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Alecto Energy Share Discussion Threads
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|Well another odd bod here to meet me. Come on Bot you know I dumped this pig at a good profit I even took your post into consideration.
It seems to me that these AIM Dawgs just can't play it straight. You even posted here that the CEO was not on the level.
I took your advise and got out at .011 now life is great as the pup sits well below that and from what I can see will fall further much further. Are you in this as you seem to love losers lolololololololol|
|Daniel this seems to be following the familiar trend of you operating a childish vendetta against companies you lose money in.
Why not just wait till you have some information that may be of benefit rather than just a stream of drivel. You may actually learn something then.|
|Lololoololo is this dawg still kicking without any Goodall financing. Is the fall today a run down sounds like an old movie serial or soap lololololol|
|LOLOLOLOLOLOLOLOLOLOLOL Santa's sack is empty|
|fund55 - is that a hunch or perhaps you have aa good reason for that? Of course I do hope you are right.|
|Expecting news this week .|
|Yes assuming funding arrives before Xmas this looks like a very decent RNS although mostly longterm so we will need some dosh soon enough.|
|Nice update this morning:
|So glad to have dumped this dawgie and get out in profit. Got to give it to Kimboy he calLed it right and Insaw the light after reading his posts and got out in time.
Therefore I am honor bound to say THANK YOU KIMBOY YOUR WORDS OF WISDOM MADE ME AND SAVED ME A SMALL FORTUNE!
Others would do well to listen to you.|
|Paternoster issued a quarterly update this morning, their take on ALO remains positive:-
Alecto Minerals plc
The company signed a non-binding letter of intent with Ashanti Gold Corp ("Ashanti"), a Toronto Venture Exchange listed public company, under which Ashanti would earn an interest in the Company's Kossanto East Gold Project in western Mali, which has a JORC-Code compliant mineral resource estimate of 247,000 oz Au and significant further upside potential. It also carried out a placing to raise GBP600,000 before expenses to provide the company with additional working capital to fund its pre-development activities on the ground in Zambia. The company continues to make progress towards its goal of bringing the 400,000 tonnes per annum open-pit Matala Gold Project in south-central Zambia into low-cost production in the near to mid-term.|
|Looking a little better CPAP MAN|
|Another placing coming. Sorry folks. Hence rise today, running out of cash again and, more obviously, second-most viewed on HL today (as it was for the few days prior to the previous placing).
Obviously hope I'm wrong, but I'm not.
So I'm out. Good luck.|
|Very good afternoon for ALO +22% so far oilbuy!?!?!|
|Time will tell, Kimboy, I'm not trying to convince you or anyone else just putting an opinion. Incidentally sorry my decimals are out, it should read 0.08 not 0.8:)
Re whether Paternoster and the CEO taking shares at the 0.08 price (about £450k worth for Paternoster) I'd say it's very relevant, Paternoster are in the business of investing in resources, so have some experience in valuing and certainly didn't invest that amount of money if they thought a killing would only come at the end for cronies.
Anyway in or out, good luck if you're waiting till the end, I agree it can work that way sometimes. Have a good weekend one and all.|
|Well lets just think about working capital. If they are producing 40k ozs pa then that is a turnover of about £40m pa. How long is the gap between starting to dig the ore production and receiving payment ?
If it is 4 months then ALO need about £13m in working capital just for this. Then there is capital during construction phase, commissioning etc. I would have thought £15m working capital was conservative.
On the capex I think it unlikely that the vendor financing will cover 100% of the costs. That is the implication of the feasibility study on my reading of it.
On Paternoster and whoever taking shares is irrelevant. They all know when the final dilution comes they are going to get all their money back, as long as it goes ahead.|
|I know the system, Kimboy, I don't disagree with you generally I hate spiv placings. I've seen Beaufort and their like do it time and again, lots of co's KIBO and EUA to name a couple of recent ones, both with ok projects but regularly stuffed with obscene placings. But neither of them having capex finalised...that's the difference.
