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I do not expect the same resistance at $.38-$.40 on this next push that we have encountered in the past. Just my opinion.
I think those sellers have taken their profits at the "double top" during consolidation.
4 hour chart starting to break to the upside.
Thanks JJ8
Patience will prevail...go BAA.
Would like to see a close above $.3341 today. (Mid-bolie on the daily chart.)
BAA getting a little jumpy here...
Observation:
BAA has basically flatlined since the June 15/16 insider purchases. Those purchases happened to coincide with two weeks to the end of the 2nd qtr. In the meantime if you compare the relative performance of BAA with GDXJ and GDX and $GOLD the stock is hitting new highs or about to.
In stockcharts the symbols would be...try it.
BAA:GDX
BAA:GDXJ
BAA:$GOLD
IMO the insiders were pleased with the end of 2nd Quarter progress or they would have waited on the stock purchases. Just my opinion.
At the risk of being in the "herd".
The analysts got burned last Q2 on the Namoya mine issues and I think are in a show me state of mind right now
Yup...negative .02 from the one analyst.
Earnings est. are for -.02 for the Q2 remember!!
Just my opinion but I still think this is continued good action in BAA. We have two insiders that purchased withing the last 30 days.
We are awaiting forthcoming production news.
Volume drying up as we test the 50 day MA once again. Yet we are still above the 50 day. Next week the $.48 52 week highs will come off and the new 52 highs will be at $.40 from when the Q1 earnings came out.
The reason I think that having the $.48 come off the 52 week high is important is that it will be easier to go thru the $.38-$.40 area.
Then we would have a stock holding while gold has dropped. We would have a stock that has RSI increasing against the overall market and basic materials sector.
Good Stuff. BAA just has to go on its own time table.
Oh, and anything above $.40 will now be a new 52 week high. Next week and beyond.
Oil Stocks are also finding some footing here. This is good for gold IMO.
Golden Star also has an negative announcement about one of its mines. Not that it has anything to do with BAA. Might be forcing money to move around short term though.
52 week high of $.48 should be dropping off this week also. By this time next week we can be at 52 week highs just by holding at current PPS.
This setup on the charts for BAA can be explosive. Just need a close at or above $.325 IMO.
Monday and next week should be interesting.
HAPPY 4th of July all!!
NUGT looks like they might be ready to go next week after hitting the expected $7.50 posted yesterday. For that matter the GDX and GDXJ. Might have one more day down on Monday.IMO.
Try this on stockcharts...BAA:GDXJ.
BAA Clearly out performing the junior miners. Uptrend intact.
Belly Laugh!!
A close today at or above $.325 on BAA is pretty important short term on the daily charts using the Elder Impulse System. Will be interesting to see what happens after lunch.
The 20 day MA is trying to turn up again after testing the 50 day MA.
If successful, this can be explosive. IMO.
Completely agree.
Congo. I was just using a worst case scenario that Namoya in the 2nd Q does not add to earnings at all and is accounted for in the "mine under construction" category. (Not that I understand this fully).
Worst case scenario is we have the same numbers we had last quarter in my opinion. However, that means another $.03 for a total of $.06 in the trailing 12 months (ttm). Pretty good for a $.30 stock. 5 x trailing PE.
I think the rest of the BAA efforts and attention would go towards the balance sheet IMO for the 2nd Q.
Oops...sorry. I had to buy a little more BAA at $.3049.
When Q2 production and earnings come in with back to back profitable quarters BAA will float up to its book value as more analysts get on board. Balance sheet should be improved quite a bit also with $70MM.
Unless we spent it all on CAT trucks to haul the Namoya loot to market!
Not sure exactly when the last update was on the Schwab research I am looking at. Schwab does not cover BAA.
The 6/2015 estimate is for -$.03. The Fiscal year 12/2015 earnings estimate is between $-.02 and $-.13 for the year!
So no wonder it is not getting followed right now. I believe the analysts got burned by the mid-2014 Namoya set back last year and are looking for back to back qtr's of earnings growth.
Market depth on BAA has gotten very thin in the last hour.
I see a $.35 ask staring at me.
Congo and the board question:
So if the Namoya revenue will not add to earnings in the 2nd qtr...we should be around the $.03 in earnings as in the first Q right?
