Member Info for Happytom

Read between the lines. Cash flow issues, so components were not provided. Some agreement must have been reached as everything is now back online with a new schedule. No mention of Tri-K as it may well not be our asset for much longer, but so long as we get a sensible price for it, that is not a bad thing. I'm pretty sure that we'll get more $15-20M for is, which is the outstanding to Elliot, so that is how we'll fund the shortfall for the rest of the year. Given the trading conditions and the amount of issues that have to be addressed in terms of infrastructure, the BoD are making the best of a bad situation.

And to put that in perspective, $50 increase in POG is about 10c on the share price if we were to assume that all other assets are without extractable gold (which to be clear, is an invalid assumption!), so the $25 increase so far this week should have added about 3p to the price (at least on my dream world!).

typo, sorry, meant to write $20M per $50 increase in POG. My opinion on POG is that we will stay in the same trading range as the last six months (1150-1400), but will trend to the upper end of that over time until mid 2015. After that there will be the start of a re-adjustment up alongside Chinese manufacturing and the USD stabilisation. Some are saying that we'll head back over $2000, but I don't buy it at this time as that would be sparked by signs of a new recession and I don't believe that the major economies have exited the last recession yet, so there will be no global GDP spike upwards, and no corresponding adjustment back down again. I don't actually think that 1600-1700 is that cautious, but I've been in this game for far too long and can't quite get my head into the idea that we are permanently above 1000 yet :)

looks like you're right - it'll take a long while. I've been trying to figure out for a while why there is so little buying / selling activity here. Plenty to shout about in terms of company progress (both down and up), but there is just no interest. I'm off to buy a megaphone and tell people that there's a small British company floating around doing good things with large contracts underway!

Few holes in it in terms of explanations - why only use the central pit at Soma for any calculations, and what is the plan for Tri-K for instance? However, good to see that even with delays on the circuit we need less cash than previously forecast, and a $50 increase in gold price adds $80M to the revenue - I'm looking at a 16-17 price of between $1600 and $1700, which would give us a very healthy profit. We're getting there!

Should be a good day tomorrow, pretty small volume today, and it should be in the news! well done BoD, heading the right way.

I think that that is the most concise trading report that I have ever read! Not sure how orders are both up 14% and 35% - little more detail would really help.

Ignore the price,just go with what you believe. For one, I think we are below price, Schlum are finally bringing major upside, so forget about day to day price, and look at the future!

Its already happening mate - not hit the top stocks yet, but take a look at the share price performance of smaller companies. Looks to me as if the mms are trying to push a new record high for the ftse 100 at the expense of everything else. Don't think that this is over valued though!

Ahh Lofty, so little faith. Get that fighting spirit back, we'll get there eventually!

May have missd something, but I don't see anything about further financing, just that they're exploring some kind of restructuring, which could be a good thing, even if it is a debt for equity deal - 400M odd of debt is very high against less than 4000 bopd, so anything to reduce that would be positive in my view.

Completely agree - I've been concerned for a long time now that we are vulnerable to a takeover around 30p, or that we sell Tri-K or Souma on the cheap to help current cash flow. Not sure about your gold in the ground number - nearer to 1.3Bn at current prices, or were you talking profit at todays price?

and remember to add on analysis time for RPO before we get any hard production plan rather than just raw resource estimate - on past experience anything from a couple of days to a year!

How long is that piece of string? Depends what they find on the way really - its an exploration rather than a targeted production well - although having said that, we have had little or no info on what Schlum are doing, so if its instigated by them it could be for prod. Generally though, progress is broadly similar vertical or horizontal (in the depths that we are talking about, obviously different for very deep wells and off shores), so expect some news very soon.

I think that the prod costs they quote for Inata include all admin costs (including loan repayments), so yes, at 1250 we are profitable.

Price was slipping away, US are suddenly buying in quantities - maybe this is the start of the climb that I've been looking at for the last couple of months!

Ha! I don't invest in the stock market per se, I invest in people running companies, and this one looks good to me. Obviously my comments about 80p are tongue in cheek - I'm guessing that it's a mis-post from Canna, but I pay no heed to anything that they say on any stock ever, as they are almost always wrong. We're in a bad place at the moment, but that doesn't mean that we'll stay that way - we have a lot of resource in the ground, much of which can be accessed cost effectively over time, and despite grumblings about lack of communication, this BoD has in the last year managed to get a very significant loan from Ecobank, and removed us from the hedge arrangement that was in place when we bought the mine, which sets us up nicely for the future. Like everyone else, I'm very disappointed at the lack of news on financing through the current period, but as I've said before, if you owe the bank ten grand that you can't repay, you're in trouble; if you owe them 80M that you can't pay, then they're in trouble, so there will be a way through this. As for whether I should be investing, I make around one percent a day across my portfolio, so not doing too badly. Happy

This has been telephone trade only for weeks with my spread bet provider, and they've gone back to full dealing today. Let's hope it's good news, but with Ukraine situation I'm confused as to how good it could be! Happy

It is for(at) Inata, but the analysis of the ore body at Tri-K has shown that it is suitable to be wholly processable using carbon binding, so the likelihood is that rather than building expensive processing infrastructure at Tri-K, the ore can just be shipped from there to Inata for processing. The ore at Tri-K is much richer (sorry, can't remember the numbers off the top of my head) than the remaining ore body at Inata (except for the new deep horizontal exploration that may yield additional ounces, but is not yet in the LoM plan), and the access to it is easier, so the mining costs are considerably lower, and utilising the CIL at Inata means that the processing is much lower too - hence the estimate of around $700 / ounce as opposed to Inata's circa $1100. Happy

Why not - binding circuit comes online, so full access to Tri-K resource (around $700 / ounce all in), with a new partnership announced, or Souma sold off. You just never know with this company - price is held back at the moment because if uncertainty more than the small margins, if we can get certainty, then we'll very rapidly recover. Happy