3103 days ago
It appears that almost insolvent TSX listed Mkango Resources might finally be about to get the dual listing it told us, via RNS, would be in December and then January. I guess there is an appetite for utter shit but look at the price Mkango is paying...
As you can see from the screenshot below the company has been a little tardy in updating its website. Given that its bosses have been unable to afford to take any pay since March 2015 maybe that is no shock.
3188 days ago
Bacanora Minerals (BCN), the AIM and TSX-listed lithium explorer with assets in the Sonora province of Mexico, has stood out from its peers in the junior exploration space in recent years. While share prices have collapsed all around it, this lithium play has maintained a market cap of £70 million despite having yet to release a PFS. Part of this is because lithium was the hot commodity of 2015, but also because (as Peter Secker alluded to when this exact question was put to him at Gold and Bears) Bacanora has a "supportive shareholder".
3199 days ago
TSX listed Mkango Resources promised investors - including Chris Oil who put in £100,000 at 2.5 Canadian Cents last Autumn - that its delayed AIM IPO would happen early January. Nomad SP Angel signed off on that statement...I put it to SP Angel today why the silence?
3841 days ago
Woof, woof, woof! How many times have I warned (correctly) that AIM & TSX listed silver company Arian (AGQ) is a total and utter dog? I have lost count. Those who ignored me have lost 90% in three years but at 34.5p the shares are still hugely overvalued. The quarterlies were slipped out at 6.59 AM today just a minute before the 7 AM rush so that folks might not notice just how dismal they are. I noticed…
Woof – where do you start? Arian is building a new processing plant in Mexico and the uber-Welsh management team finds that prospect almost as exciting as the idea of being stranded alone on a desert island with a flock of pert young sheep. I am rather less excited about Arian’s prospects.
4183 days ago
Eric Sprott is Mr Silver. He is a passionate bull of the metal and his funds are the number one funds in the sector. About the only reason for buying shares in AIM & TSX listed Arian Silver (AGQ) was that Sprott was a major shareholder. But, oh dear me…he is selling. How will Arian's prick of a PR man spin this one?
4193 days ago
Kalimantan Gold (KLG) is listed on the TSX as well as the Cesspit and its quarterlies out today tell a familiar story. The only question is when is the next placing? I guess rather soon but then as a company that has passed the hat around numerous times in its long and undistinguished Cesspit career Kalimantan at least knows how to do the paperwork.
In the three months to March 31st 2013 the company booked a profit of $25,151 thanks to management fees for operating the KSK joint venture (mine exploration). In terms of cash it is a rather less happy picture. Kalimantan’s partner funds most of its exploration work but not all and thus Kalimantan boldly states:
4205 days ago
Oh dear, oh dear, oh dear. That used to be the catchphrase of Mike Walters in his tipster heyday and boy does it apply to Arian Silver which has just received a very public bottom spanking for filing a non-compliant report from the Canadian regulator. Arian is listed in Canada as well as on the Cesspit AIM market.
Rather than be accused of making it up I just reprint the Arian statement in full:
Arian Silver announces its intention to file a technical report including a summary of operational details and economic factors.
The British Columbia Securities Commission has reviewed the Company’s independent technical report, compiled by CSA Global Limited and dated 23 April 2012, which was published for the primary purpose of updating investors with the results of the 10,000 metre phase 4 drilling programme at Arian’s San Jose property.
The Commission’s review of the 2012 Report identified areas of non-compliance with the Canadian standards of disclosure for mineral projects
4215 days ago
We reported here a couple of weeks ago that AIM and TSX listed Arian Silver (AGQ) had tried to get a placing away in the UK and had failed and was thus resorting to tapping investors in the Dominions. The company huffed and puffed and issued an RNS which was very huffy puffy but did not exactly deny our story. Well it could not do so as we had it verified from an investor Arian’s broker tried to tap up …what we said was true.
Well it looks as if the Canadians have as much appetite for the stock as the Brits. That is to say none whatsoever. For today Arian has fessed up that it has been forced to tap its YA Global Death Spiral equity draw-down facility
4230 days ago
AIM and TSX listed Galantas Gold (GAL) is, I am afraid to say, investment toast. At 1.375p it is capitalised at £3.54 million but calendar 2012 results out today make it clear as clear can be that a target price of 0.01p is generous.
The company is a small scale producer of gold (with a dash of lead and silver thrown in) in Northern Ireland. The reality is that this company would only ever work if it massively ramped up production and if gold prices were much higher. All figures used in this piece are in Canadian dollars but the currency is kind of irrelevant – red ink looks the same whatever the denomination.
4299 days ago
While many base metals stocks have pushed ahead sharply during the past few weeks on the back of hopes of a rebound in Chinese demand, AIM and TSX listed EMED (EMED) has made steady gains on the basis that its agonisingly protracted attempts to restart production and it Spanish Rio Tinto copper mine will finally get the requisite regulatory clearance. The most recent quarterly statement (on January 16th) indicated that all was on track and that has seen the shares move ahead to 12.75p, valuing the company at £164 million. However, I still expect the shares to treble from here on a two year view.
4305 days ago
Calm down, we will turn to our own Avanti Communications (LSE:AVN) next week as it reports results. There is a legitimate bull vs Bear debate here too. But today’s Avanti is a TSX listed miner capitalised at $37 million. It is pure comedy.
4350 days ago
2012 was not a good year for precious metals stocks and with a number of commentators calling gold lower, December was another poor month. However TSX and OTC listed Aurcana Corporation (AUNFF.PK) announced on 14th December that its second major silver mine, in Shafter, Texas, was now in operation and that has propelled it into the ranks of the mid-tier producers, something not recognized in a share price of US$0.94. As production ramps up during 2013 this stock is one that should enjoy a material re-rating. My target share price is US$1.89 per share.
4398 days ago
Shares in AIM and TSX listed Caza Oil & Gas (CAZA) have spiked 28.6% higher today to 18p valuing the company at £29.61 million. Supporters of this Texan oil play, urge me to look at Caza claiming that it will hit 25p before Christmas. But I am always nervous about oil companies operating in the US but listed here. So buy as a red hot penny share or sell as the good news is already discounted – which is it? I had a long chat with the company this afternoon and came to a conclusion. What would JR Ewing say?
The news today came from the company’s Caza Ridge horizontal Bone Spring well on its Copperline Prospect in Lea County, New Mexico. The company states:
