AIMforprofit, Is this based in the UK? If so, my experience of dealing with customers on technology sales (admittedly software and services) is that it is painfully slow. The UK is extremely conservative in picking up new technology at the B2B level and sales cycles are slow. Just need to keep plugging away and eventually it will come.

Based on $69/kg in Q2 (bearing in mind this is FeV rather than Nitrovan), I have my worst case scenario cash generation for BMN's share of Vametco coming in at $18.35m and my best case scenario coming in at $28.5m. This includes all royalties and production costs but not tax. If Nitrovan is maintaining its premium then the amounts go up accordingly.

Sweet100, Whilst I appreciate the argument, I have been hearing the same (from the likes of King world news) for the last 5 years. I understand the Deutsche Bank derivative situation (but there is absolutely no evidence that it is mainly based in Venezuela that I can see) but the figures bandied about are total exposure. Even in the event of a full blown financial crisis, the actual outcome would likely get nowhere near this. That said, their situation is bad and I do expect Deutsche to go under in the next financial crisis. I just don't expect it to cause it. I do expect another financial crisis and I expect it to be worse that the last as Gordon Brown kicked the problem down the road rather than solved it. (I can just see the discussion now - let's do this - it won't solve the problems, in fact it will make them much worse, but the stuff won't hit the fan until we are retired!). I just don't expect it to be now or in the next year or so. As I indicated, I expect the S&P500 to exceed 3000 by quite a bit before the party stops. In the meantime I expect gold to initially struggle before it begins to gain traction. I do expect a record high in gold as well in the next 2-3 years so am positioning myself accordingly.

You can't fault their ambitions. It is going to be a hell of a ride if they can make progress on pulling relatively cheap assets together. I tend to believe that the next few years are going to be very good for gold (although the short term could be challenging) so now would be a good time to strike.

"Make every effort" means nothing. Just placatory speak. Now, if he had said "best endeavours" that would have meant a great deal more. This looks more and more like a possible deal. So much going for it from a Kyrgyzstan point of view. Even more for Chaarat and still not bad for Centerra as it removes a headache and provides cash to advance other projects that are more of a focus for them.

You are right and wrong! They must have enough for 12 months to cover working capital. This raise has been indicated as being to upgrade the pilot and to accelerate other work. As such, it is not for working capital purposes. I have nothing against the uses of the capital. Unsuspecting that they have been 'sold to' by certain parties who wanted to buy at a preferential rate.

Both up 15% in the last year and have both broken out of a wedge formation to the upside. I would not be surprised by both reaching record highs in the not too distant future and I am expecting the S&P 500 to break 3000 barring a black swan event.

I don't think that there is any reason to consider conspiracy theories (I think we have been here before!). The share price is behaving pretty typically of an AIM share that has risen sharply. The rise can be unwound significantly without upsetting the long term bullish trend. If you want to see a current extreme example of this, have a look at BBSN. Up 370% yesterday then rose a further 30% this morning before dropping 50%! Now that is volatility. My biggest concern with a lot of AIM shares currently is PWC liquidating positions held in Beaufort nominee accounts. They have indicated costs of up to �100m which would come directly from dumping positions in AIM stocks. I doubt whether they would particularly care about the impact that this would have on the market capitalisations (or the people they are taking this money from).

Well, you could look at it several ways. A 26% discount to yesterday, a 37% discount to the peak, a 35% premium to the recent 2p trading or a 31% discount to the last placing (on admission). For me, the last of these is the most significant. You like to see raising at progressively higher levels otherwise, on AIM at least, you begin to establish a trend and a reputation. On another negative note, this is stated as only open to institutional investors, meaning compulsory dilution for existing shareholders. However, it may be that you can contact WH Ireland to participate. On the positive side, the options are not taking the p*ss. The conversion prices are reasonable (and a significant premium to the raise) and the timescales are not huge. Another positive is that there are no warrants attached. This will fall sharply on opening. The only real question is how low it will go. Accepted wisdom on AIM is that it falls to the placing price. This is not always the case but I have seen many occasions when it has or worse even. The most annoying case is when it doesn't initially, seems to recover and then begins a slow relentless drop to the placing price. I will stick my neck out and suggest that this will avoid going all the way to 2.7p. I am guessing 3p as a floor.

I wasn't aware I was being negative! The only comment I made when you made yours was to comment on TA. No matter.

If that is a buy, and I have no reason to doubt what you say, then there is some even bigger sells to be printed if it was NT to sell at the end. Interestingly to understand where the large volume of sells is coming from.