TIE - Tietto Minerals

[mullokintyre]

I am taking a slightly more positive approach.
the 58 cents SPP is a good way above recent prices, which is unusual for an SPP.
I am looking at it as an opportunistic squeeze some money out of the chinese.
Will keep holding.
Mick

 

[Sean K]

I am taking a slightly more positive approach.
the 58 cents SPP is a good way above recent prices, which is unusual for an SPP.
I am looking at it as an opportunistic squeeze some money out of the chinese.
Will keep holding.
Mick

I've got a feeling they might be using this raise to cover cost overruns on the build. Instead of admitting, 'oh, it's not on budget', let's say 'we need it for exploration'. The 'accelerate studies' excuse just doesn't scan to me.

 

[mullokintyre]

Latest announcement today says the project remains on schedule and on budget.

Highlights: ➢ Construction at Tietto’s 3.45Moz Abujar Gold Project remains on schedule and budget
➢ First gold pour at Abujar on track for Q4 CY22
➢ All heavy lifts on SAG mill complete. Gear alignment commenced in September
➢ Carbon-in-leach (CIL) tanks are complete and handed over to Structural Mechanical Piping (SMP) contractor to advance steel erection activities
➢ ROM bin platework assembled and installed in early September. The jaw crusher and vibrating grizzly installed
➢ A flyover video showing Abujar construction progress is available here

Either they are a good management team or great con artists.
The video suggests it may be the former.
Still holding, not adding.
Mick

 

[mullokintyre]

More infill drilling out today.
Given these results are outside the inferred resource, one would hope that LOM will be upgraded , and the MRE increased sufficiently to give it a kick along.
The original feasability report had gold at 1420. It has been somewhat higher than that for quite a while.
Mick

 

[mullokintyre]

down to 45 now.
Those Chinese who stumped up a few mills at 58 must be a little unhappy now.
Tie managers must really be great salesmen.
Mick

 

[peter2]

What's with the mid session gap up? Very unusual.

 

[Country Lad]

What's with the mid session gap up? Very unusual.

@peter2 it was all very quiet until the cross trade of 30 million shares at $0.50 at 14:48 and the activity increased from there.

 

[peter2]

Thanks, I thought I'd sold a remaining parcel near the open (not 30M) but see that it didn't go through. Thought the order may have been purged. Happier now after that unusual trading day.

 

[Country Lad]

Thanks, I thought I'd sold a remaining parcel near the open (not 30M) but see that it didn't go through. Thought the order may have been purged. Happier now after that unusual trading day.

Also a bit unusual is if we ignore the 30mil cross the nearly 7 million volume is nearly 3 times the average of the last 20 days. Could be something brewing.

 

[Sean K]

TIE has had a few good days, on the back of general gold equity interest. Unusual with POG still at lows, though has had a few OK days. Now on about a $600m MC, so getting fulling priced perhaps. Not sure until they come out with the new LOM plan on the last MRE. Around that 60c level there'll probably be some selling.

 

[peter2]

@Country Lad and I noticed some unusual volume Oct 3rd. It's been revealed today that a Chinese Mining company has bought 7%. They paid above market price at the time.

 

[Sean K]

@Country Lad and I noticed some unusual volume Oct 3rd. It's been revealed today that a Chinese Mining company has bought 7%. They paid above market price at the time.

View attachment 147797

They've had about 4% for some time, interesting. I wonder if they know Chijin who bought $50m in the last CR...

 

[Country Lad]

@Country Lad and I noticed some unusual volume Oct 3rd. It's been revealed today that a Chinese Mining company has bought 7%. They paid above market price at the time.

View attachment 147797

Thanks @peter2, that explains the 30million cross. Up another 7% today.

 

[peter2]

@Sean K Of course they do. All Chinese companies are just different departments of China Corp.

 

[Sean K]

@Sean K Of course they do. All Chinese companies are just different departments of China Corp.

I wonder if it was Zhaojin or Chijin on Friday? 40m traded. Must have been after hours.

 

[Sean K]

I wonder if it was Zhaojin or Chijin on Friday? 40m traded. Must have been after hours.

Chijin...

 

[peter2]

Zhaojin owns 7%, Chijin owns 10.7%, I'm curious about the other major shareholders. China Corp may be trying to grab this company.

 

[Sean K]

Zhaojin owns 7%, Chijin owns 10.7%, I'm curious about the other major shareholders. China Corp may be trying to grab this company.

A Hong Kong company owns just over 5%. I'm not sure who Zhaojin and Chijin have been buying their shares off. Lots of movement at the top with these disclosures. This is old data now.

 

[Sean K]

Had to take some off the table here, even though I sense something fishy is going on with the Chinese taking big positions.

 

[mullokintyre]

Had to take some off the table here, even though I sense something fishy is going on with the Chinese taking big positions.

View attachment 147957

Yae, I agree.
As K Rudd would say, Better to take some profit than get rat f??§£¥ed by the Chinese.
Mick