Member Info for JTS13

Somewhere around 17.8-17.9p for the end of this?

Decided won't top up until drop has been reversed... rather buy next top up on the way up rather than calculate wrong and get more on the way down.

e.g. buy in on 10% bounce, and that's still less than where we were just yesterday. Insane. Shall enjoy the long rise later

We bounced off of 19.6p on 8th Mar to start new trend higher... however, can see them trying to take this down to 18p

Personally amazed if we reach that low, but let's see what happens. Given the overall market turbulence yesterday, I only topped up with 10g yesterday. Keeping a lot in cash atm to see where markets are heading post holiday weekend

Jeeze, everywhere taking a hit today! Tried to short PMO but got error messages (annoying as that would of been great!).
PDL has almost dropped down to the floor here. We might see another test tomorrow (closer to the line), but if we can hold it out and wait into the new week, sentiment can change quick and rebound could be on.
Otherwise, looking at how to de-risk the portfolio. Can see a lot of shares primed for rebound, but this environment is a tricky one. GL all with the investments/trading

@Bigsmoke, always nice to have a pleasant board.

My favourite board is WRES. It's been kinda hijacked past few days, but there is a real social atmosphere there. Many of the posters meet up for a beer before AGM n big meetings. They also post about gardening and various other hobbies.
It's not for everyone, but waiting 18 months for a mine to come into operation is even more boring than it will be on here waiting for PDL to turn around.

I'm a rare poster myself, although beginning to post more recently. Read up most days though and agree that it's always nice to find an amiable board

"Statistics/figures can be used to tell whatever you want the end result to be. I simply said in the week pre update pmo & ENQ had reacted quite similarly. Nothing more nothing less."

OK, fair that statistics can be manipulated to support whatever you want the end result to be. The problem here is that the statistics completely contradict your conclusion.

A closer example of how to manipulate the statistics to provide a point would be to declare that PMOs performance was 270% WORSE than ENQ (derived from PMOs 10% decline being 270% that of ENQs 3.67% decline over the same period).

But then, this again is the opposite from what you want to say.... Hmmm...

So clearly Members and Mrd (and most others perhaps less vocal) are absolutely right to be frustrated. Having false statements on recent performance only fuels frustrations

PS: @Mrd. No problem

PPS: @Capra. You think drop that far? Am certainly waiting on sidelines for now. GS obv wants this down, but think severity of drop will also be influenced by brent performance over next few days

Sticking by my earlier message this week that think we could see this dropping down to 19.9p support. Am not sitting around watching, but will certainly be putting in around 15k if come across an entrance about 20.5p

Again, fully agree with CD that this is driven by shorts, meaning that once their threshhold is hit, there could be a squeeze and sharp bounce. Even if this does go below 19.9 (with next support being closer to 18p) I struggle to find any reason for us to even come close to that. The risk tolerance a shorter would need to push down to such levels is difficult to justify

Recovery shares like PDL are not for everyone. Takes patience to stick with it, and this is best gained by having sufficient financial acumen to know the forward story - i.e. ability to objectively see picture and remove emotion from the equation. GL all

For clarification. Open up a comparison chart on HL showing PMO, Brent and ENQ, with a 2 week window prior to TU until present.

During the run up to 16th TU, whilst brent had dropped a little, it closed (pre update) at a loss of only 0.1$ for the period.
PMO closed down 10% (10p) on the period, average trading range being even worse in the week prior to the the update of 84-90.5p.
ENQ contrastingly had only dropped 3.7% from 20.4 down to 19.67.

Returning to the question at hand... at which point during this decline of 10% was PMO supposed to be rising in anticipation of the trading update?

You are now comparing this (decline of 10%) to ENQs performance, which is up 15.6% since the above.

That's a performance variance of over 25%! How can this be mistaken for comparable?????

For arguments sake, pulled this from HL

Foresee GS shorting this down to the 80's again and wiping out all recent gains. PMO is a no brain long term hold. But investors don't dare touch here whilst GS control the SP

Retrace has been more than many of us thought - obv as result of the shorter coming in as the Colonel mentioned.

Personally, I can see this going down to closer to 20p. Reasons being that our MACD is turning negative and ADX is showing reducing interest. Early Mar lows and late April highs were also around this level, so it indicates a floor which would be difficult to break.

Equally, our SMA 50 should of about bottomed out now. My 'guess' would be that if we don't bounce of 20p, we should start to rise in another week or so as our averages improve.

As has been mentioned here before, IIs have clearly indicated that they're happy at 40p, and given that this is discount to NAV per latest financial report, it's just a matter of time before this starts taking the next step north. Ideally we take small steps at a time, as those large leaps are what invites shorters to come in and wipe out gains.

I posted earlier that would be happy with 35p at year end. After past months' SP movements, am thinking now that will see that long before year end. GL all!

GS has obviously been keeping SP down. But what're thoughts Re: impact of Norges Bank divesting?

Haven't dug deep, but they did announce in March about selling off their stake in PMO (REF: Press releases on 8th Mar)

RNS Holdings on 24th Oct 2016 put them with 16,448,065 shares (3.22%), but abstract from this article indicates closer to 12 486 528 shares at 1.8% at the date of above press announcements (https://www.upstreamonline.com/live/1723443/norway-should-pull-eandp-stakes-from-pension-fund)... note, I dont have subscription, so possible abstract content is out of context

So we know that Norges is selling. Perhaps much of the poor performance is related to this being offloaded?? Thoughts?

What was that you were saying yesterday DBNO about not referencing other stocks on a board??

