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With you there SK & BMo3, just bought some more at £1.80
Fantastic grade updates here people… and we’re still on track for gold pour before end of year. This should calm the nerves of investors who were querying why we had not received any updates since before the fire. It would not surprise me if the MMs take this down a tad from this morning rises to let the North Americans in before their open. After that we should steadily rise back above previous highs in the next few days.
I have been following this board for the last few months having entered with an average of 160p. It seems this share has been following the same pattern for the last week. MMs raise the bid in the morning and steadily drop it when Nasdaq opens. I remember a poster (sorry forgot who) mentioning it would be better if the UK buyers delayed buying until after Nasdaq opened to try to prevent these silly games. Anyway, the fact that UK price has stabilised and has not ventured lower than 165p over the last week has given me great confidence that the MM games are coming to a close. However, reading this board today it seems that some posters are intent on doing the MMs work for them! Please get a grip and remember why you invested in the first place.
No problem Jeffus... good you made some profit from it.
Hi Jeffus777 - I was just making the point that the stock price is being lead by the volume in North America. Ideally the share prices in London, Canada & US should be about the same but, like you suggest, this morning you had the chance to buy in about 5% lower than the close price on TSXV last night. It’s always worth checking the other listings before buying and selling to see if you are getting good value before you trade.
We've already double the volume on TSXV in five minutes that we've had on AIM the whole day! My guess is that people are starting to take positions ahead of the pour as well as diversification away from tech stocks in safer gold. Whatever it is, long may it continue.
https://money.tmx.com/en/quote/PGM
I’m surprised people are not buying on AIM due to this disparity to the CAD price. The MM’s are dragging this down to 138p on minimal sales when the CAD price is 151p equivalent! All the recent buying pressure is being driven by North America. There is minimal appetite at the moment on AIM It just shows this is one of those situations where we are benefiting from being triple listed in Canada and the States. Roll on 2:30pm I say.
Hi Trek, as someone who always reads your input it's good to see you here. I've only been here a short while myself but this company is one I feel most confident about. With the continued strength of the gold price and the imminent first pour, I can only see the price moving one way. ALB.
I've had this on my watchlist for a couple of months and decided to take up a position. I would have got in earlier but chose to go for RRE instead as it had the cheaper market cap and more cash on hand (I was lucky for once!). The fundamentals look good and I particularly like the corner of the world the company has its assets. I must say, I'm also encouraged by the fair number of largish trades that have be going through at the midpoint over the past few days. Judging by how the share price moved up since Monday and stabilised, I'd like to think these were mostly buys and a signal of the direction this will continue to head.
@UKInvestor - I see it as a combination of a few things:
1) Gold reserves in proven area and safe juristriction
3) High grades & low cost ($800 oz)
2) Continual news flow adding value and resources
3) No problems/delays reported with contruction
3) Fully funded phase 1 plus looking to fund additional phases through cash flow (without dilution)
4) Impressive register of shareholders
5) First pour due Dec 2020, but not unreasonable to suggest it could be a bit earlier.
I've probably missed some other things off the list which better informed posters can add.
The way I see it is that the share price will continue to rise in the build up to first pour but this is LT hold for me. As always DYOR.
Think I'm beginning to get the picture now. That supposed delayed sell for 10K shs at 08:12:58 is a buy because I bought at 122.5 just a few minutes earlier.
I bought another 25K shs at 8am this morning - surprise, surprise, it's not showing. Never seen anything like this. Some serious attempts by MMs to hide the trading pattern on this share. The only good thing is that I'm holding for the long term so it doesn't make a difference to me. I just find it annoying and unnecessary. Rant over.
Hello All, I only bought in on Monday but I have already noticed that most trades over £5k in value are reported late with this stock. My Monday buy didn’t show up until after 5pm the following day. I also made a further small purchase today which was also reported late. It makes it very hard to follow what’s going on with this share - like understanding today’s late drop as an example. Is there any obvious reason for this as it usually only happens with significantly larger trades on other stocks?
Yes that's it, so there's no need to rush in and overpay. AA is a very canny opeator and I have the utmost cofident he will deliver a big time acquistition with maximum bang for buck in the near term. I for one am happy to wait knowing that if he doesn't strike in the next six months we can expect another bumper dividend as consolation.
The amount PMO had agreed to pay for the 25% of Tolmount from Dana was actually US$191 million plus contingent payments of up to US$55 million for 14K boe p/d and gross resources of 22.5M boe. From what AA has said in the past and unless the price drops significantly I just can't see AA getting involved with this as it would be too dillutive. One thing's for certain... it certainly makes a mockery of the current RRE marcket cap!
Agreed Coldjoe the business model has served RRE well to date, allowing it to grow quickly in a short time frame in a way that otherwise would not have been possible. This shrewd approach has served a means to an end. But now the company has developed both significant production and cash I feel the time it right to consider alternatives. The politicians of all parties in the UK have long proven themselves to be without backbone and there is a danger that the North Sea O&G industry may be hung out to dry as a consequence of the Government's net zero emissions policy in the not too distant future. The UK is not like the USA which demands energy self sufficiency so why would AA be so bold as to put all his eggs in one basket? It should certainly be given consideration and I prefer the idea of a company which is actively managing and mitigating its risks.
With that being said, I have bought into RRE today as I do believe it is vastly undervalued. Even if the next deal is in the North Sea region it should only add to the market cap in the short to medium term.
Good luck with your investment.
Thanks Coldjoe. Hopefully AA will reconsider this position as given the current global situation it is short sighted. I believe there must be better opportunities around the world which have lower lifting costs and lower decommissing liabilities than the NS area. I think in particular, the NS assets will suffer more from the climate change agenda than less politically charged areas such as those in Asia.
Is there any chance AA will look to diversify away from the North Sea area with any future aquisistions? I've been comparing RRE (down 3% today) to JSE (up 7% today) which are similar companies both with an agrressive takeover strategy except JSE is operating in the Asia Pacific region. JSE is producing 12-14K bbls/d and has $72M cash in hand compared to RRE's 20K bbls/d & $339 net cash. Yet JSE has a market cap over twice RRE (£295M vs £143M). JSE are also intending to pay a maiden from this year compared to RRE which already paid 85p p/s dividend for 2019. It really makes no sense. It seems to me that AA should be looking to buy assets away from the 'unfashionable' North Sea and maybe look into this more 'fashionable' Asia Pacific area instead. I see JSE are monitoring takover possibilities in Asia Pacific area... maybe AA could get in their first!
Does anyone have any thoughts/ideas on this?
Thanks in advance.
@flyingmachine. Avacta have been very good at constantly adding postive newsflow which has driven its share price forward. It also prevents trading for FOMO.
With regards the placing shares here, I suspect any II who wanted to offload those would have already forward sold on Friday or before. We may see a couple more days of turbulence but then I fully expect the share price to start ticking up from the 28th May, in anticipation of the June sales, which I reiterate has been totally overlooked by the market thus far. Anyway, who's to say we won't get an RNS this week detailing some meaty sale agreements? It's a big risk to be out of this now knowing first commercial sales are anticipated in June!