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Can someone comment, am I correct that PANR is able to self-fund it’s development of the production wells from existing resources and revenues obtained from the sale of crude oil commencing from Oct 2022? Unfortunately, I was not able to listen to the entire presentation so not sure if it was discussed e.g. in the Q & A. I don’t think Justin Hondris mentioned this in his part of the presentation.
Thank you
RD2u
Dear Joe
Thank you for your warm wishes of my welcome return. As you know I have been keen to learn of your new whereabouts, as I was a resident of the Free State also known as the line state, briefly seconded to the Garden State, commuting to the big apple nearly killed me. So which state are you cooling down in now? It looks like you timed it well given the record temperatures in the Pacific North West!
On your question of economics and exchange rates I am more a student of Paul Samuelson rather than J. Maynard Keynes or Milton Friedman.
I am watching with great interest; excuse the pun, the so called “divergence of the central banks” as they endeavour to take the next baby steps towards countering the effect of inflation etc.? As the various central banks offer their guidance of raising interest rates and taking their foot off the accelerator as they reduce the easy money been pumped into their economies. At least talking about it and they will have to walk the talk at some stage, have a look at New Zealand base rate change. I am betting on 2 interest rate adjustments for the U.K. in 2022. Over on the other side of the pond by you, I’m envisaging 2 interest rate adjustments in 2023. It will be interesting how the FX traders handle their carry trades given the interest rate advantage vs. exchange rates going in both directions. OIMO, DYOR
On a completely different matter, can someone update me and the board on the current thinking of Tavsan? The website refers to a scoping-level assessment in 2016. This is 6 years ago, given all the changes since e.g. gold price @$1,800 per oz. The fundamentals of this project must be really good given the previous NPV and IRR calculations; I would like to see the project moving forward with all haste. I am looking forward to the football tomorrow, Joe for your benefit soccer being the American pronunciation. Glad to see Au has poked its head above $1,800 to close for the week.
Best wishes
RD2U
For those of you who do not follow the SHG board, the article posted by Instant Expert today. “LAWRIE WILLIAMS Wrote yesterday”:
For some years now, specialist Vancouver Island-based economic consultancy, Murenbeeld & Co, which publishes its weekly Gold Monitor newsletter, has been pointing to a remarkably close relationship between movements in the gold price and in the inverse of the 10-year USA Treasury Inflation Protected Securities (TIPS) yield. For the past couple of weeks, coinciding with the latest, perhaps engineered, weakness in the gold price, following the latest FOMC meeting, and its perceived hawkish deliberations, this correlation has widened very significantly. This suggests either irrational gold price weakness, or an undue change in the TIPS yield. We strongly assume that the former is the most likely consequence and the gold price may catch up accordingly. Where gold goes the other precious metals, particularly silver, tend to follow.
In the event, the FOMC meeting, and its ensuing statements, suggested little change in the way the U.S. Federal Reserve was planning to react – it did not foresee any change in its ultra-low interest rate and bond buying programme until well into 2022, if then. Indeed some analysts feel the Fed may need to continue its low interest rate and easing programme until 2023, and perhaps beyond, to counter the economic challenges brought about by the COVID-19 pandemic and the recovery therefrom.
The above could well account for the apparently stronger gold price immediately ahead of the American Independence Day holiday. It still has a bit of a way to go before the apparent imbalance with the TIPS yield might be redressed. This, along with some other positive factors, could well suggest a gold undervaluation with the yellow metal due for further price recovery – in other words a strong buying signal leading into July and August – months that have sometimes seen huge precious metals price rises."
Good to see POG break above $1800.
https://www.sharpspixley.com/articles/lawrie-williams-gold-and-10-year-tips-inverse-diverge160;-buying-signal_8591.htm
Best wishes to all, RD2u, still hanging around!
I note that I have received a corporate action requiring that I cast my vote at the company's AGM and class meetings. However, I have been unable to locate the company's Annual Report and Financial Statements for 30 June 2020 - has anyone been able to view these, and if so could you provide me with the link?
