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that's logical. given the reduction in rig count.
sds looks like it's about to bust out of wedge.
of course it's looked like that for two years....
might be volatile with jobs report tomorrow.
I'll watch how it trades tomorrow. might take a position then
US rig counts dropped again.
http://phx.corporate-ir.net/phoenix.zhtml?c=79687&p=irol-reportsother
I agree with several of your points.
It is still a thinly traded stock. These things happen even to the mega-caps. Rather normal market action.
I added today...just a little...just for fun.
now have 439,000 shares of BAA
my cost avg. is 0.1558 and I don't want to distort it too much. I don't think it will ever get to the level where I'll add another 100,000
4 CRITICAL PRESS RELEASES!!!
Yes they are profitable as of last Q
AISC $581
This is what you need to know.
Baa should not be a technical trade...i.e. the more you know the better.
read Blue's DD on the stickies too.
http://news.banro.com/press-releases/banro-announces-record-q1-2015-production-and-reve-nyse-mkt-baa-201505141007155001
http://news.banro.com/press-releases/banro-announces-record-q1-production-results-nyse-mkt-baa-201504061000458001
http://news.banro.com/press-releases/banro-announces-year-end-2014-financial-results-nyse-mkt-baa-201504071000581001
http://news.banro.com/press-releases/banro-closes-balance-of-us90-million-financing-nyse-mkt-baa-201504301004635001
Know these PR's inside out.
It's a good start.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=113976244
Perhaps the market spoke to us today and said this should not have traded below 0.30
YES he was right from 0.35 to 0.27 good trading.
a sizeable gain and that's all that counts.
A very good trade.
A 22.86% gain
His statements are still mostly nonsensical fraught with misinterpretations or misrepresentations.
YES he was right from 0.35 to 0.27 good trading.
a sizeable gain and that's all that counts.
His statements are still mostly nonsensical.
Perhaps a massive outside day.
50% RETRACEMENT OF MOVE COMPLETED?
If you draw a Fibonacci Retracement series starting on Feb, 27th @$0.15 to the peak at 0.40 We tapped the 50% retracement @0.27.
This retracement series if very interesting and lines up with support and resistance levels precisely.
23.6% is @ 0.34
38.2% is @ 0.30
50%... is @ 0.27
61.8% is @ 0.24
78.6% is @ 0.20
bought @ 113.30
stop @113.10
strictly a day trade.
Long Gld.
strictly a day trade.
stop at 113.10
added @0.28
yes quite thin...understandable.
I comprehend...
I trade a good bit...
But as for BAA I just hold it.
CFO generated $656,000 there.
you were able to follow that weren't you?
you were able to comprehend?
You combined the reading and math.
Congratulations
You've got to add the premium paid to the strike call price.
$1300 + $96 = $1396
Remember that gold was trading around 1300 at the time.
Also that was when they needed to be sure they could make their Feb. 28 interest payment of 8.75 million (aprox).
So it was a good time to sell the calls.
Theoretically, they would loose dollars over $1396. but then you have to discount the time value of the cash flow to the date of sail also, so lets say over $1410 they'd be in some theoretical red zone.
This just demonstrates the flexibility that BAA will continue to have in the future. And it will be magnified once Namoya is fully operational.
The previous CFO (the one before Jennings) was buying puts instead of selling calls.
Which cost them money...around $500,000 if I recall.
Jennings seems to be the better trader.
To answer your question...yes basically your correct.
They'd still get paid the $1300 or $1400 and also pocket the premium they were paid.
CFO- SELLING SOME CALL OPTIONS !!! (fun stuff)
In addition to the forward sails and streaming CFO Jennings also made some smaller trades to generate cash flow.
LOOKS LIKE HE'S A BETTER TRADER THAN I AM.
----One forward sail to Auramet
----Two Call option issuances.
From pg 15
http://www.banro.com/i/pdf/Interim-FS-Quarter-1-2015.pdf
(in 1,000s $US)
"In February 2015, the Company closed a gold prepayment arrangement with Auramet for $3,000 to deliver 840 ounces each for three consecutive months. The Company classified the obligation under the agreement as a financial instrument at fair value through profit or loss based on the intent, terms and nature of the agreement. The first delivery was made in March 2015. As at March 31, 2015, the liability to deliver the remaining 1,680 ounces was recorded as a derivative instrument at a fair value of $1,994 and a loss of $2 relating to the revaluation of the instrument was reflected in the interim condensed consolidated statement of comprehensive income/(loss). As at December 31 2014, the Company had an outstanding obligation, valued at $1,291, for the delivery of 535 ounces per month in January and February 2015. As of March 31, 2015, the Company had delivered all ounces for this arrangement and a fair value loss of $111 on this obligation was reflected in the interim condensed consolidated statement of comprehensive income/(loss)."
