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It will be a function of gold price, nothing more.
Baa
I thought so after my preliminary DD today but it has come to my attention that this convertible now agreement with mama was cancelled. Regardless, still like the chart setup.
AMDA
Locked and loaded for the bounce, liking the setup enough to buy in .234
AMDA
According to the Amended Securities Purchase Agreement (SPA), which went into effect on June 30th, 2015 -- today is the first day that the financier can get the cheapest possible price for their convertible notes.
Here is the filing on the Amended SPA
http://biz.yahoo.com/e/150403/amda8-k.html
The conversion is essentially the greater of $0.20/share or 80% of the lowest daily VWAP for 5 days prior to conversion date, which means a VWAP below .25 is required, to get an effective price below .2
I expect them to hold the price down today and then let her rip afterwards. Any shorting they do to accomplish a low enough VWAP is instantly covered by the conversion so it's all gravy.
AMDA
Glad to return to play catch-up on a day like today.
At Q2 earnings rate - even if fully diluted and not adjusting for the likelihood of a lower realistic O/S due to paying down convertibles, rescission of litigated shares and high-priced warrants - I'm getting EPS of .0091 with maxed OS.
I like the fact that they now added a revenue category where the sales a "pre-approved" and therefore don't have nasty readjustments.
I have more catch-up to do but I am really not sure how they imagine they can pay NPS $120M by year end and doubt that anything i read in the report will help me understand it either.
PXYN
Glad to poked me to take a look here. Definitely got my attention now.
It has been a while since I check in but I am pretty impressed by the developments and progress that has since been made. It is surprising that the share price has continued to drop based on what I'm seeing.
PXYN
Wow, I see that. Huge seller getting absorbed.
PXYN
Great questions, thank you. Please keep it up.
Whether or not you know the answers - several of which may elucidate you - they are still appreciated points to consider.
BAA
BAA is elliot-waving "goodbye"
As expected... she didn't stay in her teens for long. She's all grown up an merely wanted to remember back to her 10MA-days
you can't honestly believe this drivel that it will drop back to .15
This dip to consolidate and let the chart play catch up was largely expected. I will be surprised if price can get to and hold the teens for long.
BAA
I am glad you decided to share this thought, it is a good reminder for sure.
There are many catalysts for gold prices to rise - significantly from here.
Technicals are essentially out the window when talking gold. Spot price of gold is influenced by the global economy. Right now things look to be swinging towards high prices because of no hike yet & also because of the world conflicts going on overseas. Two good reasons for the cost of a non-yielding asset to go up. IMO.
EOD sell was due to low-volume weakness in spot.gold
1600 contracts dumped (which is normally nothing except when everyone else seems to have already left for the weekend)
BAA
Which is saying a lot since we are up more than 20% since last Friday's close and profit taking is essentially muted.
In other news, by my calculations, spot gold just broke out of a short-term wedge to the upside. 1182.5 is nice support now and 1183.5 is good enough for a breakout on the daily (extending into Sunday night).
For all of next week, above 1181.5 is upside price discovery. The mode of all spot gold contracts traded this week is ~$1165, so we may test that, but if we do, it will be a good test and consolidation.
BAA
I just accepted 40K gift-shares at .218 (thanks!)
I get the sense that gold wants to have another nice end of the week rally, like the past two weeks.
BAA
Every one of those points is possible, and growing more likely by the day, how exciting!
Waiting for some BAA news.
Commercial mnining would be nice
Analyst coverage would be good
JV would be fantastic
A buyout would be off the charts....
GO BAA
The social investment award should reduce political risk for Banro, if not for the entirety of DRC miners.
I expect this risk reduction to be reflected in the share price and be a factor that takes BAA closer to book value.
BAA
Can't say I do but I could venture to guess... however I'm not too concerned with that yet, tbh.
Up to .40 I seeing potential resistances at 100MA (~.24), .25, .28, .30, .33/.34, .40
BAA
This is what it looks like when-an-undervalued-play gets a little exposure.
Seems like we are in for a relentless rise with breaks to let people take profit (or fail at flipping) regardless of small gold moves.
BAA
She caught me by surprise as well. I was trying to do a small flip of my own.
The chart indicators for mining stocks are not as reliable as gold price moves can trump all.
I don't mind if she continues to climb from here at all though, still got plenty.
BAA
Obsessive, likewise, BAA strength is impressive no doubt.
BAA
The only reason this isn't higher is because the MMs are working off the chart technicals.
Yes, price deserves to be much higher and it will be, but right now the upper BB is over 0.01 below the current price and now we are running into the 200MA which is a great opportunity for consolidation, as the MA's catch up to recent moves, before we launch the next leg up.
BAA
(see charts) I giggled as I watched the preposterous spot gold sell-off reaction.
