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I will credit Blue for this since his post was easily accessible on the board sticky.
Taken from the financing deal announcement.
BAA got $100 million NON-DILUTIVE financing
BAA Management: "Companies liquidity needs have been met for 2 years"
"Management believes that the US$100 million of capital is more than sufficient to meet the Company's liquidity needs over the next two years as it completes the Namoya ramp-up, with a sufficient cash cushion to absorb normal course volatility in gold prices and production."
Good morning,
How are things? What's your take on the financing deal announced Friday afternoon?
It's because Gold is falling out of bed right now. Gold futures had a pull back since earlier this morning. They will stabilize and regain some of the morning drop.
You have to ask yourself: downside vs upside at this share price point?? Downside maybe 0.03 - 0.05 at the most. Upside 1.95 (conservative) over the next year if both mines run as expected.
jmo
If you purchase shares today or any other day for that matter. Make sure you set GTC on them (at a high sell price) so they cannot be borrowed against you to be shorted.
Careful not to cut it to tight. Often runners don't close gaps fully and then you miss the run north.
Don't forget to put your shares at a high sell value in a GTC (Good til Cancel) order so they cannot be used to short against you.
What is your cost average on all those shares?
That's a BUY
Just like companies fire/let go of employee(s) on Friday afternoon.
Approaching 2 hour Halt. This is a long one. Almost like an IPO trying to fix pricing before it opens for its first trade.
It looks like it. Those earlier trades were obviously not suppose to go through. Halt may have been scheduled for the open with no trades to be executed.
I am sure everyone has noticed. The volume has changed again. On my platform volume traded today is at 400 shares. At the halt it was ~194,000.
True but the 8.7M bond payment is due tomorrow. So they obviously had to take care of that issue and most likely were pressed for time to settle it. That is if this halt is the result of the bond issue payment.
Good Idea
there is no info on their website
Yes that's what it means
Td Active trader showing 193,000 trades this morning on BAA. But no trades "0" on BAA.TO
I have Active Trader for trading ($20 p/m)and TD TOS (demo model/free)for extra chart views. I don't get the buy vs sells with Active Trader or the TOS demo
Do you have a link to the site you are using for buys vs sells that you are getting that info from?
Since the open there has been a sell order of over 500k. Now there is about 250K left. These types of sell orders have shown up on a somewhat regular basis over the past months.
I have been thinking that for a while now. I have noticed that most of the large volume candles (over 100K and up) have been sells. And that has been going on for months with the occasional large buy candle during gold rallies from retail investors. jmo.
btw. I do have a small position (long) in BAA.
The article and analysis is written by Roberto Pedone. He carries a bit of weight.
Actually short volume has come down since Jan. 16
Those other stocks you mentioned are most likely profit taking, as well as the entire gold sector due to the most recent move in Gold price. As we all know that is not the case here. Very few (a handful of traders) or so were in any position to take profits on BAA as of late.
she wants down this morning. 1/3 the volume in 25 minutes.
the ~ 0.19 - 0.20 area is the Confirmation Point for the triple bottom that people were talking about a couple of weeks ago. Varies a little depending how you determine your low points and how lines are drawn. Myself, thinking its around 0.194
Corporate Update,
Banro also wishes to provide an update on the previously announced gold sale transaction with Gold Holding Ltd. ("Gold Holding") related to the Twangiza mine (reference is made to Banro's November 4, 2014, October 15, 2014 and August 18, 2014 press releases). This transaction contemplates the prepayment by Gold Holding to Banro of US$41 million for its purchase of 40,500 ounces of gold from the Twangiza mine, with the gold deliverable over four years, at 10,125 ounces per year.
"The closing of the transaction with respect to the Twangiza gold sale has been delayed due to ongoing internal issues relating to Gold Holding, but we continue to work with them toward closing, although in a more extended timeline than what was originally contemplated," commented Banro Board Chairman Richard Brissenden. "We expect that this transaction, or alternatives to address our liquidity situation, will be finalized in the near term."
As a result of the delay in closing the Gold Holding transaction and its effect on Banro's liquidity situation, Banro is progressing alternatives and careful cash management. These alternatives include discussing forward gold sale and gold streaming transactions with other potential investors, as well as ongoing discussions with its major trade payable suppliers to settle up to approximately US$16 million in accounts payable by way of forward gold sale arrangements. Further details will be provided once these discussions have been finalized.
As part of the Company's cash management, Banro and its subsidiary, Banro Group (Barbados) Limited, have elected to accrue the fourth quarter 2014 dividends on, respectively, the Series A Preference Shares of Banro and the Preferred Shares of Banro Group (Barbados) Limited.
