EVN - Evolution Mining

[Beaches]

Switching from EVN to add to RRL, NST SLR and RMS.
Mick

@mullokintyre if you got out of EVN on Friday or Monday then great timing.

 

[divs4ever]

i am not planning to exit EVN , i ( originally ) bought in at 75c , but did buy two top up packages this week

it is VERY tempting to sell those ( recent ) shares and repurchase in the SPP ( or cheper if the SP falls through the offer price )

am still considering my tactics

TAKE CARE

 

[divs4ever]

I already have a fair size position in EVN and no I did not sell. Now I need to decide upon taking up the offer or not.
Having read through it all it looks positive but I thought that from the start and look where it is at now.
Still what do you have to loose. It's only money and they print it evey day!

what a trending attitude , especially at Central Banks

but keep thinking you might spot an extra angle that goes your way

 

[mullokintyre]

@mullokintyre if you got out of EVN on Friday or Monday then great timing.

Yep, got out on Friday.
And it was pure fluke, no great charting or interpretive skill, just plain dumb luck.
Mick

 

[bsnews]

i am not planning to exit EVN , i ( originally ) bought in at 75c , but did buy two top up packages this week

it is VERY tempting to sell those ( recent ) shares and repurchase in the SPP ( or cheper if the SP falls through the offer price )

am still considering my tactics

TAKE CARE

There is always an angle.

 

[divs4ever]

sometimes i can figure out one that works for me , sometimes i can't

my problem is do i really want to add extra EVN via the SPP ( or even above $3 since there will be a dilution from the cap. raising )

my average including the early shares is $2.60 , and the prospectus is nice , but some rival gold producers have their charms as well

 

[Miner]

sometimes i can figure out one that works for me , sometimes i can't

my problem is do i really want to add extra EVN via the SPP ( or even above $3 since there will be a dilution from the cap. raising )

my average including the early shares is $2.60 , and the prospectus is nice , but some rival gold producers have their charms as well

You really did very well on investment price.
Hypothetically, if EVN rises to say $6 or more and you decided today to abstain from rights offered at $3.85, how would you react ?
I have had almost missed the bus when after seeing continuously dropping price against all good fundamentals, I thought there could be any accident and put a sales order. Luckily then the sale did not go through as my asking price was couple of cents more than the closing price. Next I saw the surprise of trading halt and SPP price of $3.85. Definitely market manipulators will escalate the price as they do so that no one gives a pass to the SPP Offer.
With WA Purchase, I am cautiously optimistic to have a turn around on EVN and I am not tempted to sell of current holding unless any expert advises otherwise and would take the SPP allotment.
DYOR - I am biased as EVN currently has the largest slice of my invested super fund.

 

[divs4ever]

well i bought some EVN this week at $4.45 and $4.20 before the acquisition announcement after the announcement SPP details i was highly amused to see the stock price climb Sooooo i thought for a bit and decided to SELL the recently acquired shares for $4.35 ( but keeping the shares i bought years back @ 75c just to make sure i would be entitled to participate in the offer )

now SO FAR i intend to participate in the SPP UNLESS the market price drops below $3.80 in which case i will buy on market

even if i participate in the SPP EVN will NOT make my top ten holdings

but i do hold several gold producers , after my tragic run in KCN , i learned never to bet big on the company management ( RIP Gavin Thomas ) or just one company in a sector .

please note i am still looking for a better angle with EVN , but that is my plan so far

this 'flipping attempt ' is similar to an approach i used on a ORG placement year ago .. just as well i did that the lowered average share price allowed me to exit in a modest profit when it was obvious to me ORG was going nowhere nice

cheers

 

[qldfrog]

For those tempted to go rll,look at the way they have handled their spp.i really felt screwed up as existing share holder a few month ago. I still own a few rll and no evn at this stage.orobably better going thru ETF gold producers

 

[bsnews]

I have about 15% of my holding in EVN and as long as the share price holds I will take up the SSP offer it looks like a good acquisition for them and a good sale for NST so not sure why NST SP tumbled.
RRL I hold about 10% in my holdings again I thought it was another good acquisition for them but are being punished from the share dilution but this will blow over and be forgotten in time. I still like RRL.
I could not help myself to be truthful and had to buy some NST as that looked to good to me yesterday as well.

 

[divs4ever]

no stock in my portfolio is ( much ) above 5% but then i have over 200 shares so after consolidations and share price drops some holdings are very tiny .

the NST tumble MIGHT have been investors swapping for NST into EVN ( perhaps workers in the sold mines with shares in the company ) or joint venture partners in the mines NST has palmed off . for some reason the shift was compelling NST --> EVN or so it seems

after all NST is a big company now , the mines sold were mines with risiong costs and possibly with limited expansion options , because under Bill Bearment he would buy mines that had highly prospective surrounds , i am not quite sure how the new management will adjust policy

my next buy of NST will be sub $9.50 whenever that will be , my last parcel was $9.75 in June and the parcel before that 87c in February 2013 .

i have a strong preference for dividend paying stocks ( although some have gone on the have massive capital gain as well ) take CCP bought as a 'safe-haven' ( to my way off thinking ) in August 2012 .. i thought there would be a big market crash ( and credit tightening ) sometime mid 2013 so bought CCP near $6.20 , now my thesis was absolutely wrong , but the company grew anyway without the extra tailwinds .

as stated elsewhere i have only successfully predicted ONE stock to go strongly in an upward direction , the rest have gone up ( or into oblivion ) anyway and if they go up enough i NORMALLY take SOME cash off the table and reinvest elsewhere .

