Member Info for daramuda

I have no idea. Numis were appointed to boost the sp. Perhaps the wrong broker. What we have are small sells that are moving the price down. Makes by buy of a about two weeks ago seem ill judged but then it is worse for Gib's buy of 70K +. Maybe Gibraltar or Corbine have an answer. Thanks for Alibaba. I will give it a shot later.

Understood. You may be able to help in that I cannot find a website which can give me rutile prices ether spot or forecast without paying a subscription. Consensus gives a kind of forecast. If you can help I would be grateful. Lead zinc copper and the like give me no problem but rutile does!! The answer is in part increasing production as well as keeping costs under control so that any improvement in margins will benefit the bottom line.

interesting but.....the difference in view from that of Gibraltar!!!

You stated Monday that you thought that it was a question of time before SRX was taken private; are you still of that opinion?

I have to trust a ceo hen he looks you in the eye and in response to a question why have Numis been appointed (third joint broker) and tells you that the stock is under priced and they are there to boost it, He also talked about a plan to list the company on the main market via an IPO because there are not shares of 25% of the issued stock in the free market at a price approaching the £1 but necessarily at that amount so that Pala could off load some and new investors would come in. Also as I gathered part of the Numis appointment. I am invested in another stock where a broker has been appointed to help raise funds and they have issued three notes already. Accordingly what are Numis doing? Of course it is possible since the story is good that aii is playing with the stock selling stock off and then buying it back later so that the stock stays within a trading range - but that is a speculative theory. There is nothing that I know that is going wrong from what I was told at the agm. a frustrated daramuda.

loss to understand the weakness in this stock. The board members present at the agm including Sisay were bullish about the prospects of the company. Numis were appointed amongst other things to boost the share price which Sisay told me is very much under priced. I appreciate that we are in the middle of the summer season and the market is unsettled by Greece but anyone with any ideas?

If the proposal is fair there will be no need to vote it down.

If you do some research by working out how many shares are owned by Pala and the institutions and then deduct that total figure from the number of issued shares (c 522 million) you will find that there are in the round not that many shares in pis hands. Gibraltar and Corbine speak for a large fraction of those "free" shares and I do not believe that they are sellers - indeed Gibraltar posted here last Thursday that he had that day purchased another 70 K plus. It is those free shares that are being bought and sold and that is having the effect of creating a narrow price band in which they are traded. You can do worse than reading the Q2 results recently released. Production is up. Costs are down. And also Ebola is on the wane although it did not affect SRX directly throughout the crisis. I bought more recently. I cannot see this stock as anything other than buy whilst they are cheap with an exit at a price over 80 pence in due course. Pala will want to cash in their chips as soon as possible and with the Gangama dry mine coming into production in 2016 all seems well to me.

wrong. There has never been a requirement to get the equity/debt-off take finance before the grant of the licence. That was a red herring introduced by Thomson (acting chairman) for the day in order to persuade us pis who were at the AGM to vote in favour of Resolution 8. We were not persuaded because the argument was without foundation, The same argument was promulgated by him during the conference call and knocked down by James Beams who conducted the conference call with him. Now think about it. Approximately $28 million is required for working capital and equity debt off take to build the mine structures and the plane in readiness to produce zinc lead and silver for sale. Who would be able to structure such deals if there was no licence in place? No one. Therefore I would suggest that it is pointless facilitating that proposition further.

Thank you both. The scenario may be that Pala have made it clear to the ceo that Pala want a return (Gibraltar;s point that they are turnaround specialists who like a return on their time and investment). The ceo sees a way of keeping the company listed and not acquired by say Pala and taken private. His plan is an IPo o attract new investors and enable Pala to release stock at say £1 ps. Gibraltar has stated several times that he sees a take out at £1-£1.25. It maybe that the ceo sees a way of enabling Pala to get a return but not a complete sale of Pala's investment. All speculation of course but either way something will happen and the share price will grow exponentially.

