GreenRoc Accelerates their World Class Project to Production as Early as 2028. Watch the full video here.
...have you read the interim update?? Can't see too many positives in there to suggest a bounce back to 15p
Yeh the heady days of drilling for diamonds in Patagonia was it rather than panning for gold, didn't make any money then either!! I do remember a couple of exciting days when the sp went from 1.5p to 3.6p before the suspension and reverse t/o (follow that with big promises, missed targets, share consolidation, talk of a secondary listing, steady SP decline etc etc.) but that was about as exciting as its been since and that was probably 5 years ago!
I've had an affiliation to VGM for many years having been first invested back in the RVD days. I was in when the reverse takeover into VGM went through and held through the dizzy heights of £2 and some and back down to what then I considered to be sickening lows. I bought back in recently at high 20's but sold out at mid 30's having intended to stay in for longer after the initial announcement of Chinese interest but then getting nervous when that got delayed. Got to agree with GB now I see this as a takeover play, call me synical but the Chinese (through a 3rd party holding) could even be shor selling to achieve that end. If it does go to a takeover what then though - looking at a 6m average SP a bid around 25-30p? Not great upside from here but seems to be relatively risk free. There are of course risks, funding and dilution being the most obvious, that could see this being sold off for scrap and in AIM that's always a very real possibility. The risk/reward position though seems to be tilting more to the reward IMO but with the chart graphic showing an almost endless top left to bottom right profile it's not for the faint hearted - the falling knife analogy seems built around share declines such as this. If it gets to 15p I'll be sorely tempted mind you.
Can you summarise your workings in getting to 36.5p?? The convertible loan note and additional in issue shares seems to be, as stated, at 51.65p to me
A matched buy/sell, almost looks like a late reported uncrossing trade although stated as an ordinary. Definately no trading on the ASX or here and seemingly no news either
An announcement pre AUS open this morning but it never came. The rumour mill's running rife over there, apparently the latest is that there are now question marks over the financial standings of our Chinese investors, maybe it's a simple as we got duped by a fast talking Chinese contingent in tailored suits and they haven't got the yen to back-up their 10% investment?
If the buy/sell split is to be believed (and on the back of the RNS I'm a bit surprised at the suggestion we were 2:1 to the good) surprised this fell today. Suggests people are seeing something positive in today's update. My view remains it was a pretty neutral release which in the current market is actually not bad!!
2nd RNS quotes those words as just released. To me (looking at it positively) that sounds like the BoD discussing options with their financiers on the back of an approach. The doomsayers (not sure shirters will bother given we're suspended) will be saying the existing finance has been pulled/NGL has defaulted and the Company's now trying to renegotiate lifeline funding. That latter option to me seems less likely on the back of the recent Chinese investment, can't believe they would have signed up to a 9% stake if cashflow was that tight
Depends on the nature of the takeover and the process of settlement - could be an out and out purchase, NGL gone in a trading sense, sold for £x which on the basis of 1.1bn shares in issue = £x/1.1bn being £xp per share to existing shareholders. Your holding ceases to be and at some later date (this might take a while) you get the money in your share trading a/c. It could be share trade purchase (unlikely) whereby a Company buys NGL in exchange for x number of shares in the acquiring Company - if that happens your NGL shares disappear and you now own x number of shares (could be more or less obviously) in ABC Mining Inc. Could be a hybrid of the above - you get some cash and some new shares. First one of these is the most likely for NGL I would say given the current market cap and the fact that most miners are considerably larger than they are.
A lot of water under the bridge since last year's a/c's unfortunately, and NGLwrote off about $10m of goodwill in that last set of a/c's as I recall re mining development costs. I can't see this not being a takeover and I'm amazed at how little chat there is on the BB's which I think shows how few PI's might be left in. I think it just waits to be seen where the takeover's pitched, by who whom and on what terms. I agree with the sentiment though, it's a long-established producing mine, with a large measured/larger inferred resource at a time of near record gold prices. I still fear it won't be at a price that many PI's will be making a profit on (give the dramatic SP falls of the last 12m)
IMO, someone's been buying up on the cheap. I was suggesting this after the recent Tulla buy-in on iii. If it is a TO and less than 10p then we've been done
One of 2 scenarios in my mind, takeover approach or the unthinkable??
If you've followed VGM for any lenght of time you'll know that the cost per ounce is always the sticking point - the majority of costs are fixed not variable and as such driving it down to a profitable level is entirely production dependent hence the need to reach and surpass 60k p.a. At $1,725 on 11.5k per 1/4 assuming fully fixed costs (clearly there's a variable element but take this as best case) and increase to 15k per 1/4 and hence 60k p.a. would bring that down to $1,323. All of sudden the economics then look very attractive for VGM (at current POG prices let alone 2k per ounce)
Good or bad or largely as expected? I was hoping for the cash cost to be more like $1,650 than $1,725 and the production figure to be north of 13k - what this quarter impacted by the flooding (or was that all through the prior quarter)? The tonnage has increased quite significantly but the quarter on quarter production figure is largely unmoved. Be nice to have a sense of the cash in bank figure (post Chinese £10m placing) to put investirs at ease on that front - cash generation of £6m in year though so at least they're cash generative (albeit with a massive increase in A/P so they're holding out on suppliers). I guess my sense is a little disappointed but no alarm bells so maybe as the market expected? Still struggling to see where/when the 100k p.a. is coming from...
$30 to $1,724, maybe jitters ahead of the US data?
Couple of biggish buys there (and yet still down)
Please tell me I'm missing something from your post which states 'i see the avearge price we been at over the last month or so is around 40p ish ... so this ones a no brainier...' - I've seen some ill conceived investment strategies in my time but that one takes the prize; it was higher than this before so it must get back there again???
Read your post back in the cold light of day: - ...if they manage to quadruple production - ...if the price of gold doubles or trebles A couple of fairly large unknowns there, on a timeline unspecified on the assumption that the subscribers to the recent placing (and uplift there to) weren't in fact Tulla who are now majority shareholders and could push for total control. For the record I am invested here, was at 13p up to 65p and then back in at 35p with a far higher average than we now see so I'm all for a successful recpvery from here but agree with n476, the PI's been excreted on from a staggering height on this one and my take on the future is not nearly as bright as yours
Like the optomism, bit of rounding on your 0.4p buy I think and with penny shares it makes a difference, also it's NGL rather than NIGL (although they do have a few of the latter). Also you may have missed the fact that NGL has largely outsourced production so big as they might be (and they're not that big actually) that's largely irrelavent and the management have been disasterous hence recent events. Hopefully in 6m time though the price will be higher, July production numbers will be key IMO
Looks like a sell, SP's held up well on the back of it though