AVO - Avoca Resources
- Thread starter Nicks
- Start date
-
- Tags
- avo avoca resources
LOL...I bought into AVO because I liked the low production costs etc and how efficient they are. Also financing commitments have been met and they are uncovering some great gold grades very near to their 100% owned production facility.
Well you think an outfit like this would be killing it on the gold days (like all the others...producers + explorers etc) but it's actually down when everyone else is up by 5%.
I never ask these questions but can someone help me out...Are CBA still offloading? Does AVO move on the HUI and not with the POG?
Where is the love AVO...where is the love...
Well you think an outfit like this would be killing it on the gold days (like all the others...producers + explorers etc) but it's actually down when everyone else is up by 5%.
I never ask these questions but can someone help me out...Are CBA still offloading? Does AVO move on the HUI and not with the POG?
Where is the love AVO...where is the love...
Hi JTLP,
How are you?
Good thanks JTLP how are you? What's news with AVO?
Well...
- Possible insider trading me thinks when the recent Capital raising was done. AVO seemed to be tied down when other producers were on the move up up up (see LGL NCM etc). Placement done at $1.47 which wasn't bad at the time (only 4 cents below close price from memory). Oversubscribed (has to raise a few eyebrows?) and they got some nice figure around 28 mil from memory. Nice to have funds.
- AVO quarterly report shows everything is on track...but still no mention of a cost per ounce? They once stated around 450 AUD per ounce...will be interesting to see if this is still the case. They are meant to be a pretty efficient outfit so I am wondering why no mention of cash costs?
- CBA upping their holding? I had recently been noting that they had been selling out big time...but a change in holding today reveals they have bought back up...intriguing and positive so i'm happy
- Some nice gold grade hits in the report also...keep beefing up this report. I think Merryl Lynch have put out a buy on AVO...target 2.40 to 2.60...but they have cut a proposed dividend (not sure if they were the ones to include possible divvie in 2010).
Any thoughts?
Xoxo
How are you?
Good thanks JTLP how are you? What's news with AVO?
Well...
- Possible insider trading me thinks when the recent Capital raising was done. AVO seemed to be tied down when other producers were on the move up up up (see LGL NCM etc). Placement done at $1.47 which wasn't bad at the time (only 4 cents below close price from memory). Oversubscribed (has to raise a few eyebrows?) and they got some nice figure around 28 mil from memory. Nice to have funds.
- AVO quarterly report shows everything is on track...but still no mention of a cost per ounce? They once stated around 450 AUD per ounce...will be interesting to see if this is still the case. They are meant to be a pretty efficient outfit so I am wondering why no mention of cash costs?
- CBA upping their holding? I had recently been noting that they had been selling out big time...but a change in holding today reveals they have bought back up...intriguing and positive so i'm happy
- Some nice gold grade hits in the report also...keep beefing up this report. I think Merryl Lynch have put out a buy on AVO...target 2.40 to 2.60...but they have cut a proposed dividend (not sure if they were the ones to include possible divvie in 2010).
Any thoughts?
Xoxo
- Joined
- 16 April 2007
- Posts
- 926
- Reactions
- 1
hi jtc! how are you? thats great. i'm fine too thanks.
yeah avo has started moving along with the gold price, afaik jp morgan has been offloading the last month or so which was keeping the price down, but then bought back in with the oversubscribed placement.
cash costs are in the $400-$450 "ballpark" according to an email from AVO, so that probably means they are a bit high at the moment but they are hoping its going to come down over the next quarter.
the price has gapped up out of a triangle that was building over the last few months around a major support / resistance line so either the gap will be filled or it will go for a run and ignore the gap which of course would be nice. at least the break was up
there has been lots of discussion over at hotcopper on AVO so when asf is quiet on a stock it might be worth having a poke around over there and sifting through the shills and ramps for some more info. the avoca website has also put up a few new analyst reports this week from RBC, merrill lynch and fat prophets, all of which are pretty bullish about the stock. i'm not really into fundamentals but its nice to have some confirmation.
i've been trading in and out around the 1.50 range recently and am sitting on my most recent parcel acquired at 1.51, obviously i'm keeping a close eye on the gold price but the trading range had been pretty consistent and support held up well which is a good sign. given the recent problems at lihir with the landowners causing a ruckus i'm pretty happy about avocas location, although the jp morgan royalties look like taking a decent bite out of profits.
