Member Info for JTS13

Suggest you do a little research @Maestro.
Blackrocks remaining 39+mill came up for sale on 26th April. Take a look at volumes on a 1 month chart and you'll see the spike when they sold. This equated to 4.57% of PDL - and as BL are US-based, they don't need to follow the UK's dropping below 3% notification rules (US = 5% and why the RNS on 26th just stated "below 5%").

Also noted your post from yesterday re:debt. Obv' the answer is yes, which is why the SP plummeted 90% in a few years. And given that debt is no longer climbing, that covenants are renewed & that key seller is gone, that's why this is now one of the best re-rate opportunities on the LSE.

Just read a couple of the recent RNS's and info is all there.

We'll re-rate in time. 25.5, 27.3, 30, 33, 36 and 38 will each offer a little resistance as we clear ranges and PIs top slice, but as Drake mentioned earlier, 40 will be a natural haven with which IIs are already comfortable with.

Understand that traders are edgy given recent rises in oil price... however, given news today, amazing that it's not soaring.
e.g.1 China confirmed importing 1mill more per day than last year
e.g.2 Russian Druzhba pipeline still have problems and could take "months" to clean

Not to mention Iran, Libya, Ven' etc etc... In normal (pre-Trump days) this sort of news would of added 10s of $s onto oil. These days it can't even stop a drop

Fully agreed, only question is with regards to time frame. Personally, think that a month or 2 (whilst possible) may be on the optimistic side. Will be quite contented to hit there at year end as per previous post - but would gratefully accept if time proves me too conservative

Have a good day

NP Russell. We've just moved into positive ADX 14 and pierced through the SMA 50. Anticipating move to continue into next week. We might have a few sales (as RSI risks moving into over-bought), but then that timing should overlap with the diamond sales and SMA 20 breaking through the SMA 50 - being a major buy signal.

Could be reading it completely wrong, lol... but anticipating a great month ahead of us

The drop to around 90.5p was foreseeable after we'd broke the ceiling. MMs were always going to shake out a few more PIs.
However, IMO clear buy signal was GSs RNS yesterday. Smart move would be to buy at 91p, as this will likely trade north to either 94.5, 97, 101, or whichever GS decide that they're happy shorting from again.

Fundamentals mean nothing. Technicals just give an indicator as to ranges. GSs RNSs are the key move setter here (obv IMO)

Apologies @Russell, just seeing post now... Clearly the answer is yes :) looks like it happened almost exactly when you posted

I'm still somewhat of a novice at techs (just trying to use a few to supplement investments on fundamentals)... My reading of graph at the moment is that we need a close above 22.98 and a break above 23.50 to move into the next range. (Ref: 15th March). Pushing above 22.48 being positive movement in preparation to attack this new ceiling...and then on to 25.5
30p looks like important level to break, and then on to mid-30s

Expect that we'll see considerable resistance approaching mid-30s as a lot of larger PIs in here will likely be top-slicing from their sub-20s buy-ins. The 100% mark from lows is always a killer!

Good luck all in here. I'm hoping for good news within next couple of weeks on the large diamond sales (along with statement that proceeds will be used to downplay debt) and then a good kick northwards. Will be happy with 35p before year end, but hoping for closer to 50p - which was historic low in 2015&2017!

Happy to hear other thoughts

Question is not only "when", but also "what" will happen then?... now, that's the exciting part! When GS finally let this go, it's going to fly!
Hears hoping it'll happen in 2 weeks, when the RNS comes out. If not then, then we could be screwed right through to interims - or longer if analyst predictions for oil to drop in Q3 comes into reality... I hope the sooner!

Agreed with your statement...

Irony though is that RNS's are released several days 'after' the fact. This puts a selling pressure on the SP, and it's actually about right now that GS come along and scoop up their shares on the cheap

If you time your buys shortly after a GS RNS stating that they've sold down, and sell just after their RNS stating that they've bought, there's probably a good bit of money to be made. They'll be picking up the shares either today or tomorrow for 5-10% below what they sold just a few days back. Scandalous!

@dtrade, it's testing my memory, so don't quote... but I think it was that there was a short squeeze on open, followed by much profit taken (as we'd risen by something like 50% in the 1-2 months leading up to it). Then we had a lot of fresh buys into PMO due to the positive update

Might not be entirely accurate, but think it was something like that

Sure, but could easily argue that PMO is priced at a discount to last year. With oil 71-73 range, we were trading up to 20% higher than todays SP - despite having knocked down debt a load, increased production, drilled some incredible acreage, and neared production of new assets (1 @q4 this year, and another next)... The debt factor alone should of added half a billion on to the PMO market cap

ENQ had a good financial year last year. The comparables in forward report will show modest improvement... quite a different play from PMO

tbh, not entirely sure why folks would prefer ENQ over PMO. I get that there is more of an immediacy behind bring down debt ratios (definitely a positive), but this is also partly cause ENQ doesn't have anywhere near comparable the exploration potential.
Only thing which ENQ has in its favour is that it doesn't come attached with goldman sachs... Some past year comparisons for PMO were underwhelming (due to poor hedging programme in 2018 for example), but given the improved hedging status for 2019, higher production rates, 4 billion quid in UK taxes, multiples in reserves and near-term uplift (Tolmount etc) etc etc would of thought that PMO deserves to be priced at several multiples to ENQ...

