Moneymaker, I'm sure that I'm not the only person reading your posts and trying to make sense of them - the distinction between 'realism' and 'opinion' but I'm going to let it drop since you're obviously wrestling with some inner conflict. A baseline figure of 30p seems very low to me, much less 20p.
Holding for what we all expect is going to be significantly higher than 30p seems like the best view you've expressed and I'm glad to read that this is what you intend doing.
Because you're sowing the seeds of doubt Moneymaker. By reducing your baseline figure from 30p to 20p, you're hoping to encourage peeps to offload on Monday. It's pretty obvious and it's totally reprehensible IMO.
Everyone needs to do their own research. When you have traders like Moneymaker posting inconsistently, it's probably best just to ignore them.
One of the lowest assessments made in recent times was that by ShareAnorak at 35p. That was before we got the Tipil licence and it certainly didn't take into account the MT flanks. It was not a widely accepted baseline valuation, I think that it's fair to say.
I'm not going to harangue Moneymaker but newbies reading this BB do need to be aware of the positions adopted by some who post here, according to their trading activities. Moneymaker is very much one of those, sadly.
Good to see you posting again stockdale. I remember our conversation prior to suspension when, as the SP was racing, you were thinking about top slicing at 14p. I assume that you have, since suspension was lifted, actually done that and are now trading like Moneymaker? Let him answer for himself, please.
Moneymaker, 8th August 00:29 - "Yeh I agree, it’s definitely among my lower risk investments as I can’t see the company going for less than 30p, although more likely significantly higher". And yet you now post a baseline figure of 20p. Was that a typo?
aandi @ 3:15 (really? - You are a night owl!). "There was also a poster recently who talked about resource grade metals and pure grade. Should we be valuing the in-ground metals at the lower grade price or pure grade? Really not sure about this". That was MrYFronts. My 'deceit' extended no further than using avoirdupois ounces, rather than troy ounces; the then current full Ask for Platinum; and no adjustment for mining and processing costs.
So, to answer your question, the stated resources are always quoted in terms of the 'pure', refined, metal. This is an industry standard.
In one sense, it is old news inasmuch as the final regulatory approval was granted some time ago (exactly the same position we're in as regards the MT flanks licence). All that happened on 6th August was its being made official by being entered on the Register. Until that happened, there was nothing that the Co could RNS - there's many a slip etc. A1ex did allude to this yesterday.
So why the sudden rise in the SP? I think that it's attributable to two factors.
First and foremost, the SP has been kept tightly in check by the mm's. It's pure speculation that this had something to do with JUB Capital, which has been extensively discussed on this BB. It, surely, must be something more than mere coincidence that the mm's finally lifted the control they had been exerting on the very same day that the Liquidators' meeting of members of JUB Capital took place, hence my 'JUBilant' post.
Secondly, the news heralds an obligatory RNS in which we might very well be given more than the mere confirmation of the Tipil licence having been granted. Large trades yesterday going into the COP and beyond (the uncrossing trade after hours and the PME's) seem to point towards our being given something other than a perfunctory RNS merely confirming the grant of the licence. Whether that's because of the usual problem of leaky ships (not yours Tilly!) or because of the usual 'buy on the rumour', remains to be seen. I guess we'll find out when the RNS lands.
Come what may, the mm's have lifted the lid, finally, and I think that we can expect to see a more open and vibrant market in the shares than we've seen of late, moving forward.
All IMHO and DYOR as ever.
I've never claimed to be the Messiah but nor have I ever had multiple personalities. And, yes, it was a device and it worked. I don't usually go in for such stuff and nonsense but I had to give you some rope with which to hang yourself. You did very well.
How come you've never, ever, posted on AMC, where you claim to be invested? Only ever here and in a guardedly and questioningly negative way like your post at 11:12? It's all very reminiscent of 'Voldemort's' style.
Anyway, you fell for it and, in doing so, earned your place in the green coffin. Goodbye.
PS If all of your lady friends, these days, are dry you might consider boxer shorts. Y fronts are real passion killers, I believe :-)
It was a miscalculation by design MrYFronts. The maths were wrong in so many ways. I knew, though, that you'd be the one to pick up on it...... Gotcha! :-)
For someone who claims to hold three times as many AMC shares (where TDT, whom you have sought to defend, posts rampantly) as EUA (albeit not in value), I do find it interesting that you post here aplenty but not at all there. People can make up their own minds. I was 99.9% certain that Spikeyj and TDT were one and the same person and, since our old friend Spikeyj has been retired, I'm now reasonably sure that you're the substitute.
Do have a nice weekend.
I wondered when you'd take the bait on that MrYFronts. Here's one I prepared earlier for you just waiting for you to hook on:-
Are you sure that you aren't another one of TDT's avatars MrYFronts? You sure do post like him (@11:12). Have you read the Annual Report which says:-
"A feasibility study and revised reserves report for the Kluchiki work area was approved in mid-September 2019 allowing development of further reserves at that location"
"Due to reserve and operational data generated over several seasons of mining, the Company has been able to strengthen its geological data set considerably. As a result, the drilling already undertaken is considered sufficient to categorise all resources on the mining license as mineable (as per Russian mining standard (GOST)), without further drilling. This was a major development for the project and Company arising from discussions with leading industry personnel and heads of federal level resource industry governing bodies in early 2020. The Company has now commissioned a single Feasibility Study for the entire mining license area, replacing all exploration and reporting work streams with a single commissioned report. This feasibility study, to be approved by federal rather than regional licensing authorities comes at a fraction of the cost compared with the site by site approach, with further resource drilling, pursued previously. The study can allow much greater flexibility in mine planning, development of multiple sites in parallel, and significant increases in production volumes over shorter time scales.
