https://on.ft.com/3dn0Oft Worth a read, I am now cautiously optimistic that Boris will do a deal to help CNE. The question is, how much is already factored into the sp? I suspect if half of what is owed were delivered via installments starting this summer then the sp would spike to 270p ish?
Never take advice from anonymous bulletin boards but dyor.....do your own research. Look at the trading info above and figure out if small punters are buying or selling, momentum one of several clues as to when to buy or sell. Trust nobody including me, only bet what you can afford to lose.
The only glimmer of hope I can offer is that 25% of SRB is owned by institutions and they will be feeling the same as I do and want this sorted and fast! My worst gold explorer share by a country mile and all because they used a couple of locals in their mine management team. Locals do the digging while expats run the mine, a formula which has worked for centuries.
That would be my concern, too much riding on a country which is itself a military dictatorship and in a region prone to sudden attacks by "terrorists" or civil wars. Egypt not only has a poor human rights record it is also very corrupt which is never good for business.
Not just a bump in the road but fraud and one bad enough they had to ask the Canadians if they could keep on trading!
How much stolen and was it cash or gold? Did the two local managers seed the mine samples to give false assay reports? Time will tell but this is serious for small investors and should not be played as a bump in the road.
While many of my shares in the commodity sector are doing badly this RNS has cheered me up! I may well off load any profits made over at CNE into PMG because this company is becoming a major North Sea Gas Producer at a time when the market for hydrogen picking up and most UK power stations are burning natural gas. Take a bow Mr Cross.
The RNS did not light me up with excitement but the prospects, bad pun perhaps, of a new CEO and a bid or significant JV arriving in 2021 do so added 20,000 more to my stake a few mins ago on HL. I am minded to take profits at around 50p which I think is still a year or so away.
CNE should sell the debt for 30% to a big, greedy US Bank with a very nasty legal department and let them savage the Indian Government both in the courts and via lobbyists in Washington. In the end they pay up, just not the full amount and both the bank and CNE walk away with some money.
Lower costs of extraction. While I like to drool over high concentrations of gold per tonne in an RNS it becomes expensive to extract especially if its buried under layers of rock. To find decent concentrations in a soil analysis is encouraging imo.
I have held a few thousand, glad I made some money from top slicing but am well in the red with remaining stake. I fear, eg emotional not based on tech analysis or hard facts, that PAT will drift lower so now thinking about what news and what price I might consider buying?
As said below, India although potentially a tier 1 asset will take years to sort out so this is all about Africa. How long to get into production? Might it attract a JV or bid?
Encouraging but as long as the price of gold is rigged by paper trades on the global metals exchanges the sp is not going anywhere fast. We need to see fiat money like the US $ weakening under endless QE and gold prices through $2000 an ounce for SRB sp to fly. For now, its watch, hope and wait.
RE: The Invisible Man -what is his purpose?25 Mar 2021 08:55
To deliver a deal I hope? Purely a guess, he might be just another management parasite, he might be a backroom tech kind of guy who is working hard on affordable engineering fixes to sort out the reservoir issues? Wait and see or sell and move on.