Gldbrg.Gbl.Res Share Discussion Threads

[chrisdgb] 01/10/2014 09:49

Pure guesswork but it could be Blackrock, now bought 1m this morning....

[chrisdgb] 01/10/2014 08:42

Looks like we have a buyer in town.....

[chrisdgb] 01/10/2014 08:10

Thanks for the comments, certainly feels like positive momentum is with the company now...

[loppylugs] 30/9/2014 19:38

Certainly appears that things are progressing slowly, but very surely, in the right direction. Lots of positives in the report and no real negatives that are apparent.

Seems that the new management know what they are doing and are applying a business-like approach to driving the Company forward.

Of particular note is the fact that the BoD have concentrated on reducing cash costs - c30% down on last year. With the pog at current levels, makes abject sense not to scramble to pull more ore out of the ground, but to maximise the profit margin from each ounce that is produced.

Seems likely that more positive news will be forthcoming in the days ahead.

[rhotoid] 30/9/2014 17:19

Awesome news, at last some management doing what they should be doing.
I think the figures are really abit better than presented as well, aka:
If you take the capital raising out of the eps (as the money has in effect been parked but the shares issued) I get an eps of around .35p at present and that's even at this low gold price and without all the new stuff thrown in , at p/e of say 16 gives around 6p even without the new stuff, any gold price increase and further future cost reductions, which would all be in for free.
I guess with the new mine you could double it to 12p

[sloppyg] 30/9/2014 17:11

Certainly cannot fault the efforts of the new mgt team/shareholder in trying to turn this business around.....fine waived, Kara aquisition, cash costs down to c$750/oz, inclusion in SPFIID, cash of $18m, recovery rates.......etc

Does anyone else though get the impression that the CPR process has been a little bumpy ?.......find this statement a little ambiguous "This report should pave the way for increased development of the underground resources and reserves at Sekisovskoye and higher gold production in the future"

Only other comment is despite the reduction in cash costs, costs including admin expenses are currently running at c$1,000 per oz. Consequently at $1,200 POG the margins are a little tight for the development cost budget. Mgt infer that external contractors are being considered to make sure the transition from open pit to u/g timetable is hit. The question remains at what cost and what will the funding gap be if any.

Still a lot to be positive about but sense we will be held back until full extent of funding requirements are understood.

[lfdkmp] 30/9/2014 15:12

5p+ when the elusive CPR arrives!

[chrisdgb] 30/9/2014 15:02

Sounds a bit low given the bullish tone of the results..!!

[aaaaar] 30/9/2014 14:54

4p...how's that!

[chrisdgb] 30/9/2014 14:42

It would be nice to have some extensive broker research on this..target price..??

[chrisdgb] 30/9/2014 13:20

Also great to see a positive eps figure and the cash...

[chrisdgb] 30/9/2014 13:13

Results out...fantastic reduction in unit production costs..

[lfdkmp] 30/9/2014 10:11

Silence is deafening

[chrisdgb] 29/9/2014 10:28

Certainly the recent company statements look positive..

[its a worry] 29/9/2014 10:24

Well . . . . if i had to make an observation as to what is the split between ops and pessies , i would liken it to a coiled spring embedded in cold spaghetti . . . with that contracting triangle on the chart it could go anywhere . . .if it goes west it could be good , bad or ugly . . .personally i'm quite optimistic .

[chrisdgb] 29/9/2014 09:15

When do we get the update...???

What is the split between optimists/pessimists....??!!

[sloppyg] 26/9/2014 15:41

We could do with a little run on gold as well as the commercials for Seki were prepared at $1,200 per oz.

Clearly those are projections over 20 years or so but even so nice to have a bit of headroom....

[loppylugs] 26/9/2014 13:17

Hopefully the latter

[lfdkmp] 26/9/2014 11:30

Think your wish has just been granted loppy - someone has just taken 1/2 million. Absorbs all of the dribbles and more.

A blip, or the start of things to come?

[loppylugs] 25/9/2014 16:34

Would be nice to see a buy here, if only to break the monotomy of the persistent dribble of sells.

[sandeels] 23/9/2014 23:03

And a wedge forming with support at 3p, which looks ready to break one way or tother soon.

[sandeels] 23/9/2014 22:58

Management seem to have remained positive about the results of this CPR, let's suppose they deliver, even if late. What about the Kara CPR which seems to be disappearing over the horizon?

[lfdkmp] 23/9/2014 21:16

JJB

Your point 2.

Venmyn, while around for some time, haven't been in the Deloitte stable for such a long time (less than 2 years IIRC).

Maybe they have to be surer than sure before they dot is and cross ts.

Pure speculation of course.

[j4yjaybee] 23/9/2014 19:32

It's a strange one isn't it? Management started so well with timely positive information. However this seems to have slipped in 2014.

It started as being available early 2014, then quarter two, then quarter three. Yet here we are 7 days before the end of quarter and still nothing.

What is even more strange is were not dealing with some tin pot outfit. When first engaged a time line must of been given and they must of been aware of the information available.

So what has happened?:

1. Management estimates were wildly over egged and management are waiting for other positive information to soften the blow.

2. A significant amount of additional drilling needed to be carried out at the request of Deloitte to verify managements estimates.

3. There is simply too much gold and too many zero's and their brains are frazzled!

I like 3 but think 2 is more likely.

I didn't understand why management made the statement originally. If it turns out to be nearer 2 million than 6 million the market will show disappointment. Whereas if they just verified the 2 million the project would have been significantly derisked with the share price responding accordingly. From recollection the share price increase was only 8% on the day of the announcement.

Time will tell, hopefully soon! Good luck to fellow holders.

JJB

[lfdkmp] 23/9/2014 18:32

Three possibiliies as I see it:

The CPR will either :
a) Be late
b) Be disappointing in as much it does not confirm managements' bullish estimate of reserves
c) Confirm managements' bullish estimate of reserves.


If it was a) or b) would management wait until 30 September (later?) to put out a statement updating?

Could be an important week.