Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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2 crumbs of comfort for me:-
1) They had every justification at certain points when they could have folded due to lack of working capital. But they didn't.
2) They (Prickett & Humphries) must be as keen as anyone to see an end game materialise. Especially BH who has invested a considerable sum of money here. Have no idea exactly how much but it must be well over £10 million by now. Probably nearer the £20 million mark.
Fully agree with that mads.
You have more or less stated my feelings regarding Sareum
Dirk
I'm only bullish about an end game coming soon. If it doesn't then I might consider slashing my wrists.
I've only been negative on this Co because of the way it has been run. Like a private company. Like a old fashioned Members Club for the chosen few. Being listed on AIM was only a means to an end for fundraising purposes.
Forgetting about the p*ss poor share price performance over most of the past 15 years.......... if I'd known they were going to behave the way they have (especially during the Prickett reign as CEO) I would never have invested. Trouble was I was always sitting on a paper loss even when I averaged down. And thought things could only get better. How wrong I was.
Hopefully it's pay-back time. Soon.
The alternative doesn't bear thinking about!!!
Ok. Yr more positive than me so I'll take that as a bullish sign.
Dirk
My impression is BH is 'old school' and has quite a few Premier League connections on a personal level gained over so many years. Especially when he was with PGD when one (Barrick) effectively bailed him out, without favour.
We surely are about to hear what's going on soon. It'd be difficult for them to publish an AR without doing so. And that is due any day/week now.
Drusus,
Great stuff.
Mads,
I reckon our frustration is about to end. Watching this space and with you all the way.
All,
Who is in the frame then? My money is on Barrick.
Cheers
I just think I have a psychological disability holding this share. (Can't use the R word anymore). We all shouldve binned it years ago.
That said someone is buying last few weeks....but...someone is feeding the buys so the price ain't moving much.
Hope we near the 'end game' cos I'm pretty sick of it. I know mads post tongue in cheek but it's fairly accurate. Nobody gets a reply. Another big ffs. I hope they a bit more dynamic speaking to any potential buyers.
You are correct Urban
Mads,
I am pretty sure you have mis-read his post pal. I read it as that he is agreeing with me in that time is not on our side and the last thing we want now is a sole venture by LND for all the obvious reasons. Have a check Mads but pretty sure that is the case.
Cheers pal..UR
As Dirk rightly says "FFS".
As Drusus wrongly says "yes you are 100 % right about going it alone".
You have an 80 year old CEO living in some care home in Italy. An elderly temp FD just brought on board a couple of months back to work with the assistance of the retired FD. And a young lady on gardening leave at base in Canada.
FFS indeed - is this really the makeup of a Company here for the long haul???????
Sorry for the cynical (& largely deliberately exaggerated) comments. Exaggerated only to make my point!!!
End game coming soon imho. Watch this space.
Like a therapist and a patient you mean?
Drusus,
No I am with you one hundred percent on that.
As Dirkus has just so succinctly put it...the dearth of news is, er, frustrating.
Btw though perhaps there is a new show in town now;
The Dirkus and Drusus Dialogues!
Love it!
UR
Sick of orbiting round a black hole....15 years of buying in....averaging down...selling out....buying back in....averaging down again.....gold up...market going mental all around us. Come on ffs.
Looks like something going on. Just need some update from the company ....doing my threepenny bits in their news void attitude.
Hi Urban,
yes you are 100 % right about going it alone,there is one small advantage though they have a MRE already something we do
not have at GGP yet,although we all know its a monster at Haveiron.Its possible LND may just punt this around for sale for the next year or so hence the 260k placement.
Just seems to have a bit of an endgame feeling about it.
Hi Drusus,
I understand fully your thought process as it pretty much mirrors what I had wanted until relatively recently. The problem here, I think, is time.
Forgive me if you know most of this.
LND at Junior Lake was predominantly a nickel concern with other stuff such as Lithium thrown in. They did have some gold but that was really a side show to the main resource. Then they discovered BAM (as it is now) in 2016 and, fair to say, have progressed it quickly to the current circa 1 mn gold resource. ‘Quickly’ that is, in mining terms.
Last year they continued geo work hand in glove with infill at BAM In which soil sampling out west towards Lamaune (where there are 40-50,000 ounces au also) provided extremely positive results which led to plans to drill anomaly’s identified. The problem is this. If they continue to go it alone, and if results are as hoped for, it could take 8 years to progress to the resource figures you allude to. (3mn)
I could argue that Ggp is a different proposition to Ggp. GH and CB are young and different in many ways to Bill Humphries and his team. This is not being critical btw. However, it is clear that there are similarities in the desire to prove up and bring partners on board such as NCM at Havieron. Lnd had been in talks with Barrick Gold in 2018 however I am only aware of that because of a problem that arose over licensing involving local indigenous peoples. I have no idea wether there is still any interest from Barrick but what is clear is that two years have passed and there is still no clear picture of where LND are although we, as long term holders, are keeping our fingers crossed that there are still negotiations ongoing, and that whatever threshold is required to pass go is getting nearer or, indeed, has been reached.
We are hoping for a sale as many PI’s (not me) are hoping for with Ggp and NCM. If not, then farm in or JV would be preferable to the go-it alone scenario.
I do agree, however, that something does seem to be happening. The question, is what.
Cheers
UR
I am a current longterm holder on GGP and have been having a look at this company.To my mind it needs to expand the MRE to around 3 million oz to stir some interest.Potentially a couple of billion profit to a miner,and an SP of 55-60p a share providing its a straight sale not a farm in.On the same scale as GGP maximum price would be 21p for a 70% farm in.But still worth a longer look I think.Price seems to me moving in the right direction so somethings happening.
With LND's other project (nickel) BH used to tell us how much CAPEX was expected to be required for the plant and how much the estimated costs were in terms of operation + refining + transportation + smelting in terms of $ per tonne....... so that it was pretty clear what the profit margin was.
I suppose there's a good reason why we don't have that for LND's other major project (ie BAM). Just that I don't know what it is. Would make it a damn sight easier to follow as a layman or PI.
Sorry Drusus - think I might have confused you with another poster.
Perhaps Dirk.
My understanding is the cost to build a mine like the one required for BAM would be circa £150m (maybe more, maybe less) and that alone would have a major hit on the expense & bottom line of any project.
It surely doesn't matter if LND hold a licence, lease or freehold.......... as long as they (or anyone else) can build a mine on the land????
I appreciate 100% that gold in the ground has arguably little value until it gets dug out the ground & sold. And PoG is very much a moving feast. What 30-40% swing in fairly recent times?
Like I mentioned before BH used to quote 'all in costs' when with PGD of circa $600-$700 per oz. Although I again realise comparing one gold project to another has its flaws. And that was in the days when PoG was barely over $1,100 mind.
I have run my own company in the past - but am happy to admit I know little of the exploration world. And always happy to be put right. Or proven wrong.
Madsktpan I think you may be getting confused between the mining value of gold,and the junior miners discovering gold(Landore) and selling the mining licence to say someone like RTZ. The price of gold in the ground is $200-300 dollars an ounce hence the valuation of 2-300 million dollars for a million ounces of gold. Miners average around 30% profit of mining gold I think ,so your $1700 an ounce is only worth about $500-600 an ounce. So the mine has a maximum value of around 5-600 million dollars.
.......whatever.......... but what he says just doesn't make any sense.
3 - 4 million ozs at $1,700 per oz = Gross value of over $5 BILLION.
That's a FACT.
maybe KRSS is trying to talk the price down while loading up on the side :-)
Did a dummy sell with 1/2 million... They'll take them no sweat. Must be after stock.