xoxo yourself
yeah avo has started moving along with the gold price, afaik jp morgan has been offloading the last month or so which was keeping the price down, but then bought back in with the oversubscribed placement.
cash costs are in the $400-$450 "ballpark" according to an email from AVO, so that probably means they are a bit high at the moment but they are hoping its going to come down over the next quarter.
the price has gapped up out of a triangle that was building over the last few months around a major support / resistance line so either the gap will be filled or it will go for a run and ignore the gap which of course would be nice. at least the break was up
there has been lots of discussion over at hotcopper on AVO so when asf is quiet on a stock it might be worth having a poke around over there and sifting through the shills and ramps for some more info. the avoca website has also put up a few new analyst reports this week from RBC, merrill lynch and fat prophets, all of which are pretty bullish about the stock. i'm not really into fundamentals but its nice to have some confirmation.
i've been trading in and out around the 1.50 range recently and am sitting on my most recent parcel acquired at 1.51, obviously i'm keeping a close eye on the gold price but the trading range had been pretty consistent and support held up well which is a good sign. given the recent problems at lihir with the landowners causing a ruckus i'm pretty happy about avocas location, although the jp morgan royalties look like taking a decent bite out of profits.
xoxo yourself
Well well well...nice work Disarray.
JP Morgan are no longer a substantial holder...and CBA have been offloading chunks as well.
Sheesh...sometimes logic does not prevail! I guess they have there reasons though...
Still waiting on some official cash costs...will email the company tonight to get some insight. Management are pretty good with the old turnaround!
Perhaps they are unwilling to release cash costs due to the start up nature of gold pours and are waiting for a plateau of pricing before releasing the data?
In other news AVO up a nice 5% today...finally beating their gold counterparts...
JP Morgan are no longer a substantial holder...and CBA have been offloading chunks as well.
Sheesh...sometimes logic does not prevail! I guess they have there reasons though...
Still waiting on some official cash costs...will email the company tonight to get some insight. Management are pretty good with the old turnaround!
Perhaps they are unwilling to release cash costs due to the start up nature of gold pours and are waiting for a plateau of pricing before releasing the data?
In other news AVO up a nice 5% today...finally beating their gold counterparts...
Word up JTLP...how are you big man?
Not bad thanks...just chuggin along...all good.
Good to hear mate. Anyway...here is the reply that you asked for from Rohan Williams...
Hello JTLP. The $369/oz figure was based on our original feasibility which was completed in late 2006. We now quote cash cost guidance in the $450/oz area once we are mining reserve grade material, which is 5.3 g/t gold.
regards
Rohan Williams
So there is the reply. $450/oz cash cost is pretty low so i'm happy...but I don't quite grasp the part after it. What are they processing now then if it is not the reserve grade material? Better quality or worse? Cheaper or more expensive?
When will AVO be processing the reserve grade material? J-Man? Anyone?
Not bad thanks...just chuggin along...all good.
Good to hear mate. Anyway...here is the reply that you asked for from Rohan Williams...
Hello JTLP. The $369/oz figure was based on our original feasibility which was completed in late 2006. We now quote cash cost guidance in the $450/oz area once we are mining reserve grade material, which is 5.3 g/t gold.
regards
Rohan Williams
So there is the reply. $450/oz cash cost is pretty low so i'm happy...but I don't quite grasp the part after it. What are they processing now then if it is not the reserve grade material? Better quality or worse? Cheaper or more expensive?
When will AVO be processing the reserve grade material? J-Man? Anyone?
AVO...biggest serial under performer of all time...
Gold down, AVO smash
Gold up, AVO flat/down
Can only speculate that some of the big boys are still reducing holdings...especially are receiving more via the institutional cap raising.
Still cutting me deep though...anyone have any answers to my previous question btw?
Ta!
JTLP
Gold down, AVO smash
Gold up, AVO flat/down
Can only speculate that some of the big boys are still reducing holdings...especially are receiving more via the institutional cap raising.
Still cutting me deep though...anyone have any answers to my previous question btw?
Ta!
JTLP
Dirty Dog lately.
Perhaps people knew about this article from Mining News:
Avoca posts loss even as Higginsville grows
Kate Haycock
Monday, 16 March 2009
DESPITE its Higginsville gold project ramping up to produce 49,662 ounces of gold in the last six months of 2008, Avoca Resources posted a loss of $A14.6 million for the same period.
