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Landore Share Chat (LND)

Share Price: 1.45Bid: 1.40Ask: 1.50Change: 0.00 (0.00%)No Movement on Landore
Spread: 0.10Spread as %: 7.14%Open: 1.45High: 1.45Low: 1.45Yesterday’s Close: 1.45

Share Discussion for Landore

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Posts: 10,969
Off Topic
Opinion:No Opinion
RE: imo
21 Mar '18
madsktpan - I get the anger, I would be annoyed too. However lack of finds prior to BAM isn't entirely the fault of the directors. Only in the past couple of years have things really began to motor. Unfortunately their habit of raising funds in the quiet season when there is zero interest in the stock has been hard on existing shareholders, myself included. I knew a raise would come but I was hoping it would have come a lot sooner when 2p looked like an option. The trick now will be to average down and trade some on the peaks. I haven't checked the maths to see whether 600koz is feasible from 12,000m of drilling based on previous intercepts but there must be a reason they stated this. CAI are conducting 15,000m of drilling this year and there is some expectation that they will uncover an additional 500koz to 800koz of gold on top of the 700koz already confirmed. Assuming you're right, I believe even the mere doubling of the resource and the right kind of institutional backing (perhaps at project level) would boost confidence in the project and the value of our shares. An early summer top up in order to average down may be rewarded once the drill results start popping up
Posts: 1,548
Off Topic
Opinion:No Opinion
RE: imo
18 Mar '18
Are you sure about that?
Appreciate they don't feature per se but there is reference in the letter to s/holders to "Subscription Securities being subscribed by certain existing shareholders directly with the Company".

Mind you, in the past they've always made a point of mentioning their own participation/involvement in any fundraising. Not this time.

Nobody has been more of a critic of this pair than me. I'd like to think what I was saying 7-8 years ago on BBs (and getting shot down in flames) have proven to be pretty accurate & justified.

It would be nice to believe we really are entering the end game here. And if so, this is a very attractive entry point to invest at sub 2p.
I just feel sorry for those that got sucked in by all the bullish ramping over a decade ago and have lost their shirt in the process. And can only look forward, at best, to get their shirt back at some future point. But there'll be no pot of gold or profit. Not for them.
Posts: 221
Opinion:No Opinion
RE: imo
18 Mar '18
And note that neither WH or RP took part in the placing.
Will watch this one from the sidelines.
Posts: 1,548
Off Topic
Opinion:No Opinion
17 Mar '18
they have just given away yet another 20% of the entire company extremely cheaply.

This Co launched on AIM over 12 years ago at many multiplies of the 1.5p.
Those that subsequently invested based on all the hype from the directors at 18-20p will struggle now to ever see a profit.

Essentially only 2 exec directors. One who is part-time. A bean counter who by his own admission knows little of the industry. "can't tell one rock over another". The other is near 80 years of age.
15+ years of digging holes. There's an industry yard stick that says if you don't go from initial exploration find to a producing mine in 7 years then the likelihood of it ever happening is remote.
It's ambitious to be suggesting that the next round of drilling will more than double the resource. They have been digging for gold on & off since first announced back in 2008. They may well 'advance' the numbers in next round of drilling. But more than double it in one phase strike??? Really??

In their defence - at least they haven't thrown in the towel, given their poor performance over past 2 decades - here & elsewhere. Although they have managed to pay themselves quite generously under the circumstances whilst with that source of income participate in the many fundraisers that have allowed them to retain their own % holding in the Company. Whilst many longstanding private investors have been shafted and sitting on hefty paper loses. So far anyway.
Posts: 10,969
Off Topic
Opinion:No Opinion
RE: Cobalt exposure
16 Mar '18
Well that was quicker than expected - we have raised the capital now to push ahead with further exploration and development as mentioned earlier today. No mention of our other assets but a firm intention to complete a 12,000 metre drill programme to prove up another 600koz at the BAM East Gold deposit

1 million ounce gold resource to come this year and "technical and preliminary economic assessments" later.

My other gold exploration play KRS with a 37% stake (inc director interests) in CAI is likely to benefit from it's own 15,000 metre drill programme this year also which will likely push it's 700koz resource to well over 1 million ounces by the end of the year.

Canadian gold (LND) and Australian gold (KRS)
Landore Resources Limited (AIM:LND), is pleased to announce it has raised gross proceeds of £3.15m through a placing and subscription of 210,000,000 new Ordinary Shares at a price of 1.5 pence per new Ordinary Share with new and existing institutional investors in the Company and the issue of 210,000,000 Warrants (collectively, the "Fundraising").


A total of 196,000,000 new Ordinary Shares in the Company have been placed with institutional investors (the "Placing") and a total of 14,000,000 new Ordinary Shares in the Company were subscribed for by certain existing investors (together the "New Ordinary Shares"), together raising net proceeds of £3.15 million (C$ 5.76 million) at a price of 1.5 pence per New Ordinary Share, a 13.29 per cent. discount to the closing mid-market price of an Ordinary Share on 15 March 2018 (the latest practicable date prior to this Announcement) being 1.73 pence.

£ The holders of the New Ordinary Shares will be issued one warrant to subscribe for one Ordinary Share for every one New Ordinary Share acquired by them.

£ The New Ordinary Shares will represent, in aggregate, approximately 20.1 per cent. of the Company's enlarged issued ordinary share capital immediately following Admission.

£ The net proceeds of the Fundraising will allow the Company to complete a 12,000 metre drilling programme aimed at advancing the existing BAM East Gold deposit to a 1 million ounce gold resource and completion of technical and preliminary economic assessment thereon.

