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The extra $200/oz we should be getting in Q3 (and beyond?) will obviously be a big help, but the legacy issues are still weighing heavily on the company. The AISC is way too high & the grade is nothing to write home about. It's going to be a long old haul, but we are getting there s-l-o-w-l-y.
Another day, another deal, another drop in sp. No wonder Stocko p have this down as a 'Sucker Stock' with it's lowest ever ranking of just 3 (out of 100)
Interesting to see that the COS on the 4 other companies that quote them are comparable or even more (as in the case of Independent O&G's 65%) than ECO's 44%. Are CPRs estimates just as wildly optimistic as broker's (i.e. Andrew Monk's) forecasts?
Does the SP article constitute market abuse?
that MMs will drop the sp by 10% pre-market opening in an attempt to induce panic selling?
Talks have collapsed - banks run out of patience - suspension beckons.
Nice of Mr Blackstone to tell us after 2 minutes after the markets have closed and he has presumably unloaded.
Update: https://twitter.com/tsizzle84/status/1141383596026081281
Thanks jupiternmars, Eric couldn't be more upbeat - exciting times, what a pity we aren't in Azerbaijan ;o)
Many thanks Phoebus - strewth, there are enough of them. Let's hope we don't encounter too many of 'em.
'scuse ignorance , but can someone please explain what 'seal' & 'trap' is as related to risk factors - I assume seal is something to do with the drilling rig (to prevent a blow out?), but what is 'a trap'? Thanks in advance.
in 3 1/2 years. The sp is exactly where it was in November 2015 despite innumerable deals and TW forecasts of over 100 by Christmas/Easter/ very soon/etc, etc. There's surely a better investment elsewhere!
Surprised no one has queried the effects of yesterday's earthquakes on Luzon, hopefully the mine is far enough north to have been unaffected.
Oh, joy unbounded. A huge hat-tip and congratulations to Lee, Adamk & other perma bulls who had faith in their beliefs and gave hope to this wavering old cynic.
Meanwhile it looks as if we are in for another intraday 20% fall. What I don't understand, if the appointment of a new nomad is such a given, shoe-in, formality, etc., why has one not been announced by now. As we all know there are plenty of AIM brokers out there who will quite happily take on any company without the pretence of doing any due diligence and our current brokers must have given MTL notice of their nomad's intention to quit well before it was officially announced, otherwise MTL would not have been able to state it was in 'advanced' negotiations with a replacement, just a day later.
If the appointment of a new nomad is "a given" as regular posters on this board seem to believe, why has it not been announced yet? We have only 3 trading days to go before suspension and little over a month before wipe out. Meanwhile the sp will, understandably, continue to tumble.
Hawaiifive0: Didn't the Candy brothers try to take MTL private in 2009, until they were blocked by Graham Edwards?
Why shouldn't they try again? PS I am not deramping or being alarmist, I have a 5mln holding here.
The assumed announcement of 20koz Au production in 3 weeks time will be no use to us if we don't have a nomad in place in 12 days time
Thanks adamk, I was just wondering if the learned Pharmajohn was keeping his 5k in reserve for that sort of target - 0.45-0.6 would do me nicely ;o)
Make that 0.35 - wishful thinking got the better of me !
as Blackrock dumped their 68mn holding at c.0.2p, isn't it reasonable to assume that by the time Ruffer have finished unloading their 101m shares the sp will continue to retrace to somewhere near the all-time low of 3.3p? As I say, I'm just asking.