The company sold 45,322oz of gold from the Higginsville project in Western Australia at an average price of $A1102 per ounce during the half year, with total revenue hitting $50 million.
The Perth based company’s $14.6 million loss was mainly due to mining costs, coming in at $40 million, while depreciation and amortisation costs came to $18.3 million.
Earlier this month Avoca raised $28.9 million to finance a paste-fill plant, expected to cost around $15 million, and for future working capital.
Before this, the miner had only $4.05 million cash on hand at the end of the quarter and total debt of $66.8 million.
Avoca poured its first gold bar at Higginsville on July 8 last year, and shares in the company were last trading at $1.67, up 1.5c on Friday, but fell back 1c this morning.
MiningNews.net was unable to contact a representative of Avoca at the time of publication
I still think major holder's are exiting but now she is getting ugly...down 8% today.
People don't like losses...mmm...cap raising was a good idea now?
Perhaps people knew about this article from Mining News:
Avoca posts loss even as Higginsville grows
Kate Haycock
Monday, 16 March 2009
DESPITE its Higginsville gold project ramping up to produce 49,662 ounces of gold in the last six months of 2008, Avoca Resources posted a loss of $A14.6 million for the same period.
The company sold 45,322oz of gold from the Higginsville project in Western Australia at an average price of $A1102 per ounce during the half year, with total revenue hitting $50 million.
The Perth based company’s $14.6 million loss was mainly due to mining costs, coming in at $40 million, while depreciation and amortisation costs came to $18.3 million.
Earlier this month Avoca raised $28.9 million to finance a paste-fill plant, expected to cost around $15 million, and for future working capital.
Before this, the miner had only $4.05 million cash on hand at the end of the quarter and total debt of $66.8 million.
Avoca poured its first gold bar at Higginsville on July 8 last year, and shares in the company were last trading at $1.67, up 1.5c on Friday, but fell back 1c this morning.
MiningNews.net was unable to contact a representative of Avoca at the time of publication
I still think major holder's are exiting but now she is getting ugly...down 8% today.
People don't like losses...mmm...cap raising was a good idea now?
I must be the only dud around these parts
Anyway...some big trades throughout the day on AVO...with volume right up. Some big XT's in there as well...hopefully a major changing hands with somebody else without flooding the market?
Price is up as well (as with all goldies) but AVO's volume has got me thinking. Just before open some biggies...
Anyway...some big trades throughout the day on AVO...with volume right up. Some big XT's in there as well...hopefully a major changing hands with somebody else without flooding the market?
Price is up as well (as with all goldies) but AVO's volume has got me thinking. Just before open some biggies...
JTLP you been working out? You look good. When you joining the international modelling circuit? Ahh just when I get a job...sweet.
Anyway back to AVO.
Right royal smash today...down 8% when most goldies were only down between 1 and 3%. Volume was up again too...i'm getting sick of speculating on a major holder getting out but sheesh...something in the wings.
Still in an uptrend from the November lows...also trading within a range of about 1.50 to 1.80 for a good 3 months.
Anyway back to AVO.
Right royal smash today...down 8% when most goldies were only down between 1 and 3%. Volume was up again too...i'm getting sick of speculating on a major holder getting out but sheesh...something in the wings.
Still in an uptrend from the November lows...also trading within a range of about 1.50 to 1.80 for a good 3 months.
Far out JTLP...the gym has turned you from drab to fab! Wouldn't want to meet you on the modelling circuit...
Ok snap back to reality...so I wrote about the T/O on DIO's thread...but AVO look to be getting a pretty good deal. Have the DIO board approved or made any recco's?
If gold stays at these lofty levels and even higher then AVO will be one sexy big W.A miner...
Ok snap back to reality...so I wrote about the T/O on DIO's thread...but AVO look to be getting a pretty good deal. Have the DIO board approved or made any recco's?
If gold stays at these lofty levels and even higher then AVO will be one sexy big W.A miner...
- Joined
- 14 February 2009
- Posts
- 2
- Reactions
- 0
Far out JTLP...the gym has turned you from drab to fab! Wouldn't want to meet you on the modelling circuit...
