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End of year, comes and goes. Early new year, comes and goes. Next week, comes and goes. 1st quarter, comes and goes...................
Clearly ‘imminent’ has a very different meaning in South Korea…
The shares you mentioned were issued at 3.6p per share price. I doubt they would sell at such a loss, unless Southern Gold is desperate for the cash, in which case someone will get a bargain.
Really need the TMUP issued soon. Especially after that interview and someone selling 5m shares today at 1.65p. Not a good look.
Also, Southern Golds 150M shares come out of Escrow very soon.
Probably just MM’s trying to balance the books, only a tiny drop and irrelevant in the long term.
of buys and less than £2k of sells yet the SP is down 1.28%. How does that work.....
One more day for the TMUP to be issued "this week".....
ID78 - I said that I don't want to speculate about the sp, I have no idea.
But why the sp 3 years ago was 4p for a relatively long period, even though the project was less advanced then it's now?
I guess, simply because of the expectation to progress the project towards production. It did not happen so the sp declined and negativity remains.
If the permit is granted, all the project metrics are better than 3 years ago.
Not saying the sp will go 4p but it should change current negativity as real work will finally start on site and the sp might respond positively. Any positive news flow re construction or Batangas project will be welcome too.
There are many miners/explores with far higher valuation which are much further away from production than BMV.
User2007 - just yes, a cracking opportunity here… BUT
First gold from proof of concept (at best) is in December
Then - funding (next year)
Then investment in the line to production (next year or the year after?)
So… a fantastic opportunity but why would the SP drastically change now?
Is this week finally the time the Co and its shareholders have been waiting for for 3 years?
The money is ready to be deployed, all systems go once we get the final nod by getting the TMUP.
It's amazing that the sp is still under 2p. The sp was on average 4p from April 2020 to April 2021 with the PoG average 1850 (give or take).
What is different now?
- PoG is higher and looks it should not slide below 1850
- We have funds to execute the Proof of Concept
- No or very little share dilution in real terms (we roughly doubled number of shares but also doubled resources now owning 100%, before we shared it with SAU)
- Still committed BoD and insiders (7 of them participating on funding to keep lights on earlier this year, owning around 25% of shares
Clearly, 2 years of Covid with very strict S.Korea policy and the JV debacle taking over a year to sort out dented the sp,
however, the co is in much better position than it was when the sp was 4p.
There is no point to speculate where the sp should/will be but I like Monemaker's scenario just divi being worth 3.5p :)
Imagine what would be the sp in such case ... :)
Ok, let's get back to reality, wait for the news we expect and start the PoC.
Great opportunity, good luck all.
Could be a good week for shareholders here with news due....
Further couple of shorts closed this morning
Totally agree. TMUP due next week. Gold price rising and looks that way going forward. They are fully funded to proof of concept and with the Management having proper skin in the game here I would like to think this stock could be 3p short term. Of course DYOR but like this one a lot.
Three shorts closing this morning - probably one short in three chunks... Good news. Anyone with Ortex got shorting data for BMV they wouldn't mind sharing?
It’s the gold price I’m keeping my eye on in particular. For example, it’s just risen to $1,923/oz. Which is $173/oz higher than that used in the scoping study. Based on the medium term target of circa 60Koz Au per annum, that slight increase in gold price means an additional free cash flow per annum of $10.38m. That is all profit!
Plus, if you look at gold price forecasts, by the time BMV is looking to achieve the circa 60Koz Au per annum, many forecasts have the gold price above $2,200/oz, which equates to an additional $27m above the scoping study. Now, if that ‘additional’ was to all be used as a dividend, it would equate to near 3.5p. That 3.5p doesn’t take into account any dividend they would be looking to pay from the ‘$50m free cash’ either.
Obviously, we can’t guarantee they would use any surplus cash as a dividend, but it demonstrates how small increases in gold prices impact on the projects financials.
Looking Good,
I put a few quid in here over last week.
Good luck All
Well, when they announced in late 2022 that permits to be granted in early 2023, being a bit pessimistic, I thought hopefully by end of Q1. When they mentioned it a few weeks ago that it's imminent, I thought maybe my Q1 expectation might be correct. So to me, this week, next week or the following week - any of those is ok.
Originally, I expected announcing permits first and then the funding, however, doing it in the revered order suggests that they are very confident.
In the meantime gold is doing fine so, the project numbers (despite inflation) are getting better.
Great opportunity ...
Very positive interview and Colin is clearly excited now the company is funded for trial production.
It sounds like it was recorded late last week after the placing so hopefully we'll get the permit news very shortly and the company can start gearing up for production
If the permit lands next week it wouldn’t surprise me if we see a number of new investors come on board after in April to fill their ISA allowances.
I'd be very interested to know when that interview was recorded; when Colin speaks about the Scoping Study RNS he says it was "last week" and then corrects himself to "this week" which says to me the interview was recorded late last week (ie around 10th March). If that's the case, the "expecting TMUPs next week" comment *could* mean this week...
Guess we'll find out soon! Either way, good to get those in the bag ASAP. Taken long enough - I'll be very happy when I know they're getting on with serious on site prep for proof of concept.
Surely this time. Sounds like actual progress on the ground about to happen. Fingers crossed.
https://www.youtube.com/watch?v=HWVNR2eVhcQ
Mountain permit next week says Colin
Ahh ok, thanks pwlx
Believe they already have the mining license (extraction permit) valid for 13 years from 2020 (and extendable based on LoM)
I’ll change that
- mountain permit
- proof of concept
- funding
- mining licence
- mine development / commissioning -
- production