Member Info for Tornadotony

If a minority shareholder was truly wanting to deliver change, they would have organised a work shop event over two days somwher in the middle of England and any Nanoco shareholder could attend for a fee covering an overnight hotel cost and a contribution to the venue facility. They would have various themes being discussed about the future and how best Samsung monies could be redistributed. Instead we got a more legalised route that was nothing more than a poker bluff and lost quite a bit of credibility.

We now have another approach through a General meeting which is not the best venue to conduct anything terribly useful for the average private investor.

I also feel the timing was poor. If a get together was had earlier in June and Tariq had his spiel followed by 45 minutes of intense QA also in the programme meeting we would have learned a lot more and had a role in adapting or changing it. All parties would have a better idea of what kind of future for the company appears desirable. It would be two to three months after that meeting with major contributors having a chance to respond to a draft summary of the event that gave way to corrective editing to yield a powerful policy/document paper would emerge with its recommendations of change. It would be the combined image of many contributors giving their image that yields a completed puzzle of an ornate futuristic picture. That image would not have Tariq's direct ownership as it would have been modified in a far more powerful way it would be a builders document, it would have priorities and a structure. Nanoco would have a more diligent mandate of change to respond to. Instead we have a rather amateur attempt of what many feel is self serving and it is no better then some of the criticism put t the door by some investors to the existing board membership.

Tariq may understand litigation aspects and has certain strengths but what he needed was a policy and change expert and neither were around to help him do that job.

Follows on from a point made by Sotolo earlier as to why things may be changing.

Courtesy of gold eagle which do scribe some good articles occasionally.

https://www.gold-eagle.com/article/despite-declining-price-gold-strengthening

In my own opinion, so many are on the other side of the boat trying to short gold when sentiment has collapsed. I still think Sovereign debt issues really piling up in a bad way if central banks keep firing up interest rates. There is huge problems in both USA and UK economies and both are suffering with Main street recession. Wall street and central banks are in another universe. The correct policy on rates is to go flat and re-examine the fiscal side are doing and calibrate the damage being done in the wider economy as a result of it and that is a difficult discussion to have between them. I question the point of higher interest rates when governments print money for whatever they want to kingdom come which is mainly to serve their pet interests.

Sotolo,

I think Gold gets a six week bounce and then drops back. Rates unlikely to go up in August and for many central banks are not going up in July either. The picture on rates and inflation will be clear by September and both probably go up. We shall see if my call is right. There is less risk shorting gold if the price was over $2000 an ounce. Tony

CEY closed at 91.15 on Friday and i suspect with USA off line until they open this afternoon is probably why it drifted back. Production is now 22% higher if following the company guidance over H1. Current futures price matches the average of H1. Centamin average H1 price for many months was holding 103p. In theory if the gold price holds we should see Centamin near 120p. The stock is undervalued because of hedge funds shorting GDX ETFs where volume is light. We just need the herd to start buying heavy again and have any short positions toasted.

I like a number of different time charts now on Shanta. The daily is looking strong. Awaiting USA open.

The more I think of the hopeless situation bankers have delivered with the economy along with political elite, the more I am convinced the only sensible asset and stocks associated with it is gold.

The news is this morning that a Ukraine nuclear reactor has been rigged with explosives by the Russians. The disaster that would follow would impact on the entire globe.

Hi Eloro,

FSDEA still take away 25% of the Capex risk versus 25% of the benefit. I suspect discussions with the banks will change things again. I would expect FSDEA to be invited along into the negotiations to see how the plan can operate not in stages as well as staged. The banks are likely to put an offer on the table with lots of conditions, but I suspect they will want a strategic funder like a Glencore being a 25% partner. The advantage of the strategic going last is they will see the terms applicable and agreed by everyone else in principle. Furthermore everything is out there for negotiations at this time. If two strategic partners got involved it would be 12.5% each and half the risk for both of them.

What is frustrating is that a low share price yield low equity raise from the company. If news of funding being put together rallied the share to 70p then the company could raise 500M shares say and raise $350M. Various other institutions would then be helping finance Saltend as well as the mine. HZM share price collapsed just like this one but they managed to get all the packages together. The turning point was the offering from the banks and the share price tripled. The reason I have not totally given up on PRE is there is still a chance that it can be pulled off.

Tony

The sell volumes driving the stock down have been tiny. USA market was shut yesterday and was non-active on Monday.

The company have a backer that is financing over 25% of all the mine construction Capex. Mumbles was correct on what he reported back from the AGM. The vast majority of free float holders are holding stock. It only takes some to start buying more and the price could recover.

