oilovlam
20 May 2016
Odd behaviour They announce results that to me look weak and the SP rises. Then they announce that they have secured funding for this years underground development and the SP falls. It could be linked to the price of gold but GBGR SP seemed disconnected from the price of gold.....probably because they aren't producing much at the moment.Knowing their luck (my luck too) they will start to meet their targets for gold production (which are ambitious) and the price of gold will plummet. Although given the current uncertainty the safe haven of gold should support the price for a while.
oilovlam
29 Apr 2016
Re: Results due?? Results are out....sneaked out just before the close of play on a Friday before a bank holiday. Blood on the carpet on Tuesday no doubt!!Underground ore almost stopped because they are still digging the hole. If only they had started the serious underground development a year or two back....but I guess they couldn't get the financing any earlier and didn't know how to do it anyway until recently. I guess if they start producing high grade (for GBGR) ore through selective underground at 500,000 tonnes/year then gold productiuon should see a big increase very soon. But they need to get underground equipment (trucks & a bespoke drilling rig I think) and I don't know if they will have that by May (end of or start?) - which means about now possibly.They also need a large wedge of cash by May next year. I hope the 'family' have some very large piggy banks, although I suspect they would like investment from somewhere else. Unlikely to get much from a rights issue because they would have to issue billions of share, especially after the SP drop next week.I think the company needs to go to quarterly gold production figures, if production increases significantly. Such news would boost the SP and allow them to tap the market for some cash.
oilovlam
28 Apr 2016
Re: Results due?? NTL, it is a transitional year. Open pit production has ended and they have to find a way to maximise underground ore for minimum cost...tricky to say the least. I suppose underground is less impacted by the cold weather. But I don't think there will be as much gold as shareholders would like, not this year anyway.If management have given 2018 (start or end?) for 100,000 Oz's then they haven't given guidance for 2016 or 2017 (or at least I missed those forecasts). At least gold price has recovered somewhat.
next-time-lucky
28 Apr 2016
Results due?? The average price of gold was about $100/oz down on the 2015 on the GBGR results. Not sure how to estimate amount of gold produced it was easier with the open pit. Suspect about break even; key point is the 100,000oz target on track for 2018? So far this management team have delivered.......... Frankly 70,000 would be just as good if costs are as forecast. IMHO gold is going up not down in the next few years.
oilovlam
01 Mar 2016
Re: Talk about the family One has to hope that the 'family' want to make HMB (formerly) into something that is worth all the effort. They have taken the company off AIM and are investing large amounts of cash (albeit with a good payoff). But if they were crooks there are much easier ways to get control.I think we have to wish the 'family' luck and cling to their coat tails.....!!
AlphaCentauri
01 Mar 2016
Re: Talk about the family <<The AIM market seems to revel in conspiracy; a new member of the family onto the board>>IIRC GBGR have moved up from the AIM market some time ago. Hopefully the rules are a little bit tighter for them nom.
oilovlam
01 Mar 2016
Re: Talk about the family Can 100,000 Oz production be reached?When will they reach 100,000 Oz's (or a reasonable level)?Will the price of gold remain above $1,200/Oz for long enough?
next-time-lucky
01 Mar 2016
Talk about the family The AIM market seems to revel in conspiracy; a new member of the family onto the board. The association with Kemin Resources and the mention of Kazakh Gold will stir some comment potentially; although the inclusion of Neil Herbert is again interesting. The plus, the money is available to fund the development, the minus even more shareholdings will go to the family via the option on the bond. Will the small shareholder be creamed as the potential starts to shine through? If gold goes above the $1275, then remember for a 100,00 production $100 on the gold price equals $10M on the turnover with the cost already accounted for....... Starting to look very profitable if only the production target is met.
next-time-lucky
19 Feb 2016
Move the share price?? Logic would indicate that a move to 100,000 ozs per year would be a game changer??This "new" management team seem to be good marketers; but where is it easily understood how the new incline with it's 400m per month progress is going to impact on the production figures? Surely a simple graphic could explain to simple folk, the impact, the progress to meeting that goal??Secondly we still have no confirmation that the new concession can be exploited??Lets have some more good news.........
next-time-lucky
16 Feb 2016
Re: Good news at last.....?? Nice to see the stalwarts.... Not sure where this is heading BUT if the director is willing to commit; IT could indicate that good news is on the horizon. To reach 100,000 ozs/year even at todays price puts GBGR at >$100M turnover by 2018. Next update will be H2 figures?? Gold price is hovering back around the $1200 which is IMHO closer to a long term average.
Retiredoldgoat
16 Feb 2016
Re: Good news at last.....?? Well four of us! I still have my 500,000 - average at .07p - not worth selling. You never know they may surprise me.
lordgypsum
03 Feb 2016
Re: Good news at last.....?? I've held since the Hambledon Mining days so I've got diddly squat chance of getting my money back!!LG
AlphaCentauri
03 Feb 2016
Re: Good news at last.....?? At least three of us still hold then! Out of four previous AIM shares this one is the only one with any hope of getting my money back at 3p so hanging on to the death, but could be mine first!
oilovlam
02 Feb 2016
Re: Good news at last.....?? NTL, I don't think the $20-30m will be an issue because 'the family' have agreed to underwrite the loan. It seems that someone wants to make this company into something a lot bigger than the current SP suggests.They seem to have survived the financial crisis and the fall in gold, which has stabilised at $1000 pOz. It seems that the management have a sensible plan. I don't know how realistic it will be to go from 10,000 tonnes/month of underground ore to 45,000 tonnes/month in May/June. The workers also have to get used to the 'unusual' mining method that was suggested in the review. It all sounds very encouraging but there is still a lot of work to be done and plenty of potential pitfalls. But fingers crossed.I must say that I was worried about the sinking SP.....I certainly wasn't brave enough to invest yesterday because I thought there was some bad news coming....but things look a lot brighter today.
next-time-lucky
02 Feb 2016
Good news at last.....?? The update is relatively measured and positive and seems realistic based on the current anticipated gold price range. It would be useful to have confirmation by now that the expansion field has been given the go-ahead. The capital expenditure is sitting as a risk at the moment and will make the annual accounts to be qualified which raises the risk potential for any loan facility unless it's from a Kazakh bank or investment authority. However the $20M to $30m seems small beer given the current track record of the management. IF, IF gold takes off in the face of possible debt problems, this could fly,
