Member Info for MikG

Can't mark this down quick enough. About time the MMs, NOMAD etc just git this over with and whatever info that has gone for approval (along with a little slippage), get it released to us all..

That FRES has now picked today to offer some correlation to the price of silver.. not sure where it has been during silvers parabolic run of late? Dropping hard and fast.. clearly a few intent on bringing this down, and having too much of their own way. Serving up an utter bargain as expect the next update from the company to factor in the revised silver prices, to be an utter monster..

I like your optimism. It's refreshing.

My only concern is its brand damaging and a little loss of credibility for an industry trying to gain some traction. I cannot believe its not yet been resolved. Can actually connect anymore?

On the glass half full side, it will certainly be revenue enhancing as people will probably now need to go and buy the event. And we will likely get a bomb of an RNS along the lines of "unprecedented demand, servers not prepared etc" that could give a big giveaway of the ultimate potential if they get it right.

Absolutely BA.

I reckon John Gore might be behind it, flooding the servers, to get some cheaper stock :) All jokes aside, people's appetite will be built up even more than retrospective show orders could fly out the door.

Yeah, it was seamless for the first 5/10 mins and then got disconnected, and not been able to get back online since.

Anyone more techy than me have any ideas if there are maximums to what the servers can take? Dread to think how many people have tried getting on this..

Everything crossed that whatever the issue is is sorted in time for the concerts. Come on team MVR!!!

Anyone else getting that with "We're struggling to connect to our server, so please try again soon".

Hope they rectify this quickly as its been about 8 minutes so far, and this is a big scale to mess up on.

Completely agree with the sentiment here. This is an out and out setup job for us regular PIs, just as always seems to happen on AIM.

There has been a slight delay in getting ore out of the ground this year, which having now negotiated a nice drop in costs, can be extracted once in private hands at a far, far higher price of gold, lower cost, and superior margin per oz. We've all been completely shafted at £1, which makes it all the more incredulous when I see people bailing at the early 80s or even 79p!

Wondering the same myself... especially as it seems to have a permanent big buyer taking blocks in here in the form of big MJ and to a lesser extent the likes of Andrew Neal, who has also been vocal on the prospects here. In spite of that, and no obvious distresed seller (or notification of, at least), this drift again down to all time lows makes zero sense to me. Now down on the share price pre the MOD sale news, which seems really odd..

Re the posters who’ve said buying in the low 80s for the £1 offer is too much risk.. what are the risks exactly?

- As far as I can see, people seem to think Mr MNG might pull out and leave it on the “verge of bankruptcy”. If he does pull out and this goes bellies up, what do you think happens to the (hundreds) of millions he has piled into this share via acquisition cost and personal guarantees with the secured creditors? It all goes down the swanny, the entire investment is lost. He is personal guarantor for all loans and borrowings that are not RPTs- therefore any firesale receipts from sale of assets would go towards payments of those first, leaving Mr MNG on the hook for any excesses through his personal guarantor status. Why write off his investment so soon after initiating all the cost cutting processes and signing new contracts this year.

- Lower bid. The bid cannot be revised lower - you think the 13% investor base that have (presumably reluctantly) agreed to take £1 would accept somehow even less, with the POG soaring and £1 representing such a discount to NAV. Also, what about all the new contracting agreements just signed - again, another sign that the family owning 70% are not prepared to let their vast investment go down the swanny.

- Raising the funds - should not be difficult for a billionaire.

I can sympathise with the case of not buying, even though I think it’s nigh on as low risk as you’ll find at this end of the market. But selling at 20% discount to the takeover price .. pure insanity IMO.

If the person who has just sold at 79 is reading this BB, could you please, please just let me know your thought process and what you are thinking? Just beyond curious as to what people's thought processes are.

A £1 offer is on the table, Gold is up $30oz on the day and at 6 year highs, while this share is barely scraped above all time lows and is currently in line to be sold at a level half that of when the Youga mine was acquired.

More mammoth buying (3.11pm), another £870k gobbled up. So nearly 3% of the company changing hands today - share price unbudged, and little wonder these are being eaten up as the company is STILL 20% below the £1 offer price. Only on AIM.

Does anyone understand why this is trading at a 20% discount to the INITIAL takeover price?

The price won't get any lower than £1 and could easily be pushed higher.. what are people who are selling in the low 80s / not buying for the easy 20% upside at a minimum thinking? Genuinely curious.

Do they not think the billionaire owner will be able to to pull together the funds?
Do they not think the family that has run this down from £2, £3 a share to buy out the lot at £1, won't snap shareholders hands off at that price?

Legitimately baffled at the size of this discount.

What an outcome.

Not sure what is worse - the token £1 having clearly been manipulated into making this look like its a good deal for shareholders (it isn't). Or the fact, that in spite of the £1 offer, I can't even ditch my position and move on above 80p! So I can't even get the actual value its going to go for. You couldn't make it up.

