Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Think I'll empty some more spare change from the savings account to get some more since the base rate decreased last month. Should be more on the radar now after making no 2 on the risers list today.
Well that's me into a tidy paper profit - of all my portfolio this was the least likely to make much of a move in the short term.
Happy days all - I hope this gives all a little more confidence in what could be something rather large.
Whilst level 2 can be your friend, it can also be your enemy with a touch of the pro's manipulation.
We're in uncharted waters across the entire market at the moment. I've seen some incredible rises lately so anything seems possible in the current climate.
It's still dropping - further potential to get even more
@Bobby - reading it again it was clear ;-) CMCL wasn't on my radar - what a rise from mid March to now. Seems everything in my portfolio has recovered or increased since that March nose dive. In hindsight if I'd bought more of them at those lows bar a bank I wont name I'd have doubled the value of my entire portfolio.
@Bobby - Dividend?
@Simms - If your looking around at other gold companies you should research AAZ, good solid company which pulled itself out of a near bankruptcy, cleared all its debt and started to pay a dividend all within 4 years. I suspect those that bought in around 2016 and held have become very well off.
Both SRB and AAZ have good future prospects for the long term. As with most of these gold companies its just a waiting game until projects get kicked off and production starts. Take your time before buying in - many jump in on spikes off the back of an RNS proposing future prospects. These "prospects" don't often materialise for 2-6 years so just be patient and wait to get in during a low volume period.
Another company worth mentioning is OMI which is currently sitting on what could be a massive amount of gold in Anza but is being held back by the major player - Newmont. Now there seems to be a lot of speculation around this but the way I see it is a huge company like Newmont don't pay a few million for shares in a smaller company unless they think they are sitting on something pretty big. Newmont bought in around the 6p mark and today we're sitting at half that - I think its a good long term punt to throw some "small change" at.
Gained some short lived momentum just then off the back of that RNS I expect - a few £1.50 buys before tailing off with a bunch of sellers.
This is starting to look even better, especially if the current highs around 1760 USD can be maintained for a decent period of time. In fact with the way things are going globally it wouldn't surprise me if this punches beyond 1800.
And there we have it - punching higher @ 1760+
.........Group of 7 lads on mopeds turn up and start playing football and being generally loud until around 1am. They weren't brothers from the same house ;-)
Seems to be areas outside of London - Yorkshire and North East worst. Followed by North West and South West. Got a football field behind my house - can't be viewed from road as surrounded by houses.
Financial Highlights
Cash Cost for the quarter of US$996 per ounce.
All-In Sustaining Cost for the quarter of US$1,257 per ounce.
EBITDA for the first quarter of 2020 of US$3.20 million (Q1 2019: US$4.33 million).
Post tax profit of US$0.77 million reflecting lower level of gold sales realised during the period compared with 2019 offset by higher average gold prices in 2020.
Earnings per share of 1.31 cents.
Average gold price of US$1,549 received on gold sales in 2020
Lower revenue, quarter on quarter, reflects sales of gold inventory realised in Q1 2019 and lower production resulting from a mill stoppage in February 2020 (see news release 26 March 2020).
Agreement, concluded in April 2020, with Greenstone Resources II LP (“Greenstone”) to subscribe for US$12 million Convertible Loan Stock.
Agreement reached with Equinox Gold Corp. (“Equinox”) allowing the Company to pay, in monthly instalments, the remaining US$12 million consideration for purchase of Coringa, until travel restrictions caused by Coronavirus are lifted.
Operational Highlights
First quarter gold production of 9,020 ounces.
3,674 ounces of gold produced in March 2020, the highest monthly level since the operation opened.
Ore sorter in full scale operation in March following completion of commissioning during the quarter.
42,036 tonnes of ore mined during the quarter at 6.54 grams per tonne (“g/t”) of gold.
40,465 tonnes of run of mine (“ROM”) ore processed through the plant from the combined Palito and Sao Chico orebodies, with an average grade of 6.66 g/t of gold.
2,878 metres of horizontal development completed during the quarter.
Public hearing for the Coringa project held on 6 February 2020 with positive feedback. The Company is now awaiting submission of final recommendation to, and approval of, the State Environmental Council (“COEMA”) for the award of the Licencia Previa (the Preliminary License).
Key Objectives for 2020
Implement measures to minimise short term impacts of Coronavirus (“CV-19”) on current operations and provide a safe and responsible work environment for staff during the crisis.
Continue to make its best efforts to maintain production levels as close as guidance as is practical being mindful of providing proper rest schedules for those staff at the mine site
Complete the licencing process for Coringa and complete all desktop planning activity.
Secure financing package for the Coringa project to fund plant erection and other site developments.
Complete, as soon as practical, exploration programmes at Sao Chico to expand the resource with a view to producing a new resource estimation.
Complete exploration drilling programme over geophysical anomalies around Sao Chico.
Complete acquisition of Coringa gold project.
So the Chancellor says we are already in the midst of a recession with it to worsen significantly in the future. Gold price seems to be gaining momentum over the last 24 hrs and the word recession is being slam dunked throughout the news channels. I'm beginning to think that we could see it break through the 2011 peak and then some. It's about time we started to see this be reflected in the current price of AAZ.
So where do we think the bottom is on this? Seems to be going lower than 08/09 - all crystal balls welcome!
Nothing in that RNS is bad - gold production dropped a bit but the increase in gold price overcome that shortfall. It's one of the few solid mining companies out there. No debt, cash in the bank and a dividend increase - whats not to like on this one. Either people expected even better results or they are simply taking there money elsewhere. There has been a lot of money out there made off the back of covid-19 and I think people are trying to chase those short term large increases - although high risk.
Anyway, let them sell so I can hoover up some cheaper shares. I'd rather put my money in decent solid companies with smaller rises over time than play russian roulette with some one hit pharmas which seems to be what the herd are chasing atm.
Very informative video - although only had time to skim through it earlier. I have high hopes for this and have added to my holding every time it dips to a bargain.
I would imagine most of the recent sales are just people bored at home and rather than going for a run, like me would prefer to jump on a bike. Come September when the weather starts to deteriorate not many will want to bike to work - this is just a leisure thing. I suspect the 2nd hand market for bikes will become saturated come October :-) Luckily Halfords have sold a lot more than bikes though.
Also if everyone cycles to work in large numbers - where are all these bikes going to be locked up? I would imagine in the capital and other large cities the local councils will have to do something to accommodate this influx - driven through Oxford recently?
Still - previous figures look quite good and the upcoming income statement will provide a more solid view of which direction the price might go. At first glance this does look expensive right now.
You can't always measure a users experience by the number of posts they've made........................although those quoting daily predicted close and open prices are generally newbies with a copy of the naked trader in their hand!
This is a very strong business and has been year on year over the last decade. Always pursuing new profitable acquisitions and capitalising on them.
IMO this is a hidden gem and has been one of my favourites over the last 5 years, have done very well in the short term on most of the most profound dips. The recent drop due to covid-19 was way over the top given what the company does. Compared to most businesses Iomart is ideally placed to withstand the current lockdown by remote working and is also a supplier of those types of services which enable remote working and other associated infrastructure.
I had already took advantage of the recent slump - for a change quite near the bottom and have watched it rise again quite nicely. Yet the share price is still substantially lower than its peak during February and nobody seems to have taken into the equation the high probability that they have secured a lot of extra business due to the high numbers working from home.
This business has to be one of the few to have done well out of this covid-19 fiasco and I believe that will be strongly reflected in the next set of results. In fact, a lot of firms have probably realised that home working has many benefits in productivity and may well after all of this start allowing more employees to do a few days a week from home.