Yes. The Eksom problem is improving. These were all stage 4s and stage 5s not so long ago. Without calculating, only a few hours a day power cut, most of the week could see 24 hour mining again if their solar power can be stored to be used at night. Could just email and ask them.
https://mydorpie.com/m/?page=loadshedding&suburb=Barberton®ion=Umjindi&province=Mpumalanga
Mixed on this but at least it's all priced in.
Anyone know a good estimate for the average gold price is this time ? $1875 perhaps... Which would make their annual profit around $92m. IMO Given cash flow and the higher gold prices being this side of the year, the dividend around a penny should still be intact.
Eksom have a lot to answer for, the pressure on them must be huge to sort out this mess. It's becoming the best interest of mining share holders / pensions / countries to wade in with aid, politics becoming involved if Russia / China wade in before the west does.
Anyway, with Mintails on the horizon, it's still looking like the current SP should be the start point of a long rise.
53 bid 54 ask.
Most welcome.
FAIR is almost my largest holding these days.
"And yet nobody is buying the stock Gavster...why is that?"
Most likely the usual AIM miner reasons.
The most obvious could be too many share issues so the main way of making profit for the funders / holders of free shares, becomes the company pumping out news, employing rampers and all manner of things to persuade retail investors to buy, thereby allowing the liquidity for sellers to make their profit. The number of examples of this on the LSE and AIM are too numerous to mention.
Personally, I'm good with the fundamentals, they are selling gold at a profit which is miles better than one of those constant 'Jam tomorrow', drilling, potential etc etc companies.
I am however sitting on a loss after those funding antics, and the pumping months ago.
Silly me to get sucked in and spend hard earned profit on a holding here, however I'm confident to bottom drawer them for now and wait for a spike in the future.
Possible news of increased production or such like that could do it, or even a round of funding and one of those mysterious spikes in share price that happen just before a funding round (I say that sarcasticlly).
Cheers and GL.
"I make the profit on production £900,000ish for the quarter and the MCAP £6mill ish.
So profit a little less than 1/6th the MCAP? …"
Correction to this :
The profit shoudl be multiplied by 4 so it is annualised. 900k a quarter is 3.6m a year. So the PE 3.6m profit to 6m MC and is less than 2 !!
Just increased my holding again on this dip to 90p.
My ISA is at 'Peak DEC'.
Hi Both.
Dividend announcement is expected here in the next week or two.
Thanks Agricore for that. Yes I use dividenddata all the time.
I tend to study it most in order of Impact. It's usually a tab when I using my browser for investments.
https://dividenddata.co.uk/exdividenddate.py?m=&fm=&sc=y&st=0
Damofarl
I see your points, however I have a massive distrust of PLC companies and any honesty I see to me is always the exception.
I'm against buybacks as you know because to me they all simply provide the liquidity for sellers, be it directors that want to sell allotted shares before they are declare as or allowing their city mate holders to sell out without crashing the SP.
I do however see the point that if a large seller was outing here, then the buyback would be buying larger chunks and regularly.
I also expect the pound to weaken against the dollar, in fact I'm still surprised by its current strength. Both arguments for strength (interest rates) and weakness (inflation) currently exist to compound us further.
I've recently increased here and also in TORO which I know you're also invested in, as the discount to NAV there has extended and the same arguments exist for a fall against the Euro.
Dividend announcement due in the next week or three. 2.0875p expected and should provide some boost.
IMO Nothing to suggest any large problems, more an adjustment of yield by the market or poorer sentiment to the sector perhaps.
Directors recently bought in the 102.s.
I've increased my holding recently in the low nineties but still underwater since buying low 100s in a couple of accounts.
https://www.proactiveinvestors.co.uk/companies/news/1014840/nextenergy-solar-fund-hikes-dividend-target-1014840.html
https://www.proactiveinvestors.co.uk/companies/news/1018207/nextenergy-solar-pens-higher-generation-and-earnings-in-2023-1018207.html
Hi LTI
The wait could be a long time indeed for gilt yields to lower, however if the dividends are secure here all continues to be well, and as you imply, income investors will not likely care of a rise, but I'll certainly top slice with an SP back in the 90s.