Fyi, the AGM is scheduled to be held on the 31st December 2020, the ii website states voting must be completed by 23rd December 2020. Link below: https://kkvim.com/cms-data/depot/loandoc/Dec-2020-KKV-Secured-Loan-Fund-Limited-Notice-of-Class-Meetings-AGM.pdf
All best wishes, RD2U
Hi VV, A good call on your part, may I say once again!
Concerning the webinar attendance, we simply click on the accept button on the email invitation?
My best wishes to Ash on I presume his current state of retirement. What a well crafted post full of clear thought and understanding of the facts. Djoe, my suspicious absence was occassioned by 2 pit stops to the A&E due to on going medical conditions, as well as P1D last post to me describing me as a moron, was a step too far in terms of my heighten sensitivity, in any event it is the season to be merry and goodwill. Best wishes P1D.
It will soon be Christmas! My only question will be for the BOD to confirm that the balance sheet will be positive in terms of capital employed to enable a dividend of how much? Which would indeed be a suitable santa gift, hopefully to be confirmed on old year's night and the auditors will not have any objections given accounting standards. Looking forward to my vaccination and hopefully the demise of C19 and we can all move on.
Merry Christmas everyone and a Happy New Year
atb Rd2u
Hi Joe
On the iii platform, I have received notification to vote, deadline 24 August.
I enjoyed your link on Sonoma County, wines etc added to my knowledge. Ty
BTW in your posts am I correct in assuming that you have left the desert? Have you crossed the Mississippi yet and are you still south of the Mason-Dixon Line? My guess is you are in Tarheel country or possibly in the Peach State? Joe do not take the moniker Cotton-eye Joe, unless you are truly a moon shiner! Tennessee / Kentucky? I have sold half of my ssl. I am thinking of selling the remainder having missed the recent spike. Can anyone blame me with a p/e of 231.21, has it reached full value? I too am also interested in all things “cbd” and have eyes focused on acb.to, looking for a crackpot entry, excuse the pun! AAU is looking solid, I think it will crack the 6 level, as we approach the AGM and other news worthy events, I am hoping pm’s will have another run up….
Ash, I trust you are keeping the auditors at bay as you approach your final month of penance
Best wishes everyone and keep safe
Rd2U
Enjoying the sunshine…..
TGIF what’s the wine choice tonight; I fancy a little cabernet sauvignon!
Hi Ash and Joe and Lindasankoline!
Thank you for your various responses.
Ash, I am glad someone agrees with me that the price action today has been irregular and I agree with your thoughts re MM’s. “Limp” is an understatement given the latest gold finger plot which I can imagine reaching the $1,900 channel in double time i.e. before month end. Johnny English is on the trail!
DESERTJOE, thank you for teaching me how to spell properly in American. You and I must be feeling pretty swish – check the urban dictionary – given holdings in SSL and your Franco Nevada.
As LINDASANKOLINE has advised, I have a de-risked part of my position given the close connection to PMP’s and their rise today. I will be interested to hear from you when you decide to take profits. As LINDASANKOLINE stated AAU is not the only game in town!
Ash, I suppose we should be pleased that HUM has put on a moderate rise today.
Finally, looks like we are spoiled for choice. Remember, bulls and bears make money, pigs get slaughtered. A bird in the hand is worth 2 in the bush. My goodness, the Merlot is tasting particularly sweet tonight!
PAUL1DEANO, we mustn’t forget “Dr. Non” aka Michel Barnier as we prostrate ourselves to secure the mother of all trade deals with those Europhiles! The Chile Reds are tasting quite delightful. Come on BoJo and team, take no prisoners!
Patriotism is the virtue of the vicious.
People who enjoy waving flags don’t deserve to have one.
Nationalism is an infantile thing. It is the measles of mankind.
I want the cold war to end and the pandemic too!
Best wishes, keep safe
RD2U… even more amused….tomorrow will be exciting!
Hi LINDASANKOLINE
Thank you for your honest reply, I thoroughly agree with you, although I am noticing that on this web page, AAU is showing a drop of -2.30% with hardly any time to recover before markets close. The NEX exchange AAU.GB.PL is showing -4.40% on the day. Can you confirm that you are still buying and buying…..
