Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Now the dust has settled a little. What has happened over the last few days?
Are the options-
A few PIs have made a trading profit and taken their money off the table?
The finance isn't going to be for the full $80m and someone in the know has been shorting?
Lots of people are nervous as the time is short? There's nothing wrong with being risk adverse and selling. Even if you buy back at a higher price selling now might be the right decision.
People on this and / or other boards have ramped enough people into buying now sell and laugh as they count their profits?
The MMs have triggered a fall to hoover up stock?
I'm sure there's a million possible reasons. Those that have bought today are they a) brave? b)stupid? c) going to make a stonking profit? d) going to lose all their money come Friday?
Now the dust has settled a little. What has happened over the last few days?
Are the options-
A few PIs have made a trading profit and taken their money off the table?
The finance isn't going to be for the full $80m and someone in the know has been shorting?
Lots of people are nervous as the time is short? There's nothing wrong with being risk adverse and selling. Even if you buy back at a higher price selling now might be the right decision.
People on this and / or other boards have ramped enough people into buying now sell and laugh as they count their profits?
The MMs have triggered a fall to hoover up stock?
I'm sure there's a million possible reasons. Those that have bought today are they a) brave? b)stupid? c) going to make a stonking profit? d) going to lose all their money come Friday?
I was first trade of the day today. I'd given myself a hard time for not buying more during the day yesterday. Fortunately got over that and can already sell at a profit so relieved.
All means nothing until the terms of any financing are agreed and released. Could be any price 9higher or lower) so a gamble but one I'm comfortable with.
I agree that a dividend is long overdue. Even 0.9p would give a 1% yield and cost less than £2m. This might put the share on institutional investors radars. If this mine was in almost any other country than China the SP would be a lot north of £2.40.
The zinc price is very low at the minute but has been recovering - the last two days particularly.
Basic gross revenues:-
Q2 2023: $35.6
Q1 2023: $38.6
Q2 2022: $46.6
Still good revenue but an explanation of the drop in gold recoveries would have been nice.
It'll be very interesting what the 30th June bank balance was and what the BoD have decided to do with it
Very low zinc price will severely handicap the results.
Today's AGM is in Bermuda again. Ok, the company is listed there but it's a UK listed company. Could have a zoom link if the BoD really cared for s/holder interaction.
I appreciate that but of the gross (well after smelter charges) revenues for the quarter reported today:-
Zinc $28.3m
Gold $8.5m
Silver $ 1.2m
Lead $0.5m
A $100 variation on gold is possible to +/-- $0.5m revenue
A $1,000 variation on zinc is possible to +/- $14m revenue
FWIW (virtually nothing) I believe £1.50 will be seen again when three dividends have been received that signal 6p + a year will be consistently paid. I think a 4% yield is necessary.
I have no idea but I suspect there's a few paid out options being sold. Having said that it's very low turnover so could just be people seeing what they believe to be a better opportunity and GFM always being jam tomorrow. The zinc price below $3,000 won't help either. We need to see a return to shareholders in the form of a dividend for the price to go substantially higher.