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I don't know what this refers to but shouldn't you should be dividing by 100 to get from p to £ @fromage

For gold these results look quite nice. They have some strongly mineralised zones that can lead to a mine plan with potentially exceptionally high average grade. Will take a while to come online but the resources increase the expected value of the stock right now.

Agreed. It really sounds like "trust me bro" even though we do ultimately have most of the relevant info. How much the upgrades are projected to cost, what their costs currently are, other factors that provide a complete picture and don't leave these glaring gaps. It shouldn't be this difficult to clarify everything that is happening at both sites, and every ambiguity leaves room for some nasty surprise down the road in investor's eyes.

I don't think that the share is suffering from poor fundamentals at all - Myles and BBN have done some great work putting together the value case from all the disparate references, so they are there - but if you look at sites like SWS or stockopedia, the ratings are terrible because there is barely any validated data widely available. The company needs to put more effort into generating investor confidence to differentiate themselves, as at the moment they look like every other "20 blokes with a hole in the ground" operation out there to the uninitiated.

I think a lot of people have been burned by overpromise and underdeliver strategy from AW. They made some great progress and the metcoal price was $450 / mt and it was all looking incredible, but then both of those things came crashing down this year. There needs to be an effort by the company to improve investor confidence since that is the main thing holding back the share.

imo this will recover if they keep up production, it feeds into the numbers, and they then report them properly. Might take a few months to demonstrate that though.

I think buybacks are the bottom of the list of good moves, yes they can be considered but especially for a small and high growth company like Shanta it will almost never make sense. They have a few promising growth opportunities they want to accelerate by using excess funds, and growing dividends to a respectable percentage will attract further investment. They should only buy back when the SP is unjustifiably low, and in a low mcap and low volume stock this will significantly raise the price and make the buying of stock a less attractive use of capital for the company. Dividends at least don't toy with the market by including themselves as a significant player in their own stock, which is something companies that typically do buybacks don't have to worry about as much.

I haven't been able to understand how Shanta has stayed stagnant (between 8.5 and 12.5p) since early 2022 when they have so significantly increased production and should now be quite profitable. I must be missing something because i was expecting 15 - 20p after Singida was confirmed producing with no issues. Even at the previous production levels I was thinking it was undervalued for the resources it has.

I have sold out significantly over the past year and only have a small holding to keep myself mentally invested in the company. I believe in the assets and used to believe in management, when BBG was running things. Of course my sells were at significant losses, so it gave me no joy to derisk. I will need to see a completely different tone and engagement from TW to recommit here.

There have been several concerning movements, little communication and no confidence or detail in the plans. I remain hopeful which is why I am still watching, but I don't think the past 12 months have been kind.

Ultimately it doesn't affect the business at all and so represents a buying opportunity if you are an LTH. Shanta will be shedding loads of profit at this gold price and into the future. I only expect the gold price to increase as the dollar weakens and recession kicks in. There is also West Kenya developing for future growth, so the company can clearly use their generated cash efficiently. In illiquid small caps the mood can swing the other way very quickly too, I expect this to be over 15p by year end personally.

I think my buy-in price was still a steal, based on what I know. Would be an unpleasant surprise if this is 1) a delay 2) because of unforeseen issues. But I don't really think either of those things are likely. This is a continued drop from 800 based on profit taking and fear, is what I expect.

Any reason for this? No trading update?

No reason this should be sub-£10 on what Yu have accomplished recently. The energy crisis wiped out most of the small and midcap competition and they are nowhere near market saturation. Still plenty of growth left in the tank and aren't valued fairly on existing numbers anyway. I think the drop from 800 has been bad debt jitters but Yu have been remarkably prudent in that regard similar to their gas price hedging. I've been buying on the dips and in again today.

Bit of a debacle if you ask me

This is also my biggest loss which I've been in since starting investing properly 3 years ago. Now average 0.91p. Looking at the volume trend there has usually been a slow trickle dropping the price. Most of the shares are held tight. This share could recover very quickly.

Previous poster numbers are more conservative so I took them, but very broadly £375M revenue, 18% gross profit, 5% bad debt, £18M opex, tax at 19%, so (375*(1-(0.18-0.05))-18)*0.81 = £24.9M / 16.6 M shares = £1.50 EPS. My numbers are based on economies of scale improving gross profit and aggressive cutting of bad debt that was taken on through SOLR, which they said took time because they weren't given good data on new customers. As a result I think this is a blip and the bad debt will come back down. If bad debt were to increase to say 9% but they grew the same amount, EPS would still be 77p at those margins and they would still be undervalued. If I have numbers wrong let me know.

I have broadly the same expectations. However, EPS of 100p with an SP of 500p, gives a PE of 5, for a growing company, when the utility sector 3Y average PE is 25. I think the SP is tanking on missed (sky-high) expectations, and I think that BK shouldn't have thrown around £500M so much (even though it was clear that Yu weren't making it this year).

Yu Smart was never attempting to compete with SMS as a stand-alone offering afaik, it is part of the fully "1 subscription" model that Yu has been pioneering, going digital by default while providing all utilities. It should help to reduce overheads further while providing additional profit margin on existing accounts.

Yu has managed to control bad debt accounts exceptionally well, but the conservative provision is prudent. I didn't expect it to tank to 500 (or I would have bought here ...) so don't trust me on this, but I would be expecting it to stabilise at 450 - 500 and then recover slowly. For my fair valuation of Yu this is a speeding ticket. But as always DYOR.

I have been looking through the RNS to try to find anything that would justify the drop but can't find anything. The bad debt realised has increased to just over double last year while revenues have close to doubled, while they have taken on order books from SOLR and are now stripping out the bad debt customers. Already have almost £250M booked for this year. Think it must just be traders banking profits and moving them to some wobbly bank stocks or derisking generally, but can't see anything that justifies this move from a fundamental view.

Myles has been pretty clear that he has a short term and long term portfolio which he operates independently. His long term portfolio is holding in size in AVCT, and I believe his friends and family are in AVCT too. He has a much smaller short term trading portfolio that he has traded AVCT with in the past, where there have been short-term pricing discrepancies. I don't think Myles will have been able to, or wants to, trade a substantial portion of his LT PF as he will be ultimately shooting himself (and family) in the foot when he tries to buy back that quantity later.

OK, thanks for the thoughts. Just had a look at last year's results which said that SHG will be a +100k oz producer by early 2023, and to make that true Singida has to be operating at around 35k pa from the beginning (if not 33% higher if SHG want to hit 100k in calendar year 23). Still seems a compelling buy as this is a big value inflection point and the SP hasn't reacted at all to gold price or the increased production that is very close now.

65koz from NGLM, so you think Singida isn't going to get to 35koz in the full year even with stockpile?

It's been a long time coming for EH and while the results are great by comparison to other silver miners I am a bit disappointed in the UFO context. Only 1 drill successfully hitting ore is a bit odd, I wonder if they went too far out. Really need to see the drills on the 3D model that has been shown in other presentations before and after. Still, it helps to confirm that it wasn't just one great set of drills and we have more untapped scope. Further pointing to an extensive ore body is great. Hanc*ck seems to be chugging along too, just going through the gears right now. All good.