Member Info for TigerByTheTail

I find it very hard to believe that a new Nomad would take BMR on. Perhaps the true wonder is how long it took WH Ireland to resign.
At this point, the best thing for all concerned is for JLP to make an agreed all-share offer for BMR.
That's best for BMR shareholders as they get tradeable shares, instead of useless shares in a non-listed company.
It's best for JLP as it gives them 100% control of Kabwe, and it stops Alex Borelli panic-selling the JLP shares that BMR already own.
But, that said, this is a mess. I'm sure JLP won't feel the need to offer much to BMR shareholders - at most it will be a 1:1 share swap, and quite possibly less than that. And a lot of BMR shareholders will immediately dump their new JLP shares, suppressing JLP's share price for months. Everybody loses here - at least in the near future.

Here's another thought: what if China sold off its mountain of US Treasuries (whilst they are high), bought gold futures en masse (whilst gold is cheap), and then insisted on physical delivery? The gold price would rocket.
IMO, the miners (even together) aren't powerful enough to pull this "corner" off. But China would be, methinks.

Hi Plumbus!
Thanks for posting the extract from the actual AIM rules.
I'd be grateful if any other posters can add detail on this crucial point.
The key question is: will BMR automatically be struck off AIM in early August or not?

This is where BKY and I part ways for good. I'd sold out already, but I was thinking about buying back in when the time was right.
However, today's highly partial and disingenuous RNS has convinced me that Paul Atherley is not to be trusted an inch. Today's RNS is designed to mislead investors, but without actually lying outright. Sorry, not acceptable behaviour from the CEO of a PLC. This project has very serious permitting problems at central government level (not regional), which BKY just refuses to admit to.

I'm sorry, Frank, but your arguments don't really wash.
HUM's share price is ridiculous by almost any valuation measure you choose to employ. And one of the chief responsibilities of a CEO is to ensure that the share price reflects the true value of a company. By this measure, Dan Betts is failing horribly in his duties - for all HUM's operational success.
How on earth can you justify Dan's failure to issue an "all clear" RNS after the security incident? Or his failure to give interviews explaining the situation and calming investors' nerves? I'm not sure if that was negligence, incompetence, or a deliberate attempt to suppress the share price; but I am sure it was a major failure.

Hi Sands!
What is extraordinary is how the SP doesn't move despite all the sells at 30p.
IMO, it's been obvious for weeks now that we have a background buyer who is patiently accumulating a very large stake in HUM. It's also obvious that HUM are happy with this situation; they've clearly held back news and refused to engage in any kind of supportive PR. (FWIW, something I consider both immoral and a huge error of judgment).
But who is the buyer? And why are they buying all these shares?
FWIW, my working theory is that Canadian goldie Endeavour (EDV) are building a strategic stake in HUM before the announcement of a JV with HUM for the development of Dugbe (presumably, we'll get confirmation of the new MDA with the Liberian government at the same time). With time, I suspect this initial deal may well develop into a full takeover - but not immediately.
Anyway, time will tell...

Hi DropInMonkey!
I actually agree with your post. It's obvious that the market is not comfortable with management's current hazy strategy, and also their poor recent PR and comms. Hence HUM's ridiculous share price.
I know there is a legal obstacle to be dealt with first, but (IMO) right now the best use of the company's cash is to buy back its own shares. (Normally, I don't agree with share buybacks, but HUM is clearly a special case).
I hope that Dan and the team have a rabbit to pull out of the hat (JV deal for Dugbe?), and a clear plan to turn the SP around. If not, the market will take control of the company away from them. And rightly so.

Market cap still below 30m quid!
Existing Zimbabwe operations and assets alone worth that, without even taking into account the possible upside of diamond licences and new brownfield gold mines.
Existing Romanian operations and assets worth substantially more than Zimbabwean ones. And there's a big potential upside there too (Remin mines).
So...

In the big picture, I'm very happy to buy at these levels, as a long term play.
But the sensible thing to do must be to wait a few days/weeks to see if the SP drops further.

Has anybody ever tried an investment strategy based on the fact that the random appearance of a new deramper on a company's LSE bulletin board normally heralds good news? It might just work!

GGP current market cap - 55m.
VAST current market cap - 29m
Explain how this can be in less than 1,000 words by Monday morning.
Is AIM really THAT clueless?!?

What a bizarre RNS! Who promotes a "JORC target"? It's absolutely meaningless (and totally unprofessional).
One could almost suspect the company is trying to deceive some innocent PIs, and sucker them into putting money in ahead of a raise.
But this is Ariana, so that couldn't possibly be true, could it?

