Asa Resource Share Discussion Threads

[juju44] 23/10/2016 10:44

Well into oversold territory now . Should bottom out soon and then resume the up trend

[tidy 2] 22/10/2016 14:58

AISC $10000/tProfit margin with smelter. >$31m for just the Nickel. They also have >5m oz gold and producing+ASA Diamond mine +ASA Copper +ASA Agriculture. Mcap £37m

[tidy 2] 21/10/2016 09:38

Work is being done in the site

[gwr7] 21/10/2016 09:13

The Bindura price rise is welcome but I'm not getting carried away by it. While ASA was six bagging BIND flatlined at a historic low so it was due a catch up and if I could have invested on ZSE I would have done so as it was a no brainer. From memory, about two years ago Mwana's share of the BIND valuation in Zim accounted for most of Mwana's market cap on Aim. Currently it's below 40%. I don't expect the tail to be wagging the dog in this case. Anyway, the story in this link might be closer to the truth.
hxxp://www.newzimbabwe.com/business-31806-Zimbabweans+hide+in+equities+as+bond+looms/business.aspx

By the way, can anyone post a link to the historical chart for Bindura? I can't find it on that zse website which seems to me to have gone downhill.

[tidy 2] 20/10/2016 23:53

Bind.zw is likely rerating due to the strong nickel spot price. Consistently above 10 spot. From last update ASA NICKELAs was reported last week, Bindura Nickel Corporation continues its steady performance with AISC (C3) below $5,000/t for nickel-in-concentrate, ahead of earlier indications. The re-start of the smelter is progressing and is scheduled to come on stream in Q4 of our financial year ending 31(st) March 2017. The model for the re-start of the smelter is not dependent on third party toll feed and with nickel staying above $10,000/t, the financial dynamics are inline with BNC's overall mine expectations. Clearly an agreement with either a nickel or PGM producer will only enhance the economics of the smelter. Discussions with interested parties are ongoing and as the nickel price improves, it is expected that more nickel producers will return to the market; many are currently on care and maintenance because of the low nickel price. When the smelter is fully operational, our payability is expected to improve from the current 65% to circa 85% of the LME market spot price. Major works on the re-deepening project have been held back through cash constraints and manpower limitations. Our main priority is the smelter and once this is fully integrated, the re-deepening project will come back on to BNC's radar. The refinery is also being looked at and a feasibility study is underway and it remains our medium-term ambition to re-establish BNC as the only fully integrated nickel producer in Africa.

[tidy 2] 20/10/2016 23:04

Good question, I wonder. It could help Asa break out of this range maybe; although I'd expect it should shortly either way

[plasybryn] 20/10/2016 22:55

What is causing it to rise so strongly?

[tidy 2] 20/10/2016 22:27

Bind.zw has gained 20% in last two sessions(40%). Circa 75% is ASA's which equates to approx 40% of our current capIt's been the top riser two days running on zwhttp://www.zse.co.zw

[jailbird] 20/10/2016 19:37

Maybe you guys can elaborate about Bindura making huge gains.Otherwise it does not mean much to me

[juju44] 20/10/2016 19:16

Bindura is posting regular big gains but not being reflected here

[the don of dons] 20/10/2016 19:11

That volume column in July looks like the burj khalifa. Sticks out a mile.

[luckymouse] 20/10/2016 19:09

Currently at an est prior cons zone - buyzone at 2 held nicely - waiting for a shape break

[billthebank] 20/10/2016 18:15

New info Mreeasygoing?

[mreasygoing] 20/10/2016 18:07

Bindura on a flyer in Zimbabwe.

[postiga08] 20/10/2016 17:55

Ok, coz I emailed them and they said nothing changes regarding the number of shares I hold or the sp

[ukgross] 20/10/2016 10:52

agree - its an example
i see your point.
?

[tidy 2] 20/10/2016 10:00

I take it you are talking for example as oppose to specifically. The confusion in RNS relates to the equal number of shares pre and post sub-division. Reading my prior post explains this RNS specifically.

[ukgross] 20/10/2016 09:29

means stock split 10 existing = 1 new

so number of excisting shares 1,690.15m x 2,3 pence = marketcap now

after stock split, number of shares divided with 10 = new tecnical share pris 23 pence = same marketcap

[tidy 2] 19/10/2016 21:37

As mentioned it's a formality and this is why. Explained on lse It is purely formality and as per the AGM resolution which was passed by shareholdersAt the time the AGM resolutions were issued, ASA shares were less than 1p and had been for at least a year. Had an equity raise been required, it would not have been possible without this subdivision. ASA were not planning a placement and resolution should not be misinterpreted, but was prudent step to cover all "just incase" scenarios, had for example Gold gone back down to 1000s and Nickel back to the lows and cash flow became an issue

[postiga08] 19/10/2016 21:24

Assuming I'm an idiot, what's a subdivision? And what would it mean if I had 100 shares, for example?

[mreasygoing] 19/10/2016 20:48

The chart looks beautiful and is playing out text book at present. But being AIM who knows.

[tidy 2] 19/10/2016 15:55

Formality RNS tidying up the admin.

[tidy 2] 19/10/2016 14:57

Blue guys. Must be buys on isdx