Asa Resource Share Discussion Threads

[tidy 2] 17/10/2016 15:38

2.23 for £5k guys

[redtrend] 17/10/2016 15:22

There is confirmation in Annual report that it is a five-year bond too, but if you go back to Mwana RNS of 3-Mar-2015 you'll also find it.

[redtrend] 17/10/2016 15:17

Jailbird - good question and one I forgot to ask at AGM. I assume they must have, otherwise they would be in breach and a RNS would have been required I assume? If it's business as usual, I would hope it's just one of many updates in the Q3 Report that we will see - that they have successfully repaid the 1st instalment of the bond etc. etc.

On the terms of bond I found this in last annual report:

"The bond bears a coupon of 10% and is redeemable in eight instalments starting 18 months after the allotment of the bond which was concluded on 2 March 2015."

So it's actually 8 instalments not 18. The 18 was the months of first payment from March 2015, which brings us up to Sept 2016.

[jailbird] 17/10/2016 14:23

Thks RedtrendHas sept payment been paid ?

[redtrend] 17/10/2016 14:14

Plas - ASA took out a $20m bond for the Smelter. It has fixed interest of 10% and is payable over 5 years, so really the amount is $30m ($6m per year). First payment is in Sept 2016, with 18 payments over course of 5 years I think.

I'll try and find the RNS it was in again

[tidy 2] 17/10/2016 14:10

Quoting 2.23 for £6k

[plasybryn] 17/10/2016 13:51

Could someone set out details please of the Bond smelter payments or direct me to an information source. Thanks.

[mreasygoing] 17/10/2016 13:48

I'll be adding very soon. Yep, they want your shares.

[tidy 2] 17/10/2016 13:47

They want shares. Asking 2.15 for just £800. Limited buys at 2.1, buy gave me £1.5k

[juju44] 17/10/2016 13:38

Yep , like I said - double top

[trevorm2] 17/10/2016 13:30

Over the years always better to take profit here. Great Yoyo share.

[redtrend] 17/10/2016 13:07

Jailbird - as far as I'm aware last notified cash position was in annual accounts as of 31 March 2016 was USD 7.4m

Based on Gold & Nickel AISCs there should be significant margins/ cashflow, but of course there are some substantial outgoings that would not be included in AISCs - 2 examples being Smelter and Zani-Kodo (although if it's just Feasability Study at moment and no major works onsite, Zani will not burn much cash for now).

So although ASA may not be making huge profits yet due to substantial Capex, they should also not be eating into their cash too much. Additionally the first Bond Smelter payment would have been paid in Sept 2016, so net debt position should also be reducing.

ASA also appear to be being prudent and while they complete Smelter and have debts to repay, re-deepening project has been temporarily suspended - one of reasons was cash constraints. I'm not too worried about this as long as Nickel stays above $10K/tn meaning Smelter can be restarted and Gold stays above $1,200

[juju44] 17/10/2016 12:26

Double top is already in - doesnt mean it will collapse . No intention of selling even though I am sitting on a 4 bagger

[mreasygoing] 17/10/2016 12:22

IMO what you're looking at isn't a double top but the formation of a consolidation range. Hopefully it will establish this between 2-2.6p area. I will be buying the dips. Longer term I'm looking for moves to 4p-6p-10p.

[jailbird] 17/10/2016 12:06

You want it to go higher to sell at a profit or you want it to go lower to buy more in the hope it will go higher again As a holder , We all want the former

[jailbird] 17/10/2016 12:03

Double top in short term chart or long term chart .. which one is reliable indicator ?

[mreasygoing] 17/10/2016 12:01

A double top would indicate a reversal of the trend and no further new highs, if you think that you should sell. It's very misleading to say it if you believe we will go onto new highs.

[jailbird] 17/10/2016 11:59

April 2016 - BNC successfully renewed its existing $7m working capital facility with a local financial institution. The facility, which was going to expire in May 2016, will now expire in May 2017. Another working capital facility of $3m was successfully negotiated as bridging finance for BNC. The facility has a tenure of 12 months and is secured by BNC's financial assets (note 9).

[jailbird] 17/10/2016 11:58

The controllable, recurring Group EBITDA amounted to $7.4m profit and with the re-structuring process more or less complete and with an improving outlook for commodity prices, the Group is well placed to benefit from these developments.

[tidy 2] 17/10/2016 11:57

I want more also ;)

[juju44] 17/10/2016 11:47

As I expected the double top is playing out .More to go me thinks

[jailbird] 17/10/2016 11:45

No making any assumptions and assertions What is their cash position? ... just reading through .I understand quarter by quarter these are making cashflow

[wstirrup] 17/10/2016 10:27

Came across this piece, that describes events in Zim earlier this year, but it gives hope that, as a certain music maestro once put it...

"The times, they are a changing".



W.

[mreasygoing] 17/10/2016 10:15

Buy the dips, nice consolidation phase.