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How about... ~650M shares outstanding (think it was something like that, last time I looked), ~US$200M in the bank, end of life, cheeky little ~US$0.30 special dividend per share ;)
Current share price ~US$0.19 equivalent.
Lots can go wrong in these big projects and with global markets (lower gold), etc. but, at this price... an awful lot can go right (Extension, Douta, Lithium, future prospects, gold price could go yet higher, etc)
I assume no but there's a lot of info out there if you look for it online https://nairametrics.com/2020/10/14/fg-liberalizes-the-mining-sector-grants-5-years-tax-concession-to-miners/
ISA Essentially, yes.....I wanted to ask if MLE, or moving to u/ground, might constitute a different project and extend the tax holiday. I guess not, but you never know ; and what taxes are triggered once the holiday ends.
The $300m FCF is an effective way of highlighting a sort of worst case scenario here, albeit obviously true worst case scenario is gold crashing to $1500/oz, Nigerian militia seizing Segilola etc ha
There are very few scenarios that would leave investors, holding at today's $125m mcap valuation, out of pocket in three years time whereas the upside could comfortably be 100% ($250m mcap) and if POG really takes off, 3-4 years mle at Segilola, Douta developed, Lithium developed the upside isn't calculable even.
Yes, very detailed presentation and Q&A. All very positive.
Approx 12,000 oz of gold in circuit. Now being drawn down at a rate of 1,000 to 1,500 oz per month continuing for the rest of this year.
Segilola resource drilling. Segun put up a slide of known resource beneath the pit. The original study was when gold was at $1600 oz. Now $2,200 plus. So there is economic gold beneath the pit that can be added to the mine plan. With this year's drilling there should be further oz that can be mined in the open pit before going underground where they have some high grade intersections from the past.
Douta. PFS expected Q3. Current drilling to add oxide resource from shallow depth at both Douta and the new licence at Douta West.
LIthium. Hope to have a maiden resource published by end of this year.
Drill results from Nigeria and Senigal to come to the market this quarter and beyond as available.
Good, positive messaging though, specifically reinforcing the point that $300M FCF even if they never find another oz of gold, demonstrates the company is currently significantly undervalued. All that gold in the circuit, at these prices, is very handy.
What would have been your question? Tax calcs/burden for production during the future ops/extension period?
Disappointed the Q&A ended, just 30min into presentation, these normally only cut off at the hour mark. Never got to my qustion,m which was around the 5 year tax holiday.
I will try to read thru the full thing later, but THX have come thru 23 well, and look even better for 24. What we really need now to move the SP, imv, is a clear plan for low cost mine life extension.
There is no reason the SP couldn't double with that in place.
THX halved their net debt from $32m to $16m in a year where they only sold 73k ounces with minimal margin, in 2024 we are looking at 95k ounces at double the margin! Depending on investment activities would expect to see THX turn net cash positive around mid year.
Cash in bank fairly low due to paying off $8.2m debt in Q1 - big move in POG started in mid March so yet to see any of that hit the accounts.
Exciting year ahead now will plenty of news catalysts on various fronts and huge figures to be posted quarter by quarter.
Thor Explorations To Host Investor Webinar
Thor Explorations Ltd. (TSXV / AIM: THX) (“Thor Explorations” or the “Company”) is pleased to announce that Segun Lawson, President, and CEO, will provide a live investor session via the Investor Meet Company platform on Wednesday 1st May 2024 at 12:00pm BST.
The session will discuss the upcoming FY23 results that are expected to be announced on 29 April 2024, the recent Q1 2024 Operational Update, along with the Company’s corporate strategy.
The presentation is open to all existing and potential investors. Questions can be submitted pre-event via your Investor Meet Company dashboard up until 9:00 am the day before the meeting or at any time during the live presentation.
Investors can sign up to Investor Meet Company for free and add to meet Thor Explorations plc via:
https://www.investormeetcompany.com/thor-explorations-ltd/register-investor
Investors who already follow Thor Explorations on the Investor Meet Company platform will automatically be invited.
Whilst the Company may not be able to answer every individual question, the aim is to address the issues raised by investors
Responses to the Q&A will be published at the earliest opportunity on the Investor Meet Company platform following the presentation
Investor feedback can also be submitted directly to management after the event to ensure the Company can understand all investor views.
Might not be a biggy, but someone was clearly selling out in chunks today. Might explain why the share price is much lower than I think it should be. Perhaps this presents an opportunity...
True but that’s partly due to the chasm of difference between the two sectors. The gold environment is so strong that timescales can slip, actuals can fall slightly short but whatever happens cash isn’t going to become a constraint and strategy can go ahead as planned.
There is still a bit of mistrust of management here hence the poor valuation vs fundamentals but the margins and cash generation are simply too good to ignore.
You could be right, tho we don't know the budgeted capex on drilling etc across various projects so mb not. I am a little disappointed not to see more progress on Mine Life Extension, but am confident Segun knows what he is doing.
HarChris.....what a contrast to that other place we both post. Very happy with founder's management and delivery here, for me he's earned shareholder trust and deserves a little slack when timescales slip a tad.
"In March, over 8,200 ounces of gold was produced which included the start of the drawdown of the gold in circuit. We look forward to maintaining an increased level of production for the remainder of the year in parallel with continued drawdown of the gold in circuit.
"We are pleased to have made a significant payment of US$8.2 million towards our outstanding senior debt facility, leaving a balance of US$15 million. We remain on track to fully repay the facility this year.
Probably Debt free by end of Q3 if production at the rate in March (8,200 oz) is sustained and gold stays at these levels
Should be just about net debt free I would have thought.
Debt is now around $11.2M after the $8.2M paid off from today's announcement (going by the debt figure in Q3 2023 RNS). It could be lower if there was a payment from Q4 2023 (not seen any data to support this though - wait until the financials come in a months time). GLA, Dan
Financial quarterly results come a month after the less detailed operational updates. Standard practice at THX.
Why is there no quarterly Aisc?!?
Would be an issue if THX was trading at all time highs given the gold environment but they’re trading 30% down year on year!
Hardly, they've explained why and produced over 8000 in March. They've reiterated year end targets and stated AISC will remain in the stated range of 1100-1200. Nothing to complain about here.
The Jan/Feb issue was already known about. The important bit for me eas in March things were well up to speed and over 8000oz produced, which they expect to maintain for the rest of the year.
"In January and February 2024 the Segilola mine production was lower than expected as a result of lower recoveries from the processing plant which has been subject to implementation of final plant upgrades"
Becoming a frustrating hold.. delivery seemingly being kicked down the road yet again
I think we'll see confirmation of being net cash positive in the Q2 results, especially as cash generation in q2 will likely dwarf that of Q1.