Member Info for ElProfessor

Don't know if it because of a broker rating or the expenditure plans on Dorropo but the market is not liking something with CEY today. We are down 5%. Not what I was expecting with gold hovering around $1900.
What are people views please?
Best wishes,
Prof

Hi Rulocal,

Can't find the Liberum guidance. Do you have a link to what you have found please?

Thanks,
Prof

Theresa Investor Relations,
I echo the previous comments. Monitoring and posting on this board is very much appreciated and shows brilliant professionalism. A real shame more companies are not as forward leaning.
Congrats for today's great results.
Best wishes,
Prof

Hi Stormer, ignoring the issue of Librium's low guidance I would have thought this RNS could drive CEY significantly higher, although not in one go. Once delivered it will address the fundamental concern that many have of CEY being a one trick/mine pony.
Let us hope for a nice blue day.
Best wishes,
Prof

Hi Red,
I sometimes think that when I have done a good trade. But the salary check is guaranteed and never starts with a minus sign...
Best wishes for many more successful trades.
Prof

60% equities, 40% cash.
Vast majority of my equities are commodity centric.
I have however been positioned like this for about a year so have not benefited that much from the recent broader stock market surge although have done well on some individual commodity stocks.
Best wishes,
Prof

Hi Office Manager,
I guess that depends on the individual.
In Tiger's case, given he is an astute investor, my guess would be that he didn't walk away from RMM as he believes in the company long term but thought is had got ahead of itself hence why he sold. He was presumably still watching so that if he was right and it fell back he could buy back in.
What do you reckon?
Best wishes,
Prof

Tiger,
Yes I remember now. I think you had also sold out of SLP but were in BOD. Is that right?
You have been spot on with RMM.
Best wishes,
Prof

Cornish,
Thanks for correcting my loose language. Not being a mining engineer I did not quite know how to phrase it. I also had not understood the mining cycle and how therefore the single production area would cause a significant issue with that.
BTW thanks for everything you post more generally it is incredibly helpful.
Best wishes,
Prof

Hi Tiger,
I would agree that on balance debt is the most likely. I would hope that with the improving picture terms are likely to be significantly better than in the past. Surely the risk premium required to lend is reducing rapidly.
Are you adding further?
Best wishes,
Prof

Thanks Oiltap.
Couldn't quite get my head round what is going on with cash. Substantial chunk of debt repaid yet virtually no movement in net debt as far as I could see.
Cash generation may be good but if they had it earmarked for expenditure at the previous higher level of generation then it would suggest they might need some more cash. However I would have thought they would have the head room to accommodate that given the recent fund raising. One reading of the RNS is that Q2 will also be below forecast and maybe it is the totality of the H1 shortfall in production and therefore cash that gives rise to the issue.
Thoughts?
Best wishes,
Prof

Good point Pedro. Thanks for highlighting.
Best wishes,
Prof

Having gone through the RNS I took away the following:
-production in Q1 was less than expected because of lack of flexibility with the current single access point.
-we are doing work to ensure we have more than one access point.
-we are still confident to get back to previous target production run rate by end of year
-we will not catch up the lost production from Q1 therefore will be below previous lower end of estimate for full year production.
-the above point needs we need more money
-we are looking at options to get that.
-otherwise all going to plan

Do others read it light this?
Best wishes,
Prof

Tiger,
Thanks for sharing your views on those stocks. Inevitably on any board you tend to get a massive bias from poster in favour of the stock so it is good to hear some contrary views. Have had a quick look at BOD and will probably lurk in the chat page for a while to get a feel. Thanks for the pointer.
Best wishes,
Prof

Oh and should have added that I am into SLP although a little less than into THS.

Hi Tiger,
Thanks for your answer. Was amused to see you spellcheck correction to ' deacons' as when I had reread my post saw 'say' had been corrected to see.
Nearly bought some more today but just have this niggling worry over FIL selling down if it is indeed them. I agree that institutional investors can sometimes do weird things (never underestimate the stupidity of a risk committee) but still assume they are not completely stupid.
Have done very well of late on RMM and JLP although not with enough skin in the game to make a real difference. Have had a few good turns on HOC but currently underwater with my latest investment with them. And CEY is, well CEY. What about you?
Best wishes,
Prof

Hi Tiger,
Bought in here based on Sotolo mentioning on the HOC board and I have to see that seeing you were here to gave me confidence. Then liked what I read on what is another very sensible board.
I notice lots of people saying this will increase once FIL have finished there selling. Do we know why they are selling please?
Best wishes,
Prof

"With everything that is going on, you just can't help but be bullish on gold," said Button (Chief Currency Strategist at ForexLive

Full article at link:

https://www.kitco.com/news/2021-04-28/Gold-looks-good-as-Biden-pushes-trillions-in-new-infrastructure-education-spending-in-Address-to-Congress-Analyst.html

Hi Mary,
I think Q4 is the wrong benchmark; everyone knew it was a real shocker.
I agree that we should see a blue day but I think it will be relief for having seemingly turned the corner and management delivering on commitment.
Fingers crossed,
Prof

For those who focus on free cash flow the numbers are perhaps the best indicator of why the SP has taken such a tumble. Q120 it was $45.6M but for this quarter, Q121, it has fallen to $9.4M and this despite an average realised price of gold of nearly $200 more.
On the plus side it is up from $3.5M in Q420.
Hopefully the set of results, while not stellar, will reassure that the new management is delivering what is said it would and will therefore get CEY back to being a 500k oz per year, with the AISC and free cash flow benefits that go with that (subject to gold price) in line with schedule.