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I'm looking for the best recovery play should POG go to $1500 and beyond.
I can't seem to get past those wily canucks.|
|edgein - where does the cash come from once the current reserve at Inata is depleted? They do not have the cash to develop Guinea and those assets are secured on the loans from Elliott, who own about 30% of the equity anyway, or at least they did when i sold out some years ago. I just dont see how they can produce enough cashflow to yield anything to holders.
Surely it pays to have a mix of high and low risk investments in any porty with it obviously being weighted towards the lower risk. Also would you not imagine that Inata should be rebooked as an asset since costs are now $925/oz and gold is at $1280/oz. Past losses and write downs were on very different economics. Is this not a high risk recovery play based on improving gold prices, a lot hangs on Guinea as the article points out, but the saving grace here could be the improving gold price. Not only to get a JDA for Guinea but also for the estimated 75-85000oz estimated production. If all things remain equal and AISC remains at $925 and they keep $355/oz margin then that $28.4m free cash flow over 12 months. Should gold go above $1500 and they keep control on costs then it would improve further. The guinea government need to be reminded that it was Ebola central until recently and not exactly the ideal time to carry out a due diligence or site visit. It would be a little harsh if they didn't extend the development period by at least 6 months. But that's the risk of dealing with Africans or Chinese, so not everyones cup of tea but not without some merits.
AVM has been a basket case for years. It made me a lot of cash at one point in time and i was quite an activist investor here, holding some 125k at the height of my holding in the mid 200s.
The hedge destroyed this company and a whole raft of other problems then came along. I cannot see any way of the current debt being paid back, whatever the pog may reach. The negative equity says it all really. At some point Elliott will pull the plug, take the assets as they are secured against the loans and sell them on to another small miner. AVM will fold. This is one for the penny gamblers and not any serious investor.
Yeah that pretty much sums it up.
|Oslo closed for Ascension Day holiday. So a bit boring here today I'm afraid!|
|At 08:05hrs: 50 shares traded at 8.1p (-.45p) on a 15% spread of 8.1p-9.25p. Well I suppose it's got to start somewhere, just to get the show on the road!|
|At 08:03hrs: Another auction-delayed opening price today ..!|
|Those were the days. Bought at 19p , sold some at christ knows what and watched them fall to nothing. Still have a few in the drawer somewhere , might dig them out if they go much higher.|
|squidd by name!
..no fool by nature.|
|AVM pulling back hard in Norway right now. nofool Buying like crazy into the dip.
|AVM peaked at 286p on Sept 9 2011, so today it's still over 96% down from there.
My Sharescope chart continues to scream BUY, and I will, on the dips, if I can dredge up some funds.
I don't just bottom-fish in the stock market: last summer, I was fishing with the small grand-children in Salcombe harbour, when we caught a small jet-black fish with no scales. I'd never seen anything like it, and neither had anybody else. So we were quickly surrounded by a crowd of eager youngsters admiring the catch. I got out the camera to record this for posterity, but before I could focus properly, it changed before our eyes into a speckled brown fish. It was a chameleon blenny.|
|Looking good today and plenty more to come.Also take a look at GWMO, they have a massive Gold-Copper asset in the US, mkt cap Only £1mill and with over 700k in the bank.Well funded for drilling just about to start targeting high grade Gold-Copper epithermal plume.Could ten bag easily..|
|I'm starting to Buy again in Norway.|
|Next retrace, I'm loading up with some more. AVM is now worth the risk don't you think?|
|..so no shortage of oxygen just yet!|
|If there is to be a Gold boom, then AVM at this price, is just in the foot hills right now.|
|I had all but given up hope on my holding, but two years down the line I feel like holding my holding. Gotta hope for good news from somewhere.|
Yeah the response in the short term by the gold price and the Norwegians has been outstanding. Couldn't have hoped for better. I was hoping to see 11p over 3-4 months rather than 2-3 days!
|Hello. Anyone out of bed?|
|11p. Do you like it?|
|Going great guns!|
|08:03 and still in auction ..!!|