Member Info for M20ASH

Buys at 32.4999 and sells at 32.50 again. All showing as buys on the trades this morning....
Cheers, Ash

There were lost of sells today. Most of the trades, both buys and sells, were above the mid-price and on a few occasions today you could buy at a lower price and sell at a slightly higher price - 2 different market makers overlapping on the bid and the ask. Probably doesn't happen very often. Question is why?
Cheers, Ash

Thought you must be joking, but same for me through HL. Weird!
Cheers, Ash

Anyone looking at the trades and seeing a sea of blue would be forgiven for wondering why the price is not rising, but there's a really tight spread with sells over the mid price at 32.425 and buys at 32.50. Not sure what to make of it tbh.
Cheers, Ash

Hi soutie, it would take someone with a stronger nerve than me to sell some tomorrow in the hope of picking them back up around 30p, but for anyone hovering over the buy button, it might make sense to wait and see if there's an opportunity to get in a bit lower. Going forwards the chart looks strong and the fundamentals give an exceptional value proposition.
Cheers, Ash

Maybe also worth looking at PXC, copper, gold, silver, zinc, lead & cobalt across a few prospects in Idaho - silver & gold seem to be the current focus for development and an interesting approach to reducing timescales and costs to bring into production.
Agree with VanVan on AAU as the silver credit makes a significant difference to the costs and the ratio of silver to gold oz from current production is about 13:1, which gives the best of both worlds.
Cheers, Ash

Hi daiadeath, a good summary, but the additional funds from Ozaltin and the provision of management services by Proccea for their earn-in will result in a transfer of shares with cash and services being injected into the new JV rather than any additional pay out to AAU, if my understanding is correct.
Cheers, Ash

Hi VanVan, I totally agree and if I was in a financial position where I could afford to simply sit tight and hold, I probably would. However, I’m not and I need to press on and try to make enough cash over the next year or so to buy that little place in the SW of France and still have enough to keep growing for our retirement.
It’s a gamble and not a recommendation by any means. Hopefully, Lady Luck will smile on me!
Cheers, Ash

A poster called jc2706 posted the following yesterday and I hope they don't mind me re-posting on here:
"I think that we all have to learn our own lessons the hard way. I am sure that we have all done all or most of the following: 1. Invested in a share that has tanked 2. Invested in a share that has tanked and not cut our losses before it tanks again! 3. Not invested in a share that has soared 4. Not invested in a share that soared even more after we didn't invest the first time around 5. Sold out congratulating ourselves on the 20% rise only to see it subsequently go up ten fold 6. Not sold out when a share topped only to see it collapse 7. (The most common of all). Invest a great deal of time and effort into researching a number of companies before deciding on the one with the best fundamentals. Invest and watch the money stagnate whilst all the others in the sector surge ahead. Scratch head in confusion before ultimately selling in frustration. Share price subsequently soars."
Wise words and I'm sure we can all identify with some or most of these. So many shares promise jam tomorrow that never arrives and we endure the ups and downs that go with that anticipation. What I didn't expect was to invest in a share where I am now being asked to sacrifice jam today for jam tomorrow and I guess I'm not the only one experiencing that dilemma.
All I can say is I have come to terms with this proposition, adjusted my portfolio to take advantage of opportunities elsewhere whilst maintaining a reasonable holding here with a hope of having the best of both worlds and adding again here in the future. Maybe it will work out the way I hope. Maybe it won't, but whatever you decide to do, I wish you the very best of luck.
4th of July tomorrow, POG at $1778, should have been $1776, but hey ho! Time for some fireworks!!
Cheers, Ash

Hi CK, very true. On the plus side, I watched the Proactive interview today and definitely heard KS say they are starting to think about expansion of the plant at Kiziltepe.
That’s very positive as it will allow higher grade ore to be trucked in on top of the ore currently being mined and processed and will be needed if they develop the underground mining potential.
May take a while as Turkish mining law requires a revised EIA to increase capacity and production, but will help fill the gap as share of profit decreases.
Cheers, Ash

4th July tomorrow. Would be nice if the fireworks started early. Even spookier, POG seems determined to settle around $1776...
Cheers, Ash

Trade payables are a balance sheet item. AISC is primarily a measure of P&L costs. The two should not be confused. The only impact on cash for the period regarding trade payables will be the movement i.e. whether it is higher or lower at the end of the period than it was at the start of the period.
Cheers, Ash

Just checked back. It has been an approved motion every year for at least the last 4 years. Not sure we can necessarily expect anything new as a result, but there's a first time for everything...
Cheers, Ash

Hi GA, as far as I can make out from the original MOU, Proccea will by providing management services, etc as part of the deal for them to own 23.5% of Salinbas so AAU will have the other 23.5%.
Cheers, Ash

A very astute assessment, if I may say so.
Cheers, Ash

Hi MAJW, definitely in place since the previous AGM. Not sure about the one before that.
I asked the same question about whether the company could be buying back. Drop in monkey who posts here said the rules dictate it would have to be announced in advance.
Cheers, Ash

I think we are only being marked as down because of the UT at 30p last night.

You're welcome Suno. Took me back a bit at first as I have enough problems remembering what I posted yesterday, yet alone last week. If you do a bit more digging into Cassidy, you'll see that back in 2014, they raised sufficient funds to start up with a gravity-only, alluvial operation, but with low recovery, which is why I think they then encountered problems and without sufficient funding to upgrade, the project went on care & maintenance. The latests HUM presentation refers to infrastructure with a replacement cost of $20m and the original capex may form part of this.
The funds were mainly sourced from an investor called Alchemist Inc, a subsidiary of an unknown existing shareholder. Cassidy is owned by a company called Guinea Gold Limited and the trail stops there. Haven't quite sussed out how AIMS and Halfmoon Bay got involved yet. There is an article on an African Mining news website referring to Cassidy bringing in some senior finance investors, but I haven't bothered paying to read it. Maybe AIMS and Halfmoon Bay are the investors they brought in - all connected in Malaysia. If so, they may have picked up a bargain and sold it on to HUM at nice fat profit! AIMS are not doing too badly out of the GRL deal either with 120m warrants exercisable at 3p, 14% interest on the outstanding loan and repayment in gold oz at $1,500 per oz or cash, should they choose, if the gold price goes lower. Not bad for a $3m loan facility. David Crichton-Watt is certainly a canny Scot.
Cheers, Ash

Only the ability to purchase shares. The capital reorganisation was a one-off that transferred the value of the share premium account to the profit and loss reserves, turning a negative value to a positive value, which then allows dividends to be paid - you cannot pay a dividend, if you do not have distributable reserves i.e. a negative profit & loss reserve.
Cheers, Ash

Yes, renewed until the next AGM - they had the capacity the previous year as well. They also reorganised the share premium account in 2018 to create sufficient distributable reserves to permit the payment of dividends. All the correct things, but nothing has then been done. Would also be nice to see a response to shareholders questions set out the same way as AAZ in their recent RNS, but I'm fairly sure Dan doesn't read anything on these boards. I think it is something to do with being slated all the time in the past! Good to see some more positive views these days.
Cheers, Ash