Follow me via twitter ~ raymu6
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Lol..I hear ya! These Chinese are playing with fire! Need to work some overtime just to stay afloat here! :)
Maybe just maybe we get a big fat divi to prop up the pps..gl to all holding here
Yes, no trades man, its kinda like cogv setup alil like this
Let's keep watch on this
More waiting...I'm going to do some painting, alot more interesting then watching this trade...can I say they suck?
It's a perfect setup but no trading, nothing available...hopefully this changes before the R/M is filed or PR'd
Share structure so tight might not ever get any shares but def worth some bait in the water..
679 for u now! Ty..happy trading
Hit 147
95 for u now...appreciate it
Sorry for delay
Hi Pinkbu just got u back 130 for u now..
I hate the people who follow someone then unfollow right after they get u too follow them, like why even do this? Anyways that's my rant for the day :)
Go ahead, I'm hope it goes back up from here but I suspect they need to sell more shares to keep this ship from sinking. I'm not following it weekly so just based on opinions only..
I will at some point b/c I just spent all available funds buying AT this morning, been crushed last few days, company has nice liquidity $261mil of which $158mil is unrestricted cash, only 120.7 mil O/S....1-2 yr hold for me
Bought a few this morning, 1-2 yr hold time
I see.. thank you, could be a good thing? get cash burn rate down by eliminating non essential?
As you can see I havent been following BGMD close enough lately
Where does this company go from here in your opinion?
Why the huge drop today? Any news?
Exactly, something just doesnt fit here, common sense would tell you to finish a project to generate cash flow asap then start and spend and develop other projects, I have been watching this ticker for many years, it all sounds good on those PR reports but then look at past Q's and it gets ugly fast...
Note to self, to early to buy any here yet...
BAA EV = $245 MIL About Enterprise Value
Enterprise Value (EV) is a valuation metric alternative to traditional market capitalization that reflects the market value of an entire business. Like market cap, EV is a measure of what the market believes a company is worth. Enterprise value captures the cost of an entire business, including debt and equity. It is a sum of claims of all preferred shareholders, debt holders, security holders, common equity holders, and minority shareholders - unlike market cap, which only captures the total value of common equity securities.
EV is considered the theoretical purchase ("takeover") price of a business because a purchaser would take on the company's debt, while pocketing the company's cash and gaining a right to all of the company's future earnings.
Hope ur right, just wish I started buying my first buys last week..lol
I think the market will see how undervalued it is along with the huge volume, should attract more buyers the following days, don't see multi day runners like we used too.
I'm holding till we get alot higher
Wow, and it's still climbing
Hope we get a multi day week month runner here!
Enterprise Value = $244 mil
Still not valued correctly by Mr. Market
http://www.theguardian.com/world/2014/aug/06/obama-drc-washington-summit-africa
Tex, that is the biggest reason why Banro's stock has been crushed recently imo and why we sit in the low $.2's
Yes, the mishap on the fines recently has not helped it's cause either but the fighting is kinda close to there mines and Mr. Market hates uncertainty like it's a plague or virus..
If our mines were in another country or part of the world this could be trading so much higher it's ridiculous
Just my 2.5 cents
Or they just dont care about there shareholders!
Looking to pick up more this week, glad was wable to grab more on the fire sale..
I want whats best for BAA, it might be selling some or parts off, or it might be better to try and wait this out and produce great, consistent numbers Q over Q and let the world (and Esp Mr. Market) see they can be steady gold producers. Or maybe a JV with China Gold might be the best course of action for BAA at this point in time? It has to get better right? Cant get much worse right? Or see it as a great chance to buy in, pretty safe bet per current market cap imo. Wish my first buy was last week but Ive averaged down quit nicely. Fall should be good too BAA, even more so if gold rises back over $1331 area
Good luck to all my fellow longs here, I dont follow this too closely now as Im hoping that it will help turn this around by the fall
Great, hope they respond this week. This game is getting old, balls been in there court for years, time for them to piss or get off the pot.
Hi EB, it sure does suck, and now the teasing and missed time lines make it much much worse atleast for me personally. Can't understand what is taking so long, I wish I spoke Chinese so atleast I could try calling to find out what's going on.
I would like them to announce the latest Financials now, summer downtime or not, sooner the frigging better is what I say..been long enough
This company is SO FRUSTRATING! Jees..let's get on with it already, one missed date after another, when will it stop? Share some financial info or put out another press release, cm on were burning daylight!
This company is SO FRUSTRATING! Jees..let's get on with it already, one missed date after another, when will it stop? Share some financial info or put out another press release, cm on were burning daylight!
