Chris Heminway, Exec-Chair at Time To ACT, explains why now is the right time for the Group to IPO. Watch the video here.
I am not expecting any slow ramp up like you describe Tornadotony. Listening to the recent presentation/q&a they have already been ramping up mining over the last year and have 15,000oz+ stockpiled ready to be refined. Later on he says they are estimating c.2koz gold production in March alone.
Also no need to discount your already conservative valuation by another 50% for 'imperfect information on the deposit' - the mine plan is based on proven reserves so is as perfect as it's possible to get. Certainly it should be no more imperfect than at any other mine such as NGLM.
I suspect a significant part of the market is convinced that Shanta will mess it up this year and Singida will be delayed or there'll be some serious issues, despite repeated statements that everything is on track. They have SHG on some kind of mental '**** list'. Eric referred to 'proving the doubters wrong' by successfully reached first gold pour in March and I expect this will be a major catalyst.
6 weeks to go.
Shorters are no different that buyers really. Shorters sell then later buy, buyers buy then later sell. What matters is the balance between buyers and sellers. So to me it's a shortage of buying interest that's the main 'issue' if there is one.
The other thing to bear in mind is on TSX the 'current price' is actually the price of the last trade, whether buy or sell, and not the mid-price, and the spread is wide. Which is why one day it's 'down 25% and the next 'up 25%'.
https://money.tmx.com/en/quote/BHLI
Yesterday's volume was a massive 16k shares
All these posters talking about the TSX listing as though it's the lead market might want to check the volume on our listing there. Most days there is at most £1k or so traded and today is no exception - currently there are 2 trades totalling 15k shares, about £1k if that. The OTC listing is similarly inconsequential.
The LSE listing is currently the only one that matters.