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Likely to be because of the money involved to develop it I guess.
There's allegedly 37 million oz of Gold there and LEX have bought into it
Helps if you read the RNSs and understand what they are actually getting their hands on
Extract from 26th June RNS
"White Rivers Exploration Proprietary Limited ("WRE"), an exploration and development company with significant gold assets in South Africa (the "Proposed WRE Transaction")"
The significant Gold assets in SA is where the huge value lies
Clearly the market hasn't woken up to that... yet ;)
According to their websites its all in USA
so whats south africa got to do with it
Probably delayed but looks cheap here
If you think it’s cheap maybe ask the successful Billionaire why he’s selling such an asset on the “cheap”
Is S.Africa “safe”. Is there a growing Russia/Wagner influence?
Yes but South Africa is mega exciting and so is this WRE Asset. Transaction due to be completed imminently and will add £10s of millions of pounds onto fair valuation
They will be proving up a substantial resources over coming months. I still can't believe they got the asset so cheap
Err wasnt the gold rush in usa/canada like 150 yrs ago ?
Added a couple of buys small on a new account. MMs gonna have to let it go, maybe some news about to drop? Really so much potential its hard to speculate where and what will be next.
Nice 250k at 6.25p Full Askk just popped up delayed from earlier.
Yea look out for some more delayed prints. Buyers behind the scene
I was lucky first thing to buy some more at 5.59 just after 8am...
I saw Friday's late trades, but I did wonder why there was little movement first thing
I've had this stock a long time and I trust the man from Stellenbosch!
It's his PhD in mineralogy that does it for me
Yep,looks like that recent downtrend,is ending
NT at 5.8p. Can't really buy anything sub 6p
Something is loading
Watch out for delayed prints
Frankly Genius, I am surprised that the market is still doubting that the deal is done and dusted. The only thing that they are waiting for, is for BDO, the business re-organiser, to complete the transfer of the shares in WRE to LEX. LEX has the cash, the creditors are being paid off and the offer that LEX made to the creditors has been accepted by BDO. I agree that a certain amount of caution maybe warranted on the basis of "its not done till its done" scenarios, but I would be begging, borrowing and stealing to buy this stock at current levels!! Its insane.
Seen it, so added a tiny buy myself
Look out for a delayed print
Someone pulled the trigger. Maybe WRE transaction about to get wrapped up
Full steam ahead if so
Thanks Rose.
Been adding when I can. Excited about the deal.
Hi OAPK, we know from the deal announcement that there is potential dilution of up to 30% from the CREASY/WRE acquistion, and maybe they have to sell a few more shares to fund exploration for up to 40mn oz, yes, 40 MILLION OUNCES!! Frankly, do I care about 50% dilution? Not on my nelly.... Reason? What are we getting in exchange? Potentially 40mn oz vs the 220k or so we have in hand in the Carolinas. We have just acquired an asset that potentially has 18,000% more gold in it and could end up being a new gold field. Don't forget that you can always buy more shares in the market at these levels, slightly below the recent capital raise price, that would prevent dilution, and you would be getting stock at a cheaper price than the "Gnomes of Bangkok"!!
So for my money, who gives a damn about 50% dilution if we get an 18,000% uplift in reserves? Surely we are splitting hairs here. Also agree with genius that confirmation that the WRE asset acquisition is completed will support the price. Its a slam dunk anyway. Its in the power of the Business Reorganiser to grant this and it has already accepted LEX's offer, which LEX has already raised money off the back of. Its happening!! And its crazy cheap!!
Video interview below ;
“…One of the reasons that Lexington has a strong following is that shareholders know that we unlock value by putting the money into the ground. We are not a lifestyle company. Every single cent is turned over three times and we make it work for us…”
https://total-market-solutions.com/2023/07/lexington-gold-ltd-july-2023/
Dilution ?
Very encouraging results from Argo Asset.
WRE acquisition being completed soon should really spark this into life
Results of surface sampling programme at Argo Project, USA, confirm and define surface gold mineralisation of over 10 g/t
Lexington Gold (AIM: LEX), the gold exploration and development company with projects in North and South Carolina, USA, is pleased to announce assay results received in respect of the completed surface exploration and trenching sampling programme at its Argo Project (the "Argo Project" or "Argo").
Actually its Nealon who is the Witwatersrand expert among this new configuration of WRE/LEX. Nealon was involved with Aquarius Plats and Sylvania Plats and if you google him, you will see he has great knowledge of the geology of the area. I reckon that's why Creasy injected his assets into LEX, to capitalise on the South Africa knowledge bank already in place there.
As to ounces, I'll be happy with a million or so... after all, SA gold is alluvial in the Wits, you find a bit, you're likely to find much more. But agree that the more the merrier.