Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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Looks like has bounced of 45 cents .
Onwards and upwards .
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One can only concur with Gavstar and his summary .
One hopes for better grades and mineralisation to show up very , very soon .
Well done All holders .
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The plod towards fair value continues .
What will fair value be ?
One assumes above £1 and beyond may be achievable.
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Yeah its been a terrible investment for me i sold years ago. At a heavy loss i learned a good lession about the problems of mining gold its expensive and not straight forward. Happy to say i am back in for a few shares
hah, yes luddite.
in a nut shell..
The mining operation has had nightmares due to blasting permission and supervision problems with the local authorities, the happy duck brigade complaining about this little mine being a blight on the countryside despite the economic bonus to the area and not realising the best thing to fund their prospects of the site returning to beauty was to let the mine work, the funding issues and of course CV-19..
There's probably a bunch more but the bottom line is.
The potential SP could have been 200p once the mine is operational and working to proper capacity, but they just diluted us massively by selling a huge number of shares at the cheapest ever price making annoyance for long term holders, but fully funded the mining.
Now we can expect an SP maybe approaching 100p instead, but only after a load of news flow has cemented the mine being operational and producing gold at it's capacity..
Cheers and GL
What a marvelous day, I just need the price to rise by another 100% and I will be breaking even so I recommend everyone to buy these so I can at least get my money back, I must have had a good reason to buy these in the first place just cannot remember what it was, probably some useless tipster.
As expected the excitement is palpable .
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Looking good but they'll need much much more volume than for those 20p II's to make their quick profits.
This should get back to 50p to 60p (Soon to be 25p to 30p) range as that's what it was before the "Smash & Grab".
The plod upwards resumes.
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"One anticipates a nice slow paced rise from here to above £1"
No chance. One thing we now know for sure is that they'll be issuing more shares to their mates at knock off prices, bringing that potential growth down and down.
Canada seems to be motoring .
Now can It transfer to the UK .
One anticipates a nice slow paced rise from here to above £1 .In the next few years .
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Fully funded, but wasn't that slowly happening anyway ? All our income was going towards capex, and just the last quarter alone raised half a million dollars.
I cannot be the only shareholder annoyed with the blatantly greed driven and seemingly pointless amount of devaluing our shares are about to be dealt. A potential market cap of £100m used to mean a potential SP of 215p, now it will mean less than half of that. Was it even worth it to get rid of that potential growth when the capex could have been raised in a couple of years anyway, and then dilute at 50p to 100p to get the capex over the line, not 20p (basically the lowest share prices ever for GAL, blasting and CV19 crisis aside).
The company is about the raise the number of shares to around 100m from 46m currently.
The last fundraiser was already done at a crazy low price 50p equivalent, diluting shareholders.
At 20p our market cap will be 20m.
Going by The Mining Plan :
https://www.galantas.com/operations/2014-resource-assessment/
https://www.galantas.com/assets/Uploads/92d7d9741c/July-FINAL-GAL-43-101-PERC-2014v9.pdf
OPERATING CASH FLOW AT AN AVERAGE GOLD PRICE OF UK£750 PER OUNCE, production of UK£394 per ounce Over 6 years : £33,331,706 works out as production of 93600 oz.
Updating with reasonable estimate, Gold prices of £1200 costs of £450 per ounce
Means new estimate of returns is £70m - As an MC that's only a potential SP of 70p (old 7p).
Assuming there will exploration and the LOM extended to 10 years or more.
Year 3 to 5 show the most generated cash. With gold prices of £1200 instead of the £800
Quoted then a reasonable estimate of £20m for the year, with 50% returning to shareholders could mean an MC of 100m to 150m and an SP in the region of 100p to 150p
Basically, over a pound a share with the (now faint) prospect of dividends as well.
So can we see what the plan is, the old fashioned AIM mining share, rinse & repeat?
II's can buy loads of shares at 20p and sell them at 40p whilst the new CEO sells the story, the volume increases, the rampers arrive.
All well and good to be funded, but the reason for retailers and the herd to buy GAL shares has just been kicked in the teeth. IMO shareholder value could have been maintained.
I will look to sell all my holding in the coming spikes.
The kind of attitude shown in companies tends to stick, leopards do not change their spots.
Plenty of volume .
Should mean uptrend resumes soon.
One assumes huge upside is possible here .
Then again.
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Boom time ahead as 21p is now in the rear mirror.
Probably
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Nice and slow rises continue .
GGgggggggggreat .
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Well reasoned and Informative .
Thanks Gavster-NBC
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Has to be a buy at this level.
It would be nice just to get back to a market cap of £13m (27p) first, then £20m (43) as a long awaited first step. These were both MC's that held years ago.
Blasting, mining, producing.. They keep going then the rise should be steady.
If they reach their goal then no reason why an MC of £80m (170p) can't be reached, but of course there are many boxes to tick to get there.
IMO I'd like to see GAL address some of the site regards backfilling and doing more for the environment. Another gold company I'm in has done wonders with its community and beyond with relatively low cost projects of farming, water recycling, land repurpose and solar power on their site. Not addressing the environmental issues has caused such problems and delayed Galantas costing it millions and had it on its knees in the past, when addressing these issues more head on would have ultimately been more cost effective. Pave the way for problem free mining to the first target of 20k oz a year.
BOOM .
Another 20p Paid.
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20p PAID .
Should race up to 40p pretty soon.
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In my opine.
Galantas should be above £40 million MCAP.
Thus , happy days ahead / MAYBE .
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One day this shower ,may actually reign some gold again .
Bated breath awaits .
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Some good indicative volume.
Nothing to inhibit the mine development now except funds but the means are with Galantas to sell gold to get this which should self perpetuate and increase with the development of the mine, as well as bring enough funds to deal with the environmental damage.
Market cap is insanely low for the resource let alone producing again.
Weekly chart shows the MACD about to turn positive.
Anyone apart from the share-bashers I have on filter ?
I don't bother reading their posts. "This message has been filtered, please adjust your filters to view"
Can you blame these 'anti-prosperity locals' for wanting to preserve the beautiful country that they live in? GAL to the south, DAL to the east, 25% of the land area in NI has had prospecting licences issued, 30% in the Republic. Risk of fracking on the horizon too within the same council region as GAL...
Do you believe they are really 'anti-prosperity'?
Perhaps it's just a different kind of prosperity that these folk enjoy. Prosperity from a rich landscape, family, nature and a general appreciation for what they have- not 'having what they want'.
You would do well to take a lesson from them.