Member Info for johnpwh

It appears that I have invested in an Oil Company whose ship uses more oil than it has ever produced

A 1m oz resource at Kiziltepe (I do wonder if Tavsan is counted in that, never has been before to my knowledge) would be astonishing. Taking my $1300 benchmark POG and Dr S' $600 long term costs then an operating profit of $700 on 1m oz?? Seems far too good to be true. Think I'll await the company guidance on those figures tbh

Its surely not 1m oz for Kizilcukur? I concluded that was a target for Kiziltepe including all satellites.
But as you say 1m oz at 30k production rate isn't 10 years. Seems a huge leap, was he including Tavsan in that estimate?

Well we'll see VanVan. He hasn't dismissed it yet although he has implied quite strongly recently that there may be other alternatives. Especially as its 3x into the JV, of which we are half owners! My hope is that he will negotiate a better, more realistic, deal to take it into the JV, it seems right to me for all the W Turkey assets to be within the current JV. Certainly seems a lot of effort being put into Kizilcukur, they clearly think it is viable asset

After much thought I decided to bail a few day ago when ITM regained my 24p purchase price.
Just don't see it gong anywhere, unless it is taken over for it technology - which may happen.
I genuinely wish all luck to holders.
John

I have managed to resist so far, as you say Claret I did say no more!
I heard that Joe Hart is a pallbearer for Gordon Banks. What an honour for him

Am also watching the situation. Gold/Silver have had a sudden marked correction which must be the price driver. AAU hasn't done anything wrong that I can see. I am in the middle of changing stockbrokers so buying a top up using the new brokers, just to test there systems you understand, is tempting.

Got me thinking about what the transport infrastructure is like to transport the many tons of ore from the proposed Kizilcukur pits to Kiziltepe for processing. Will roadbuilding be required?
Each dump truck can take say 25 tonnes at maybe 4 grams/ tonne. So each truck takes enough ore for 100 grams au (plus x amount of silver), which is 4 oz. Additional cost/oz implication?
Just thinking out loud

Thanks for this.
Interesting to actually see a partial core sample. Note also that they seem to be 50% through the drilling program now, and that the weather looks amenable to getting the rest done pretty sharpish. Its good that they haven't just sat round all winter like I have!

Haven't met anyone here that can understand why you chose this particular 45th President, but then again I guess the choice wasn't great. Just hoping that there is no chance he serves 2 terms.
I hope we stand up for our own meat hygiene standards but frankly I wouldn't bank on it. I don't however think there is much special relationship left. Something cultivated over many years of diplomacy seems to have been destroyed in the last 2.
Yep, I have confidence in AAU, but would make me nervous to invest any further. Already way over what I intended. Back from a couple of pints of warm(ish) ale. Nice way to end the weekend.

and not only gold suffering!
Ouch

Eventually found it. No new info but worth a listen. The interviewer was a bit away with the fairies!

Good to hear from you again DJ. You add a certain 'something' to this board.
I don't subscribe to the hysterical posts about the re rating of Gold, as my previous posts will show. I base decisions on a Gold price of $1300. Just looked up POG on Nasdaq Commodities and guess what. $1299.2. If it does happen to re rate its just a bonus.
Hearing a lot today about American demands for a proposed post Brexit transatlantic trade deal. After all we do have a 'special relationship', dating way back before the Thatcher/ Reagan era. My cynical friend thinks that relationship basically involves the UK taking its trousers down, bending over, biting down hard on a lump of timber and bracing itself. Anyway there is much focus on the US practice of chlorine washing chicken. We don't know about this, because it is banned here. Wonder if this occurs while the chicken is still running around clucking or post filleting??

Mr Marl
The wait appears to be having a detrimental effect. I suggest a dram and lie down.
Must admit its pleasant to be up a few '000 quid, though its only the few '000 quid I've lost over the last couple of weeks.
Come on AM, get chugging ffs

Hi Paul
Same here though it seem hard to get a short concise definition. As you say it seems the bank purchases the asset and sells it back to the company at a later prearranged date. I'm not sure that overpayments/shortening of the term are allowed but the impression I got was that as international finance evolves so Shariah rules are changing to compete. The banks wont make such loans to pornographers, breweries or pork sausage makers but I guess that is understandable .The amount repaid exceeds the loan, so us actuarial types would be able to calculate an implied implicit interest rates. There are also 'penalties' for late payment - hope those aren't too extreme! As you say it is interesting that the lender appears to own the asset so if the company folds then legally I guess they own the asset but have no call on any cash in the company? Don't know, and its firmly filed in my brain now as 'that's enough, don't need any more detail'!

Claret
Exactly the same thought occured to me over my cornflakes.
DJ, hows things stateside?

Dibs, Claret, LoB
Every time I see Sean Dyche on MOTD it occurs to me that, out of all the premier league managers, he is the one I would least likely to want to upset! Would make mincemeat of me.
Wonder why AAU appeals much to Burnley fans??

Paul
Didn't know it was an Islamic loan, I have heard of those but not sure how they work. An old cynic like me thinks it is likely to be smoke and mirrors, with (as you imply) and implicit rather than explicit rate of interest. So what happens, do you ask for $20m say, receive it, and immediately owe a repayment of $25m?

Have seen so many posts about how POG is going through the roof based on this irrefutable logic and that nailed on fact. Like some of the other more conservative posters I no longer jump at these claims, heard them so many times before over the years, particularly since the financial crisis and QE, by 'gold bugs'.
Both metals have lost a lot this week which will of course have its affect on the sentiment towards this share. Hopefully not back to the $1200s

Hi, welcome to this board.
It is true that net income into the JV does exceed capital repayments on the loan by a significant margin. I'm not sure what the figure is net of other expenses at the JV and AAUs level are, certainly think that would consume a chunk more. Half of the $33m dollar construction loan has been repaid, leaving c£17m to be repaid in just over a year - does your $3m/qtr repayments include interest payments? I doubt this loan was achieved at the 2% interest I get on my cash savings!