you are talking nonsense. The additional over allotment shares can be bought ONLY at 66 cents. go and read the details. Please don't distort the facts.
Filter all this manipulated #$%$, as painful as it is.
If you believe gold is going higher, if you believe the company has good management, if you believe the company is turning it all around and so on, then I say this company will star. The market cap around 170 million is ridiculously low. RGLD, a savvy streamer does believe in all this and bet over $150 million on this company after extensive checking. So, I have no fear we will make it big. The criminal manipulation will eventually end and gold shall prevail as this criminal system shall collapse on itself. The tribal FED is out of ammo and is desperate. All it can do, as it has for the last few yrs, is to threaten rate rise since the economy is "improving". What we are witnessing is an implosion of the Kenyesian system built on unpayable debt. Good riddance the criminal banksters, you should all end up against a wall, starting with the FED. You have destroyed our country.
Thanks a lot wild_gold. I did look at GSS shorting and the latest period actually shows a slight decrease to 7.5 million shares short. Also, not much in terms of call/puts , except Aug 19th,16 has 7930 calls and 1278 puts contracts, clearly not enough to be of significance. Who knows what goes behind the scenes. Do you know if all the shorting and puts that goes on is shown in info that is available to mortals like us???
Many comments have been made here about why GSS is not moving up with the sector due to the bought financing deal. I understand that the deal introduced at least 10% more of GSS float and as such the dilution may be retarding the stock right now. I would like to understand though why, as many commnets posted here suggested, the stock is being shorted/kept at 66 or below as to benefit the BMO deal. I do not understand why that would be the case. The additional shares BMO can buy directly from the company at 66, so why would anyone care????
I only see the dilution effect depressing the share price now. Can anyone shed more light on all this ?????????? Thanks a lot!!!
Sentiment: Strong Buy
Adjusted net earnings for qtr1 16 came in at $4.2 mil. That equates to $79/oz of mined gold. The cash costs in the qtr were $721/oz and the average gold price at $1185. BTW, the average cash costs for the GDX index for the qtr came in at $592, so we are right there with the blue chips, yet amazingly undervalued.
The current qtr average gold price has so far been $1252, so far so good. But why is the company expecting the cash costs jump in the second qtr into the band of $815-$915. I see some drivers , such as the 2 wk Wassa shutdown etc, but can find no big reason for this anticipated jump.
It would be great to end the correction in a V shaped recovery, but nothing is normal these days. Wish I had more cash to commit at upper 50s, but I am not willing to trade GSS as it can leave you totally behind. Can imagine trading your position at around 15-20 cents/a share. You would be left out cold. On the next sector rebound we should be able to take out $1....Just a matter of time. period....
First, the GSS realized gold price of $1159 for qtr1 2016 seems somewhat low, but it was $1192 for AEM and $1183 for ABX, for instance. The lower realized price for GSS is likely due to small temporary hedging.
9.25% of GSS gold production in the quarter delivered to RGLD can not be in the nos above. We know that GSS spent about $3,542,700 delivering 4,900 oz to RGLD (AISC of $963 - 0.2 x 1159) x 4,900.
Does anyone know where this is being accounted for?? I would really appreciate the info!
I estimate the total impact of this delivery to the bottom line at about $4,500,000....IOW, the earnings per share could have been about double ..so, things look even better once you consider this as GSS is sort of paying off the RGLD "loan"....be done in ~ 10 yrs and then 5.5% in perpetuity. I still feel GSS gave away the farm when the company revised the RGLD agreement on Dec 31st, 2015 since GSS almost doubled the NSR to 5.5% at $300/oz....that was a very expensive $15 million loan. You can think of it as almost 50% interest loan for perpetuity on that amount with gold at around current levels. Maybe GSS had no other choice back then.
Still, Overall, I think GSS will be a huge winner given time and better gold prices.
Sentiment: Strong Buy
that is the way I see/read it. they have 30 day period to buy up to 15% more shares right at the offering price, directly from GSS. Why would they go into the market...keeping it hi/low, I don't understand that argument.
around 5 cents, BUT the 9% plus of output being delivered to RGLD at $200/oz will bring this no down to around 3 cents....so my my call is 2.5 to 3.5 cents............
I would like to hear you thoughts about the drag on GSS performance over the next 10 yrs from what GSS must deliver to RGLD in payment for all the money GSS got. I am very baffled by the dilution and the timing of it. It bothers me. With the RGLD deal, the debt should be manageable due to its dates- due over the next 2-3 yrs even with gold near these levels. Maybe, the comp is trying to play it too safe???
