Member Info for TrekMadone

I have worked with (well attempted to!) utilise big data in a previous like. I know enough to know from the ‘syntax’ this is highly likely a political grab of a ‘buzz word’ without really understanding the detail. The endless complexities of big data which can render it useless without hugely complex algorithms and huge computing power to solve endless variable inputs!

Nope PB will not be attending with a Quantum Computer or an AI suite of T&T’s geography! Not for a while at least!

But the minister can milk the buzz word and be a visionary!

I’ll stop there!

Usual caveats

Trek

Grades aren’t the best but it’s a pathfinder drill. 979m targeting deep sulphides and the CU shows are disappointing. That’s been reiterated by the market but it’s the first deep poke from 4500m!

I noted the relatively high Ag across many holes and depths.

Looking forward to the extension drilling at white-knob. I get the feeling Ag could be a dominating there.

Again though we hit mine workings. Well that’s a pretty solid indicator of minerals but ffs! All this tech and we can’t avoid a corridor!

Don’t know if there is anyway of picking workings up on the next land mags due soon?

Still plenty to look forward to and a bit of proper digging in 22!

Usual caveats

Trek

This is nice..... today...

“GOLDMAN CUTS CONTOURGLOBAL PRICE TARGET TO 205 (215) PENCE - 'NEUTRAL'”

So we get a huge +£100k UT trade today and SP knocked down 4.2p! Just lol!

Firstly you can seldom buy any volume here without NT and it’s a FTSE250!

Mostly because of the corporate structure with the major holder. I am not a fan, but it’s how it is.

Whenever this dips below 190 I try and add. It’s an income play. +6.5% relatively low risk divi. Sound business model, throwing off cash and using cash accretively.

Also we have no lift following the increase in energy prices. A kw at point of sale is ‘same’ for any kw generated. It doesn’t matter where it comes from. It’s the profit margin that varies. So whilst coal is expensive and we only generate a small percentage of our energy pf from coal the KW is the same as from solar where we generate a lot of energy cheaply!

The impacts of lack of wind will be a factor but we don’t generate KW in UK!

We have a wide geographical presence and a diverse energy mix. Check out the company ppt.

As for as for SP trajectory. It’s pretty flat here and the majority shareholder probably rules out a t/o. Also gives stability and the market knows any cash call for acquisition can be readily financed if needed.

I am sure there would be many takers for our pf especially for our renewables but we are well defended.

This isn’t like MNG with a huge yield, relatively unknown bus plan and swimming with sharks!

Nope this is a boring steady eddy!

Buy as close to 190 as possible and take the quarterly divi. If you have to sell wait for the usual spike to 200’s ahead of next quarterly divi!

Usual caveats

Trek

Hi OaW,

Imo yes atm. If not they’d have curtailed the buy back.

SP slippage is because transformation is taking longer. Also all insurers have had a bit of a hit following cop26. Impact of global warming on weather events + covid concerns has been a drag.

DLG has a brand and cost savings opportunities. However, last trading update didn’t set the world alight growth wise. They are marking time so increase in profit is to come from efficiency. Back to transformation!

Chuck in that a few brokers have marked DLG down to hold and you get this opportunity.

I have been buying from 280.

Buys at 280, 270 and have order set at 260.

I wouldn’t rule out a bid. There is an appetite for consolidation following LV.

Also look at chart. Huge support at 250 and resistance around 350!

Buying now is about as good as it gets imo to lock in a decent income with capital upside.

From memory DLG have paid a divi for around 9 years. Also director buys at higher SP.

O/T if it’s income you want. Check out GLO diverged energy play, non uk. FT250 under the radar! Trades 185-220 range. 1/4 Divi 1.9x cover. You can grab 6.5% now. Also increases divi 10% pa. Was unaffected by covid. Not gonna double in SP but steady payer.

Usual caveats

Trek

Yep that’s really what this drill is leading to.

I also noted the tick up in buying yesterday. Something to watch out for!

Trek

Hi QD22,

“ And I hope HE1 was not too bad a ****. Hit! Dictation mode… :-)”

Thanks for the kind words. Hope you and others make a few bob. Re He1. I re-evaluated after they lost the drill string in the Karoo and sold the majority of shares. Made a six figure sum which was soon absorbed by one of the kids for a deposit for a house!

Still, I kept a few a He1 at 8p and bought some more following the drop at 7p just for the next ride!

Getting very interesting here. A close above 160 will indeed signal a long overdue breakout.

I still read all the RNS’s as I may buy back in at some point. I have a few large positions awaiting transformational news that I will sell some stock into to free up cash for some old favourites.

I managed to build a decent position in some divi stocks, mostly GLO to secure some much needed income as everything was in v high risk!

