Member Info for Daisan

Not sure what difference that makes. They have a fixed conversion price.

Well, at least that sheds some potential light on the trading lately.

Steven49, Would you really sell a significant percentage of KSK when you have no idea of what is there for most of it? Before you gave an understanding of what might be at Baroi for instance? Before they have deep drilled into the suspected porphyry(s). You would get a fraction of their worth. Personally I would rather they had a large placing.

Bligh. Tough crowd today.

From what I can see there is a gradual increase in the price paid this morning and the price has ticked up twice.

Mick-b, The problem with that is that at the important moments this correlation often does not hold. The 2007 financial crisis was a case in point. The dollar and gold rose in tandem. At precisely the point when traditional links suggested that you should sell gold and miners you would have missed one of the best opportunities in a generation.

Ducati, I was referring to the gold price rather than the share price. There isn't enough strength in the market to challenge the all time highs of 2011. We need to see the gold price take a dip to flush out the remaining bullishness so that we can get to a base from which to rise. Patryk221, The share price has been reacting to Tanzanian policy at a point when capex was high which made the company vulnerable but a gold miner will never disconnect itself from the gold price over the longer term and a sharp drop in gold would certainly influence the price. At the very least it would blunt a rise.

We are once again reminded of Mansur Geiger's words relating to KSK. At each stage the results of drilling surprise positively and more and more there are allusions to potential porphyry intrusions at a deeper level. At some point soon they are going to actually drill deeper to test this theory (this was mentioned in Steve's interview yesterday). It will be interesting to see what they hit but surely we can't be sitting on multiple surface deposits with just a single system beneath? 50km x 50km?

I would not be looking to sell a percentage of KSK at this stage. Too many unknowns with the real potential for some of these to be very large indeed. A JV on BKM may well be on the cards. Personally I would prove up Beutong a bit more and sell a part of that to fund KSK exploration. Beutong may be sizeable but it's going to take a sizeable budget to get to the point of production as well and that will require help from a significant entity.

Technically gold is at a critical juncture. I had thought that the $1300 level (give or take $10-20) would hold but it is perilously close to being soundly broken. If that is the case then we could be seeing a precipitous drop (which I had been looking for for months but which I had given up on for a rather more immediately bullish view). Such a drop could take gold down quite some way quite quickly, although there are various points along the way that it may reverse at. I confess that a sharp drop was my preferred option as it would turn market sentiment towards gold extremely bearish which we need to see for an assault on all time highs. Otherwise we could see a continued meandering.

Hmmm. I don't know what to think about Silver Mountain after watching Steve's video. The suggestion is that this was condemnation drilling so they are looking for an area without a significant ore body. He has the results but hasn't released them yet. Could be good, could be nothing but you half suspect that they are on the cusp!

One would hope at some point before Armageddon but I wouldn't bet on it. They are getting a very nice income from the cash and Polymetal's dividends so no real incentive to do much of anything. If they actually did do something positive then the share price would have every reason to rocket given the market capitalisation to net asset ratio.

Whilst it is certainly true that the full NPV will not come into play until the project is producing, nevertheless a mining licence will mean that some value can be attributed. At the moment I would suggest that very little is attributed. Bearing in mind the market capitalisation for all of the projects before Vametco came on the scene it is clear that this is the case. In the normal course of events, a mining licence would make some but not an enormous difference as the market tends to value on the basis of the potential for significant revenue flows in a definable timescale. I would suggest here that there is a difference here in the fact that there is a production asset that is generating significant free cash. Whilst the priority is to grab the low hanging fruit that is Vametco production increases and Sojitz's stake, I suspect that there is sufficient to progress Mokopane to some extent. Throw in the fact that it has been suggested that Mokopane could commence by exporting ore that has undergone limited processing and it may be that existing cash flows can take this through to revenue generation. If that is the case then there is certainly a valid argument for adding value on the back of a mining licence. I would caution, however, that the NPV for an operation that is shipping ore rather than V2O5 will be lower, although obviously the increase in price of Vanadium would have a materially beneficial impact.

