Member Info for ShipwreckSheep

"a rerate anyway, a little rns to say the losses of production are over will help immensely"

That's what feels a bit uneasy here to me, that EZ has kept rather quiet since the update when full-year production guidance was lowered a second time this year. Especially when it's for an external reason that is supposed to be short-term, if it had been solved very quickly, wouldn't he have done something to restore some confidence, be it an RNS, be it scheduling an interview with Proactive or any other platform, like other management have done in situations when there was an event that caused shareholders to lose some confidence (think of example about Hochschild giving quite a few interviews after the political interference with their mine in Peru, or Greatland unexpected equity raise late 2021 when Shaun Day scheduled an interview with Proactive to try to clear the waters a bit).

I hope production is back on track and that it actually was a short-term issue and that we'll be back to mid-teen share price before long, but it's not a great signal that we haven't had any updates in a month, will we really have to wait for the full-year 2021 results to get any info? Last year they were 1st March, so that's still quite some time.

Hi kenj,

Thanks for copying in this quote. Can you please tell me where it is from? I cannot seem to find that in any RNS by Hochschild on the demerger.

Or do you mean that's the information your stockbroker gave you? That wouldn't surprise me, as mentioned I'm using Barclays and their handling of this is really bad, still no shares in the accounts, still no communication what the options with the shares will be, even if you contact them via their investment account customer service chat. But that's poor communication by them, a UK stockbroker shouldn't be overwhelmed by this situation that TSX-listed shares get distributed to us, when they had 2 months of notice that this is what's gonna happen. They should not needs weeks after the actual dividend date to communicate our options. But that has nothing to do with Hochschild in my opinion, the communication by them was clear here, that there will be a demerger, that it'll be TSX-listed shares, and that they'll be distributed on 10th Dec. The failure by Barclays to deal with this in a timely fashion without costing their customers considerable amounts of money is what really puzzles me here, and it seems like a number of other UK stockbrokers have handled it equally poorly.

I don't see what you mean to be honest, both factors have been mentioned as soon as the very first RNS about the Aclara demerger from 19th Oct:
- that Aclara will be listed on TSX
- that the demerger dividend will be distributed in specie, as Aclara shares

It is unfortunate that some UK accounts cannot hold the shares, and that is also the case for me with Barclays, but poor communication? They gave us almost 2 months to check with the stockbroker if they trade on Canadian exchanges and otherwise to transfer the shares to spouse or whatever we choose to do. Another RNS repeating the information on 18th Nov, another on 3rd Dec... I'm with you that Hochschild aren't always great with communications, but listing this in Canada is consistent with plans they communicated in the past about wanting to access the North American markets better and they gave us plenty of warning, 2 months with repeated RNS.

Since this is now the Aclara share chat, where did the Hochschild share chat go?

Come on, we have a company here that just went through a difficult clash with the Peruvian government and there's news on that front in the past days with the announcement that environmental inspections will be carried out at the Ayacucho mines. Nobody cares?

A company that just acquired Amarillo Gold to extend operations to Brazil. Nobody cares?

A company who not long ago exercised the option over the Snip gold project in Canada. Nobody cares?

All people care about is Aclara shares, which - as somebody below points out - did not make the share price fall like a normal dividend would, and why they were listed on TSX? Is it really that surprising given Hochschild managers had said in previous presentations that they'd like to get more access to North American markets, and with one of their JV assets sitting in Canada? There's a lot of exciting things going on here, and Aclara and its future potential is even one of them, so can we please get back to these, rather than "oh, at Halifax, they do this, at Barclays that, at IG this" with the majority of people calling the company Alcara?

You can see it in the Corporate Actions section of the portfolio, there they wrote they'll reach out to shareholders about options after receiving the Aclara shares. From what I understood, they will either sell the shares and pay the proceeds as cash, or transfer as share certificates of some form, but when I checked with them, it wasn't clear how they'd do that for TSX listings.

If it's the latter, I'm okay with that, would like to hold on to the shares anyway, if it's the former, it's a bit appalling to sell the shares only days or weeks after the listing, at a lower share price, so I hope we'll have the option to receive the in specie dividend as intended.

Why surprised by the collapse in SP though, Patryk? I'm pretty much in the same shoes as you in terms of being down after initially having been up on this investment, but I'm not very surprised by the collapse in SP, what is the share price supposed to do when you have a single-asset junior producer (which, for now, Shanta still is) and you correct the FY guidance for that single asset that you operate down twice a year? The beating the SP took on the latest update stings, but is somewhat understandable, as EZ really hadn't managed market expectations well there at all, emphasising in the recent presentation that Q4 will see higher production than the previous quarters so that they can keep the ambitious looking FY guidance. What's the price supposed to do when then mere weeks later it's all "Ah, but something unexpected happened again, sorry guys"?