Just want to confirm that this is not fake news and not another conspiracy. Have a look at CNR, someone on this board pooh- poohed Condor Gold up 12.05% in favour of AAU. Have a look at POG, their Rns today regarding Shareholder Requisition of a General Meeting appears to add further grist to the mill during these cold war games!
Given my holding in AAU I am still not amused, anyone else amused? Markets can stay irrational longer than you can stay solvent….. John Maynard Keynes.
Almost time for a cold one!!! Should I raise a glass to the rise of PM p’s rise today or would that be vindictive given the demise that Covid-19 has wrought on the world’s economies and its people.
Best wishes and keep safe
RD2U
Hi Shortarm, thank you for your advice, still thinking about it.
NEX exchange or AQS exchange........dude
To lie another day!
Best wishes
RD2U
Hi Y’all,
Interesting price action today following yesterday’s positive move in the SP. I am surprised at today’s price action, RSI gold at 78.64 and silver at 89.3, AAU SP down on the day so far. Ash, there must be some fundamentals that have put a lid on the price and got sellers scared. There are a lot of sells going through with hardly any buys. Perhaps the thread Nigel Somerville has put the kibosh on the upward move. I believe that this should only be temporary as I am looking at the 4.7 area where I seem to recall you mentioned it was break out territory. On behalf of Johnny English I am getting a bit frightened with all of these spy conspiracies as the USA tell the Chinese to shut their embassy in Houston. Sino/U.S relations - 5 on the Richter scale, Anglo/RUSSSO relations -4 and likely to fall further and similar reading for Anglo/Sino relations. Where is Johnny English when you need him? These fundamental indicator scores are purely in my opinion as I would not wish to be held responsible for a further decline in diplomatic relations between the super powers. I shall leave this for PAUL1DEANO as I am sure he would wish to capture the god emperor antics during this period of cold war history. You couldn’t make it up but I am sure someone will write a book about it and make some money, it’s a pity Ian Fleming is not alive today. He could write cyber ball or maybe up your gold finger the rise and rise forever more. Do I stay or do I go, this is the question of course. Can’t see what to do, I can’t wait for annuals and MOU up date. For £2.99 I prefer the gold chart etc. “Fear is the path to the dark side” yoda.
PAULDEANO I did not follow the connection between the title thread and your link to the you tube video. It’s about as bad as your Friday pm humour when you posted a black & decker advert, so if I may its pot calling kettle black. Hopefully you and I will not give a knee given the current zeitgeist concerning all things race equality? Hopefully our bodies will not be daubed in paint and thrown into the harbour.
Kind regards
Best wishes to all and keep safe.
We are not amused.
RD2U
Hi VV
Thank you for posting your notes regarding I/V with Kerim on Mine Prophets.
Kind regards
RD2U
Part 2
I am looking forward to the weekend. I would wish to have more interaction with you Ash on the various over laps that we have as I believe we could learn a lot from each other. Preferably in the real world, down at the pub over a couple of beers! Unfortunately we know that this can only be done remotely. I would be willing to share coordinates to enable these physical arrangements to happen. A whatsapp group/ zoom could be formed? Maybe we should also invite plasybryn aka VanVan who is as we know an avid supporter of this wonderful company which we hope will lead us to unimaginable riches or toys? If TW can put on such an event and charge his patrons £2.99, having previously charged me £9.99 for a similar event back in May 2020. I believe we can do this too at no cost. It is a pity that Yellow Jersey PR cannot arrange such an event. In other companies I have invested in these types of shareholder Q & A sessions prove to be extremely successful especially during this period of restricted movement and taking into account the impending vote on the JV agreement and AGM. I am certain during normal times several investor evenings would have been held to inform. Alas this is not to be. I shall be writing separately to the chairman as I feel that in terms of corporate governance it is unacceptable for us shareholders to be compelled to pay money to a third party so that shareholders are selectively informed by BOD members. Goodness knows what we are paying Yellow Jersey PR money for. Oh I forgot t-shirts maybe navy blue and other branded items? If I remember correctly it was Kerim who advised that he would follow up with his sources back” down under”. I personally would not wish my CEO to spend any time doing the work of the PR company as I would prefer he concentrated on the day job! I look forward to reading your replies.