Once capex is confirmed here then the ball game's different. The prospect will be significantly lower risk and I don't think they'll need £15m but whatever they do need is already costed in the NPV. They might want a bit extra while they're at it and that's fine by me.
No need for disproportionate dilution at all but management have to be firm. I remember MJ bought into the last but one placing at 0.8p and Paternoster converted a sizeable loan note at that price too, they thought it was good value but it will be even better with vendor finance in place. It is seriously undervalued currently imo.|
|If we ignore the working capital they will need (£15+m?) and the cut the various financiers and advisors will want of Matala (%?) and just look at the numbers.
Regarding funds the current m/cap is £3m and Matala NPV is near £30m after capex.
The current market cap is £3m with 5.2bn shares issued. It could, if the mine gets going and all the financing goes ahead, be worth £15m with 100bn shares in issue. Does that make it a good investment?
There is no good reason to invest till it is fully funded. You can try going in and out of the shres and riding sentiment but that is a guessing game.
The advantage the placees have over ordinary punters is that, though they have lost money on the last placing and couldn't leak them on to the market above the placing price, they have their feet under the table. They will be amongst the favoured few when the last placing comes, as no doubt will be management.
The role of the ordinary punter in all this is to get very excited about potential profits and finance them until they actually start making them, and then get very little reward.|
|Company issued the rns today as many pi's were contacting them for updates etc.|
|I thought it was an OK update. However the problem remains that the share price has nothing to do with how good the mining prospects are and everything to do with the actual financing arrangements.
Noone is going to take the risk and give ALO the upside and the company are elusive about how much they have to raise other than capex. I still fail to see why anyone would want to leave anything on the table for present punters.
I still believe that there will eventually be a highly dilutory cut price fund raising to finance the deal and it will be spread amongst the favoured few.
The time to invest in this is when it is fully financed - as long as the Chinese aren't the majority shareholder.|
|I think they were just filling detail and confirming still best option, stuff they couldn't say in real time especially with politicos and local institutions involved. It's undoubtedly been very difficult for them but the fact that they have revealed a bit of detail suggests to me it's looking more solid.
Interesting reference to other options:-
" We are in the process of transforming Alecto on a number of fronts, and we intend to be far more than simply a small gold producer in one country. Our technical teams have been actively engaged in our joint venture opportunities, as well as reviewing and assisting with other potential business development activities, throughout the last few months. We look forward to providing more details on these activities in due course."
Nothing wrong with a pinch of cynicism though, it's AIM at the end of the day.|
|Cynical view maybe, but why issue the update now. Sp has slid again to an ever smaller fraction of a p, and the company bank account must be running dry. By the sounds of it they were hoping the financing would have been sorted out by now which would have lifted the share price and enabled a placing. Now all they can do is tell a story of what might have been. How I would love to be proved wrong.|
|Broker note on ALO from Beaufort Securities....
Alecto Minerals (ALO.L, 0.06p) – Speculative Buy
Alecto has published an update on the Matala financing situation. By way of background, Alecto has been in advanced discussions since late 1Q with a Chinese group for vendor financing of its flagship gold mine project in Zambia. However, the process has taken longer to complete, partly due to a new Zambian president and partly due to the slow and cautious investing process of the Chinese side. Today's update says that a key step has been achieved in that process, with the Zambian government allowing the lender security over the Matala asset, which makes risk insurance available. The next step involves finding a local "institution" to on-lend the Chinese funds (the institution needs to be guaranteed -presumably to protect against the funds disappearing). Once step 2 is in place Alecto management expect to close financing and break ground in 1Q17.
Our view: Management and investors are having to remain patient here. While some onlookers may question whether the Chinese funding will ever arrive, these are real entities spending time and money on this process. Note also that management and its partners have experience successfully sourcing mine finance from China. Although not guaranteed, we believe the Chinese funding will come through.
Beaufort Securities acts as corporate broker to Alecto Minerals plc|
|Market seems happy with that RNS|