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Sprott still in. Claude can see it and has a ridiculous track record/CV. He's close to Rob McEwen and goes way back with him (see link below). Imagine the doors he can open with these kinds of contacts.
These people are not mugs. They are proper, deep in the industry, well connected experts. Gold is rising again.
But you can't give shares away to AIM punters at 9.5p. They know better than to buy in here. Apparently.
Make it make sense.
https://www.mining.com/rob-mcewen-looking-ahead-of-the-curve/
New ceo. Well respected in Canada. New Toronto listing imminent. New investors from Canada expected. Now would be a strange time to sell imho
499,656 shares sold in the last week, 63 bought. Share price dropping 5% every day but then again, 5% of nothing still equals nothing. Thoughts, time to bail on this? Can it really get any worse?
Amazingly I bought some this morning.. Only did it because it feels like some decent buying momentum could be starting ....Hopefully that doesn't peter out and / or get punchily sold into.. (a mug and handle .. instead of a cup and handle so to speak :-))
"Something really big coming before EGM", really shujjah?
Beautiful cup and handle being formed on the chart I'm not sure if anybody's noted
Something really big coming before EGM .
Fancy being able to attend the EGM electronically!
The new guy is defo marking his stall out. It's a totally new approach. He's getting stuff done pronto.
On the move already...
Some fair chunks bought this afternoon, anyone would think something may be on the way...
Some good posts on this thread and I agree new CEO came across honest and like a man who knew what to do with the business. Hopefully he can untangle some of the mess Bill and his cronies created!
You can't deny there are some solid assets here but I think there was certainly a huge element of mgnt incompetence baked into that and as a result, a view from the market that so much of what LND have would never come to fruition.
What I hope now, is that the new CEO can inject some funds into the business (via non core asset sales) to set a base line valuation on the company from the balance sheet alone and remove some of this speculation. This would then focus the market on a true value for BAM - which at the moment sits at ~$9/oz in the ground.
What did strike me is why would a man come "out of retirement" to take on this role? Surely he has no plans to sign himself up to a 20 year project....he must have some short term plans. I would also hope he has some solid connections.
Think the dizzy dreams of multi bags from previous levels are gone but I hope with a solid plan and some good mgnt (plus a strong gold price). There is hope of recouping something here from a hefty outlay!
Below placing price.
Nice resource in a top class jurisdiction.
Hi Samval, good to hear from you too.. and yours is a high quality post imho.
Great if this gets back to 40 m gbp market.. anything is possible.. but I'd have long before halved again my bet here.
Alas, across the Worlds exchanges and privately held alongside, there are A LOT of decent/good small cap gold exploration plays.... not to mind sundry other metals plays too ... and a very small percent of their total number get to become live mines, ever.
Generally, we need a bunch of deals from mid/large caps with such small caps... AND on decent terms to those small cap explorers - it's massively a buyers market too, alas - to restore Investor and or speculator interest in this space imho.
Alongside, we also need our new guy to do a lot of things well too.. especially including future BAM drilling staying as progressive as previous drilling has been.
I live in hope much more than expectation here now.... so here's hoping.
(and this is a low(ish) priority play in my p/f now.. especially including the value of my bet having been meullered here to the extent of looking to trade my way out of a hole here not even feeling like it might be worth trying anymore.. but that could change sometime/how, perhaps..)
Nice to hear from you Michu. I was lucky enough too to take half of my investment off the table here at 18p, and I'm not sure I'll ever get back to the number of shares I had then. Regardless I still want to be here to hear the story. 30p raise in 2021 and at BAM they really only improved the standing since then.
It's hard to look past the fact the mcap here is c£10m and they've spent (from the top of my head) on BAM alone drilling mainly successfully c£25m. There is an asset there and while I'm not under any illusions it definitely does get taken to production there is enough already there to hear more of the story. Maybe the SP here is the management quality showing, maybe it's because the resource lacks certainty for whether a developer will want to take this into production based on now and potential.
I'm not of the same opinion of this I was 18 months back but also since then the SP has dropped 60% and it's a different opportunity. I still think if right now LND traded at £40m mcap you'd say fair enough. They've got a NPV of probably 20x+ the SP right now at just at BAM, and a new man up top that wants to achieve the potential of the flagship asset and to focus only on that.
The percentage/ smart play is probably to wait to invest, at least until Claude announces the strategy. For me he hit the right notes in the interview, I took some more in advance and I'm happy with it.
on first impressions this guy feels solid/good to me.
i respect he didn't ***** foot around the fact that the journey from here forward could potentially be plenty more years ... (to get to a successful bam sale event here, as i agree we won't take this into production but have to go through many of the steps.. some already done.. more to come.... etc..... )
saddening to me as my involvement here as been, at least that penny kinda dropped for me a fair while back here.. hopefully it's dropping for others here too.. because the amount of dreaminess i've read posted here over years now been epically large.
generally, i and all medium/long term posters have paid a big financial price for our dreaminess.. but my own naivety has lessened a lot through the previous journey here, at least.. some others too maybe... others again i'm not clear it has, yet..
