Correct Tune1. As an ex-employee of SL I can assure that not everyone is on great wages and driving company cars but that's the media misinformation for you in suggesting all financial service staff are in that position - many struggle to make ends meet just like anyone else but here are some who are very well paid there is no doubt. I cannot deny the pension is generous. As you note, investments go down as well as up. Anyone with a pension should be reviewing that regularly and seeking professional advice if need be to make sure their strategy is making the most of the situation.
Happytom, what should have happened is that your holding should have been divided by ten with you losing any fractional holding. Your value of holding should not have reduced (happily price is actually going up). If that hasn't happened, contact your platform/broker. I'm quietly positive this change has had the intended effect. We may even see it reaching £1 but ultimately it still needs a big investor to drive things forward .
Daisan, this is precisely what I hope will be addressed by the share consolidation. The sensitivity when the share price is this low is magnified greatly so when the price is converted to 50/60p, I'd expect that to settle it down. I imagine what is also happening at this level is that you have a lot of day traders looking to make a quick buck on very small movements so they may also no longer be interested when the price moves up. Personally, I'm not paying too much attention to the price until the consolidation happens and perhaps towards the end of the year, we may see more positive movement and a general settlement of the volatility. This still isn't one for the faint hearted though and there are a lot of other things going on in the world that are affecting this price rather than just what gold is doing remember.
Firstly Lofty, good to see you back commenting again. Still holding AVM? My view is this is generally good news. Less shares in the market, less volatility due to higher share price which removes the interest of day traders in to make a quick buck on "penny" share buying and selling quickly and keeping the volatility circle in place. You'll recall RBS did the same thing and I think at first, it certainly had a positive effect. Still a risk of course but I hope this settles the stock somewhat and as you say Lofty, that may attract more attention from serious investors.
I was indeed Draft yup. I think I bought my first lot in Sept 2013 and bought in twice more over the next 9 months as the price fell so I'm virtually at break even at the moment but I'm hanging around. I came in feeling this was a major gamble so I think it will either end up with me losing it all or buying myself that Ducati (now the 1299 Panigale rather than the 1199 I penned myself after!). You can't say what will happen here but no-one could say its been, or will be, a boring ride - much like the Panigale!
Agreed. We'll all make our own call on that but the next big move would definitely be funding otherwise it may fizzle away unless of course the gold price goes insane. Market turmoil makes gold attractive just now so price is up - the gold "experts" (read as bulls) are telling us the stats indicate gold has held ground at above 1250 for long enough, breached the 1300 level and therefore is about to take off so if prospective investors agree, they will come in and that's a good thing. That is personally the story I'm sticking with so I'll hang around hoping we've seen the worst. My view was always that Elliott are no mugs and wouldn't have been throwing millions of dollars at a complete dog but it is without doubt a very risky stock so don't be betting your pension on it! .
As you've all said, there is a lot in our favour just now. TCOP (Total Cost of Production) is in a very good place and better clearly should gold continue to rise. Markets will no doubt settle after Brexit vote if it goes the way I think so that might have a calming effect also on gold. Hey, who knows, it's all somewhat a guessing game but I just hope some long suffering shareholders can now see a light at the end of the tunnel. Long term this may be peaking the interest of major investors so that would be the next very positive step. I'm breaking even after 18 months of thinking I'd lose it all. I'm not selling out yet..
Is this a short burst or start of a prolonged upward move? The annual report was fairly positive I thought. Whilst still warning of the fragility of their position, reliance on Elliott etc, it seems suggestions of further funding conversations were looking good and that the gold price should stay fairly steady around the 1200 mark. The general state of the world economy which doesn't look like settling soon, as well as shorter term issues like Brexit,would seem to support that opinion. In the background, AVM just need to concentrate o trying to keep costs in control and persuading some people with lots of money to invest (perhaps the Mossack Fonseca refugees!?). I'm sure us long suffering shareholders will appreciate this bit of cheer and it may even lead to some communication (shock, horror) from the Board.
Guys, we all knew surely that buying a gold mining company was not exactly a low risk strategy yes? There are no guarantees ever in this game but I bought into this because I saw some potential (albeit at a very high risk) - the funding is still there and the firm are looking to increase margins by reducing cost so that's good because if your product reduces in value, you need to reduce your production costs. I didn't buy it because I thought gold would rocket but I did assume that there would always be a market for it. Hey at the end of the day we all make up our minds of course but I insist I'm hanging in and I might lose it all but them's the breaks. Lofty, quite frankly hope you hang around too or it'll be boring!
Do you sell out now Lofty or strap yourself in or indeed, buy more!? I still think the fundamentals of the company remain sound with further exploration and cost reduction on the agenda. If the gold price is dropping but so is cost of production, profit is still there but that does not prevent it going out of business of course. I for one though am hanging on. My holding is at this price only worth a few k so I can take the hit if it goes down the pot but quite frankly, my gut feeling is that it will not. I might however not stress myself out by looking at the price every day if I can! Q4 will I hope bring better news.
As those crazy dudes amongst us that have held on here have noticed already, there seems to be little relation here between gold spot price and the price of this stock! Gold down, this stock being sold - price goes up. Bizarre. Greece may yet get some sort of deal which has boosted markets which you'd think would be bad but who knows. I'm trying to ignore all that's happening and concentrating on the last reasonably positive report we had from the firm, strapping onto the AVM bull ride and just see what happens!
I agree Lofty - my "normal" investment portfolio would welcome a solid Greek deal but worldwide calamity always paves the way for a rush to gold which surely must benefit AVM so I'm in two minds! I'm sure it won't be a straight up "OK we'll pay guv" message from Tsipras so I'm expecting a half way house which might see a slightly happier market yet still uncertain enough that gold will rise.
I agree Lofty - there doesn't seem to be an awful lot of logic to the movements. I am getting a little nervous it has to be said but I'd find it hard to stomach selling this below 6 or 7.....could be my downfall. From what I'm reading, this is the critical year. They need to find more funding but I suspect that may be difficult. I'll hang on for a bit but I'm not as confident as I was at the beginning of the year.
Yup Lofty - I wonder what drives these little spikes but lets hope it's the first step on the ladder to better days! I haven't been as brave as you as yet in topping up but you could be right and it'd certainly bring down my current average cost!
Aye, aye captain! Continued dollar weakness looks good for gold but just not sure how long that will continue. Hopefully in the background meanwhile, our boys have found some wonderous new method of extracting gold at unbelievably cheap prices!