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I think it took from July 9 update:
Heap leach operations require several months of continuous percolation to fully recover the leachable gold. Thus, the process advancements from the second quarter, together with ongoing improvements to the heap leach circuit, are projected to result in monthly gold production of about 9,000 ounces once steady-state operating levels are achieved during H2 2015. Taking into account production at Namoya during the first six months of the year, together with the impact of delays in mobile equipment financing and the resulting delivery timelines on the ramp-up of Namoya, the Company has updated expected 2015 gold production from Namoya to a range of 60,000 to 70,000 ounces.
Banro pourrait atteindre sa plus importante production d'or en RDC, soit une moyenne de 6000 onces par mois.
I think it says 6000 oz per month
You should check how muck shares traded each day on Canada market and how much he bought. Ok, 1 MM shares bought should be 10 days total trading. Don't comment too much before fully understanding.
I think Namoya will have lower AISC than Twangaza because its heap leaching processing method.
Read this:
a lot of calculating mistake. if interest is at 10% for 12 years the $50 MM should become $157 MM. 50x{1+0.1)^12.
You made a sharpest point!
Shallow bashers can be easily recognized by general retail investors, Key is one of those shallow bashers.
Professional bashers cannot be recognized by most retail investors, the "Meat Head" is one of those bashers.
What is the difference between shallow bashers and professional bashers? one bashes without evidence and the other bashes by using distorted facts.
For example, Meat Head says "I see the company unable to generate sufficient cash to keep up its operations" while the CEO says "Delivery of a Positive Net Cash Flow position from Q3 2015". Who knows more about the company?
Meat Head says "They have zero chance of refinancing" while the CEO says "Refinance local bank debt by Q3 2015". Does anyone know BAA did not get finance or refinance when it needed?
Meat Head predicts 42,000 oz for Q3, that is less than Q2 44,850 oz. Do you think that is possible?
Waste time for me to find all of distorted facts in his lengthy garbage.
However, some people here even don't know his purpose.
bost, Yes, I am very embarrassed because I am a math professor in one university of the two from which you claimed you graduated. Although I don't believe you are my student because I always teach my students to make money by honest, not by cheating. However, when you want to sell BAA at $0.30 you say BAA how good while when you want to buy BAA back at $0.15 you say BAA will bankrupt. But everybody knows BAA is better and better day after day. If you are really one of my students I should shame on myself, embarrassed!
Don't be worry your English. We are here for sharing information, not for enjoying cultural art. Your writing is good enough to relay idea and information.
He cannot understand what you are saying. Based on:
you always keep silent when price up, and you always lower your target gradually when price down. so baa never touch your buying target, but md* did
No, They could not say Q3 even if it was Q3 because they could not publish important information in a presentation before it is publicly released. Presentation is not a press release
if you look at stacking data for june (142,082 tonnes in June), that should mean 30 days, not 5 days/week. If 5 days/week we should have 22 days working day at most. when 142082 is divided by 22 we got 6458t/day, but they said 5000t/day is maximum for june.
they said Q3/Q4, not Q4.
It means at least before the first day of Q4.
They said it today.
I also think the notice is a powerful force for Management to push price high with their all efforts. Without the notice I cannot imagine price will go to above $1 in six months, but now I think it is possible.
you like guess things, but don't like estimate things by calculation with data.
Q3 data will be very strong comparing with Q2 data.
read July 9 PR on Q2 Production Results, Namoya Update:
"As previously reported, the delay in financing resulted in a need to modify the mine plan to allow for the pre-stripping of the Kakula reserve pit. This modification impacted ore availability early in the second quarter as the mine fleet focused on waste removal in order to allow for increased access to mining faces when the first additions to the mobile fleet were commissioned in late May. This contributed to a decrease in the stacking level in April to 57,211 tonnes, which subsequently increased to 130,974 tonnes in May and 142,082 tonnes in June. The significant decrease in stacking levels from March's 103,163 tonnes to April was also driven by the adverse impact of unseasonably high rains which interrupted supply routes and the ability to deliver procured materials and supplies. The availability of ore from mining activities and the available medium grade stockpile material resulted in the stacking of ore with an average grade of 1.52 g/t Au. Namoya management is continuing to implement process modifications and upgrades, which are resulting in significant progress toward steady-state operating levels. Namoya poured 3,114 ounces in April, 3,315 ounces in May and 4,096 ounces in June, for a second quarter 2015 total of 10,525 ounces of gold.
During the second half of June and early July, Namoya achieved stacking rates in excess of 5,000 tonnes per day ("tpd") and is expected to increase to over 6,000 tpd by the end of July."
Two major problems for Q2 production at Namoya
1, Ore is not available for stacking.
2, stacked Ore grade is low because no enough ore for stacking is available.
