Member Info for TrekMadone

I just sold the lot, 10k, 20k then 30k in three transactions.

The offer is a tad over 60p which typically the SP on AIM usually visits the placing price. The warrants are at 78p which is well below the last placing at 88p.

They have burnt the other 7m they took on top of the 10m at the last placing.

As I said the head grades are also disappointing. There will likely be an upgrade but I doubt to anywhere near the 8-9gpt the market hoped for at least just yet.

I have never rated this BoD but thought now it was impossible to make a hash of it from this position!

I still believe in the asset and think it will now be a takeover target.

Decided to sit on the sidelines incase TSX hammers it!

I can always average back in but won’t buy now above 60p.

I worked my socks off here escaping with a 10% loss from an average of well over £1!

If my average was in the 50’s, like some here, I would ride it out.

Just my personal view, cash is king, if it goes lower ok I may have a few and if it takes off; well. Wish you all the best!

Good luck with your investments

Trek

In case missed!

https://www.londonstockexchange.com/news-article/DCTA/milan-design-week-showcases-new-g-coatings/15126572

Trek

Dummy trades this morning. Can sell 500k shares but only buy £100! Then NT.

Yet the SP is down!

I think they are just happy to hold it at this level to tempt sellers.

There will likely be obvious resistance at 2.3 unless of course results take over.

No point in selling now imo as the worst of the pain looks to be over. We’re more likely to go up than down from 1.7, that’s how the MM is positioned.

Usual caveats

Trek

Magic,

See footnote....

“Certain reported production and grades for August have not yet been reconciled and may be adjusted in future public disclosure.”

Trek

Just back and noticed lse RNS feed not working. You can read it here.

https://www.londonstockexchange.com/news-article/PUR/puregold-completes-mill-upgrade-achieves-1-000tpd/15125042

Trek

Well I guess with 300 employees and the trommel being completed ahead of schedule that may account for some of the volume uptick.

6.5\5.6 gpt production is disappointing though, but meterage and tonnage is good.

August grades may get a retrospective lift and we are getting higher grades deeper in.

Still way undervalued imo so happy to hold at least until mineral resource upgrade end of year. Will have a better idea then.

Sharetalk

“Sticking with the mining theme, and Pure Gold Mining (PGM) seemed to join in the sector fun, with a 12% share price rise. Here the shares have been in rebound mode, responding belatedly to the update last month in which it said daily throughput averaged 703 tpd for July , a 38% improvement compared to the second-quarter average. The strong performance was attributed to significantly improved stope availability and inventory as a result of investments in development and infill drilling made in the first six months of the year. As far as guidance was concerned for the Ontario, Canada focused group, Gold production for H2 2021 is expected to be in the range of 27 – 32 koz Au with grades and throughputs increasing steadily toward the end of the year.”

Trek

Well I am pleasantly surprised to get a prompt reply...

“Dear Trek,

Thank you for contacting us. A number of institutions did invest in the March financing earlier this year, including Hargreaves Hale (Marlborough Nano-Cap Growth Fund), Tosca Fund, Premier Miton and Edale. However, their shares are all held through nominees as well, along with most of our retail shareholders. Hence the dominance of nominees on the share register.

We are still quite small when it comes to US institutional investors, so we expect the ADR Program to initially bring in US retail investors. However, we will promote it to US institutions as best we can.

Kind regards

.....

Trek

Don’t believe the SP on google. I tried to buy at the close and it was 74.99!

Canada and US markets closed today. London has no idea how to price PUR when TSX is closed so they push the spread out or make it NT only.

Trek

Agree but it’s not worrying. This is the first full week back off ‘normal’ holidays. I think we will get some news by the end of this week or defo next week.

I wouldn’t be surprised to see the SP tick up in advance as a few 10-20% traders surf the RNS’s.

Trek

Nearly there, £500m mcap.

We should start seeing some institutional interest once we get through £3.

Usual caveats

Trek

Good point DHBM...

“Hi,

Congratulations on the excellent drilling results in the last RNS.

I am a private investor in PXC and note that the register is dominated by nominee accounts. I am aware that the ADR program starts this month. Are there any other plans to attract more institutional investors and is there a level of confidence that this will be achieved.

Kindest Regards”

I will post any appropriate reply, other than names, as it won’t be market sensitive.

Trek

Can’t buy or sell a bean. Books are closed again!

Indicative buy price is 67p. I doubt you will get that now.

Trek

But still dominated by nominee accounts. She needs to get a wiggle on!

Trek

Yep I was in top 10 when I posted more on the likes of DDDD, GGP, AVCT etc!

The stocks I now post on don’t have the herds......yet! Lol!

Trek

Shareseeker,

Interesting observation around seeing ‘ii’s’ onboard. I would like to see he BoD do a capital markets day in the US. One to sell the ADR’s but also to reach out to serious investors and debt providers. This is the sort of thing BNYM can organise.

