Which i had available funds to average down, bought in at 3.4.!!
30% price increase, pre-trade, could this be a good day?
Possible reason ? Ever since reading the half year report last Wednesday I have been puzzled why the company decided that the half year results would be a good time to record this exceptional non cash impairment.In reading the definition of 'impairment', in accountancy terms it means a revaluation of fixed assets. Why would you do that ? Well under 'revaluation of fixed assets' I found this :-In finance, a revaluation of fixed assets is a technique that may be required to accurately describe the true value of the capital goods a business owns. This should be distinguished from planned depreciation, where the recorded decline in value of an asset is tied to its age.Fixed assets are held by an enterprise for the purpose of producing goods or rendering services, as opposed to being held for resale in the normal course of business. For example, machines, buildings, patents or licenses can be fixed assets of a business."The purpose of a revaluation is to bring into the books the fair market value of fixed assets. This may be helpful in order to decide whether to invest in another business. If a company wants to sell one of its assets, it is revalued in preparation for sales negotiations."The sale of Kleeneze would be a great move.DDP
So we're looking at a 20% ore reserve increase WITHOUT the Southern extension (which I can't see not having permission granted for), with no increase in Capex and what should bring a lower strip ratio. That has to be worth 3p on the share price surely?
Re: Publication of Bond Prospectus and Gold bouncing from Swiss vote sell off. now just down 0.8%
Publication of Bond Prospectus Lift off....Mwana Africa PLC("Mwana", the "Group" or the "Company" Publication of Bond Prospectus Mwana Africa is pleased to announce the publication by its 74.7% ownedsubsidiary, Bindura Nickel Corporation Limited ("BNC"
of a prospectus inrelation to the previously announced bond to help fund the restart of theBindura Nickel Smelter.Highlights: * Prospectus for $20 million bond issue published and marketing commenced * 5 year term with 10% semi-annual coupon rate * Expected to close late January 2015 * Liquid Asset Status granted by the Reserve Bank of Zimbabwe requiring Zimbabwean banking and other financial institutions to invest a minimum percentage of their assets in the Bond * This is in addition to the bond's Prescribed Asset Status which allows it to be carried as such by Zimbabwean insurance and other long-term savings institutions * The proceeds of the bond will be used to help fund the restart of the Bindura Nickel Smelter which will enable BNC to produce a nickel leach alloy which is expected to improve the achievable nickel price and lower operating costs. Any additional funding for the smelter will be provided out of existing BNC cash flows Mwana Africa will provide a parent guarantee for the bond.Kalaa Mpinga, CEO of Mwana, commented:"We are pleased that BNC have published the prospectus in relation to the $20million bond and look forward to updating the market on our progress over thecoming months. We would like to thank the Reserve Bank of Zimbabwe as beingawarded Liquid Asset Status allows BNC to widen the financial institutions thatcan support and participate in the bond, potentially increasing its liquidityand tradability. The restart of the smelter will allow in-country beneficiationand will provide significant benefits to BNC and Mwana".
Dead and Buried Administration, here it comes
Nice rise Nice rise on Friday and I would expect it to go further this week. MC only £1m at 0.30p and with the new CEO with 29 o/o and a lot of private interests to inject we could see the sp move well over the coming weeks.
macd and rsi charts showing very oversold and sp should rise soon
oil down, gold down, silver down, iron down, nickel down and a very high chance mwa is going down too around 2 - 2.2p
NEW ARTICLE: Trends and Targets for 1/12/2014 "SAGE GROUP (LSE:SGE) has been showing some amazing movements since September and has managed to move the price into a zone where we can show unbridled optimism for growth to 452p. Or 462p. Something a bit unusual is going on as our formula ..."[link]
All PIs with oil company shares may need hard hats this week. I fear a bit of a rout. But I dont plan to sell. I may just be another rabbit caught in the headlights.
Very odd, profit up, SP down. Smoke and mirrors?
ldlv.. post the link i added a bit later as this runs on for pages and pages
p4 sod it lost the link but you get the gist
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