Member Info for RichTheNewbie

This is what gets on my wick with Shanta as, whilst I'd previously praised Zurrin's presentations, they're increasingly burying the bad news, like this tucked away in yesterday's RNS:
"Gold produced for the period was 12% less than budgeted mainly attributable to poor grinding efficiency that affected gold recovery. The decrease in grinding efficiency in Q3 is partly attributable to poor cyclone classification due to unavailability of the cyclone spares, ore hardness and increased milling throughput. DRA-South Africa is conducting a study with recommendations in Q4 on the way forward to be implemented".

Now they've just tweeted (not RNS'ed) a transcript of the call with analysts which contains various bits I'm sure people would have wanted to know:
"In the second half of September, we encountered ground instability at Bauhinia Creek 850 level of the crown pillar and this resulted in about 11,000 tonnes, grading 4.29 grams per tonne for about 1,600 ounces, being indefinitely unavailable for mining due to safety and operational reasons. So this was in fact the hanging wall, which became unsafe to continue mining. Around November 10th we will expect to start removing a further 13,500 tonnes, grading 9.7 grams per tonne containing 4,200 ounces, so we'll expect to remove that from the 900 level at the B.C. crown pillar, this is about 50 metres above the 850 level. We've now accessed this area and we've had to develop 80 metres to get into here and so we've now accessed it, and we're preparing it for blasting."
and a bit more general:
"we managed our equipment carefully amidst ongoing pressure from unreliable supply chains and cost inflation. These pressures cannot be underestimated and taken for granted"
and
"The overall grade of 3.18 grams per tonne in the plant is a function of the blending that we did from open pits underground and run of mine stockpile sources. Gold produced for the period was impacted by poor grinding efficiency within the mills that affected gold recovery. Particularly, as we fed high grade ore from the crown pillar we saw the efficiency reduce. So, the decrease in grinding efficiency in Q3 is partly attributable to the poor cyclone classification. And this really goes back to the unavailability of cyclone spares in the supply chain, or hardness changed temporarily, and higher grades impacted some of that recovery."

Now none of these are the end of the world as such but it irritates me that we don't get the full story.
Also the analyst call says "Work is underway now, as we speak, to update the M&I resources at Isulu and Bushiangala, which we expect should be ready around mid-December" yet in the public RNS it says "Updated Mineral Resource Estimate, targeting conversion from Inferred to Indicated resource category at both Isulu/Bushiangala and Ramula, expected in Q1 2023".

It would be nice if they could just tell everyone, straight up, in an RNS, at the same time...

OK thanks will have a look a bit later on.

To save me the time looking - can anyone remember if any of the past RNSs/presentations have a breakdown/estimate of expected cash flow that singida will generate per quarter (net profit or FCF)?
I remain wary of the production levels at NGLM once the crown pillar is done (so would like to see more info on that too) so am curious how much singida is expected to be putting in the coffers each quarter once up and running.

Bed&ISAing to avoid tax if things end up going well?

Answers on a postcard as to what’s going on with all these sale and purchases for similar amounts…

Touché Mr Bond.

The closest thing in that article to being of any relevance to here is it has dong in the name…

Call me a cynic but I don’t exactly think you’re likely to get an email back saying “sorry suckers, obviously our mates and relatives know we’re not about to be taken over, so they’re cashing in on the pump” ;)

Yeah. Mentioned that on here a few days ago. Pretty odd. Perhaps the best way to read into it is the company is being touted around (but yet to have any bids). Who knows ;)

Island girl - no that’s not true. Read the RNSs. All it says was that IF Yintai or Shandong made an offer, that based on their discussions, it would be in cash.

That is a very big IF which is the point.

MickR - there never were any bids. The RNS said this. Only approaches (discussions). It’s an important distinction.

Doubt it’s Xmas related.
It’ll more likely be the fact this was 9p before the takeover stuff.
If it looks like that’s just hot air that’s why it’s dropping back in that direction and nothing more than that.

Thing=think

Maybe Tony…but thing you’re being pretty generous… as, after all that time, would you not find it a bit odd if he was selling down days/weeks before a takeover ;) I would.
Imo this is behaving more like a pump based on approaches, that have probably been happening off/on for years, rather than anything that’s actually gone meaningfully further recently.

wakeyinvestor - I think you could argue it's business as usual until any deal is done (which means this call as usual). In some ways I'd like an investor call, however putting myself in their shoes, I also think that'd result in a lot of questions they can't legitimately answer in the current circumstance, so not at all surprised they didn't do that during this offer period, and everyone will just have to be patient.

You get the results as normal. The call is just promotion to analysts.

It's not a public call so no you can't - it's for analysts.
If it was a public one they typically do it via investormeetcompany these days (and there isn't one of these scheduled).

It’s hardly going to be a “sell” at the highs of the day/week is it :p
Besides, every trade is both a buy and a sell, it’s just a question of who it’s between.
There’s clearly decent size money going through near the highs whoever it’s between.
Suggest it’s best to stop speculating and trying to read into every little thing and just wait for things to play out now.

Gruyère: think of it this way…could Charaat have even contemplated any takeover of Shanta on their own? Clearly not. They’re not big enough / don’t have enough money. For them to be in meaningful conversations about doing so means the money is coming from somewhere else (the Chinese one would assume but who knows if it’s one big group playing nice or more than one party involved).

Yes I’d already read that publican/crudetrader. Doesn’t mean anything.
This just means step one is unfolding.
They’ve not told you step 2 or 3.