Diamonds & Dogs: Got any idea why Dawn own(ed) a red light district hotel? Sex Tourism maybe…
Diamonds & Dogs has nothing against Ian Saunders and his team at Falcon Gold (Falgold) now owned by New Dawn Mining.
He just has this feeling that someone is managing the share price. There have been literally no trades and the price continues to be bid up.
Kind of looks weird, doesn’t it? Shouldn’t SEC and ZSE be investigating share price movements of more than 20% per day? Not only Falgold but every other stock! Investors have to feel safe and have to have confidence in the capital markets.
The regulators have to enforce that confidence through ensuring the market players play fairly.
No one wants to be the Greater Fool!
Diamonds & Dogs did comment two weeks back about the Falgold numbers that suddenly came right. He will however not go into further details about the fundamentals as he has no idea (as of now) about the associated extraction costs, ore grades, certified ore reserves (if any), capex and opex gaps
Now, with these tidly widly trades less than $2,500, the gains may not mean much to any investor.
Diamonds & Dogs will wait and see if this is a bubble (he thinks it is), given that the company still has no concrete provider of the US$10m that required for further optimisation of operations.
Diamond: Falgold (US25c, WTD: +61.29%, YTD: +316.67%, Mkt Cap $27,791,283)
Falgold’s Weekly Trading Statistics
Attribute
|
09-July
|
10-July
|
11-July
|
12-July
|
13-July
| |
Falgold’s
|
Price
|
Bid 17.50c
|
Bid 20c
|
22c
|
25c
|
Bid 25c
|
Volume
|
-
|
-
|
8,881
|
1,141
|
-
| |
Value
|
-
|
-
|
$1,953.82
|
$285.25
|
-
|
Dog: Dawn Properties (US0.60c, WTD: -25%, YTD: -0.14%, Market Cap $14,743,033)
Dawn is probably not any investor’s favourite play right now. Tourism sector not doing well, acrimonious landlord/tenant relations not doing well either and to make it worse, the tenant is now buying shares in the landlord’s company.
One would also be wondering what on earth Dawn management was thinking when it bought Bronte Hotel in the first place…perhaps looking for a place to do sports after working…after all the hotel is at the nucleus of the red light district! Or may be promoting sex tourism…
Still on Dawn, how is it that Dawn’s Chairman got the contract to build a hotel for NSSA to be managed by RTG, a competitor of Dawn’s tenant? Isn’t that a conflict of interest?
And how about the same contractor misrepresenting to the SPB that it had the money for the NSSA project only to come back asking for money to carry out the same.
And what’s it with failed (or failing) businessman accusing others of poor management. Talk of the kettle calling the pot black!
Dawn Weekly Trading Statistics
Attribute
|
09-July
|
10-July
|
11-July
|
12-July
|
13-July
| |
Dawn
|
Price
|
0.75c
|
0.70c
|
0.70c
|
0.60c/0.80c
|
0.60c
|
Volume
|
203,137
|
60,884
|
114,886
|
-
|
380,034
| |
Value
|
$1,523.53
|
$426.19
|
$804.20
|
-
|
$2,280.20
|
The Weekly Bulls n Bears
Bulls
|
Bears
|
ZSE Round Up
Market Performance:
§ Total market capitalisation dropped 0.31% to close the week at $3.67bn. YTD -7.59%.
§ The Industrial Index closed the week 1.68% lower at 131.55. The Mining Index closed the week 17.29% higher at 90.90.
§ Amongst heavyweights, Econet registered a loss for the week of 2.33%, while Delta and Innscor were overall unchanged.
§ Falgold, RioZim and ZHL were the top gainers of the week, up 61.29%, 25% and 13.64% respectively.
§ Lifestyle, Nicoz and Dawn recorded the most significant losses, down 52.62%, 25% and 25% respectively.
Flows for the week:
§ Volumes traded and turnover totalled 25.18mn shares and $6.47mn respectively.
§ Share volumes averaged 5mn shares per day.
§ Average daily value traded was $1.29mn for the week. Trades were dominated by Econet, Delta and Dairibord which made up 48.72%, 17.06% and 7.84% of turnover respectively.
Invest Wisely!
Notes
**The author of this report does not hold shares in any of the companies discussed/ mentioned in this report.
** Statistical information was sourced from ZSE, IH Securities & Bulls n Bears (www.bulls.co.zw)
Bulls n Bears
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