Also, I see variances in the number of analysts following the stock. In some instances I see 1 analyst...on Schwab it shows 4 analysts following all with hold or sell recommendations.
Most consistent is that all analysts are looking for another loss in the 2nd qtr. I think this will wake them up when we are at $.06 for the ttm earnings and the balance sheet will be improved.
Thoughts?
This move up in BAA is even more telling with the performance of gold today.
$.38 does not look so far away after the sellers have gone away and the charts have reset. Just my opinion. Good luck.
Maybe now we will start to know the reasons the insiders were buying.
Last day of the quarter...no money manager wants to show gold in their holdings during a quarter like this. 3rd quarter will be different IMO.
Starting tomorrow or next week.
$.305 for me today also. Just slowly accumulating more shares.
Not a big player like you all though.
Thoughts:
This is the end of the quarter...would not expect new positions in gold until July 1 and beyond.
Typically there is a June low in gold which we have seen.
China in October.
Nice consolidation without giving up a lot of price while charts reset on BAA. Relative to most other gold stocks and gold BAA holding well. Still above up-trending 50 day MA and 20 day MA has now reset and can continue upward.
I like.
Good Day All:
Just looking at the daily chart, as we stated yesterday, the 50 day will have been tested again and a higher low will have formed IF BAA can hold here or higher through today.
Then those buyers that were trapped on the initial move to $.40 who would have gotten out on this most recent move down from $.38 will have gone.
Sellers would be thin.
We shall see. If holds in here at $.33-.34 the move thru $.38 to mid $.40's would not be so restricted.
All my opinion. I like fundamental the story of BAA. Just looking at the charts.
That is my thought OP.
I am in since $.42 and as low as $.14...I love the Banro story. As stated yesterday, the 52 week high will be dropping down soon also.
For my money we are still above the 50 day MA during lack of news. It does look like we can take out the double top at $.38 from here now though.
I can see close at or around $.34 today.
Enjoy the ride.
Anyone notice that the 52 week high of $.51 has been erased due to time?
That 52 week high will start coming down quickly due to the drop last year at this time of year. Soon we will be setting new 52 week highs after Thursday and wont have to be at $.51.
Just IMO
Personally, if the PPS stops in here ($.31ish) would make a higher low again...and set the stage for a nice place to attack the $.38-$.40 area where our management purchased a couple of days ago. Still above the 50 day MA.
Go BAA. Bot some more today.
I agree 100%.
This is Mr. Jones' response to my request for clarification on how the $20MM and $70MM in forward sales would be reported.
The gold sales transaction of $90M consisted of a $20M transaction in February 2015 and two transactions totaling $70M that were closed in April 2015. The transaction that was carried out in February was reflected in the Q1 2015 financial statement, which is available on our website. This can be used as a reference for understanding how the Q2 transaction may be reflected in the Q2 financial statements. These will be published in August. Unfortunately, we cannot discuss the accounting treatment for transactions that have not yet been discussed in financial statements.
While the accounting for a transaction is dependent upon the individual facts and circumstances, it may be helpful to take a look at how other companies, such as Teranga Gold or Hudbay Minerals, have accounted for similar transactions.
Regards,
Martin Jones
On page 15 of the Q1 financial statement according to Mr. Jones 2nd reply.
That is my thought also. However, we have all been concentrating EPS efforts on the Twangiza and Namoya income...seems we should be adding that $70MM also to the EPS. That will really make the story a good one when the Q2 time comes IMO.
Thanks for the reply TeamTOC.
Question from Friday...
Anyone know if the all of the $90MM in gold sales is booked as earnings in Q2 or is it spread out as the gold is delivered?
Thanks to all for the great DD. I have been here since last July at $.42 and love the BAA story.
Good Day All:
Been a while since Coach has been on the IHUB. I have been in BAA since July 2014 and initial position around $.42. Really got interested around $.14-$.19.
Thanks to all for the DD on BAA. I have a question for Blue, Congo, JJ8, et al.
If BAA booked the $90MM in gold sales in April's announcement, do they book the entire $90MM in the 2nd Qtr or do they spread the earnings out over time as the gold is delivered?
How does this $90MM factor in along with the commercial production from Twangiza and increasing production from Namoya for 2Q earnings?
Thanks again to all.
Coach.
Anvil that is how I read it also...Mineseeker was loaned the money not paid it back.