Avocet Mining Share Discussion Threads

[harry3021] 24/12/2013 17:03

i just wouldn't touch it at those levels and with what we know - no long no short (too risky either way)

[kristini2] 23/12/2013 12:32

anyone shorting this stock ?

[kristini2] 23/12/2013 12:10

is this a short guys ?

[buywell2] 22/12/2013 23:04

buywell2 10 Nov'13 - 23:28 - 243 of 265 0 0 edit

GOLD is weakening

profit is wafer thin as it is re production costs

[harry3021] 21/12/2013 16:35

Gold price looking weak and small cap miners suffering with special reference to Avocet -

There's nothing much left to dump at those levels unfortunately...

[harry3021] 21/12/2013 14:01

Gold price looking weak and small cap miners suffering with special reference to Avocet - I got hit hard by this myself, had to finally give up.

[loverat] 21/12/2013 11:27

So, looks like a sell for now. Anything SP's tip as a buy is usually a sale and vice versa.

[polaris] 20/12/2013 13:19

Oh dear. Well i did think they would make it to the end of the year with the last loan and the buyout of the hedge, but it all looks nasty after the latest production shortfall. If they need another $20-30M then it is basically game over in this environment. Bets case scenario is that current holders are massively diluted, worst case is that Elliott take the TRI-K assets and AVM end up defaulting on the Ecobank loan next year due to falling pog and continuing high costs.

Good luck to anyone still in here.

regards,

Paul

[andy] 20/12/2013 08:29

budenviser,

I totally agree, his love of the hedge caused me to sell, at a time when other miners were unhedging as fast as they could!

Now some are considering hedging again, and AVM has just bought out theirs during a prolonged drop in the POG!

Just read today's RNS, what a mess!

Why on earth did they buy out the hedge with these problems already known?

Now they need ANOTHER $30 million?


JH is now at Blackheath, a Canadian junior.

[budevenwiser] 20/12/2013 08:25

Biggest disaster in their history was when that bean counter JH took over imo then he left it all for someone else to sort out.
I keep looking to see if he has turned up on the board of Maq bank.

[andy] 20/12/2013 08:24

Ok just read today's RNS, what an awful mess!

I sold years ago when they exchanged one hedge for another at a time of a strong rising gold price, and now the POG is weak, and falling, they go and buy out the hedge!

And no sooner have they done that they announce that they have all these problems and need to raise $30 million!

You really couldn't make this stuff up!

[giant steps] 20/12/2013 08:22

Hi bud, how i wish they had never gone to Africa ! Hedging seems to have been
a very bitter story for Avocet. Perhaps they would have done better with the
tungsten plan ! Watching the story as I know it very well.

All the best.

[andy] 20/12/2013 08:17

I am alone in thinking the hedge buyout was an awful deal?


111,980 ounces at $938, whereas the POG is around $1,220 currently, and looking weak.

A simple calculation is that if the POG stays at $1,238, that only equates to $33 million, whereas the buyout cost $41 million!

[mirabeau] 20/12/2013 08:11

This disaster's been on the cards for months neh years

[budevenwiser] 20/12/2013 07:58

Hi GS not just AVM all gold miners miners took on to much debt concentrating on expansion with a much higher gold price in their cost plans.
The big miners and the banks are going to end up owning them all for pennies in the pound.Who knows it could be the plan all along.
Its a shame I always had a soft spot for AVM I was in them in 2003 and made some good money.
Until these miners get together and find their own buyers and starve the bullion banks they will always end up with the fake paper price that is being forced on them .
Last one out turn out the lights

[giant steps] 20/12/2013 07:27

What a mess they have created for themselves


RNS 20th December 2013 - 2014 Financing Requirements

[leecoyote] 07/12/2013 17:19

Cracking analysis here chaps on the gold current position - hxxp://goo.gl/lcAzC3
GOLD COT POSITIONING DATA UPDATE

[giant steps] 03/12/2013 11:36

Avocet buys out total hedge and gold price falls, unbelievable timing !

AVM 13.75 / 14.25p

[lovegod2] 18/11/2013 18:05

well done AVM . griffiths is right the turn could come within the next 60 days and when it does the unhedged companies will rocket

[drewz] 15/11/2013 08:08

Indeed it is.

And Robin Griffiths at Cazenove, one of the best technical analysts around, is absolutely sure that gold will go through $2000 next year as China cleans out all available physical in London to hedge its US$ assets, because competitive devaluation of Western nations with heavy debt burden is slowly eroding the value of its trillion $$$ US bond holdings built up over the last 20 years of trade imbalances with US.