Ok snap back to reality...so I wrote about the T/O on DIO's thread...but AVO look to be getting a pretty good deal. Have the DIO board approved or made any recco's?
If gold stays at these lofty levels and even higher then AVO will be one sexy big W.A miner...
Looking at the Historical financial information on the Avoca Group
Set out below is an audit-reviewed balance sheet of Avoca as at 31 December 2008:Audit-reviewed Balance Sheet asat 31 December 2008 ($’000)
Current Assets
Cash and cash equivalents 4,053
Trade and other receivables 2,098
Inventories 9,434
Derivative financial instruments 2,081
Total Current Assets 17,666
Non Current Assets
Trade and other receivables 6
Derivative financial instruments 10,961
Property, plant and equipment 172,158
Mineral exploration and evaluation 35,178
Deferred tax assets 9,073
Other financial assets 807
Total non-current assets 228,183
TOTAL ASSETS 245,849
Current Liabilities
Trade and other payables 25,582
Provisions 149
Borrowings 15,957
Other financial liabilities 4,803
Total current liabilities 46,491
Non-current Liabilities
Provisions 3,500
Borrowings 88,818
Other financial liabilities 5,699
Total non-current liabilities 98,017
TOTAL LIABILITIES 144,508
NET ASSETS 101,341
EQUITY
Contributed Equity 122,086
Equity compensation reserve 2,817
Other reserves 2,701
Accumulated losses (26,263)
TOTAL EQUITY 101,341
I didn't go far at school but the above financial information (borrowings) looks pretty unhealthy to me, or am I missing something?
- Joined
- 16 April 2007
- Posts
- 926
- Reactions
- 1
she's ranging again. been very reliable for quite some time now, i'd almost set my watch by it.
sooooooooooooooooooooo how much more do i need to type to get my 100 characters?
*edit*
/wave JTLP. how you doing? i'm fine thanks! you holding or trading or what? positive results keep coming in which is nice to see. even though POG has taken a bit of a dip we've got our lady here on an upswing. typical woman, unpredictable as hell till you learn to read her, then the goodies flow
sooooooooooooooooooooo how much more do i need to type to get my 100 characters?
*edit*
/wave JTLP. how you doing? i'm fine thanks! you holding or trading or what? positive results keep coming in which is nice to see. even though POG has taken a bit of a dip we've got our lady here on an upswing. typical woman, unpredictable as hell till you learn to read her, then the goodies flow
Attachments
she's ranging again. been very reliable for quite some time now, i'd almost set my watch by it.
sooooooooooooooooooooo how much more do i need to type to get my 100 characters?
*edit*
/wave JTLP. how you doing? i'm fine thanks! you holding or trading or what? positive results keep coming in which is nice to see. even though POG has taken a bit of a dip we've got our lady here on an upswing. typical woman, unpredictable as hell till you learn to read her, then the goodies flow
Wow...another poster!
Yeah i'm still holding. Interesting days for AVO recently with the ann stating they could output 190,000 oz per year...what a lovely ann.
Also PALA investments converting the note considerably early and buying shares on market...what's the go here?
I also think the DIO deal is shot. DIO management is too stubborn to realise the potential a takeover would mean and are too stuck up on the KPMG report in respect of T/O premiums (which is IMO ludicrous to say the least).
AVO are in a range you're right..lets see what's waiting in the wings...
Avoca increases Dioro bid
--------------------------------------------------------------------------------
Monday, 6 July 2009
Kate Haycock
http://www.miningnewspremium.net/StoryView.asp?StoryID=1030781
GOLD producer and predator Avoca Resources has upped its offer for fellow miner Dioro Exploration, and pushed out its offer by another week in a bid to reel in more Dioro shareholders.
Avoca and its associates hold a 15.75% stake in Dioro, up from 14.95% when the takeover bid was launched, indicating acceptances for the deal have been slow so far.
This morning Avoca increased its offer for Dioro to one Avoca share for every 2.4 Dioro shares – which it estimated valued Dior’s shares at 74.8c each.
Avoca was previously offering one of its shares for every 2.82 Dioro shares on the market.
Avoca’s shares were last traded at $1.675, down 3c this morning, while Dioro’s were at 64c, up 1c.
Perth-based Avoca said today the new offer represented a premium of more than 89% to Dioro’s 39.5c closing price on April 9, the day before the takeover offer was launched.
