Asa Resource Share Discussion Threads

[juju44] 18/10/2016 12:15

Nope , no gaps

[tidy 2] 18/10/2016 12:14

Can't see no gap there at all.

[geng] 18/10/2016 11:19

Gap almost filled and then we can carry on the move up needs a trade at 1.9499 or lower to close it (from 28th Sep).

[tidy 2] 18/10/2016 09:22

2x 400k buys isdx with 2x 200k sells FYI

[tidy 2] 18/10/2016 08:09

Gold awaits breakout. Tiptv charthttps://www.tradingview.com/chart/XAUUSD/Mba9zo7I-Gold-Awaits-breakout/

[wstirrup] 17/10/2016 19:10

And if this guy - Doug Casey - is even half right... as he says... "Hold onto your hat!"



W.

[wstirrup] 17/10/2016 17:50

Looking like Mugabe has not long in the President's Office...

[billthebank] 17/10/2016 17:14

Thanks jailbird and redtrend for that info. The history of ASA aka MWANA has historically been one day it will deliver but it has always been Manjana and it never came I have always thought that one day the company would metamorphised and it looks like under the new ASA Group it could very well do that . I am in for the long term here and will buy more on any weakness. Cheers

[redtrend] 17/10/2016 16:54

Jail - thanks for that you've answered my question on how much each instalment is, so Plas figures look spot on for first payment.

[jailbird] 17/10/2016 16:53

There are some other overdrafts due to renew in the coming months which with current revenues and profits being generated should not be a problem . Some may get paid or renewed facilities These may be BAU renewals but are still risks

[redtrend] 17/10/2016 16:51

Plas - fair point! Would be good to know how payments are split from ASA, however as long as Nickel stays above $10K/tn, they should easily make the instalments with lots of room

[jailbird] 17/10/2016 16:50

Bindura Nickel CorporationBond liabilityOn 2 March 2015 the Company allotted $20m to subscribers of the smelter restart bond in terms of its bond information memorandum dated 24 November 2014. The bond was fully subscribed and paid up as at 31 March 2016. The terms of the bond are:-· Redeemable fixed interest rate bond with a five year tenure;· The bond carries a coupon rate of ten percent per annum payable semi-annually in arrears after 12 months;· The capital is repayable in eight equal instalments after 18 months;· The bond is secured by a guarantee from Asa Resource Group plc; and· The principal amount and coupon has been secured by the bond trust deed independently managed by a trustee and includes a guarantee by Asa Resource Group plc. in favour of the trustee guaranteeing the principal and the accrued interest.The bond has been accorded prescribed asset status in terms of Section 26 of the Insurance Act (Chapter 24:07) and section 18 of the Pension and Provident Funds Act (Chapter 24:09).The bond has been afforded liquid asset status by the Reserve Bank of Zimbabwe.

[jailbird] 17/10/2016 16:49

Hi Redtrend Found some info as you did At year end, the Group had cash balances of $7.4m (2015: $14.0m), comprising $3.4m (2015: $11.9m) held by BNC, $0.9m (2015: $0.7m) held by Freda Rebecca, and $3.1m (2015: $1.3m) by Other Asa Group entities.

[plasybryn] 17/10/2016 16:48

Thanks Redtrend.
$30m is c. £25m
Divided by 8 = £3.125m per payment
If the first payment was Sept. the next one will be April/May 2017 & the next Dec/Jan 2017/18
So £3.125m this year and £6.25m next year & so on.
That was my thinking.

[redtrend] 17/10/2016 16:36

To be clear Bond is $20m fixed 10% interest coupon, with 8 payments over 5yrs ($30m in total taking into account the fixed interest per year on original loan) - first payment was due Sept 2016. If it has been paid as per already stated timeline in previous RNS, it would not be "new" news and I don't think it would merit a RNS.

This is dollars not sterling so your payments look bit high Plas. Not sure how 8 payments are broken down, but on average payments will be $6m/ yr.

I very much doubt it is subject to change - there's lot of history but negotiating a fully subscribed $20m bond in Zimbabwe was pretty good going as was 10% rate - one of the success stories of old management despite their shortcomings. May seem like a lot to us, but for Zimbabwe...

[tidy 2] 17/10/2016 16:25

Paying full on isdx guys. FYI

[jailbird] 17/10/2016 16:13

I think you have read it wrong

[jailbird] 17/10/2016 16:12

Well I bought 100k @ 2.1p rightly or wrongly .. anything more MMs wanted 2.2p.. so I took that and then the price went up to full offer for 100k after thatSo some games going on

[billthebank] 17/10/2016 16:12

Did I read that right? Bond repayable over the next 8 months circa 3m$ a month.Surely not!!!!

[jailbird] 17/10/2016 16:08

Would there not be a RNS either way informing the market that Sept payment has been made or not ?

[plasybryn] 17/10/2016 16:06

Its a shame the interest is as high as 10%.
I suppose we are looking at a payment in September just gone of circa £3.125m & £6.25m next year.
Once we get up to 85% of spot (refurbished smelter operational) I guess we should break-even on Nickel.
Is the Bond something that could be re-financed at better terms.
Still if we get to 85%, Nickel recovers a tad & costs come down a bit further, it is easy to see how nickel can contribute a nice profit line to ASA Gold & ASA Diamonds.
I think the share price should be touching 5p by the end of the financial year if things go in our favour. What is the consensus view on the share price target over the next 6 months or so?

[moonwizz] 17/10/2016 16:02

Seems to be large delayed buys every day

[tidy 2] 17/10/2016 15:57

Can sell no problem but the want premium for £5k. Back ground buy order IMO