Member Info for TigerByTheTail

So, I was right about the small placing with the remaining headroom being required - just a few days too early. It's understandable that the company needs urgent cash, given the arrival of the BP licence and also possible extra expenses related to the rapid progress at Marange. No problem with it from me.
Very happy to see the director buys as well. That shows confidence. (Though quite how they are not in a closed period is a bit beyond me).

https://www.proactiveinvestors.co.uk/companies/stocktube/10885/botswana-diamonds-delighted-with-study-on-marange-diamond-fields-concession-10885.html

The RNSs this morning (both Vast's and BOD's) were noticeably tight-lipped, so I don't think there'll be a podcast.
It's probably not the moment to blow the trumpet about Marange.
IMO, give it another 2-3 weeks...

Endeavour are a great company.
I'd very happily swap my HUM shares for Endeavour shares if they threw in a nice takeover premium!

Hi Sotolo!
This is irrational, but I have "a knack" for Centamin. It's my lucky share; I seem to be able to buy CEY low and sell CEY high. For that unreasonable reason, I prefer CEY!
Hochschild I do well enough on, but not to compare with CEY.
At these prices I am very keen on both companies. They manage to combine being excellent long term holds + excellent short term trading shares. (CEY is ideal of course for trading, very narrow spread, reasonable volatility and no stamp duty).
FWIW, I don't think the current rise in precious metals is "the big one". Gold has just stirred in its sleep, and reminded everybody how powerful it actually could be. But, for my money, "the big one" only comes when the US economy starts to go off the boil (2019?).
I feel HOC is currently trading "below par", especially given the lacklustre reception to today's good results. Any kind of a rally in silver, and I think we'll get a big day here.

Yes, I'm definitely mystified by the share price. Discombobulated, even.
But still happy with today's news.

Hi Sotolo!
Very happy to see you here as well in Centamin!
Let's hope today is a good day - it should be. But who really knows in this game?

By the way, wonderful news this morning.
BOD and VAST both a little tight-lipped, naturally. But things are now moving forward - and remarkably quickly.
(Very happy if Vast need to place equity to raise money to keep as much of the potentially massive profits as possible. Would like the chance to subscribe for shares!)

Hi Schmoops!
Assuming that Red Mercury get 25% (as per previous RNS, subject to Zimbabwe diamond policy changes), the final shares for the whole Heritage venture will be:
Vast - 65%
Red Mercury - 25%
BOD - 10%
The 50%/50% potential JV split previously mentioned in Vast and BOD RNSs does not apply to this venture. And I think it won't apply to any other concessions gained / regained in Marange, too.
I believe that BOD and VAST are ALSO looking at reopening an old diamond mine in the far south of Zimbabwe. IMO, that will be the 50%/50% JV!

How can trading continue on AIM when it is halted on ASX? Gob-smacked.
By the way, I know Reuters well, and they have serious internal reporting standards. These "anonymous" sources will be real people in high positions speaking off the record, on background. It's not fake news.
Perhaps this was all inevitable the moment that the Partido Popolare government fell - BKY got far, far, far too close to the PP. Now the Socialists and Podemos are in power it's payback time.

Excellent quarterly production result.
Full year guidance increased.
Full year estimated AISC lowered.
New improved resource estimate due by November 7th.
What's not to like? Well, the silver and gold prices over the last few months, of course. But we knew about them already.

RNS out. Desk top study for diamonds in Heritage Concession in Marange. Rather tight-lipped but the potential is obvious. (And, anyway, we now artisan miners are pulling gemstones out of the mud there already).
Vast Resources have issued a parallel RNS. They're moving ahead to a full joint venture with the owner of the concession, the local community trust (Red Mercury).
This is now officially happening, and I rather suspect there is a lot more news to come shortly.

Any money those mythical diamonds in the Central Bank safe have long since been replaced by a packet of glass beads!
Please, folks, be realistic. Think of the nightmare that Zimbabwe has been through. People will do more or less anything when their children are hungry. And we shouldn't even blame them for it.

Q3 report must be due soon, judging by past reports - this week or next.

Folks, Zimbabwe is a very poor country whose government want to raise it to middle income status.
You don't make friends by insisting that they pay you money they don't have in restitution for past wrongs, or that they restore diamonds to you that may or may not still be in a safe in the Central Bank.
No, you talk about the future. About the money you can make together. About the jobs you can create.
And then you ask for mining licences and the right to re-open brownfield sites, and other things that are really important, but which actually cost the government no money upfront.

Hi EvilPlum!
You hit the nail on the head in your post.
The Zimbabwean Government need to reach some kind of settlement with Vast (formerly AFCR) over Marange in order to restore the country's international business reputation. This won't involve financial compensation (they've got no money), nor the return of the mythical confiscated packet of diamonds supposedly held by the Central Bank (they've vanished in the Mugabe years, of course). Rather, there will be some quid pro quo involving granting Vast future mining rights in Marange in return for a quitclaim on the past. IMO, there is a potential "win-win" deal for both parties here.
Additionally, we should remember that there are a couple of abandoned brown field diamond mines in Zimbabwe that may also be in play. Perhaps that is what BOD were referring to when they said in their RNS that other ventures with Vast in Zimbabwe would be on a 50%/50% basis.
In short, this could be a very interesting month!

Hi Visitor!
Judging by my experience in the film/TV industry, a non circumvent agreement would be standard practice. I've got a box file full of NDNCs, and I can't recall the last time I was offered an American-originated project without having to sign one. (The UK is different - they are far rarer here).
Yes, Hummingbird could try accusing Bunker Hill Mining Corp of fraud / malfeasance, void the agreement, and do a deal with Placer without them. But I wouldn't recommend it, given all the possible ramifications / general grief. Far easier / wiser / cleverer to find another project with a cleaner, simpler chain of title.
For my money this is project is a poisoned rabbit, or a dead duck or parrot, or something like that. It just needs a decent burial now.

Yes, interesting that he will be spending so much time in Zimbabwe after the AGM. There must be something behind that.

Quarterlies tomorrow.
Silver inching up towards $15 per ounce.
If the results are good, this could jump, IMO. It's underperformed other precious metal miners recently.

I just want to make a technical, legal point for PIs here who aren't familiar with deal-making in the USA.
HUM almost certainly signed an NDNC (non-disclosure non-circumvent) agreement with Bunker Hill Mining Corp. at the start of their negotiations with them. That's standard US business practice. If that's right, it means that HUM can not go behind Bunker Hill Mining Corp's corporate back and do a deal with Placer Mining (the actual owners of the Bunker Hill mine); even though Bunker Hill Mining Corp's option to buy the mine from Placer has now expired. That's what non-circumvent is all about!
So I very much doubt that this is cunning manoeuvre by HUM in order to cut a middleman out of a deal. (And if it is, God help us, because it is fraught with legal peril).
Rather, it's simply a dead loss of $2m.