Archipelago Resources Share Discussion Threads

[yorgi] 26/4/2013 14:41

From final results :

DIVIDEND

In recognition of Archipelago's strong cash generating profile, the Company announced the adoption of a dividend policy on 4 March 2013, targeting payment of dividends equivalent to at least 10% of operating cash flows.

Subject to the matters referred to below, Archipelago anticipates paying:

-- an inaugural "interim dividend" of 1.25p per ordinary share, representing approximately 12% of the Company's FY 2012 operating cash flows; and

-- a further one-off "special dividend" of 1p per ordinary share, as recognition of shareholder support during the development and commissioning phases of the Toka Tindung Gold Mine.

Resolutions will be proposed at the upcoming Annual General Meeting ("AGM"), which is provisionally scheduled for 30 May 2013, seeking approval of (i) the dividend payments as required under the Company's constitution, and (ii) a reduction of the Company's share premium account to create distributable reserves (as the parent company itself does not currently have distributable reserves to allow for these payments). Reduction of the share premium account is also subject to a court approval process, which is expected to be completed by the end of June 2013. The Company anticipates that following (and subject to) completion of these approvals the record date will be in mid to late July 2013 with payment following soon after. The Company will inform shareholders of the precise record date and payment date as soon as it is able to do so.

[yorgi] 26/4/2013 14:34

We can hope so Paleje. Reaction to todays RNS has been disappointing to say the least although looking at the medium to long term I'm confident this should prove to be a good time to buy/add.

Also we we should be getting a dividend in the not to distant future, I think at this price something like 5%......I'm working from memory on that I think that is about the right percentage.

[paleje] 26/4/2013 14:28

Two broker notes today Cannacord Buy 68, Westhouse Buy 71.

Maybe they will revise upwards with the overall June resource update.

[ronnie corbet] 26/4/2013 09:34

kgi 11 down to below 2, pog 13 down to below 2, mml a very low cost producer and great growth potential down from 6 to 2, shg above 30p to below 14p, mirl 1ukp to below 30p

all producers.

[juju44] 26/4/2013 08:29

77p to 47p is hardly staying flat

[ronnie corbet] 26/4/2013 08:17

the share price did not tank, there are many other gold shares that tanked, this one was one of the better ones.

[lfc4ever] 26/4/2013 08:05

so frustrating the way that the share price tanked when gold went down, but does not bounce when pog recovers.

hopefully the update might trigger some buying. still looks way undervalued to me even with doubts about pog, but sentiment is not with us.

[yorgi] 26/4/2013 07:47

Added to the improving POG we should see a movement up today I would hope. As you commented Juju "what they say they do".

[juju44] 26/4/2013 07:31

what they say ,they do which is rare in this business. Lets have some decent rise on this news

[paleje] 26/4/2013 07:28

They had indicated we'd get an update by end Q1, this'll do though and more to come.

[yorgi] 26/4/2013 07:25

Good news yet again :-)

Colin worked hard to bring this mine to a reality and was always approachable and ready to talk about the progress the project was making. I met him several times at the Mi shows in London.

[silverfern] 26/4/2013 07:18

NOw 3m oz of gold, and it is reducing production costs. I am sure they'll be able to mine this lot (and there's more no doubt) at current gold prices for 15 years. I am not incined to sell (Well I am on occasions but resist it!). Over time this will reflect its earnings results and maybe it will take a dividend increase to achieve that. BUt with gold hopefully recovering to above 1500$ this remains a steal. My holding is in 6 figures since speaking with COlin Loosemore some time ago.

[yorgi] 25/4/2013 15:59

Very good question juju as our management have pretty much delivered the targets they set. Just sit back and be patient I guess if they continue to deliver then I'm confident the share price will respond and reward us.

[juju44] 25/4/2013 15:53

why is this so unloved

[lucky_punter] 24/4/2013 09:27

Archipelago Resources PLC (LON:AR.) announced its production results for the Toka Tindung Mine in North Sulawesi, Indonesia for the quarter ended 31 March 2013. Gold production was 31,575gold equivalent ounces. This was achieved by processing 401,912t or ore grading 2.56g/t gold and 6.05g/t silver with a recovery of 90.3%. For Q1'13, the processing plant operated slightly below nameplate capacity on a quarter by quarter basis, primarily due to the metallurgical nature of ore from the southern deposits. The Company expects recovery rates to improve, with the recently installed oxygen plant expected to have a positive impact on recovery rates for the remainder of the year.

[yorgi] 19/4/2013 10:09

MM's now want 50p for any, I doubt it will take many buys to see the price start moving back up.

[yorgi] 19/4/2013 07:33

Gold back above 1400$ and rising.......will it hold today !

[yorgi] 17/4/2013 17:39

Medium long term I'm confident of gold. Gold is not going out of fashion I'm quite sure of that it has been the most valued currency for a lot longer than any of us have been about.

I don't see that changing.

[lfc4ever] 17/4/2013 17:23

edison still bullish about gold in recent note.

[yorgi] 17/4/2013 12:08

As you comment AR. is a well run company and up to now has brought the mine into production, and is producing gold very profitably. I can't see gold falling much further and more likely rising sooner than later.......I could be wrong of course :-)

In my mind there are too many reason for gold to rise not fall and I do believe the POG has been attacked by those who have an agenda but I don't believe they will be able to hold it.

I have taken advantage today :-)

[paleje] 17/4/2013 11:18

Don't know, don't think anyone does and it might rally instead. But they say around $1300/oz would be the point at which 30-40% of miners would have to consider their positions. We seem to be well run and relatively low cost, still very profitable at the price some would close. And below.

[nametrade] 17/4/2013 09:18

You would think that the share price would hold station. Most producers are not profitable at a lot higher gold price than AR.
How low will we go?