Member Info for the_shareminator

Articles of interest
https://www.reuters.com/markets/us/us-manufacturing-sector-weakest-nearly-three-years-march-ism-2023-04-03/

https://markets.businessinsider.com/news/stocks/us-economy-outlook-inflation-recession-treasury-banking-crisis-fed-gromen-2023-4

https://www.reuters.com/markets/currencies/dollar-gains-inflation-worries-resurface-after-opec-surprise-2023-04-03/

https://www.fxstreet.com/news/usd-should-continue-to-struggle-amid-economic-concerns-commerzbank-202304040928

https://www.fool.com/investing/2023/04/04/us-economy-recession-what-investors-should-do/

A couple of articles from the past 24 hours pointing to weaker US economic data and possibly bringing forward timelines for US rate cuts but I have yet to find the reason why the USD sank this afternoon sending gold up to all time highs. Maybe as someone mentioned earlier, it was just a build up from earlier in the day

Gold up 1.84% at $2,037.95
Silver up 4.4% at $25.87

MMs beginning to move the ASK up towards 12p

Fire well and truly lit but still well below the 40-50p range we should be currently trading in with gold at $2,000/oz.

Thank you for sharing your estimation. it looks fairly conservative and I wouldn't be surprised if Singida guidance is higher given the details released recently;

From the 13th February update the Run of Mine stockpile at Singida was 13,581 oz and "equal to approximately 4 months of processing". Now we are six weeks on the RoM must be in the region of 5-6 months equivalent. This would also suggest Singida can now process 10,000 ounces each quarter assuming consistent grades, which is more than "previous LoM plan guided for approximately 32,000 oz pa".

The tricky part is calculating how quickly operations will ramp up as this will affect 2023 Singida guidance. The first full year of Singida production in 2024 will likely be higher than the 32koz mentioned in the annual results.

Quick summary of 2023 milestones to date and upcoming catalysts

West Kenya Resource Announcement (26 January 2023)
Very positive update confirming West Kenya Project Resource increases to 1.7 Moz with a substantial 91% increase in the Indicated ounces category.
https://www.lse.co.uk/rns/SHG/west-kenya-resource-announcement-ldo6p2rukkm1pro.html

West Kenya Project Resource Update (22 February 2023)
Another pretty remarkable resource update which went unnoticed by the wider market detailing the huge increase in Indicated resources at Ramula, Bushiangala and Isulu confirming open pit mining potential at the former.
https://www.lse.co.uk/rns/SHG/west-kenya-project-resource-update-ay3tpo75lnlrvm6.html

Group Reserves and Resources Statement (27 February 2023)
Hugely successful 2022 drilling campaigns extending the mine life at NLGM and adding new reserves across the group.
· Total Group-wide resources of 3.67 Moz comprising:
- NLGM resource of 1 Moz at 2.42 g/t
- Singida resource of 0.9 Moz at 2.36 g/t
- Kakamega Camp NI resource of 1.29 Moz at 10.60 g/t
- Ramula NI resource of 0.47 Moz at 2.41 g/t
https://www.lse.co.uk/rns/SHG/group-reserves-and-resources-statement-1bxsfvekud29675.html


Updated list of value adding catalysts coming:
- Completion of the Isulu Bushiangala and Ramula Mineral Resource Estimate in Q1 2023
- Hot commissioning of the full process plant with first gold pour by end of March 2023
- Singida production guidance to be released following commencement of commercial production
- Achieving increased group production and record half year production
- Record half year revenues (a possibility) and forecasting anticipated record full year revenues
- Increasing mine life once more at the New Luika Gold Mine and additional drill results at Singida and West Kenya
- Reducing net debt position in H2 turning net cash positive by Q4 2023
- Achieving 100,000 oz production on an annual basis by end of Q4 2023

Shanta to report improved second half production and an a significant output increase in the year ahead (+60% from current 65koz levels). Future annual cash-flow of 60-70 million dollars based on $1650/oz according to a late 2022 presentation so much more with gold trading at $1950/oz

Anglo Asian are transitioning into a primary copper producer so gold price fluctuations will matter even less for AAZ shareholders in the not so distant future. That isn't to say the company are overvalued right now. They generate plenty of cash and have paid dividends for years however they are and will be investing substantial sums of capital in the next couple of years to increase copper production and so are a few years behind the curve compared to CAML.

A stronger copper player that has a better track record than Anglo Asian would be Taseko (TKO) which has it's copper producing mines located in North America. Whilst CAML are in a very comfortable position today and worth holding for the dividends this is more of a hedge on the copper price than a growth play.

Depreciation is generally an accounting gimmick used to off-set profits. It is almost entirely non-cash, possibly cash losses from a previous year but has no operational effect nor does it have any bearing on the company's business health.