Hi Itsaduster!
I don't know if you were around during the rise in February... At that time we saw strong, persistent institutional buying up to about 18p; the rise after that was PI driven. So I'm expecting to see strong support of the share price again in the 16p to 18p range.
This is still a producing rare earth mine with a blue chip off take agreement. The exploration upside is still clearly very large, even if they haven't found the source of the rare earth mineralisation this time around (I assume magnetites gave false readings on the airborne survey). Yes, unless the Chinese "weaponise" rare earths in their trade war with the USA, I don't see any reason for RBW's SP to spike in the near future. But, IMO, dips will be bought. And all the time the free float of shares is decreasing.
Finally, it wouldn't entirely surprise me if there were a placing to fund the second phase of the drilling. But, if so, I think this will be only at a tiny discount to the current SP, and it will be snapped up by Legal & General, Miton etc. in minutes.
All IMO and DYOR, obviously.

Hi M@Aim!
Pretty much my feelings too - good but not great results. Will definitely extend life of mine.
i'm holding what I have; will add on significant weakness; playing for the long term now.

"We’re delighted to have won the Best Basic Resource category at the UK Stock Market Awards last night. Thanks to all who voted! #awards #gold #mining"
Congratulations in order, it would seem...

Hi Barnaberible!
I agree that URA ETF rebalancing is a red herring.
IMO, the reason for the drop in BKY's SP is fear that the new Socialist minority government in Madrid will stall on approval of the "radioactivity" licence due from CSN. And, without that licence, BKY are going nowhere.
It's very hard to tell how well grounded these fears are, but it's worth reading some of the links posted by Langostino on ADVFN. "Stop Uranio" - the protest movement against the mine - may be weak locally, but it is strong centrally, and it is closely linked to the political party Podemos, whom the Socialists rely on to stay in power. It is also to be noted that BKY is strongly tied to Partido Popolare (i.e. the people who just lost power).
My instinct tells me that if we can procrastinate about expanding Heathrow for fifty years, why can't the Spanish "mañana" Retortillo for a couple of decades? That's why I sold up here a few weeks back.
I hope I'm wrong, and GLA.

Hi Barna!
Avesoro (AVO) as a potential JV partner for Dugbe crossed my mind as well. I've even wondered if Avesoro might try for a full takeover of Hummingbird - they're looking for a couple of extra West African gold mines to add to the three they have now (1 in Liberia, 2 in Burkino Faso), and they seem to have access to ample finance on easy terms.
But, given all the circumstantial evidence in favour, I'm still going for Endeavour.
Who knows, maybe we'll even get an RNS before tomorrow's AGM revealing something!

6% copper equivalent at BP really is a superb grade. People mine less than 1% copper and still make money from it!

Hi Frank!
I think that you're right, and that we do have a single background buyer who is willing to buy up all the shares they can at around 30p. It's been like this for weeks; some days at low volume, some days at very high volume. IMO, the stake being built up in this way must be pretty substantial by now; I'd think 5% at a minimum, and probably more. (And, of course, we won't receive a TR-1 holdings RNS until this process is complete, no matter what AIM rules say).
But there's more to it than that, I think.
Firstly, the company is clearly co-operating with this process by its refusal to release positive RNS worthy news (e.g. Liberian MDA, production news, start of drilling, etc.) or to engage in any form of publicity.
Secondly, it's evident that moves to progress / finance Dugbe are underway.
So, I think what we have here is news blackout whilst advanced negotiations are in progress. My guess is that Endeavour(?) are going to JV with Hummingbird over Dugbe, and that they are also taking a decent-sized strategic stake in Hummingbird. This stake-building could also be the prelude to a full takeover bid (either now or later).
Anyway, as you say, all we can do as shareholders is to wait until the curtain is drawn back and all is revealed. It can't be long now.

I realise that most investors here will still be digesting Friday's midday RNS concerning the near completion of the process of issuing the mining licence for BP in Romania - and it is truly wonderful news for Vast. BP alone is worth far more than the company's current heavily-depressed market cap.
But the reopening of the Eureka gold mine in Zimbabwe (by the President, no less) is also a very significant step forward for Vast (see links to newspaper articles below). A 23.75% share of 70,000 ounces of (low-cost) gold per year is a lot of money - roughly about $11m in free cash flow. Hopefully, there will be an RNS about this news later today!