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LK505

Do you think there is, or want to be a connection with this recent set back news to Galantas and the 28th October facebook post about rate strike by residents against mining in Omagh ?

https://www.facebook.com/CAMIO2018/posts/523217308240759

I am assuming this blasting constriction for Galantas has you jumping in joy. A blow to the local economy, peoples savings and pensions, but who cares right ? The UK's premier gold mine is a blight on the landscape where people should be walking their dogs, is that how you think ?

I am simply curious to know and open to debate.

I think you guys are being far too generous. This plan has been many years in the making and should be fee from problems like this and the plan being exercised with within rules updates to the market. To be marked down millions in value by the non showing of local police and their clipboards is either complete and total ineptitude or another obvious conclusion.
Roland has had loads of chances to inform and entice the market with interest and in doing so make the price high for any agreeable fund raising. Decent presentations. Website updates showing progress and mining, the recent and current gold sales are not being described and what this money is being spent on, neither the progress on upgrades, web movies , social media updates etc etc. If this is some sort of RNS to send a message then that is childish as and also ineptitude of the highest order. I hope to eat my words and see this as some sort of great chess move in hindsight, but let's face it, when has Galantas ever played games like this. We invested in an honest plodder.
If there is another shareholders meeting in the future, I will definitely be there to pose some questions.
Not happy. Not happy.

What the **** am I reading ? A policemen cannot be found to come and check box some forms whilst the blasting is done,m and this has somehow taken them by surprise to the extent of laying off workforce.

This smacks of complete incompetence by Roland Phelps and there is a foul stink in the room left by the missing details of gold sales paying for equipment upgrades.

So. Why not send a message to investors that the operation is being run by fools, so Galantas can then become market valued to go bust when it most likely now needs funding.

Send out the CEO to mumble through their plans to upscale operations, ten years in the planning.

Message to management. "Go to the AIM market though sluggard, learn its ways and be wise"

Significant week for PAF. Budget and Moody's. The tick up last week mostly due to the Rand movements.

https://www.exchangerates.org.uk/news/27615/2019-10-27-gbp-zar-exchange-rate-squeezed-by-brexit-uncertainty.html

'Meanwhile the focus for ZAR investors next week will undoubtedly be on Moody’s rating review on Friday.

Moody’s is the last ratings agency which still deems South Africa’s credit rating to be investment grade, but analysts fear that the country’s recent economic woes and the burden of cash-strapped Eskom could see it revised to ‘junk’ status, likely resulting in a sharp selloff of the Rand.

In light of this ZAR investors will also pay close attention to Finance Minister Tito Mboweni’s medium-term budget speech on Wednesday to see if the government may adopt any measures that could stave off a ratings downgrade. '

This from Sept.

https://businesstech.co.za/news/business/340087/south-africa-set-to-avoid-downgrade-in-2019-moodys/

"Ratings agency Moody’s is unlikely to downgrade South Africa from its investment-grade status in 2019, provided the country remains on its current trajectory.

Speaking to eNCA, Moody’s senior analyst Lucie Villa said that the country currently has a stable economic outlook, strong institutions and reasonably good foreign currency reserves.

However, she cautioned that there are still issues surrounding power utility Eskom which is facing R440 billion in debt.

While the government has proposed splitting it into three units and a policy paper by the National Treasury proposes selling coal-fired power plants, no strategy to stabilise its finances has been published yet.

“For us, there will be only one plan and that will be the one that both the government and the company agreed to,” Villa said.

“Knowing the complexity of the issue, we know first that it will be an iterative process and that it takes time. So our view has been that is takes more than a few months to sort out certain issues.”

Downgrade

Moody’s is currently the only major ratings agency that has South Africa in investment grade, one notch above junk, with a stable outlook.

The country has been rated below investment grade since 2017 by ratings agencies Standard & Poor and Fitch.

Should the agency also downgrade South Africa to junk status, the country would no longer be eligible for inclusion in debt gauges such as Citigroup Inc’s World Government Bond Index (WGBI).

This would trigger a major outflow of money from the country estimated to be in the region of R100 billion."