Overall, I think it was a great deal with RGLD or GSS may have been done by now. I am going to build an excel pgm sheet to see how the sensitivities to gold price and All-in costs play against earnings with the GSS gold deliveries to RGLD. Obviously, the pain can be lessened a lot with gold prices moving way up, but for now it is of concern.
I am in GSS a big time, ... overall I think we have a lot to run from the current market cap(diluted) of just over 200 million..if all the projects deliver as GSS thinks. I figured GSS should see $2.60-$2.80 with gold prices at around 1300-1400 once we get to middle to late 2017. If gold heads way up, it may get very interesting.
a side note. I am beginning to believe the gold manip. game is nearing the end, forced upon the criminals by more honest gold pricing by Shanghai involvement and also by the dollar weakness that I believe will accelerate. The rumored G20 secret decision to let the dollar devaluate against the Forex basket from 900s levels to 700s would alnoe see gold around 1600-1700.... I don't think we will see any rate increases this yearv or next...may see NIRP first....that would do it !!!The fact is that the FED is out of ammo and is impotent to do much. Could not have happened to a nicer bunch of criminals. Lets see first what the earnings are next week. Any guesses??? I think around 3 cents.
Not sure if I am looking at it correctly, but here is my estimate(sounds pretty high):
assume: all-in costs at $950 / oz, assume RGLD paying $200/oz for these ozs as stipulated in the agreement
1. by not keeping 10% of production, GSS does not realize about (5200*(1250-950)=$1,560,000, so about 10% of profits
2. yet, the cost of production of these 5,200 oz = 5,200 * (950-200)= $3,900,000 is born by the company
so, the actual earnings can see a hit of about $ 5,460,000, or roughly 30% .
I estimate about 4.5 cents ps earnings and this will take it down to about 3 cents, if we are lucky, more likely 2 cents.
Sentiment: Strong Buy
raising 15 mil this way, at a time like, after their claim they have all the $$ they need to bring the turnaround to production simply smells fishy. I have a big portion of my investments in GSS and am baffled, to say the least.
This says that the additional, up to 15%, can be obtained at the offer price of $.66 from the company. I don't see any reason why this would be keeping the share price down, except it is all viewed as a bad deal GSS did. BTW, they are giving the banksters 6%, that is $1 million for this robbery. I am truly pi**ed at GSS for doing this. They have taken the wind out of our sails(at best)....WE COULD HAVE BEEN NEAR $1 BY NOW.
probably closer to your number in light of the fact that about 10% qtr1 production is going to RGLD at $200 production cost....am I right??
2015 qtr4 cash op costs came in at $715. All-in sustaining costs for the same period were at $896. If you assume the same results for qtr1, I can see earnings per share around 5 cents from ops. The pre announcement seems to indicate qtr1 should be at least as good? Am I wrong??
do you know what is their debt to Ghana Power in total???? I am surprised they did this since long term debt is :
-due in 6/17($46 mil debenture)
-due in 2019 to0 Royal Gold $20 mil
-Eco Bank $22 mil...not sure when due...
you seem to know more than most , can you pls write more about your opinion of all this and what the impact of this will be short/long term????"
Below is a segment from 12.31.15 GSS news release. It states here that in order for GSS to get an additional $5 million of stream financing, the company must procure a minimum of $5 million from third party financing. Too bad it is through dilution , but does this bought- deal- financing qualify??? I think so.
I am still amazed the company did this dilution at this stage of the game, giving away 10% of the company to the sharks. Makes no sense to me. It almost sounds criminal to me....
All this, 250,000 oz of gold going to RGLD from future production, then 5.5% NSR for perpetuity, 10% Ghana gov cut, this dilution....how much is left there for the upside, for us the investors??? I am very disappointed. If they did not do this we could have been over $1 after today. Someone knew about the dilution coming up and the stock was grounded for weeks in anticipation.
ANY COMMENTS???...would appreciate them. Am I too pessimistic???? I have a huge chunk of my investments in GSS as I have felt that despite all this, minus the latest dilution, the market cap of GSS was insanely low....
News release from Dec 2015::::
Golden Star Announces Amendment to the May 2015 Stream Agreement with Royal Gold
At Golden Star's option, an additional $5 million of stream financing is available subject to certain conditions including procurement of a minimum of $5 million of third party investment -
almost any share buy amount was filled at .70 or a bit less. It was a gift to those trying to establish a significant position without driving the price up. Obviously, there are entities that bought stock at 16-18 cents and huge profits accumulated at the current price level...These are the guys giving the new buyers a gift especially at stock cycle lows..,.... $1 in sight, $2 before the end of the year if gold goes over $1400....and it will....!!!
very, very well idiot!!!! thank you for asking. up almost 300% this year so far and expecting another double soon. How are you investments idiot?????