No...no I was just curious of how you figured it, I agree. Now seems like the best time to get an offer, merger or JV of some sort. I'm kinda surprised we haven't heard from Banro yet by now. They see what's happening and I hope there not siting idly by just watching the carnage of our market cap. Should hear an update this week imo..the pro's still outweigh the cons here right? :(
How do you know this?
I would expect another update/PR soon from Banro, within the week just a guess but if I was running the company I would get something out ASAP.
I hear ya, I just grabbed a ton within the last half hour, took awhile for my order to fill as well, so I wouldnt trust the L2 showing currently...
I hope they send out another PR soon to clear it up and give a timeline of what there are doing next about the mine
I just heard back from IR on Banro...
The quality of the ore at Namoya is not in question – it is ‘easy’ ore in metallurgy terms and grade is as expected. It is the excess volume of fine material at the top of the ore body which has proven to be the challenge right now. The operations team on the ground proceeded through the early commissioning phase, as they would for any mine at this stage, tweeking solutions, volumes and processes. During the early weeks, they felt they could make the necessary and conventional adjustments to these elements to accommodate the higher than anticipated volume of fines – this was part of the natural course of commissioning.
Just this week, the operations team determined the extent of the modifications that would need to be made to the wet circuit as the early ore fines content is beyond the capacity of some elements of the processing plant. While the adjustments will cause some delay in reaching peak production, the mine can continue to produce gold from the gravity circuit (which also recovers most of the gold from the fines) and the heap leach process, which is designed for the coarser material. The projected gold production is as outlined in the July 9 press release.
As mining continues into the orebody, the fines content will decrease as the ore becomes more competent. However, to reach the lower levels of the ore, mining must proceed through the upper levels, thus the upgrades and adjustments to some elements of the plant at this stage.
Regards,
Naomi Nemeth,
Vice President, Investor Relations
Banro Corp
E: nnemeth@banro.com
T: +1 416 366 9189, M: +1 416 903 0811 TF: +1 800 714 7938
www.banro.com
Description: cid:image001.gif@01CA61F3.46580040
I basically asked them if they just did realize the type of ore they were working with? Did they just realize the equipment they spent millions and millions on will not work with that type of ore..this is a huge RED FLAG for me, and not to be taken lightly..because they must of spent alot of money on testing to know what type of ORE they had, so theres really no excuse in my book..I was looking for a response to this VERY SERIOUS QUESTION
My guess is they were not going to say anything and were praying there machine would work without having to speak more about the issue and its just goes away, THIS IS NO WAY TO RUN A HUGE MINING COMPANY!! Thats like please dont tell Dad I screwed up the machine, on a mom and pop organization...jees
Please send them an email and calls until we get this question answered!!
I have to agree. Thanks for the insight. .I'll be one of those with funds ready just in case it dips further...
Still no response, I will send another email tomorrow, if still no response I will call them and post here..
So are we going lower tomorrow, sideways or possibly north? Have we seen the worst or is there still some that want out at all costs no matter what pps?
Anyone..
Will do..I will definitely share with the board if they do have a response.
Same here, just can't seem to stay away..bought more and will keep buying if it drops further
I'm very upset about how they presented this last PR and could go off but it won't do any good, I did send them a pretty nasty email this morning detailing exactly how I felt about it
BAA $.4's hitting on sale..
A Recession, Under-Reported Inflation And A Run On Gold from Seeking Alpha...
Jul 5 2014, 14:49 | by James P. Montes
includes: GLD, SLV
Summary
US is nearing a recession according to the latest GDP data.
Are gold stocks missing in US vaults?.
Currency wars to intensify.
Real GDP figures are under-reported, meaning the United States is nearing a recession and, with physical gold stocks missing from US vaults, when there is a rush from paper currencies, there will be no gold to buy.
The US government recently revised the GDP growth figure for the first quarter down to -2.9%, which means the economy shrank. We are also probably going to have a negative second quarter. The Wall Street guys, whose job it is to sell financial instruments, attribute the poor performance to the weather. However, poor weather may keep people out of stores, but any decrease in sales is usually offset by fuel use for heating, which is included in the GDP. Clearly weather is not the excuse…What it implies is that we may officially have a recession declared later this summer…QE did not work…It did not revive the economy. After unprecedented money creation and unprecedented change in fiscal deficits, the economy still turned in negative growth.
The situation may be far worse than government figures suggest. According to Dr. Paul Craig Roberts, the deflator converter used to convert the nominal GDP into real GDP, is incorrect. The government uses a figure of 1.25% to adjust for inflation. " You can easily add to that number two full percentage points." He said. If you deflate the nominal GDP by 3%, then you get a much larger drop in GDP growth, about a 6% drop.