Doing the math --
3,000,000 / (840*3) = $1190.47 /OZ
that's about where spot is now.
b) Call Options
In connection with the gold prepayment arrangement in February 2015, the Company issued call options for the purchase of 6,000 ounces of gold in September 2015 at a price of $1,300 per ounce. The call options were initially recognized at their fair value of $96 and subsequently revalued as at March 31, 2015 to $50. During the three months ended March 31, 2015, the Company reflected an unrealized fair value gain of $46 on these call options in the interim condensed consolidated statement of comprehensive income/(loss) (March 31, 2014 - $nil).
generated 6000*96 = 576,000
"As at March 31, 2015, the Company has outstanding call options for the purchase of 1,250 ounces of gold per month for 4 months starting in June 2015 at a price of $1,400 per ounce. The call options were revalued as at March 31, 2015 to $3 (December 31, 2014 - $16). During the three months ended March 31, 2015, the Company reflected an unrealized fair value gain of $13 on these call options in the interim condensed consolidated statement of comprehensive income/(loss) (March 31, 2014 - $nil)."
generated 80,000
There are no market makers in BAA.
The misconstrued concept of what market makers do is floated around rather foolishly IMHO.
What is a market maker...do you know?
0.30 should be rock solid support
unfortunately I took profits yesterday.
did you look at sgg.
to thin for options.
stopped out ...what a bummer
SGG is at a possible inflection point
I doubled down on it this morning with a tight stop
will sell the shares I added this morning and keep original position.
My stop limit order is at 19.65
thought I'd get stopped out.
You might be better off with your options.
but you might have to ride out the entire entrancement first.
I will re enter at some other point if i get stopped out.
Where is your bearish factual data?
Thanks for looking into it.
Takes it off my to do list.
Then go buy Banro (the whole company for $10/share).
So we can all wrap up this trade and retire.
I'll be able to purchase my concubines.
Yeah...if i had that kind of money I'd be spending my time with my concubines, not writing all the cool strangers on IHUB. So if he does have all that dough...he's still really lame.
You know what the report is about... it is about moving measured and indicated resources into the proven and probable.
It will officially extend the mine life.
It will be a very good thing even if we don't get an instantaneous pop.
And the vast majority on this board understand that. I don't think it needs to be over simplified.
By the way I believe this management team will eventually move every single one of those OZ's (8.35 million) into Proven and Probable within the next few years.
Perhaps the reserve update will not move the stock that much.
This should be in the mid 0.70's based on financing, earnings, and production.
Speaking for myself I'm not worried about the short term.
PS.
I'll give a call if it is not out by the end of next week. I don't expect it will be so I'll give them a call or more likely write a note sometime in the next two weeks with a list of question.
GLD = 1.56x Volume
Gold price increase or stabilization is always good for BAA
Patience...it is no matter if the stock price is not an instant indicator of fundamentals.
It will get there. I have little doubt.
Hard Rocking the Gld
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=114179547
Added 50% of original position size on break of 1200
Resetting stop on original position from two trading days ago to 114.20.
Result = free long position.
probability of loss = negligible.
Yes true.
I know... was just taking the opportunity to point out that as a technicality the financials do not reflect the financing...thus, a the reason for some to hold back for a the next Quarterly results.
I believe that many institutions are holding back due to such technicalities stemming from their internal protocol and restrictions relative to the Quick Ratio and Current Ratio that is computed with the old data (Q1).
Which, of course do not reflect the current reality and increased liquidity that resulted from the financing .
Q2 financials should resolve that issue and many who have been leashed by their employers (the institutions & funds) internal threshold requirement will be unleashed and pile into the stock.
It would be advisable to be invested before that happens
Perhaps not...but you covering your shorts will.
4 CRITICAL PRESS RELEASES!!!
Yes they are profitable as of last Q
AISC $581
This is what you need to know.
Baa should not be a technical trade...i.e. the more you know the better.
read Blue's DD on the stickies too.
http://news.banro.com/press-releases/banro-announces-record-q1-2015-production-and-reve-nyse-mkt-baa-201505141007155001
http://news.banro.com/press-releases/banro-announces-record-q1-production-results-nyse-mkt-baa-201504061000458001
http://news.banro.com/press-releases/banro-announces-year-end-2014-financial-results-nyse-mkt-baa-201504071000581001
http://news.banro.com/press-releases/banro-closes-balance-of-us90-million-financing-nyse-mkt-baa-201504301004635001
Know these PR's inside out.
It's a good start.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=113976244
Send it to me I'm curious.
Would appreciate a bearish statement if based on facts.
Cheers to Keyotee!!!
Crowded...BAA???
Seriously....
Perhaps this message board is crowed with retail investors...true.
That's because institutions haven't started buying yet.
Typically they look for at least two Q's of good results. Also, the Quick Ratio and Current Ratio are based upon last quarters numbers and not inclusive of the 90 million financing.
The Q2 balance sheet will represent the financing that's been completed April 31.
Then off to the Races.
Mark it.
P.S. I don't base my investing decisions on how crowed a message board is.