No Stress Thanks
07 Feb 2016
Re: RNS From last Aug RNS the water level was dropping 0.044 meters a day. So to drop the 42 meters to start underground mining it will take 954 days at that rate. That said the company have indicated that underground mining will start in 2017 so that can only mean that the de-watering rate is due to increase. The water is the biggest problem for this company they need to get to the higher yield seams. The surface mining is a stop gap and I do not think it is sustainable in the long term or for the next 954 days.
the old trout
05 Feb 2016
Re: RNS It seems that they weren't pumping for much of the last quarter of 2015, hence the small rise in water levels from August "During the last quarter of 2015, the High Density Sludge ("HDS"
plant underwent a process of upgrading the two thickeners. The thickener upgrades to the HDS plant were completed in December 2015 and the pumping rate has now increased from 72 million litres per day to 84 million litres per day."Also it is incorrect to say that the Chinese have lost interest "The Subscription Shares have been conditionally subscribed for by a number of high net worth individuals including the principal of Zhejiang Golden Machinery Plant." and "Following the Subscription, the following subscribers' notifiable holdings in the enlarged issued share capital will be: Name No. of Ordinary Shares % of Enlarged Issued Share CapitalJiabang Wang 19,704,43 15.13%Yizhou Gu 13,959,174 10.72%Chen Li 4,956,097 3.81%Also we have the following statement:"Redstone Capital Following the Subscription, the Redstone Capital concert party will be interested in 9.82 per cent. of the Company's enlarged issued share capital. *Nathan Taylor and Jason Hou, Directors of Central Rand Gold, are also shareholders in Redstone Capital and therefore have a beneficial interest in the shares held by Redstone Capital. Related PartyYizhou Gu who is subscribing for 8,959,174 Subscription Shares, is deemed to be a related party of Central Rand Gold by virtue of being a Substantial Shareholder in the Company (as defined in the AIM Rules for Companies). As a consequence, the Directors consider, having consulted with their nominated adviser, Panmure Gordon (UK) Limited, that the terms on which such commitment has been made is fair and reasonable insofar as shareholders are concerned."That's a lot of stock taken out of the free floatHave a nice weekend,T
Quarryman Rock Buster
05 Feb 2016
Re: RNS That might be Gibbo's take on it, but you only have to do some basic research of the RNS's over the last 12 months to confirm that he is deluded.What concerns me and will probably explain why the Chinese investors lost interest:Water levels below ground (bgl)January 2015 – 144m bglAugust 2015 – 153m bglDecember 2015 – 143m bglFebruary 2016 -143m bglThe water level rose 10 metres in the last 4 months of the year in 2015(from 153 to 143m bgl), January 2015 started pumping at 35 mlpd the pumping rate increased to an average of 65 mlpd for the last 8 months of 2015 and are now pumping at 85 mlpd, yet the level of the water is 1m HIGHER now than it was 12 months ago, clearly the pumps being used do not have enough capacity to take the level down to 185m bgl if the level is higher than it was 12 months ago. To my mind I can’t see underground mining operations ever commencing if they are reliant on the existing pumping arrangement, are they really going to lower the water level by 42 meters in the next 12 to 18 months?
rRomeo29
05 Feb 2016
Re: the next steps ahead - the rebound and initial contact with the 50-day MA lead to a normal technical bounce- the sudden capital announcement put additional pressure- it remains safe to hold as long as the 3.75p support is maintained (otherwise goes 3.12p)- share issue might point to a new, long term company plan?Have a good weekend all - NOW OFF NOW TO THE CARNIVAL!!
rRomeo29
05 Feb 2016
Re: fundraising - 3p So there we go. CRND must have had monthlong plan to raise shares somewhat 3 ish. Explains why noone was doing maintenance buys around 8 or 7p.---------- ----"...If the current trend continues, it tells us that major stakeholders as well as company directors see a much better deal ahead. The plan could be to allow a third party on board - for a very small price. 3 Pence could indeed attract some of the bigplayers..."