8 grand is more like Big Jobs !
Strange it's listed as unknown as it was clearly done above the 45p ask.
The number of trades are minimal but surely the number of sellers at these prices is even fewer.
I would expect the news of FAI approval to spark buys and a spike up.
Only a handful of buyers would move the price it seems.
Hi all. I am assuming VEL will release news of the FAI process being completed positively as and when this happens.
What is it they are making for the US clients that is different to what they've manufactured before ? I ask this as I would have thought that their products made in the UK would up until now already be approved by the FAI.
Anyway..
I just bought another tranche today. I had to send a limit order on the ask as trying it on with lower limit prices did not work for two days. I was also able to sell my entire holding instantly, so overall that shows demand and an upward moving price.
Chart-wise the price is at the bottom of it's recent uptrend (started since October 22 and can be seen on the daily chart), MACD RSI and STOCH all show potential positive movement.
We'll see. Onwards upwards...
Hi LWHL - What is your target price ?
Bit the bullet, taken the hit and sold out near the bell at 590. So far this is a good decision.
If the price drops down to 400s I may consider reinvesting but at the moment I have other investments that will provide a better dividend and prospective growth without the FRES bare knuckle roller coaster.
Cheers and GL
Nice to have the RNS showing on LSE again.
"Full scale construction of the tailings retreatment plant at Mogale will now commence, with expected production of 50,000 ounces per year for more than 20 years".
Eksom has knocked our production down but the POG and Mintails progress should take us back up with an SP surely to the late teens at least.
Hi bbr391
No idea where you're coming from. Stifano has taken GAL from one of the most honest companies with production of 12000 a year into a typical AIM miner where we see constant profit taking, including selling of issued shares, of those in the know against, sharp suited business tactics of pumping news attempts.
Sorry but the Cobalt thing is pathetic. We want gold, it's there, so get it out the ground instead of these hopeless attempts at stringing the market along with constant 'Jam tomorrow' news.
It does not take time, they have had over ten years to start the new mine. The mining plan has existed for years already.
Any spike generated I'll be out and suck up the loss.
It is completely inexcusable for a gold miner with so much production structure in place not to be mining right now with current gold prices.
Ouch... This has been been a bad investment last 12 months and now this to kick the boot in.
Could even go down to the 400s with these results. How much is baked in already, and the silver price that is needed to get us back to 700s/800s is what, 28 cents does not look currently attainable.
FRES to the bottom drawer.
Hi LTI, I intend to hold as well, except my strategy is to be initially overweight, then slice that excess weight once a profit target has been reached, the profit in SWIF is from reinvesting dividends or a welcome rise back to the high seventies. The intention is to then hold with a low average, 60s, 50s or the most ideal would be to top slice completely.
Is most welcome..
Back to 78p ?
Back down to the early 40s with so much 'Jam tomorrow', but IMO a lower SP suggest buying opportunities.
I get a whiff of fund raising which as we all know means dilution, but hopefully they'll be experienced enough to do this at as high share price as possible, I imagine by borrowing until the first cash from the $100m contract starts to roll in, and the clients are happy. Also at some point there is surely going to buying from those in the know about this contract as they also see an investing bargain.
Meantime.. the next 6 months will surely see a slow rise.
Hi Damofarl, Agricore et al.
Out of interest...
Have you figure which of the large share holders does not want Claudio Albanese or Jonathan Bridel to be directors ? Also would this be the same holder that's being allowed to sell out via the existence of this buyback, or the whole reason why this buyback is in place ?
I note a question on another BB as to the wisdom of spending cash on a buyback when some CLO's are considered so cheap so this cash could be invested instead.
NAV of EUR 0.6372
10% of that is 6.37 cents. Our current annualised div is 1.6 x 4 = 6.4.
Current yield is 14.5%
Current SP is under 70% of NAV.
Nothing that glares as a worry from the factsheets.
All on track, all is OK.
IMO The yield could literally be the reaction to higher inflation, in that yields all have to higher to be justified as an investment.