MGA is not a bookable asset and I didn't mean it to be assessed in that sense.. TalkingSense talks about potential values (or speculative premium) mga does have a lot of potential value because one day it will be a very valuable deal maker. .. it's this potential value of MGA that i am attempting to quantify.. and I still believe that 2.9M is a fair and conservative figure.
About time we moved out of this range. We should be above 0.3 but we have a lot of people taking the 10% profit. The MMS have manipulated this share for far too long and made it a traders paradise. About time they started to play ball and move this north. The AIM is getting so corrupt and it is going to change. GLA
I almost agree with Squiff that Itogon has no value (it does have a current re-sale value) ...but it does have potential. An potential is what drives a AIM share price......you cannot make money if all the potential has been realised as the value is already priced in and the SP cannot rise.
ECR has potential in spades with Itogon and being only c9 months (guesstimate) away from JORC and a provable large resource makes this a good investment. As we move through the process required to move towards the JORC and the resource and commercial potential continues to be proved up then the SP will move towards that final value SP. Monetising MGA is a massive step as it could provide an income stream and prevent further dilution. SLM could come on line relatively quickly and also provide revenue.
Personally I think MGA will cover Itogon, SLM will provide a steady income and once we have the JORC at Itogon we will sell our stake for a considerable amount (the current £8.5m maket cap will be a blip in the rear view mirror) and move on to new projects. No i have recently added a couple more million shares I will be holding at least 75% of my holding until the itogon JORC and may top slice on any peaks and take opportunities on dips with the remainder
You're right that the Stocktube presentation from December 2013 by Stephen starts with the figure of 500,000 oz.
It's in the ECR back catalogue of news.
Also Patric at TGR has publicly said up a 1m oz but we didn't use 3d mapping before and so I think it's safe to say 500,000 oz is the minimum expected.
Being level headed and I have to disagree yet again with squid in that Itogon at this stage has NO value only potential so to say its worth £5/6m is wrong only after all the drilling is done and we see a JORC with let's says 500,000 oz at 50/50 with TGR at $1300 less costs then you can stick a valuation on it and it will be many multiples of £5/6m that's for sure buts let's agree to talk it down
To be fair I don't believe you can put at value on SLM either, sorry Stockraider as we don't know whats in the ground except very high grades but is now being concentrated on JV - 14 area and sample results are due back in July thus proving as the RNS last said, a small scale high grade mining opportunity and very quickly.
I expect getting equipment to SLM isn't difficult as a trummel / JCB / wash plant are the basics for little investment.
Both gold plays offer considerable upside at these early exploration stages as JDwag mentioned yesterday.
LG ...I belive you can add the ECR estimate from a presentation (can't remember which one exactly) which was a range of between 500,000 and 1m oz. I would take the lower figure as a guide for now so as not to be dissapointed ...better to start expectations with the lower figure and work up rather than the other way .
The minimum expected from Itogon is 500,000 oz with one vein holding 300,000 oz alone and this is where the extra effort is being made with another round of channel sampling are being done within phase 1
We also have 3D mapping planning the drilling for phase 2
The sweet spot is from the Glory Hole going south easterly and historical estimates are anything between 500,000 to 1.4m oz however I don't believe the historical data had the efficiency we have today in unlocking further resources unknow at this stage.
We have over a 100 samples at Intertek in Manila at the moment and expect nothing else but further high grades to reinforce the concentrated effort on a small part of the 330 hectare exploration site.
The Philippines is a hot bed of natural resources and we couldn't be in a better place.
its funny you know... when i say that everyone attacks me left and right....
you can forget the MGA £3m... imho... and argi at £750k ?? not by my reckoning... still.. refreshing to see someone actually trying to break down the assets in a sensible way... Itogon could change everything... itogon i reckon is valued at £5 - 6m at present, with themac and cash as you calculate... and argi at £200k tops (they only paid 60 for it) mga = £0 at present
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