As always ATB care for your loved ones, who knows we might all have the liquidity party in Perpignan if this ruddy virus would p.. off.
Best wishes
RD2U
I am posting my reply in 2 parts.
Part 1
Hi Ash,
Let me assure you and others on the BB I am not a technicals fanatic or extremist. You and I have learnt to respect the technical signals that we use. It is important that each investor in both the short term and long term should be comfortable with the technical indicators that provide them with the best results n’est-ce pas? I regularly look at the daily candle sticks and patterns! My charting skills have been severely diminished following my stroke, although with the few brain cells I have left, they assist me to determine if the chart pattern is what it is said to be C/O https://academy.investopedia.com. May I suggest Ash that you and the other BB members spend 10 mins as part of your research listening and watching https://www.youtube.com/watch?v=W3qxwSXJNMk. Ash you say that you have some respect for the dark arts in supporting your decision making with some scepticism, you prefer your judgement of the fundamentals possibly ignoring the market behaviour which is what technical analysis is all about. Your analogy of fluffy ones made me LOL as I sincerely hope that it also amuses PAUL1DEANO who posts “comments on here amuse me” which I am so glad! Ash google Bollinger Bands if you are hazy, measuring two standard deviations from the Simple moving average. Thereby determining oversold and overbought depending on preferences! I use both technicals & fundamentals in my decision making! Like a bat out of hell.
Cheers RD2U
Hi VV
Hopefully crossfire will not object to you copying across his post from ADVFN.
For others please research the chart pattern “ascending wedge pattern” as well as “pennant flag”. Always remember to do your own research! As we know this a chat forum to share knowledge so that we can all have enough for some toys or even better. Apologies to LTH’s if I am called out as an ayatollah. I am not even an imam, LOL. Is this some kind of positive recognition, I just wish we could get back to our usual chit chat which I have so enjoyed but we seem to have been turned upside down. Even Ash’s post to provide calm was met with hostility, so sad. I suppose this post further exacerbates the situation, hence my apology in advance. I shall be more mindful in future.
Thanks Ash you are right. There is no bible out there or even on AIM despite sipptrader’s comment to the contrary “how an emotive like me can be a fairly successful investor! Me too LOL!”.
Ash, I think that the continuation of the trend will be lower than this, I am looking at 4.278. However you may be right for the break out target point. Isn’t the dark side exciting? Watching gold –XAU closely at the US$ 1,804 – 1,810 corridor marginally down on the day. Let’s see what the US open has to offer, no major surprises on the macroeconomic fundamentals so far, looking safe as we go into the weekend. Hopefully POTUS will not disappoint. I will post separately regarding AAU’s inclusion in a pay per view, TW share cast with given timing awaiting MOU finalization and annuals. I can’t imagine any new information as clearly this would need to be announced to the whole market via RNS. Corporate governance extraordinaire.
As always ATB keep safe
Best wishes
RD2U
Dear all,
I have posted to simply break the monotony of the heading warm feeling or its derivatives.
Remember bulls and bears make money and pigs get slaughtered. Is it true that ostriches bury their heads?
I see that the ask has risen to 4.2/4.30 with trades back well above 4.0 a useful 5.19 % rise which I find very useful during this vacuous period of limited news. Time to check the technicals and see where the frothy levels are. Especially if gold fails to find traction above 1810. Anyone else concerned about a possible double top forming on gold. As it tries to counter strong resistance at this level reaching new 8 year highs! Oimio and dyor.
Ash I have found the barchart.com website to be very useful in providing me with additional technical data to supplement my own charting and technical analysis. Lindasankoline I believe you also refer to the charts, what are they telling you now, as you seem to have single handedly held up the SP, pushing it to new heights in the near term, assuming you are still buying and buying and buying.
Macro fundamentals still supporting gold with JPY , BOJ announcing continued negative interest rates-0.1%. German 10 year bond auction showing -0.46%/1.8. Canada BOC leaving its policy alone with QE and interest rate unchanged at 0.25%. Some very important economic indicators to be announced tomorrow: U.K. unemployment rate, euro refinancing rate, us unemployment claims, plus a slew of others. It could be a telling time I suspect, as I feel the chances of a V shaped recovery will be dealt a final blow. It will be interesting to catch up on Potus and the pronouncements on the ongoing U.S. /China ding dong as well as the collateral affected nations. One for all and all for one. Come on my little England, show us your teeth. Times are indeed looking tough, 5G, Scottish independence and EU divorce finalization/preparations.