The debt/GDP ratio is also, therefore, much worse than reported. "Since the government has been understating the real inflation rate dating back to 1980," Roberts argued, if you take a reliable measure of inflation, and use that to deflate the US GDP, "you wouldn't have anything like the $17 trillion in GDP…That means the debt to GDP ratio is much higher than reported…The whole thing is a fraud." Roberts believes "US GDP is probably closer to $12 trillion…The situation is far worse than the figures reported to the public."
Given such figures, the United States is on the verge of a recession, which means a further drop in tax revenues and a further increase in debt. Roberts called it, "An amazing crisis waiting to happen."
Recently, Germany announced that it is content with storing their gold at the New York Fed?
The United States does not have the gold and cannot deliver it. They have forced Germany to stop asking for it…The implications are nobody will get it [gold] back. It has been suspected by many for years that the Fed has used up all the US gold to suppress the price of gold, and then started using the gold of others stored there on trust. We have seen more and more reliance on dumping huge amounts of naked gold shorts on COMEX…to knock the gold price down. The US was protecting the dollar from QE by shorting the paper gold market. They've mainly been controlling the gold prices using naked shorts.
With a recession looming and QE failing, a catastrophe is looming. The worst part of the catastrophe is a currency war environment and they won't be able to get into gold because the Chinese will have it all.
Even today, if the holders of all of the contracts for gold, demanded that the contracts be settled in gold, it would be impossible and most likely we'll see a default. What happens when the change takes place that the people who have these contracts are unwilling to settle in cash and want to take delivery? The United States has run through its stock of gold and the stock of gold it is holding for other countries, so there is no possibility of making delivery on very large orders. When that happens, there will be an astronomical run on gold.
Past, Present and Futures Swings
For the third week in a row the price of gold and silver managed to close above its 50 day MA respectively. This very is strong confirmation the weekly trend has turned up from neutral for the precious metals markets.
Echoing my comments recently, "The gold market rejected the low of $1250 that coincided with the 9-day MA, and found good buying support on high volume. A very good indication that we have some new players back on the long side for silver and gold, increasing the probability that the $19 levels for silver and $1240 for gold are fundamentally supported by technical and fundamental reasons."
With gold and silver dropping to the levels of support mentioned in our last report published in Seeking Alpha, they found the technical and fundamental support needed to complete a major long-term bottom on June 3, 2014. This is approximately the mid-point to the 180/360-degree cycle that created the high in the middle of March and projects an extension of time and acceleration in price towards the middle of September of this year.
The test of the June 3 low confirmed the latest swing trade bottom and advanced to the corresponding swing trading targets and weekly resistance levels of 1316 for gold and 20.79 for silver as documented in previous reports.
I also said, "Short-term, intermediate and long-term traders/investors should use this final window of opportunity to trade short term and accumulate to build a long-term bullish position as current prices trade around the $1,240 range and are truly in a historic environment when fortunes can be made in a relatively short period of time. The next 2 to 3 years will go down on the books as such a period of time in history for the yellow metal and current prices will be a thing of the past."
In a weekly report published for the Equity Management Academy last week, I made the following comments for the gold and silver markets:
"Cover short on corrections at the 1312 - 1309 levels and go long on a weekly reversal stop. If long, use the 1309 level as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 1323 - 1.331 levels during the week."
"Cover short on corrections at the 20.67 - 20.44 levels and go long on a weekly reversal stop. If long, use the 20.44 level as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 21.17 - 21.43 levels during the week."
As we can see all swing targets have been completed and accomplished for both metals last week.
Gold and silver corroborated expectations for a June-September advance documented since December 22, 2014 by spiking to new lows in the month of June and testing critical long-term support. Rejecting the lows made on June 3, then surging to make an outside monthly close reversal it confirms a 2-3 month advance. This scenario fits perfectly with previous analysis we've documented and published in Seeking Alpha.
For a more detailed technical picture, let's take a look at the weekly gold and silver markets and see if we can identify trading/investing opportunities for next week.
GOLD
The June gold futures contract closed at 1320. The market closing above the 50 day MA (1299) is confirmation that the weekly trend momentum is bullish. A close below the 50 day MA would negate the weekly bullish short-term trend to neutral.
With the market closing below the VC Weekly Price Momentum Indicator of 1322, it confirms that the price momentum is bearish. A close above the VC Weekly, it would negate the bearish signal to neutral.
Cover short on corrections at the 1308-1300 levels and go long on a weekly reversal stop. If long, use the 1300 level as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 1333 - 1.347 levels during the week.
Yes, very nice post, couldn't agree more.
Thx again