Gldbrg.Gbl.Res Share Discussion Threads

[sandeels] 25/5/2016 11:23

Yes, and was 20p+ as HMB with no ug or Kara.

[chipperfrd] 25/5/2016 10:52

Based on this BB there is negligible retail investor interest so I doubt if it is on the radar for most PM focused people.

I expect it will be the usual story - coming in far too late!

[sandeels] 25/5/2016 10:40

That's be good and agree that it is not a major issue if Seki ug delivers on time. There still seems to be a general perception this will become investable once the funding is in place, I don't think people have realised the impact of the reduction in capex requirement due to the new plan.
All good and nice to see some buying in the last couple of days. This is going to be a beauty once the penny drops and Kara gets going.

[chipperfrd] 25/5/2016 10:23

I think they may have been tempting some new institutional investors onboard.

They are supposed to benefit from the State sponsored program (SPFIID) for projects such as Seki and Kara. Hence I would tend to the view that they might be able to take advantage of debt at decent rates.

Either way, it does not look to be much of a problem once Seki is starting to produce decent tonnage from the UG.
Chip

[sandeels] 25/5/2016 10:07

Ok, agreed re the 10/20m or 8/18m, 1)what do you think is the likely method to raise the remainder and why was it necessary to raise the $2m in May if, as we were told, there is adequate funding for 2016?

[chipperfrd] 25/5/2016 07:01

And after the US$2m convertible raise it has become just US$8m - US$18m. It is required for 2017/18.

[roguetreader] 24/5/2016 22:31

Sandeels
The results statement on the 29/04 stated:

' Expansion capex now reduced to an external funding requirement of US$20-US$30m, of which US$10m was raised in 2016.'

So the way I read that is that they now need US$10-US$20m
RT

[sandeels] 24/5/2016 17:44

Hear hear. And any thoughts on the likely outcome for the addl capital raising $20-30m? Although down from $100m+ originally discussed (and if things go according to plan) that should be the last hurdle before we finally see this stock get due recognition. I'm not clear whether the '$10m already raised' is included/excluded from the $20-30m fig.

[chipperfrd] 24/5/2016 15:39

Yes, 20 years of UG production is about to commence. But I hope they put out an operational update to at least report when they first hit the 45kt/month rate. It's been a protracted wait. Hopefully we will now start to benefit.
Chip

ps. and an early announcement on the Kara sub-soil approval will start to show the light at the end of the tunnel for that, much bigger project, as well.

[sandeels] 24/5/2016 11:07

From final results 29/4/16, update now due re 'portal' and confirmation of increased 'annual run rate of 500,000 tonnes pa' soon.

In terms of decline development, significant progress was made in 2015 and early 2016. To date, a total of approximately 570m of development work has been undertaken on the new transportation decline. Also, construction of the portal has already commenced, with completion expected in May 2016.

By completing the initial development works of the new decline in May 2016, the Company expects to reduce the current haulage distance from 3km to 1.2km and to increase the ore throughput capacity to 45,000 tonnes per month. This should enable the company to mine at an annualised run rate of 500,000 tonnes per year from May 2016.

[yf23_1] 18/5/2016 17:18

2017 - A year of dilution and delisting

[sloppyg] 18/5/2016 13:34

Previous funding RNS stated now had sufficient cash for 2016 Capex requirements.......clearly they were $2m short in their cash flow forecasts given this is also to be used, as they state, for 2016 capex !

Anyway sure all the ducks are lining up behind the scenes but lack of comms. makes it difficult to determine the extent of progress on all fronts.

[aaaaar] 18/5/2016 11:10

conversion....2.15p

[chrisdgb] 18/5/2016 11:02

or a Funding announcement, just out..!!

[yf23_1] 18/5/2016 10:11

Just remember

2010 - A year of transition
2011 - A year of transition
2012 - A year of transition
2013 - A year of transition
2014 - A year of transition
2015 - A year of transition
2016 - A year of transition
2017 - A year of ???

[chipperfrd] 18/5/2016 09:17

Yes, very frustrating! PR is certainly not a strong point with GBGR. They can certainly not be accused of being 'over-promotional'!

re Kara. Google Earth does appear to show lots of recent activity to the east of the Seki mine - and a fair bit to the south and north for that matter. Surely it must just be a matter of time before they finally get this long-awaited sub-soil user licence.
Chip

[chrisdgb] 18/5/2016 08:59

Still frustrating seeing Bloomberg articles on high flying gold stocks, here we are 'lost'..............!

[chrisdgb] 10/5/2016 10:21

nice buying/move today..

[chrisdgb] 03/5/2016 08:21

Great to see the reduction in capex costs....gold still flying..

[lfdkmp] 29/4/2016 18:36

A year of transition


This was the bit that I was looking for :

"The intangible assets relate to the historic geological information pertaining to the Karasuyskoye ore fields. The ore fields are located in close proximity to the current open pit and underground mining operations of Sekisovskoye. The Company is in the advanced stages of obtaining the sub-soil user licence from the authorities and it is expected to be received in May 2016."

So we should get an announcement within the next month.

[chipperfrd] 29/4/2016 17:55

Here is a heads-up on the 2015 final results:

[sandeels] 29/4/2016 15:05

ok thanks Chip

[chipperfrd] 29/4/2016 14:56

Actually it's a mixed bag of 13 trades so far today - not a 2.75m sell!

[sandeels] 29/4/2016 14:52

Meanwhile a 2.75m sell, curious timing or good opportunity to pick up a few more before the results?