Ash, are you keeping your Turkish spot and expanding into the south of France or consolidating in or around Perpignan? Sipptrader, your posts suggest that I should be fearful as others are greedy.
Best wishes and keep safe ATB
RD2U
Unfortunately some finger trouble!!! I am pasting below the final sentences of my earlier post on this subject. My apologies to the discerning.
have a great weekend and remember to toast your loved ones, especially during this awful pandemic time.
Price action, given the current SP I see us getting back over 4.0p soon soon especially as gold consolidates around the $US 1,810 handle.
Keep safe and best wishes
RD2U
Hello y'all,
There have been a number of admirable posts. My vote for the post of the week goes to D Joe Thursday 18.22 for his magnanimous words which I wish to echo and also add life is too short for silly spats. I have therefore not posted for some time in fear of certain posters taking pot shots/threatening abusive/disparaging remarks towards me. I too would welcome the opportunity to raise my glass to toast to each of your good health and to thank personally those posters who have contributed to my overall improved understanding and knowledge of my investment, Ash you are top of my list. Hopefully this can be undertaken at such an important event such as the AGM or at “the liquidity event” when our MC is north of £150 million and we have been completely bought out. I am certain that the bulls and stags among the BB will ridicule my target valuation at the final acquisition date? This date clearly must coincide with other such important dates e.g. retirement, in the case of Ash to put his deposit on his villa in the south of France. Can this be achieved within 5 years or 3 years even better?
Of course the serial winner in my mind would have to be Ash, not only for his knowledge sharing information which he presents in such a manner that there is no bias in his remarks leaving it to the reader to form their own opinion which is atypical of so many posters who congregate on these boards.
I am generally suspicious of posters who post with a single agenda to boost the SP to such an extent that there is disconnect between market value and sentiment. I do not wish to cause anyone offence as it often ends up in a debate about being an LTH or other. I am grateful to Market maker2015 who acknowledges his bias! I am also a fan of idioms (ducks lining up, perhaps?) see post of 20 June. VV I commend your sterling effort, 31 posts on AAU in the past 30 days, does not go unnoticed! I would not wish this share to be a” cat and dog” share for us unsuspecting PI’s.
I was quietly very amused when I saw that VV had come over to the dark side when he posted on the matter of a bullish hammer. As someone who looks at the” tea leaves”, I suggest VV should research the significance of the bullish hammer candlestick pattern during an uptrend in the SP which is what AAU has been trending in the past 6 months or so.
As a person who has survived both a heart attack and stroke I can assure each of you that the most important things in life are your loved ones, without which I would be a very poor man indeed.
I do not wish to raise the ire of PAUL1DEANO. I know that short cryptic comments are more highly valued so I have one final point. In addition to knowledge and understanding I also appreciate the humorous side of life with a couple beers. I note that a number of posters appear stating their undying love for AAU and then not to be seen again e.g. LINDASAKONLINE, Jettydog,zapsnap; maybe they post on ADVFN so everybody have a great weekend and remember
What wonderful news to receive on Tavsan this morning, de-risked and projected to commence production late 2021, with the caveat if these were “ordinary circumstances”. Interestingly KS proposes that all capital requirements for the development of Tavsan be funded from the Kiziltepe cashflow, before any spin on the mystery partner's value to the new JV. The obvious question therefore is why do we dilute our share of this asset down to 41.5% from 50%, as well as all the other assets particularly Salinbas, assuming my maths is right! After the RNS I feel far more comfortable with the prospect of going it alone, or at least re- negotiating an improved ownership percentage given where the price of gold is and potentially likely to be over the next 12- 18 months. Especially after the comments made by the Fed regarding monetary support being “lower for longer” as Jerome Powell forecasts recovery glimpses in to 2021 for the USA, with great uncertainty, e.g. a second wave of Covid- 19.
