oilovlam
16 May 2015
Re: Eccentric NED HappyS, you could well be right about when he bought the shares. Without the exact date of the purchase the RNS is useless and probably misleading. Creating speculation - by me at least.Even StockMarketWire was confused, hence; "Ashar Qureshi, Non Executive Director, bought 5,880,000 shares in the company on the 13th May 2015 at a price of 2.80p"Strange how the SP was heading sub 2.2p and then there is a recovery after the RNS. The RNS suggested to me that because the SP was dropping like a stone the NED bought well above market prices to bolster confidence. But the two events were unrelated if his purchase was last month.I was expecting a huge placing of shares to raise the cash for the underground development. I think until the finances are sorted out there will be a lot of instability in the SP. Used to be that to be invested in a gold mine was a good thing. But I guess it's the cost of production that is really important and that is open to management hype, best wishes and manipulation. The original Hambledon started with absurd plans of 100,000 Oz's per year and production costs of $300-400 per Oz. We now have similar targets but with a rational plan on how to get there - I hope. Although at the moment they do seem to have bitten off more than they can chew. The open pit is almost exhausted and they have to massively ramp up underground production this year whilst developing the mine at the same time, tricky to say the least. Then they have the new field - which provides potential - but must be a drain on resources. Didn't the 'data' for that field cost $20m, which they now need for the underground development. Scarily it does remind me of the old HMB. Big plans, perhaps a little too big. Even the listing on the main market suggests someone has big ambitions. I guess we are gambling that they can deliver on those plans.
happysurfer
15 May 2015
Re: Eccentric NED surely it will be tied in with the 2.8p subscription last month. Seems too much of a coincidence to be the same price. Just a time delay to reported etc.Huge vote of confidence as not an insignficant purchase
oilovlam
15 May 2015
Re: Eccentric NED My calculations were wrong, he 'only' overpaid by £34,000. It does make the overpayment even stranger. I did think that perhaps the NED was injecting some cash into the business to help fund the underground development, £1.6m would have been a good sum but £164,000 doesn't scratch the surface. The bloke needs to get another broker because they are ripping him off. Probably Barclays getting up to their old tricks again....is there a lawyer in the house!!
oilovlam
14 May 2015
Eccentric NED Why on earth would someone pay 2.8p/share when the market price is 2.2p/share. That's an overpayment of £340,000 according to my calculations. How strange. Were these shares bought on the open market even or direct from the company (if there is such a thing).
AlphaCentauri
01 May 2015
Re: Results <<It will be 'interesting' to see where that money comes from>>A bit like the UK government after the election! I have not got the mental strength to go in to a detailed analysis of GBGR but if I get back to break even (not that far off) I wil sell half and see how it all progresses. As I keep repeating there are plenty of people in it for more than us humble PIs so if they look after their interests hopefully some of the benefit will filter down to us.As for the listing I personally think it was a good idea as the AIM market has a history for many companies that says it should be avoided like the plague.
oilovlam
01 May 2015
Results There seems to be some sort of delay in developing the underground mine. They haven't even decided which method to take, shaft or decline. The open pit must be running very low on usable ore, so I cannot see how they will maintain gold production. There aren't any forecasts for 2015, 2016 or 2017, only that production will be 100,000 Oz by 2018.I would have hoped that they were saving up cash for the underground development but it all seems to have been spent (I may have got that wrong). Plus they have to pay back the EDRD loan over the next 3 years just when they need the money.Then they waste $700,000 on a full stock market listing. What is the sense of that?It seems to me that someone is very ambitious. But they still need money to develop the underground mine.....never mind the new field. It will be 'interesting' to see where that money comes from.
oilovlam
20 Apr 2015
Re: Increased Gold by 2018 NTL, it is part of the funding, according to the RNS. Therefore they must have other means of raising cash. Let us hope this is the last cash call, although I don't think the £3.4m raised will put a dent in the 30 odd million the need for the underground development. Perhaps they can get a loan and part fund from ongoing profits.
next-time-lucky
20 Apr 2015
Re: Increased Gold by 2018 At least we now know the reason for the dual brokers. £3M odd, does not seem a lot to fund new shafts, it is guessed that the price of equipment and services has matched the downward trend for all commodities in mining. Maybe this is the last cash call to implement the strategy??!!IF ONLY......
oilovlam
17 Apr 2015
Re: Increased Gold by 2018 I think they will need money very soon to maintain the development of the underground. Where they get that money from & on what terms are the big questions.It must be a tricky thing to maintain production or even accelerate production whilst developing the mine around you. Plus they need to do it as cheaply as possible. Plus the price of gold needs to maintain at current levels or preferably increase. Not guaranteed.An 'interesting' 18 months ahead.But once production approaches 100K and costs/ounce start to fall then the SP will look cheap. It is just going to be tricky getting there.
AlphaCentauri
17 Apr 2015
Re: Increased Gold by 2018 OldGoat - it's quite a hit but you need to be positive! First, do you have some pleasantly profitable holdings to take your mind off it? You could take a part loss to invest elsewhere selling ,say, 100k to put into something a little more solid or perhaps 150k if it goes to 4p. The shares can be very volatile and bear in mind also that there are a lot of people out there with much bigger holdings to worry about too!I never sell all of anything as you never know what might happen in the future. When retail was out of favour I sold half my NXT holding and put in in another hole in the ground. NXT trebled and the hole (MWA) had very little in it!Hang on in there. Remeber Warren buffet bought Tesco...........!
Retiredoldgoat
17 Apr 2015
Re: Increased Gold by 2018 I have 500K at 7.7p - I have given up hope of even coming close to that again on this share. It has the greatest talent for disappointment that I have ever known!
AlphaCentauri
16 Apr 2015
Re: Increased Gold by 2018 I doubt very much that the BoD are reading the posts here! There is little we can do except sit and wait and hope our own investments recover. I have 250k at 3.3p after few profitable buys and sells below 2p. My prognosis is that they will hit 4p, I will look for 5 and they will drop to 3p again! Fortunately most of my other investments are ticking along nicely.
next-time-lucky
16 Apr 2015
Increased Gold by 2018 The next big announcement will be the annual report in June where a clear strategy on how the BOD will achieve the targeted goal of 100,000ozs in 2018 will need to be indicated. Most of the PIs that have "stuck" with GBGR (previously HMB) are in at a much higher price than present. Is the appointing of dual brokers again, a forewarning of a further dilution of shares?? This is the crunch year to sink the further shafts needed to give the production expansion expressed. So to the BOD; give us a clue on how it will be done please??!!
AlphaCentauri
20 Mar 2015
Re: Interesting Price Hike (Today) This Week A good gain with good volume this week. Once again who knew something that the PIs don't know.....?
next-time-lucky
18 Mar 2015
Re: Interesting Price Hike Today As the CFD has not yet been closed since my last post, it would look like a LONG rather than a short seeing as the price has been down to 2.5p. With 66M shares this is a big punt, the financing cost alone is expensive? Wonder how long this is going to last??