Good luck with your 70k plus purchases Thursday. You must be heading for 4.5 million shares. You are so right, investors should not forget that SRX reached 84 pence not that long ago. The problem of Ebola is fading; costs are back under control; production is on the increase and with Gangama open next year production will increase exponentially. We cannot rule a bid but irrespective of that if John Sisay is working towards a mail market listing with an IPO to bring in additional institutional investors and a sustainable dividend there is plenty to look forward to. SRX stock is seriously undervalued. Should management develop sales into China and alternatively should the sale price of rutile firm profitability should increase at a rate of knots.

Yes - quite possibly but not put to me just like that. But JS considers the stock well undervalued; looking for short/med rise to 45 pence (say by end September) and has his sights set on a main market listing. At that point I raised the 25% free float position or lack of it which is when his views developed. As Gibraltar has continually stated the stock is undervalued and has to be a buy at these levels. If rockazioni is suggesting that SRX has too high a market cap I fundamentally consider he/she is wrong.

I have to agree with you. I made a mistake when I posted about my chat with the chairman in that I must have misread his comments about record days of production in that the figure I quoted has to have been wrong on looking at the overall annual t/o. There have been some new cases in a pocket of SL away from the SRX sites. Sisay is adamant that the stock is undervalued hence the appointment of Numis to promote the stock. They are working up to s dividend but that is more likely to come when the Gangama Dry mine is onstream next year. obviously a fillip in the price of rutile would not go amiss. On the other hand behind the scenes for all we know Gibraltar may be correct that there may be a take out but that was not the message I got in my discussions. More like a move to the main market with an IPO enabling Pala to release some stock and new investors coming on board. But you never know. The usual culprits gib and corbine have gone quiet. I have added some over the last few weeks. Barring another disaster we could still have some fun.

Wondering when Numis will prepar and release a note on the company.

In brief the agri first phase has gone well. There is more land that could be farmed in addition to that in the jv agreement but we have to wait to see how the new JV works/hopefully succeeds. I recall Corbine has previously mentioned certain of the land needs cooperation from one or more of five chieftans. Production of rutile is going well - during a couple of weeks as much as 40K tons was produced if I understood fully having come in on the tail of a conversation. Rare earths are on hold because of the cost of developing same with cash being used to promote production of rutile. That is not to say that in due course REs will not be developed. They have not gone anywhere so they are still there to earn for the company in due course. JS hopeful of expansion with purchasers in Japan and developing in China. That should help with firming of rutile prices. China has no rutile of its own - must look to the outside. JS clearly believes that the stock is undervalued. Numis have been brought in to promote the stock - not because of an Investec conflict of interest. There has been a form of roadshow in Europe to encourage new investors with a view in due course to seek a full market listing and for Pala to release stock (25% rule) but the price has to increase first for Pala to cash in some stock. Thus a form of IPO which would also need the support of new investors. That without mention negated the view that the company was being lined up to be taken out. He wants to see SRX on main market and will be going nowhere for 2-3 years despite speculation about the Presidency. The chairman found it difficult to answer my question about the game plan for dividends because of nomad restrictions but pointed to increased production with the G mine when built to which I raised the future anticipated production growth in the chart in the annual report and increases in production, He agreed with my thinking. So not immediate but all being well it will happen as production increases exponentially. In summary JS wants to get the sp up to 45 pence minimum and ultimately double that. Aiming for FTSE 250 but recognises that without sustainable dividends the chances of that are limited and tracker funds would not find the company attractive without dividends. Medium term hold and imo shorter term buy. Also imo we will have our day.

that will possibly be released by iii or share prophets. I will see what I am told tomorrow afternoon and try and report.

55,000 hectares is just over 135,000 acres. Strange why some would sell after a good set of results ofr Q2.

I agree with you 100%. By the way there are 55,000 hectares available - how much arable I will try and find out.

Good quarter. Back on target for the year.

Interesting late trades yesterday evening and plenty today. Is corporate action afoot?