Had a sudden bout of sea sickness when, at long last, the flood barrier was lifted. That was some wave. Well done everyone (except the day traders who sold).
Surely, it's no coincidence that the meeting of members took place today on JUB Capital's liquidation? The Liquidators' Auditors will, I hope, have finished their work and I suspect that we have seen the last of the late reported trades from before suspension.
As I posted earlier, what an excellent Friday. Much to look forward to now that we've broken through the 20p barrier which saw quite a few LTH's top-slicing the last time we were in this territory. There shouldn't be any repeat of that now. The next RNS will see the blue touch paper well and truly lit. Bring it on! :-)
The Sun's shining in Leeds for a change.
A1ex has worked his magic again.
And my fellow Loiner (still prefer Leodian), Rowka, has popped in to say Hello and give us some rather poignant but inspiring insight into his background. Hopefully, you'll be able to find the time to join us at the party in York, Rowka. It sounds as though you're going to have a lot on your plate for the foreseeable.
Who needs an RNS? :-) Actually, with A1ex's discovery, we should be getting one soon. It would be nice to think that it will be more than just official confirmation of the grant of the Tipil licence. Production output from WK would be more than welcome, along with some words of reassurance that all is proceeding well in 'other respects'. Clearly, they'll not be able to give us any details about the ongoing discussions/negotiations/offers for the Co unless they have received an offer that they are able to recommend to Shareholders. But, hey, you just never know do you?
From the same RNS to which you supplied the link mac......
"Kluchiki open pit - further details
Kluchiki open pit occurs within Tylai river system and within the West Kytlim mining license awarded to Eurasia's subsidiary Kosvinsky Kamen, valid until 2040. Reserves and resources were identified in the area and achieved state approvals as part of the feasibility study approved in early 2014 (see RNS dated 22 April 2014). As per the 2014 feasibility study and reserves report a total of 319kg raw platinum has been identified at Kluchiki".
319kg of raw Platinum is 11,252oz. At US$1K/oz, that's US$11,252,000 which, at the current conversion rate is £8,596,921. Not bad, eh?
It's quite academic where he might have gone..... much like many of the reams of cut and pastes that he filled this BB with. Only a qualified geologist could make sense of much of what he posted, which might very well have been copyright protected material. It's one thing to advance a theory or hypothesis with footnotes and references in support but it's quite another to simply cut and paste someone else's research, especially if you don't have their permission.
Wherever he may be, I sincerely hope that he is in good health and enjoying whatever he might now have turned his hand to.
In the meantime, I'd like to change my guesstimate to £1.48 (an uplift from £1.44) simply because that chimes with my prediction of 14.8.20 as the date of the next substantial RNS, please. Thanks Ian.
From Ian's post of 3rd August -
1. London Stock Exchange ("the Exchange") suspended the membership of Jub Capital Management LLP ("Jub Capital") on Friday 17 July 2020 pending clarification of the firm's financial position.
2. The Designated Members of Jub Capital have instructed Sterling Ford to take the necessary steps to place Jub Capital into Creditors' Voluntary Liquidation. The Designated Members have proposed that Philip Anthony Roberts of Sterling Ford be appointed as Liquidator to Jub Capital, this proposal is to be brought to a meeting of members to be convened for 7 August 2020. The Exchange has subsequently been in communication with Jub Capital and the proposed Liquidator with regard to the firm's unsettled on Exchange trades.
3. In light of the information now available, the Exchange considers that Jub Capital is unlikely to be able to fulfil its obligations in respect of its unsettled Exchange market contracts. Therefore, under rule D100 of the Rules of the London Stock Exchange ("the rules"), Jub Capital Management LLP has been declared a Defaulter on the Exchange at 11:00 on 31 July 2020.
Ceasing of settlement
4. Member firms should ensure that no further settlement of their on Exchange transactions with the defaulter takes place. This is to ensure that the unsettled transactions, which will be covered by the Exchange's default procedures, are not separately settled. These default procedures will apply regardless of any "match-delete" activity undertaken in CREST; that process may change the status of the trade in the settlement system but cannot validly deal with the underlying trade. Similarly, any purported agreement between the parties to treat any unsettled trades as cancelled is ineffective as far as trades included in the default proce
Don't panic - I'm not talking about the aftermath of a nuclear explosion but, instead, the proximity of the atomic mass of Platinum and Gold which, back in the day when I was a lad (Victorian times), enabled fraudsters to use Platinum to make fake Sovereigns. Pocket scales back then were rather crude so, with a plating of Gold, the Platinum fakes passed muster. Just thought I'd share that interesting snippet with everyone..... definitely not to be taken as advice for making a quick buck. They'll chop your hands off if you get caught doing it :-)
Who wants paper money? The time might soon be coming when we'll need wheelbarrows to carry it around in like Germany in the 1920's. Now there's a thought..... who manufactures wheelbarrows? :-)