Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Glad to seem him go. A drain on cash resources and clearly not as capable as he made out in his CV. Delivered nothing but a mess since he joined.
Surely now the focus has to simply be get BAM proved up to 2moz and sell it off. With gold at $2k per oz, this has to be a bargain ready for someone to snap up in a fire sale.
Or that’s what I hope anyway so I can recoup something (will be at a material loss no doubt though) in my lifetime
Problem is the mkt has had a sniff that company needs funding hence sp destruction.
Https://total-market-solutions.com/2023/12/20-mining-companies-for-2024-part-ii-g-z/
I hope this is all priced in....and "medium" term we rally....if I had to place odds...I'd say 66/34 positive! so I hold but with a weak buy call???
GLA
Straw clutching shouldn't be happening here now. If they had other discussions and options ongoing they'd have said so in the RNS. Landore is at the whims of the market now, it's going to need the market to bring it up. There's nothing else they can do.
CEO has a lot of questions to answer, honestly it's wild the pitchforks aren't out yet. This guy, his marketing director and new board members are all taking a salary, while this goes to a mcap that makes the next raise likely to come in at more than 50% dilution.
I will say something constructive. They are not cash strapped, fortunately , after the disposal of the lithium claim blocks. This buys them some time. They are also constraining costs to conserve cash. It would not be accurate to suggest that they are about to go bust anytime soon.
Say something constructive buddy, this company has completely misled us we’ve messed up badly. Just wait because really it’s not long left if we don’t get our act together
@Goingtomoonufo you keep telling us its got to go to 1p. Are you short? or just a moron
Well, after a lot of thought, I have bitten the bullet and almost tripled my shareholding at a fraction of the price of my original holing to reduce my average from over 23p to under 10p. It just seems way too cheap. “Buy when there is blood on the streets” etc. Its got to recover at some point. The gold is still sitting there. They have enough cash to sit it out.
And indeed I think they will help out the juniors....especially in the M&A inc. JV space........perhaps we could get a JV (be great if we could keep 35% and a reasonable NSR for e.g. CAD $50m spent on resource expansion to e.g. 3m ozs. AU?)......or am I just clutching at straws?
Back just before they launched the strategic review last year there was a rumour that Bill and Glenn the flowerpot men had gone off to meet with Gold Road who were interested in doing a deal.
Gold Road's share price was about $1.60-$1.70 at the time.
By the end of the first phase of the 'strategic review' in late september Gold Road's share price was down by almost a third- to the $1.20's.
Their large 'low grade' open pit operation suffered inflationary costs and from the Fed's extraordinarily steep rate hikes punishing gold that summer. Not a good time for them to do deals. Or anybody. Bill's timing was drastically awful, that is a fact.
Now things are better again their 'low grade' open pit, which is a bit like ours, looks much better again and their share price has taken out the summer 2020 price when there was gold fever. Now $1.94. They're minted and equity rich.
Somebody is going to need to slap me and tell me I'm delusional please.
Maybe the raise has been called off because there is a better option coming for funding, help or whatever?
Bigger companies have got to start helping out the explorers or there is no gold mining industry left.
We are not getting any money Until this hits 1p they need to dilute the shares to get a lot of money to finish off what they need to do. If they don’t get that money, we really messed up the website is a joke. Very messy leadership has messed this company up totally. I remember back in 2021 it was amazing but what have we done
Snippets from Kitco????
"Canada's stature as the world's resource capital is declining, said Michael Gray, partner at Agentis Capital.
In mid-November, Gray spoke to Kitco at the Resourcing Tomorrow event in London, U.K.
Agentis is a financial advisory services firm serving infrastructure and mining companies.
Early-stage junior companies have been struggling. Gray said funding is a problem.
"The capital markets are broken for the juniors," said Gray, who noted that resource funds are smaller and most of the holdings are producers. Gray also noted that the enthusiasm for resource investing is falling away in Canada. The country is no longer the world leader it once was. "
but he admits....