Dioro has urged shareholders not to fold to Avoca’s deal as the offer undervalued the company – a claim backed up in Dioro’s target statement in May, when financial services firm KPMG valued Dioro at $A1.40-2.28 per share, with a preferred value of $1.88 per share.
Beyond this, Dioro also said it was in talks with rival parties over an alternative deal to the Avoca offer.
These parties have been tipped to include Dioro’s joint venture partner at the Frog’s Leg underground gold mine, Canadian company La Mancha.
However, today Avoca warned Dioro shareholders these discussions may not eventuate and Dioro’s share price could tank if Avoca does not succeed in its takeover bid.
The offer is now due to close on Tuesday, July 21.
--------------------------------------------------------------------------------
Monday, 6 July 2009
Kate Haycock
http://www.miningnewspremium.net/StoryView.asp?StoryID=1030781
GOLD producer and predator Avoca Resources has upped its offer for fellow miner Dioro Exploration, and pushed out its offer by another week in a bid to reel in more Dioro shareholders.
Avoca and its associates hold a 15.75% stake in Dioro, up from 14.95% when the takeover bid was launched, indicating acceptances for the deal have been slow so far.
This morning Avoca increased its offer for Dioro to one Avoca share for every 2.4 Dioro shares – which it estimated valued Dior’s shares at 74.8c each.
Avoca was previously offering one of its shares for every 2.82 Dioro shares on the market.
Avoca’s shares were last traded at $1.675, down 3c this morning, while Dioro’s were at 64c, up 1c.
Perth-based Avoca said today the new offer represented a premium of more than 89% to Dioro’s 39.5c closing price on April 9, the day before the takeover offer was launched.
Dioro has urged shareholders not to fold to Avoca’s deal as the offer undervalued the company – a claim backed up in Dioro’s target statement in May, when financial services firm KPMG valued Dioro at $A1.40-2.28 per share, with a preferred value of $1.88 per share.
Beyond this, Dioro also said it was in talks with rival parties over an alternative deal to the Avoca offer.
These parties have been tipped to include Dioro’s joint venture partner at the Frog’s Leg underground gold mine, Canadian company La Mancha.
However, today Avoca warned Dioro shareholders these discussions may not eventuate and Dioro’s share price could tank if Avoca does not succeed in its takeover bid.
The offer is now due to close on Tuesday, July 21.
Gah...AVO seem desperate now by extending and upping the bid. Hopefully this is the last time they do it and DIO just accept...I personally believe the holder's are getting a little into dreamland if they think they will achieve the 1.88 target from KPMG.
Hopefully tomorrow a reply from DIO management about what to do with the offer...if they don't accept I hope AVO just dump the 15% of shares they hold straight on market and push DIO back to where it started before the T/O bid...wouldn't it be funny for the DIO holder's to cry "KPMG VALUATION" then...
Hopefully tomorrow a reply from DIO management about what to do with the offer...if they don't accept I hope AVO just dump the 15% of shares they hold straight on market and push DIO back to where it started before the T/O bid...wouldn't it be funny for the DIO holder's to cry "KPMG VALUATION" then...
Totally agree. I don't think they should have raised their previous offer personally. DIO holders will be happy though the sp shot up today on the news.
my god, what is going on
this company goes up and down between $1.5 and $1.9 ... next year it's all profit... they can easily pay off their debts in one hit
why is it only worth $1.75 right now? it should be well over $2.5 surely.
hmm.. come on guys what is wrong with this stock?
this company goes up and down between $1.5 and $1.9 ... next year it's all profit... they can easily pay off their debts in one hit
why is it only worth $1.75 right now? it should be well over $2.5 surely.
hmm.. come on guys what is wrong with this stock?
- Joined
- 27 September 2008
- Posts
- 48
- Reactions
- 0
I could never get my head around this stock, I sold out last week I have been holding this stock for 6 months I was just glad to get my money back as it trades in a wide range massive up & downs
- Joined
- 27 September 2008
- Posts
- 48
- Reactions
- 0
Looks like Ramelius Resources may trump Avoca's offer for Dioro
http://news.smh.com.au/breaking-new...ivals-avocas-bid-for-dioro-20090730-e2uy.html
http://news.smh.com.au/breaking-new...ivals-avocas-bid-for-dioro-20090730-e2uy.html
Similar threads