One weakness, IMO, is that the company, given how close it is to building a mine, lacks some serious ‘ii’ holdings. There’s an appetite. They have set up the necessary ESG leadership.

Now is the time for the brokers/Banks to set this up imo.

Trek

Ps. I was running out of time but I posted quite a bit on PUR. I even sold some there at 66p and bought back at 63p. There aren’t many posts on that BB so you can see.

Likewise I have built a significant position in PXC recently. I have sold some down but I have also been feeding cash into there to lower my average. I posted my view on the finances there.

It is one of those stocks, like ECR, where I have conviction and I will back that conviction. The SP will imo soon respond to the upside.

Gotta be patient as well.

Good luck with your investments

Trek

Hi Bottmzup,

Firstly I am extremely bullish on ECR and always keep my core holding.

I do have a reasonable understanding of charts but I don’t use them exclusively for decision making. I am often surprised that when you watch the chartist like Zak. Nearly all their share pics are going up or about to go up!

I would love to give you a eureka explanation for my trades but I am afraid I just spotted a trend that often repeats over the summer and so cautiously traded down selling and rebuying at different levels. It has been my experience that stocks go lower than you thought possible and likewise overrun the upside!

I have a good handle on the warrants here as does cashking and an understanding of the resistance points we may see on the way back up. I will use that data to my advantage.

I have acted on my interpretation of a trend both here and on a few other stocks. Bar a couple I keep a core holding when trading. GDR and ORPH I recently sold completely. GDR evens (watch it pop next week now) and ORPH with around 200% gain to move funds into what I think is a better and safer momentum play.

This is because GDR are running on fumes but a deal could be transformational. However, it’s now too risky. I was pleased to get out I think with an £80 loss. ORPH is recovering but (chartwise) it will struggle to get through 28 then 30p. Selling at 26p with a sub 9p average was a good run.

There is an old saying to ride the winners. I have taken money out of a few investments. Some I ‘loved’ like AVCT which I had been in since sub 60p and taken several bags out and backed a new momentum play that is TGA. TGA is probably the most miss priced income stock I have seen. I now have a significant position and averaged up about 8 times!

Parking money in a rising stock means that I have options. If it spikes I can take some cash out and buy back in later or if I spot another opportunity I can take some cash out.

I recently bought LBE (I posted I bought there). There was a stonking RNS but the SP didn’t move. It then did 10% on Friday. It will, I think, have a little run next week. I will sell and put the money back into TGA. I have no interest in LBE I only did 1 hour research. It will do well but I just want 20% on a smallish trade to feed back into my longer term plays like ECR.

These are cross trades, not sure how else I can explain it.

The cash from ECR may go elsewhere or back into ECR next week. Or even another LBE! There is no chart for that!

I recently took a significant amount out to get the kids on the housing ladder. Now I have the challenge of recovering it!

I wouldn’t recommend trading to anyone. I only ended up here at this point in time it’s not a long term plan. Trades do go against you! I also only pay £3.99 a trade and am reducing my PF of 22 stocks at the same time to free up more cash. Kids!

Good luck with your investments

Usual caveats,

Trek

AG,

Thank you. And likewise yourself. I have the utmost respect for posters that can be constructively critical and adapt their decisions according to data and call it as they see it. You, Paul, TS, Gino, cash, LO and more are good voices of reason on this B B. Having so many knowledgeable pragmatic posters is representative of the opportunity here and we all have a common goal.

Trek

FWIW, I have sold 500k 4x now and bought back lower each time and then reinvested thereby reducing my average significantly. I did the same over at PUR and a couple others and posted as such. However, my last sell was at 1.8 something following a 1.58 buy. I thought it would tail off back below 1.7 so I got that one wrong and now have cash.

All said I don’t mind buying them back and losing on 1 trade from 4. I am just waiting for now.

Throughout I have kept my core holding. So I am not ’locked out’ should we get some ‘milestone’ news. If I have to pay more so be it. The news should mean the stock is worth more.

Just because I have traded a few has no impact on my outlook for the company. That makes trading easier as if I am the wrong side I just buy back or hold.

Over the last few months with so many SP’s drifting with obvious decline trends, ‘leap frog’ trading has enabled me to throw off cash and keep the same number of shares or increase my holdings. In the case of PUR I have traded down from over £1 to a tad over 70p and now have more stock and will probably be in the money on Monday when it bounces 15% ish.

There are many different ways to play it. This is a volatile place to invest one where ‘hold and hug’ can work but not always especially with the dilutive nature of some holdings.

I find taking profits occasionally and using that money to work on one’s average or diversify helps one survive. Not for all, some just tick along fine over the year like YOU or NFC where you just buy and forget.

Coming to terms with the fact that the SP can often have no relationship to the assets takes some getting used to. Look at EUA this week. I don’t hold there but it’s an extreme example.

I no longer have investments outside the small cap space so I have to work hard to make this work but I am expecting a very exciting autumn/winter recovery.

Usual caveats

Trek