Member Info for ElectricLion

GGP are over £200m with no production at all. In a good position for sure, but not producing. Lots of different ways to make money. CNR went from low twenties to mid thirties, then back to mid-twenties. Could have traded that and made some nice gains. Where next? I don't think we'll have to wait for 2 years to see a decent rise, though opinions differ on what constitutes "decent". I'll grant you, £1 seems a ways off yet, but thirties to forties very do-able with feeder pit permits. Toll-mining deal still very much up in the air IMHO, but would be a very decent boost to SP if it does happen, and I doubt we'll get any warning - there'll just be an RNS and the SP will gap up on opening (if there's any justice in the world). Add $2000 gold into the mix and who knows. FWIW, I don't think the gold bull will be a flash in the pan affair. Condor has time.

Sorry for the dumb question (I'm new to this share), but do we know who is selling and roughly how much they have left? Has there been an RNS, or is it just a deduction based on the trades? Thanks.

You may recall that the same concern was raised a year or two ago. I belive it is simply the renewal of an existing arrangement which expires every year or so and must be renewed every AGM. Whether it is actually used in full or not is a different matter. But surely better to be able to access funding if it is needed to move the project forward than not be able to. We know MC is loathe to dilute, so if he does decide to use this facility, we can conclude that there are no better options.

...and today, lots of movement with few buys.

I think sometimes it comes down to how much stock the MMs have as a float. If they have lots after a big fall, then that slack needs to to be bought up before the price rises. On the other hand, if the MMs have very little stock, then just a few buys can send the price up significantly.

Are we talking about feeder pit permits? If so, MC has said he expected them in the first quarter this year. Not unreasonable for that date to slip a bit under the circumstances.

176 mines globally have been temporarily shut down due to the virus as of this morning. 115 (65%) are precious metal operations.

https://twitter.com/MarinKatusa/status/1246185860770349056

(and I'm quite tempted to post virus stuff just to make a point, even though I wouldn't have before your heavy-handed attempt to close down the debate).

Vote up if you believe in freedom of speech (within the bounds of decency and LSE's terms of service), even if you don't like what is being said.

Seriously, I get where you're coming from, but this attempt to close down "virus" discussion is shameful IMHO. Filter it if you don't like it.

Just being Devil's advocate here, please understand I in no way endorse this view, but I can see why a government might choose to prioritise keeping the economy running over a (so the argument would go) statistically-small number of casualties that are mostly in an economically-inactive demographic. For a country that is already poor and still suffering economically from the political unrest, it is hypothetically possible for a shut-down economy to cause almost as much collateral damage as the virus itself, in the impact on poor families. I repeat, that this would not be my view, but I can see the intellectual argument. How bad the health impact would be is anyone's guess, but could be seen as a "price worth paying". I'm not saying that is the Nic govs thinking of course, and I'm not making any allegations, but just following a train of thought.

Chill mate. You ain't a mod. Report it if you want. Better still, start a decent conversation yourself.

VC: https://simple.wikipedia.org/wiki/Hanlon%27s_razor
There is no NWO, just bumbling fools (every one of us) doing the best we can.

You may be right WG, but I'm not really seeing much evidence for your conclusion in the trades. For one thing, not every round-number trade has to be the same seller and as we all know, not every trade marked as a sell is actually a sell.

For another, the SP isn't doing that badly all things considered. A bit of a dip today granted, but the wider stock market has just had the worst quarter since 1987, and we are actually up slightly over that same period. I'd expect worse if there was a big seller, even if they were trying not to tank the SP.

We were heading for mid-thirties before coronavirus hit, so clearly there are sellers, but I don't see our performance as unusual and I'm not convinced that it's due to a single seller, rather than just a wider reduction across the board.

If it is Beaty, or any shareholder with more than 3% of the company, I'd expect an RNS before he got through 'millions' sold - I think you usually have to report every % threshold you cross up or down, though I'm not certain of how long that announcement could be delayed for.

Why'd you have a project called Condor?!
Saw this video on my YouTube feed, may be of interest to some, while we wait for news.
https://www.youtube.com/watch?v=nGcT5TPmiUU

As I understand it, 100% of La India land is only a requirement for the 120k oz+ plant. Toll mining or possibly even a small plant of our own could be supported from the feeder pits and/or a smaller part of the La India land package. I would not be suprised to see mining of some sort start before all the La India land was purchased.

Toll mining deal is far from certain. Yes, it seems to us to make sense to all parties, but until the RNS lands we'd be better off assuming there is no toll deal IMHO. I'd rather be suprised to the upside than the downside.

Once (if) a deal is agreed, I imagine it would still take a few months before we would actually be trucking ore, so may not be affected by current Calibre shutdown (unless it goes on for 6 months or more).

As has been said, coronavirus is the single biggest factor affecting *all* share prices at the moment, so is not unreasonable to discuss it, particularly in the absence of any new company-specific news.

IMO, would be better not to print it in red or blue, given we all know how unreliable that can be. Just the raw trades would be fine!

I agree. Capitulation on a wide scale today. Is it possible that this could be the last great stock market shake out before things stabilise? I guess it's too soon to say. As far as Condor goes, while it's incredibly irritating to see all the positivity and momentum we were building be slapped down by coronavirus, in the long run, I wasn't planning on selling yet anyway. The trades don't seem large, no indication of a significant change in the wind direction, despite what the SP may say. Still don't understand why gold is down, but maybe when people are panicking, they'd rather just sit in cash for a bit.

I'm not convinced there is a big seller. A 50% rise is not the sort of behaviour you'd expect if there was lots of shares being sold into the market, even against the increasingly optimistic backdrop. If there is, then the SP has done very well to defy that selling. Stale holders selling up and being replaced with new blood is healthy for the SP in the long term anyway, so I'm pretty philosophical about it even if there is a seller. Just my 2p.

Doubt MC can hold back anything significant. Price sensitive news must be released promptly. Stock market rules.