Aquatic Food Share Discussion Threads

[dutch dexter] 04/10/2005 15:46

I know what you mean barred. I think most of us here are down on this one. I bought at 5.75p, so it isn't too bad. I am doing a lot worse with RDG. I bought at 52p. At the moment the share price is 29.75p. Ridiculously low. I'm still confident with both investments though. Too bad i don't have the finances to average down.

[wendsworth] 04/10/2005 10:22

WS. Once again all AFG long term holders are in your debt with regard to rational comment.

Anyone investing in AFG on a short term basis with a position to close will clearly have not been pleased with Fridays move downwards.

As a VERY LONG TERM HOLDER ..You will see from my early Friday a.m. comment that I was not dismayed by the terms of the eventual announcement.

With much needed investment, the demise of JT ...and in due course Robert Mugabe (!) ....AFG could become a meaningful gold mining company .

As previously ...I'm 'tucking my AFG shares' CONVINCED OF A LONG TERM PROFIT .

I shall not be posting for a while .

[wstirrup] 04/10/2005 09:48

Dutch

Yes. I agree about the nickel mines, given that last year they mined 10,500 tonnes at over $6 per lb. (454gmms for the youngsters amongst us)

Could be worth a good deal more than the Gold if the Chinese and Indian economies continue growing at present rates.

W.

[barred] 04/10/2005 09:31

Dutch,
Got to be positive, my average is just under 7p! Invested for the longterm but always happier not to be 35% down!!

[bennie buffett] 04/10/2005 09:27

If canaccord is raising the money then it is just with a few institutions. Surprised with the lack of retail support. Real cashflow to invest in the most exciting exploration country DRC where our boy Kala is a Prince thus be fairly secure of the title of our assets.

[dutch dexter] 04/10/2005 01:44

I doubt that very much barred. That in itself may be a good sign, for i tend to be wrong quite often. However, i think the sentiment is too negative for such a rise and shares will be issued at 5p. Perhaps after the deal is done and the company has had time to consolidate. I do share your hope though.

WS. I agree. Mwana is not just a gold company. The nickel mines are important assets.

[barred] 03/10/2005 22:31

Hopefully today was the start of a rally back to the 7p/8p region over the coming weeks.......surely there must be investors throughout Africa who want to be part of this......

[wstirrup] 03/10/2005 20:13

Charlie, it would make more sense to keep the other thread purely for Gold, and add the nickel stuff, and MWANA specific news on here..

(The title can't be changed after the event)

W.

[cheekycharlie] 03/10/2005 16:33

make this thread a gold specific thread but keep it under the same epic as whatever African Gold/Mwana will be, and continue the African Gold/Mwana thread for company specific information.

[wstirrup] 03/10/2005 16:00

OK Chaps,(and chapesses)

I just added most of the thread header from the other thread, over the next few days I will edit it down a bit and update it to be more in line with Mwana's change of direction...

All reasonable requests for items will be considered seriously.

W.

[wstirrup] 03/10/2005 15:35

Just got my daily injection of humourous news, and this arrived as if by magic...


Bill Bonner, in London...

Two things caught our eye this morning.

"HOUSE PRICES SLUMP," says a cover from last week's
Daily Express. British property prices have been
drifting downward for several months. So far, the
slippage has been modest. Few people are fearful; most
expect a gentle decline, followed by a rebound.

A real estate agent in Maryland, USA, also noted last
week that the market had 'gone soft' there too, all of a
sudden. But for the moment, no one seems very worried
about it.

As near as we can tell, investors are still panicking
into real estate. If they're afraid at all, it is fear
of missing an opportunity that drives them on.

We notice, too, that some of the biggest stocks on Wall
Street have taken huge beatings. Fannie Mae has lost
half its capital value. Microsoft too. Walmart, once at
$70, is now down to $43. But are stock market investors
fearful? Are mutual fund investors worried about getting
wiped out?

No...not yet. The Dow is still well over 10,000. The
FTSE100 here in London broke above 4,500 for the first
time since spring 2001. Stock buyers are still taking up
shares at more than 20 times earnings. If they are
worried or disappointed with stocks, they move into real
estate, where returns have been bigger and surer.

If they were really concerned, they'd buy gold. And yes,
somebody is buying gold. The price has risen nicely in
the last few years. An ounce now trades at $470 or so, a
17-year high in dollars. At £267 for British investors,
the sterling price now stands at an 18-year high.