They already said ore stacking rates in excess of 5,000 tonnes per day ("tpd") and is expected to increase to over 6,000 tpd by the end of July.
That means at least 50% stacking increase Q3 over Q2.
2014 Q4 and 2015 Q1 ore grade are close to 2g/t while 2015 Q2 ore grade is 1.5g/t. If Q3 ore grade for stacking is back to normal 2g/t.
We will exactly get Q3 production is 2x Q2 production for namoya.
Don't need think improvement of recovery.
Namoya is at commercial level now.
read this from page 16:
Namoya Ramp up Metrics
Plant Debottlenecking
(Mid July)
Mobile Fleet Delivery
(Sept)
Mine and Plant
Throughput Rate at
Design Capacity Q3/Q4
Mine and Plant Throughput Rate at Design Capacity means ramp up finished.
Economic Times: India imported 138t Gold In August. YTD 998t
http://news.goldseek.com/GoldSeek/1442408580.php
Russia Boosts Gold Reserves by Most in at Least Five Months
http://www.bloomberg.com/news/articles/2015-09-18/russia-boosts-gold-reserves-by-most-in-at-least-five-months
Shanghai Gold Exchange Withdrawals.
Shanghai Gold Exchange withdrawals were 73.69 tonnes of gold during the week ended September 11, 2015
https://smaulgld.com/shanghai-gold-exchange-withdrawals-week-ended-september-11-2015/
I am not sure if GBSN will follow AEZS or not.
But next whole week will be interesting for AEZS, price may pass $1.
1, although we have cashless B warrant threat, new comers don't know that because that information hides in deep.
2, If people simply search AEZS from Yahoo finance, they will find AEZS has $45 MM cash, no debt, 182MM shares outstanding, muti-phase 3 drugs on trial. And early Oct. will get update. So, people will easily evaluate AEZS above $200MM market capital. That means we will pass $1.
3, If people have AEZS shares already and want to take profit they should already do so because last Friday AEZS increased 130+%. So, the newcomers all will be net buyers.
4, Wallstreet and main medias all publish positive news and muti-dollars target on AEZS based on Friday AEZS volume/price action. These articles will reach many investors on the weekend.
5, Based on nature of AEZS bio-pharm, a bio-pharm stock price will easily decease 90% when it is in downtrend, but it also will easily increase 900% when it is in uptrend.
Next whole week will be interesting, price may pass $1
1, although we have cashless B warrant threat, new comers don't know that because that information hides in deep.
2, If people simply search AEZS from Yahoo finance, they will find AEZS has $45 MM cash, no debt, 182MM shares outstanding, muti-phase 3 drugs on trial. And early Oct. will get update. So, people will easily evaluate AEZS above $200MM market capital. That means we will pass $1.
3, If people have AEZS shares already and want to take profit they should already do so because last Friday AEZS increased 130+%. So, the newcomers all will be net buyers.
4, Wallstreet and main medias all publish positive news and muti-dollars target on AEZS based on Friday AEZS volume/price action. These articles will reach many investors on the weekend.
5, Based on nature of AEZS bio-pharm, a bio-pharm stock price will easily decease 90% when it is in downtrend, but it also will easily increase 900% when it is in uptrend.
Gold and Silver Coins, Bars See Very Robust Demand – Delays and Premiums Rising
http://www.silverdoctors.com/gold-and-silver-coins-bars-see-very-robust-demand-delays-and-premiums-rising/#more-58073
where you get the number? But I use the Sept. 18 filing to calculate
"In addition, 718,920 Series C Warrants were exercised via the cashless exercise provision in the warrant resulting in the issuance of 19,391,262 shares of Common Stock. As of the date of this report, there are 88,331,396 shares of Common Stock issued and outstanding.
As of the date of this report, there are 144,011 shares of Series E Convertible Preferred Stock outstanding and 15,365,663 Series C Warrants outstanding"
So, 718,920 Series C Warrants for 19,391,262 shares of Common Stock.
You can calculate how much will be for 15,365,663 Series C Warrants outstanding?
450MM is the least if the price keeps at 0.06 the price for Sept. 17.
If price goes lower much more shares needed.
Don't just guess, you need use number to calculate! Otherwise you will not know why when you lose money.
Before we always wonder if they can get money when they need it. Now after this PR we know they can deal with that kind of things at its will.
Yes, That means BAA management is friendly to its shareholders
you really misunderstood "they stated they were good for two years then 3 mos later get more financing".
They said "they were good for two years" because they got 90MM financing, not 50MM financing. After they paid 40MM high interest loan they have only 50 MM. Now they only get 16MM back to use from that 40MM paid for loan. OK, you should be happy if they did not payback that 40MM high interest loan and have another 24MM money (40MM-16MM) in BAA bank.
What a business model you should have!
