Member Info for zugzwang

It would be nice to get a trading update like a proper company

It was Bob Morton buying some more

Looks like a rollover. It would be nice if we actually got some sort of trading update outlining how things are going, plans, expectations etc etc. In the absence of this it is not unreasonable for the market to assume the worst.

The interims should be good and with Kilimapesa optimised and the Ghana elution column completed the second half should be even better. I reckon results will see GDP through 10p.

Looks as though we may actually be in for some profits in the future, and some dilution. Just a pity that it is such an illiquid market and that there is no broker report to disentangle all the goings on. I suspect that EWG is quite cheap, but time will tell.

Nothing new in the report. Also I believe that 11p considerably underestimates the potential upside. I would want to see what is happening with this Ghana government contract before I sold.

Who said it would be 11p by Christmas?

The thing is that there are quite a few things to look at for growth. There is Kilimapesa, the stock dam and the elution column in Ghana which will be completed soon. Then there is potentially the biggest expansion of all the clean up of old mine workings in Ghana to clear up the mercury. Good positive news flow to come IMV

Last of the big spenders

I thought that this was just bumping along the bottom. If you take out D&A and the amount that interest will be reduced in H2/17 then it should at least be at breakeven. Marketing made a small loss and 2112 a profit which suggest Summitt made a loss. Marketing really has not fulfilled the original expectations. Seems to me that all remaining divisions are profitable, other than Newgate UK. It would help if they gave a breakdoiwn of profitability. I would expect for a �40m turnover to be making something like �2-3m profit pa. The fact they are not is a sharp contrast to their tremendously greedy 'incentive plan'.

Interims tomorrow presumably. At the finals they said trading was substantially ahead of 2016. Not sure if 'trading' means financials but we will see. Hopefully the results will be simpler to decypher.

If they have any sense they will be trying to sell every perpheral activity to chuck into the main pot.

https://www.booksandpublishing.com.au/articles/2017/09/07/95437/academy-of-the-humanities-communications-firm-to-deliver-arts-advocacy-program/

They would do well to sell all their peripherals to reduce the Mowana dilution

Is SECG a better bet than PTCM now?

There will be a quarterly update next week.

They are obviously trying to have a fundraising and the removal of pre emption rights on companies house would suggest it is imminent. The question for shareholders is of course the price at which a transaction happens. It won't be good though. The obvious thing is to sell assets. I know for a fact that another PLC would buy Matala and is awaiting developments as I have talked to the CEO. Presumably he is waiting to pick it up from an administrator now. IMV they should have had these contingency plans in place before they started on this escapade.

The loan that todays is replacing I think is found under payables in the AR as 'income received in advance'. They say that once the £3m equity is raised then the Morton loans interest will be reduced substantially. Don't really see why they should be any more than today's loan.

They could tell us what 'substantial' meant for a start. Even better tell us how it has affectted the bottom line.

If those numbers are right, and no idea if they are, then that implies they did at least £21.5m rev in H2/16. That would be just based on Newgate's numbers. That would be a good result, which makes me think we would have heard about it already if it were true.