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Nero, Shg is an obvious case of reference along with c fs example and your own. So let’s get this straight, it is fine to veer on the over optimistic side but to be realistic is bad . and there is the nub of peoples averages I think.
Being my biggest holding doesn’t track? I am almost 40% up why does it not track? I have sold a few times over the years and re bought at half price. I refuse to put new money in, mainly because I don’t have much free cash and see other places as more rewarding for any free cash (yes crypto). That is my strategy that I have been open about and stuck with. I have though added some new cash recently because I could see a good rise coming which has happened. You asked me how many shares I hold and 30-40 k wasn’t specific enough for you. Well it’s over 40 k now , small compared to many here no doubt. You didn’t furnish your average ! My research tells me that there are some over optimistic hopes here. They are welcome to them just as I am to mine. Why so defensive ? I quantify my posts, have always been spot on with dilution forecasts, production predictions, sanctions etc, why should I not give an opinion. You along with the main chancellors on this bb have been constantly and spectacularly wrong over the last 5 years. Only weeks before the for sale sign you were predicting the mine build funding. You also predicted that the dividends would roll etc. you and your ilk have more to answer for than I do! When I posted a couple of years ago that I would be happy with 70 p you replied in your usual manner and said melon would never let it go that cheap . Well let’s see.
I genuinely hope everybody at least breaks even but if not maybe refer back to mr lions post.
Yes rob quite disappointing tbh. Just as production was ramping up to 100 k oz and close to 2m oz and rising v high grade exploration in seperate Kenya project. I swapped from here into Cnr who are up for sale also currently and Getting to the nitty gritty. I think there as here peeps get over excited about possible valuations. That Shg valuation, £140m gives some food for thought on some of the crazy expectation that were bandied about here for a very early stage project.
Buying here for a 100% and then think about de risk. It’s a punt because it is still far from clear how this progresses and gets funding but prepared for a modest risk here with results elsewhere going well. Cashing a bit of Shg out too.
Hope you are having some luck elsewhere.my Copper plays have done some good moves recently and v happy with uranium this year. However the absolute best has been Bitcoin miners.
Good luck and happy chrimbo.
Ccc. Mc could have drilled more instead of wasting £7 m on a mill. He did however state it wasn’t worth drilling because the market wasn’t rewarding oz. Mm. We are not miners yet melon states production. A lot of rather contradictory communications over time and peeps invest on the back of it.
Ccc. In neros example it was clear that there was further exploration potential. Shg on top of a 100 k oz production have an ever expanding resource that is not too far of Cnr although none pnp. still has much more potential at very high grades. They are under offer at £140m . C forever example has further exploration potential. B2 assets bought by calibre had further exploration potential , two mines and was $100 m . You can get a general idea of value from other projects .
We will have to vote on any deal which may be painful if peeps are hoping for unrealistic returns. I hope I am on the cautious side for sure but rather have a pleasant surprise than a sharp shock.
It is not unusual for a royalty to be retained of say 2/3 % on a sale which can be retained or sold on to a royalty company.
I am still surprised how much significance peeps give to what 🍉 says after saying that production would be 100k oz oa this year. Have you never heard a salesman’s pitch before. You have no idea of his figure for reasonable offer! Unless derisory I think he will take the best offer that transpires. I do not see how it can be much above £100 m from my comparisons but am happy to be proved wrong.
Frenchy, I think that scenario unlikely. For a start mc has stated that the aim is to wind up the company.
🤞 for some further advance. Gla
888. Yes I added at that point. It’s a disappointing deal with full production coming up and more west Kenya results to come. It makes me wonder how low the Chinese offers were? Just confirmed my thoughts on sale price here.
I think we may run out of legs by 30 p before a deal. Hopefully wrong.
I have let some Shg go today and switched into a few other horses. Plenty of action atm .
I am interested to know what the previous offers were if they were too low and this one is acceptable?
Break, same here. Maybe they will convert to more equity in Omi perhaps. Bit of a mystery. Wasn’t overly impressed with answers re funding . That’s the biggest concern for me. We may not have raised for 3 years but the do is about a fifth of what that raise was at. Have continued to add on a punt. Having good results elsewhere and Shg has run its course so taking some out.
Good luck all . Personally not looking to add at much over 4 p.
Joe, Shg is selling for £140 m fully diluted, with 100 k oz production and nearly 2 m oz and increasing high grade exploration project. Cnr needs $100 m on top and 2 years til commercial production. At current dilution levels and no expenses deducted , 60 p would make £120 m .