Personally I'm not expecting a divi in the announcement on 2nd November, but looking for assurances that the company remains profitable. IMO that was the between lines message in their previous reporting and conference call. EVR seems like it's priced expecting a return of around 40p or around $0.55 a year given that previously the SP was priced for roughly a 10% divi return.

There are quite a few US companies in the sector reporting as well as EVR.

High % inside shareholders seem also to made back their investments, IMO this doesn't mean a pressure to pay dividends, as reflected in the high capex spending, which will reward longer term.

I bought a holding at 398p recently to perhaps trade on an upswing by steel price stability and confidence in EVR with it's reporting.

https://marketrealist.com/2019/10/us-steel-companies-call-a-bottom-after-prices-plummet/
"In my view, US steel prices appear to be near their bottom. We should see some recovery as we head toward the first quarter of 2020. Typically, the first quarter is strong in terms of demand. Also, with supply chain inventory so low, we could see some restocking next year.

Domestic steel imports have fallen, and the trend should continue. One risk for the global steel industry is the expected slowdown in China’s construction sector next year. Looking at the floor area purchased for future construction, we could see a slowdown in the country’s real estate development sector next year. Given China’s dominant share in global metal consumption, a slowdown in Chinese demand could negatively impact metal prices."

Brexit weekend, Investment day this Friday and Trading update Q3 2019 on 1st November.

Interesting couple of weeks ahead for EVR, that's without the worldwide picture.

https://www.evraz.com/en/investors/events/trading-update-q3-2019-r/

Thanks for highlighting that VanVan. There's a link on their website about the Investor Day, I share below.

Any hint of the next Dividend level by Alexander Frolov, for a dividend in March 2020, and holding at a good level will be good news.

Steel prices are low and look roughly at 2017 levels.
So... Sticking my neck out with a humble opinion.
Prices staying at this level could well mean they'll keep the dividend around $0.30 which would indeed signal a boost in the share price of EVR, but would not react until the Steel price proves it can strengthen.
A strength of Evraz is highlighted in the recent conference call. https://finance.yahoo.com/news/edited-transcript-evr-l-earnings-184823821.html
"Yes. Speaking about our self-sufficiency, we are fully covered in Europe division, so with the NTMK, with respect to iron ore, so we're 100% self-sufficient. Speaking about our Siberian assets, our self-sufficiency is approximately 60%...
When we calculate the cash cost for steel, yes, we use the market prices."
"Talking about Russian assets, coal and steel I don't think that we expect any big changes in the cost just because of our vertical integration."

Putting that together, costs for the coming year similar to this year, capex spend of $800m and EPS levels keeping up with 2017. IMO it does mean the share price looks over sold and a slow bump rating upwards possibly to around 500p or more, as long as the steel prices hold up, which IMO look like they will if that World Steel Association article below is right.

Steel Prices : 2002 to 2019
http://steelbenchmarker.com/files/history.pdf
https://www.lme.com/Metals/Ferrous#tabIndex=0

World Steel Association
https://www.steeltimesint.com/index.php/news/view/world-steel-association-short-range-outlook-significant-downside-risks-ahea

"Steel demand in China will grow by 7.8% to reach 900.1Mt, according to the World Steel Association’s Short Range Outlook (SRO) released today. The rest of the world is expected to record 0.2% growth to 874.9Mt.

For 2019, global steel demand will grow by 3.9% to 1.775 Mt and by another 1.7% in 2020, reaching 1,805.7Mt."

It's all speculations and roundabouts though. But I am looking to average down my holding and buy, now we're just above 400p, the base of the broker recommendations.