You know after they paid back that 40MM high interest loan they can easily get 40MM money finance from banks, not just enough for two years, maybe for forever operation.
You are really wrong. This PR is most positive we have had.
1, the company used 40MM of previous 90MM financing to payback high interest loan. The management is not that stupid as you expected to save the money in bank and pay high interest for the loan. It indicates the management knows how to use money.
2, when the company needs money, it can refinance at its will so easy, but no any dilution. It indicates the company has good reputation in front of banks and the company also must be a good shape now.
3, The company refinance not because it needs money for survival, but because it is for "intended to allow for the increase in operational working capital at both Namoya and Twangiza ahead of the onset of the rainy season, in order to secure production activities and the continued ramp-up of Namoya."
4, not to say the high grade newly found mine ore.
Which one of the above four is negative?
People expect AEZS news from phase 3 trial, what news do people expect from GBSN?
totally different story!
At least 450MM shares left to dump if price not decrease further. But if price goes to 0.025 about 1-billion shares to dump; if price at 0.01 about 2.5-billion shares ready to dump
long way to go
"From September 15, 2015 to the date of this report, 100 shares of Series E Convertible Preferred Stock were converted and the Company issued 400 shares of Common Stock to settle these conversions. In addition, 718,920 Series C Warrants were exercised via the cashless exercise provision in the warrant resulting in the issuance of 19,391,262 shares of Common Stock. As of the date of this report, there are 88,331,396 shares of Common Stock issued and outstanding.
As of the date of this report, there are 144,011 shares of Series E Convertible Preferred Stock outstanding and 15,365,663 Series C Warrants outstanding".
http://biz.yahoo.com/e/150918/gbsn8-k.html
Now each C warrant needs about 30 shares, so if price not decrease further we need another 450MM shares for remaining C warrant.
muti-Phase 3 drugs are totally different from testing service. So, AEZS price is not revenue related, but GBSN is revenue related
I told you in my last response to you: "Don't be too greedy"
If you want have a position in AEZS it is better for you to buy some here, then buy more if things go as you expected.
I checked the volume. Before March the volume below 1 million. After the public offering to cashless B warrant started the volume increased to several millions. I think these volume came from B warrant holders' selling and got their original money back.Since August 11 the volume increased to a dozen of millions, but we don't have that many cashless B warrant shares exercised. So, some shares should come from retail investors who were scared by cashless B warrant.
I expect a balanced buying and selling from now on:
selling side, some newly exercised cashless B warrant and some retail investors selling now with expecting buying later for lower price.
Buying side, some B warrant holders who exercised their B warrant and sold them all earlier, and some retail investors who sold their positions earlier.
At current price, AEZS is surely undervalued. When the balanced buying and selling is favorite to buying side the price will increase hard. So, I got some shares at $0.05 level, don't be too greedy.
JP Morgan Loses 45% Of Registered Gold Stock In One Day!
http://www.silverdoctors.com/jp-morgan-loses-45-of-registered-gold-stock-in-one-day/#more-58041
suggestion of some big boy buying is also the reason for me to re-enter.
I saw a lot of big bid from level 2, above 300k, even million shares bid. So, I think some institutions who have no B warrant might be buying. I don't think many retail investors buy that kind of amount. Due to the B warrant fear, many retails are on the sideline; some sold and wait to buy back at lower. That is another reason for me to re-enter now, I don't want to compete them for shares later.
If it goes to $0.02, I will average down. But $0.05 not too bad, comparing with $0.1, 0.2 or 0.5 weeks ago. $0.05 is not real gambling, maybe just not real bottom. Nobody can really get the lowest, but get a price you think not too bad. Some people never get shares, for example, when price to $0.02 you will expect it to $0.01 or lower.
The question is:
Will the B warrant holders sell shares after they exercise the cashless B warrant? Or they already sold their public offering shares months ago?
I did different from you. I re-entered today. I am not sure if we will break $0.05 or not, but we touched $0.05 for three days and not break it. I think many people may think it is worth $0.05 at least even more dilution coming. The cashless B warrant is killing AEZS price and making AEZS surely undervalued. Let's calculate. We say if now AEZS has a final 1-billion shares at $0.05, the market cap is $50 millions. AEZS should worth between $10 MM and $ 1-billion (now $10MM and 2012 $ 1-billion).
The B warrant holders are mostly institutions. They are professional. So, I think they may completely sell their original public offering already to get their investment fully back and drive price down. Then they get cashless B warrant shares for free. Because these shares are free they may want to keep them all. So, we may not decrease price although the cashless B warrant continue conversion.
This is pure speculation, we may drop to $0.01 before B warrant finished. But I don't want an empty account for AEZS. Invest just that much I can afford loss all (now 210K shares, used the same money I sold AEZS Two days ago, but increased 10K shares).