Member Info for AM90

Our average SP close this year is 33.1p, which is pretty close to our current SP, which is artificially lower because some moron leaked the news and crashed the price.

I really cant see it being lower than 33p. An extension of the current drilling program is a massive positive and is the best route to obtaining full shareholder value, should the company be sold later this year.

But yes I really hope it is sorted by Monday morning.

Excellent statement. Some moron clearly leaked.

But think about it, why would they want to extend the current drilling program? I will tell you why, because they keep finding gold and haven't found the edges of it!

In the long run.......More drilling = more gold = more ££ for shareholders

PSB - I think you are somewhat mistaken with your calculation there.

My personal rational with Landore is that there is easy 2.5 mill oz there, use any valuation method you want, it is very difficult to not got a market cap signifficantly higher than present.

AG89 - it's 100% owned....and yep the resource I growing see my other post.

Would recommend having a read of the broker notes... Just Google align research and then search for landore... Free to read

Also cenkos research... You have to sign up.. But it's also free..

NicetoMichu - I don't know about 6 million OZ, but I would be very confident of multi million oz. You are correct that the current round of drilling is targeted to increase the resource to 1.3 million. But this is just the infil drilling, I. E. Drilling in the gaps were they already certain there is minerlization, they know its there but they just need to prove it.

But what today's RNS showed is that they have hit similar minerlization 2 km east and 1.2 km West of this deposit. This would strongly suggest that the gold extends this entire distance. In addition to this they have hit gold at a greater depth at the existing resource. None of this step out drilling is included in the targeted 1.3 million OZ resource. When you start to think that there is a reasonable chance that the current ore deposit extends a total of 3. 2 km more, you can start to see where these big multi million guesstimate come from.... O and the soil sampling also hints that this actually extends 8! Km.....yes 8 km...

So yes 6 million OZ, I don't know... But there is 100% way more than 1.3 down there...

It will be less than 8-10 weeks for the next update. It is 8-10 from receipt of the drill holes , but several have already been sent. This RNS only appears to report on 7 holes, but we know 45 have been completed and that 30 of these have been completed before Christmas.

Not a stupid question.... In short... it wont be for long...

It missed the mining boom post covid last year because there was hardly any exploration done last year because it had little money. Its now back drilling and will be back in the spotlight, a fairer market cap will be reached soon. IMO.

Step out drilling 2 km to the East and 1.2 km West both intersected Bam style minerlization, as did depth extension drilling. This is huge. The deposit is huge. This is seriously a multi million OZ deposit. Great results.

Volume is picking up and we are getting more attention. This is all we needed. Both of these will again pick up further once the drill results are announced which is literally any day now.

Apologies if these have already been posted.

ARV Patterson central review webinar : Tomorrow 10:30 am - should be very interesting for GGP holders

It will be interesting to hear what they have to say about the Apollo target which is half in GGP/NCM land following interesting soil sampling results released a couple of days ago. There was some activity spotted on near Apollo over Christmas on the satellite imagery on the GGP/NCM side, inconclusive if it was drilling, but maybe Alistair Clayton may mention it.

https://hotcopper.com.au/threads/ann-webinar-invitation-uk-and-european-investors.5896955/

There are also the Newcrest half year results late at night. To be honest these have not been that exciting in the past and I would not expect anything noteworthy, but we may get some good lines from SB regarding Havieron and Juri Juri.

Everyonesawinner - VanEck were very kind in telling us exactly how much and when they will be buying the shares. This is very transparent.

This is nice, but we already knew this. Strange that they only notify now.

When i first saw the RNS i though it would be related to the other vaneck fund which we are not in (link below), but nope, its just for the GDXJ which we already knew.

https://www.vaneck.com/vaneck-funds/mutual-fund/international-investors-gold-fund/inivx/overview/

Worth keeping an eye on the above anyway.

Yes i think you are correct Strudel. Why would you start expensive drilling on a low priority target? It really does not make much sense. I know they mention that it was difficult to get to, but maybe the real reason is that they are hoping that NCM/GGP start drilling Apollo before them.

Looking promising at Apollo which stretches into the GGP/NCM land

https://www.asx.com.au/asxpdf/20210208/pdf/44sfpgttcy2066.pdf

The RNS on the 3rd December stated assays should be available in 7-8 weeks which takes into account the lab delays. Assuming a 2 week Christmas break, this week is week 7. So results should be due very soon. Good drilling results will set this alight, particularly the step-out drilling.

No.

Check out Had 25 and a couple other on the figure. Intercepts well outside of the SW crescent, which was 'closed' not too long ago.

It is indeed as Prof/TMT/Spratt + Others say.

Current valuation = 33p
Unrisked = 66p

This assumes a 12.5 moz deposit. Essentially it is saying the company is worth 66p a share with a 12.5 Moz deposit, but because there isnt quite enough hard data to prove 12.5 Moz, they place a risk deduction on.

The risk will reduce as we prove up the resource, there may be even more than 12.5 Moz, who knows. So if at some point in the summer there is an updated MRE to say 6Moz, the risk would then reduce to say 30% and then the target price would increase. If on the basis of this update or further drilling results it looks like the eventual deposit will be larger or smaller than 12.5 moz the actual price will be amended.

The only other significant point of note is that Berenberg assume a price of gold of $1400 - make of that as you will.

Condor, the below is incorrect.

'For example, berenberg have suggested 33p a share with an MRE of 12.5m oz. You're suggesting ggp should already be valued at that with their just over 4m oz at the moment.'

They have valued GGP at 33p with a risk rating of 50%, so unrisked 66p. They have based this on the original MRE of 4. 2 Moz., so berenberg *currently* values GGP at 33p.

They expect to eventually increase to 12 Moz. As they get closer to the 12 Moz and early mining activities commence, the risk rating will be reduced at target price increased.

The MRE RNS stated that it was based on results received up to 26th October 2020, so based on drilling completed roughly end of September given the lab turn around time, if not earlier. So these results will be based on drilling from October/November, so there should be a full set of results. It is the next set that might be a little thin on the ground.