Asa Resource Share Discussion Threads

[hazl] 25/7/2016 11:00

GOOD POST R

[juju44] 25/7/2016 08:34

Should turn soon. Bindura share price starting to edge up with the on going rise in nickel price

[blueball] 22/7/2016 15:21

Keep buying this will turn anytime soon I hope/.

[resourceful] 22/7/2016 14:51

how can you think they are doing a good job
they have destroyed 99% of value
and will wipe out the rest in the next funding

[juju44] 20/7/2016 13:26

Management here doing the right things. It will come good - keep the faith

[redtrend] 20/7/2016 13:24

If Grace and her G40 posse got in it would be disastrous for the country.

However at the moment it is extremely unlikely this would occur. She does not have the required support in Zanu-PF and equally importantly does not have the support of the people or military. More likely the Mnangagwa camp would win out. Financially they understand at this juncture international investment is critical for the future success of Zimbabwe. Mnangagwa and his supporters have been the more pragmatic voices in Zanu-PF regarding indigenisation plans.

Outside of Zanu-PF Morgan Tsvangirai and the Movement for Democratic Change are all over the place and don't appear to be able to mount a serious political challenge. I don't know enough about Mujuru ousted from Zanu-PF and her chances. And it is too early to say whether the recent #ThisFlag movement could evolve into a political movement and source of democractic change.

[paul the octopus] 20/7/2016 13:23

dumple pie

[mreasygoing] 20/7/2016 12:39

Then there's the lovely Grace.

[hazl] 20/7/2016 12:35

What some refreshing posts!
Thanks again WStirrup and I mostly agree.

[wstirrup] 20/7/2016 12:06

This company's price has for years been largely a factor of the political climate that exists in Zimbabwe - with Mugabe at the helm, and the failing economy, that has stripped many reasonably well educated Zimbabweans of a reasonable living standard.

The price to build all the mines, equipment, and infrastructure such as housing for miners, schools etc that this company has over almost 2 decades, shows they care about their workforce, but has provided little solace to short-term speculators (such as myself and others here) of a profitable outcome.

When it was reported several years ago, that Mugabe was ill, the share price rocketed to 65p... But to paraphrase what Mark Twain comically observed... "Reports of his demise, had been greatly exaggerated..."

Still, at 92, with 36 years in power, his days are numbered. Before 2020? I hope so, because the greatest spike in precious metals prices is set to befall us, as all that funny money comes home to roost.

I've been down this road once before back in 1972/73, when the money supply was expanded by 25%, the following year prices went up in Britain 26.9% Ok. I know we had labour unions that were effective back then, but as someone far smarter than me once said, "There's nothing so certain, as an idea, whose time has come."
(Victor Hugo? I think.)

And today's youngsters, are desperate for change. That's why they voted for Herr Corbyn, and Donald J. Trump, in such large numbers.

All those under 45, have a rosy view of the power that politicians exert, and the real power behind the throne is the men who control the money, but that game of cards is coming to a close -

But Andrew Maguire too thinks the shell game is coming to a close soon.




Here's why...



W.

[redtrend] 20/7/2016 07:29

Riskreward - I agree that Ning's remuneration is reasonable based on market conditions, the Company's position and less than Mpinga, however the Finance Director has had a $70K increase and is paid ever so slightly more than Ning ($10K more). Grand scale of things, lost in the noise, but should have included a footnote to explain this increase.

[hazl] 20/7/2016 07:27

Very good post redtrend . 573
There is often a bit of a sell off after results.
From my point of view I have a few running on their profits now.
If its treated as a base miner it may take longer to recover.
If the gold is taken into account it may be sooner.
There was more of a discrepancy in the results than I thought but as said above its about the future and hopefully that should be better.
Everybody has to make their own decision.
IMO

[redtrend] 20/7/2016 07:23

To be more impartial, the recent negatives for me was the flat Q1 2016 quarterly report and the Bindura Annual Report which provided an update on the Smelter re-furb, showing it was late again. This was an unknown at the time and completely new information, unlike the Bindura results which were always going to be bad.