You could do far worse than holding CAPD, they are playing a straight flush quarter after quarter.

Link to presentation notes above
https://wcsecure.weblink.com.au/pdf/RSG/02635867.pdf

With regards the Ore Reserves and Mineral Resource Statement announced today

· Mineral Resources increased by 1.7 million ounces (Moz) to 11.2 Moz of gold, net of depletion
· Ore Reserves have increased by 0.6 Moz to 4.6 Moz, net of depletion
· Syama Mineral Resources increased significantly following exploration success at Syama North
· Mineral Resources at Syama North increased to 3.2 Moz and Ore Reserves increased to 854 koz, with 10% (85koz) of oxide material
· Further 126 koz of Mineral Resources at Syama Underground converted to Ore Reserves due to improved mining productivities
· Mako Ore Reserves and Mineral Resources reduced in line with mining depletion

Ore Reserves have increased to 4.6 Moz of gold and Mineral Resources have increased to 11.2 Moz of gold after accounting for the effects of mining depletion, improved productivities underground and exploration success.

At 31 December 2022 Resolute's direct share of Ore Reserves was 3.8 Moz and Mineral Resources of 9.1 Moz.

The exploration success at Syama North has added 2 million ounces of gold to the Mineral Resource this year and added 850,000oz to the Ore Reserve

Resolute's Chief Executive Officer, Mr Terry Holohan, commented:

"The continued success of the drilling program at Syama North over the second half of 2022 exceeded our expectations. The drill rigs are still turning on this contiguous strike discovery of over 6km which remains open at depth. At this stage the 850 koz of Syama North Ore Reserves focus only on the widest sections of the A21 pit, thus we expect further updates later this year as in-fill drilling continues delineating additional economic mineralisation. It is also worth noting that the 10% oxides delineated at Syama North now represent some of the highest grades of oxides at Syama such that they will get processing preference once mining starts in earnest.

Also due to recent sustainable efficiency improvements at the Syama underground operation over 2022, the Company was able to convert a further 126 koz of the existing Mineral Resource Estimate to Ore Reserves.

"The company now turns its focus to the Syama North pre-feasibility study (PFS), which is intended to be the first step in exploiting the sulphide reserve, due for publication in the middle of 2023. Significant additions to our Mineral Resources and Ore Reserves, such as Syama North clearly demonstrate that the Syama Belt is surprisingly under-explored and justifies the need for further exploration work to be undertaken along the prospective >85 km of strike."

Pleased to see the huge turnaround in fortunes since the backend of 2021. Resolute are now virtually net cash positive and will be certainly by the end of Q3 this year. Today's statement shows just how quickly the company are replenishing not only reserves (at higher grades) but also the resource base from which to delineate further prospective zones along strike.

The recent presentation summarises the more important events that happened last year namely;

• 5 consecutive quarters of incremental production growth to Q4 2022
• Gold production of 353,069 ounces (oz) at an All-In Sustaining Cost (AISC) of $1,498/oz
(CY22 Group guidance: 345,000oz at $1,425/oz)
• Revenue of $651.1m from gold sales of 357,447oz; average realised price: $1,819/oz
• EBITDA of $148.2m
• Underlying NPAT of $20.3 million (2021: -$93.5 million)
• 58% increase in Syama North resource to 34Mt @ 2.9g/t for 3.18Moz
• Successful equity capital raising of A$164m
• Year end Net Debt of $31.6m (31 December 2021: $228.8m)

Resolute has 130,000 ounces hedged at slightly more than $1900/oz in the latter three quarters of this year which is 5% more than current spot.

2023 Production and AISC Guidance is 350,000 ounces at AISC of $1480/oz

Capital Limited update today confirms "Singida mine site laboratory commissioned"

"MSALABS, a global provider of geochemical laboratory services for the exploration and mining sectors and a majority-owned subsidiary of Capital, is pleased to announce positive operational developments."

"MSALABS has now commissioned a mine site laboratory at Shanta Gold's Singida mine in Tanzania having been awarded a 3-year contract late last year"

https://www.investegate.co.uk/capital-limited--capd-/rns/msalabs-trading-update/202303060700039281R/

"The Group incurred $6 million of non-cash items including depreciation, depletion and share option charge). Profits are only booked after the payment of such items, so the Interims basically showed a $5M loss."

For non cash items such as impairments and depreciation there is invariably no payment due. I'm not sure if you're suggesting otherwise but it sounds like you may have misunderstood this looking at your above comment.

