Member Info for ElProfessor

Hi Northern,

Like you I am not worried by the lack of reaction to the Roan news and have also used the opportunity to buy some more. It will however be nice when we do start to see a move up.

Best wishes,

Prof

Morning Gotreal and Nelson,

My two pennies worth on the subject - I am not against a further issue of shares in principle but if it is to happen I would expect a clear and detailed case being put to shareholders, even if not for a decision, as to why it is the best option.

I would hope that the Board is being presented with a suite of options, probably centred on four key approaches for growth: 1. using self-generated cash flow

2. using debt

3. using dilution (share issue)

4. using a partnership

Each will have pros and cons and a key element in coming to the decisions should be what generates the greatest value for existing shareholders given that we are the owners of the company.

Best wishes,

Prof

Kalan,

Thanks for sharing your thoughts ref JLP. What I was more struck by was hearing that your wife's cancer may be more intensive than you thought. I feel for you both and wish you all the best as you go through this difficult time. My thoughts and prayers are with you both.

Very best wishes,

Prof

Hi Ken,

Have you got the money parked in something specific with HL to get that or is that what they are currently providing on cash balances?

Thanks,

Prof

Sorry - loose use of 'value' at the end. I should said 'in price as expressed in currency terms'.

Hi Edzi,

The trouble is for one theory that takes you in one direction there is another that takes you the other way. Inflation is usually accompanied by higher interest rates, gold does not yield an interest payment, hence higher interest rates means lower gold...

But the other theory is that the only true measure of value is gold, high inflations means higher prices in currency terms but the prices stay the same in gold terms which means gold has to rise in value (basically the theory Liberum are espousing).

Best wishes,

Prof

Thanks for the insight. Hope Bernenberg's optimism was not just being fuelled by that feeling of immense well being you get after a few glasses of fine red.

I too think THS is undervalued but I would really like the market to agree and revalue it as I thought it was undervalued when I bought in at twice the current SP.

Best wishes,

Prof

Hi Kalan,

Great news - well worth a champagne hangover!

Very best wishes,

Prof

Hi Tibbs,

It is a fair few years since I have had share options vest but from memory there was a significant tax liability due. I had the choice whether to sell the appropriate number of shares to meet the tax liability or to pay the tax from my own cash and keep all the shares. In my company at the time execs tended to do what Horgan has done and sell shares. Not doing that can, depending on the number of shares and the strike price vs current valuation, can mean having to find a lot of free cash which even quite wealthy people, may not have in liquid form. Hope that helps, Prof

Hi Kalan,

Wishing you and your wife all the best at this difficult and stressful time.

My thoughts and prayers are with you both.

Best wishes,

Prof

Hi Dorfan,

Agreed that is a key factor however there is also geo-political risk, copper prices and chrome prices. I don't say PGM prices as they are so low that I feel they can only go up. Having said I am pretty confident based on what I am reading that copper will move up and chrome should at least stay steady. Geo-political will stop me going up to a large percentage of my portfolio but I am ok enough with it to buy some more.

As to can we produce the copper - yes but when is the key question given the endless delays. I think we are probably to the back end of our waiting but then again it seems to be one thing after another even when we seem to have a clear road ahead.

Apologies that I am playing my mental musings out loud. I think I am convincing myself that I should buy some more!

Best wishes,

Prof

Gray, Edzi, Kalan,

Thank you all for some very helpful posts. There is something illogical in those who bemoan why we are not higher but lambast those who point out why that might be.

I have a significant shareholding here and am pondering more. Your musings make me more likely to buy more not less because they hypothesis as to why our share price is not higher and I can then decide whether despite that I still want to buy. Those posting along the lines of £1 tomorrow are not so helpful in my decision making.

Best wishes,

Prof

Thanks Red. Look forward to seeing you back in when the time is right.

And don't eat all those Teacakes at once!

Best wishes,

Prof

Red,

Farewell for now and best of luck with your investing. I fully sold up my Cey holding somewhere below £1 as it was getting too painful watching it drop daily. I then bought back in for a fraction more than I had sold because I realised that I still believed in the Cey story.

Best wishes,

Prof

Yesterday gold hit over $2,400. If Cey deliver at the bottom end of AISC that is 1,200 so are then also clearing $1,200 and oz.

To put it another way, that is the equivalent of having a gold price of $1,200, which we would have been perfectly happy with a few years back, and an AISC of zero - in other words free gold.

I don't know if gold will stay at this level, because I don't understand why it has suddenly moved up to this level. It seems that I am in good company as the so called experts seem to be all over the place both in their explanations for the recent surge and as to their view as to what comes next. However from the current gold price we could see a fall back of 15% and still be over $2,000 so clearing $800 an oz assuming the low end of AISC. I can't help but think that the current share price is not reflecting the fundamentals of CEY. At top end of forecast CEY will turn out 500k oz this year and will most likely clear $1,000-$1,200 per oz (post AISC).

Best wishes to all,

Prof

Hi LUFC,

I guess you have had some sleepless nights along the way then. Hope this one turns out well for you (and the rest of us).

Best wishes,

Prof

Steve,

Always nice to see an honest and non-egocentric post.

Thank you.

Best wishes,

Prof

Https://markets.businessinsider.com/news/stocks/bank-of-america-sees-gold-at-3-000-warns-of-a-copper-supply-crisis-metals-dance-to-their-own-tune-1033234049

Https://markets.businessinsider.com/news/stocks/bank-of-america-sees-gold-at-3-000-warns-of-a-copper-supply-crisis-metals-dance-to-their-own-tune-1033234049

Https://goldseek.com/article/biggest-copper-mines-produced-20-less-copper-2023