Blencowe Resources: Aspiring to become one of the largest graphite producers in the world. Watch the video here.
Have just seen latest news pop up on my screen where I did nor cancel out this company from my folio. You may like to see that going back to Thakadu open pit has its problems possibly in the rainy season.Sludge I would think and the possibility of jamming up the screens with it. That was the caused of massive down time and loss of production. I must admit this did get some sort of resolution . With only about 11 months of profit at current mine, prices need to rise to enable a reasonable cash reservoir. I am glad I am out but GLA
For anyone whoever comes back to this board. Have waited since feb 2006 for the promises that have never happened in at 90p plus before spade was even in the ground .as we got closer to dig price fell. Topped up and av ged down to minus1p .Sold majority around rally 13( wished I had sold all at the time but had mislaid my crystal ball ha ha ha !!) Have now got out with a small loss. good bye all
Just popped in here out of curiosity as was in this in 2000 til 2006. At that time expected great things as was at that time selling oil and also had a bottled gas enterprise at the time and i believe lubricants at the 2006 time and the price started to waver a lot. On a sudden spurt to 13p I sold out while it was on a high, as it never seemed to be getting off the ground. I made a healthy profit which i put into PCI at about 3.4 p at the time. I looked at FTO from time to time since and it is still wavering i n the low as far as I am concerned
Your post I agree Coue'(ism) translates in English"Every day in every way it gets better and better!"LOL
Your posts Mon tks guys already have acp/wet for some time now shouild be good in about 9months time. Will consider solg
Over the last 3 years I have noticed that every time a miner company does a consolidation on shares 1 for 10 ,1 for 25 etc within about 3 weeks the new price has dropped rapidly and never ever seems to get back to the initial consolidated price. news dries up and Sp bumps along the bottom, the B of D seem to loose their way. Like Mogo and Photo most of mine are also in the doldrums ACU,PCI,POL and long gone Angel mining and PPA. I am hoping that CGNR in the next couple of year and BMR will drag me back into profit GLA
2006 sp was running at 60.0-75.0p I bought in at 73.5p but price was down to 1.7p by 2009 . Constant disasters due to poor equipment and it would appear lack of know how, how to deal with rainy season which caused long down time of crushing equipment. It did eventually rise and I sold majority at 13p in profit before another heavy fall.. Looking at the latest report it appears they are still having equipment probs and until they are really on the ball can't see a viable rise. I am now after much averaging down I at 1.580p with a very small stake so will await with bated breath for a miracle lol
I despair each time I come on this board Oh how I yearn for the Feb 2006 price. I don't think we will ever see that again. Has taken me 3 years to avrge down to what I had money to afford.. The bid is still below slightly below my avge even now. Must admit I did sell out a lot when at 13 and made a decent amount to slide into PCI. Now they are sitting on top of a capped off giant gas field not planned to bring into production till 2017! I reckon all miners/ gas in general took a beating 2008 and 2010 dropping across the board about 1/3 or more.
Good reasoning! your last 2 posts. I always find there's a deal to think about on your posts. We don't know of any other possible players in the game( I think you can call it that to a degree, a game of who moves next and when) World wide financial manipulations now appear to be rife( they were always ever present but far more blatant these days). As you say the mini miners were always the ones at the sticky end. There was a sort of upsurge after the 2008 fiasco About 18 months after I think and then that died and the mining section appears to be still running along the bottom of the river.
Been in here 7. 1/2 years now. Watched it rocket to 100p and die on the vine when copper prices were going through the roof . Poor production equipment could not cope with rainy season , slurry gunging up the screens and continual break down in production. Originally bought at 89.5p and watched my investment sink like a stone after reaching 100p although never a spade of dirt turned during all this time!! Decided when new equipment forth coming to buy while prices were down in the dungeon 2.14p- then 1.8 p and finally at 1.29p then sold most of my shares when price had risen to 13p, which covered the loss on my original investment and gave me a profit ,which I then put into PCI . Since then I have wondered whether I should have sold the lot while well ahead. But decided at that time there would be a recovery worth while hanging on now production was moving in the right direction. However copper market is well down ( as all mining currently if one looks across the whole spectrum) IIMHO I don't see much in the way of a decent rise in SP until copper prices are far more buoyant. My current avge is now 1.580.. Will wait a while now and keep a close watch on this one.
