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Clarification. I called TDAmeritrade when this date was first announced weeks ago to ask them about the Aug 13 deadline, I was told by TDA , at that time ,that they were complying with a federal regulation & that applied to all US brokers. Today I called to reaffirm & now they tell me that is a TDA only policy & does not apply to any other brokers. Sorry for the inaccurate info from TDAmeritrade.
Brokers are not acting as regulators. All US brokers, not just TDA, have to comply with this federal regulation on Aug 13th. NO buy orders executed, only sell orders.
Nothing but pure hopium & gambler speculation. Maybe yes, maybe no. The market is betting Sharp will fail to file by Aug 13th.
LOL. Of course you can buy after the stock is current. LOL!
Sharp knows what's going on. That is why Sharp has to file before Aug 13th. The market thinks Sharp won't file by that date, That is why the stock has been getting hammered for the last month.
The MMs could be buying for their own account.
What happens if Sharp doesn't file for a month or two? According to TDAmeritrade, after Aug 13th, no BUY orders can be executed, only sell orders. Could the sellers then hammer the stock price down to triple zeros with no buy orders to offset the sell orders? Sharp needs to file before Aug 13th to avoid this possibility.
What happens to GVSI share price if financials are not submitted by August 13? At that time, according to TDAmeritrade, MMs can only execute sell orders, not buy orders until filings are submitted. TDA claims this is caused by federal regulation & applies to all USA brokers.
According to TDAmeritrade, if Sharp does not file financials by August 13, you can only sell GVSI, you cannot BUY GVSI. All sellers, NO buyers.
Very ominous if Sharp does not file before August 13.
The ominous bad news about the indeterminate delays of the construction of the central shaft hammered the stock.
CMCL stock spilt? LOL. It would be incredibly stupid for CMCL management to split a $20 stock.
Once again the ugly, the never ending, sky high political & economic risk of doing business in the reviled Zimbabwe is causing mass selling & a declining stock price despite $ 1750+ gold prices & managements claim that Blanket fundamentals are very strong. Even a raise in the dividend is not enough to offset the very high political & economic Zimbabwe risk. Bottom line, ZIMBABWE IS A BASKET CASE ECONOMICALLY & POLITICALLY......................................................................
Zimbabwe: On the edge again?
Zimbabwe is being buffeted by its worst economic crisis in over a decade, including scarcity of basics like fuel and cornmeal
Agence France-Presse
@afp
Published 11:30 PM,
HARARE, Zimbabwe – A Zimbabwean shopper in a Harare supermarket shook his head, grumbling as he returned a loaf of bread to a rack after finding the price had jumped by a third and he could no longer afford it.
Nearby, a more than kilometer-long (half-mile) queue of cars waited for petrol at an empty fuel station in the hope it would receive a delivery.
Zimbabwe is being buffeted by its worst economic crisis in over a decade, including scarcity of basics like fuel and cornmeal.
Prices of basic goods gallop every week as the value of the Zimbabwean dollar continues to tumble, pushing official annual inflation to 785.6% in April.
Poverty is deepening among the majority of the population – United Nations aid agencies say some 7.7 million people, or half of the population, require food assistance.
A loaf of bread went up 36% last month and last week a 10-kilo (22-pound) sack of cornmeal jumped 30%.
'Things cannot continue this way'
On Wednesday, June 24, the price of fuel soared by up to 152%. A similar rise in January 2019 sparked countrywide demonstrations in which at least 17 people were killed.
"Things cannot continue this way. These people should just admit they have failed," said Harare resident Timothy Bhaureni, referring to President Emmerson Mnangagwa's government.
Mnangagwa, who took power in 2017 following a military coup pledging to revive the moribund economy, now blames the economic malaise on unnamed "political detractors."
"We are witnessing a relentless attack on our currency and the economy in general through exorbitant pricing models," Mnangagwa told his ZANU-PF party's politburo on June 10.
"This battle is being fueled by our political detractors, elite opportunists and malcontents who are bent on pushing a nefarious agenda," he added.
"It has become apparent that among us there are wolves in sheep's clothing," he said last week.
'Economic sabotage'
In a dramatic move, and adding confusion to an already restless population, the government on Friday night, June 26, suspended all mobile money transactions, the most widely used platform to make and receive payments in the crisis-ridden country.
It took the decision "to deal with malpractice, criminality, and economic sabotage."
But in a notice, the largest operator EcoCash, defied the order, urging its more than 10 million users to continue transacting.
The hardship and chaos has spurred discontent among ordinary people.
The Zimbabwean authorities have in recent weeks targeted opposition activists and lawyers in what is seen as a tactic to strike fear into the population.
An opposition lawmaker and two party activists were last month abducted and then tortured by unidentified men, according to the victims, who spoke from the hospital where they were being treated.
