Avesoro Res. Share Discussion Threads

[ukgeorge] 07/6/2016 10:38

surely the next placing at 2p? 1.5p ..... is just around the corner.

Look how little faith management have with such little skin in the game.

It is a life style company.

[valentine] 07/6/2016 10:35

Onoffer sub 3.5p opportunity or no news in offing. I'll take the opportunity option..

[michaelwhight] 04/6/2016 19:04

hxxp://www.bushchicken.com/residents-near-bea-mountains-operations-complain-of-pollution/

Lifted from LSE. Looks worrying.

[shavian] 04/6/2016 07:30

Arf, I don't think Dr Mark Bristow would be pleased to hear you describing DR as being the founder of Randgold! David Reading was in fact the general manager at one stage.

[beeezzz] 03/6/2016 22:06

Nice volume...POG rising US economy grinding to a halt, even after pumping trillions dollars into the economy. POG will start to take off.

[valentine] 03/6/2016 15:36

Offer up. 3.5p. I've been told there is no stopping us now all the way down from 45p. Monday will be emphatically different. Will it not? Got loads thanks, between here and 40p. Mostly a bit higher than here. "No stopping us now" eh?

[arf dysg] 03/6/2016 12:32

If David Reading founded Randgold, why isn't he managing a similarly large and prestigious miner today? I should have asked this at a meeting years ago. Too late, alas.

[valentine] 03/6/2016 11:25

Reassuring 500k @ 3.25p full share price A few more now, and I might get back to evens.

[valentine] 02/6/2016 17:47

3.5m late dec @ 3.15p. early trade from this morning. ???

[ukgeorge] 02/6/2016 09:50

If this company makes it to Christmas it will be a miracle.

High risk is a massive understatement.

[drradcliffe] 01/6/2016 15:50

There is no doubt it's high risk. And yes, how much have they had to spend on modifications and consultancy? If they restart next week, they'll need a breathing space from creditors to rebuild working capital I imagine. I suppose the biggest "unknown" here is the price of gold going forward. If it were to stabilise at around $1400 per ounce then they will make enough profit to see themselves through this crisis. Just so many unknowns.

[diesel] 01/6/2016 15:22

A very optimistic outlook, but how much are they paying to put right this fiasco?, they are bouncing along barely afloat with no headroom for any other contingencies, very high risk.

[drradcliffe] 01/6/2016 15:01

Hi Chip,

Thank you for posting that useful information.

DrR

[chipperfrd] 01/6/2016 13:41

DrR,

According to note 10 of the accounts, the first repayment of the Senior Facility is US$3.1m.

It was originally due on 31 Jan but has subsequently slipped several times.

According to the accounts the current borrowing liability (ie until 31 Dec) is US$11.339m. In total (ie incl non-current) it is US$91.47m.

Not sure if all future repayments will be rescheduled in line with the delay to the first installment, but I would imagine that they would.
Chip

[drradcliffe] 01/6/2016 13:18

Does anyone know how much the first debt repayment is? None of the various RNSs announcing a debt repayment delay say how much it actually is. They had $5.5M cash on the 13th May. They have a very low cost of production goldfield and the equipment is hardly used, so it should be worth a punt. But...

[ukgeorge] 01/6/2016 11:17

surely the banks are just prolonging the inevitable?

The mine is obviously loss making while not operating. Moving the first debt payment to June 30th is nowhere near enough time.

Surely as soon as the mine is profitable the banks will foreclose and take the entire asset and then sell it to the highest bidder.

This company is a prime example of why to avoid the junior mining sector.

[beeezzz] 01/6/2016 11:16

I think we are in Alice in wonderland mode until we get the EU ref out the way, we need British stiff upper lip and vote out

[pottermagic2310] 01/6/2016 11:11

"Nearly alright" RNS out today... tentative steps in the right direction yet again

[valentine] 31/5/2016 19:13

I have plenty..unfortunately they are 6.5-7p ish.. need a nice average down before the all right now RNS.

[valentine] 31/5/2016 16:17

Looking like sub-3p now.. Keeping powder dry. Buy last week was more than premature ...arrgh.

[valentine] 27/5/2016 15:37

All buys today. 50k just now. No movement. Same yesterday and nowt. Tempted to have another pop

[ukgeorge] 25/5/2016 18:56

It's still a 100% if you buy now ant they go bust.