Member Info for Simon_Said

Noise, I am putting it down to a few things.

1) Those of us here have known the political stuff is sorted for a couple of weeks now, but the wider market is taking time to realise. There are more and more official quotes (kindly collected below) hammering that home. Volume today is enormous, nearly double daily average (3m) and it's only 10am. In my experience it often it takes a bit of a day spike to alert the wider market to take a look at a stock again, it's a self-fuelling cycle.

2) Arca mentioned a desire to buy more, and may have started their accumulation.

3) The chart (I don't do tech analysis!) shows very little risk from down here and enormous potential, given the sole reason for a year of SP loss has just been removed.

We're in that funny kind of situation where this looks like a big day gain but the SP is still very low for where it has been recently. Even a 1 month chart reveals that. A 1 year chart is more representative to me, since it reminds us where we were before the political storm that has now passed began. Except that since then there has been other background positive news, especially on the metallurgical side which has a massive bottom-line impact in the long run.

Absolutely enormously, inestimably important news and well summarised Ant! Thankfully I loaded up last week and yesterday but it's taking Mr Market some time to twig what's just happened. Massive. Now the political storm is over the market will start to look here again and realise why this is such a remarkable opportunity. I know I always harp on about this but the sheer scale of this project is just not understood by most. If one thing positive should come from the political crap we've just finished going through, it should be that the scale here is large enough that it was an election issue in a major European democracy! This ain't no ****y little AIM dig, this is a national scale project.

I can see that too, what's going on?

I wouldn't say lack of updates, there was the RNS last week and next update due in the coming week. It's volatile because the free float is tiny, no 'scheming MMs' or 'selloff' going on. Look at the trade volumes compared with shares in issue. This share is majority held by directors and employees of Bango and II's. The tiny pool being traded is largely PI's and causes this volatility.

As expected, nice write up today from Simon Thompson with a strong buy recommendation at the current crazy price. https://www.investorschronicle.co.uk/comment/2018/06/18/bango-dials-the-right-tune-in-chile/

Yes Albinio, Investor's Chronicle website and magazine. There are very few shares actively traded for BGO, so just a small increase in trades tends to cause aggressive price movements. Hence some press coverage is disproportionately beneficial to Bango compared with other shares.

A bit o/t but if you ever need inspiration and you like 'If', my favourite poem of that kind is Desiderata by Max Ehrmann. https://allpoetry.com/Desiderata---Words-for-Life

Lol it's by Rudyard Kipling

I left a comment for Simon Thompson and he responded - he will be releasing an update article on Bango shortly. Given the only material change since before this dip has been the new deal announced yesterday, I strongly expect him to reiterate his buy stance and hopefully stoke some interest. I have stocked up as much as I can at these silly levels.

Try reading the whole RNS?

Once again a vague statement which amounts to 'trust me I'm old' without making any specific accusations or assertions. You're full of it, idiot.

That is the risked target you nincompoop, the unrisked figure (which is what most PI's bandy about for their chosen stocks) is 8p. How much money have you made by irritating investors with asinine 'arguments' on bulletin boards? Lol what a waster.

Typical Persimmon post, you say something and then put 'hmm' or 'I wonder' as if that in itself makes some sort of point. So what are you trying to imply? Of course you'll never say it because it's such a stupid argument. Your implication is that the company Reabold have bought in some way doesn't exist or isn't legitimate. This is obviously preposterous as Reabold's lawyers will have done a tiny bit more due diligence than Google the company address. And newsflash for you grandad, lots of businesses list a PO box as their address, for a variety of reasons. You are almost as bad as 'ShatAim', but in fairness you're just mischievous whereas he is an outright moron.

Crazy price now. Very little actual selling going on but price gets moved up and down here very rapidly, due to low free float. Entel was good but not spectacular, need more substantive news soon. Otherwise it'll have to wait for the results which will show the benefit of all these new deals cumulatively.

More near term drills, and a shedload of cash still sitting tight. I am certain they have another deal being worked, perhaps the one BMD is talking about.

'We aim to take advantage of the fast pathway to monetisation of these assets by utilising that cash flow to partly fund later wells in the earn-in programme. We continue to assess a number of further potential investment opportunities in line with our strategy of delivering shareholder value.' So the earlier wells pay for the later ones, and the cash on-hand from the last placing remains available for more acquisitions. They have plenty of cash on hand, so the only reason they used equity for this acquisition would be because they have something else in mind for that cash. More acquisition to come soon.

Actually I believe for non UK incorporated companies the threshold is 5%. Same thing though, activist investors would need a hell of a lot more than 5% to make these kind of threats.

Lack of TR1 indicates they haven't crossed the 3% notification threshold. That alone makes their idea of 'activist investing' nothing more than wishful thinking. They'd need to be holding tens of % for that to carry any weight, not less than 3!

Fingers - I was thinking about that as the trades dropped in the afternoon and I'm inclined to agree with you. As soon as the price dropped there was a flurry of buys. I suspect we'll see more. All the obstacles here are rapidly clearing. Meanwhile Arca call themselves 'activist investors' but they really don't fit that definition in this situation. That term requires a sufficient shareholding to effect changes, which they do not have. That's why I called it an 'angry letter' - that's all it is, not 'activist investing' as they cannot actually effect any changes to the board or the roadmap, which is what that term actually means. 21p a share/£29m market cap is absurd for a project like this which, if fully developed, could be worth billions, and creates an entire industry for a prominent European nation. I genuinely believe this is a once-in-a-lifetime moment to buy and I have been heavily loading up since the political fog started clearing in recent weeks. I am sure Arca see it the same way and want to increase their stake, so it makes sense to want to rattle things a little and get the attention of the BoD. I strongly suspect some conversations between them and Keith that are undoubtedly happening but we will never know about would put a different spin on all this too. Ultimately it allowed me to buy some more cheap shares, and it opened up the discussion about talking to Bacanora about Zinnwald which I believe is massively important to project efficiency. It really doesn't make sense to double up work either side of the border where it can be avoided. We're really talking about the same deposit here. Finally I'd like to add to Fingers' point about how things have improved here while the political shenanigans have gone on, reminding everyone that recovery amounts have also increased in the metallurgy. Sounds like a small detail, absolutely isn't. Just like remembering that the PFS was only illustrative of a kickoff scenario with minimised capex for a small area, and not a true 20 year roadmap for this vast resource. Finally, as Robinhood69 used to remind here here often, the importance of the tin to this project cannot be underestimated. It's still too often left out of peoples' summations yet it fundamentally effects the overall project economics here.