Very tempting Ask today. I can't remember a time when Pan African were trading this low and turning so much profit. The markets have been shunning precious metal miners for the best part of 20 months and certainly in the past 3 consecutive quarters which has coincided with rate rises across the board. It won't be much longer before rate hikes cease and then quite possibly reversals later this year as major economies begin to slow, job losses mount and we begin to see homeowners repossessed. Not expecting a major recession but even a mild one following this outlook should be positive for commodities and the sector at large. Not going to dip my toes back in here until the picture is a little clearer though as might save a couple pennies more. GLA

There are maybe two dozen of us posting here and almost certainly others reading who understand the potential for Shanta to multi-bag in a rising gold price environment. I would think our collective group-think contributions could be better spent than responding to non-holders who are seeking to disrupt the harmony here.

With a bit more time this weekend I'd like to go through Eric's video presentation in more detail. There were some interesting answers given when it came to the Investor Q&A session and these really should be repeated in text format for anyone who may have missed it.

On the whole everything is moving in the right direction with hot commissioning at Singida to begin in less than two months. For an idea of how quickly fortunes can turnaround one only needs to look at gold producer Resolute Mining which has risen 60% following a capital raise reducing debt and jumping to 6 month highs as recently as yesterday after announcing a huge increase to it's resource. Now if only we were due a resource upgrade soon..

The price of gold climbed above $1900/oz for the first time since May. Good news for gold producers like Resolute who already had generous hedging agreements in place and which are likely to have improved in the next quarterly update as the company tend to secure better put prices compared to the prevailing market price.

Reuters reports the rising gold price was further buoyed today by slower growth in U.S. consumer prices increasingly the liklihood of the Federal Reserve continuing with smaller rate hikes and possibly reversing course later in the year.

U.S. consumer prices rose by 6.5% in the 12 months to December, the Labor Department said Thursday, announcing the slowest inflationary growth in more than a year and indicating smaller rate hikes ahead by the Federal Reserve. The Consumer Price Index for All Urban Consumers, known in short as the CPI, slowed exactly as forecast by economists, after a 7.1% annual growth reported for November.

“This was the smallest 12-month increase since the period ending October 2021,” the Labor Department said in a news release.

The CPI hit a 40-year high in June when it grew at an annual rate of 9.1%, versus the Fed's inflation target of just 2% per annum. In a bid to control surging prices, the central bank added 425 basis points to interest rates since March via seven rate hikes. The Fed, which executed four back-to-back jumbo rate hikes of 75 basis points from June through November, imposed a more modest 50-basis point increase in December. For its next rate decision on Feb. 1, economists expect the central bank to announce an even smaller hike of 25 basis points. The Fed funds rate — a tool used to gauge the odds for a certain quantum of rate hike — was at over 80% on Thursday for a Fed increase of 25 basis points in February.

The dollar was at a six-month low versus a basket of six major currencies that included the euro and the yen.

Thank you for sharing all the recent developments here Rivaldo. It’s very much appreciated!

Happy New Earrr!

Hopefully we never have to deal with more than two willies!

Still waiting for that placing dogturd?

Those were unprecedented times. Global disruption stemming from Covid lockdowns..

Going forward MEGP is poised for further growth

Follow-on investment in Libero Copper & Gold Corporation

19.8 per cent. holding maintained as part of Libero's CAN$2.0m placing

Anglo Asian Mining plc ("Anglo Asian" or the "Company"), the AIM listed gold, copper and silver producer primarily focused in Azerbaijan, is pleased to announce it has made a third investment in Libero Copper & Gold Corporation ("Libero") to acquire 2.6 million new shares at CAN 15 cents per share for a total consideration of CAN$390,000 (US$289,000).

The investment, which maintains the Company's 19.8 per cent. shareholding, forms part of Libero's recently launched private placement with gross proceeds of approximately CAN$2.0 million (US$1.5 million) to be used for exploration at the Mocoa and Esperanza copper porphyry projects in Colombia and Argentina respectively. Further information about Libero's properties can be found at: https://www.liberocopper.com.

Libero is listed on the TSX Venture Exchange (ticker LBC) and owns, or has the right to acquire, several copper exploration properties in North and South America including Mocoa, one of the world's largest undeveloped copper-molybdenum resources. Anglo Asian now holds 18.1 million common shares in Libero, as well as a total of 8.9 million warrants exercisable at CAN 22 cents and CAN 75 cents per share as set out in the table below.

Libero provides Anglo Asian with exposure to significant copper resources, in addition to the Company's fully-owned projects including the world-class Garadagh resource. Anglo Asian is currently at the final stages of developing its medium-term growth strategy, culminating in its transition to becoming a copper focused, mid-tier mining company.

Anglo Asian CEO Reza Vaziri, commented: "We are pleased to make a third investment in Libero in little over a year. With an exciting range of significant copper assets across the Americas, and an experienced management team, we have the upmost confidence in Libero to develop these assets in a swift and responsible manner. I look forward to updating our shareholders on Libero's progress in the coming months."