So hope to be back soon. Probably in the New Year.

Good luck with your investments

Trek

They will need less capital as they have 1.9m wars converting at $0.44 on the 21st Dec...

https://seekingalpha.com/article/4469912-pure-gold-mining-another-disappointing-quarter-in-q3

No advice intended but that was part of the reason for my exit. They need some decent head grades and expo upside pretty quickly. Hopefully more drill results soon...

Sorry jus5 looking in out of curiosity

Good luck with your investments

Trek

Nice simple article that explains short term headwinds for copper and long term outlook.

Markets look ahead though don’t we?

https://www.thearmchairtrader.com/copper-price-2022-forecast/

Volatility is increasing here up and down 3-4p regularly now. Expect to see more spikes up and down as shares go to sticky hands. That’s a consequence of having so few shares in circulation.

A decent update from the company will push this well north on volume.

I watch the trades to see if there are any selling patterns as we can’t tell with the holdings ‘hidden’ in nominee accounts. We seem to have held above 60 now which is great. 70 next or even straight to +80 with some news on sulphides!

Update tomorrow or Monday, I am hoping!

Usual caveats

Trek

Cash up debt down, ops ahead!

Boom!

Topping up!

Lol!

Trek

Company getting ready for an update imo. Look at the RNS tab. PXC release news every month. Incidentally last November was one of the few months where only 1 RNS was released.

Suggests to me there will be at least one update this month.

Trek

....That’s the quickest route to consolidating the empire now IMO.

4p would probably do it. More is a bonus.

As far as the corporate structure is concerned it’s pretty clean. We have cash and assets. 4p would also convert the July 3.75p warrants releasing 1.7m off the bid price.

The Shen one’s at 5p would then time out.

A cash and share offer could be considered as it would maintain investors interest inthe acreage.

I would prefer all cash though as then you can do what you want.

Get the Creswick results out and put us up for sale now. That imo would be quicker than recruiting a CEO and a CFO. Time is also an insidious burner of cash.

A JV could be more time consuming than a straight tot up.

We just need to get some ounces and put a sign up. That can be done by the existing BoD.

There would be plenty of takers imo especially if we landed the extra license although I think that is less likely without a sound corporate structure.

Nah..... bids start at 4p anything else is a bonus.

You get hot acreage in Victoria gold fields, 2 drills (one on way), posting machine/augur, drilling crew. Two top geo’s, some fieldies, licences, couple of country retreats. List goes on. Pretty attractive proposition imo.

Just my view.

Take the cash plenty of other opportunities out there or you could buy into the successful bidder assuming they are listed.

Usual caveats

Trek

I bailed awhile back and bought at 7.3p then again today at 10.4 and 10.6. I also grabbed CHF at @ tad over 6p! 45% up there in two weeks!

Sold PUR after a long term ‘relationship’!

Nice to recoup the losses quickly elsewhere!

Sometimes you just gotta sell a looser and ride a winner. Simple as.

And don’t think 11p is toppy. This has legs imo!

Usual caveats

Trek

You are spot in legal pointing out that the difference between the paid employees and Neds.

Anyways I grabbed a few at 1.4125. Sold PUR, ouch! Following the money here and will buy more if it drops.

This is seriously in hostile bid territory now. Drills and postcode. There’d be a few there sniffing our assets even a drilling contractor that could sell the rest on.

Let’s hope it doesn’t come to that but my point is the bounce off 1.3 suggests an asset basement.

I am now at 1.49! Not bad from well over 3p!

Usual caveats

Trek

Not really a like for like comparison...

They have other assets...

“Vancouver-based Thor has mineral properties in Nigeria, Senegal and Burkina Faso, including a 100% interest in the Segilola gold project located in Osun State of Nigeria and a 70% interest in Douta.”

https://www.proactiveinvestors.co.uk/companies/amp/news/966691

And i’d much rather be sat on a discounted asset in Canada. Our price will correct soon.

Trek

Bye guys. This has been a good BB.

I sold out today. Managed to trade down which helped significantly reduce my losses but still around a £3k hit.

I always had concerns that we were fighting the Nov warrants and recognised that I needed to be out before the 1.9m Dec 21st warrants come out.

Given that they significantly are in the money I wouldn’t be surprised to see them being sold which won’t help the SP.

Imo the BoD here have just not managed the team or the resources well and they have had a total disregard for shareholders with how they have traded their own stock and awarded themselves options for appalling performance.

I think Sprott and Ashanti, the ‘big backers’ are just locked in now.

Anyways I hope this gets bought out to end the death by a thousand cuts!

I called this one wrong, taken in by the BoD’s hype!

Never too old to learn!