This RNS alert is brought to you by Digital Look. African Eagle ("African Eagle" or the "Company") (AIM: AFE; AltX: AEA) advises that it has recently acquired missing documents with regard to the sale of certain of the Company's prior assets in Tanzania, Mozambique and Zambia ("Assets") to Jacana (the "Original Transaction"), as announced on 22 November 2010 (the "Jacana Announcement"), that require the Company to restate the terms of that transaction. As a result of an internal investigation initiated by the current directors of the Company (the "Current Board"), documents have been acquired by the Company, not previously seen by the Current Board, that indicate that the Original Transaction Announcement inaccurately reflected the terms of the Original Transaction. Furthermore, significant changes to the terms of the Original Transaction were made, on 25 October 2011, that were not announced by the Company, as required by the AIM Rules for Companies. Restatement of certain terms of the Original Transaction In the Original Transaction Announcement, the Company stated that the aggregate consideration due to the Company in consideration for the sale of the Assets was AU$1,000,000, payable in the form of cash and shares in Jacana. The Jacana Announcement incorrectly stated that the Company would receive part of its payment ".in shares on signature of the [original] agreement (20% of Jacana's share capital)." In fact, under the terms of the Original Transaction, the Jacana shares were only due to be granted on completion of the Original Transaction, once all conditions precedent had been satisfied. Accordingly, no shares in Jacana were received by the Company in November 2010 and none have been received since. Amendment to terms of the Original Transaction During the course of the calendar year 2011, the prior board of directors (the "Prior Board") agreed to a revised transaction structure whereby the consideration for the sale of the Assets would be payable in cash only and would no longer include consideration in shares in Jacana. Accordingly, on 25 October 2011 the Company entered into a revised agreement with Jacana (the "Revised Agreement") pursuant to which it was agreed that the Company would receive only cash in consideration for the sale of the Assets in the amount of AU$925,000. The terms of the Revised Agreement replaced and superseded the terms of the Original Transaction. The terms and conditions of this Revised Agreement were not announced, as required by the AIM Rules for Companies, and the Current Board are investigating why this did not occur. To date, the Company has received AU$875,000 in relation to the Revised Agreement, with AU$50,000 still outstanding, as certain conditions precedent remain outstanding, relating to licences in Zambia. Jacana was acquired by Syrah Resources Limited ("Syrah&
You are right been in since 2009 and one hell of a drop over the last 4 years with all the messing about have a buy from Aug as high as 10.6 take note Max. You could be in that position one day. Have avged down to 5.8 but no intentions of putting any more in here . Like you mogo sitting on this cookie . Glad I only had a bit of of a punt here and did not go whole hog
movements good for those who bought in during 2011, selling on spikes.Not for those in during 2009. should have sold at 16 but company seemed to be moving upwards ok at the time. Lesson to be learned here . Have managed to come down to 5.8 avge .few hundreds cash buys now could bring me to 1.5 but with last RNS no way. Will just have to wait it out.Guess BOD made too many wrong changes in last 18 mnths
If we take the above at face value given ZCI explanation It would appear that they value ACU's future production at a reasonable premium and do not want to sell below fore see able value. Seems common sense since they are not short of a bob or two, considers it safe for current investors. I have been in since mid 2009 (sold half holding when it rose to 11-13p and held since. Have thought I should have sold all and done well , however not having a top quality crystal ball I held.With current tonnage and the expectations of higher volume I am hoping they get through the present poor price return for the copper. Currently all my holding basically cost me nothing based on the sale of the half I disposed of.
Hi I agree also had good gain AIM 2005 -2007 till s,,,, hit the fan and all AIM died by 33%-66%However if those I have averaged down on ,come up within next 2/3 years, I will still be ahead rather than in Bank. ISA or building society. Too old to invest where its is best long term even in these erratic times. ie good solid companies that even up or down SP still manage to push out the dividends. Hoping PCI AFE BMR POL CGNR will be up to scratch Though PCI not going into production till 2017. If I am still around. If not well the kids will be able to buy a few more bottles of Vodka
I think you sell yourself short mate. You have over a period of time put quite a few valid points. I have no spare cash.going on help for one of my kids retraining back at college. I am sitting on PCI CGNR AFE ACU WET and a few others. Down about 2/3 now and have just lost Angel mining .Got out of what now is ASTAR and put into PCI Sold 1/2 of ACU when at 13 and put that in PCI.Hatches all battened down now LOL
I thought the same re price but as you say whay do i know
pre 2007 while markets were generally buoyant the AIM/ mining side was always quite volutileand one was able to by and largebuy/sell actively on a daily basis. however since 2008 mining/exploration has scrapped along the bottom.Historically I cannot see much reall movement across the sector till the general markets start to rise..AIM / mining is just one up from the casino, but with a chance to get out with something if the wind starts to blow the wrong way( or if you own a crystal ball). Me, i am sitting tight on this one with what I have in
can anyone get me up to date with the production as i got fed up sometime ago seeing the mess they were in through a badly designed procdution system which was in a nightmare state during thr rainy season. The much vaunted amount of copper they reckoned was available never seemed to materialize..Down time meant considerable loss of production and cost a bomb in lost revenue. From mid 09 it has all continued down hill..I dont think much will happen till someone sorts it all out by chucking a load of money into the infrastruction at the production end
I bought in here March 2006 at 73.5p It rose to 100p lots of copper in the ground but not a spade full dug out. Over the years poor mining equipment and what I consider poor management made this company a bit of a nightmare.I bought in to lower average on the drops, ie less than 2p I then sold a high proportion when it climbed to 13 , holding on to a few 1000 in hopes someone would buy it out and make a proper job of it. If you look back over the history of the production methods in place it would make you wonder what experience people had ,leading the near front edge of the production. Rainy seasons brought crushing etc almost to a standstill. However I am in still ,part of my buys have been at 1,81p ,2.14p and last buy at 1.29p Feb 2009, all at actual share cost. So guess I am as near at break even if I sold. I have the thought that with some capital and a proper prod. line design team this could knock out a decent level of copper at a worth while cost effective price, but there never seemed to be much in the way of good RNS news. The only stuff seemed to be relative to the constant breakdown / inadequacy of mining processing equipment. Though at one time they did mention that they were getting a new engineering design team in. After that it all seemed about scraping around for more cash to continue.All very sketchy and disjointed. I stuck these in a draw and blew dust off them every few months. Maybe if Chinese( who seemed to be busy in Africa generally in buying up everything in sight) did buy it up , they would make a decent job of running the plant.