Tom Winnifrith Bearcast - in awe of Cynical Bear and all my colleagues and feeling like a prat ( or not) over the AIQ scandal
Published 333 days ago
I reckon that shares in gold miner Altyn (ALTN) are cheap as you can see HERE. Last week the company did a two day City roadshow (not raising cash) in which it gave a full presentation to fund managers. But why should the City boys & girls playing with other folks cash be the only ones to see the presentation? In that spirit...
Published 715 days ago
Shares in troubled gold miner Avocet Mining (AVM) more than doubled the other day as its first quarter production update showed an increase of 3,149 oz at a cash cost of $925 per oz, $169 lower than the preceding period.
Published 800 days ago
Hello Share Smoochers. I got so fed up with Centamin (CEY) the big Egyptian gold miner losing share value on a daily basis that I stopped checking its share price nearly a year ago. My shares just festered away with my most little-used broker. I half-heartedly hoped for a Shrodinger Cat-type recovery if I did not look regularly at the price.
Published 842 days ago
Fratelli Investments, the Chilean business dynasty's vehicle which already owns 52% of out-of-favour Serabi Gold (SRB), has stepped in to ameliorate the Brazil-focused gold miner's financial position with $5 million (£3.4 million) 'short-term working capital convertible loan facility'. Serabi, whose shares have sagged in a weak gold market from 2005's AIM float price of 30p to 2.75p now, down from a 12-month high of 5.62p, has been grappling with falling grades at Palito, its producing mine, and slower than hoped progress at its forthcoming Sao Chico project, but chief executive officer Mike Hodgson argues this new facility 'gives the company the ability to complete its current development programme by the early part of the second quarter of 2017.'
Published 982 days ago
Broker SP Angel has slashed its forecasts for gold miner Petropavlovsk (POG) citing lower gold prices and output predictions. But with the shares at 5.5p it still sees 40% upside wth a 7.7p target price (down from 11p). The broker note is detailed.
Published 987 days ago
“Toast”. I nearly spat out my breakfast when I heard the CEO of Randgold Resources (RRS) use that word to describe the majority of his competitors in the gold mining space at prevailing commodity prices.
Published 1363 days ago
After two years of losses, Canadian miner Kirkland Lake Gold (KGI) is poised to start making money again from its high-grade Macassa and South Mine complex, holding potentially three million ounces or more of the yellow metal in Western Ontario’s south Abitibi greenstone belt. The company, quoted on AIM and in Toronto, lost a quadrupled £8.5 million on a reduced £94 million turnover in the year to April, but expects the first quarter of the current year to show dramatic improvements in costs, grades and production. The company’s turnaround strategy, initiated in January by incoming chief executive officer George Ogilvie, looks like it is beginning to bear fruit.
Published 1374 days ago
Water, though vital for life, can present formidable problems in mining, as Central Rand Gold (CNRD) has recently found to its cost. However, chief executive Johan du Toit sounds confident the company is surmounting the threat posed by surging underground water levels to mining a gold resource of potentially more than 30 million oz. in South Africa’s Central Rand goldfields.
Published 1375 days ago
If you are bullish on gold prices in the near future and like risk then Petropavlovsk (POG) is well worth a look. This is by no means a safe bet, and if you’re not prepared for the remote possibility of losing the lot then this certainly isn’t for you – but then the same can be said of many companies!
Published 1381 days ago
I get periodic requests to take a look at Solgold (SOLG). It’s not normally a stock I would consider buying. Too many people follow it. Even so, I have taken a bit of a look through the numbers and reports. From a fundamental perspective, I can’t see much to tempt me. With a £50.4million market cap this looks on the high side, for a company at this stage of development. I don’t say this to wind up Solgold’s shareholders, but we know that taking a company from exploration to mining is extremely expensive. While funding conditions remain tight and metal prices recover slowly there just isn’t much to get too excited about. However, I noted this morning’s announcement of options awarded to Solgold’s directors and now wonder whether or not this stock might be one to trade in the coming months.
Published 1383 days ago
Swimming against the tide could pay off for West Africa-focused Aureus Mining (AUE), as it prepares to take its one million oz.-plus New Liberty gold project in Liberia’s Bea Mountain area into production early next year. It will also test likely prospects elsewhere in the country, such as nearby Ndablama, which chief executive officer David Reading hints could be in the same league. The AIM-quoted company claims New Liberty will be virtually the only new mine to open in West Africa at that time and should be able to produce 100,000 oz. of gold in its first year, rising to an annual 120,000oz. for at least six years, with foreshadowed all-in cash costs of $850/oz, against a current price of $1,315.80/oz.
Published 1389 days ago
Indonesia, one of the largest economies in south-east Asia, is rich in minerals and the most populous Muslim country in the world. It has not proved a happy hunting ground for foreign investors of late, as the travails of Bumi (now Asia Resource Minerals) and Churchill Mining can attest. Kalimantan Gold (KRG), floated eight years ago on AIM to tap copper, gold and silver prospects in Kalimantan (Indonesia’s half of the island of Borneo), might appear to be another example, but it is hoping to repair the damage caused by recent setbacks.
Published 1391 days ago
Dr. Kerim Sener, the mild-spoken geologist who runs Turkish gold hopeful Ariana Resources (AAU), is a patient man -- and the performance of his company’s shares since its AIM float in 2005 has tried the patience of many of its investors. He is now celebrating the award by the Ankara government of a range of fiscal incentives, estimated by Ariana to be worth more than $2 million (£1.2 million), as the company heads towards the long-awaited start of production in 2015 at a targeted annual rate of 21,000 oz. a year at Kiziltepe, a key part of its Red Rabbit gold and silver project in western Turkey.
Published 1392 days ago
Like most gold juniors Ariana Resources (AAU) has suffered a terrible few years in share price terms. The share price is down from 6.5p less than three years ago but a lot is changing. Now is the time to buy in. Why
Published 2023 days ago
AIM Listed gold producer Shanta (SHG) is in production and should be generating cash from its New Luika mine in Tanzania At June 30th it had $21 million in the kitty yet on October 5th it announced that it had secured a new $4 million loan facility from a director and was “in discussions with additional providers of working capital financing facilities to meet its short term working capital requirements during the ramp up phase of the New Luika Gold Mine.” What on earth is going on?