Police later arrested the trio, accusing them of faking their abduction and torture.
'Instability, the new normal'
Three weeks ago, security forces suddenly heightened security, turning back cars and buses heading into the center of the capital, spawning speculation about a possible looming coup.
Rumors of an impending coup were quickly dismissed at a rare press conference attended by the country's security service chiefs.
"There is no coup in the making," declared Home Affairs Minister Kazembe Kazembe.
University of Zimbabwe's political scientist Eldred Masunungure said the situation "points to volatility in the country, a comprehensively volatile situation both politically and in the economy where it's very visible as it affects the livelihoods of the vast majority of the people."
"Nothing points to stability, but I don't want to overstate this because we have reached this crossroads many times before and the country has not collapsed."
"The default position in the country is one of instability. It appears like the new normal," he said.
Economist Prosper Chitambara of the Labour and Economic Development Institute of Zimbabwe think tank said Zimbabwe was on the brink of another round of hyperinflation.
The country's inflation breached the 500-billion-percent mark in 2008, forcing it to trash its own currency.
"We are headed for tough times with the loss of value of the local currency. The economy is not growing," said Chitambara.
"We are on the verge of hyperinflation. This increases economic uncertainty which is detrimental to private sector investment," he said.
The World Bank predicts Zimbabwe's economy will contract by 10%.
Terrific news. The quarterly dividend has been raised to .085 cents.
If the divided continues to be paid & is raised significantly, the stock could trade around $20. The fact that CMCL is located in the very high political & economic risk reviled Zimbabwe is why CMCL is not trading at about $20 right now
"From .03 to $16.00........... That is what one calls ACCOMPLISHMENT............... Who says otherwise, does not know what they are talking of".......A one year $463/oz increase in the price of gold & the crucial CMCL dividend is the accomplishment.
Since the Zimbabwe government repealed the indigenisation law that forced CMCL to sell 51% of Blanket, why doesn't CMCL now own 100% of Blanket as it did before the law was passed?
CMCL breaks out to a new 52 week high on heavy volume. Terrific time to raise the dividend with gold over $1700/oz.
The reason the share price plunged after the news release is CEO Steve Curtis put the future payment of the quarterly dividend in doubt..."The board will review Caledonia’s future dividend distributions as appropriate while considering the balance between delivering returns to shareholders and pursuing the significant growth opportunities within Zimbabwe and in line with a prudent approach to financial management.” ...Curtis is clearly ignorant of the fact that the overriding reason CMCL shareholders own & potential gold stock & income seeking investors would buy CMCL is because of the dividend. The dividend is the reason that gold stock investors would buy a one mine only stock located in Zimbabwe, a country that has extremely high political & economic risk. There are many other gold stocks to choose from that are located in countries with much less political & economic risk than Zimbabwe. Without the dividend the CMCL share price would be much lower with far less volume. Blame the price decline on Curtis for his ignorance & insensitivity of how important the dividend is to the CMCL shareholders & the share price.
Afford to pay the dividend? At $1600 gold, the dividend should have be raised.
Responding to the all important dividend being restored, Caledonia mining on the Toronto exchange has made a new 52 week high.
Bowing to shareholder pressure, CMCL management, realizing that they made a big time blunder by panicking & cancelling the April dividend for no valid reason, have now reinstated the April dividend that was wrongly cancelled.
The proxies for the annual general meeting have been sent to CMCL shareholders. All CMCL shareholders should vote AGAINST the incompetent management team of Steve Curtis, Dana Roets & Mark Learmonth, Send these blundering, over compensated, anti shareholder bozos a strong message that the CMCL dividend is the primary reason that gold stock & income seeking investors own or would buy CMCL stock & that cancelling the dividend is NOT in the best interest of the shareholders & is totally unacceptable.
At $1700 gold, CMCL should be making big time profits & the share price should be at least $15. However, CMCL is now a very undervalued & laggard gold stock because of the ignorance, incompetence & stupidity of the CMCL way overcompensated management team of Steve Curtis, Dana Roets & Mark Learmonth. These clowns PANICKED & cancelled the April dividend for no valid reason. The share price & all CMCL shareholders are now paying a very steep price for CMCL management's ignorance & stupidity.
CMCL share price would have already had a break out & a new high if CMCL incompetent, anti shareholder management had NOT cancelled the April dividend.
conix posted: "The CEO needs to step up and cut the team's pay until the dividend is restored."....... You can take it to the bank that the management team of Curtis, Roets & Learmonth will NEVER reduce their undeserved, bloated compensation. They are way to greedy & low character to do what is in the BEST interest of all CMCL shareholders.
This is what a pro shareholder, competent management does: "Newmont (NEM) Announces Hike of 79% in Quarterly Dividend". This is what anti shareholder, incompetent management does: CMCL CANCELS April dividend.
conix posted: "Management needs to reinstate the dividend next quarter--or take a pay cut." Terrific post. Major league, anti shareholder blunder by CMCL management.