£ The Fundraising is subject to approval at an extraordinary general meeting of the Company ("Extraordinary General Meeting"); and

£ A Circular to Shareholders in respect of the Fundraising is expected to be posted on 16 March 2018 giving notice of the Extraordinary General Meeting to be held on 3 April 2018 at 11 a.m. at La Tonnelle House, Les Banques, St Sampson, Guernsey, GY1 3HS.

Strand Hanson Limited ("Strand Hanson") is acting as Nominated Adviser to the Company in connection with the Fundraising, with Cenkos Securities Plc ("Cenkos") acting as the sole broker on the Fundra
Posts: 10,969
Off Topic
Opinion:No Opinion
Cobalt exposure
16 Mar '18
We have palladium, copper and cobalt assets which are early stage but going to increase in value in the coming years. Our gold play may become a secondary asset if LND are able to capitalise on investor sentiment in the cobalt / palladium arena and raise a decent amount of capital to prove up the deposit. It's a variable that only investors here know about but IF the board change tack we may see a surge of investor interest like other major cobalt players have in recent months.

Price of cobalt

Article from the bbc

Last year the German giant Volkswagen tried to corner the market in cobalt. Supplies of lithium are also in hot demand. And copper has never been so badly needed.

And with renewable power like wind and solar being installed at a frantic pace, every turbine and every panel also requires key metals. Add to that the boom in consumer electronics and there are real concerns about future supplies.

With cobalt, it£s estimated that by 2025 Volkswagen will need one-third of the current entire global supply for its electric cars.

Massive new battery factories are being constructed £ like Tesla owner Elon Musk£s famous Gigafactory - and they too will be hungry for cobalt.

Bram Murton, a geologist with the UK£s National Oceanography Centre, says that if all the cars on Europe£s roads are electric by 2040, and if they use the same kind of batteries as the Tesla Model 3, that would require 28 times more cobalt than is produced right now.

At the moment more than 60% of all cobalt comes from the Democratic Republic of Congo. For decades allegations of corruption and human rights abuses have swirled around parts of its mining industry.

Last year Amnesty International said there were children as young as seven working in the DRC£s cobalt mines, £in narrow man-made tunnels, at risk of fatal accidents and serious lung disease£. Microsoft, Renault and Huawei were among the companies named as failing to check if their supplies of cobalt involved child labour. They£ve all since promised to improve their systems for checking how cobalt is sourced.
Posts: 43
Off Topic
Opinion:No Opinion
Strange drop to bargain basement
16 Feb '18
on so few trades. Puzzled by something else too; the unusual proportion of buys and sells immediately cancelled over the last month. Very odd, to me anyway.
Posts: 10,969
Off Topic
Opinion:No Opinion
8 Feb '18
New Corporate Presentation

highlights I took from it include a 20,000 metre drill campaign this year with the intention to boost the current 400koz resource to over 1 million ounces. They will then complete a PEA and at a later date the PFS

On the 5th Feb we received an Updated Mineral Resource Estimate

This was the B4-7 Nickel-Copper-Cobalt-Platinum-Palladium Deposit on the Junior Lake Property which is different to the BAM East Gold project and includes additional drilling results since 2012

Condensing the information

- The total resource has increased by 43%
- It now stands at 3,292,000 tonnes at 1.20% Nickel equivalent (NiEq) in the Indicated category and 568,000 tonnes at 1.26% NiEq in the Inferred category for a total of 46,661 tonnes of contained metal.
- The open pit of the B4-7 Deposit has doubled to 1,772,000 tonnes at 1.20% NiEq in the Indicated category for 21,264 tonnes of contained metal.
- This is over a strike length of 900 metres and a depth of 550 metres and remains open along strike and at depth.
- New Exploration Target identified down dip from the resource which may contain a potential 18,000 to 24,000 tonnes of contained metal to add to the resource.
Posts: 2
Off Topic
Opinion:No Opinion
News due?
30 Jan '18
Must be due news here any day now?
43-101's followed by TSX listing.
Could be an interesting year.
Posts: 10,969
Off Topic
Opinion:No Opinion
RE: 950k
21 Dec '17
"To support any application to the TSX, Landore will be required to submit an updated NI 43-101 Technical Report on Landore's Junior Lake property to include all of the previously reported mineral resource estimates as well as the BAM East Gold Deposit. Accordingly Landore has engaged Roscoe Postle Associates Inc. ("RPA") of Toronto, Canada to complete the Landore Junior Lake Technical Report which is scheduled to be finalised during Q4 2017.

The Technical Report will include resource upgrades on the following:

- The BAM East Gold Deposit: February 2017 Mineral Resource Estimate of 301,000 ounces gold plus upgrade to include 11,060 metres of additional drilling in 2017.

- The B4-7 Nickel-Copper-Cobalt-Platinum-Palladium Deposit: January 2013 Mineral Resource Estimate of 2,695,000 tonnes at 1.24% Nickel equivalent (NiEq) in the Indicated category for 33,248 tonnes of contained metal, plus upgrade to include 16,910 metres of additional drilling in 2013/2015.

- The VW Nickel-Copper-Cobalt Deposit: January 2010 Mineral Resource Estimate of 3.73 million tonnes at 0.49% NiEq in the Indicated category, and 0.72 million tonnes at 0.49% NiEq in the Inferred category giving a combined total 21,760 tonnes of contained NiEq metal.

The Technical Report will also include a review on the following:

- The Lamaune Gold Prospect: Exploration Potential of 40-50,000 ounces gold.

- The Lamaune Iron Project: Exploration Potential of 300-500 million tonnes at 25% to 35% Fe.

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