Member Info for AM90

They are not valueing it as if they were a miner. They are valuing it as if it was an advanced explorer, which it is. But glad we can agree that it's heavily undervalued.

Some quotes:

'On a resource basis Landore is trading at US$6/oz compared to an average of US$216/oz for the smaller gold miners. We believe there is clear potential for a material rerating for the shares'

'We value Landore based on a blend of our risk-adjusted NAV for the base and expanded case scenarios for the BAM gold project, as well as an average in situ value for the project based on other gold projects in Canada and a multiple based on recent transaction values for gold M&A across Canada. We attribute a notional value to the company’s other early stage exploration holdings. This generates a valuation of GBp16.43/share. '

In relation to drilling results:

"In our view, this drilling highlights the ongoing growth potential of BAM and we view it as an incremental positive in terms of the expansion along strike and at depth. "

Well that 3.5 million shares dumped on Wednesday explained the drop. Hopefully a decent bounce for the MRE in a few weeks. They have a few 1000s meters of resampled core to add as well as the new drilling.

Bizarre day even by LND standards. Great results backed up with a nice positive interview. One large seller trashing the price - vast majority of printed trades are buys. Could be over a million shares at 3.1 at one stage. Either something going on or someone really going all out to trash the SP

Some pretty decent hits, classic BAM style plus some high grade intercepts. In the video, Alex is very very positive. Very undervalued.

https://youtu.be/990DOUyG9iU?si=XKt25h2U0IRtSp2S

They already own 90% of lamaune. This is not going to be a big number.

Exciting news coming soon according to the company on twitter:

'An update from CEO Alexander Shaw, who is attending 121 in New York this week. Exciting news coming soon, join in the conversation on our investor site at the link below. '

SamVal - I guess Mota Engil must have thought something of the deposit, they are a medium sized company with a market cap north of £1 billion - why did they invest in Landore. I also guess Rick Rule though something of the deposit, yes he has a large portfolio, but he didn't get as rich as he is for no reason, ditto for Eric Sprott. Yes they too sometimes get it wrong, but they generally win on average.

Yes past mistakes were made and they were compounded by an awful gold market! This latter point gets forgotten, even juniors with decent management got hammered.

Different world now excellent gold market and the guy in charge is decent. i think all shareholders have been impressed. Now is a time of excitement, drilling underway, already an excellent asset - NPV at $3000 gold is astronomical.

Serious gold price, serious shareholder list, serious management, serious deposit, its coming back together. I remain very bullish here for the next 12 months, will never be a straight upwards line in terms of share price, but i am betting on double figures in terms of share price at some point.

In case folk have not seen the company is hosting a webinar on Monday at 5pm with the CEO and others. You need to sign up on the investors section of the companies website, its at the top. Appears that you can ask questions in advance.

Arguably this is Eusian Bolt level speed for Landore relative to the zero progress (yet millions spent) between early 2022 and early 2025 when not a single hole was drilled in the companies main asset.

I guess they are maybe leaving the door open for another drill campaign. They have spent the last 9 months improving the structural understanding of gold formation, they appear to have made some progress on this. If they feel there are easy and possibly high grade ounces out there after the current campaign, they might want to try and bag them. But who knows.

Make sure to watch the interview with alex as well, think you can sign up for more media alerts as well directly on company website.

I have read from others that its Novum (former broker), they got binned following the appointment of Hannam and Partners. They received a large amount of warrants following both 2.4 p raises last year. They could be using the volume to dump. Of course, the truth is nobody knows.

Nice, hopefully so: 'We have also looked at the in situ valuation for BAM based on both recent Canadian transaction multiples and on the basis of other Canadian developers. Recent transactions for pre-production companies have been at an average value of US$58/oz M&I with the current in-situ value for Canadian pre-producers being US$60/oz. This suggests values of US$60m and US$62m respectively, both of which are broadly in line with our NPV based NAV and suggests a valuation of GBp12/share, implying 186% upside over the next 12 months. '

Pretty much highlights how undervalued we are vrs peers.

First half of 2025 has the potential to be excellent. Infill sampling results - drilling start + results, new MRE and PEA.

I really do not think they would taking up the potential of 3/4 gt on the website if there was not some serious substance behind it. This would be monumental if it comes off.

Incorrect regarding drilling. See BAM gold update RNS. Why drill if you can find more gold/higher grade by looking at the old un-sampled cores and an improved understanding of the geology. Could we see an increase in grade without any new drilling. That would be very interesting.

Lets see if the promised Q4 update arrives.

Very much implied... A firmer date would have been nice..You can ask yourself next Monday....

You can also ask why it has taken 3 months. You will be told it takes an awful lot of time to technical review. Far better then wasting shareholders money pointing at the ground and randomly drilling.

Clearly a let's understand all the details of the orebody approach. Targeted drilling has potential to increase the confidence, grade size of the resource.

Nice comment at the end as well

'We believe that even with much lower spot prices than where gold sits today, the value upside in BAM is highly significant.'

I reckon we have got coming:

New CEO speaks and outlines plans

New Website

Broker Notes?

Drilling starting and plans

Drilling results

more drilling

Results etc

New MRE sometime early next year

Maybe some other surprises? Sale of other properties - we have a few tasty properties in Nevada? Finally sorting out the Storm exploration issue - Miminiska is highly promising now the first nations are finally on side - Barrick gold wanted to do a JV with Landore a few years ago put couldn't get it past first nations.

Think we have got to be talking somewhere close to 15-20p by the time of MRE, that is still a few multiples from here, especially if gold price keeps at it and would be nice for Rick Rule to introduce us to a wider audience through his media channels...

Things finally looking good!

Sprott and the other yet to be named high net worth investor are going to have 30% of the company between them + the holding of LUSO and all of a sudden ~50% of the all be it diluted holdings are going to be in very sticky hands

He would have just done the placing ..... Over reaction I suspect/hope