Member Info for hazrat

Against my better judgement i bought a few more yesterday hoping for a good Jorc. I say against my better judgement because given the narrow veins and limited drilling, i am not sure how it will even be possible to declare a Jorc estimate. Oh well, it is done now, just have to hope for the best.

Company has already stated that 400 per month won't be achieved this year.

Sadly a 500% increase doesn't put the share price much above its peak earlier this year.

I am so tempted to buy more but I have been here before. In my experience once it starts to go wrong, it gets a lot worse before improving, if it ever does. Hopefully this is the exception that proves the Rule!

Lets go for all the usual rubbish - there has been a leak, news coming, 1 code, blah blah blah. The number of trades is low as is the volume. More likely to simply be that the markets are having a good few days and so a few people felt bullish and took the opportunity to pick up some shares.

The SP having a good day

The former. Unless as discussed with Meg, i am missing something, this company is hugely undervalued and so it is to be expected that as markets recover, this company will follow suit.

That is odd, wonder where my post yesterday that there is a RNS out confirming Miton as the seller has gone. Anyone report it?

I can't help but feel after re-reading the update that Gasagwe is not as rich in ore as originally believed. It is for this reason that additional areas are required in addition to Murambi to reach the 400 tonnes per month run rate - the subtext is that Gasagwe is pretty much fully exploited. Hmm what to do. Hold off for the JORC i think. The SP is so low now that if the JORC is good, there is plenty of time to buy back in. Even a 100% increase would only be the start. Experience tells me that once things start going badly, the trend continues and it is very hard to pull off a recovery. o

Not even that short of cash after the last raise. O feel the drop is less to do with production rates and more to do with the issie with the veins. Sounds a bit like there isn't as mich there as first thought causing concerns about mine life etc. A good jorc will put a stop to that.

Another 300k loss on production

Hmm, not a great update sadly.

You are quite right, it is only a guess about ex director sells. While I think the company is undervalued, the market agrees with you Mega and so it may well be that i am missing something.

Sadly i have heard that before!

Effectively up to 30% discount on the shares. Almost tempted. However, from the look of it even this raise isn't enough to clear phase 3.

EIS eligible so almosy worth doing just for the tax breaks.

Some whopping trades today.

Last 2 reports on 24th of the month.

Should have got out when the going was good. Cash still provides a good buffer though so i am not particularly worried.

Mega, you don't need inside info to do detailed analysis - the recently published accounts have all the info you need.

I don't know if the ex Director is still selling but he had started reducing his holding shortly before retirement. Shareholders were informed as all transactions by directors are reported. However, if i had just retired and had several million concentrated in 1 share holding, i would be looking to reduce my exposure because the risk is just too high.

Fact is, this is a small cap stock with limited volume of trades and so it doesn't take much to move the SP either way. A few people get nervous because of Brexit and whatever else keeps them up at night and before you know it, the SP is do2n 10%. Same applies to all small listed companies and if one has the confidence to stand by your own analysis then these periods just have to be ridden out.

Maybe the doubters are on to something. I am dumbfounded by the recent drop which gives the company a pe one would expect from a company going bust.

Relatively positive? He suggested a 50% rise would give a normal valuation. Sounds very positive to me