Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video 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.
Gavster... points of fact-
The area effected by the peat landslides is in one of the Galantas/Omagh minerals licenced prospecting area 'OM4/19'? YES or YES (clue the answer is 'YES')
This area is exactly 21 miles away from the Cavanacaw Galantas mine, not 10 as you state.
Irrelevant to the Galantas share price, investors, JORC or current business plan...? really... then why were their geologists sampling in the area recently, and why did they go to the expense and effort of securing a prospecting licence in 2019? Perhaps it is 'irrelevant', some would call it downright foolish and irresponsible for a mining company to keep all its 'eggs in one basket', and not have parallel exploration going on a lot earlier.. These areas should have been explored and aquired back in 2010, GAL would be in a much better state than they are in today I can state confidently- instead of flogging the dead horse of Cavanacaw. Lets face it, the good days are gone at Cavanacaw, the low hanging fruit are but distant memories, and so in fact are the fruit trees.
Also "Even if mining took place some long time in the future, it would probably be well below any rivers or ground that could cause landslides" - Are you even aware of the Galantas Cavanacaw site? Do yo work there or something? Its on hilltop, on a peat bog... there is a 'peat stockpile' that they had to remove to get at the Kearney vein!..... Surrounded by peat bog, the source of a tributary stream that feeds the main river that passes through Omagh....
Happy ramping! but no thanks
10 Miles away from the mining and the gold. Irrelevant to the Galantas, share price, investors, JORC or current business plan. Even if mining took place some long time in the future, it would probably be well below any rivers or ground that could cause landslides.
Recent events?
These peat landslides and subsequent pollution are in the OM4/19 prospecting zone held by Omagh Minerals (Galantas).... It seems the public and the various environment agencies are keeping a very tight eye on the region, on both sides of the border.
https://www.bbc.co.uk/news/uk-northern-ireland-foyle-west-54994865
mmm.... really not so sure on your logic.. need to see some positives from the recent efforts, but seemingly the 'field' has changed a lot in recent days and this may have an impact on the exploration area
Good news certainly.
More than doubled my holding this morning, topping up to just over 0.1% of the company.
Was hoping for no rns (made my decision to buy more before seeing todays news), so happy to see 16.6p avaliable on open.
Aim to further dilate my holding around these levels if they last (or lower) and hope GAL get back to black returns very soon.
Don't be selling up now, imo. Significant findings are just ahead and a significantly more receptive audience awaits.
So much work/money/time/effort expended to get here, I say hang on to as much as possible just a little longer. Visibility of path to 20-30k oz/a once covid restrictions eased 4 shift workforce at it and numbers put to a few promising leads (already permitted too) and gold at >2300usd and 750k to 1m in ground? (~25% increase).
Then see what the offers are - I think <12 months.
Explo license is vast.
AIMO GLA
This increase in man hours roughly means producing gold at a rate of 2000 ounces a year, or in value terms is over 3.5m US$. This combined with an updated JORC, is good progress and the money to even turn that JORC into a BFS.
Not bad for a current market cap £6m. Share price could easily double when this beds in.
Next step after could be a BFS, which would most certainly send a rocket up the SP and an large increase in Market Cap.
This is decent news. If they are serious about getting proper value in a takeover. An updated NI 43-101 is essential. They are again pulling in revenue, spending it properly on a certified resource, and have a billion dollars worth of gold in the ground.
any idea what's going on?
Averaging up slightly.
GLA
Dead end share !!!!
All is fine in Galantas world. I can get a buy quote for 20.02p.
They are cleaning their pile of rocks, which should please the "Happy duckers", and so far made around a million doing so since May.
I have two "Anti-Galantas at all times until there is green fields again, never mind the loss of jobs and hit to the fragile local economy" posters on filter here so I can't read many posts on this board.
Is trading on GAL down? Anything to do with the announcement yesterday?
Life in the old dog yet then.
With the highest ever gold prices, this will keep the company afloat and any fire sale at bay. With the current tide flowing with mining, it's not off the cards for someone to offer a proper price. The 'happy ducks brigade' would do well to support a small company like Galantas rather than let the big boys steam roller in.
The over half a million of ounces of Galantas gold in the ground here is worth A BILLION US$ !
Current market cap is £7m.