 

[Miner]

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02400483-2A1312350?access_token=83ff96335c2d45a094df02a206a39ff4

Good morning Team
What are your thoughts on the SPP .
With current market price $4.21 the issue price $3.85 looks attractive IMO but there will be dilution and sustainability of gold price to stand up the economics.
Personally I would like to avail the offer and would like to have your commentary to be shared here.

Regards

 

[rederob]

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02400483-2A1312350?access_token=83ff96335c2d45a094df02a206a39ff4

Good morning Team
What are your thoughts on the SPP .
With current market price $4.21 the issue price $3.85 looks attractive IMO but there will be dilution and sustainability of gold price to stand up the economics.
Personally I would like to avail the offer and would like to have your commentary to be shared here.

Regards

From their announcement:

The price paid by eligible shareholders for SPP shares will be the lesser of: ​

• A$3.85, which was the Issue Price; and ​

• a 2.5% discount (rounded down to the nearest cent) to the 5-day VWAP of Evolution shares up to, and including, the closing date of the SPP (expected to be Friday, 20 August 2021). ​

Evolution intends to target a raising of up to A$50 million via the SPP.​

I will wait a few weeks and see what happens to POG.
The below Renko style chart has EVN's next trade as a BUY.

My strategy is to buy into the SPP if POG rises over the fortnight and if, after the allocation is made, POG does not move I will sell off the allocation (and retain initial purchased number as they were for the long haul).

 

[divs4ever]

well i intend to partake in the SPP but at the small end of the range ( unless the price dips noticeably below the SPP price )

but then i reduced the holding to add cash to do so comfortably , the result will increase my holding , before the recent sell-down but not by a large amount ( nothing close to say , doubling )

 

[Miner]

From their announcement:

The price paid by eligible shareholders for SPP shares will be the lesser of: ​

• A$3.85, which was the Issue Price; and ​

• a 2.5% discount (rounded down to the nearest cent) to the 5-day VWAP of Evolution shares up to, and including, the closing date of the SPP (expected to be Friday, 20 August 2021). ​

Evolution intends to target a raising of up to A$50 million via the SPP.​

I will wait a few weeks and see what happens to POG.
The below Renko style chart has EVN's next trade as a BUY.
View attachment 128107

My strategy is to buy into the SPP if POG rises over the fortnight and if, after the allocation is made, POG does not move I will sell off the allocation (and retain initial purchased number as they were for the long haul).

thanks @rederob for the chart.

 

[Miner]

well i intend to partake in the SPP but at the small end of the range ( unless the price dips noticeably below the SPP price )

but then i reduced the holding to add cash to do so comfortably , the result will increase my holding , before the recent sell-down but not by a large amount ( nothing close to say , doubling )

thanks @divs4ever . It makes sense . I have however right or wrong, unloaded my 50 pc holding as soon as trading halt lifted knowing SPP will be provided to all holders regardless of the amount of holding and to get some powder to reinvest.
But again I do not want to be carried out and every commentary will be well received (surely shared by others too ) to build up a knowledge base (for people like me )

 

[rederob]

thanks @rederob for the chart.

Yes, it shows support at $3.90.
So the SPP at $3.85 looks good value ATM while POG holds over $1800.
As I am a gold bull in this debt laden world it will be a hard decision to sell ANY gold shares going forward.
EVN's downside is largely due to its strong returns being over a year away, when the full scope of their many projects are sharing more evenly in the company's bottom line.

 

[DannyB0000]

I bought my first parcel of NST shares around $15 last October and held on to them, reinvested my tax return and bought a second parcel of shares about $10.20, holding NST in case central banks lose control of inflation and Gold skyrockets up as a result Or there’s another crisis. The gold miners are profitable at current gold prices so pay reliable dividends.

 

[divs4ever]

for me extra EVN is nice but not essential , and while i am dabbling in gold producers currently , i intend to have some dry powder for buying elsewhere

there will be a market melt down eventually ( it is just the way of the markets )

 

[bsnews]

From what I read the deal looked good for EVN also for NST win win.
$3.85 is looking very well valued and I will take up my full allocation amount. It will not double my holding and I will be happy to sit on EVN.
I am into the inflation play. even blind Freddy has to see it is not transitory.
Having said that EVN will not see any upside for over 1 year from what I have read.
Could of sold ENV at the $5.00 but I could not pull the trigger as I see more potential here.
Time will tell.