Hogsnipe,

The next UK Minister who comes out with a comment that industry and the market will solve all the problems, needs to read what is written in plain English from the Chinese Government. It is obvious to anyone with functional brain cells that Governments must get involved in supporting long term essential supply chains. If Biden with his limitations can do it, I wonder why the intellect does not exist in Downing Street for something similar. The Angolans can smell the coffee where as in London it is a case of all holding hands to contact the living. Tony

Looks like Shanta is about to lift off.

SP

Rainbow is in the ISA in my case and Pensana in a trading account hedged by other stock. Have more rainbow then Pensana. Tony

So glad I added more when it was low. Just behind HZM in my portfolio.

Just to remind everybody know where the green filter button is above to remove messages that are repetitive whining.

AS I believe someone who bought a million shares last week has taken it off again. This could bounce back again tomorrow when New York is open. The Angola Government has a $250M budget for mine development and clearly 1/3 is being lined up for Pensana if the banks mandate comes together and they agree terms. It is likely that any second cornerstone funder might want to jump in the project as it would complete the de-risk. In USA Biden is de-risking projects and what Angola is doing is de-risking their Pensana project. If USA links up with the mine development they extend their supply chains. At the same time Badenoch is a bind with EU. The UK Government has lost the argument of leavings things to the market as China is restricting rare earths exports that go into chips which happened yesterday. We have an abnormal market and the UK Government is under huge pressure to have a high range of materials made in this country to be exported as product into EU. Angola has demonstrated what they are doing and we await to see if UK Government cares a jot about growth and supply chain security. In essence things could come together quickly if the right people speak to the Prime Minister is my opinion. I am retaining the remainder of my core Pensana position as I have the investment now hedged with other stock positions in the portfolio that are seriously undervalued at this time.

Fully in on what I wanted to buy. Now signing off under investor mode for awhile. Some interesting articles in gold eagle news this morning The one I found interesting is why the on-going recession is not in the stats. It was absolutely spot on with what is going on.

Https://www.londonstockexchange.com/news-article/SHG/shanta-gold-announces-singida-five-year-plan/16023397

A wonderful start to a Monday morning. 90,000 plus 2023 production. Costs are well under control.

Https://mining.einnews.com/pr_news/641978729/global-mining-investors-to-meet-in-luanda-for-the-2nd-edition-of-the-angolan-mining-conference-exhibition-2023-amc

Shanta annual performance with junior gold miners UCITS ETF A was a close match throughout most of this year. A perfect match would have Shanta in the 9.4p to 9.7p range. Up until the Odey issue Shanta was matching the performance of Centamin. If it were not for the Odey impact the share would be trading around 10.3p if it were still pegging with Centamin.

The sentiment indicator for junior miners and gold is rock bottom. Various technical indicators have the whole sector crashed out. Can it get lower yes as the stock market can make anybody look like a proverbial ass. However, at some point the sell side gets exhausted and the cure for low prices gets resolved as they go up higher. Shanta drops in part whenever somebody with large funds can short the pants of junior gold miner ETFs. Eventually, the ETFs rally along with gold. Gold in UK currency hit its lowest price of the year this weekend. The UK pound has held up well of late, but God knows why. When I see staff in major chain food shops turning away people trying to defraud them in the queue in front of me and the person at the till tells me that a record number of local businesses are now going bust, then I suspect our currency is going down. Shanta's share price in UK currency may therefore soon go up.

At the moment Shanta has not been re-rated. At some point it may well happen and I would not lose heart. If it was easy, everyone would be doing what we do and they don't. You are amongst the few who manage your money and make your own brave choices. Buying low is not easy to do, but it is sure better than buying when the price is sky high.

Sotolo

Yes H2 is from this Saturday and last November when the share price was 87p, the AISC target was 1450 per ounce so incorporated a lot of inflation and a lot of Capex spend and producing less ounces of gold from what is being produced this year. Centamin also introduced a lot of innovations that have helped reduce costs.

Steve

I am now on hold with my Centamin. I still have quite a lot of cash in the portfolio although some was not intended for Centamin but if I reallocate and go overweight on my plan than I can see how this goes. The pain I have seen on my Shanta is incredible as well. It is a good company on high grade resources in Kenya and two functional mines in tanzania of which one is brand new. Both Centamin and Shanta have significant production growth in H2. Both are now looking seriously undervalued. It is annoying see AI companies get 200 plus PE rate valuations when gold miners get under 8. Good luck with the trading and yes let us know when you have piled in again. Tony

Shanta and Centamin have very similar charts since February 2023. Without Odey we may well have been at the current SP. Both companies are on various target takeover lists in the sector. Centamin declared 1.8M reserve ounces worth 6p per share and still retreated and has the worse chart technicals since 2014-2015.