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When i said there is a seller, i'm talking 500k to 1mill shares. Maybe not that much but a large seller is offloading which is stalling the price. Could be completely wrong but if there is, once they are finished normal service will resume.
Price targets vary but i think you will conclude that the party time is coming in the next 6 months
http://www.vgmplc.com/downloads/the-gold-sector-august-2012-e-mail.pdf Page 90
http://www.vgmplc.com/downloads/VGM_Research_130312%20LOWRES.pdf
Vatukoula has had a difficult 12 months as grade at its eponymous operation has fallen due to development, which in turn has caused production to fall short of our expectations. However, mine development has continued over this time and Vatukoula is close to reaching a number of rich orebodies; this should see production increase towards the end of the year. Vatukoula’s namesake operation in Fiji has been operating for over 70 years, and based on its current resource and the potential for further discoveries it could well be producing for 70 more. Prior to its closure in 2006, Vatukoula consistently produced over 100,000oz pa Au. Management believes there is significant scope to bring the operation back to these levels over the next 12 months. Management has embarked on a large and essential underground development programme to provide for sustainable long-term production. Access to the Cayzer Prince (0.23Mt at 17.42 g/t), Prince William (1.22Mt at 7.82 g/t) and Matanagata East (0.207Mt at 9.32 g/t) orebodies is expected to be reached in 3–6 months. A feasibility study for the development of a biomass power plant is targeted for 2H12. Vatukoula remains committed to the development of this power project and believes it could be commissioned by the middle of 2014. Based on the initial financial forecasts, the power station could reduce Vatukoula‘s cash costs by US$140/oz. Catalysts for 2012 include:  4Q12 production results — September 2012  1Q13 production results — Mining commences on high-grade Cayzer Prince and Prince William deposits
Once people start consistently paying the full ask then we will make movements north again. Most of the buys are at discounts to the full ask which probably means MMs have shares to offload. Thats why i thought this morning that there may be a seller in the market.
Also, you know Tiger resource (TIR), ie. Bruce Rowan. They also have a holding here i believe. Or at least they did as at 30th June 2012.
My other line of thinking was that if the US, among others, implementing QE, gold price will rise with currencies weakening.
I bought here yesterday. Unfortunately a day early. Should have bought today. Book value is about 77/78p so if there is an offer for the company, surely it will be at least this amount. WH Ireland have a broker target of 122p i think. Check recent RNS, Xantai paid 51.65p in placing. Looks good value here but as always entry is crucial to maximise gains. As with alot of stocks i invest in, limited downside, alot of upside!
It seems more likely that there is a large seller in the market which is holding this back. MMs are sneaky and will move the price to make some sells look like buys. Once they have cleared would could get a nice rise. Only my opinion though.
I bought some today. Net Asset Value is around 78p and Tangible Net Asset Value is around 39p. Looks like a very good investment just now. Xintai obviously think so paying 60% premium to SP. Is there any news pending here?
TIMES NEWSPAPER "Tiddler to watch" "Tiger resource finance run by Bruce Rowan, an Australian with a big reputation for backing smaller companies, jumped 13.3% to 2.125p after making its first investment since revising its mandate in May to take in natural resource companies. Tiger took 29.9% of Xtract Energy, a third easier at 0.26p, for 330,000 pounds." Investment now worth 689,655,172 @ 0.23p = £1,586,206, circa 1.15p per share added to the value of the company.
With only about 138mill shares this only needs a little bit of buying volume and it moves fast. Should be easily over 3p on todays news. Massive uplift to their NAV.
Portfolio value at 30th June 2012 £2,726,463 Cash at 30th June 2012 £1,680,498 TOTAL £4,406,961 Say they invested £250,000 in XTR, now worth about £1,500,000 TOTAL VALUE almost £6,000,000 = 4.33p per share
They have already 6 bagged on the investment AND they are at a discount to NAV.
That pasted horribly. Basically the Lithium licence is to be bought by Manas. They have already said they want to sell it.
Manas Put Option On 4 August 2011 Alji, PAR and Manas entered into the Manas Put Option whereby PAR has an option to retain the Uzunbulak Project Licence which must be exercised prior to 31 December 2011. If PAR elects to retain the Uzunbulak Project Licence PAR must make an aggregate payment of US$700,000 (less $90,000 already paid) to the Alji Nominees (including Mr Chynarbek Tegizbekov) by 30 April 2012. The Agreement provides for PAR to make 9 monthly payments of US$10,000 each month between August 2011 and April 2012 to the Alji Nominees as part payment of the purchase price for the Uzunbulak Project Licence. If PAR elects to retain the Uzunbulak Project Licence it will be obliged to pay the balance of the purchase price (US$610,000) to the Alji Nominees on 30 April 2012. If PAR elects not to retain the Uzunbulak Project Licence then Manas is obliged to acquire the Uzunbulak project licence and to pay on 30 April 2012 US$610,000 to the Alji Nominees and US$90,000 to PAR as reimbursement for the monthly payments made. The Manas Put Option is governed by English law.
Indeed, however much it equates to it is realising cash value of an intangible asset. Should boost the SP.
I calculated 0.07p per share. 700,000 / US exchange rate = about say £450,000 / 612 mill = £0.000735 = 0.0735p