Even if this now bounces 20%, which I hope it does, I won’t be back!

Plenty of opportunities elsewhere.

Good luck with your investments.

Trek

Hi mentalmax,

I agree with your comments... re board comms. My explanation was around where we are which I think we both agree.

What hasn’t helped today is WSBN’s RNS/rise (I hold there) as some folk may have taken money from here to invest there which may explain the early dip.

Both have excellent prospects but some folk like momentum.

With so many miners now picking back up it is making it more difficult for those that are being left behind. Adding to our problems.

Decent news next week could see a huge re-rate here. Hence even if folk are selling, imo I wouldn’t go all out.

Trek

Hi cs123

“ intermittent plans are better than a stonewall silence”. We have had an intermittent plan (as far as the directors are concerned) in the last RNS. The BoD is ‘in charge’.

This is part of the problem. The directors view may be different from the markets. They also have other info such as timing news after Craig’s, formalities and when they have sufficient news to release.

Luckily Rod and Adam are both accredited as geo’s to sign off an RNS.

This looks like it will drip until the next assays or appointments are made.

Hopefully that will be transformational news for us.

In the interim one could chance selling some to buy back lower or see if we test 1.3 and average down. Or just be patient as at some point we will get news.

Usual caveats

Trek

“I think we need to factor in the complete vacuum that CB might have left ”

That’s exactly where I am at Legal. I posted the same yesterday and the site did it’s thing then and my post disappeared so I couldn't be arsed!

Anyways...

Firstly we are looking for two execs. A CEO and a CFO! As Craig did both.

David Tang did a great job at non ferrous but he is not CEO. No ambitions to become one imo. We got that from the RNS.

Adam Jones, very popular but he is ‘engine room’. I wouldn’t want his nose off the gold tbh!

Trevor Davenport is Independent non exec. Decades of mining experience but not board material. I don’t for one minute mean age wise just my interpretation cv wise.

We are imo short on succession and it would take three to replace Craig. CEO, CFO and a COO but I do think Adam is ostensibly a COO as often the board would just go with what he says so just as well adorn him with the title! We also have Rodney, equally capable so no problem imo on ops.

Defo need a CFO as well as a CEO imo.

Sometimes that can work to your advantage. In the past when I have had management vacancies I have found that it has been more competitive when an applicant knows they can recruit another manager after them. Especially if they can go on to recruit a finance person.

ECR has so much potential and could tempt a CEO/CFO combo from elsewhere especially as they know they don’t have to come and raise cash!

Obviously both get interviewed etc or you take on the CEO and they select a CFO.

Well I guess that’s all conjecture for now.

I suspect the delays in further announcements are out of respect. Cause of death with one so young may be a contributory factor. So proceedings may have been delayed.

I wish the family and friends well.

I am sure news will follow and remember it may not have been ECR that led Colin here. It could have been something else that led Colin to ECR!

Usual caveats

Trek

Nick-Bris,

“Scott. I think the use of PB enables you to pay the same price as the institutions as part of the book building process. “

Yes you get the same price but NOT the same terms. Do you think City folk that are sat in their offices can sign of millions to invest in a high risk stock like GGP after a 4.44pm RNS?

Sorry that’s a rhetorical question. Of course not. They had the money together in advance. That’s what the house broker does. The PI does not get the same privilege!

This is why you get associated shorting. Those in the know know before. The MAR are a waste of space. I know from experience!

It’s not raising money that’s an issue. It’s why many companies list. It’s how it’s done!

It is loaded against the PI!

Most companies and regulators only pay ‘lip service’ to PI’s. It’s how it is.

There will be a completion RNS later today or by 0700 tomorrow. Like the insti’s all had time to get authority to buy a load of GGP stock. Yeah right!

The deal was done before the RNS. It usually is.

It’s not what is done, it’s how it’s done that is my issue and the role of the overpaid toothless complicit regulators!

Trek

Been telegraphed imo for the SP to have come down so far!

PrimaryBid is imo ‘PI lip service!’

I would hazard few PI’s have more than £250 in their current accounts that they can suddenly commit. Let alone already having a PrimaryBid account! I have an account so it’s not ‘sour grapes!’

The proper way is a Rights Issue. A fair share per share allocation with a window that allows PI’s to get funds together and take advantage on the same terms as the ii’s!!

A RI also enables shares to be bought in an ISA.

A PrimaryBid round does not!

So with the spreads we see here it’s another cost that favours the MM when it comes to next years bed and ISA!

All this does is hand more cheap shares to the insti’s via the accelerated bookbuild, a posh term to justify disenfranchisement of PI’s enabling institutions to then take up the allocation slack.

Many of the PI’s have done the hard yards supporting GGP!!

Shocking!!

Trek