Thanks livinginstyle I probably could've explained the bit about the person marks better. I'm actually going to boycott the person mark system because it would seem to play into the hands of people more manipulative than some of the large BAA shareholders.
RB_79 - I think Banro executing a more involved JV with China Gold has big potential upside. Until we know if China Gold's intentions it is hard to do anything but guess. At the very least CNGC could pay cash to Banro for access to their copper. That would give Banro funding without either diluting or giving up ownership in their gold mines. If that was the case then once the details are out we could estimate the PPS pop more accurately. For example BAA's market cap is about $160M but they have over $200M in debt that isn't in default so technically they have a value of over $350M.
No doubt I'll get slammed for saying that but I'm trying not to write a book here. Ha. It is more complicated than that but it can be used a good rule of thumb meaning if they pay off $50M in debt and they maintain a production rate and growth vector their market cap should be able to sustain a $50M pop on the technicals. Fundamentally is a whole different ball game.
We don't even know for sure if CNGC is real. I heard some things, it was late last night so I was just speculating. But if CNGC would want to fund going after more gold then Banro could very quickly lose its junior status. CNGC has access to funds. In 2012 they made a play for Barricks Gold Tanzania which is in the last paragraph in the link below. I think this is plausible because the Chinese have been trying to get as much of the physical metal as they can. Not just the Chinese government either. Chinese citizens know their economy is in trouble so they want gold!
Personally I'm not selling a share until the Q1 production reports come out. We already know about what Q4 fins are. Last Friday they released how much gold they sold in Q4 and at what price. I want to see if Q1 confirms the hints they've been dropping that they'll hit 225,000 ounces this year. If they miss then I'll have to decide to either keep loading for Q2 or exit. But no matter what happens with the PPS before April 9th I'm not selling a share.
The $20 drop in gold didn't really do anything to BAA's PPS just like the recent $100+ gain hasn't done much. Until we know the Q1 production BAA will not trade in line with what gold does. For BAA to drop 10% on a few hundred thousand shares and then drop 8% tells me the L2 was empty. The HFTs and manipulators were playing. Always remember that it often isn't a devious human being doing it. Those are computer programs fighting against each other trying to bait one another into put a big block on the ask or bid. To humanize it actually invites the possibility of making emotional errors.
My posts won't always be this long I just only have one left after this. But I'd like to back up what I just said by posting the buys vs. sells. Yesterday the share price fluctuated like crazy. But check this out!
On 3/7 sells out numbered buys over 2 to 1 and BAA opened at .62 and closed at .61. On 3/10 sells outnumbered buys over 3 to 1 and BAA opened at .63 and closed at .60.
What is important there? It closed at .61 the day before...yet it opened at .63? That is manipulation. So 3/10 (Monday) actually closed only a penny below what 3/7 (Friday) closed at.
On 3/11 sells outnumbered buys AGAIN over 2 to 1 and BAA opened at .61 (again a gap up) and closed at .59. So that means over those three days BAA lost .06 and yet there it is on the 12th opening at .60.
The long winded point I'm trying to make here is that probably 90% of the trading was all computers and computers don't care about you. It wasn't a devious person trying to make you scared it was a computer trying to alter the technicals in an attempt to get another computer to make a mistake. And with that I'm going to go find my arthritis cream for my hands.
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