Capital Share Discussion Threads

[gleach23] 18/2/2020 08:38

As expected/hoped, company says drilling continues and contract discussions remain ongoing at North Mara. Good of them to confirm so promptly.

[gleach23] 17/2/2020 15:44

Agree shanklin. Perhaps extension negotiations have themselves become extended following the Barrick takeover of Acacia. I have written to the company asking whether the North Mara drilling work still continues as suggested by its listing as a long term contract in the Jan Q4 TU

[shanklin] 17/2/2020 15:24

They really should be equally prompt updating on contracts not being extended and they would be as and when new contracts are won.

[pireric] 17/2/2020 14:52

Thanks gleach, that would be handy to know. In the past they have RNSd important contract extensions so my gut feeling would be that it may not be extended and that might offset growth from the mine site contract ramping up

[gleach23] 17/2/2020 13:18

Acacia contract situation in North Mara certainly worth highlighting pireric.

The initial contract in Dec 2015 was for 2 years with the ability to extend for a subsequent 2 years which duly happened. The trading update in Oct 2019 mentioned activity in North Mara had increased after resolution of Q3 issues related to the Tanzanian government. Presumably resolution had something to do with Barrick's takeover of Acacia which included settlement of a dispute between Acacia and Tanzanian government. Question now is whether Barrick will extend the North Mara contract with CAPD. No mention of the contract situation in the trading update in Jan 2020 although it did list North Mara as one of its 6 long term contracts. I'll drop an email to the company to seek clarification.

A risk highlighted last summer was that whilst CAPD list Barrick as a former client, the new chief of Barrick is ex-Randgold and they are not listed.

On a more positive note, there's only been 5.5k shares available to buy online this morning whilst the underlying Bid has continued to strengthen, now up to 51.7p for decent quantity after the 30k buy @ 53.5 just reported.

[pireric] 15/2/2020 21:15

Quick question - do we know the state of play with the important contracts that were coming to their end dates (Q4 2019 and 2Q 2020) and whether they've been renewed? As I suspect that's key to guessing 2020 guidance and whether this fall has any substance

Referring to North Mara with Acacia and the AngloGold Ashanti one

Thanks

[thepopeofchillitown] 14/2/2020 15:21

Good forum this. Its probably a boring enough company not to attract bellends.

[gleach23] 14/2/2020 13:59

Despite market quote @ 48.2-51, the underlying spread is very tight @ 50.0277-50.195

Took the opportunity to top up earlier at this price.

[tole] 13/2/2020 18:54

Thank you for having a look.. Did try and check today during another stocks price auction and don't think the app actually registers the price or illustrates auctions. Annoying really.

[gleach23] 13/2/2020 18:26

Difficult to know what to make of today's trades. Judging from dummy trades, the share price was stronger this morning after what seemed like some early chunky sells and weaker going into the close even though a 50k buy @ 53p timed at 15.28 was reported late.

Oh well...Finals 5 weeks today so not long to wait and hopefully we will see some strength before long in the run up.

[mfhmfh] 13/2/2020 13:31

Peel Hunt today reiterates buy rating and 84p target price.

[gleach23] 13/2/2020 09:38

@ Tole - I did check the phone app in the mini auction at 13.50 yesterday afternoon but couldn't tell if it updates with live prices during auction. There's no indication of the auction on the app as far as I can see. I don't have mobile streaming however which makes it more difficult to check price changes. Will keep eye out for it.

Good to see only 15k apparently available to buy this morning.

[qs99] 13/2/2020 08:24

to me, it has to be a seller of size. TU only 4 weeks ago was relatively upbeat and fine, so cannot imagine things have changed that much?

DYOR, but will monitor and below 50p will add in size to my already sizeable holding.....but not sure it will get that low....DYOR

[gleach23] 12/2/2020 17:44

Late trade reported of 81,067 shares which is the sort of random large trade I am looking out for as a sign that seller is done.

However it's dated yesterday (on LSE site) at a price of 55.4242p which would have been a buy at the time.

Anyway thought it was worth noting...others may disagree :)

[rivaldo] 12/2/2020 15:50

..and the last (very encouraging) Q4 and year end trading update was only 26 days ago :o))

[gleach23] 12/2/2020 15:26

Finals 19th March

[dmdmdmdm1] 12/2/2020 15:13

Is a TU expected any time soon?

[qs99] 12/2/2020 14:27

Looks a very odd share price iMO.....hopefully we will find out who is selling and I can then work out whether it is good for a bounce or not. Holding fire for the moment having tried to top up in the 50s ffs!

[mfhmfh] 12/2/2020 14:23

good drill results from CORA. more drilling to come. CORA use CAPD:

[rivaldo] 12/2/2020 13:51

Looks bonkers to me with the gold price at a very nice $1,565 and likely to stay at around those levels or better for a while yet.

Having had a look around, there's no adverse news around AFAICS, and all the recent news around the company has been good.

There must be a forced/desperate seller around. An opportunity imho for those not already in who want to top up.

[gleach23] 12/2/2020 11:57

Interesting point. I generally use a desktop so will have a look at the phone app next time.

Certainly a curious share price action as we contemplate who the seller might be and when they might stop. Very tempting at the current level looking at the chart but a dart to 46p might not be out of the equation if the selling continues to be drip fed into the market.

[tole] 12/2/2020 11:47

Out of interest does advfn not show that the stock is in auction at all? Always thought the phone app equalled the price and showed AU or has that changed.

[tole] 12/2/2020 11:21

Thanks.. i didn't know that.

[gleach23] 12/2/2020 11:14

That would have been due to the mini auction Tole. ADVFN prices don't adjust until the auction closes and so they don't reflect the underlying market between 10.50 and 11.00.

[tole] 12/2/2020 11:06

Strange action.. IG took this down to 52 about 10mins before the price changed..Took a few fwiw. Will it bounce from here or will they take it down to 46p.