Member Info for Daisan

Ha! I get the prize for most poorly timed post of the day!

I suggest everyone turns off and comes back later. There are no shares in people's accounts and trading platforms don't recognise the epic code yet, so there is no possibility of trades until this happens. Should start seeing some this afternoon I suspect but personally I haven't even got a placeholder in my HL account which would be the normal practice.

Plus �a change, plus c'est la m�me chose

Interesting. The buying seems to have been fairly consistent over the last couple of weeks with some impressive individual buys. Quite a turnaround since mid-October.

I just noticed on Twitter that this seems to be getting quite a lot of attention lately. I don't know whether that means somebody is trying to dump a load, they are trying to get a placement away (don't follow closely enough to know whether they need one - I had thought that their cash position was reasonable) or that it is simply next in line for the investment rotation.

Very good news. Let's hope that this is the first bit of the whole!

I suggest looking at the accounts.

Apart from the share price of course which, after a 10:1 consolidation, is currently at 24c which doesn't value the company at much but should gold really come into favour it should perform extremely well now that the decks have been cleared. On the positive side the share price has been as low as 13c and very small volumes move it currently.

Well, just incase anyone actually reads this any more, there has been some progress at Orsu. Whilst it is not all unbridled good news, the Karchiga project has finally been sold (for about $2m less than anticipated) and the deal for Sergeevskoe has been revised (somewhat to the detriment of Orsu). The Orsu board do not seem like great negotiators but hey, at least the deals have been done and the new property looks to be a reasonable investment. So Orsu now has its hands on most of a 2m oz gold deposit with scope for more in an area of mature infrastructure next to a gold miner who may well be interested in buying some more at some point. Oh, and with the cash available to actually crack on and explore it properly to the point of a DFS. What is not to like?

I can't think of any company that this fits neatly into. AAZ works well because of its unique relationship with the local authorities and this would be upset by a larger operation. Whilst its properties obviously have potential the current resource is too limited to attract a major. As such, I think it unlikely that this is a takeover target. It hardly needs city rumours to suggest excellent results. The company has been flagging the positive contribution of Ugur together with the potential for restarting their main operations soon. So the 'rumours circling the city' angle is hardly necessary nor credible. AAZ I am sure will live or die by its quarterly results (the final one for this year being due in January). I am not expecting it to die.

Good to start a new board with a typo! :-)

Still seems to have some momentum but now approaching the 52 week high which is likely to give some resistance. It will be interesting to see whether it breaks up to the 30p area which is what I was expecting as a result of the last rise. May require some more news impetus to get us up there but the free float is pretty small given the concert party's holding.

When deciding whether to hold, buy or sell the original purchase price is irrelevant so you should not be suggesting different actions based on buy in price. That is one of the contributing factors to losing on the markets.

May well be true. Dekel is associated with the old lack of progress and the new regime seems to have a lot more dynamism about it and progress appears to being made. Although CGH has produced feasibility studies in the past with little reaction you suspect that this time it might follow the pattern seen in other companies. The ARS PEA springs to mind. The share price ran up significantly as the PEA release date approaches. On the day it was released the price exploded and then collapsed. It was something to behold. Let's hope that this has a significant run up as we approach BFS release.

The markets are weird and wonderful! Fascinating move today with some reasonable buying for CGH. May get more impetus as we move towards BFS and there are some drilling results to come back which may add to the love.

Agreed that this is the news that will have most significant impact but I am not expecting it until the BFS is complete. Most of these projects tend to be majority financed by debt but there tends to be a significant equity aspect so I am certainly expecting some dilution. I also believe that the guys in charge now have exceptional connections so I don't expect that there will be an issue with the financing and given their equity I doubt that they will go for a strongly dilutive and discounted placing. The costs associated with the selected processing route will be interesting given the refractory nature of the ore.

Hi pablo2, I didn't mean to imply that I have anything against Dekel. I don't. It is just that he has been marginalized over the last year or so. As a result he has had very little impact on the company so to see him go affects nothing. My reasoning in terms of the takeover likely being off the agenda is the following. Labro don't need to buy in the market, they can just make an offer for the company. This offer would have to be at least the highest price paid in the last 12 months, which is around 20p. Now, if they offered that now it would obviously be rejected. However, allowing Dekel to sell in the market would deflate the price considerably. Let's say to 10-12p. If Labro then came in with a 20p offer l suspect that it would stand a reasonable chance of being successful. So my conclusion is that Labro are now unlikely to make an offer. As a result, a higher price is beneficial to them as it limits the dilution that is still required to bring the first production operation online.

Placing?

I confess that I have not really followed the size of Dekel's holding nor really Dekel himself. He has essentially been a peripheral figure for some time now and has little impact on the company. However, doesn't he have a large number of options outstanding? If so, then he still has substantial exposure to any developments at CGH. Of more interest is what is going on with Labro and the concert party. They clearly did not want the price impacted by the sale of several million shares (nice of them) but any such impact would have made a takeover cheaper for them. Ergo, it has to be concluded that they are not going to offer for the whole company. In these circumstances having an increasing share price will ensure dilution is kept to a minimum in developing the Tulkubash project. I am somewhat uneasy that we are now in the position of having what is effectively a single entity owning 50.1% of the company should they exercise their warrants/convertibles. Whilst not unique on the market (I can think of a couple of other gold miners in a similar position) it is still not a desirable position to be in. That said, the Chairman does not seem to be making decisions currently that are detrimental to minority shareholders. I am intrigued as to what happens next although it appears more likely that we will do what I thought was least likely a year ago - develop a gold mining operation!

That has got to be a buy signal in itself! He timed his last trade in this to perfection.