"What good Management Means......." The reason that CMCL is trading at a pathetic 3x earnings with gold trading over $1700/oz, is because of the incompetent, anti shareholder, way over paid management team of Curtis, Roets & learmonth. These bozos made a big time, anti shareholder blunder when they PANICKED & cancelled the April dividend when there was no reason to cancel it. This blunder is a very clear example of the incompetence of the bumbling CMCL management team.
Here is the total compensation for CMCL management for 2019. Steve Curtis- total compensation $730,291, Dana Roets-$662,292, Mark learmonth-$662,292, Adam Chester-$384,563. Total compensation for these four is $2,093,331. This total compensation is undeserved,obscene & clearly displays their incredible greed. These anti shareholder clowns cancelled the very affordable April dividend, stealing cold hard cash from shareholders who depend on the dividends as a source of income, but they did NOT reduce their bloated compensation. Shame on these greedy, incompetent bozos. The number one responsibility of CMCL management is to increase the wealth of the shareholders, not just themselves.
Covid-19 measures affect Blanket Mine’s gold production targets
6th April 2020
By Alois Vinga
"THE ongoing three-week long coronavirus lockdown will affect Blanket Mine’s gold production targets as the mining giant is forced to reduce its workforce for social distancing purposes.
“This will reduce the number of employees who can work underground and will result in daily production running at approximately 70 – 80 per cent of the target production rate,” the mining giant said.
Blanket has been permitted to continue with its operations after demonstrating the ability to uphold mining based on Covid-19 standards"....................................................................Blanket operating at 70-80% & the anti shareholder CMCL management team of, Curtis, Roets & Lermonth cancel the April dividend, stealing cold hard cash from all CMCL shareholders who depend on the dividend as a source of income, while these incompetent, self serving, greedy bozos continue to receive THEIR FULL COMPENSATION. All CMCL shareholders should contact management & tell them to reinstate the April dividend immediately.
The irresponsible, greedy, anti shareholder, self serving, way over paid CMCL management team of Steve Curtis, Dana Roets, Mark Learmonth, & Adam Chester, by eliminating the April dividend, has knifed all CMCL shareholders in the back & should be replaced by PRO shareholder, competent management. Not only has this anti shareholder, unnecessary at this time, elimination of the April dividend robbed all CMCL shareholders of a source of cold hard cash income, this anti shareholder action has caused a severe drop in the CMCL share price, currently down 7.5% on the day & down a whopping 38.5% off the high with gold trading over $1600/oz. This is a perfect example of the incompetence of the current CMCL management team. For gold stock investors, there is absolutely ZERO reason to own or buy CMCL stock except for the dividend to compensate for the very high political & economic risk of doing business in the reviled Zimbabwe. Displaying their own personal greed & spitting in the face of all CMCL shareholders, CMCL management while eliminating the April dividend, have NOT greatly reduced their obscene, bloated salaries & terminated their undeserved stock options. The number one responsibility of CMCL management is to INCREASE the wealth of the stockholders, not just themselves.
CMCL's management has voted themselves undeserved bloated salaries. For the year 2018 CEO Steve Curtis salary was $450,000. Total compensation $575,562 salary plus options. Dana Roets, chief operating officer- salary-$418,182. Total compensation salary plus options-$512,678. Mark Learmonth CFO - salary $410,000. Total compensation, salary plus options-$493,267. Adam Chester, general council- salary-$359,178. Total compensation, salary plus options-$406,882. This total compensation is obscene, bloated & undeserved. These greedy clowns also have the nerve to grant themselves achievement options in addition to their bloated salaries. These options are NOT based on share price performance because these bozos don't have the testicular fortitude to base their achievement options on share price performance. No management team should ever be granted achievement options that are not based on share price performance because that is NOT in the BEST INTEREST of the SHAREHOLDERS. Basing achievement option on share price performance is in the best interest of the shareholders. It is obvious that CMCL management does what is in their own best interest, not what is best for the shareholders. The number one responsibility of management is to INCREASE the wealth of the shareholders, not management.
CMCL management cancels April dividend. Another totally unnecessary, anti shareholder action by the greedy, self serving, way overpaid CMCL management. The April divided is easily affordable. CMCL shareholders depend on the quarterly dividends as a source of income. If the virus restrictions continue, the July dividend could have been cancelled if necessary. Notice that Curtis, Roets & Learmonth have voted themselves total yearly compensation, bloated salaries & options, of about $500 thousand each. However, these greedy bozos didn't offer to reduce their salaries & cancel their options until the dividend is restored.That would have been in the best interest of all CMCL shareholders.............
