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That's helpful for my understanding of the context - thanks JCEP.
Hi Evidently
I'll start by saying I am not a mining expert. However, I have invested in this company for over a year and did a lot of DD before investing in the IPO. The detail of the Investment Memorandum was very compelling. But above all, I spent a good amount of time with the CEO and a couple of members of his team. My decision was largely based on the management team. So often in the past I have backed a good idea and not the management team which has lead to some poor returns.
Aside from that, my basic analysis was based on the expected cost of getting high quality deposits out of the ground versus historical gold prices. Of course, I am therefore quite excited about the investment over the next few years.
JCEP thanks but I guess it wasn't clear enough what I meant - the Competent Persons Report from the website does give inferred estimates at Nalunaq but makes clear that they cannot be regarded as indicated resource. So I was using the previous operator's numbers as a (perhaps optimistic) figure. Really I was responding to Up Up's thoughts and making a general comment about the balance of risk and reward here, compared with a pure exploration venture, or the other more operational ventures where Up Up and I seemingly are both invested (HUM, PXC). Did you have any view on that? Cheers, Ev.
Ev
I suggest you look on the company website. You will find a lot more useful and up to date information
Hi Up Up,
I'm in a similar position with existing portfolio and wondering about getting in here too. It's more speculative than the others you mention though, right? The risk profile looks similar to a company at the exploration stage (i.e. significant risk of failure) but with lower costs of production (so greater reward for success) due to existing infrastructure . The restart of old operations at Nalunaq looks like it has a reasonable probability of reducing the cash requirements of the exploration side of the business by generating several million USD before resource runs out ( I'm basing that on the old reports here https://www.investegate.co.uk/angel-mining-plc--angm-/rns/interim-results/201211300700093816S/ ). Is this also your view of the type of risk-reward this represents?
Cheers, Ev.
Hi guys this is my third gold along with HUM & PXC
What made me come here was the following article I read yesterday.
AEX Gold (TSXV:AEV) is intending to admit its shares to AIM alongside a £45m placing. The Company, led by CEO Eldur Ólafsson, has established the largest land package of gold assets in Greenland with a current portfolio of licences covering 3,356 square kilometres, in the two known gold belts in Southern Greenland, the Nanortalik and Tartoq gold belts. Nalunaq is a high-grade gold asset with an updated Inferred Mineral Resource covering 422,770 tonnes at 18.5 grams per tonne of gold, or 250,970 ounces of gold, which covers the area in and around the historical mine. Due 31 July. Current mkt cap C$66.7m.
GLA