Asa Resource Share Discussion Threads

[mreasygoing] 31/5/2017 22:57

Nah, that was me.

[casabella2] 31/5/2017 22:25

Another 500,000 for Dave?

[loafingchard] 26/5/2017 14:10

Ignore me , he is not a director

[casabella2] 26/5/2017 14:04

Dave buying again.Got a nice holding now.Will want to see a good return for his money spent.

[loafingchard] 26/5/2017 14:04

Director Mr David taking the opportunity to hoover up 15 million shares while the price is suppressed

[wstirrup] 22/5/2017 15:21

You paint a wonderful picture Mac... Just thinking about it, made me squirm...

;¬)

W.

[mr macgregor] 22/5/2017 11:07

The white elephant in the room is the smelter. The start date keeps disappearing over the horizon and in just over three months they start paying back the $20m bond at $5m a year plus interest all for an unusable asset they can't afford to start up de to low nickel prices and lack of third party agreements they've been trying to secure for years. Presumably the sink fund referred to is Ning's Hong Kong bank account, the details having been extracted from him while he was hanging by his balls over the Bindura mine shaft.

[casabella2] 19/5/2017 16:41

Should get a half decent run from here over the next few months.

[juju44] 19/5/2017 16:23

Reasonable market response to a reasonable report. Certainly more encouraging than all the recent bad news

[skidaddle] 19/5/2017 11:57

Any large miner "interested parties" looking for a JV at Zani Kodo could be a game changer for ASA.

Some upfront cash with a decent carried interest and an understanding that the development will be expedited would be nice.

[plasybryn] 19/5/2017 11:39

Given everything that has gone on, this is a pretty impressive update imo.
“EBITDA increased to $20.5m (FY 2016: $0.3m loss)”.
Both Freda & BNC profitable.
Encouraging ASA Nickle results - all ahead of target.
Approaches from interested parties.
Business Interruption Claim ($1m/$2m) plus Exports Credits for Freda - c. $3.6m this year.
Zindico lawsuit finished.
OK we need a further period to get our ducks back in order, but the upside potential here is not understood by many imo. Happy to wait.

[redtrend] 19/5/2017 08:46

A very mixed bag of a RNS, but considering the issues, better than I expected in some areas. However it is disappointing there is no update on the legal side of either ASA or the Authorities pursuing Ning and co-horts.

Also I'm confused how for ASA Nickel C1 Cash costs are $4,955 but C3 AISC is only $4,549. How can AISC be less?

It's good to see ASA Gold changing strategy on Freda on the mills. It looks likely now they will get full mill capacity by Sept 2017 with both large mills back online. This means they should achieve the 90K Oz/ yr at that point forward. That is very good news. They will also then have spare/ redundant capacity.

However on ASA Nickel side it's concerning the re-deepening project has such a long completion date due to long lead times of some equipment (completion March 2018). This is coupled with the statement that 1.68% grade was only achieved due to mining of more massives, which as they state isn't sustainable in long-term. This isn't a great % for ASA Nickel historically, at the lower end, but it appears this will worsen giving the statement they will blend more disseminated ore into the massives.

All in all a mixed bag, but could have been far worse

[juju44] 19/5/2017 08:31

Could have been worse . Looking better now for the future

[jailbird] 19/5/2017 07:40

A good concise update.Still some challenges ahead but a decent update.Just need to get their house (s) in order over the next one to two quarters, particularly finances. But have some money from grants tooNickel AISC are excellent but Nickel prices are not expected to rise as sentiment has changed now.Gold AISC poor this quarter but expected to improve next quarters

[wstirrup] 09/5/2017 15:16

Mac, If I had spare moolah, I think, given recent changes, I'd be topping up, as the manipulation can't go on for too much longer, (if you listen to those with an inside track on the matter)

[mr macgregor] 05/5/2017 11:41

I admire the way this keeps defying gravity as it looks like a basket case. Dearing's interference has definitely not paid dividends but who knows? He might be able to turn it around eventually. I have my doubts.

[jailbird] 03/5/2017 10:20

Nickel approaching all time lows again.

lopez loses her role.
More Nickel to come online once suspension/closures have been reversed.

Producers will come under pressure again

[ilovetowin] 02/5/2017 23:17

No mention because the money is goneScam has been blown. Next set of accounts will see drawdowns.

[mr macgregor] 02/5/2017 15:18

“We have stopped the actions which were bleeding FRGM and undermining BNC." The next set of results will make interesting reading.

[gfrae] 02/5/2017 14:34

Latest update makes no mention of any attempts to recover the money stolen by Ning and the FD. As Ning is CIMGC why can not CIMGC's shares be seized and sold and the proceeds be used to replace the stolen money ?
Dearing would presumably object. Perhaps he should prove that he has no connection to CIMGC, nor has had previously ?

[gfrae] 02/5/2017 08:57

Dearing helped orchestrate the original Chinese takeover,that prompted Peel Hunt to resign as broker. He is not an old fool.

[skidaddle] 02/5/2017 08:36

One would hope that Dearing was fooled like the rest of us and won't be fooled again.

Otherwise the expression "There's no fool like an old fool", comes into play here.

[mr macgregor] 02/5/2017 08:33

Whatever, the guy is Mr. Teflon.

[mreasygoing] 02/5/2017 08:26

Presume nothing.

[gfrae] 02/5/2017 08:22

Dearing , I presume ,has been brought in to act as proxy for Ning. We can assume he continues to act for the Chinese majority shareholders who have stolen the money.