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CGH hit 16p last year when the funding package was announced. The deal is so much closer to completion now since then. The latest RNS indicates it is paperwork items remaining i.e. the insurance policy and the legals - with all the relevant approvals and contracts (PowrChina etc) now in place. The comment regarding working with PowerChina to commence construction activities within a short time frame is also highly positive. Given the expected finalisation for this deal was in Q1'24 signoff would now seem to be imminent once these paperwork items are in place.
CGH hit 16p when the deal was first announced in May last year. Gold was then trading at $1,990 per oz. It has risen to $2,420 per oz since then. Tulkubash has 1m oz, thats an additional $400M this deal is now worth to Xiwang.
AISC for Tulkubash is c$1-1,100 per oz. That's $1,300 per oz PROFIT. Thats $1 billion in profit alone just for Tulkubash. Kyzyltash is 5x bigger than Tulkubash! Market cap of CGH is £29M. No wonder the CFO is saying this is undervalued and should be about 4x current price with where CGH is now. Average price target across 3 different brokers is 52p.
5p today? Lets see.
Yea struggling to see how the CGH shareprice doesn’t respond much much higher from here. This is a company making transformational deal
Company has circa $0.8M as at end March '24 plus access to $3M in working capital funding to see them through to sign off of the $150M deal
Fantastic RNS on Friday afternoon. CGH has 6.4M oz of Gold across it's two main assets; Tulkubash - 1m oz at 0.87g/t and Kyzyltash - 5.4m oz @ 3.8g/t - plus more in 'satellite deposits'.
Original financing package announced May '23 was for a $250M cash injection via equity issuance at 20p per share. for 60% of the entire company. Funding has since been revised to $150M but, importantly, is now 60% for the Tulkubash asset ONLY i.e. $150M for 1M oz at 0.87g/t. Partnership discussions on the Kyzyltash project continue implying signoff for that asset will be separate and CHG sees that as worth more than the $100M given the baseline used for the Tulkubash.
Tulkubash alone generates circa $133M a year PROFIT at current gold prices. Market cap of the company is £28M. Go figure. No wonder Xiwang is prepared to pump $150M into this for 60%.
Can someone explain if the company still has these shareholders funds from December 2023?
Cash in bank 1.69 million
Shareholders Funds 44.91 million
https://www.lse.co.uk/share-fundamentals.html?shareprice=CGH&share=Chaarat-Gold
Looking forward be a good move here,
Superb RNS. $150m is no joke and at the current Mcap should do multiples from here
Was trading at 6-7p in anticipation. Placing was at 5.25p
Crazy it’s still sub 4p. Assume that will change Monday. Maybe head towards 10p short term
Late Friday night rns. Monday it flys
Would be flying lot higher if it appeared on Top Risers board to get on people’s radar. Why isn’t it on Top Risers board?
;-)
Patience pays,)))
Or 4,50 to buy
4.50?
3.90 to buy atm
3.20 paid there.
From recent accounts,
"The convertible loan notes are due on 31 July 2024 and the Company is evaluating its options."
Does anyone know off hand the terms of conversion? I presume they will change the debt to equity, but not researched properly. Any feedback from 'informed' observers would be useful. Cheers NR
Upside imo is massive.
Anderson owns 45% so he's in full control
He paid 5p for 4m this Yr,so he needs this much higher
Market will come in on finance news personally I think the bottoms reached.
I can remember this from 12/14 years ago,when you first stated posting on leg(i think it was leg)...i didnt know chaarat was still around till a few months back.
i guess he means,funding for the 100k ounce mine,first
then the bigger 300k ounce underground mine,at a later date.
that's a big yearly tonnage that.....i think cey's only capable of 500k ounces per year,maybe a tad more
come o dave,where's that funding.lol.
Well under the radar Tro,
Big trades a couple of days ago,
Could be exponential rise here anytime soon
Finance news due,was talk of 20pps for the Chinese stake.
Let's see
And a 3 year bear trap low chart,gorgeouse chart that
2.90 looks to be the bottom...imo
well off the radar too,
6.4Moz of gold
Just need that finance deal then all guns blazing.
Could well be a great investment.
We are a mining company with a global resource inventory of 6.4Moz of gold however with a market capitalisation that, in the Board's view, does not yet reflect this and which serves to highlight the significant upside potential for investors once we secure funding to enable us to eventually move into our first phase of production at Tulkubash."
Another big buy,delayed
Looks like news then.
£25k buy,probably an insider,
Goes well with Doritos
No one just goes out and buys £50k 10% above the offer for no reason. Wonder what that's about