Anyone else with opinions ?

https://www.evraz.com/en/investors/events/cmd-2019/
The event will begin at 9:00 am local time and include presentations, Q&A session and a buffet lunch with management. The registration will begin at 8:15 am local time.
Key topics and speakers:
Opening remarks - Sir Michael Peat, Senior Independent non-executive director
ESG - Alexander Frolov, CEO
Market outlook - Alexander Frolov, CEO
EVRAZ’ strategy - Alexander Frolov, CEO
Strategy execution - Alexey Ivanov, Senior VP, Commerce and Business development
Digital transformation - Artem Natrusov, VP, Information Technologies
Financial overview -

Thanks Thaiflyer. I share the frustration.
I just look at the fundamentals, read the accounts and google relevant articles. I would not say that's knowledgeable. I was also attracted by the Abramovich involvement especially after see Highland Gold's progress and gaining confidence in Russian companies for example Trans-Siberian Gold, which has come good after a long wait.
Anyway yes, I've got no love for Goldman Sachs, with their seemingly involvement in various investment conspiracies some of which can no longer be Googled.
Their price target however has been overtaken downwards.
If there is to be a steel recess, I would like to know where on the scale of cost per ton, Evraz is placed amongst other steel manufacturers. I did note their diversity into solar panels recently, which I see as positive.
https://www.power-technology.com/news/xcel-energy-evraz-lightsource-solar/

Hi TalkingMyTime

A sensible answer. Thank you.
Well perhaps it's a good sign that there's increased activity on here, It could mean that the fundamentals after the recent drop are proving alluring..
Skier. Can you justify your thought process as to why this will go to 200p ? Are you currently short EVR which brings your interest in the discussion ?
Thaiflyer, What is it exactly on level 2 that's spooking you bringing your cry of manipulation ?

Will we get the likes of "This is going to a pound", "Fill your boots 8 quid a share in a year dyor" or "manipulated, Treeshake by MMs hold".

I mulled it over again today, and again down it went. It's interesting we are now at the lowest band of all the recent broker recommendations, which does signal buying.

That is the question, and each I day I seem to mull this over Evraz's share price goes down another percent or so.
The steel industry is suffering massively with trade wars, macro economics and all sorts, yet there is the basic fundamentals of EVR which hold an attraction, for example the steel cost per ton of $238, iron ore $38 (both less than half the current prices of steel and iron ore) and their investor positive attitude to sharing much of the cashflow as dividends.
This page on their website nicely has the recent broker recommendations and shows the SP is now circling the base of this range.
https://www.evraz.com/en/investors/consensus-estimate/
Time to buy ?
Moodys downgraded their outlook to negative from stable. Bearish as EVR coorelates with the SLX, the Steel ETF.
https://edition.cnn.com/2019/10/04/business/steel-industry-downgrade/index.html
Chart not looking good.
Time to Sell ?
Or turn off the watchlist and check back in a year or two.

Any discussion or thoughts out there ?

Hi Husk Finance.
In a nut-shell .There's bearish-ness about the Steel price, the so-called steelmageddon along with the Steel producers being Hammered by the NYE.
By and large Evraz tracks the other steel producers as you can see with the link below, arguable it's over sold since the bearish broker forecasts around the last report, generally to do with a bearish outlook on Steel, as this article.
The steel price forecasts still allows profit, double the cash cost per tonne as per the last report, meaning divi's should continue, maybe 2 per year, current levels, yield >10% all IMO.

https://finance.yahoo.com/news/bank-america-cuts-steel-earnings-142541564.html

https://finance.yahoo.com/chart/SLX?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cubHNlLmNvLnVrL1NoYXJlQ2hhdC5hc3A_c2hhcmVUaWNrZXI9RVZSJnNoYXJlPUV2cmF6&guce_referrer_sig=AQAAACy-yLVG_9-yZTkNIiFOB0GLNGIb8sxgwOv-cgbJtcMzpHBZBVJssTlzmIkMIkzLExwc5sJRhexITk2eGsClbRu4yvfkIVBjM-K36hSg4LhRoPHsuacsdIZbT2jMnrrPVUysILKUIz4g9D82p5Eg6iCJjGxx3aOpSuCsCD0tPUxw#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%3D%

Opinion: Somewhat frustrated.
177 hits now on youtube.
Lets hope he'll employ a new voice to represent the Galantas for these presentations. Not the most charismatic presentation and constant murmer and chatting throughout. Would be good to see them start to have a proper strategy that appeals to private investors. The price of gold is at it's highest for years, yet we have 10 grands worth of trading in a handful of trades knocking a million of the market cap !
No director buys, no word as to how our income from the gold sales is being spent on the equipment, progress on the mill, no social media, no press coverage, media or anything new on the website.
Come on Galantas. Was this shared by the company to it's mailing lists and others, and promoted on media platforms? The very least, this video should have been pushed on youtube with paid advertising on google, there's plenty of people searching gold at the moment.

