Member Info for Romeike

Remember gold SP slid quite sharply recently and with non farm payrolls supporting increase in rates in Dec ( I doubt this will actually happen) in the very near term this is "bad" for gold generally. Fear not you'll get your bounce. Over the med+ term most expect gold price to go up not down.

Not normal as in share prices going down on good news and barely reacting to bad news, been like that a while now across various sectors and market caps. Commodities all over the place. Gold price all over the place. I'm sure many are making (and losing) a lot of cash trading all this movement. Worth adding that operating cost expectations in the $600 range based on higher oil prices so would not be surprised to see better than expected margins for the first 6 -12 months of production.

I was expecting the rerate would come from a handful of investments by institutions/funds. I'm not sure gold miners get the free, positive exposure to attract a lot of small pi's in the same way that consumer tech does. Possibly no one noticed but SP was up over 15% pre market so someone added. A couple of decent trades will see it back over 2p.

Since when has the market reacted in a normal way recently for any size company? It been nothing but BS for months now. Facts are Stratex has no debt and is now a production partner, profits tbc. Rerate inevitable, in absence of any fk ups - lot of short term holders rolling off this morning, small value sells, good opportunity to add.

Watch for spike in gold price when fed admits it won't really be raising rates after all

A healthy near term sp would be 3 to 4p but who knows in this market.

You beat me to it. :D

It may be as simple as that the court itself has asked the company to hold off until these matters are rested. Unfortunately the only sure thing is that when we ever do find out we will be the last to know by a long shot :D

No, it is not a barrier to production - the EIA was approved a long while back and therefore there is no reason to hold back and we are told that leaching is already happening in any event - the remainder of the extract process is completely benign as far as environmental impact goes. As against the many millions of dollars already invested thus far by Bahar the costs involved in going into full production are tiny. Unless there is something to it none of us know about there ought to be no good reason not to announce first gold pour prior to end next week, which includes giving them a little leeway to get over the hangovers from the "first gold pour" directors' **** up.

Well, after total construction delays of over a year now I imagine most pi's are already resigned to further delays, despite assurances in recent interviews that there is "nothing else left to block first pour". Given we understand the first 30K ton ore heap is on the pad being sprayed with solution you'd hope that Bahar would have recovered and analyzed plenty of material in the pregnant pond by now. Can't help feeling the court case outcome has more weight than indicated and the delays are actually linked to that. If that is true then we would expect an RNS shortly giving some waffle that essentially announces a further delay of about two weeks which would coincide (coincidentally) with the EIA annulment case decision. Of course the more optimistic alternative is the announcement of first gold pour over the next few days and hopefully some information about buyers that have no doubt already been lined up ready to take delivery - some one has thought about actually selling the stuff right?! Please tell me no one forgot we still need to sell all this stuff?! ;p

I haven't actually found much about local complaints. The protests mostly seem orchestrated by a handful of hard left environmentalists from the cities bussing poor and tired-looking pensioners all over the place to protest any kind of economic development outside the main cities. Perhaps of more concern was the petition by "The Chamber of Engineers", which rather than being an academic body as I first thought actually seems to be a trade union, so I suspect their underlying issues may relate to more traditional union concerns as otherwise you might expect them to support such development in that it creates jobs for their members.

It could be that the mine becomes subject to extra environmental monitoring in its first year, however I cannot see Bahar/Stratex having to pick up the bill for this. One thing the companies could do better is explain publicly what steps they are taking to try and minimize access to the solution ponds from birds and in addition minimize the exposure of birds and bees to gases over the leaching area. Nature often suffers from man's activities but it isn't as if we close all the railways and motorways due to the much more massive (and largely hidden) impact that has on birds and other wildlife. I am sure most of us agree that if money needs to be spent taking reasonable steps to reduce potential environmental impacts this makes good business sense in the longer term. The mine will do better with the support of the local community. Unfortunately there will always be the die-hards that will protest for the sake of protesting, mainly because this is their route into politics.

I guess by admin costs we are talking mainly about directors remuneration. The executive wage bill does seem on the high side, it depends on what value you place on their input as against, for example, hiring external experts. I think that there wouldn't be much room in the near term to increase directors pay from the current level despite the forthcoming transformation of the company as this factor seems largely "priced in" to current arrangements. The overall size of this bill would certainly be something I would look at in the next annual report as against performance.

Using figures from the interviews and presentations, you could reasonably expect that, once Altintepe is (finally!) operational, and assuming relatively consistent operating costs, gold price and ignoring USD -> GBP FX, the firm will go from having zero revenue to generating approx £3.5 million/year, until such time as Bahar covers it's construction costs, at which point revenue increases to up to about £8.5 million. This is certainly very promising and going from nothing to about £2m pa after costs transforms the company. Of course controlling costs and deploying the free cash flow effectively will be the key factor in determining if Bob's £50m cap is realized. I am sure most of us will be watching very carefully for evidence as to how that new revenue is being utilized.

https:-----//twitter.com/fatsaunyedoga

The protesters tweeted as follows: https://twitter.com/fatsaunyedoga - the tweet says "Court over. The decision will be announced after 15 days. Our lawyer advises." It would be highly irregular for this to go against Bahar given that the mining methods being employed here are known to be safe based on over 120 years of experience across a wide range of industries. But since when have facts and evidence ever been good enough for a greenie?

I am not sure what you are trying to add to the discussion really? Everyone has their own risk profile and capital available and are investing in the hopes of one day using that investment, should it pay off, for something important in their lives. Does it really matter if it is £500 or £50,000, they are equally invested in their own way. Perhaps you should consider that the "really small trades" may be someone building a long term position and not prejudice your opinion based on comments from a single impatient investor below as I am sure you have done.