Hey Blueswan, I think they have 292M shares on issue as per their latest report. I was wondering how they had so much cash. I assume they did a massive equity raising & diluted the shareholding by half?
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Alacer shares on issue. 290M undiluted, 292M on a diluted basis. So MC is $670m ish
14. Share capital and share
‐based payments
a)
Share capital
Note
Number of
Shares
$
Balance at December 31, 2012
288,317,456 $ 1,457,468
Shares issued:
On exercise of share
‐based awards 14b 1,274,902 7,775
Balance at September 30, 2013
289,592,358 $ 1,465,243
On my IRESS/IOS which is quite accurate it only shows Quoted Shares on Issue as 101,761,154
Sub-Industry : Gold - 15104030
Quoted Shares On Issue : 101761154
Market Cap $ : 234050654.2
Net Asset Backing : 0
Price / NTA : 0
EPS : -318.93
PE Ratio : -0.7212
Looks like all of these Gold Stocks are getting pummeled, NCM very close to its 9.07 lows last June although we have been seeing an exodus of key personnel in NCM. But POG is still just below 1288.
Blueswan, that's also what Etrade says, however the numbers I gave you of shares on issue is from Alacer's own financial report. Check it out page 15 of the 30 Sep 2013 un-audited financial report. Happy to be corrected but I think I'm right here. I thought the valuation of $230M off sounded too good when they are sitting on that much cash. Any thoughts BC on the MC? If the MC is truly $230Mish then its a bargain. At $670M not so much.
I see they were paid $138M for the sale of Frog's leg + $40M from Metalsx so that's where the money has come from on the balance sheet.
On 6 Nov, Alacer stated their Market Cap to be approx $800m: 290 issued and 290 fully diluted. See page 5 in:
http://www.asx.com.au/asxpdf/2013110...l5vhj00tq8.pdf
This report was probably compiled the prior week when their stock was trading at around $2.90, meaning at $2.30, their MC is now more like :
230/290 * $800m = approx $634m.
Cheers BC.
Nah I haven't had a look yet. Poured money into MLX as I think they are on their way to building a diversified mining house. Gold & tin already in production which should generate $100M of free cash flow pa. Plus They are looking to expand both so that number could be doubled in a year or two. They are also sitting on some other major resources of zinc & nickel. Peter Cook & team are some of the best in the business so am very positive on where they will take MLX. Thought they picked up Alacer's Aussie assets at A$40m for a steal, however it probably suits both parties.
[QUOTE=Daytr;442739]Nah I haven't had a look yet. [QUOTE]
My bid at 2.8 never got hit and so I missed out as well on TAM's sp recovery. Instead I've bought into PRU. Their sp has dived lately (from $1.20 6 months ago to 33c this morning) not just because of the price of Gold falling away but due to their still high ASIC of $1342/oz. This is only a 5% improvement on their end of June quarter ASIC, but they are confident they can drop it to $1263/oz this quarter. They are hedged at an average price of $1408/oz which helps but it is still too high compared to most other diggers (c.f. low cost producers TRY, OGC, AQG, etc). They do however seem to have it moving in the right direction.
Also, I see that their managing director and CEO, Jeffrey Quartermine, has been buying stock (over $100k) at 38c, and so I figure if I can buy these at a 15% discount to what he's happy paying then chances are I'll be in the money before too long...perhaps as early as this weekend. It's usually a good sign when directors are buying stock.
PRu's latest Management report reads OK (except for the ASIC):
http://www.asx.com.au/asxpdf/2013111...f5g5bk5w70.pdf
- debt free, $26m cash ($45.3m cash, bullion and other investments), 7.1Moz measured and indicated (187Mt @1.1g/t), 3.6Moz proven and probable (92Mt at 1.2g/t) and 3.0Moz inferred (101Mt @1.1g/t). Grade is not outstanding but a steady operator.
NPAT of $41.4m (9cps), operating cash flow of $46.7m, and ROE of 8%.
Discl: buying (as a bottom feeder!)
Shame about TAM BC, certainly had a good day!
I bought a lot of these Explor Resources stock when it was at around 40 cents( EXS.TX ) this is a Venture one also in Gold,silver etc. The SP dropped all the way to 2.5 cents and some clients were able to average buy at 3 cents. I was surprised to see the SP hit 17 cents last week and now still at 12 cents. That proves if you are patient there are still trash out there that will eventually pay off as long as you buy more when they are close to nil value.
GOR going for another run today up to 10c. Kicking myself a bit for selling at 9c, however was happy at the time so can't complain.
Looking for another pull back in this baby to load up again.
Yes, I had an offer sitting at 9.9c which I thought was far enough above market price to catch the tip of a spike (from 8c last Friday) but it got hit within 2 hours of trading today, and I see that its now trading at 10.5c with good support at 10c. This bullish run has legs, and if previous runs are anything to go by, should last a few days.
I still made a profit so I'm not complaining but I gotta keep reminding myself to wait at least 3 full days once a run begins. Today is only half way through day 3.
Resistance at 12c may well be tested before the weekend.
BC