Contrastingly, I probs will take a look over the weekend

Somewhere near 0.53 @ GIT. Initial purchases were 0.9 to 1.1 range, but did a little trading to bring it down.
However, as mentioned when the count was going in, I've sold out most. Had a family pot in of around 20mill, now down to 5mill.

It's interesting when looking at the charts. Seems to take around 2.5 months for WRES to recover from a placing. However, it's also coincided almost exactly with another placing (of one form or another). If we really do have enough this time (4th time round?), July could be a good month. Which would also make sense given that this is when the revised commissioning for the new concentrator is scheduled for.

But yeh, waste of time forecasting anymore. Too many variables and uncertainties with WRES due to MM changing things without telling anybody. Only time will tell here

@eggchaser. I tend to be reserved in estimates. Target is .72 for end of year (i.e. top-most resistance last year), 1.1 for first quarter delivered at full production. Climbing between 1.5-2p for interims after first 6 months of 2020 (i.e. end of 2020).
That'd give us an MC of 120 mill... I'm increasingly hesitant about us getting to 2p as 120mill with zero return to shareholders (despite fwd growth potential) is beginning to sound quite optimistic following recent delays. So may be closer south at 1.5p.
Still, that's 240% increase from now and 183% increase over my average buy. Not bad for a 20 month wait...equally, not amazing for an 8 year investment. But still better than most

Agreed @GIT. This is happening, just a matter of timing and patience...and then forecasting impact those two factors will have on cashflows and share performance.
The 'if' is not mute (wolf demonstrated things can go wrong after plant construction), but the when and how appears to be much more of the discussion.
S'pose we're still in a luxurious position to be concerned about how many bags we'll multiply by during the next few years, and who's more accurate in estimating the timeframe.

GIT, perhaps you should exchange names with Dreamingof as you're forecasts for WRES are definitely out there, lol

Personally, I think that combination of (a) warrants, (b) gold development, and (c) plant upgrading is going to keep our share price substantially deflated for next 3 years or so. And then we'll still have another 2 years of Blackrock loan to repay.

Not expecting any soaring before we've upgraded the plant. 2p by end of next year would be nice - but tbh really beginning to doubt even that will happen

Next couple of months are key. When a few LT holders are hesitant / down-sizing, that is never a good sign... We need some real news to bring back some positive sentiment. I'd rather buy another few mill at double this price knowing we're finally going somewhere than continue to wait out at these levels for much longer

DBNO, lol, obviously missing much of the reason for boards to exist!

Referencing other stocks is how we learn about new ops, or learn from mistakes...which is why nobody was complaining when you referenced both PMO / CPR in the same day during recent history on below said stock.

Actually, it's a really good play for PIs to compare with PMO. SP crash around 90% from 5yr high due to high debt, heavily shorted, covenant recently revised and company turning around with target of returning to 2.5x debt in near term. Anybody significantly invested in stocks like PMO should be drawing comparison on other plays (out of sector included) from which to learn from and make balanced decisions. Obvious lessons here is that it helps to recognise the impact that both manipulation (i.e. GS) can have as well as change in management (aptment of new CEO).

However, if you think that comparing stocks is a bad thing to do... guess that's just your loss

@MRD... check out PDL for obvious upward momentum. It's taking a slight breather the past 48 hours, but will likely start pushing north again before long. Similar story as PMO, but without GS manipulation. Worst case scenario of 50% by end of year

Amazes me that people still refer to US-China trade war etc as deals etc to be made.... Western media truly dumb to reality of China.
I spend most of my time in China for biz and China makes next to zero press announcements It just acts... eg, many of my partner companies internally threatened to fire anybody who purchased US products (e.g. dell computers) in retaliation.
Trump will always look like the bad guy cause he's fighting a silent enemy.
In the end though, he'll never get a good deal for US. CH doesn't back down. And whatever deal is signed (for face purposes) will be broken by China within minutes of the signature because they don't give a crap about western rules.
West will always lose cause its too "PC" to accept reality

If it's any conciliation, I've had stop losses triggered across 3 accounts and 2/3s of my holding sold off... Only had that happened twice before, and SP on both stocks went up over 50% within a week. So maybe you're in luck here

Was buying from around 60 through to 104, average at 86p. Ah well, can't get them all

Hmm...Miton raise, Warrant raise, and now debt raise. None of which have been explained - but we should all believe that we're on schedule and under budget... even though the originally communicated schedule was to be in full plant completion by Feb and commissioning through to mid-May (i.e. now!).

Another frustration, however, I THINK that this is a bi-product of 6 months delays in LP construction. The terms of construction which were interpreted by market as "fixed in cost and penalty for delay" were actually "fixed in cost with NO penalty for delay". So we've essentially lost somewhere around 3 months of revenues (i.e. cash) but still need to pay out the full operational expenses during this period. Most of our slippage/buffer integrated into the Blackrock financing was wasted on poor Forex conditions

If I'm right, it's poor project management, but not the end of the world. However, why do I need to "THINK"? Don't investors deserve to "know" what's going on with a company that we partly own?

If we were 6 months behind schedule, 5 mill over-budget, but receiving clear and transparent communication, I think that there's a good chance this SP would be 50-100% over where we are now. "What we got here is a failure to communicate". ;)

MM is a visionary. He's got the flair, character and determination to drive an idea. However, he is clearly not an implementer

If we close below 22.7, then yeh, could retrace down further. However, even though there's a chance, we're just a couple of days away from SMA 20 smashing through the SMA 50 - which should bring in a couple more techies. And given the diamond tenders this month, hoping for a nice RNS on sales of our big diamonds.
Let's see. Lots to be excited about in near term... however, anticipate some volatility as people understandably top-slice as we rise. Defo a 6 month keeper + imo