Avesoro Res. Share Discussion Threads

[bsg] 02/7/2015 09:13

People talking themselves out of this. Or is it just the falling POG.

Edit: Ebola is back !!

[luminoso] 01/7/2015 09:51

You may well be right, tradermel. I have taken the view, rightly or wrongly, that the upside will be limited and have sold out. At least I have more than recouped last year's losses on AUE, but I did expect to hold longer this time around. Good Luck to all holders.

[tradermel] 01/7/2015 07:42

luminoso having been through the AFFF sale it seems the BoD has zero intention of running this one long term and certainly not for the best interest of shareholders

[diesel] 24/6/2015 14:37

maybe at any given time a bid is expected to attract interest if it is somewhere between 30-50% above current share price Right now we are valued at pre production, with some news on progress to steady state production I would expect another uplift. I do not believe that DR thinks that the potential value of the company is somewhere around 40p/share, if someone makes a bid now they may well get this company on the cheap, but then again they may just attract other suitors.

[bsg] 24/6/2015 13:43

Probably put an unnecessary ceiling on the share price as well.

[luminoso] 24/6/2015 11:57

Re Richard Griffiths - think his average will be much lower than 23p as he bought an enormous amount at 16/17p didn't he ? He may be well happy with less than 42p. I find it disappointing that the CEO is effectively, through his AGM comments, putting the company up for sale for around 42p. This means offers would come in shy of that and still probably be taken, if they believe all shareholders are in at a much lower level. Thats not very ambitious after bringing this company through the Resources crash and Ebola to be on the verge of full production (albeit delayed again). Given the POG performance, maybe Oggyrocks has the right idea.

[oggyrocks] 23/6/2015 13:39

With regret I sold all my position yesterday. This was as a result of POG falling away again and being on a downward trend, and the fact that productions was being delayed.

Long term I think this will do well and will be keeping this on my radar, but I think that it might possibly drop down again as it has struggled to break any key upward resistant points recently.

So have gone elsewhere to try my luck, but if things improve here or gold price jumps I'll be straight back in.

Good luck to you all and was a reluctant seller - I just couldnt justify holding at the moment.

[djt59] 23/6/2015 07:34

Slight correction to last post, that "last couple of days" was actually the previous week, not sure what happened during last week.

[djt59] 22/6/2015 22:41

For the last couple of days there has been an extra 15k bid at .5, that bid appears to have been lifted to buy the .56s that traded late yesterday.


Only 4k traded at .83, most of that was a bid that got hit and was a different buyer to the 6.5k that traded at .69 but who also probably bought the first 1k at .83.

So this is more than one buyer at .83 (or two different brokerages being used).

Still not a huge amount of cash though!

[frizzers] 22/6/2015 21:32

But you never know ...

[frizzers] 22/6/2015 21:20

Up 50% in Canada, but on just 12,000 share traded. Suspect it's some kind of fat finger action.

[beeezzz] 19/6/2015 13:10

Will we get a production update soon?

[robrah] 19/6/2015 09:00

Thanks for the share . Interesting to see the ceo is talking only 50%premium on these prices . Lot of fund raising was done higher and I am not sure but the warrents can be excircised only once the share price hits .50 p It would be great disappointment if they sell below the Capex value of new liberty Just have a look at how much funds they raised . Is 40 or 50 p reasonable

[michaelwhight] 18/6/2015 15:07

Ps. Thanks to Geckoman and hope you don't mind me pasting it here.

[michaelwhight] 18/6/2015 15:05

ContTakeover. DN said had a strategy for this but could not be pressed on what he felt was fair value. DR similarly coy but after a while said that he felt that - at this point in time and with current pog - he would have to take a premium of 50% to the shareholders as a courtesy. I was surprised at this and asked why when so many backers had bought in so much higher. DN believes pretty much all early shareholders had sold by now and that the churn meant the sh average was down at current levels. DR agreed. I asked about IFC buying in and DN said that (seems I was wrong about them buying in the 80s) they bought at 27p and 18p. But as DR is very bullish on gold (surprise!) he feels that we are worth much more when gold rises. They certainly don't want to sell now with depressed share price DN has strategy but understandably they weren't going to share this with me!

[michaelwhight] 18/6/2015 15:01

Cont. Please note that neither DR nor DN suggested a 50% premium as indicating a price that they would be happy to sell at, but that a 50% premium would represent a price above where almost all investors were averaged at, and therefore they as a board would be compelled to say to shareholders, "what do you think?". I suppose that if both the IFC and Richard Griffiths are averaged at (just my guess) around 23p, then the board would be in a lot of trouble if they rejected a bid at say 42p out of hand without talking it over with the major shareholders. But they seemed pretty clear that they think there is far more value to unlock in AUE and selling at this depressed share price and pog is not in their plans. DR seemed to think the pog will be moving north soon!

[michaelwhight] 18/6/2015 14:59

From Geckoman on lse.Mine is currently closed down, have not poured since the pour end of May. Starting again in a few days. No issues though, just final commissioning. This does seem that the gold pour was a rush job to meet the declared deadline and there is still plenty to do to bring the plant to being ready. Hand over of New Liberty from project team on track for next month, full production will be September not August though. No issues expected with this delivery. Reiterated that the AISC is $789 over life of mine - hinting that costs for this specific year as they ramp up will be slightly higher. He did say that they would try and consistently stay below $800 however.(I'm breaking the feedback into bite sized numbered chunks)Dividend. They are building a strategy for this. DR says it's too early to specify when a dividend could be paid. They need to look at all the other costs first. Paying down debt is not a specific priority, so they will simply pay in accordance with the planned payback. Zero hedging of gold currently, do not plan to hedge either. Both DR and DN warned against miners who made no money during the boom years as they had hedged all production at a fixed lower price. However, they will be forced by the banks to hedge "a bit" once gold hits 1400, to safeguard the banks money. Could not press for an answer on what was a bit, but said it would not be much. But otherwise they are really against hedging.

[ridicule] 18/6/2015 07:48

It is the AGM today. I was hoping for an announcement on what the Chairman will be saying. Is anyone going? If so can they let us know what is said please.

[robrah] 18/6/2015 06:52

Hmmm . Well what is next now for this little gold nugget ?

[luminoso] 13/6/2015 11:54

Robrah

I assume we will ease into the 30's on production and higher if POG moves on up. I would be tempted to top up at 25p or less, but there are also other opps out there in the market ( non mining ). I would need to see a definite swing of sentiment behind Gold to wade in for lots more. Even with the Greek tragedy unfolding, its not happening yet.

[michaelwhight] 12/6/2015 17:29

If you take 20p as a post Ebola low and the co's valuation of NL as 45p then a midway point of 32.5p on steady production would seem reasonable. It may overshoot but MR Market doesn't seem to want to factor in the prospects.

[robrah] 12/6/2015 15:08

Don't see anyone call the recent up tick picking up these "cheap share "Surely if one really believes there are hitting 35 or higher . They would be buying now . Down nearly 10 % from the recent peaks