Thanks.
Cobus Loots target of 18 months debt clearance can't be sniffed at IMO. The recent projects and the way's he's handled the politics and large workforce has been very good. IMO over and above the kind of steady progress we have come to associate with PAF in the last 10 years.
Even if the debt is paid off after 2 years, the dividends likely in the third year will be very healthy, even 2p to 3p a share. With this level of profit, there will be new projects, or even the prospect of a share buyback.
I'm in for slow and steady growth, with the normal bumps to 20p underpinned by dividends,
IMO The recent peak seems inline with the gold price in GBP but also the USD / ZAR rate.

Agree. Great Results, cost per ounce down and $38m Profit after tax for our Market cap of, P/E ratio of around 8.
Return of dividends is good but the level is cautious or prudent.
The gold price went up an extra $100 since the period of these results, End of June, and bodes well for the second half of this year especially keeping their costs per ounce. Would send annual earnings way past $50m.
Anyone worked out an estimate of how the debt levels are reducing ?

Wow. Is this a chat room with Little Englanders !
The EU. Free market + Free Movement = Huge Wealth. Just look out the window in London towards Canary Wharf for proof.
EU Army. A cost saving exercise that can be vetoed by any one of the EU Nations that has ever diminishing defense budgets. Basically a great idea for the part of Nato within the EU, twisted by the loony Daily Mailers and Farage followers into some sort of bad.
EU Presidents and cabinet equivalents, Elected by the Elected. Pure democracy at work.
Boris, using undemocratic means to force his own minority approved agenda through, shutting down parliament and breaking the law. He doesn't even care about the country. No Deal = 9.5 Billion in Tax Cuts to higher rate taxpayers, paid for by the 9.5 Billion in net contributions to the EU.
WTO Rules, will affect 70% of our trade, a sure fire way to force all EU operations of small and large companies to relocate to mainland Europe so saving their existence if on small margins, which most are. The Car industry has already stated this. Around million jobs to be lost.
Drain on the NHS, 200m, a drop in the NHS ocean.
Scotland will vote for independence.
Business for staying in the EU, practically all of them.
Business for leaving the EU, Wetherspoons, Dyson who's relocated to Singapore, even Rees-Mog relocated to Dublin.
No more seats at the top table of world politics, with the vast rise in the world's population of middle earners set to squeeze our little country down the world ladder of GDP.
One could go on and on and on on.
Basically it is very difficult to think of single benefit to leaving the EU.

Rant Over, you can fire back all you like and no doubt continue in this BB.

Hi Kragero. Good to see you here.
I have recently sold a large part of my holding here, as my target was always beyond a pound. I've kept a small holding and if there is a drop I may buy back in. The Dividends have also been very welcome and nice to see the market recently react positively to TSG. The BOD played a blinder with the buy back and that good DIV last year. It was many years and a long time waiting ! No doubt after selling this will now soar to 200p :|
Goldwise. I'm still holding Galantas, which may also finally come good this year with production just starting up again this summer.

Hi All.
Just looking at this comparative share price graph, with EVR matched against the SLX ETF related to price of steel for the last 3 months.
In my opinion shows EVR to be oversold, with an SP in the 600s if the two prices were more unified in their correlation. Link below.
EVR has been tracking this with growth above the line for over two years, until the Goldman Sachs and other recommendations to sell in the last month or so.