Not that anyone needs reminding as Mr MNG has not pulled the wool over any PIs eyes judging by the (deserved) response on this board, but this was trading way above £2 before the Youga mine was even acquired. And rest assured, once this goes out of private investors hands for a complete song, all the issues will be magically resolved and they will be mining all this ore at a far, far higher $/oz of gold. What's more - there is completely nothing we can do about it. AIM again at its utter worst. And even where directors have vast skin in the game (the holy grail on AIM), PIs still manage to get shafted. This leaves a really bitter taste.

info@bacanoralithium.com

Is this what everyone has used? We are now down again, and that makes one (ONE) up day in the last 14 sessions! Just not good enough, and some clarity needed.

They do. Present value should the value of future flows, but of course this is AIM, the ultimate hot bed of price inefficiency. The shrewd will be buying now, not far off all time lows and await the Company to formally confirm what the markets are telling us, to realise value. There will be others, who won't buy because of their "concerns". Those concerns are:

- Funding shortfall. The shortfall had been reduced to the size of the MNG loan at $1,400 gold. We are now $1,500+ and MNG will not distress his own company (that he holds 70% of - unheard of "skin in the game" by AIM standards), so the loan would surely be extended.
- Production reduced due to disruptions. Again, lower guidance communicated already and the SP has been battered for that. 52 week highs around £3, versus 70p to buy this afternoon. Any production shortfalls should be offset by the cost cutting measures employed during H1, and the increased revenue per oz arising from the rampant price of gold. (20% up in the last 2.5 months!)

Biggest bargain on AIM in my view. And I await the rerate safe in the knowledge the owners hold over 70% and took their holdings on at 3x today's prices.

You have to imagine operations will recommence soon. Given lives are at stake, I'm sure they won't rush, but hopefully its not a long process.

We should (for a change) begin to enter a period of positive news flow - with news of the mines reopening following their unfortunate closures, followed by an acknowledgement of the impact of the continuing increase in the price of gold on the remainder of the shortfall (though I believe the MAPA loan will be extended by ASO's billionaire owner to wipe out any shortfall). Any impact of the closures on guidance might be buried within those, though hopefully it should just take output to the lower side of the revised guidance of 180-200k.

Gold up another $16/oz today - 99.9% of miners are soaring. Value gaps will be a temporary inefficiency - and it seems that only once the market has its hand held and the impact of gold being about $250/oz more now than it was a couple months ago, will it hit home. GL to all investors - even more luck to anyone daring to short this minuscule free float.

Of course - everyone keep buying to help Islandgirl sell? Oh wait no, you were buying on Friday? mmm. Hard to keep up with these constant ramps and perfectly timed movements in and out.

Closing out on the lows of the day it seems.

The funny thing is - the current market cap is far less than what the Youga mine alone was acquired for! Since then additional reserves have been proven up. And Mr MNG took that consideration mostly in the form of ASO shares, at £2 each! Anyone who thinks he is going to dilute the company at a 75% haircut to where he saw value little over a year ago, just to cover a couple million shortfall (which I think will be disappeared by now given the continued movement in the Gold price), is crazy.

The free float here is tiny. That has been a double edged sword as there is literally so little stock around, a few buys/sells in either direction can lead to an exacerbated move. Given the nature of much of the newsflow YTD, these have been mostly sells and have been pronounced in hammering the share down from the £2.40 it was a year ago today.

ASO charted against gold shows an exceptionally wide divergence. That gap will narrow, and with gold forecast to continue to go from strength to strength, I think that sees ASO go on a tear.

George, this has been a tremendously unlucky share and seems about all that could go wrong, has gone wrong. However, people are failing to appreciate that all these interruptions have occurred against a backdrop of aggressive cost cutting, increased reserves across both sites, and crucially, a MAJOR breakout in the price of gold!

It's primarily fallen due to the company announcing a funding shortfall. At $1,400 gold we were told that the funding shortfall would be equivalent to approximately the size of the related party loan due to be paid back in 2019. People are not seeing that this loan is from MAPA, a company owned by the billionaire owner (shares now given to son) of ASO! He has a 70% holding here, and is a billionaire. He will not ruin his own company demanding repayment!

I do not know, how people do not see that. The company has also had no issues in obtaining loans from the family before, and any excess shortfall caused by ongoing production disappointments, will also likely be bankrolled. What are they going to do - place or give away their vast holding at all time lows? Not a chance. The ore is in the ground, and the fact is any delay at the moment is being more than compensated by gold going up and up, so when it comes out of the ground in the end it will be at a far superior margin!

Serious opportunity here for those able to command some basic research, and buy the dips IMO.

I agree with the sentiments of itsagame. Not sure a compensation package would be the right message, as it could also encourage future lone ranger incidents to potentially secure money for their families. Unfortunately, the situation in BF is pretty dire and according to the WFP - the country is dealing with an unfolding humanitarian crisis resulting from a sharp increase in armed violence. The violence has been forcing people to flee, and the WFP are there trying to find solutions over the coming days.

For ASO, the contractor switch has probably saved them to ensure operations return to normal once security is no longer compromised. Staff will be eager to return to work as without work, they are not getting paid. I expect this to be a minimal shutdown, purely enough time to enable the company to adequately secure the site as any further incidents (which may cause harm to staff) could create a raft of legal cases for neglect / failure to secure the safety of workers etc.