LOL Guys! I'm not to worried now, as I've bailed out of GAL, and although it's a loss for me, I sense it's not as bad as it's going to be once normality begins to bite.
I believe the gold price is inflated mainly down to the COVID hysteria, and it's being propped up with panic from the central banks... once things begin to revert to semi normal the demand for gold will decrease and the price will fall as quickly as it climbed. With a fall in the price, inevitibly GAL will struggle to keep afloat. I've lost confidence in the company anyway, and I think even if the gold price stabilised now, they'd still find it hard to get back. Long and short is.... they lost their mine manager during COVID, they're going to have to pay for the police escort duties in future, and the bad vibes in the neighbourhood down to DAL are going to make this even more of a challenge.
I may be wrong... but whatever. I'll not worry about it now.
Shhhh! Famous last words... Could just be getting away with it , so keep quiet FFS!
Gold is now above £1500 per ounce.
Even if GAL is still running low gears, the sight of moving up into second will signal the next step upwards in share price, lowering the risk. The trades indicate there is something happening in that direction.
Thanks MMGames. Fresnillo looking good also, the herd could certainly pile in again. as they did the last recession gold/silver spike.
I note that despite silver being undervalued regards keeping up with gold over 10-20 years, the price has kept in touch with gold for the last 5 years.
There's other posts on here but fortunately the filter is doing its job,
"This message has been filtered, please adjust your filters to view"
Gavster forget evraz goto fresnillo - zak mir share talk youtube. Fresnillo.- £11 now soon £19. Rebuy after crash again, silver rocket - fresnillo rockets too
Looks like somebody else thinks so too - you don't buy that many in a day unless you know something........
Gavster,
My average is a bit better on Evraz - in the 240's. It will recover and very strong. The Iron Ore prices are doing very well and production levels are good so I see them easily beating last year earnings. Coke will be down but who cares about that.
On Gal - discussions are ongoing and fingers crossed. The MM's will take shares and I believe they are holding a few so the only way they make money is if the SP rises.
Hi TotalTrader
Using the filter is better though a shame the green message come up, however it's possible to have a normal discussion.
Evraz has been a pig for me in this crisis as my average is just over 400p. I'm re-investing dividend there so at some point in the coming years, I should be in healthy profit given commodity prices.
You are right. The happy ducks and fields brigade are fighting a losing battle. If Galantas doesn't get the gold out, someone else will, especially when we're nearly at $1900 GP and much more to come, the profits and local employment prospects are too good to miss out on, whether a larger vulture takes over or our small company GAL manages to continue.
Getting the mine running back at normal levels is currently step one. We wait.
Hi Gavster - hope you are well - I see we share at least one other investment in Evraz.
Indeed this is high risk and it is at a point whereby it either mines or gets mothballed for a number of years. Every month that the world remains in turmoil with continents bickering away is another month of high gold prices and that is one step closer to a company stepping in to help - and trust me the conversations are taking place. Personally, I think RP is a good mining engineer and problem solver but he vastly underestimated the funds to get into full production - with this he needs help or he needs to take a back seat.
In terms of cleaning up the mine. Unless things have changed since I slept, mines get cleaned up at the end of their life and not whilst they are still mining !! A proportion of the profit is set aside on the balance sheet for restoration and dilapidations. If some people think this mine is a mess, wow, they really need to get out and view some other mines. And of course you are quite correct - no mining = no profits = no restoration - perhaps this is something that the local anti-mining brigade on this board should think about - alas more wishful thinking but at least there are filters !!
Hi Totaltrader.
I know. It's impossible to have a normal discussion.
Personally I do not even read their agenda posts and recommend anyone else to ignore these two posters. I will report anything that might even remotely be offensive or attempting condescending until a normal board returns.
Essentially the gold price is going up and up, making it easier and easier for GAL to pay debt and move forward.
A tipping point can be seen on the horizon which will make the share price explode upwards making this a great addition to a portfolio but high risk. As ever this year the question remains as to whether Mr Phelps can steer this old ship.
On the point about when the site will be cleared up, then I'm pretty sure this is in plans as pledged and agreed, as it always was, as long as the funds exist to do this. Essentially, no gold means no funds to clear the site, which must only be done after the mining has completed. I have no doubt that one day, the site will look as country as the old mining sites in Cornwall.