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Exactly. And also worth noting that the it is a temporary hold on BUYING, not selling. That should tell you something.
10K coming. Are you ready shorts? LOL
10 K coming. Thats the catalyst imo.
LOL. Drop is entirely fake, 10K imminent...
Now, where have I seen this before? Oh yes Chesapeake last month. A truckload of scaremongering about BK and all that BS, before the inevitable rally...
LOL. Rather be long than short at 1.20! Ask the folks who were short last time round...
Wouldn't be so sure about that. New CFO, delayed 10 k due to IT issue. Storm in a teacup..
Lol. Hope you're not short on this one. Ouch!!
Yeah I agree 0.21 is highly unlikely now. Hoping with for 0.23. In the meantime think I will jump on DUST for a while. I have learned much with BAA over the past 18 months. Listening to all the to the moon bullcrap cost me dear. No more! From now on I am going to take a less emotional look at the situation. It seems to me BAAs debt given the MMs all the ammo they need to suppress with stock for the past couple of years. We're not out of the woods just yet
To da moon !
Lol. Let's see what happens. I'm with Tex here - dilution and overbought RSI. But who knows ?
POG bulltrap? GLD overbought RSI 80
Bull trap?
Overbought. Gold indecisive. Pullback ?
Dont tell me. Your crystal ball ?
You don't honestly believe that do you? The bear market in gold is over dude. Even the mainstream is talking every day about storm clouds gathering now. And investors are listening. China, Europe, South America and now the US. Refugees, war, terrorism. The data just a gets grimmer and grimmer every week. Explain how POG falls $250 in those circumstances? I don't see it.
Cheers GIM. Yeah I will keep an eye on BAA for a lower entry point
Yep knew I should have bought some DUST. Up 10% already.
Dude you said exactly the same thing last summer! Would you like me to find your post ?
Sorry this was for BF.
Lol. Yeah true I have a different perspective now, but the fact is RSI has always been a reliable indicator with BAA - especially when it gets over 80, which is did this week.
May well be, but 70 is considered overbought. Needs to get down below 30 - but that will take some selling.
Lol. I hear you. Short term overbought RSI is like 80. Just like GDX and GLD.
Agree. BAA is overbought big time at the moment. It could still rise but I personally avoid buying stocks when they are overbought. In fact GDX is way overbought. I'm seriously considering buying some DUST for a while. Falling knife at the moment though
Lol. You should know by now with this stock, anything is possible - including a ride back down. See last summer for more info :) In any case, there some tasty miners here on the LSE which I can trade in the meantime.
If this pulls back to 0.20-0.22, I am back in big time. It was a tough decision yesterday - I waited to see if we could get through that wall at 0.31, and POG is looking neutral at best, so I decided to take profits. Another factor was the sudden weakeness of the UK pound this week - so I got more £ for my BAA $. Hoping to be able to get back with even more shares on a retrace. Of course now the £ is weaker (its all to do with this EU referendum), I wont get as many BAA shares for my money. Oh well, just have to play it by ear. If we pull back enough it wil have been worthwhile. Also think Q4 is going to be the same old BS due to POG. Q1 thats a different matter altogether ..
Agree Badge. I don't think we will drop back to those insane levels again, but even a drop to 0.20 would be pretty crushing now. I am hoping to buy back at some point, as I feel as I have done more research on BAA than any other company. Plus I really like the forum we have here. GLA
Sold out for now. Sorry guys . Having held through last May's move to 0.40 and all the way back down to 0.16, I'm not prepared to go through the same again. Seems huge resistance at 0.32 to me and POG is looking indecisive. Hope to get back in again lower. We will see. Anyways its been great to chat on this board. Bye for now.
I just gets better. Can you imagine how much gold there is in all that land? I am guessing 80 - 100 million oz. Staggering
Another great day. Chart please Clay
That would be nice. Lets see :--)
Should also mention that once all four mines are up and running we are looking at up to 600 K oz per year. My guess is that this will be achieved by 2020 - by which time who knows how much more gold they will have in readiness for yet more mines to open. The potential here is astronomical. Thats why we have such fanatics on this board! No other miner has such potential growth
Welcome to the board. Congo has a better handle on this than me, but heres my opinion. There are many ways to value a company. Usually a company will show up cheap on one measure, but not so much on another. This is the unusual thing about this company - it is undervalued on EVERY metric. As the CEO said last year, Banro is a junior with abnormal assets. They have drilling rights on a vast swathe of the Twangiza Nayoya gold belt. Despite discovering over 12 million oz indicated and inferred, they have only drilled 12 % of the land! To my mind this is incredible. It suggests potentially 100 million oz - on a par with Barrick. Finally achieving commercial status on the second mine gives BAA an additional $100 million revenue this year. This revenue can be used to pay down debt, and, with the Chinese loan, bring the next two mines into production in the coming years. Potential production this year is up to 250K oz, putting us firmly in mid tier territory. Add to this, the impressively low AISC of around $600 per ounce, and you start to get an idea of where this is going. With POG where it is, BAA could well make a net profit of 120 million this year. Well, on per earnings of 10, the company will be fairly valued at 1.2 billion on that basis - making a SP of around $6. Then there is the gold equivalent metric ie EV/ resources. So EV is around 350 million, and discoved resources are 12 million oz. So you are paying $30 for every oz of gold! In a gold bull, expect to pay up to $500 per oz, depending on POG. Book value currently is up near $2. Given the major de-risking going on recently (Chinese deal, scrapping of mining code) , I personally think fair value is minimum $1 right now. This would account of geopilitical risk and lowish POG. Regarding debt, we are around industry average of 0.4, so to me this is manageable - especially bacause of the recent deal with the Chinese, which allows for the payments in 2017. Congo has more on this side of things. To conclude, I do genuinely believe this to be the most indervalued fold miner in the world today
BAA board closing in on 50,000 posts. No other mining board comes close. Says everything about this company imo. Its special
Your welcome Bro. Maguire knows what he is talkng about. I follow Maguire for technical analysis, and Adam Hamilton at Zeal for market analysis. Adam's essays are equally invaluable, and I always make sure I read them every Friday. He's been doing these free essays for 15 years, and they are a treasure trove of invaluable information. All of them are on their website, including the one where he called the beginning of the new gold bull way back in 2001. Be sure to read the latest ones. http://www.zealllc.com/
Another must listen interview with gold expert Andrew Maguire. Scroll down for audio
http://kingworldnews.com/andrew-maguire-exposes-what-has-shocked-traders-in-the-gold-market-all-over-the-world/
Which is exactly why investors should NEVER use stops imho. Example, I have 225,000 shares in BAA. Have not sold one, despite SP dropping from 0.21 to 0.12 last year. If I had stops, I would have lost big time. Rode this down and up and down again. and will again if need to be. There is only one way this is going medium to long term imo, so why on earth someone would bother with stops is beyond me. Stops are a gift to MMs. You might as well just give them your money.
12 million oz identified so far. 12% of land drilled. So potential 100 million oz. This is what Clarke means by abnormal assets. Two mines in production and 2 more ready to take into production. Trading at 0.23. Wow. Just wow.
Is there a more undervalued gold miner out there? I havent found one. Anyone?