However the above after Bindura results was all baked into the share price

The Bond repayments start in Sept and equate to 18 payments over 5yrs. $30m or $6m a year. Easily serviceable based on current Gold and Nickel prices, as long as AISC remain under control (Gold disappointed last quarter).

Guess we will find out very soon if you were indeed right...

[riskvsreward] 20/7/2016 07:08

AP. You have to be fair minded and compare like for like.

You need to compare the current management with Mpinga in the context of current year Nickel price of about average $8500/T and gold price about $1100/ounce vs Mpinga time of Nickle as high as $18000/T and gold $1800/ounce.

You also need to compare Mpinga paid himself over $700,000 in 2015 and Ning only paid himself just over $300,000. With Ning doing executive chairman job much better and has a much greater shareholding in the company.

Any fair minded person will see who is doing a better job.

[redtrend] 20/7/2016 07:06

No one said there would be bumper profits, even the new rampers - everyone was talking about the next quarterly results out in a couple of weeks. If they disappoint and don't show a profit, then feel free to say I told you so and ramp up your dog GWMO that you are trying to get mugs to buy across all the boards you post on

If anyone expected a profit from the Annual report for FYE March 2016 based on the past Gold and Nickel prices and what we knew already from quarterly reports, they were clearly deluded.

The only legacy you can blame Mpinga for in hindsight is the Smelter re-furb, which was a substantial cost last year and still is. However I don't really blame Mpinga for this, as no one could have predicted the collapse of Nickel prices to 8,000/tn.

You continue to lie by ignoring the blinding obvious of the operational cost savings achieved by new management and the fact Gold is now over 1,300 and Nickel over 10K/tn. ASA was priced to fail at 0.45p and Market Cap of £7M. It is still only a market cap of £11M. Hardly pumped and it hasn't even tracked the Gold or Nickel price yet, as people are rightly wary until the next quarterly report.

[apfindley] 20/7/2016 06:35

These results are dire.You cannot blame Mpinga as he was already gone before the reported period started.These results are purely down to current management, and the losses reported are horrendous.And they had to raise equity, so it gets even worse.Where are the rampers who LIED and told everyone a few weeks ago that bumper profits were to be announced. Well they pumped the price from around 0.5 to 0.8 so job done, they ran off with their profits, leaving everyone else with expensive stock. And now the price is going down on these disastrous results.

[mreasygoing] 19/7/2016 22:25

Exactly. They are getting a grip on costs and all the silly overspending when Mpinga was running things. Overheads slashed too and I like the diversification noises they are making. Share scheme for management in the pipeline too. All good noises.

[riskvsreward] 19/7/2016 22:16

Hope this is the all the kitchen sink done and much brighter future ahead.

The macro environment of severely lower commodity and gold prices is out of the control of the company management. The management should be lauded for good self help in controlling the cost.

It is also noted that the management are setting good example themselves with no bonus for any of them, and the executive chairman Ning paid himself a much more humble salary than the previous useless management.

The Chairman report presents well thought-out company strategy and optimism going forward. With good self help and a more benign and improving trading environment of gold and nickel, the future for asa looks so much more promising.

Any price softness is an opportunity to get on board for a very profitable future.

[asmodeus] 19/7/2016 20:48

ASA Resource Swings To Loss As Weak Nickel, Gold Prices Hit Revenue

-- Net profit/loss went from $7.0m profit in the 2015 fiscal year to $9.6m loss in the 2016 fiscal year.

[apfindley] 19/7/2016 20:28

Well, results out..

Well done rampers for getting it completely wrong and deceiving other honest investors.

I did warn that results were going to be dire.!!

What price in the morning as it falls further.?

I'm saying 0.3p for starters...
If it's even possible to sell.



Meanwhile, you could do a lot worse than take a punt on GWMO great Western mining, which has serious multibag potential.


.

[mreasygoing] 19/7/2016 19:14

Welcome to the Mwana/ASA locked in club. Lots of new members recently.

[jagzoil] 19/7/2016 18:49

No it was a sell