""Any decrease in interest rates will be very [good] for gold," said Gray. "
Perhaps Claude feels we can get a great deal in the new year or so......after all our SP went South due to the capital raise RNS......and then our SP went South when we cancelled it.......that doesn't make huge sense to my brain......so I hope that good news in the first quarter of 2024....will get our SP heading north.
I am sure Claude and his contacts know exactly how to play this one and maximise for medium term!
Just my take at present......still disappointed....but we move on....hopefull!
GLA
My last post was about gold at an all time high and Landore at an all time low not making sense, but that was before the cancellation of the fund raise. Not a good look obviously. AIM market no-likey. Share price halved in a week, a new record here I think.
Loads of companies have managed to raise this week too. Google 'gold placement' and click the news button.
This is the bloke who several decades ago set up and ran the red lake mine for Rob McEwen right? Thirty years sector experience? Sorted out Eastmain which got merged into Fury? Filo-fax stuffed full of all the right contacts?
I am quite certain he has done his due diligence on the project and is way too technically capable to sign up to invest his own money and work on an OBVIOUS dud that the industry and his peers are completely rejecting, although some posters have put that idea forwards.
Claude has had a week and has said nothing about the failure which is also odd, surely? He's six months in to this and has largely just been schmoozing old friends in the industry out on the road. He then fails to raise money, his first actual hurdle and he basically just hides?
'Turbulent market conditions?'
What explanation makes all this stuff add up?
Agreed management continues to look sloppy. But Claude may get the rub of the green with these delays.
Obviously the bankers are extracting their pounds of flesh from the equity for not accepting their terrible terms, but Claude may have been right to wait till next year instead and the gold price strength shows itself which will get us far better terms just at the right time.
The economics are getting better here already. Show me another gold explorer with proven 1.5m Oz’s in shallow open pit, such low aisc’s and plenty of room to grow ALL IN a safe jurisdiction for LESS THAN £3m Market Cap!
How can we mess up this bad it come to a point we got no we’re to go. We need to be 1p before we get any money. Look at website crap really messed up
We really messed up what crap we done
We going to 1p
Bill chose his successor, within 5 months that successor has destroyed all shareholder value.
I’m being salty because I feel we should not be in this position, I do think however we will bounce from these levels as we are way oversold. Anyone who can read the last 5 months of RNSs knows we’re not in a cash crisis, we have money in the bank but just not enough to do Claude’s proposed drill campaign.
Bill owns 5% of the company Sorb. The only reason he'd do an F U to shareholders is if he never believed it'd be mined or bought.
Negativity on Landore right now should be accepted with little issue, but that accusation is downright drama writing.
They are all agreed down Madame Una's massage parlour that for all BH's faults (and he had plenty) he never once over past 17 years failed to raise the necessary funds to facilitate working capital going forward. And that was done during some pretty turbulent times in the market place. Sometimes placements even being over-subscribed to and at FAR higher levels than today's sp.
Be interesting to see how Claude's communication skills go over next couple of months. Noticed he wasn't even mentioned as a contact point in RNS yesterday.
It's a scandal this has gone from a sp of over £2 to 3p odd today. Lost count of the many £millions that have been p*****d up against the wall on corporate 'nonsense'. This year being a good example of that.
This disaster is purely down to Claude, he should come out now and apologise to holders for his complete mismanagement of the last few months in charge.
I’ve never known a person in a company talk landore down as much as he has, every interview or roadshow he mentioned we need a raise. That obviously destroyed the Shareprice for all of us, if he would have stuck to conventional routes and raised we would probably be sitting around 8p now.
This share is way oversold, look at the last RNSs, we’re not in a cash crisis, we must have north of £1.5 million in the bank. The crisis we have is all down to Claude, he must have been chosen by BIll to give the holders that ousted him a big F U.
We go dwn to 1 p or bankrupt
AM90,
I've been saying you're right for a while now but I think we have to accept on a high, varied and frankly hard to predict inflationary environment this project is no certainty. Market has told us it's not interested in it. If Claude can't get a fairly paltry £3m for a project that's already £25-30m deep and found gold the whole way the market is telling us it's not getting mined in this environment. Bottom drawer for now for those still in.
We going to 1 p we got no money they turned this company into joke