Member Info for Daisan

I would be cautious about King world news. It has a very slanted viewpoint of the gold world and has frequently been proven wrong or mistimed, which amounts to the same thing in investing. Zerohedge is interesting but again I wouldn't base everything on what is an 'alternative voice'.

Eish, I am seeing a two way pull on gold at the moment. On the one hand, there are a lot of fundamentals analysts who are looking pretty favourably on gold, on the other the technical analysts that I tend to follow are pretty cautious with two in particular suggesting ambit of a drop (one more than the other). I think that the two can be rationalised as most are suggesting that 2018 could be a very good year for gold. It is just the shorter term that could present challenges. From my point of view, I am bullish on gold but would like to see $1300 exceeded by a strong move. At the moment it is looking like a significant technical barrier and if it fails this time round I could well see it licking its wounds down at $1200 or lower.

About 30k oz was hedged for September to March @ $1274/oz. That position was reduced from previous levels as they wanted to get more exposure to the gold price. I take this as a sign of optimism!

Judging by this tweet: https://twitter.com/shanta_gold/status/931501286423515137 things are going well operationally. Record throughput. Combined with the fact that we mined 37k tonnes of underground material in September and we should now be getting more consistent grade as a result of the increased number of stopes, this suggests that the production profile is likely to have risen in October. Given that this tweet is in the middle of November, I suspect that they remain optimistic. So, operationally we appear to be performing to plan if not above plan. The gold price has remained reasonably firm and combined with the hedge should mean we achieve upwards of $1275/oz (I think - I confess I haven't calculated this) which, if maintained, should provide reasonable financial figures for Q4. Over to you Tanzania.........

Well, I think that the 'bashers' as you call them have been quite clear what they are - investors who have lost a lot of money on this. I certainly don't sense that they are shorting it (an interesting proposition on RGM I should imagine) or that they are looking for an entry (lord knows there have been enough of those available).

I wouldn't be too concerned about the share price. It was inevitable that some would view their 'free' shares as a mechanism for releasing some profit from BMN besides which a lot of people would have invested in BMN in the first place as a Vanadium play so the tin is of little interest. A significant number of holders would be weak as to them they bought at 0p effectively. I also wouldn't call the IPO a failure. Demergers are quite often more subdued affairs than traditional IPOs and it takes a while to establish the equilibrium. It managed to raise �3.5m with little fanfare and to decent investors. That should keep the operation moving forward for a while to establish the enhanced pilot production before it needs to raise capital. Given the nature of the investors in the placing I am reasonably confident that institutions may see this as a worthwhile project irrespective of what smaller investors may think by voting with their feet. I am still looking for this to show signs of bottoming before buying in more here. I believe that the project has legs. It is never going to be a billion dollar operation but I do see there being value in the medium-long term.

If you look at the mining weekly article/video posted earlier there is a statement related to this, namely: "Afritin Mining aims to largely complete a bankable feasibility study for the Uis tin project to introduce project financing-related debt of about �20-million for the large-scale commercial industrial plant". So it looks like they will be looking for slightly less financed with debt but obviously this will be subject to the feasibility study and the debt markets. I would anticipate at least some form of equity component to the financing but not the full �25m.

Not the most inspiring figure but great experience, looks like he will get things done and is taking on people he is familiar with from previous projects. New resource statement in January but before that we get some drill results. So some decent news in the run up to the FS.

Perhaps tweeting that they may need £25m just after appointing Beaufort wasn't the smartest move for short term share price performance.

A very good post Bankside. Clearly our Chairman is surrounding himself with very credible people and Chaarat now has the feel of a professional outfit with real intent. Let's face it, decent finance is available for credible people with credible projects. If either one of those is lacking then life is just going to be an endless struggle to make progress. Chaarat now has both and I expect progress here to be 'Dalradian like'.

Unfortunately we have now appointed Beaufort the bucket shop as joint broker. Fortunately we have a decent sum in the bank as they will now be offering them funds which they would then spread out amongst their very dubious, short term clients.

Looks like there is no lack of shares available so somebody has seen this news as a good opportunity to sell. AIM is a funny beast.

Does bear all the hallmarks of an emerging project and considering that what is arguably one of the highest quality new gold deposits is just down the road (30% of which was sold for c. �100m) I suspect that the next couple of years are going to be interesting here. May take the market a little while to adjust as AAU is not associated with large gold deposits. Then again, neither was MARL.

Well, with a predictable legislative framework, stable production and a firm gold price this should be over 10p

Not that great a capex compared with many others (consider Mokopane (vanadium that is) for example). The revenue from the pilot will be useful not just from the perspective of providing cash but also from establishing that there is a viable operation to be had here. Hopefully a fair element of the �25m will be via debt rather than equity but there was a suggestion of equity linked in that report.

If you go onto Google Finance and type CVE:TETH you will get the current price. Last price listed is C$0.08

Actually, I would like this kept very quiet and happy for people to sell it right down as they receive their shares. Still not got mine so bemused who is selling but there you go. At some point this will stabilise, hopefully at a low level so that I can buy. Best case scenario would be valued at or near cash then I can buy a significant tin operation for virtually nothing.

Well, HL now knows that AfriTin exists but I have not yet had any allocated to my account. Hopefully tomorrow (not that I am going to sell).

Brilliant description Cgull!

Whilst these indicate the presence of gold bearing veins along strike and clearly there has been some information gained, these are not great results. Early days admittedly but the grades/widths of these strikes are not what you would hope for. Let's hope that the next round of drilling throws up something a bit more interesting. Comparison with Dalradian is obvious given the region and it is clear that the type of mineralisation is the same (narrow vein). However, there you tend to see grades improving significantly when the veins narrow with intersections of greater than 100g/t over 1.5m.