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Bamf... thank you that is super interesting.... "The Company has this week signed a contract for the services of a highly-qualified, UK-based Metallurgical Consultant who is developing the specifications and sourcing equipment for a commercially viable gold and silver gravity separation project."
bushytail - sorry for the delay https://www.londonstockexchange.com/news-article/GWMO/operations-update/14921806
You read my mind. I'm finding myself everyday with one eye on the gold ticker, like a slow moving cricket test match. Feels like the pitch has started breaking up on the morning of day 5 and things are going to happen one way or the other.
Gold flying now. I think this time we break 1800. HUM will benefit immensely...not long now before this SP starts moving....its some bargain at the moment
Check out GDP btw, very early days Gold tailings producer. I fully intend sending some my profit over there when this eventually rerates
JLP's good, although I prefer THS and SLP
@BushyTailed If you like Tailings try Jubilee Metals who focus on converted other producers muck/tailings into metals.
Thanks @BushTailed ... a very useful table but surprised Anglo Asian Mining AIM:AAZ producing Gold, Silver copper is not on CHIPs list.
With regards to GWMO I am invested and I have run the calcs myself and not sure where Bamf gets £26m from, but £2.6m to £3m would be a reasonable assessment of revenue.
ATB APR
I'm not so sure that they're really a comparable alternative to HUM but I do concede that it's they're an interesting one that I have previously overlooked and have put them on my watch list now.
Now tailings really interest me! Do you have a link for that Lab report, I can't seem to find one?
Bushytailed - (GMO) based on the lab results from the tailings (March) company market cap is £6 million and recon a conservative value for the tailings alone is £26 million
Thanks Asp, do you follow CHIP's thread at all on ADVFN, He posts a useful peer group list from time to time based on his own scoring method and is quite interesting.
@BushyTailed My answer is wholly dependent on:
(1) where you think metal prices will be in 6-12 months time given current Gold weakness as DXY strengthens
(2) relative leverage to metals price given underlying AISC and debt
By my rough calcs HUM forward guidance (AISC and metals produced) indicates free cashflow multiple of 2x to 2.85x current MCap whereas another of its peers Resolute Mining sits at around 3.4x FCF on last quarters production albeit RSG carries a large amount of debt vs. HUM with next to nothing. RSGs AISC currently stands at $1,239 vs. HUMs $1,494 although forecast FY AISCs are not dissimilar.
If someone has the time to work through HUMs peer group my guess is it would still sit towards the bottom end of the peer group on FCF to MCap basis but accept that there maybe better ways of valuing these producers.
I hold GWMO and also rate it as a pure Explorer as it has no production.
ATB APR
Thanks Bamfman but how so?
On the surface GWMO is loss making, with no production and only has 20 months runway.
answer - GWMO ! Great Western minerals
But who's got a better UK listed gold miner at the minute and why?
Genuine question lets see what people actually think of the market.