The next focusIR Investor Webinar takes places on 14th May with guest speakers from WS Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
It’s open ended re timelines as the deal is still in negotiations and COVID doesn’t help. Re MG’s property background, that’s his current focus. His Facebook profile also mentioned waste to energy projects in SE Asia.
Thanks Boracic
Sounds very positve and thanks for taking the time.
GL to you Sir and us all.
Hi Numpty,
the current BoD//mgt team does seem very experienced. When it was Tanzanite One in Tanzania, it was the political/cultural situation that prevented them making the most of a unique gem. It was the right decision to get out. On the other hand, the Capricorn Sapphire project seemed a disaster of their making and shook my confidence in them.
Now we are looking at 4 prospects, not mines, so the risks are high.
There are 2 things that have kept me in:
1. I'm making a big loss on my original money , so there's not much more to lose (albeit this is paper loss). I'm a bit jaded (pun intended!).
2. M M Greenwood and A Mehra. MMGs investment has to be for a good reason and he didn't sell out before suspension. My guess is he won't want to make a bid as previous posters suggested he had a property background, so he will be content for the current team to continue. Ashwath Mehra holds about 3%. Again, previous posters have mentioned him; he has a history in minerals (not exclusively, though) and founded GT Gold Corp in Canada (trades as OTC GTGDF in the US), as well as being a director in a couple of other mining companies. He is also still in, which gives me a bit more confidence.
Also, the CFO, Louis Swart holds over 4%, in addition to the Board holding about 13%.
As for gold or precious stones, I would personally choose gold every time. The price is rising and I believe will continue upwards in the medium term, especially with all the various central banks printing yet more money. Is gold a good investment? Well, consider when the US left the gold standard (in the early 1970s?), the price was $15 - currently, it's heading for $1800, an increase of 120 X. I think the Dow Jones has 'only' gone up about 5 X over a similar period.
As for possible share value on re-listing, I think other posters will have better ideas than me. RLD has stated a further raise will happen; if that's by a placing or rights issue rather than debt, it will dilute the current value, so the perceived value of the new assets will need to exceed that to re-list at a premium. Of course, it's not just the price at re-list but also the medium-term prospect of these assets. We may just have to wait for the RTO to complete to get more detail about the assets.
Overall, I'm optimistic - and more recent investors have more reasons to be cheerful! In general, I think this is a great BB. Good discussions and a nice attitude - thanks to all.
GLA
Cheers Gloster :)
What do you reckon timescales till announcements?
Sorry to ask another annoying Q but be good to hear your thoughts.
MG can buy over 30% but it won’t count for voting rights if it’s not done with the BOD’s approval. I did post about this having read the company’s articles but I seem to be invisible on this board lol.
Hi Boracic
What do you think of the current management team and the likelihood that MG putting in £500k menas there is something good going on?
Also - do you think he went over the 30% - but now does not need to report that?
Or do you think it was just the max he could buy without the formal T/O stuff?
Would you prefer Gold or Tanzanite? :)
Numpty, fire away.
It seems Pancontinental Resources Corporation was given Brewer Gold early in the year. So that's gone.
Boracic
We're all looking for some Ackers
GL
Thanks milli - looks like a spooky old gold mine :)
Send in Scooby !
Boracic
Great posts - from a real LTH and I hope we all - profit.
Can I ask a few Q plse
Potential Target 1: Brewer Gold Mine South Carolina
https://brewergold.com/
"The purpose of this website is twofold: first, to keep the public informed of the hard work being done to protect human health and the environment; and second, to provide information to parties interested and capable of returning the site to beneficial use"
https://panconresources.com/projects/the-jefferson-gold-project/
The former Brewer gold mine produced 187k oz Au from 1985-93 and has been an EPA Superfund site controlled by the federal and state governments for 25 years
The government plans to put Brewer back into private hands in 2019
Jefferson Gold Project surrounds Brewer
Highlights from the rns:
" The Potential RTO Transaction involves the acquisition of majority interests in, and operatorship of, four gold exploration projects in North and South Carolina in the United States located within the wider Carolina Super Terrane (formerly the 'Carolina Slate Belt'), which i) also hosts the producing Haile Gold Mine owned by OceanaGold Corporation (TSX/ASX: OGC) who acquired the Haile Gold Mine be acquiring Romarco Minerals Inc. in 2015 for C$856M; and ii) was the site of the first documented gold discovery in the USA in 1799, with North Carolina being the biggest gold producing state until discovery of the Californian gold deposits."
Highlights from the article:
"Strategically located in the Carolina Slate Belt, the Jefferson Gold Project is on the northeastern edge of two former gold mines – Brewer and Ridgeway gold mines and 15 km from OceanaGold’s producing Haile mine."
So with 2 in the North and 2 in the South, what if
Brewer and Ridgeway Gold Mines are the 2 in the SOUTH CAROLINA that the government are looking to privatise. 2 down 2 to go?
This is just me searching online, no proof or evidence that this is it.