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The way things are going I wouldn't be surprised if President Johnny nationalises all Tanz mines!
Looks like we can say goodbye to our $14m VAT rebate, then. Makes you wonder if it was a wise decision to commit ourselves to further involvement in Tanz by acquiring Helio (subject to shareholder approval) with such an anti-mining government in power.
Surely they should now be cheap enough for you to top up, Daisan !
Yes, thanks for that Baht. Very interesting news on Paladin. They are no small fry. According to the World Nuclear Association, Paladin's Namibia mine is 11th of their top 15 U308 producers (BKY is provisionally 9th). If they really are in danger of going under that's one less competitor for our man to worry about.
+0.24p according to hl always ahead of LSE
Just had a look at the BKY website and cannot understand their list of top shareholders. The top 10 given in March this year bears no resemblance to the top 20 listed on 15 May this month. Of the directors listed above, Robert Behets is the only one named in the current list in eighth position, although Ian Middlemas, our non-ex chairman's holding of 9.3m, tallies with the number of shares held by Arredo Pty Ltd, which is fifth on the list representing 3.65% of the total holding. Can anyone please explain the apparent anomalies?
Swap Futures U3O8 price down to $20/lb yesterday. It is always a good guide to the so-called 'spot price', so BKY is holding up well.
Thanks Daisan, as informative as ever. Looks like we could be in for an interesting summer.
I've been reading that VanEck Junior Gold Miners ETF have startied to sell off a lot of their holdings and although SHG is not on their list (HOC and HGM are their only LSE holdings) the knowing ones say it will affect the whole sector over the next few months dragging prices down before a new Junior Goldie ETF moves in to pick up the pieces. Thoughts anyone, i.e. Daisan?
Able to top up @ 7.55 - saves a trip to Tanz
Once again, good work Daisan, and well done the PR man for clarifying the situation so promptly. Just have to sweat out the downward spiral, I suppose. Pity, I fancied a trip to sunny Africa !
Thanks zx, very interesting. My tummy's rumbling, how do I apply for Tanzanian citizenship? :o)
Many thanks Visitor. Grim reading especially for Acacia holders (myself included), they seem to be getting hit every which way. Politicians doing what they do best, I suppose; making an absolute horlicks of everything they touch. How on earth can they induce the locals to buy 30% of the stock in any company on whatever exchange?!!
His tips are usually the kiss of death for any company and judging by today's continued sp fall he is running true to form - the local antis will be absolutely delighted ! On a more serious note, did anyone see The Nuclear Option programme on PBS America last night? Fascinating viewing.
Where has this 30% local ownership issue come from? I've looked though all the recent RNSs and can't find any mention of it. Maybe I'm going blind in my old age ;o(
Another Aussie mining company that doesn't give a toss for its PPIs (PommyPIs)
Can't understand the sellers, 'buy' & 'hold' yes, but there again take MARL which has issued another set of "eye-catching" drill results and they are down 5.7%. OK they are not digging the stuff out of the ground yet, but...! All in all not a good day for gold, but we know the tide will turn and that day may not be far away given the way the $ is going. Patience is a virtue / Virtue is a grace / Grace is a little girl / Who wouldn't wash her face :o)
A typical Colin Bird stock, a carbon copy of XTR with all the ramping taken to extremes CB on 9/1/17 "Results from the initial test drilling programme have shown that the gold mineralisation along the Silverton Fault continues at depth over a wide interval…” 14/12/16 "The ambitious final 2016 step-out drilling programme at Mutsk produced excellent results by significantly extending the gold deposit footprint … Overall, work during the current year has substantially enhanced our prospects for the Mutsk gold project." 29/11 Mutsk drilling this season has demonstrated that it is a deposit of size and remains open ended to the north, south and east. We are extremely encouraged by our results and we will develop and refine our model during the seasonally closed period…” 8/11 "This drill result is very satisfying and has vindicated our belief that the deposit is open to the south…” 18/10 “…the Company is strong in its mission to identify a portfolio of significant near-surface gold deposits in different global regions to spread risk and enhance shareholder value." 6/9 "This is a very pleasing result for the Company… " 31/8 “…the Mutsk property has significant potential to grow in strike length (N/S) and to the east." And so on ad infinitum
I think it just goes to show, yet again, that if market sentiment is against gold as it has been for the last few days what with rising interest rates, etc. the sp will go down no matter how positive the news is. Look at Sula, the long anticipated drilling started today and yet they are down 5% Some so-called 'experts' have described this year's rally as a "fake head", implying that the pog could revert to the December lows of $1129 or even lower, before the next leg up. The broker RBC Capital has just downgraded Randgold Res to 5,900 and RRS (sub 7000 today) are usually a good indication of the way things are going.
Thanks AL, a very plausible explanation.