The good thing is that structurally there's nothing wrong with the asset, that future outlook for NLGM looks decent and that the unexpected event earlier this year has led to de-risking for future production. And that none of the events that led to the falling SP have derailed the Singida timeline. The WK results are outstanding, and for many of us who plan to be in SHG for the long run a major reason for investing, but there's a lot of open questions about both the size of the resource and how to stem the capex to get it to production, so without at least a PFS, I can't see that driving the SP in the short run with all these unexpected complications.

There's plenty of reason here to be optimistic for the coming years, no doubt. But there've been several other UK-listed junior producers or developers who have been hit just as hard as SHG (or even harder) despite not having similar complications with their assets this year, so sadly the SP doesn't seem that crazy given the situation the company is currently in. But so be it, with the future outlook not hugely affected by this, it won't take all that much to get the SP back into solid territory, as long as EZ manages to credibly build trust with market again (this 3rd party issue wasn't a matter of a day or two, and it's hard to believe that he wasn't aware of at least the risk of it happening at the time of the latest presentation, he could have chosen to sound at least neutral about Q4 rather than overly optimistic), and as long as we can see them reach the upper limit of this new FY guidance and then have a problem-free Q1 '22.

So much doom and gloom here today. Especially when some mention that the past 2 years as a CEY shareholder have been awful. How? As long as you got in at or below 100 each time, as a trader you had a good shot at making a healthy 50%+ return in 2019, a 100%+ return in 2020. Or as an investor, you earned a very solid dividend, which, if you include it in your yield, put your performance pretty much in line with other mid-cap single-asset producers. Plus were given upside through trying to get away from the single-country, single-asset profile, which of course takes time, and does so for every company. So overall this has been a pretty okay stock for both traders and investors in the past years. Unless you got in at 200 at the top of last year's gold rally. But then what mid-cap single-asset producer would have left you so much better off?

One question that Freddie has brought up here is why the share chat has been renamed to only Greatland, rather than Greatland Gold. This is also consistent with the company website, in the text the company is only referred to as "Greatland" and the image for the latest presentation "Growth Update October 2021" shows a logo that only reads Greatland, rather than Greatland Gold, even though inside the presentation, the logo is the old one. Can somebody confirm if that was always the case on the website? I hadn't paid attention to it, but now that it was pointed out, could that be a rebranding?

If so, that might even be a signal for good news in the near future, such as a new (non-gold) deposit? Or maybe that's me being naively optimistic and it's just a general rebranding that sets GGP up for the future in a more accurate way - a player in several metals and not just gold?

Appreciate the insight. Of course the center stage of Senala makes sense, for now that must be seen as the "flagship asset" because given the JV with a bigger miner it's automatically a bit further along on the de-risking stage + they were able to announce a maiden JORC-compliant resource, so can't blame them for posting that, on the contrary, it'd be strange if they didn't. And now that I found it in the IAG presentation, even if it's not much more than a greenfield side note, that puts me a bit more at ease here.

Seems it is mentioned in the latest corporate presentation from IAG after all, slide 17 in the Nov presentation, "Robust Exploration Pipeline". Not much, but it's something at least I suppose.

Thanks for clarifying Legalwolf, I appreciate it. I suppose that makes sense to some extent, although somehow I still would have thought that Senala should be good enough to include in the "Explorations -> Joint Ventures" section of their website, where they really only have listed one joint venture, so it seems a bit odd.

Based on the (admittedly limited) research I have done so far, the Cameroon tenements are the ones which would make me interested in this company, insofar I agree with you, but given that a good chunk of the presentations and Twitter posts and RNS are on Senala and in particular with a maiden resource being established there apparently, it still makes me suspicious a little bit to see how it is no priority at all for the senior JV partner, even more so if IAG if it had been part of IAG corporate presentation in the past and is not anymore.

So even though I think Oriole is an interesting company, also because of the occasional income stream from legacy assets shareholder dilution might well be lower than at other junior explorers, that keeps me - and probably others - on the sidelines for now, until either (a) IAG sheds some light on their ambitions at Senala, or (b) the ORR presentations/social media/RNS focus much more on Cameroon than Senegal.

I'm pretty new to this company, only watched their latest financial results presentation from September and trying to dig into it a bit. Can someone with longer experience in ORR please enlighten me: How come the Senala license isn't mentioned anywhere on the IAMGOLD website given the JV there? Or am I just blind?

Okay, I checked and have to correct myself, 3rd one wasn't Metal Tiger but Metalnrg PLC. He currently reported 74.5m GGP shares, 4.5m POW shares and just over 16.5m shares in Metalnrg

I can confirm the numbers that Adrianjuk posted here are also consistent with live Bloomberg terminal, where I checked them earlier. But as Unimaginative pointed out, I only have a few posts here, so you don't have to believe me.

Bloomberg also showed him hold shares in 2 other firms, one was POW (but only around 100k pounds), and I think the third was Metal Tiger, but not sure about it and started my weekend by now. In any case the ~11m pounds of GGP was by far the largest of the 3 and yes, it only spiked up there again this quarter and was 0 for Q3

Yeah, the numbers you state are consistent with data shown on Bloomberg

midnight UK time

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