Avocet Mining Share Discussion Threads

[phillis] 16/11/2005 08:26

Now we have lost the cricket!!!!

[phillis] 16/11/2005 08:21

EPS

05 - 3.30c
04 - 4.41c
03 - 4.81c

[bionicdog] 16/11/2005 08:18

Let's face it , production levels have failed to reach those hoped for AGAIN!

[pecker1] 16/11/2005 07:56

The results negatively impacted by hedge reduction was to be expected. For me, this is countered by the increase in prodution, extending Penjom and Lanut life-of-mine (by using Effendi ore), what looks like a new mine at Bakan, and the Idenburg results still to come. IMHO, they will be worth waiting for.

[phillis] 16/11/2005 07:55

We have the prospect of a positive RNS on Sulawesi to come.
This is designed to put some gloss back on.
V disappointing results.
Still jam tomorrow (or rather 12 months time)
Zeravshan smells like a pig in a poke

[mjcrockett] 16/11/2005 07:47

With the impact of paying off the hedge position, these results were never going to look very pretty. However, without the impact of the hedge, EPS would have shown healthy growth and there is plenty more upside to come. I look forward to this time next year when the hedge is finally finished.

MJ

[beckaroo] 16/11/2005 07:32

Yes, a very bullish report. Nice 41% increase in Penjom reserves and very good results from North Lanut. Again ZGC is the problem but it does look like they are at the point of turning the corner on this one and I think the cost of mining at ZGC in this report will be the highest and they will now start to come down (although we have been saying that for the last year!)

[jk8] 16/11/2005 07:31

eps disappointing - i guess that the share price will head back down towards 80p again.

[goml] 16/11/2005 07:19

Well, I'm quite happy with those.

Bit surprised the cost of production from ZGC is as high as it is, but there are good reasons for it and you can't make an omelette withiout breaking eggs of course. Also pleased to see they've installed expat management team at ZGC, about time they stopped baulking over the costs of that, cos' it will quite clearly pay for itself in increased productivity.

Nice grades from two sites in Indonesia as well.

[saucepan] 16/11/2005 06:53

Results already on the company website for the early birds:

[chipperfrd] 16/11/2005 02:38

Another bullish indicator for the wider gold market is the suggestion by the Russians that they may double their gold reserves - that could be 646 tonnes!

Will other Central Banks take the hint?

[beckaroo] 16/11/2005 00:32

Isn't this extremely bullish news for the Indonesian Operations as well:-



ndonesian court dismisses suit against Newmont
By Tim Johnston in Jakarta and Shawn Donnan
Tuesday, November 15, 2005
Posted: 06:10 AM EST (12:10 London)

An Indonesian court on Tuesday threw out a $133m suit brought against the world's largest gold miner Newmont (NYSE:NEM) in what is likely to be seen as a significant victory for foreign investors in south-east asia's largest economy.

The lawsuit was brought by the government of President Susilo Bambang Yudhoyono earlier this year as a result of a dispute over alleged pollution at a now-shut Newmont mine in Sulawesi Province.

But its dismissal on technical grounds by a Jakarta court is a victory for Newmont as well as foreign investors who complain that Indonesia's courts often disregard internationally binding contracts. The court ruled that the government had erred by filing a lawsuit rather than going to arbitration as called for in Jakarta's contract with Newmont.

[saucepan] 15/11/2005 19:58

Good luck all, for tomorrow.

[pecker1] 15/11/2005 13:11

Taken from a 13th October Dynasty Drilling report:

"The Qi-2 deposit hosts a NI-43-101 compliant inferred resource of 912,600 ounces gold and is currently open along strike and at depth. The deposit is only one of over 300 gold occurrences on the 1000 square kilometre property. The 2005 budget includes plans for up to 2000 m of drilling, or approximately 10 holes, with a goal of increasing the resource at the Qi-2 deposit and identifying additional resources on the property. The results from all drill holes will be compiled when complete and used to recalculate the NI 43-101 resource for the Hatu property".

Should get the results from the next 8 holes before year end.

[pecker1] 15/11/2005 10:04

My BOE calculation shows that AVM have bought 35.6% of an independently estimated inferred resource of nearly 1m gold oz for less than US$2m. As it could well have cost AVM more than that in exploration dollars to find, drill/permit/license such a deposit in China starting from scratch, this deal, IMHO, looks impressive. Another 15% of Dynasty equity would give AVM control. Add in the prospective territory to the equation and it looks even better.

The interims will show the opportunity cost in forgone profits as a result of closing out some of the hedge. Hopefully, any reaction to this will be outweighed by consideration of the benefits from this aquisition and any more positive news AVM may have up its sleeve, such as Indonesia.

[brad1] 15/11/2005 08:40

I reckon there will be an inrease in H1 production in the forthcoming interims, which imho will break this resistance level. No doubt they will mention the recent news with Dynasty. Exciting times ahead I think.

[stemis] 15/11/2005 08:04

New research note from Evolution - price target 130p

[ianwc] 14/11/2005 19:40

well i for one am very pleased to see AVM buying into Dynasty. Dynasty has been one of my worst performing stocks over the past couple of years and I hope this will wake up the Canadian market to the potential on Dynasties projects.

[pecker1] 14/11/2005 15:16

On the AVM website the RNS has an attached map showing the continuation of the Tien Shan goldbelt through the region and the locations of Hatu and AVM's Tajik operations. IMHO, to pick up thousands of sq Km of prospective territory could turn out to be an astute investment - time will tell.

[phillis] 14/11/2005 12:34

All other things being equal(before warrant exercise) AVM and CDN will in due course control DYN at +50%

[pecker1] 14/11/2005 12:30

Phillis,

Thanks for that - GFM shows it certainly takes many years to set up in China and achieve good relations/rapport, so fast-tracking makes sense. Also seems to be pretty cheap gold resource oz to buy.

[wdurham] 14/11/2005 12:29

Yes, Phillis - I am aware AVM are a miner. I held AVM stock for quite a while, only selling when Oxus won the battle to be the long-term miner in my portfolio. (Well, you've got to have one to offset all those exploration gambles!)

But even producers still need additional resources if they are to carry on being miners - or AVM wouldn't be exploring as hard as they are in many locations. The Hatu project looks extremely promising according to its NI43-101, and we may well be seeing the bud of a development JV forming here - or perhaps even an outright acquisition for AVM in future years.....