Member Info for mcadder

1,571.80 +56.10 +3.70%

Sorry make that 3.70% and counting lol

1,554.14 +38.44 +2.54%

Jumped up 2.5% tonight presumably on news of the Fed cutting interest rates.

Hopefully news here on the leaching/trenching operations on their gold prospects in next few weeks which imo should be under way now weather conditions should have improved.

Perhaps imminently an announcement on a further acquisition as per recent placing RNS?

Tullow in $1.7b loss, fears the worst
Saturday March 14 2020

"Although Tullow has avoided significant battering by the low prices due to its hedging policy, it fears for the worst in the future."

"The firm has hedged 60 per cent of its 2020 production at a price of $57 per barrel and 40 per cent at $52 per barrel for 2021, a cushion that saw it realise oil prices averaging $60 per barrel for January and February 2020."

"If oil prices remain at or below their current levels for an extended period of time, this would adversely impact our future financial results,” said Tullow.

If buys outweighed the sells it would not have dropped therefore the only conclusion to draw from that is that a higher number of trades showing as 'buys' were in actual fact 'sells' due to the mid price at the time of those trades.
Looking at charts does not tell you where this is going - the only thing that counts is sentiment and if oil prices stay at current levels or even fall and demand remains subdued then don't expect the SP to recover for some time.

If anyone thinks this is heading back to 20-30p anytime soon I'm afraid you are in for a bit of a shock. I was one of those recently who thought there was no way this could go to single figures - looks like I was wrong....

Global Oil Demand Heads for Record Annual Drop as Virus Spreads
Javier Blas Grant Smith
Mar 15 2020, 2:58 PM IST
Mar 15 2020, 9:41 PM IST

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(Bloomberg) -- Global oil consumption is in free-fall, heading for the biggest annual contraction in history, as more countries introduce uprecedented measures to fight the coronavirus outbreak.

Travel bans, work-from-home, canceled vacations and disrupted supply chains all mean reduced demand for fuel. As societies respond to the virus, oil demand -- already hammered by China’s decision to shut down swathes of the economy -- is falling further. Oil traders, executives, hedge fund managers and consultants are revising down their forecasts dramatically.

The growing fear among many traders is that oil demand, which averaged just over 100 million barrels a day in 2019, may contract by the most ever this year, easily outstripping the loss of almost 1 million barrels a day during the great recession in 2009 and even surpassing the 2.65 million barrels registered in 1980, when the world economy crashed after the second oil crisis.

“This global pandemic is something the world hasn’t witnessed since 1918,” said Pierre Andurand, who runs oil hedge fund Andurand Capital Management LLP. “I do not see how the the demand drop wouldn’t be multiples of the drop witnessed during the global financial crisis.”

Oil prices have fallen by almost 50% this year as the virus’s worsening impact on the global economy coincides with a massive supply shock: Saudi Arabia and Russia are in an all-out price war to pump more crude. On Monday, Brent crude plunged 20%, the largest one-day drop since the Gulf War in 1991. Privately, some traders believe oil prices could drop into the single digits for the first time since the 1997-99 oil price war between Saudi Arabia and Venezuela.

“We haven’t seen a demand event like this in history,” said Saad Rahim, chief economist at oil trading giant Trafigura Group. “Every day is going to be worse for demand for some time.”

Partridge you have absolutely no idea what asset/acquisition they are hoping to reverse into nuog or the potential terms of any such RTO to know what the SP will do and what people will do with their shares.
If the acquisition is good enough there may be few that are willing to sell up so you literally are p***ing in the wind with your vision of doom

Yes an extra 290M shares to raise £320k as previously announced on 20th Feb......

"The proceeds will be used to accelerate exploitation of gold prospects already sampled over the Mineral Jackpot group of mines, including bulk-sampling and heap leaching of numerous spoil heaps at Mineral Jackpot and in the Huntoon Valley for early recovery of gold and silver."

"The company will take the next steps to define a potential mine development at the Rock House prospect through a geophysical survey and drilling."

"The funding will also allow the company to pursue and complete an acquisition of an already-defined new gold opportunity elsewhere in Nevada subject to agreement."

All sounds extremely promising - at least it sounds as though there is huge potential that in the latest raise there is actually going to be something to show for the extra funds and no mention at all that it would be required for working capital as per previous placing.

We've done alright here today considering the bloodbath on the market. Loads of AIM and FTSE companies 30-50% down - the DOW currently over 8% down and FTSE 100 10% down....

We've done alright here today considering the bloodbath on the market. Loads of AIM and FTSE companies 30-50% down - the DOW currently over 8% down and FTSE 100 10% down....

Yawn....

No problem Dickbat however twice today I've noticed that my message with that reply on has been removed from this bb along with a bunch of other people's posts - wonder what the motivation could be for that lol

Up 7% yesterday and today up 6% on the same day TYM is down 6% lol.
Perhaps some money from there finding it's way over here. Out of the 2 this is the one to be in that has that potential wow factor.

I didn't receive it myself but it was someone from Twitter from a few days ago who had received that reply.

I must admit I'm absolutely staggered to see we are not only up but on the risers board on what must be one of the most difficult trading days on the stock market since I've been investing for the last few years.
Now imagine - just imagine where our SP could reach on a normal day with a fantastic update on the gold too. Coiled spring comes to mind...

I agree can see this closing blue

Shall I sell my 1M shares here bang on 0800 then just so you get sweet FA for your 300k shares hey lmfao!
Jog on Atif with yer 4 posts haha.

(Don't worry guys I'm not serious about selling)

The drop in oil is much worse than what I had feared tin hats at the ready for today

Maybe if your in an oil or gas stock - we'll have a good day here...

Wow Oil (Brent) just opened at $32.48 down more than 20%...

You obviously don't keep up to speed with the company - I suggest you do.

Everything can "seem years away" as you put it until there is a sudden breakthrough in the form of a JV by perhaps another mining company or even a straight buy out which would exponentially accelerate the exploration side.

The company are in the final stages of proving up the connectivity of the veins between the old gold mine workings and if they can prove up the area as one huge deposit of gold then that's when the fun starts. That's what the trenching is all about if your interested.
It's taken years to get to this stage but they are close. The best of the grades from a sample came in at 95.4 g/t so is probably a better prospect than TYM right now.

Any JV or buyout would mean many many multiples of the current price. Forget the copper for now it's all about the gold.

See you all at 1p+ ....