He has to say they will take it to production, and demonstrate a plan, progress and willingness to do so, to get the best price imo.
Agreed CTW, good start and he seems to be going the way many here wanted focussing on BAM. Let's hope that he gets some of these non-core assets spun off all sold relatively quickly to reduce the burden on the fundraise.
I'm not sure I believe him when he says that we will be producer here, but maybe it's not the worst thing to have that in mind. NPV could be somewhere near 300 million right now without growing BAM.
All in all our future value as UK and current holders of this company is going to be quite drastically affected by how Claude manages to present us to the Canadians. A good story there and maybe growing BAM to something sellable or mineable won't take all that long. Landore has always succeeded with the drill bit at BAM, long may that continue.
Great interview out this morning on total market solutions.
VIDEO INTERVIEW (link below)
“…The BAM gold project is the focus for Landore Resources’ new CEO and selling non core assets is key…”
https://total-market-solutions.com/2023/07/landore-resources-ltd-july-2023/
It is difficult to be positive when one is so far under water however in terms of fundamentals we appear to be turning a corner.
1. The new CEO looks the part both in terms of corporate experience at the level required and in terms of technical savvy required to ensure that we are on the right pathway. If he is willing to communicate with PI's too then he'll be a huge asset here.
2. Glenn spent £20k on shares. OK so he got them for a steal but putting in money is the right sign that he's a believer (not that he's betting the ranch exactly).
3. The Canadian listing. Sentiment for Aim holders had clearly reached a nadir. Aim is perhaps part of that problem too. Many continue to hold with the belief that the asset is good. This share needs new holders if the price action is to head northwards. This wont come from Aim in the short term where the holders are some combination of apoplectic, depressed and despondent as they come to terms with the series of broken dreams sold to them by the management. Any new Canadian investors who are not impacted by this malaise will be getting an absolute bargain as a result 1.5Moz / 850koz (on pit shell so far) is a steal at £10m. A very low gold in ground value of $39 per oz values our pit shell alone at $33,150,000 US or £26m. Many would value gold in ground near $65 / oz or more. Others prefer a value based on a % of Nav. Nonetheless whichever valuation approach you might favour we are significantly undervalued. This should not be a difficult sell to a Canadian investor who has any knowledge of junior mining. Particularly if we have a leadership in whom investors can have confidence. If the pit shell model can be built up to nearer to the resource indicated and inferred level our value should be a market cap of £46m pre mine (1.5moz x $39 US) as we are i.e. North of 45p. A junior miner holder in Canada would have to have rocks in their head not to want a few of these shares tucked away. I will be looking for new Canadian holders to restore sentiment and momentum here.
GLA DYOR
Phoenix - Whether you believe what the Co. say or not is a different thing but it has been communicated by the Co. that 2moz is where the resource needs to be to have interest in buying it. (Not sure why it took 2 strategic reviews to fathom that though)
Hopefully if gold stays $1900+ this is a nice asset for someone. Remember, a $12m mcap values 1.5moz of gold at $8/oz in the ground.....that's nuts!
Indeed, likely some more money raised at the Canadian listing debut. Hopefully with some institutions rather than flippers.
The assets are excellent - particularly the gold. I don't think one needs to look much further the the competency of the former CEO and of course inflation limiting deals in the gold space.
The good news is that the new CEO has experience in both actual mining - he operated Red Lake mine just down the road from BAM in Canadian terms. He was also part of the Premiers Mines team than got taken over by equinox a couple of years ago. Real and recent experience in and around the big boys - Unlike BIll. This is a massive positive. Will be interest to see his option package when he starts next week. Just hope he actively communicates with shareholders, should start with an interview when he starts next week.
Reckon we finally will have a bounce once this seller (v. likely Hargreaves Hale/Cannacord) finishes up. One can track this on morning star. Been selling since January, probably fed up with Bills antics.
1.5 Million ounce resource in a good jurisdiction
Lithium JV with Green Technology Metals - who incidentally have started work on this (not announced by Landore - classic)
Would imagine £1.5 million cash
Further 1 million due in payments by the end of the year
Soon to be a 20% holding in Storm Exploration
Current Market cap: £10 million
Risk of placing gone? Only for short while!
Excellent assets? Then why no one grabbed it?
Topped up today morning? Tell that to the telegram group cheerleaders. The fact that it’s gone from 40p to 9p is for a reason. Failed numerous times.
I believe the RNS mentione the new CEO keeping in contact with investors....That'll be novel :-)