the old trout
05 Feb 2016
235k buy Has popped up as a late reported trade from 8
4 am. Price was 4p when spread was 3.50 to 3.75. Seems like some didn't get enough in the placing 
T
the old trout
05 Feb 2016
Re: RNS Well the RNS seems to have gone down fairly well on the LSE board, with the risk of going bust removed and there has been sustained buying since the early mark down, with 4.25 just paid and the spread now back up to 4.0 to 4.25, so I'll be adding in the open offer.Here's Gibbo from lse's take on it:"It seems my source is correct and we are pumping at 72 - 84 mega litres per day. If the water level is dropping at approx 0.25 metres per day as he intimated then, as we are currently at 143 and we need to reach 185 to look at recommencing underground work, it will take approx 170 days to reach that level. I have calculated a return date of end July 2016. If we allow for periodic maintenance and breakdowns / electricity shortages its my opinion based on the information available that we are on course for September 2016 almost 3 months before the board has stated. Perhaps they are just being cautious? As for the raising of funds via private investors, I see this as a positive move from our recent position, especially as we have Gold on the rise again. Would I have sold back in July last year, yes. Would I look to invest at this level, absolutely. Obviously DYOR. I'll post the levels again in March."GLA,T
si derman
05 Feb 2016
RNS Subscription of 34,999,015 Ordinary Shares at 3.5 pence.Couldn't have timed my purchase any worse, jeeze. gla, Si.
rRomeo29
04 Feb 2016
Re: the next steps ahead A share that has bottomed usually needs two attempts to cut through the upper barrier. The first attempt this week has been very powerful, probably bcse of the rising gold price as people said.Next buy-signals ahead:1) As soon as the 5.15p line is reached2) IF the 5.70 barrier is climbed3) If there is a sudden spike, from a TA view it could go as high as 8p and even 10p, where droves of sellers are waiting. (Maybe desperate Johan waiting to cash-in a Penny?)Feel free to re-adjust your AT buys or trailing stop buy.
rRomeo29
04 Feb 2016
Re: Volume Nice one! Nice to see new life in this share. And it also looks like those nasty 2-3p days have flushed Johan and consorts out for good.The initial rise to the important 50-day MA line (5p) now sees a short term TA bounce:[link] this little breather; soon there will be a 2nd attempt to rise through the 5p barrier, thus signaling a long term rise.
Jitter
04 Feb 2016
Thx TOT, I will take a look. NM. .
the old trout
04 Feb 2016
Re: Volume Good move Si.I added another 66k yesterday too. Gold continues its upward momentum and this is one of the greatest recovery plays you could find. We don't need the Chinese for that, although pop it would if they come back with a decent offer. I am happy just to wait in the knowledge that by late summer they should be back working the underground stopes and turnover and profitability will then increase enormously.Jitter, good to see you here. The quality FTSE PM stocks like RRS and FRES have already risen substantially but a rising tide lifts all boats and I think we are now in the early stages of a multi year bull market in PMs, so it is time to start looking at the mid tier companies and minnows, many of which are only just starting to scrape their way up off the bottom. Miners based in Russia or South Africa seem like the best bets to me as their currencies have absolutely collapsed so costs will be extremely low compared to the revenues they recieve in dollars. I've therefore bought some of that old dog POG recently and am thinking of having another dip into TSG or POLY.Chipperfrd on Advfb runs a very good thread on PM stocks and updates his comparisons regularly. That is a good place for some research. Just type CHIP into the search box and you will find it.ATB,T
si derman
04 Feb 2016
Re: Volume Took the plunge and doubled up here yesterday. Sold a portion of stagnating stock elsewhere to do so but the reward, should this suddenly go pop, would far outweigh the risk of not fully holding their. Well that my cunning plan, anyhoo. Si.
Jitter
04 Feb 2016
Re: Volume Hi TOT, noticed you on here a few weeks ago and bought a few yesterday. Have you got your eye on any other goldies, as I'm wanting to increase my exposure?Cheers, J.
the old trout
03 Feb 2016
Re: Volume Well Si, gold took about three attempts to break that $1130 resistance but is up there at $1144 as I type, with the dollar tanking against other major currencies. I'm thinking that if the Chinese still want this they best move pretty quickly.T