Which brings us to Conrad de Aenlle's article in the
International Herald Tribune. "Like generals fighting
the last war," he says, advisors are urging their
clients to buy gold. We don't know exactly what war or
what generals Aenlle refers to. The struggle for the
last 5 years or so has been only to get as much in real
estate assets...in the hottest areas...as possible. Any
general who fought that war by loading up on gold would
probably get latrine duty. Yet, Aenlle thinks gold's
bull market has reached a peak. "There have been few
occasions in modern times when buying and holding it,
instead of owning stocks, was a good idea. And those
instances only occurred when gold was lurking on the
edge of town, not parading down investment's Main Street
to public adoration."

Again, the man must be watching a different parade. The
clowns we see are still buying houses and stocks - not
gold. The price of the yellow metal, while at a 17-year
high in nominal terms, is still far below the $850 price
it hit in 1979 dollars....and even further below its
inflation-adjusted high of about $1500 (in 2005
dollars).

In 1980 you could have bought every stock on the Dow for
a single ounce of gold. Today, you will need 22 of them.
And in 1980, you could have bought a typical suburban US
house for only less than 200 ounces of gold. Today, if
you want to exchange gold for a house you'd better have
about 700 ounces...or about 2,000 ounces if you are in
California.

No, gold has not yet gotten into the parade. It is still
on the wrong side of town...still putting on its funny
hat.


W.S.

[wstirrup] 03/10/2005 15:10

Hi Toby

There are always "Naysayers" who are out to do the price down for their own ends, but 30% of something is better than 100% of NOTHING everytime!

I will post some Charts etc from the AFG thread, and gather some more info regarding Mwana and its other minerals.



Cannon

As for peddling, all I have ever done is give people FACTS, and the respected opinions of others with greater access to information than I have at my disposal, and allowed people to draw their own conclusions from that...

If you disagree with my opinion you are entitled to...

I just happen to have studied the 1970's in great detail. From several angles, the early part of this decade, is following similar patterns.

Sir Thomas Gresham said in 1566 "Bad money drives out good", and what he meant is that money that depreciates in value (or is clipped) will be spent (bad money), and the money that will be hoarded will be the "good".

The U.S. is probably spending several hundred billion dollars on oil imports at the current prices, and that can only mean all that money arriving in middle-eastern and other OPEC central bank accounts.

THAT will force the Saudis, the Iraqis, the Iranians, Mexicans, Brits, Indonesians, Venezuelans, Nigerians some other African nations and the Indians to look for alternatives to holding the nation's wealth in dollars. No doubt the Euro will benefit as will the pound to a greater or lesser degree, but so will GOLD, and whatever other items of value that hold their worth.

Inflation is around the corner...

W.S.

[tobythedogk] 03/10/2005 14:15

WStirrup,
Any chance of putting in some charts on the header?
Thanks.

[plunge] 03/10/2005 14:10

It is funny how cannonfodder has only recently started posting on the AFG BB, albeit negatively. I stand to be corrected but I cannot recall him contributing to the discussions prior to the recent news.

Hidden agenda me thinks.

[barred] 03/10/2005 12:39

That 840k buy showing as a sell was the reason for the tick up earlier........nice one

[wstirrup] 03/10/2005 12:02

Just been re-reading an excellent book I bought cheap some years ago, which documents the 1970's inflation, and the rise and rise of the Gold price.

The parrallels between the last five years and the period 1969-1974 are bizarre.

If the next 20years follow the trend then we could see Gold in 2011/2012 at
$5,000+ an ounce

I know that must sound like sheer madness at the moment, but if you had told someone in 1971, that the Gold price would rise from $35oz to $850, by 1980 THEY would have thought it madness too..YET it happened...

W.S.

[cheekycharlie] 03/10/2005 11:25

but still around 2.5p worse off pre-suspension...

[wikroberts] 03/10/2005 10:32

Well, they give 0.5p price improver on the bid....interesting. Not selling personally.....

[barred] 03/10/2005 10:17

Something happening here..........now 4.4/5.19 with 375k sell & buy limits.........watch this space!

[barred] 03/10/2005 10:14

bid/offer currently 4.09/4.56 with Squaregain but interestingly you can sell up to 150k but only buy 50k...........

[barred] 03/10/2005 10:09

Thanks for that Bennie.

Now we know why we had a 25% drop, thanks JT & cronies.

We could be in for a hard few weeks/months......but as we already knew, this is one for 2/3 years down the line.