Agree that ENQ SP should re-rate and go up too....but not as significantly as PMO

@Mogwhy, I confess that I've been selling out the past few months and am now below the Top 20 threshold. The Miton and warrants updates have thrown my confidence in WRES and am positioning into other plays that have higher degree of certainty. Aiming to keep 5-8mill in here, but also decided will continue sell down further if no tangible progress by end of June... Over past 6 years I'd of made more keeping money in a current account lol / sob

After watching the new video, youtube auto played the March Investors presentation. Watching it again, 2 things came to mind (A) he strongly emphasises that Regua "will" come into production this year, see time stamp at 50 seconds. (B) But then he did state that "we will complete T2 construction in March/April" - see time stamp 1min 50secs... however, given that we're about 50% behind time on that in a 6 weeks window, the whole "will" complete Regua this year is back to being questioned

What I find interesting about the report (given that we already know the number of shares available for trading is very low) is that all these new Tungsten projects reference Barruecopardo, but very very few ever mention LP or WRES... Given that ORM isn't in production either (or at least they've not published any data on financials post-production) so that all we have to go by is their forecasts, are other companies not referencing LP because we're too competitive, lack transparency, lack reputation, or just not believed?
Whilst a small thing, it shouldn't be so common that other players overlook LP when making financial comparisons

FYI: Barclays technicals were rounded down. 21p wasn't & isn't the resistance. We were trading over 21p most of Friday morning last week.

Limited data to go on as we were only in the range for a short spell, but looks like we need to close closer above 21.18 to mark the lift, and 21.58 is what we need to break to push higher into the new zone... Our ADX (10) shows positive momentum, and whilst sma 20 is moving up, could still take a while before it crosses with the sma 50 (which is when we'll probably find more bots / techies start taking interest)

Personally anticipating 23p in anticipation of the diamond sales mid-May, and then 25.5p before end of the month...more out of fundamentals than anything else.

Another one of those 2.8mill buys like yesterday would help put us there

Re: dtrade, yes, trading platforms are live so long as the relevant stock exchange is live. e.g. I'm overseas in a country with a public holiday today and still trading.

Re: EMC2, GS don't want this to drop atm, they've just bought back in. Assume that they won't want to pull out until they can get 102 or more (i.e 5%+ per trade).
Personally, I'm hoping that they have just one more bash this/next week and then let this rise in anticipation of the trading update

Re: TR61... Love the idea of all the PI's ganging up!!

If each mine adds 200-300 mill and we bring them on in timely fashion...that'd make a few quid!

However, determination to bring them all on simultaneously risks us flatlining. Draining profit into new project development is a sure way to minimise return to shareholders.

So personally, I'd like faster share price growth (like a couple of pence minimum!) rather than drag this out for another 5 years before we get any return...each to their own though

You n me both were quick to pick up on the "silent achiever" comment during MM's interview a while back... Was quite a promising remark back then. Sounds like it was an appropriate term though. Any achievements have certainly been "silent" lol

If we can average one mine coming on per 5 years over the next 20, I'll be more than impressed. No need for them all at once

1) Jig completed in April (already completed! anticipate new RNS imminently upon successful commissioning)
2) Moving into next stage drilling at São Martinho... strong inference that this is where the the milton and warrant money is being sunk into
3) Regua mineworks pending resource upgrade. Infers to me that (also given the LP delay) Regua will struggle to make it into production in Q4 19
4) "La Parrilla is fully funded and under full project development"... I don't like the wording of this at all. Should say that WRES is fully funded! Should we fear the worst?
5) MMs Consultancy Fees increased by almost 150%...hm!
6) They say that exchange rates aren't considered a major risk...despite us already losing near 5% on exchange rates in a year. Given Brexit uncertainty, would of thought better to be prudent
7) States that 3x raisings were all at a premium. I remember them all being at a discount!!
8) 196k revenues... can anyone remember how much we'd shipped? Was it 3 loads of 20? Should be able to work out our sales price from this relative to APT price at the time of shipments

Overall... not bad, but also several sections in there which don't particularly like.

Only way I see this gold development adding near term value is if forecasts for global recession next year actually happens, and we release a stunning new jorc of 1m+ just as gold prices surge back to $1900... that'd be nice. Otherwise, can foresee ongoing dilutions / draining of LP profits

I'm looking to offload a few million, so you can pick mine up GIT

(PS: not really...but SP always drops on a stock when I think of selling, so that should work. lol)

Oil drops a tad and PMO plunges... Now oils up about .5% on the day, and PMO is still down.

Put into perspective of the past few weeks. Oil is up around 5%, and PMO is down around 5%

Yep, the shorting principle seems to apply best to PMO. Would of thought we'd need to rise first to get to a place where shorting makes sense...but not with PMO. Hell, we could be 50% discount to NAV, and it'd still be profitable to short PMO.

Trying to wait patiently...certainly difficult.