This is a fairly typical reaction and I doubt whether this has anything to do with placements. Once some people realise that the price is not going to surge on the back of news, they move on to the next shiny thing where they can continue to lose money! The resource for BKZ was never going to be standalone and we see from this that it is a nice addition to BKM with the potential for extending the copper as well via the link zone. The fact that there is a high grade core with a low grade outer zone suggests that there may not be an awful lot more of the polymetallic deposit to discover in this area. The VMS mention was interesting. Of more interest is the indication of the potential for a deeper porphyry which, if true, is very significant indeed and this should be a priority (along with all the other priorities!). Of equal interest are all the other high priority targets. Silver mountain may well have some eye catching drill results and this should capture the markets attention. As should a forestry permit for Baroi.

YTSS, By the sounds of things investment trusts look like they fit your risk profile quite well so I would stick largely with them with the occasional flutter on a play with more risk/reward potential (such as BMN). Your investment trust seems to be paying a significant amount of dividend. The tax on dividends I believe kicks in when dividends go over �2000 from this year. Anything over this will be taxed (you need to check out precisely how because I don't know your specific circumstances). As such, this would be more tax effective in an ISA. However, you would need to sell the shares and buy them back in the ISA wrapper. Of course, you don't need to buy the same IT in this case and it makes sense to buy a range of trusts to reduce the risk somewhat. I would also consider growth trusts rather than just income trusts and adding some to a SIPP as these will be rewarded up front with tax relief but not penalised by taxing the dividend (pensions do not benefit from the dividend tax free allowance). That is the approach I would take but, as faramog has suggested, a financial advisor would probably be a good idea (when it comes to retirement planning I believe that you can buy up to �500 worth of advise utilising money from within a pension plan which would make it more tax efficient).

Sparkyboy1, I suspect that the share price will react very positively indeed should the offer be successful. This would be transformative and CGH will be viewed in a totally different light, firstly from the perspective of operating a world class mine, secondly because it opens up the way to development of their assets and thirdly because it adds enormous credibility to the BoDs and their plan to unify gold operations in the FSU. If this wasn't suspended I would be surprised if this wasn't double the current price. As to how positively depends on the structure of the financial solution from a CGH perspective. Principally, the level of dilution and at what price but also the nature of the debt. When this will resolve is anybody's guess but it is more likely to be measured in months. They may agree a deal but if you look at the suspension RNS this is suspended pending an admission document, i.e. it is a reverse takeover (I believe the type of deal we are seeing here can sometimes avoid the need for an admission document but clearly it is felt that this is not the case here). Admission documents are large, cumbersome things and take some time to pull together. In this case they will do it professionally and within a reasonable timeframe but I suspect that we are talking 3 months before completion. However, I do not know how advanced it is - it may be that this was started a month ago. I suggest just sitting back and seeing what transpires.

The more I consider this situation, the more I think that it has a reasonable chance of success. I can't wait to hear what the parliamentary debate comes up with. Most likely nothing definitive but if they do come decisively down on the side of CGH then Centerra will most likely come to the negotiating table as it will be almost game over. The government hold the strongest hand here and CGH are allowing them to play it. Of course, if parliament come up with nothing definitive then the likely outcome will just be a negotiating process between Centerra and the government to extract more from Centerra. The likely swinging factor will be how credibly the government view CGH and the BoDs. I believe that we have some reason for optimism here.

Looks to me like we have a fairly significant seller (once you have unravelled the delayed trades - such a helpful practice!).

This is a somewhat different situation to MCC as the asset is already owned by the company and the situation is clear. I confess my reading of the RNS was that they had hoped to get away with continuing trading (after all, this is AIM and anything goes) but had had their shoulders tapped. An admission document is very large and will require time to put together. Don't expect to read it in full when it turns up unless you suffer from insomnia.

How late can it be in a month and still qualify as early? :-) I am hoping for this week as next is pushing the concept of 'early' just a little too far!