Are they paying you to repeatedly pump their service? Its enough, give it a rest.
300 more ounces does not add an extra $70 million. More like a gross $400 thousand. And BAA is a high debt company, total debt is nearly 3X their market cap.
They borrowed money (loan) against future production towards the Namoya mine, which locked them into selling gold at a fixed (lower) price. This is not hedging, I said nothing about hedging? Read the link, the information isn't bad, its factual. And speaking of bad information, you don't buy back a hedge, its spent money (insurance). Further, I don't think BAA was hedged? So the bad info is coming from you.
Lion Stock Alerts is a paid promotional company, they recommend companies that pay them to pump their stocks. NO BS...
Yes FFMGF has found some traction with gold appreciating, but I'm still sidelined. I've notice with the finalization of each acquisition, pressure is put on the share price. On 4-8 with Clifton Star, on 5-16 with Tamaka Gold, and the most recent on 6-18 with Cameron Gold, where shareholders of Tamaka received an aggregate of approximately 92.5 million common shares of First Mining. Outstanding shares recently went from 312.8 mil to 368.45 mil, and I expect that number to grow. While its normal for a company to finance purchases with stock, it also caps the share price as investors pay for each additional purchase via dilution. I own some NG, GSS, HMY, MUX, and ABX, so I'm not awol and did make some $$, but just stepped out of FFMGF for awhile because it was clear that dilution was preventing stock appreciation even when gold was climbing.
The stock price may go up on greater production, but Banro made some financing deals that will limit their profit margins because they'll be forced to sell gold at a lower price even if gold goes up. They borrowed money against future gold production and guaranteed the lenders a lower price. http://seekingalpha.com/article/3976153-banro-corp-s-future-looks-gloomy
.33 cents is overhead resistance. BAA hasn't been moving like most miners because of the unorthodox debt deals they made to finish construction of the Namoya mine. The company agreed to sell its gold at lower prices, so they won't profit from higher gold prices. This will have a negative impact on future earnings for years to come.
Its the; "New purchases are financed through dilution" that worries me. It seems a lid was put on the share price because of it? But that's how RGLD got started, which is why I purchased FFMGF in the first place.
I stepped aside at .56 a few days ago, didn't like the price action, stock was down even when gold was up, almost like stock dilution was occurring? Also got an email from 'Lion Stock Alerts' who recommended the stock (a paid pumper). Companies that resort to those solicitation tactics make me nervous. But I'll likely buy back in when this downward slide dissipates.
Well, BAA down another 2 cents on heavy volume and gold up $10 at $1285. Still suffering from that huge dividend paid on preferred sharers. Being so highly leveraged, BAA has got to deliver on increased production and high margins.
I may be ready to run.... Gold up $18 today, silver up .62 cts, but BAA does nothing on heavy volume? All my others miners are up (nicely), but BAA is dead in the water with huge sell orders? Kind of depressing.