As a shareholder I do not believe that we have enough information to definitively make the right call. Perhaps I/ we should ask the board to provide us with the project values based on 1) with the mystery partner included and 2) without them. If we can raise the finance for Tavsan, why are we unable to raise the finance for Salinbas? Possibly this could be financed in stages? A) Ardala, B) Hizarliyayla etc. I believe we need to have suitable feasibility studies completed for 1) & 2) above to make informed judgements. We are not at this point as shareholders and instead are being asked to take a “leap of faith” based on what we have been given thus far. VV highlights how difficult it will be to judge how much value the DEAL will add. VV we agree on something so no argument there, I think.
I wish to draw the reader’s attention to Hummingbirds’s proposed acquisition of the Kouroussa Gold Project in Guinea which provides illustrative pre-tax project IRR, NPV and cumulative free cash at a range of gold prices, see this link:
https://www.lse.co.uk/rns/HUM/acquisition-of-the-kouroussa-gold-project-ux3piraf761e81v.html
This is what we need in order to make an informed decision.
Best wishes and keep safe
RD2U
Hi VV & M2015,
We know this asset is perhaps the single most crucial component of the MOU given its potential value. I expect the final JV Agreement to be crafted in such a way that we obtain full value for this potential asset which we own 100% in both the short term and long term. The Proposed “partner” still remains a mystery. Could their identity influence a shareholder’s decision, as to whether they wish to approve the transaction or not, due to ethical considerations?
The website refers to “with over 1Moz defined, exploration”. What does this phrase mean exactly?
I have been unable to find an RNS referring to JORC compliance, or is it simply a best estimate? I recall KS wished to undertake a drill campaign starting in Q2 2020,see RNS 15 October 2019, to prove up the asset, however given the current situation with mystery partner coming on the scene, per RNS of 25 November 2019 (just 41 days later). Has this drill campaign been abandoned for the moment? Importantly the mystery partner is undertaking their own due diligence comprising the services of drilling engineers to satisfy themselves of the grades and potential ore bodies. Given that the mystery partner is the majority holder, I presume it is they who will be calling the shots. Ideally the partners are working together seamlessly and are not duplicating or wasting efforts, given that it is the mystery partner‘s financial contribution being spent. Perhaps we will be surprised with an RNS announcing that drill tests have been conducted and we await assay results in due course. Remembering of course that the deal is not signed and delivered.
VV I have moved on” re change of auditor. Although may wish to come back concerning good corporate governance, as I am uncertain as to who are the independent directors on the board who are looking after us PI’s?
Best wishes to all
RD2U
Hi VV & D99
Thank your comments posted on this matter. FYI I emailed the company on 31 May (9 days ago). I have not received a reply to date. We await the receipt of the RNS advising shareholders that the 2019 final results are available hence the reason why I have not received a response as yet. As regards the change of auditor appointment brought about by cost considerations, it is in my experience customary to put the audit out to tender and select the most appropriate tender bid given the evaluation criteria e.g. cost, meeting time table requirements, which has been raised previously by Ash. I refer you to Rio Tinto in which a similar scenario arose, whereby subject to shareholder approval, KPMG was appointed from the financial year beginning 1 January 2020. PwC remained Rio Tinto's external auditor until that point and will undertake the audit for the 2019 financial year, subject to reappointment by shareholders at the 2019 annual general meeting. See the link below:
https://www.riotinto.com/en/news/releases/Appointment-of-KPMG-proposed-2020
VV, regarding the delays in the finalisation of Ariana Exploration & Development Limited’s accounts to which you refer, I have scoured the 2018 financial statements. Incidentally I notice that Hummingbird Resources PLC who use RSM UK Audit LLP have issued their audit opinion on the 2019 Financial Report on 24 May 2020 i.e. their accounts are finalised, yippee.
VV, I recommend you have a look at Page 13 of Ariana Exploration & Development Limited’s accounts for 2018 to obtain an appreciation of the scope and level of changes brought about which you refer to as “reformatted for some reason”. I presume you are able to access UK Companies House Registry and view the information I refer you to.
Best wishes
RD2U
Trying to be a champion of good corporate governance.