First, the only data points that meaningfully differed from expectations were:
1) jobless claims: which always are low at the peak of a business cycle (e.g. 2000-2001, 2007-2008)
http://www.zerohedge.com/news/2015-10-15/initial-jobless-claims-plunges-42-year-lows-despite-surgiung-job-cuts
The yawning gap between job cuts (surging most since 2009) and initial jobless claims (hovering near 42 year lows) continues to grow as initial jobless claims collapse 7k this week to 255k - the lowest since 1973. Bear in mind, Goldman's explanation that jobless claims are useless in this part of the business cycle..."this does not signal a booming labor market."
Looks like most of the data actually beat expectations but it's not necessarily good -- CPI at 0% YoY... doesn't bode well for the rate hike or the dollar.
The negative standing out is Empire Manufacturing at -11.36 vs consensus at -8
BAA
xD, yes I am watching closely. Nice pop ahead of the economic data to drop in 5 minutes. Spot gold could easily break $1200 within the next 10 minutes depending on the data.
http://www.fxstreet.com/economic-calendar/
BAA
I wish their was a live feed of the presentations today.
BAA
Spot gold ends at 5pm and starts a new day at 6pm EST
BAA
USD breakout on what?
The total lack of a rate hike?
Trashing the narrative of an economic recovery in the US?
Admission that the global economy is on its knees?
A steady flow of negative data in the US and abroad, topped by miserable Q3 numbers?
A panic in the secondary corporate bond market (in China and the US) which has the liquidity of carbon steel?
Widespread realization that recent "Accomodative Policies" only make the situation less healthy?
The imposition of new, more unconventional accommodative policies (e.g. cash bans, NIRP, QE4, and helicopter drops) with hopes of stemming the tide just to extend and pretend a little longer?
Where and how is any of this going to be good for the dollar? If you come up with an answer for this, let me know cause I have plenty more.
Offtopic, but it's kind of sad how he just talks to himself and "documents" all of his monopoly money wins without an ounce of proof.
Wasting hard-drive storage space and bandwidth with that board.
BAA
MMs looking for an excuse to dip and bounce the 50MA today. And by "excuse" I mean a single seller... which is getting hard to come by it seems.
It appears that the MMs are concerned about engineering a healthy chart while loading a few more shares.
BAA
MMs waiting for Dreamweaver to gift them with-a-panic-sell (like he did with 200K+ shares at .18 yesterday)
Documented. The only real volume below .185!
BAA
BOOOM GOLD BREAKS 200MA
Whether it holds or not, who knows, but I doubt it. Like BAA, spot gold is being briefly held down by the upper bollinger band.
A very temporary problem/roadblock it is.
BAA
Every dime that Gold rises reduces the risk of investing in Banro and increases the overall profitability/value. The price will rise with gold even if it comes later. We should consider a delay as a gift and act accordingly.
I have been watching gold price and banro closely. The MMs like to delay the stock moves and accept gifts too.
BAA
badda-bing badda-boomskee
Gold double-topped at ~$1176/oz overnight -- it's 200MA resistance, which also happens to be where the upper BB is.
Crappy data out of China, as expected, caused Yuan devaluation and a spike in gold. Then, this morning, shitty US retail data caused a second spike, bringing gold back to the 200MA shortly after it had been smashed down away from it.
Give 'er a few days to move the BBs up and we will continue a nice rise.
BAA
Nice double top on gold 1168.6
If the market didn't close exactly when it did, it would've broke out. Very bullish and plenty more where that came from soon.
I'm expecting China to build us a bit of a handle and then we move on up tomorrow. It will be another long night.
BAA
Monthly Dollar & Spot Gold charts:
I think spot gold will run once it breaks 1168 tonight. Chinese data should be crappy along with Q3 (and soon, Q4) earnings
Dollar about to be "down for the count" as Peter Schiff put it.
Edit: Hitting 1168 as I type this... large wall there over 100 contracts showing. My guess is that savvy traders have been using the resistance to accumulate a major long position and they will plow through any resistance when they are ready.
Edit 2: Wow it just popped to 1168.6 for a second
BAA
Pretty nice day here. Looking forward to see how the mining convention goes and what exposure does for stock price.
I fully expect the USD to lose its footing, rather soon, and because of that as well as a plethora of other reasons: I expect gold to continue to rise.
BAA
Nice little scoop-ski on the bid whack... another gift for the big boys, ~50K to be fair.
Like dreamweaver's documented panic-sell at .18 this morning, gifting over 200K shares, good riddance and goodbye.. we will move up just fine without you both
BAA
Namoya stacking at 69% capacity, held back by excavators during the quarter which were brought online in September.
Am I the only person here who thinks they may still announce commercial production at Namoya - perhaps at the DRC mining conference?
BAA
Just to recap, I said: dip&rip was in the cards and good riddance to the big seller today (Dreamweaver claims it was him, documenting his loss) who panicked out at .18
All these negative nancies have made me laugh quite a bit today.
We had a nice bounce off the 10/20MAs, the 10MA will cross above the 20MA today/tomorrow, and we are going to hold support above the 50MA, moving up from here like spot gold.
BAA
lol, it will be your loss
EDIT: Dreamweaver claims to be the panic seller who dumped 250K+ shares at .18 today, lol