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This is starting to heat up
About time
Let's whoost :)
5.6p now on offer and its still NT to buy
Could whoost over 6p shortly
Looks to be stirring.
“…Well chosen gold miners can offer premium returns above the gold price and a more rapid appreciation than the product they sell. Investors looking for value might look beyond the mining majors to small gold miners…”
Below we pick out a 14 small cap gold miners worth watching :
#CHF #ECR #EEE #GRL #GGP #GUN #LND #LEX #OMI #PALM #POW #SRB #SHG #THX
https://total-market-solutions.com/2023/04/is-the-gold-rally-here-to-stay-14-small-cap-gold-miners-worth-watching/
I believe the news today is very positive and surprised but not surprised that activity has been poor today. With the new tax year tomorrow , the capital gains tax changes and Isa’s being refinanced watch it fly up.
Great news again from Lex…. I wonder what price physical Gold has to get to before the market takes a closer look at the junior gold miners?
Some moderate/heavy buying going on which is good to see. Hoping that the release of results from sampling at Jennings Pioneer and others is close.
Looks like someone is loading up in lots of 100k... over a million bought in the last hour or so. Long may it continue
That 19,016 buy this morning is mine :) Just wish i had more
Well well!! I had no idea my writing of earlier today was going to be as prescient!! So the Chairman has lent the company $150K, unsecured, at 5% for a year. Never mind the "Gnomes of Bangkok", they stepped up late last year with cash, now we've got none other than the Chairman, Ed Nealon, coming to the party. They are taking the cash to :
"evaluate potential additional new gold projects/opportunities both in the Carolinas and in other well-known, global gold producing jurisdictions.
· The Loan Facility serves to avoid equity dilution for existing shareholders at the current time"
Now if that doesn't sound like bridging finance to you all, then I'm a Frenchman!! This looks to me like a pretty monstrous hint that they've found a deal, either to be acquired, or to acquire something pretty soon. Rather than raise capital when they are so close to the finishing line, they're best off to borrow the money from major shareholders/management. Its a bit like sticking a billboard outside the office telling the world what's going on!!
Its also worth pointing out that Ed Nealon is the self same person who, 20 years or so ago, led the charge when Aquarius Platinum went from a $10mn junior to a $4bn market cap stock in 5 years. He was also involved with Sylvania Platinum as I recall in the early days. He is a player. If he is prepared to lend money to LEX unsecured, he must have very good reason to believe that he will get every last cent of his hard earned cash back, and a nice kicker to boot!!
Bring it on LEX!! Intriguing!! As I have been known to say to friends, "A nod's as good as a wink to a blind donkey"!
Lyddon, just read your post in a little more detail and you seem to imply that management would sell out for a pittance to the first offer that came along. Well, I am not so sure. Remember that group who were christened "The Gnomes of Bangkok" back in 2021? It seems to me that they would have a lot to say about selling on the cheap. They pretty much control the company by now with around 50% of the stock or more (who knows what they have stashed away in nominee/offshore companies?). So really, we have to say to a certain degree that we are all in their hands.
The good news is that usually junior mining stocks that have a strong owning group and management who have a good sized stake in the business, and it looks like LEX has both, are usually the winners as they take a long term view towards developing an asset!! I certainly take heart from that and hark back to the CEOs comments last year that offers are coming to them from inside and outside the USA which could be worth looking at.
I reckon its all to play for and now the stock has dipped below 5p/share, I would be looking to pick some up. We also have the Jennings Pioneer and Argo soil test results due quite soon as well. Maybe we'll also get an idea as to what they 2023 drilling program may look like....and which undrilled anomalies around JKL that they'll be poking drillbits into. Oh! Yes! And Lyddon, well done for picking a few up. I am sure you will be richly rewarded as am I going to be!!
You may be correct Genius, good volume today with no planned news on the calendar, I mentioned a little while ago that a bigger player close by may want to aquire us for chicken feed….. who knows?!!
Pretty solid support around this 5p zone. Expecting to see this come to life soon
Interesting post Ippy. One of the most intriguing things about it is the fact that the cut off grade with the Pancon resource at Sawyer is 0.4g/ton. Our most recent one at Jones Keystone is 0.5g/ton. Their deposit is close to surface, so is ours. I reckon that changing the cut off grade is an ace in the hole for management further down the line. At $1800 bucks an oz, its got to be worth mining down to that grade. Just given what we have now, I am pretty sure, though I am not a geologist, is would seem quite within the bounds of possibility that this alone would raise our reserves from 210K oz to 240-250K.
Just seen Pancon (TSXV:PUC), who are exploring the previous Brewer mine and have hit multiple 100gram metre intervals, have just acquired two more contiguous licenses in Carolina. One is a previous mine whilst the other is what they believe to be a downtrend prospect of the previous mine. Both have prev. shallow intercepts similar to ourselves so they'll be trying to prove up a larger res over the coming months/years. Fittingly, they're changing their name to Caroline Rush Corporation!
Lots more activity in the Carolinas which will only bring more attention to our projects.
Well I am just parroting what CEO Bernard said a few months ago. Crucially, the announcement also said that the opportunities were not just in the USA, they were international/global as well. Some of the directors have been on the precious metals/resources patch for many years now and must have excellent rolodexes which I am sure that they are not too old to use.... Let's see how things pan out, but I have to say that the share price has been behaving very well the last few days....
If one looks at the last RNS I do believe almost a 1000 samples were sent off to the labs, results expected back Q1 2023.
That's my understanding of it anyway.
There is no drilling or JORC news due so what else? Rosie thinks deals elsewhere may be on the cards but what about a bid from one of the bigger fish near us who have publicly stated that they are on the lookout for aquisitions?
I'd agree someone didn't want to wait any longer and cleared all the stock out under 5.5p. 10k shares all that left
The buyer sitting on the bid for the last month or so passively picking up stock may have just changed strategy and is becoming more aggressive as time is short for incoming news?????
Some serious volume today!!
Just took a look at the chart over the past year and observe the following. 1) upward move of just short of 5p since mid 22 lows. 2) Since November highs, consolidating nicely. 3) Large descending wedge formation building up. 4. Breakout is due quite soon. 5) Excellent support from 5 to 4.75. 6. Upside breakout objective 9.5 to 9.75.
I still keep harking back to the CEO statement last year that LEX is being approached in an unsolicited manner by others to do things with them. It also seems that someone is accumulating stock, there has been good steady volume over the last few weeks, and the price has absorbed some serious liquidations with ease. I'm tempted to think something's cooking. Fingers crossed......
all seems to be progressing smoothly.
New note out from WHI today. Target still 11p/share based on what we have now, 210K oz, but they state outright that they expect us to increase this number and therefore the valuation will go up. Good to see they are still on the case and providing support.