Asa Resource Share Discussion Threads

[mreasygoing] 24/4/2017 12:32

Have you sold juju ?

[juju44] 24/4/2017 12:05

I wouldnt trust Dearing

[redtrend] 24/4/2017 11:19

Few more updates from the press on the Chinese fraud... uncorroborated until ASA say otherwise, but press is claiming $15m may have been siphoned off.

The second article has quotes from Dearing. As gfrae has mentioned many times regarding Dearing's previous association with the Chinese, it should be a completely impartial individual leading the internal investigations with the external auditors.

It would also be good to see a clear statement/ intention of prosecutions this week. It's not enough they lose their directorships, monies need to be recovered and criminal proceedings followed.


hxxp://bulawayo24.com/index-id-business-sc-companies-byo-108900.html

hxxp://www.herald.co.zw/asa-raises-red-flag-over-suspicious-transactions/

[mreasygoing] 24/4/2017 10:39

They want shares, tried a dummy sell for over a million and they wanted them all for top dollar.

[mreasygoing] 21/4/2017 11:24

Another 500k bought in a delayed trade just before the RNS release. Davy has been busy buying up pi shares who dumped earlier this week.

[caedwalla] 21/4/2017 11:12

Maybe Mr Po has heard something on the JV in the south of DRC. That is a Chinese company and they have been very quiet about the drilling results.

[mreasygoing] 21/4/2017 10:32

Davy has been busy. Call me cynical but was this a deliberate attempt to lower the share price so he could load up ? I wont be surprised if he acquires Ning's holding.

[goldfund] 21/4/2017 10:21

Li Kwok Po David - 6,50 % (plus 25'450'000 stocks)

[skidaddle] 21/4/2017 10:17

I wonder how much time they have given the Chinese to pay back the money before they confiscate their share holding and sell them to a more suitable investor.

Normally you would bleed a company that you managed that you had no invested interest in. I don't think they thought this through very well. Perhaps they were so desperate for cash at another of their companies that common sense went out the window.

They obviously didn't think they were going to get caught. I wonder who anonymous was.

[plasybryn] 21/4/2017 09:45

I agree.
I think it will emerge in better nick once this is sorted.
I think the underlying business is more profitable than the market realises as the true performance has yet to be revealed.
Respect to Niall & the team.

[mreasygoing] 20/4/2017 14:54

Thanks for your kind reply redtrend. I took the other option, to add to my holding. I'll leave it alone and hopefully now the swamp is being drained the company will eventually release its full potential. Although I hope the swamp isn't too deep.

[redtrend] 20/4/2017 14:34

Mreasy - yes I sold a while ago. Took me longer than Mr Mac, but when Nickel spot turned to the low 10K early in Q1, I took some off the table. Then with "financing options" and the setback on milling capacity at Freda raised in last operations RNS, my last tranches were sold Feb through March time.

But some of my family still invested and notwithstanding the recent travails I do like ASA, so still take an interest in it. I want to see it do well even though no longer in.

I've also been very impressed with Niall and some of the other board members and if this setback is played right, those left standing could indeed take ASA to reach its potential... I live in hope but constantly look at both positive and negative ifs and buts!

[blueball] 20/4/2017 14:12

Well of course Mr e well worth the subscription.

[mreasygoing] 20/4/2017 14:08

Will you renew your subscriptions to British Bulls, Blueball ?????

[mreasygoing] 20/4/2017 14:06

Lessons to learn for newbies on how bulletin boards operate with regards to how shorters attack a bulletin board when a share price drops suddenly. Worth reading the previous hundred or so posts to gain experience. Sadly AIM shares are particularly vulnerable in this respect.

[blueball] 20/4/2017 14:01

I'm impressed.

[plasybryn] 20/4/2017 13:55

A very impressive recovery.
Delighted to see all those screaming abdabs have gone.
SP Angel seem pretty sanguine, even positive and I guess some will have made some very nice gains from the oversold position.
An ill wind and all that.
Anyway, I remain very happy to hold knowing the mgmt weren't knocked out by this; in fact they seem to have responded timely & professionally.
Well done

[mreasygoing] 20/4/2017 13:51

Ifs and buts mate, I'm guessing you sold ? ( No aggression intended) But questions worth pondering.

[redtrend] 20/4/2017 13:44

It may not be quite as simple as that - there may be some unintended consequences:

a) Insurance claim of $3-4m: may be dead in the water now if it's linked to management negligence (i.e rumours regarding irreparable breakdown of Freda Mill No.1). I always found the write off of the Mill bizarre when in previous RNS it was to be refurbished. A real shame and missed opportunity, as Freda could have had the capacity from Q1 2017 to achieve 100K Oz, which in turn would have reduced AISC. Still could happen eventually if they can get through this storm...

b) Export incentive scheme Top producer award: what will now happen to the incentives ASA achieved, which add up to $5.8m across 2016-2017? Will the Government retract the awards as a penalty?

c) Penalties: will the Zim government be satisfied with the quick action or will it be used as an excuse for political reasons? Does it strengthen Zindico's and others indigenisation claims against ASA, as the claim was linked to Chinese mis-management and not honouring an agreement.

d) CEO & CFO: who will be the long-term replacements? With the Chinese out, will we see Zim management reps in BNC and Freda take over?

e) Nickel spot, Re-deepening & Smelter: regarding the assets, who knows what impact the mis-management has had on these. Re-deepening Project is more important than smelter, in ensuring grade stabilisation and life of mine. And Nickel spot isn't behaving as well as Gold.

There could be some unintended positives too, but too soon to know and not sure whether it outweighs the uncertainty. As a silver lining, legally can Ning's shares be confiscated and used in placing for funding purposes?

[mreasygoing] 20/4/2017 11:26

Yep, focus on the price of commodities, gold for example is now significantly higher than year ago. The ZK assets are the big game changer here. The board appear to be draining the swamp.

[bashers2] 20/4/2017 11:09

I'm tempted as well Dollars! Agree - still got the same assets - nothing's changed basically.

[26 dollars in my hand] 20/4/2017 08:26

Tempted to think that this is buy now. The assets are the same and the crooks are gone.ZK license renewed and at $1250 gold its value should dwarf the market cap.
There's an opportunity here for a gold major to take Nings shareholding out for buttons.

[26 dollars in my hand] 20/4/2017 08:25

Tempted to think that this is buy now. The assets are the same and the crooks are gone.ZK license renewed and at $1250 gold its value should dwarf the market cap.
There's an opportunity here for a gold major to take Nings shareholding out for buttons.

[thecynical1] 20/4/2017 08:11

another wtf moment............