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Email from martin said he is confident share price is going to recover - wonder what he meant by that
I think the new CFO probably looked at the deal that was supposed to be signed on Nov 30th, and said hold on, lets not rush this - maybe trying to get a better term..
First person i have seen to get under his skin
totally agree - seems to me that something is brewing. Martin doesnt seem concerned about delisting as he is confident share price will recover. I emailed him about that last week.
This will be interesting year for everything in general. Thanks for your input
We will see. Hopefully. Martin seems like he isnt worried about delisting. Wonder if something is
Cooking
I got another response for delisting :
"No - it takes a very long time before a delisting occurs and we are confident the share price will recover. "
TeamTOC - Any thoughts ?
Today volume was true selling and people exiting at end of the year, for tax purposes, or do you think it was just short attacking ?
Never thought i will see Banro at this level. I got a response from Martin. Gold price did take a huge hit. t will attract more physical buyers.
Martin said following to me :
"All I can tell you at the moment is that our Management team is focused on the replacement of the Senior Secured Notes maturing in March 2017 and we will update you accordingly as we continue forward."
Entire mining sector is taking a huge hit last few weeks. Seems to me that Management is in tight negotiations and i feel that the new CFO is trying to get better terms, since no announcement was made on November 30th. I also think it might be a game for bigger picture. Was there any insider selling / buying recently ?
Eventually, higher rates are bad for other countries. We will see how this works out for USA next year.
Anyone has thoughts on interest rate hike, gold price , and baa share price?
I made an assumptions that they did pay it in full, otherwise if they didnt, we would have to hear some kind of news, no ?
They did not tell me anything if they paid it or not - i am awaiting a response from IR on that one
I think they made their bond payment with gold sales. I do think that we will hear news before march :)
Congo - how do you feel about the new CFO? :)
cya
Just saw that - also they have to have physical gold to back it up when trading..
This will be interesting now
Yea we will see how this turns.
Interesting action with Gold - Same like last year at this time frame before gold went up. Low Volume though..
Dude ... seriously.. Are you trying to accumulate shares or something ?
This sounds lik a threat - removed.
Maybe you included it in there, and maybe you didn't, but, you do know, they mine gold every day, and sell it, right ?
So gold mined in OCtober, and half of November, which would probably be around ~25K (conservatively), at average price of 1200 comes out to be 30 M.. is if they were short 10, that 30 would have covered it.. if my math is correct..
Lol - you turned bear now too?
Totally agree. Interesting thinngs are coming
TeamTOC - You still around ? Thoughts on all of this ?
Knowing them, yes
If you lost faith in management team, how come you dont sell and move on bud ? You said you dropped 100k already?
Congo - why would you sticky his post ? Seriously... i know you are disappointed, but i feel you turned into a bear really quick..
Done -
Thank you - interesting read for sure
Congo stickied Masterview post.
Lets all be civil please
Some one is shorting gold like a mother due to thanksgiving tomorrow.. interesting.
Not me
So this will go up :) based on charts eventually ? :)
Yep - e-mail from Martin sounds like they are really working hard to get the debt refinanced. We will see what happens hopefully with that, we will be back in early 30's
now its strickly following price of gold. Also some one got out for sure.
Yep. totally Agree.
I think they know they pissed of a lot of people, and even Bayin now is not positive anymore. So i feel they are pressured to refinance debt ASAP, and get the stock price up. I too did receive email from Martin stating that before nov 30th announcement should come. I am betting for good news.
I have a buy order at .18 - please help me fill it. Please.
Even so - if namoya hits 10K - lets say 11K for argument sake per month, thats 33K from namoya, and lets say 25 from other mine. That would still only be 58-62 K the most. with gold prices lower, and not a HUGE production, still not sure they will have positive EPS. We will see, hope gold found its bottom.
My concerns -
Not trying to sound like a negative Nancy but, now i am a bit concerned. At price of 1260 +, they couldn't post a positive EPS. With new CFO Just joining the team, i think he will need 1 month to get acclimated on where things are standing. In addition, If it takes him 1 month to get his feet wet, that means that we probably wont hear anything about debt refinancing until January - Early Feb. At that time frame, the new equipment will be installed to produce more gold from Twagaiza, which tells me that Q4 might not be that hot looking, and lower Q1 as well, which will be again, negative eps for q1. I say approx 58-59 K again for q4. With interest rates going up, i think it might drop gold to 1150 this time. Numerous articles said that gold at 1350 was too expensive for people to buy, and we saw how easily central banks can manipulate the price within few hours. ( referencing to going up for Donald trump winning gold touched 1345 to end negative next day, estimates only).
That being said, tells me Q4 gold received might be 1220 - 1240, which we should expect another EPS loss for the Q. And if gold does go below 1200, when they will be profitable ? Only one thing will get the stock up for time being is the bond refinance, but, again, might be only temporary. How are they going to post positive earnings, stay on production levels,with gold around 1150-1250 range ? that is concerning to me with new president. As he did say he will "loosen" the rope on central banks..
Email From Martin - Yea not sure my friend - all i know is that they are dealing with some serious money in their accounts. I am also little bit concerned about the e-mail i just got from Martin.
Questions i posed :
Martin- hope all is well.
Q : Looking at the report from a shareholders view point seems every report for a while might be negative eps due to possible construction of hydro plant, fine crushing equipment installation, and possibly building underground mining activities. All of these things to me mean more debt, and negative eps.
A: The debt is an issue with investors and the Company's goal over time is to restructure the financial structure of the Company, with a greater emphasis on equity and a reduction in debt. The initiatives you mention, such as hydro and underground mining, will be done over time in a manner that does not unduly add debt to the Company. For example, hydro can be built and operated by third party, with Banro buying power.
Q: What was the main impact on lowering the guidance ?
A: The delay in receiving and installing the crushing equipment was a major factor. It should be delivered late in the fourth quarter and installed in the 1st q of 2017.
So the crushing equipment is now being delivered in 4th Q and installed in 1st Q of 2017? So does that mean Twagaiza will be low production until then, which should kick in gear Q2 ?