Anglo Asian Mining Share Discussion Threads

[riggerbeautz] 07/5/2020 16:04

Hmm LRA was a bit skin of the teeth finally got lucky, mind Nus headed the right way in Oz last night, my last remaining dog of the year; hopefully ditch that without too much damage soon too.

Should have kept some Oz picks longer but the nocturnal hours were a killer. CHN will probably be my pick of the year in hindsight.

[polaris] 07/5/2020 15:38

US don't see that as the date of importance for WW II. They entered the war after Pearl Harbour and declared war on the other Axis powers by default. They see V-J day as the one of meaning, which is in August, although they officially recognise it in early September, despite it not being an official holiday anywhere except Rhode Island.

[wanobi] 07/5/2020 15:36

great work that Rb, well done :-) Cheers Wan :-)

[riggerbeautz] 07/5/2020 15:35

Out AA. Not going to breach 30p but made a 27% gain in a few weeks. Will look again Monday.

Quit LRA too can’t believe it finally got into profit only made a couple of percent as didn’t jump quick enough on opening

[wanobi] 07/5/2020 14:56

yeah, next week would be nice macm, LOL LOL, fingers crossed :-) Cheers Wan :-)

[macmuck] 07/5/2020 14:53

Thanks for the replies re FBDK. I wouldn't have the confidence to try those swings!
Sorry about your loss KS. Last week I sold BZT before the rise and a couple of other loosers. PF is up tho and that is what matters.FFWD may well be another!? I will wait for my £26.30 a share AVCT Wan!! LoL

[wanobi] 07/5/2020 14:42

many thanx KS for putting it into words I can understand, much appreciated,,, Cheers Wan :-)

[wanobi] 07/5/2020 14:40

well done MF, nice work :-) Cheers Wan :-)

[king suarez] 07/5/2020 14:40

I did manage to buy ORPH with this month's savings at 9p, so not everything has gone wrong!

PTAL - As I understand it, PTAL forward sell their oil, since it takes many months to transport (by barge mostly?). They get payment up front based on the oil price as at 'sale date' and then any difference in price between 'sale date' and physical sale is settled up later - either in PTALs favour (if price rises) or the refiner/distributors favour (if price falls).

Due to the drop in oil price, they've received more revenue than the oil has/will physically sell for in the future so they have a 'debt' of sorts to repay, if oil does not recover. This is the 'contingent liability' they are talking about putting on the balance sheet to represent this arbitrage difference. It's called a contingent liability, because the size of the liability is unknown - i.e contingent upon where the oil price ends up when the physical sales are made.

Presumably the cash they received up front for the oil sales has already been spent on recent acviity so they cannot simply pay up the difference from current cash reseres, hence looking to sort out some arrangement to pay this off over the next few years.

It's nothing dodgy, just to do with the huge time lag between delivery and sale of their oil.

Unfortunately, due to the shut in, they have no ongoing production to use net against this contingent liability (i.e deliver some oil for 'free' to pay the difference or generate cash flow to pay it back) so we will have to see what deal can be agreed to finance this.

It feels like a fairly low risk situation given the strength of the business, but will obviously be under greater stress the longer oil stays low and/or the shut in lasts. It's not a huge amount of money for me (my holding) so I will leave it and see what happens as I hope to build a bigger holding in future if/when the situation improves.

[mad foetus] 07/5/2020 14:39

Closed my PLP they got placing away at 445, which is much higher than I expected. Made 16 pts so can't grumble

[c0lin1] 07/5/2020 14:29

Were they in the 2nd world war?

[wanobi] 07/5/2020 14:28

AVCT might just get bought into the close today for fear of missing out on a Cytiva progress RNS dropping tomorrow or Monday am cmb,,,, I could be wrong, but that's my gut/traders feeling LOL LOL,,,,, as if I have a traders gut, eh Bumpa :-) LOL... complete novice that's for sure.... anyhow, let's see :-) Cheers Wan :-) GLA Holders :-)

[wanobi] 07/5/2020 14:25

KS,,, I couldn't understand the risk associated with the financial side of the PTAL RNS this morning,,, stopping production I can understand, but, the seemingly complicated finance & need to sort some sort of deal on that front really did it for me, so I bailed.... what are your thoughts on the finances? thanx, cheers Wan :-)

[mad foetus] 07/5/2020 14:12

I sold ACP and AVCT, both strong today. But PLP plopping at least, amazed it took so long

[mattjos] 07/5/2020 14:11

with $35 spread on them

[callmebwana] 07/5/2020 14:11

Guys I bought some more AVCT today.
Sorry about your PTAL drop today.
Like Wan says it part of the game.
Snakes and ladders
GLA in whatever you are invested in.

[podgyted] 07/5/2020 14:10

Gold futures thru $1,700 again

[bumpa33] 07/5/2020 14:04

Ouch KS...!

If you’re gonna trade, you gotta pay the ‘right’ price, or leave it alone.

[bumpa33] 07/5/2020 14:01

ODR - the EUA CEO may well be about to keep that streak going. I posted the other day, for WH Ireland to walk as Nomad, there’s gotta be something REALLY unpalatable going on there. I’d be surprised if they can find another one.

[wanobi] 07/5/2020 13:59

I feel your pain KS,, I took the hit on PTAL first thing this morning :-),,, it was a real YIKES moment when I saw the RNS,,, but, it's all part of the game,,, just hit a snake and down the board we go :-) LOL,,, main thing gold is looking strong today and oil holding up too, for now :-) will be cracking open a beer later regardless :-) Cheers Wan :-)

[king suarez] 07/5/2020 13:58

Also bought a smal amount of BRH right at the days spike high of 48p yesterday. Easy money this trading lark - I don't know why anyone bothers to invest for the long term, particularly in this market where you can easily bank short term gains. Just do what I do guys!

[onedayrodders] 07/5/2020 13:55

But go ORPH !

[king suarez] 07/5/2020 13:55

Sold my GENL the other day at 114p (now 119p) to buy PTAL at 11.7p (now 6p).

Anyone wish to follow my trading style? Thinking of starting a trading blog...