Member Info for RichTheNewbie

The question always comes back to money imo. I don't think this strategic review process makes any sense at all if they can just dial up PG10 and print money or if they could get debt. When companies announce these sort of things ("strategic reviews") they're almost always in a pickle (because their existing/original strategy/plan hasn't worked - hence the review - and usually this boils down to needing more money to go forward or service debt in a lot of cases but not in this one). Therefore the only way I can see it making sense, is if they are stuck treading water (at best), and need more money to develop (whether that's via dilution, a JV, or a sale of the asset/company).

I used to think along those lines and give Colin the benefit of the doubt. The debacle over PG11-a has changed my mind. It makes it hard to judge the real state of play when you have less confidence in being given the full/real picture in RNSs.

Just ignore him. One bad SHAG* and he's been put off for life..... (*share holder action group)

Good to see you still around mike29. If my memory serves me correctly, during the more "tetchy" times, I seem to remember you were always one of the polite ones. Even if my opinions weren't palatable to many. Hopefully this will do a phoenix from the ashes for you even if I don't decide to have another dabble at some point.

About the same as what I was guessing from my, admittedly cursory, glance Snooty. It's hard to have any confidence in this (based on the past) but it's looking at an interesting level risking a punt, even for those of us who are once burnt twice shy. If it was as much as �1.3m that would give a lot more breathing room for a punt (as getting near �500k is pretty close to the wire in my book). Not got a great deal free to play with but always keeping eyes open for options. Thanks both.

I'm being lazy, but what would people estimate the current cash position to be, out of curiosity? There don't seem to be a lot of figures to go on (can see the last �1.7m placing, paying off debt with it, and then loans to Moz). Trying to work out how much is left in the kitty after any operational and company costs. I see CE/Bob are still around - did you discuss this when you recently spoke with CB? Able to answer this?

Whilst the spat was going on here gold rebounded a little and is up over $1165 :)

dunno why it's starring that out the starred bit is "beaufort securities dot com" (with no spaces and a .)

https://www.**********************/shp/research.php?vid=349

It's all really a statement of the obvious generally speaking. With the gold price drop and Ethiopia SoE it was likely that they'd both be in no rush to finalise the financing right now and try to find the very best deal as it's not the perfect time to conclude really. Nothing really new or unexpected. Same old waiting game. Not really too fussed. At least they have formal confirmation the refund is now due. Bit of extra cash won't hurt right now.

It's amazing how many of these randoms turn up out of the blue with a negative post of no real value and then scarper. Strangely a lot of them using the term "Mr Hairy" like a certain bitter Twitter user....don't think its a coincidence ;) Same old, everyone knows the risks, and everyone knows the value.

Looks like someone was clearly waiting for their moment and took a fair old bundle. Quite the excessive drop on hardly huge volume.

Spread is .027 on the bid due to a few recent sells but yeah gold is looking positive. Holding above $1175 should take it out of the month-long downward trend channel.

Oh well, if so, he didn't do particularly well, as the price is up a little today :p

Got to be honest it's getting tempting to go long on gold now instead of the short. With the macro-stuff generally seeming pretty positive (in that the world is heading down the pan and Italy being the latest in the club to vote for a giant mess) I can't help thinking that this combined with most of the speculators having now exited, as described in that article, there'll be a bounce before too long. It's just hard picking the exact bottom. I'd probably have thought it was further away previously but the rate it's dropped in the past months it might now be sooner than I might have thought.

Generic gold article but I think it's fairly balanced/decent comment: http://news.sharpspixley.com/article/ross-norman-golds-2016-rally-was-built-on-sand/260000/

One would assume, that if they did a presentation, it'd be much the same as the last published presentation (otherwise they'd probably have uploaded it). Really we all know the score....it's just waiting for financing being confirmed and then drawn down on. At the current price I think there'll be an almighty scramble to get in if it is confirmed on half decent terms. I've hedged my bets a little though with a bit of a short on gold and keeping my long position here.

Did you go?

Well it can't hurt ;) I'm still slightly towards the view that there'll be a bit of this post-trump post-truth counter-intuitive rally then reality will set in next year and gold will move back higher again.

Doesn't look like it to me. On these low volumes a few million from a small PI is enough to move it!