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The transaction was actually on Friday. On the TSX, so that's why .27. Maybe this gives an idea to who had been buying between .145 and .15 all of last week?
The more and more I look at today's volume, the more and more I wish the $100M Forward Gold Sale PR would've come today. Volume is still decent, but doesn't look like we'll touch the volume from Friday afternoon.
NETE looking good here. Some big buys coming in.
Yeah, looks like someone dumped ~100k right on the open.
IMRS - Ouch - wth?
GOLD is flying. $1223 now. That $1230 break would be huge for BAA. We may fly into the .30's and not look back!
Matt - What are your thoughts on IMRS and NETE this week? Do you think IMRS will continue its run now that it got the gap-fill to $1.05?
I'd like to see NETE get on a run again too, but it kind of looks like we might get back in that channel of trading sideways.
No problem. To Groenspan's point, it looks like they can pay back that money to cancel the deal at any time. So I don't really expect this to last the life of the mine...but it certainly isn't going to get paid back in a year or two either.
$BAA - They were going to have two transactions with Gold Holding, but neither went through. The plan with Gold Holding was going to be the $41M for Twangiza, and $80M for Namoya for a total of $121M.
By referencing the current deal, they are referring to what was PR'd yesterday with Gramercy. Also, I think they wanted to make a statement on why now they were only looking for $100M versus $121M that they were looking for just a few months ago.
AF - I agree that the $150/oz isn't as big of deal as some people think. They needed money, and will get $60M upfront. It's tough saying exactly how much they'll be selling at $150/oz, but it should be around 10000-12000 ounces per year. One thing new investors might not realize is that Banro is sitting on a lot of gold. They have plans for two other mines, and even with that they still have a ton of land yet to explore.
As for the info in your post though, the $150 per ounce is only for the Namoya mine. 10% of the gold production for the life of the mine, so it's not only a 3 year deal.
The two $20M transactions for the Twangiza mine both end after 3 years. There is no payment for those ounces that they deliver, other than the $20M upfront.
BAA - My take on this is that they now have what they need to mine their way out of their long-term debt issues. The last two Q's have been record-breaking for them in gold production.
To Matt's point, I'd say yes, they may have had to give some gold away to get the money now...but it's what they needed.
BAA - I was pretty sure on good news too. I'm going to be seeing lots of green on this one!
BAA - There is an $8.7M bond payment due tomorrow. That payment shouldn't be an issue though, as they have made some smaller deals with forward gold sales.
I have a feeling that this news is probably good news based off of the buying that's been going on this week. However, the longer this is halted, the more nervous it is making me.
Me too. Have no sell or stop orders in right now. There is no reason we can't run into earnings.
IMRS - I agree. The last few days have been fun to watch the last ~30 minutes into close.
IMRS - I didn't want to see it, but I'm really thinking it wants that gap fill to $1.05 before it moves higher.
NETE - I'm still holding. Dead even now. Volume has died off after that run up to $1.40.
Just last August or so. BAA was halted then, and it resulted in a run from ~.18 to ~.30.
I agree. I don't think 8.7M is a problem. I just wanted to confirm your post that there is the bond payment for that amount due 2/28.
$8.7M due on Feb 28th for bond payments
Damn. That is easy. Thanks!
I agree, someone is accumulating. I too have active trader pro, but haven't figured out how to look at the buys versus sells. Also, I can only use Fidelity's web version while I am at work, so I don't know if I can get that detail anyway.
From my earlier post though, I am wondering if someone is accumulating and is basically trying to suck up all of the shares between .145 and .15. As mentioned in that post, there was a huge bid at .146 and also a huge ask at .15. They have been there the past couple of days now (the big bid has been there for over a week). What really caught my eye though was how they both disappeared at the same time today. That's when I kind of started speculating that maybe one person cancelled their orders for the last couple minutes of trading.
If a retail investor wants to get out, then all the sudden their ask has to be .1499 or lower...Or, if someone just dumps, the big 100k+ bids that have consistently been in the past week or so around .145 will absorb most (or all) of the dump in shares.
Did anyone else notice that the big bid and the big ask on the L2 disappeared almost simultaneously a couple of minutes before close? Not sure what that means, but I'm curious if it's one person/MM that is locking us in this channel? I was watching the trades go through on Nasdaq too, and there was nothing with that kind of volume that went through in the last few minutes.
$IMRS - Lets Rock n Roll!
IMRS - Q4 ER date released.
http://finance.yahoo.com/news/imris-hold-fourth-quarter-annual-110100132.html
BAA and .30 - Not until the end of March...but I see no reason why it won't be.
That would be awesome!
$IMRS looking good here. If we can clear $1.20 and then ~$1.28, then we're off to the races. I think $1.40 or $1.50 happens easy. In fact, I see mid $1.60's (~$1.64ish) before we hit upper-trend line resistance from this latest run (mid-December until now). I'm just not sure the technical indicators will let us run that far before another pullback and reset, but time will tell.
MACD should be crossing soon too (probably Friday).
IMRS - Thanks. Was only able to grab 3k shares, but it's a start. Working on freeing up some more dry powder so I can add if needed, or to build up my position in NETE again.
IMRS - Well, took your advice and sold half my NETE and bought IMRS. Just wish I would've done it on the open this morning. Lets getting rolling to $1.50!!!
No worries. I knew what you meant. 1 month to go, and I have a feeling that those of us who have been accumulating (or have started positions down here) will be rewarded.
I know you do buddy. That's why I thought I'd ask. I thought I had NETE timed pretty well last week after the alerts hit Orions. It did bust through, but didn't keep the momo going. I agree that I think there is some accumulation going on here.
IMRS, I have missed the boat all of the other times since your first alert at .18. Was looking at the daily today though and WOW...That golden looks GOLDEN...Was also looking at the past couple of times when the Full Sto was this low and crossed, the BOOM! I agree with your assessment that this next run should take it to the $1.40's before a pull back.
That is 17k-18k ounces per month! And that sounds really good to me.
Hey Matt, NETE or IMRS? I am in NETE now, but I'm contemplating selling and jumping in IMRS. IMRS looks like it is ready to move soon, and move big.
Only have funds for one or the other though...Actually, I'd be selling my NETE for a small profit in order to buy IMRS.
Fazlice - Looks like the huge ask at .16 is now gone. Quite a few shares though between .1575 and .16 now though. One block of 39200 at .1575, then a number of blocks of 7500 at .1583 and .1584.
Well, there went a chunk of them. Keep it going guys and gals.
We need someone to go slap the ask for about 150k shares. Banrowaaoversold, buy some more please. That big ask at .16 is going to make it hard to go much higher.
Finviz shows Inst Ownership at 57%. iHub show Inst Ownership at 70%. No matter where you look, you are going to get a different answer. Email Naomi and ask her.
I think we'll be good. I'll make sure to post when I sell too. Then you hold for 24 hours after. If history repeats itself like it has about the last 5 times I've been in TVIX, UWTI or UGAZ, you'll be sure to make some coin. LOL
I've had the worst luck with premature exits as of late. The good news is that I seem to be timing my entries pretty well, but I'm leaving thousands on the table by getting out too early with small percentage profits.
Also in TVIX...In at 2.66. Holiday weekend (at least I'm pretty sure markets are closed Monday), and S&P getting back up near all-time high range. We'll see if we can catch a little sell-off before the weekend.