My question to anyone reading is what is the critical price of steel for Evraz to stay in good financial health ?
Interested to know if there are views on this before I delve into the accounts and steel prices.

https://finance.yahoo.com/chart/SLX?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cubHNlLmNvLnVrL1NoYXJlQ2hhdC5hc3A_c2hhcmVUaWNrZXI9RVZSJnNoYXJlPUV2cmF6&guce_referrer_sig=AQAAACy-yLVG_9-yZTkNIiFOB0GLNGIb8sxgwOv-cgbJtcMzpHBZBVJssTlzmIkMIkzLExwc5sJRhexITk2eGsClbRu4yvfkIVBjM-K36hSg4LhRoPHsuacsdIZbT2jMnrrPVUysILKUIz4g9D82p5Eg6iCJjGxx3aOpSuCsCD0tPUxw#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%3D%3D

Hi All, and good to see you around and on here TD2.
Just sold. My average was 6p, so at .35p it's a tragic loss. This company is on life support with the beeps becoming irregular since fluorspar left the room. That something I got back was better than nothing in my view, and part of my painful learning in holding bottom drawer shares that slowly wilt away. If the directors can squeeze another placing so they can scrape a years salary or even some exploration (even if it's in the form of a BA return to Nevada, a tent and some tools) then good luck to them. For me there is no value in picking up a few rocks whilst wishing one was a Burning Man Festival nearby and proclaiming there's zinc and silver in the distant hills. How many parts per million ? I reckon there's more in Battersea Park since Sally lost her silver bangle on the grass. No doubt TYM 's share price will grow another few 100% now I've sold.
Good luck everyone !

If the concentrate sales achieved $460,000, then surely we should see exactly how much and where this money has gone in these accounts, especially when only $15,000 has been paid off to the Ocean Partners loan. Shouldn't the shareholders know exactly how much and what's happened to their concentrate revenue ?

From the pdf
http://www.rns-pdf.londonstockexchange.com/rns/7025J_1-2019-8-20.pdf

"Shipments of concentrate to Ocean Partners UK Ltd commenced early in the second quarter. Concentrate sales provisional revenues totalled US$ 460,000 approximately for the second quarter representing approximately 154 tonnes of concentrate. However, until the mine reaches the commencement of commercial production the net proceeds from concentrate sales will be offset against Development assets."

"Earlier in 2018 Galantas announced that its operating subsidiary, Flintridge Resources Ltd. has signed a concentrate pre-payment agreement and a loan facility agreement for US$ 1.6 million (CAD $ 2.012 million) with Ocean Partners UK Ltd., a United Kingdom based company, together with an increased, on- demand loan facility of £600,000 with G&F Phelps Ltd. Repayments of the Ocean Partners loan are made against deliveries of concentrates which commenced in the second quarter of 2019 resulting in US$ 14,908 (CAD$ 19,131) being repaid during the quarter. The maturity date of the Ocean loan facility is December 31, 2020."

Hi TakingMyTime and all.

Goldman smashed another 40p off their sell recommendation to 460p, but today EVR remained resilient, most likely due to the dividend IMO.

I found this extract enlightening on the Dividend level. It's from the conference call, link below.
https://finance.yahoo.com/news/edited-transcript-evr-l-earnings-184823821.html
So it's more a case of paying out what's in the account, and it was interesting that that's how their peers do things.
They once again say they expect volatility without an explanation, however reading this kind of online article backs up the share price going lower.
https://agmetalminer.com/2019/03/20/looking-ahead-part-1-a-surprising-outlook-for-steel-prices-in-2020/

Operator Instructions) Your next question comes from Andrew with Wood and Company.

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Andrew Ian Jones, Wood & Company Financial Services, a.s., Research Division - Equity Analyst [43]

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Just a question on dividend. You, on one of the previous calls, said that you're comfortable with your level of net debt and you didn't really want to reduce it further which implied to me that you were looking to pay out a 100% of free cash flow going forward, kind of in line with some of your peers. That wasn't the case in the first half. Could you give us some color on what your intentions are for dividends for the full year this year relative to the free cash flow? Should we be modeling it in line or slightly lower? It would help if you could give some idea about the dividend expectations this year. That's my first question.

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Alexander Vladimirovich Frolov, EVRAZ plc - CEO & Director [44]

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Look, what we have been telling before, we have commitment for the minimum dividend payout. And if the Board decides to pay more, decision would be based on consideration of financial performance of the company, so saying -- but also future needs of the company. And for example, what we're doing now, as you mentioned yourself, we're not going to increase net debt. At the same time, we expect more CapEx for the second of 2019, and we expect in general more volatile market in the second half in comparison with the first half. So that's why I guess the Board made a prudent decision not to pay as much as you can see.

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