Caledonia Mining Corporation Plc: Deferral of April 2020 dividend decision
Today : Thursday 2 April 2020
Caledonia Mining Corporation Plc (“Caledonia” or the “Company”) (NYSE AMERICAN: CMCL; AIM: CMCL; TSX: CAL) announces that due to the uncertain business environment associated with the COVID-19 Pandemic, the board of directors has decided to defer its approval of the declaration of the second quarterly dividend of 2020. The board will keep this decision under constant review as it monitors prevailing market conditions.
Production at Blanket continues, although at a lower rate than targeted due to the introduction of measures to reduce the risk of infections being transmitted amongst its employees. Blanket also has consumables and spare parts in its inventory to sustain uninterrupted gold production well past the end of the current lockdowns in Zimbabwe and South Africa.
Caledonia has paid a quarterly dividend since 2014 and the payments are an important element of the Company’s strategy to create and enhance shareholder value. Provided the measures taken by the Zimbabwe and South African governments do not result in severe and/or prolonged interruptions to operations, the effect of such measures should not impede the Company’s ability to resume the payment of quarterly dividends.
Caledonia’s cash position on March 26 was $12.5 million. At the current quarterly dividend rate of 7.5 cents per share, the dividend payment that was scheduled for payment in April amounts to approximately $860,000, less than seven per cent of Caledonia’s currently available cash.
Leigh Wilson, Chairman, commented:
“The COVID-19 pandemic has elevated global levels of uncertainty. I have full confidence that our business will emerge from this situation substantially unchanged, but, out of an abundance of caution, we have decided to defer the dividend decision until we have greater clarity on the wider implications of this highly fluid situation.
“The resumption of dividends will depend on, inter alia, Blanket maintaining a reasonable level of production; receiving payment in full and on-time for all gold sales; being able to make the necessary local and international payments and being able to replenish its supplies of consumables and other items.
“Our balance sheet remains in an enviable position and the dividend remains comfortably affordable. Today’s announcement is a continuation of the prudent approach to capital allocation that we have followed for several years - a path that we expect to continue.”
The last dividend raise was way to small to over come the political & economic risk of being located in Zimbabwe. At today's smashed down price of $10.88 the .30 cent dividend yield is only 2.76%, way to low to entice gold stock & income seeking investors to compensate for the Zimbabwe economic & political risk. If CMCL was located in any other mining friendly country, the stock would be selling around $15, not $10.88. A significant raise in the dividend would not only support a much higher stock price, it is in the best interest of all CMCL shareholders to return cold hard cash to CMCL shareholders. No excuse for Curtis to not significantly raise the dividend which is more than affordable at a gold price of $1500/oz let alone the current $1648/oz. Curtis, raise the dividend to at least .55 cents from the current .30 cents. That is what a competent CEO that acts in the best interest of CMCL shareholders would do right now.
There is no excuse for Curtis to not significantly raise the dividend. If Blanket was located in any gold mining favorable country, CMCL would now be trading close to $15. A significant dividend raise would attract new buying & support a much higher share price. Most important, significantly raising the dividend is in the best interest of all CMCL stockholders. Increasing the wealth of the stockholders is the number 1 priority of any CEO. RAISE THE DIVIDEND CURTIS.
Significantly increase the dividend.The $10 share price will be history & on it's way to $15.
The reason CMCL has a much a small PE ratio is the very high, very real, economic & political risk in doing business in Zimbabwe. A much higher, & very affordable, dividend increase could offset the Zimbabwe economic & political risk that is priced into the stock. A dividend increase is in the BEST INTEREST of all CMCL shareholders.
shermo, you better learn how to read a chart. An obvious triple top was clearly formed on the chart. The news today broke through the triple top. CMCL is still very under valued because of the Zimbabwe political & economic risk. Raise raise the dividend now.
Sherm posted "Cmcl BROKE thru your Triple Top"... Sherm, it was not MY triple top. Anyone who can read a chart can easily see CMCL's triple top, not my triple top. LOL
Hi Sherm I'm right here. I have been a CMCL shareholder longer than you have. There was never any doubt that CMCL was & continues to be a massively undervalued gold stock because of the severe Zimbabwe political & economic risks that have caused gold stock investors to avoid CMCL like the plague. Curtis has finally acknowledged, which all CMCL shareholders already knew but was not reflected in the share price, that CMCL is very profitable gold company especially with a gold price over $1450/oz. Even with this earnings announcement by Curtis, CMCL remains very undervalued due to the Zimbabwe political & economic risk. As I have posted many times, to overcome the Zimbabwe political & economic risk & entice new gold investors to buy CMCL, Curtis should immediately significantly raise the dividend, especially now that it is very affordable & would raise the share price quickly. There are many gold stock investors who would love to buy a gold stock where they could receive a way above market dividend & have the upside price appreciation of gold. CMCL is that stock. Raise the dividend now while the terrific earnings news is attracting much higher volume & interest today.