Banro Q4 numbers
Twangiza Q4 29445oz / Annual 98184oz
Namoya Q4 8791oz / Q3 4671oz (88% increase over Q3)
Namoya agglomeration drum still not installed but is on route to mine site
BAA Q4 gold production and Briefing numbers out this morning
Well I don't know for sure. I'm trying to figure things out here like the rest of us. But, that is a very good possibility and if your asking my opinion I would lean towards yes.
Again, its just my feel on it from other factors like decreased Intuitional holders and BAA cash situation. I really hope I am wrong on that opinion however. Once the financing deal with GH is completed or not completed then we will all be in the know.
That's a fair enough guess. That makes sense as well.
I hope 2015 is green for you.
Well said John. That is 90% of traders. Great at buying, not so good at selling. I have that fault at times as well.
TeamTOC, I've evaluated the last 10 mins of the trading day as well as all the other minutes of the day. I don't need to evaluate it anymore than I have been already. I am just being forth right and saying what I see and not ignoring the fact. There were approx. 32k shares traded in the last 10 mins. But the difference between 25k and 30k doesn't matter really. It is still a small amount in relation to dollar value invested in the stock. About $4000 in the last 10 mins. Its just a small trader either starting a position or someone trying to bring their cost average down. You regret to notice the 78000 shares dumped at 15:40, 20 minutes before the close. Again at 14:49 199,500 shares dumped between 0.1313 and 0.13. Like I mentioned in my original message, notice the big volume bars, most often they are associated with a down candle/down s/p. This has been going on for many days. That's all I am saying. Good luck to all and their trading strategy.
TeamTOC message to me is below the line if others care to reference from it.
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BAA no doubt finished green by the skin of its teeth, but it really didn't trade much higher than .134 all day. Also, I think you need to go back and re-evaluate the last 10 minutes of trading. In the last 10 minutes (including the trade(s) that went at 15:49:54) almost all of the shares went off at .1349. There were 1,000 shares dumped at 15:57:13 for .1313 which would have closed BAA in the red for the day.
So I guess I'm going to worry more about the 25k+ shares that went off in the last 10 minutes that would have kept BAA in the green, more than the 1k that someone dumped in the last few minutes to try to close it in the red.
I've since closed my L2, but I'm also pretty sure those .1349's were all on the ask, so someone was buying at the very end of the day.
I'm not sure John, I'm not sure. Maybe there is still some fund(s) that have to cut out some loses before the end of year. I'm pretty sure that was going on a few months back when Institutional Holdings in BAA had fallen hard. Institutional share count, "Decrease vs Increase" is almost 4 to 1 in favour of decreased share count. ~79 Million to ~21 Million. If they are still doing it then I would suspect s/p to continue on the downward trend.
I think "potential" is the key word John. All penny stocks have potential to be 100 baggers. Although I do think BAA does have a better chance than most, however I don't think the s/p has fully bottomed. As we all know, this mainly depends on the GH deal, if the deal finalizes and "what" the revision of the deal may be from the original posting BAA put out a couple of months back. BAA finished green today by the skin of its teeth, only because someone purchased 2200 shares at the ask to take it out of the red. 2200 shares @ 0.1348, less than $300 invested. If you watch BAA on a 1 minute chart every day, you will notice that most "LARGE VOLUME" trades show a downward s/p direction. This has been going on for many many days. I think it has to go much lower unless there is news. I am watching BAA because I would like back in if GH gets settled, but not until then.
This is just my opinion. I wish everyone the best in their trading strategy.
Guess the close. Since there is nothing much happening here except that s/p continues on a down trend. Why don't we guess the close.
0.1248 jmo
very nice surprise here for longs this morning. A little Christmas present. Can she hold ?
Once the 157100 shares on the bid is breached I think you will see it fall to the low 0.11's quite easily. Not a good place to be adding shares right now. Of course this is my opinion only.
You can get it even cheaper if you wait. You must know that right? No one buying at this price, volume is very low (140,000 shares for a 0.12 stock in 2 hours ~ $17,000 traded equals nothing really), gold is trending down, STILL no 80M and 40M deal Officially announced/confirmed.
With volume this low and no real large bids on the tape then the only persons looking at this right now are small traders with shallow pockets buying a few hundred, a few thousand shares of a 0.12 stock. Its at the mercy of MM and the deal announcement which most definitely be increased favor of GH. They have BAA buy the n*** and know it.
So....Why buy now???
The trend is your friend