Member Info for TigerByTheTail

Yep, the Eureka gold mine purchase in Zimbabwe was an extraordinarily good deal for Vast, but the market has simply ignored it. In terms of short term share price movement, I think the only thing investors want to hear about is the Baita Plai licence. What to do? I guess, buy as cheaply as possible whilst the market's current down mood lasts. It will change. But when? Who knows?

I see that Tharisa have picked up a 90% stake in a very good Great Dyke chrome resource in the Great Zimbabwean Fire Sale of Mining Assets this morning. Hopefully, Vast will also be in a position to announce another new acquisition soon - either a gold / polymetallic mine or a diamond operation. I'm sure the current fire sale won't last long, no more than a few more weeks, so time is of the essence.

Well, if the MMs are dropping the SP for the sake of a big buyer, I'm happy to piggyback along. Wanted 33.5p entry price, got 33.9p - that's close enough! All in all, I can't help thinking that this is like buying 50p coins for 33p each down the market.

Platinum demand picture improving slightly... http://www.kitco.com/news/2018-05-14/WPIC-Global-Platinum-Surplus-To-Shrink-To-180-000-Oz-In-2018.html

My best guess is that half the trades are sells and half are buys - I don't think the market-makers are going either long or short here, they're just making money on the spread. What I don't understand is why the number of large trades has exploded over the last three days of trading? Any ideas? It's like a huge seller and a huge buyer are fighting a battle for dominance.

IMO, Rainbow will indeed need to raise equity money to fund the announced second phase of drilling (the JORC), and perhaps also to help fund the ongoing production ramp up. I think they'll wait until after the coming referendum in Burundi (17th May?), and then go to the market. (Rainbow will have no problems getting the money, of course. Probably in minutes again, and from major institutions. But I do think it will be at a price of 18p - 19p.)

6 million share trade (a sell at 32p) just popped up on the board. I assume that a matching buy will appear shortly. Is this the end of Pageant? Or something else?

I'd agree that BPPM licence is more a question of "if" than "when", but I can't blame any seller of being fed up of waiting on the news! Note how in his recent interview AP said he was flying out to Zimbabwe next week or the week after, even though he was last there only a week ago. Also, note how quickly he shut down a question about the Marange diamonds in the conference call. The Zimbabwe government has a big political incentive to resolve this issue BEFORE the upcoming elections, to prove that things really have changed now Mugabe has gone, and that the country really is "open for business". So, taken all in all, I think the diamonds are "in play". And I think our big buyer knows that. All, IMO and highly speculative!

My read on yesterday afternoon's massive trades is that about 1% of the company changed hands between a very willing buyer and a very willing seller. My hunch is that the seller was fed up of waiting on the BP licence in Romania, and that the buyer is expecting big news from Zimbabwe in the next couple of weeks. But let's see if that's right.

Whatever it was that caused that strange spike at close yesterday, the SP has dropped back this morning...

Yes, very puzzling spike on tiny uncrossing trade. I'll be looking for an RNS at 7.00 am tomorrow morning!

The driver for an increase in SP could well be new deals in Zimbabwe. Note how AP was happy to talk about possible new deals for gold / polymetallic assets in Zimbabwe, but very quickly shut down any discussion of the Marange diamonds. IMO, the Zimbabwe government may well want to make a deal over Marange before the upcoming elections, so that they can demonstrate to the electorate that things really have changed with Mugabe's ousting. (And, no, I don't understand why the share price didn't respond already to the Eureka deal.)

So, 10,423 ounces of gold produced in April, Yanfolila's first month of commercial production. Mine clearly operating very well, company cash position very strong and growing stronger by the day, excellent management, financial fundamentals very attractive. Oh, and the market-makers have dropped the share price again. I know that no investment is completely without risk, but this has got to be about as good as it gets - a highly cash generative yet significantly undervalued company operating in a deeply undervalued sector. For me, that's a BUY.

Good article on the current general undervaluation of all gold miners: http://www.mining.com/web/gold-stock-upside-huge/ (If you plug Hummingbird's own figures into the article, you'll also realise that Hummingbird is cheap compared to other gold miners in general).

Hummingbird Resources (AIM: HUM), the African gold producer, is pleased to announce that an updated corporate presentation has been uploaded to the homepage of the Company's website, www.hummingbirdresources.co.uk. In addition to this, the Company is pleased to report that in April 10,423ozs of gold was poured at the Yanfolila Gold Mine. - The corporate presentation has been heavily revised to reflect the fact that Hummingbird is now in full commercial production. Presumably, it is the basis for Dan Betts's presentations to City institutions this week. - Gold production at mine obviously going very well.

Quarterlies more or less as flagged and expected - or perhaps a little better. But nothing earthshaking. Now, what set off the very strong buying on Friday? Because I don't think it was these results.

That is serious buying this afternoon. Leak? All will be revealed on Tuesday morning, methinks.

Who else thinks the seller is BMR, liquidating their holding here in order to raise funds to keep the lights on?

"If in doubt, buy the management" is the very best piece of stock market advice I know. Good management will make a success of an iffy project, bad management will blow even the best opportunity. (HUM, I think obviously, has a very strong management team).

Hi all! Lots of familiar names here, I see. Just made my first small purchase of Galileo stock. I'll be lurking in the shadows for a while, hoping to pick up some more on dips.