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Got some more in the nip of time, at 6.70. Rude not to.

The 50 MA has crossed above the 200 MA on the copper hourly chart, looking good, copper at $4.1 USD.
Hopefully £2.60 SP can become the new level going in to next week.

What a carry on!

Here is my take - They had about 3% in January, when the SP was worth around £8. It increased up to near £12, and back down to £6 and in all that time they only sold a few.

Doubt they are going to sell any more, expect they may be underwater too, or at best break even. Suppose it depends on how long prior to January they bought. If they bought after June 2020 they are now on a loss. Which means they
a) expect to make money still,
b) wont be selling.
c) most likely did some short trickery to make a few quid while they wait for things to heat up.

Cant beat the system, go with the flow. Out yesterday and back in today, saved 8 points and got a few more free shares.

Again, I don't think this is a problem. China is full of mines and mining. They only need to take control of it, then they could put their own people in, probably get the cost down. Also, look at Samsung, or Hyundai, these people make everything from hand held devices up to refrigerators, and even heavy plant equipment. You are applying the western way of thinking about business. China is on a buying spree at the moment, they have acquired mines in Africa.
To turn the question around, do BCN have special expertise in mining, (a proven track record) that the Chinese couldn't find elsewhere?

Thanks Fozdog, But I took from your writing that your guessing they wont get the license. Not my experience, look at ARCM now being bought by Anglo American. The argument you have presented is only that it will be difficult, and in your opinion not worth it. But that all depends how you look at the situation. It will boil down to business case, will they make more money with or without BCN in the long term. If they acquire 51% its a done deal as in HGM and they are on 28% or something like that now.

Hi John, R7, interesting posts. You are right John, an easier to rout to get what they want.
R7, who knows what the strategy is, my point is that if they get frustrated with the progress, this could be the catalyst, not any particular share price. I suppose its in their interest to help BCN spend the placing money first, and if it starts to run out or issues arise (or even differences of opinion) when the tank is running low, it would make sense. I shall read the progress RNS very carefully.

I take your point about about having lots of partnerships, but I just think the Chinese are ruthless in business and only what happens at BCN alone will affect what happens at BCN if you see what I mean. I guess it will go quiet for 6 months while the placing money gets spent. I still think the Chinese don't need any one else to get this done, other than if 100% ownership for political issues is a problem.

johnpwh I meant that they could just buy the project. As they only need to buy 50% of it, and the 50% they are buying is actually 30% owned by them. They only need to pay for the 70%. However the numbers stack up, im surprised its not talked about more here, seems like it is inevitable to me.

So no take over, just strip BCN of its prize project, and leave the dregs to languish on AIM. China is such a big place, and full of mines and hence expertise, I dont see what Seckers unique selling point is, he is totally dispensable.
Only issue I can see is if Mexico stands up to the Chinese on 100% ownership, but I doubt that would happen as they will bottomless pockets to sweet the deal. That's how I see this ending.

Placing concluded on 3rd November. Therefore 4th March.. The wording below appears to allow sale on the UK exchange at any time? But the drop makes no sense, it cant be all from IG. Someone is selling down. I am pleased to have more at this price, but thought I would mention this.

Placing Shares issued in connection with the Canadian Placing will be subject to a four-month and one day restricted hold period which will prevent such Placing Shares from being resold in Canada, through a Canadian exchange or otherwise, during the restricted period without an exemption from the Canadian prospectus requirement. Any Placing Shares placed outside of Canada pursuant to the UK Placing will be subject to the same four-month and one day restricted hold period which will prevent such Placing Shares from being sold in Canada, but such Placing Shares will otherwise be freely transferable.

I doubt that the actual reason for the drop. And since the market didn't pay attention to the other broker notes why would this one matter, I mean Ignore Numis, but follow Oddo? Makes no sense. More likely that we have a very turbulent market today, any one in precious metals will know its all kicking off today. Its another opportunity to assert some more pain and get your shares. I will be selling some metals today and topping up here. Billy Oddy can fk off.

Sounds like they should be a fair way through at Orlaroz, despite the delay. The delay seems to be at the end of the project not the beginning. I can only speculate here, but I am glad to have Ganfeng as a partner here. I don't think they will mess about. I think they will really push to make this happen, and if BCN cant keep up, I think GF will swallow up BCN or at least the project. I personally don't care if this happens, and a buy out is relatively early, at the consequence of the revenue stream for years to come. I think you'll find this is common place for this type of investing. Wouldn't take much for GF to buy out the other 50% of the project, given they also own 30% of the Co. (need to buy 70% of 50%).

That's a great question Shareminator.

How about CAML? Copper, Lead and Zinc, Paying dividends of about 15p per year and actually half the market cap of HOC. large % of shares in sticky hands. Might even say in a better geo-political locations (2 mines). Results on 30th March.
Cash in the bank as at 30 June 2020 of $44.0 million2 (31 December 2019: $32.6 million2)

I note in the article, mentioned below matey boy bought a copper miner too. But he bought the other one with the more funny name (Atalaya mining). Still cant go wrong with a few more base metals, I'm sure the chap will do well and increase his optionality, just like I did.

