Chaarat Gold Share Discussion Threads

[casual47] 22/10/2018 16:16

Is that a bead of sweat I see trickling down Centerra's temple?

[casual47] 22/10/2018 16:09

Interesting article on the Kumtor situation tweeted by a very pro-Centerra journalist.

[sparkyboy1] 21/10/2018 14:48

well thanks for that casual lets hope both your thumbs and toes go up then LOL

[casual47] 21/10/2018 12:38

Pablo's earlier post seems to confirm the BOD have everything under control and are working with AIM to resume trading in November. I wouldn't bet the house on it but let's assume this is what will happen, for now.

Regarding the shareprice upon coming out of suspension, I earlier posted that it could depend on a few things:

-perception of success of the "up to $100m" fundraise
-perception of value for money of the polymetal M&A (did we overpay? Does it genuinely demonstrate our BOD's M&A strategy as being successful? Is it genuinely a profitable mine with potential to scale up and increase LOM and have low AISC or will it be seen as a black hole for capex)
-Kumtor yes/no
-resource update/new financial model for mine plan, e.g. is 7 year LOM confirmed or likelihood it will be? Are upfront costs for Tulkubash dramatically reduced?
-how is the polymetal M&A going to be paid for and what are the terms (i.e. does it demonstrate that the lenders have faith in our BOD and the company)

On the "up to $100m" fundraise, I earlier posted that I thought it had to be $75m or above to not be seen as a failure. It seems they have either: 1. Been unable to raise that much and realised it would be seen as a failure so they decided to deal with the issue by doing a more modest fundraise now and then kick the can further down the road by claiming there will be a much better alternative financing arrangement at some point in the future while not actually giving many details about that (one thumb down!) or 2. They genuinely have found a better financing arrangement which led them to reduce the loan notes (two thumbs up!)

I generally tend to veer towards scepticism in these matters and having found out more about the backstory of Mr. A and our CEO I believe, until proven otherwise, that scenario#1 occurred and our BOD simply failed to deliver on their ambition so resorted to this last-minute change of tack. If nothing concrete and convincing materialises regarding this new alternative financing before we come out of suspension then I think it's safe to assume they messed up (one thumb down!).

If Kumtor happens then all bets are off and this could go north of 50p (two thumbs and two big toes up!)

If it becomes apparent that our BOD have a bigger mouth than ability to deliver it may get choppy. (Wavering thumb)

[gorsuch] 20/10/2018 17:47

2pablo's post on the 16th October gives information about relisting, whether it goes up or down at that point who knows, we can't trade as we are still suspended so whatever it does we are stuck with it.

[sparkyboy1] 20/10/2018 17:20

Casual the 24th is a few days time what do we have to do to get back on AIM we should be getting some news soon i would have thought. And which way will the price go do you think, there's not to much to shout about since the suspension.

[casual47] 20/10/2018 16:55

T-shirt weather in SE England and looks like Bishek at its coldest will be several degrees above frost for the next two weeks, so into November.

Should bode well for our drill campaign, assuming they haven't skived off work early.

[juju44] 18/10/2018 19:13

Euphoria has died here

[casual47] 18/10/2018 09:35

Several articles in local Kyrgyz press about Kumtor and Centerra today. Nothing substantial of interest to us as far as I can see, but it seems the president/pm will have to address it soon.

According to this article they are likely to address it by....Not addressing it, which seems the most likely outcome.

[casual47] 17/10/2018 16:26

Labro bought a whole bunch at the 5p placing (or whatever it was) and under the guise of Fasanara (?) they bought several lots around 8p (and also much higher). But yes, the vast bulk they got below 10p.

[2pablo] 17/10/2018 14:36

Not sure of his or mine exactly. He did get a load around 15p odd when Fasanara if I recall.

I started around 64p I think but have managed to get my average down to the low teens I think. All stuck with Beaufort at the moment but hope for full return maybe next month - I'm one of their more complicated clients to sort out, apparently, with warrants and overseas shares.

[casual47] 17/10/2018 12:44

Pabs, I did a calculation of what his average would be not that long ago and I'm pretty sure it's around 11p. The shares/loans taken up since I did the exercise may have yanked it up a little but only marginally, fractions of a penny I think.

(My average is less than his by some sheer luck)

[2pablo] 17/10/2018 12:36

He's got a few - lol

[casual47] 17/10/2018 12:22

Ok, ignore. The 156,053,831 is the total of his actual shares + financial instruments

I guess today's holding rns is the consequence of the earlier correction re. number of shares in fund raise update RNS.

[casual47] 17/10/2018 12:01

Mr A got 24,175,794 more shares than he had on 8th June (as per Chaarat significant shareholders list).

Anyone any idea how he got these?

[fishhead1] 16/10/2018 16:02

Cheers for sharing Pabs

[casual47] 16/10/2018 15:06

Late November means we get to witness what happens with Centerra's 2nd November longstop date.

[casual47] 16/10/2018 15:05

Thanks Pabs.

Expelliarmus @expelling

[oli12] 16/10/2018 15:03

Thanks for taking the time to get that info Pablo and for sharing it.

[2pablo] 16/10/2018 14:57

Quick reply from Bob B. :

I asked :
Bob, Interesting to hear today's news on financing and the close polymetallic deal completion. Are you able to re-assure me again we're not going to be expelled

Robert Benbow
2:27 PM (22 minutes ago)
to me

Hi pabs,

Yes, I can reassure you that we are not going to be expelled from AIM. We have been working with AIM and our Nomad and have assurances from them that we are not going to be expelled. Due to the acquisition, we will be submitting a re-admission document in late November and begin trading again. The late November date coincides with our expected close of the transaction.

Kind Regards,

Bob
---------------------------------
So, late November we hope to conclude the polymetallic deal and send out the Docs and be re-instated to trading. Strange, I would have thought rules were rules and Oct 24th would have been expulsion

[casual47] 16/10/2018 13:14

Thanks Pabs.

"Martin Wiwen-Nilsson, Richard Rae, Gordon Wylie and Robert Edwards – are independent, which the Board believes to be an appropriate composition to maintain effective corporate governance."


In what way is Martin Wiwen-Nilsson independent? He comes from Brunswick and seems to have been Mr. A's sidekick.

He is also considered to be acting in concert with Labro (Mr. A):

"Martin Wiwen-Nilsson, Dominik Dolenec, Abingdon Trust, Willem De Geer and Sarastro Group Limited (or in each case his or its nominee), are treated as concert parties of Labro for the purposes of the Articles."

[2pablo] 16/10/2018 13:03

Did find the following on the current Chaarat website Casual :

hxxps://www.chaarat.com/about/governance/

The Board comprises four executive directors and four non-executive directors. Three of the non-executive directors – – Martin Wiwen-Nilsson, Richard Rae, Gordon Wylie and Robert Edwards – are independent, which the Board believes to be an appropriate composition to maintain effective corporate governance.

.........................
So, he is on the site in the small print. I note the sig shareholders hasn't been updated since June, but there hasn't been much going on since then - probably be updated soon, it was Linda's job so now probably Chris Eger's

[jc2706] 16/10/2018 12:34

Curiouser and curiouser. This is obviously going to be a fun ride from here with our two main players basically deal making on the hoof! Presumably that is the way to get things done in that part of the world.

[casual47] 16/10/2018 11:58

Interesting snippet from POLY q3 results:

=========
The Company reiterates its production guidance of 1.7 Moz for 2019 and 1.8 Moz for 2020 and notes that the guidance will be revised in the event of non-core asset disposals.
==========

Now what non-core asset could that be......maybe ones not in Russia, like their Armenian polymetal mine Kapan?