That would make Cnr nearly twice as expensive in real terms and a two year period of no return. I just cannot see it!
888, I think Shanta is a done deal tbh. You should know by now that analyst forecasts arnt worth the paper they are written on. You have put forward £1.50 etc in the past.
I bought into Shg just over 4 p and traded a few times so it’s not too shabby but would have hoped for more and selling a bit further down the road would have been better imv. Cnr was in the 40s at that point .
This deal should give a reality check to some of the more hopeful expectations.
Good to hear broom. I have gone from nearly 30% down to nearly 25% up in a couple of weeks so pretty happy. Glad I did my adding just before and just after 🍉 warrants conversion. Be nice to see 30 p heading our way .
Gla
Lol c f , along with all the other broker forecasts. I suspect there may be one or two paid pumpers here currently but that is fine with me, I just want an exit asap and if we get into 30s with no news want to de risk a chunk . Peeps obviously think this guy has much more cred tha billionaire master investor 🍉.
Jt , you didn’t check out clsk did you? Party time in crypto miners . The trend indeed is your friend. Don’t need some German wunder investor for that one.
Hope we see your 45 p that would be nice.
Good find c f . So,
2.15 m oz proven and probable . Cnr 600 k
£168 m and note deal includes all outstanding warrants and options that are in the money.
Look at the timescale!4 years! That is what has done for Cnr . Puts dreams of £1 p share in perspective with 200 m shares at present and will rise some yet. Obviously this isn’t an asset sale and a deal of similar structure is unlikely if it is Chinese that buy.
Another nice steady day. Would be nice to see it carry on to year end.
Justone, we are entitled to our various opinions, of course, but you said we have been informed that it is imminent and that is factually incorrect and misleading.
I am hopeful for a deal and mc gives optimism but to be balanced, after a whole year and 5 cash raises, he has to have something positive to give or the sp would probably have sunk further. I am positioned for a sale. Just think it’s best to take it as it comes. It may happen soon but he didn’t inform us it is imminent did he? He did however tell us he expected by summer and we had a spring spike to 45 p and ended up back at 15 p when peeps were calling that imminent. Imv we are further down the road and hope for something in q1. Of course it could be sooner hopefully but historically being too optimistic here has never been a good idea.
Good luck .
Justine, you said we have been told a decision is imminent. Now you give your interpretation of imminent. Not quite the same thing is it?
You say we are waiting for a bid from six. Yet in a year there have been 3 site visits.
Best to keep things factual , over egging what mc says is why many here have had over optimistic expectations for years.
Justine, I must have missed the bit where he said decision IS imminent. Perhaps you could link that?
Everyman and his dog knows that if a deal is truck a 60%_100% from 15 p lools. Bagging from over 20 p is a stretch imv but happy to be wrong on that.
Jt, when you bailed I thought about selling some. Purely to put more in clsk . Decided to wait for the raise and added some more to get average down . Absolutely don’t blame peeps that are heavy under water not wanting to stick more in. Hope you get your 45 p.
Worth remembering that the sp rose quite fast to 34 p last march and the deal was going to be done by summer so nothing is guaranteed. And we ended up back at 15 p and more dilution. There are now considerably more shares do last years 35 p is probably this years 30 p.
Personally I am hopeful that a deal is cooking but take nothing for granted and don’t think it imminent. If we should continue rising I will deffo want to take profit and not fussed about the end game.
Jt clsk up nearly 400% this year and the more Bitcoin goes up the more crypto miners rise. Of course there will be some big re traces too do good for trading. Stuff bonds. Good luck jt.
Lardy,Much more chance in crypto than these aim casino cons. Bull run started. Dyor of course 😜
Ddd, think we are on a similar page there. Yes still decent risk reward . Been buying sub 15 up to 17 p. Think I am done now. Could be that if you bought 15/1) p a decent profit could be made before news. Up 30% now from 15 p not bad in a week. There’s peeps been holding for 10 years would like 30%. Expect some selling in the mid 20 s .
Slowly, yes I think that is the case. Market knew there was a raise coming. Then there were two with a week suspended animation until the placing was completed. Was always going to move up after the raise. A bit of encouraging comments helping . A 100% er from 15 p is a good risk reward with negotiations ongoing . I added from sub 15 up to 17 p. Think I am done now and waiting now for an opportunity to de risk.
Good luck