Hochschild Mining (HOC) which he says offers more ‘optionality’. I have been saying this for months. LOL.

Rather mean spirited stop loss hunt this morning. But a really bullish sign non the less. They want your shares! The silly thing is, if they just paid a decent amount id happily sell a few.
Copper making its third green candle on the hourly, the whole things a powder keg I tell you!

I agree Kitzie, at least they are not releasing desperate sounding RNS. Then I would sell up.

If at all possible, you should add some more, then you can sell up sooner on a rise and walk away with a little more. I can see this being dropped to £6.50, possibly crashed a bit lower, but realistically this cant really go much lower for any length of time, and will start to climb into the results, possibility of DHSC contract. I estimate another 2 weeks of pain before seeing some gains from where we are. Also unlikely to still be cheap when the new ISA year starts, so that is 3 weeks away. I don't think there can be any news that will drop this now, just the manipulation to take away shares from people like you. Have you asked yourself, why institutions are buying at this price and hold something 10%.
The worry about selling now for anyone, is that in a couple of weeks time, NCYT has increased 50% and your new investment has done 5%. Then its too late to undo the damage of your current situation. If this were a sh*t company like BCN or HUM, obviously get out while you can, but that isnt the case here.
In the mean time, are you looking around for somewhere else to invest? use the 2 weeks to really identify something(s) that you think will do well, to avoid the likes of HUM and BCN (LOL). Oil seems good at the minute, but will it last.

Brooker, I don't think £15 per share was greedy, and exactly why I didn't sell. I may have sold a few at £13, I know I was close to my target.

The broker targets are a function of share price growth and share price return. The target is saying that for the money that this company is returning to share holders, and for the assets that this company has / will have, a fair price will be x.
When the broker forecasts are currently 25% above where the share price is (multiple forecasts) , then this should be seen as very encouraging.
Reading the dividend declaration, POLY say that the average return to shareholders over the last 5 years, based on the average share price is 5%. That represents 2 dividends paid per year. With the current share price, you are getting 4.4% returned to you in just one dividend. This again serves as a indication that the broker targets are reasonable, I think.

What could happen is that, the broker targets begin to get down graded. This could happen if the economic situation changes, here we are not just concerned with the POG, but also the US/Russian currency. It could also happen if the political situation changes. One of Warren Buffets basic rules of investing was to allow for a margin of safety, I would say that with the share price 25% below the consensus, there is your margin of safety, as much as can reasonable be expected by investing in a mining stock anyway.
I only know 2 others of the top of my head, but HOC had a broker target of £2.30 currently trading 2.05 so around 10% upside.
CAML target of £2.70 currently trading at £2.50 so around 10% upside. (im sure holders of both will tell you these are too low).

I do not believe this share can be manipulated, as it trades on an electronic order book. However clearly the price has dropped, this can only be due to selling. Most likely a mixture of short selling and II exiting positions. Both of these scenarios have no reflection on the company, they just do it because they can. It will rise as quickly when more buyers turn up.

What you need to do Ade, is decide how long you want to be invested in POLY. If its under 3 months, then you need to worry about how low gold will go. If you have a longer timescale, I dont think there is much to worry about. In fact, might be worth hoping to buy some more on a bad day. Might briefly see high 13's here?

Here is a video where the last 5 years of trading history of the company are analysed. The analysis puts POLY at second place on his best performing share leader board. Remember, this is over 5 years, not just last year when the POG was high.

https://www.youtube.com/watch?v=xzqJQN2tKQk&ab_channel=ChrisChillingworth

I bought 200 back this week. I used to have 1100 shares here. I will be looking to buy them back, but on bad days when the price is sub £14.50. If I get left behind, then that's fine as im also happy with CAML which I moved to when this started to drop. Well worth checking them out, and they are primarily a copper miner, so the current economic situation is more in their favour. Again looking at about 5% of the single dividend declared end

What is that website or where has he taken the screenshot in the twitter link from gggg?

I share the frustration especially as some of my buys were above the current price, but I was looking at the hourly chart, and we can see here that for the most part, the lows are coming back to the 200 MA, which is very encouraging, as the 200 MA has a nice gradient, which would take us to £3 by early April. Perhaps one issue, is that on any lower time frame we are well above the 200 MA, so this could be like extra weight pulling us back down. If anything, my hunch is that we will make £3 or at least an attempt on it (new high) fairly soon before the target of early April. I am also using livecharts.co.uk for the spot copper futures from NYSE, and that chart too looks very encouraging. May or June sounds like a perfect exit point to me.
This tells you everything you need to know:
05-Mar-21 16:35:17 250.00 78,519 Buy* 247.00 248.50 196.30k UT

JTS13, you might be right about manipulation, but your dates seem incorrect to me. I cant see anything significant about Dec 8th. I would pick High Jan 8th, to low Jan 28th as the range. It seems under the surface there is a lot of buying going on, the UT is nearly always blue and some large buys are often above the ask. I am loading up here as much as I can, with a view to holding north of £3. Slightly annoying that I bought at 2pm yesterday then at 3pm could have saved 7p. Still managed to utilise that drop somewhere else. This is the place that I abandoned ship to from many of my gold miners...