Member Info for AM90

Think it is rare, but does happen. £30/40 million takeovers hardly get any press do difficult to search. From memory Noront resources had a premium of ~225% in the end and that was a $500 million deal.

The other way to think about it is how many recent takeovers can you find that value gold at 20/25 $ per oz in the ground - very few if any i imagine. Most are 100$ +, so would be an excellent deal for any suitor.

But anyway who knows, i would take a low ball takeover at this stage. Just desperate to know what Glenn is working on.

Glenn does respond to investor sensible queries - so that side is possible, but he is never going to go into details about the reasons behind a SP increase to a randomer! The guy who tweeted it is full of conspiracy theories and should be ignored.

Glenn is working on a deal, i think that is pretty obvious. Second guessing what type of deal is much much harder!

Glenn is a long term shareholder like many of us, he only joined the board in circa 2020 when another guy left. He wants money out of this as much as anyone and quickly - he has put 100sk into this over the years - including £100 k in the past 6/7 months, most of which at 8/9p. The idea that he is not motivated here is complete rubbish.

Difference here to many other explorer/developer companies on AIM at the moment is that a) they actually have a significant asset and b) the guy in charge has alot tot gain financially by turning this around.

It's outrageous Rayte, I cannot believe Glenn stayed silent for the 3 days you were a shareholder. I would send a strongly worded letter.

Any lth knows that Glenn wants out of this. No way is he leading a drill campaign. The silence for me is some form of deal in the making. No idea what terms it could be, but something is occuring. The idea that the company would have stayed radio silent during the gold price run because they cannot be bothered is for the fairies.

Pretty convinced multiplies are coming here from this share price low, a long way back up for lth but an absolute gift for any new investors. Can not be to long until we here something from the company.

NPV of BAM $668 million is astonishing.

CEO is highly motivated, put over 100k into the company over the past 6 months on top of the several 100s k he has already put in.

Its a mid-tier asset, mid-tier growing producers tend to buy in shares or shares + cash because they still preserve cash to develop existing assets. Its a good asset especially at 2300 gold, even 2000 gold, or 1800 gold. Gold price during the strategic review hit 1600, there was not than much spare cash lying around.

Needs some form of a deal here.

Yep, I would go with that, management have to participate in placings or nobody else would! But Glenn has put in over £100k since July including 60-70k in the open market. He clearly still has immense confidence in BAM, you don't put that amount of money in otherwise. It's more than a token amount. I don't know his salary, but it would have much less than Bills over the years.

Claude the SP destroyer, was going to put in 250k Canadian at 6.5 p, again you dont pledge to buy this much stock if you are not confident in the asset. It would have been much more than the minimum he would have gotten away with. Obviously the placing never happened because he screwed up, but the confidence in the asset was there.

The projected mining costs at BAM (2019 PEA and 2021 PEA) have basically tracked close to the average mining costs of producers as costs have increased. It's not an economically marginal deposit, but still needs work done to form up size.

It's just been repeated abysmally poor management decisions, coupled with pretty poor market conditions. They must have spent something like £5million since the last hole in BAM was drilled on salaries, TSX listing, wasted battery metal drilling etc, astonishing waste especially considering every drill campaign on BAM has been very successful.

I can't see how they can get back drilling now, would be 100% dilution even if they got the money.

Would now certainly take a heavily discounted sale.

What a dire situation.

Yes the markets are not great, but there are plenty out there raising, especially in Canada. There certainly has not been a negative change in markets since the 9th November placing announcement? POG was literally at an all time high in this period. Its not as if we were being overly optimistic with the terms ... it was 6.5p!

The asset BAM, there is nothing in there that remotely indicates that it is a shocker, in fact the opposite. While Claude clearly has well and truly screwed this up, he has been working, running, designing active mines for decades, he clearly does know his technical stuff. No way he touches this if he has any doubt about the asset. Moreover, numbers do not lie, the PEA was good ($314 million Canadian). Yes inflation will have eaten away at that since the announcement, but nothing points to this being borderline. The location is good in that Ontario is mining friendly and there is good transport.

Then there is the bizarre situation of Glenn buying in the open market at 8p a few weeks back. Why would he do this is there was ANY doubt that something like this would happen.

What on earth has happened here in the past few weeks!? There must be something

Very impressed with the new CEO so far and his credentials. For a start there is now a dedicated Landore investor relations employee, gone are the days of Bill ignoring investors.

There is a pipeline of news to come, but they are in a blackout window because of the upcoming TSX.V listing that is due very soon now (anytime from now onward really). Drilling is planned for October on BAM and if you follow the GT1 press releases it looks like they are going all guns blazing on the lithium JV, so some update on that could be due soon.

Rumor is that they have had lots of interest in the Canadian market from potential investors. Hardly surprising given the assets, 1.5 million ounces of Gold in Canada is exceptional, just needs that little bit more to prove it. Any find in the lithium JV is also not to be sniffed at..........

Indeed, likely some more money raised at the Canadian listing debut. Hopefully with some institutions rather than flippers.

The assets are excellent - particularly the gold. I don't think one needs to look much further the the competency of the former CEO and of course inflation limiting deals in the gold space.

The good news is that the new CEO has experience in both actual mining - he operated Red Lake mine just down the road from BAM in Canadian terms. He was also part of the Premiers Mines team than got taken over by equinox a couple of years ago. Real and recent experience in and around the big boys - Unlike BIll. This is a massive positive. Will be interest to see his option package when he starts next week. Just hope he actively communicates with shareholders, should start with an interview when he starts next week.

Reckon we finally will have a bounce once this seller (v. likely Hargreaves Hale/Cannacord) finishes up. One can track this on morning star. Been selling since January, probably fed up with Bills antics.

1.5 Million ounce resource in a good jurisdiction

Lithium JV with Green Technology Metals - who incidentally have started work on this (not announced by Landore - classic)

Would imagine £1.5 million cash

Further 1 million due in payments by the end of the year

Soon to be a 20% holding in Storm Exploration

Current Market cap: £10 million

No information can be gained from the AGM resolutions, they are the same as all other years.

Bill out completely, no consultancy, just out. Good news.

Good news that Bill is finally going. The last 12 months have been a shambles, failed strategic review and some wasted drilling on the 'battery metals' - those holes should have been concentrated on the main asset BAM. New dynamic CEO badly needed.

Decentish cash position as well.

All numbers at BAM look decent. Yes you can have decent numbers and not sell. Still very much believe that it will be a mine one day.

I believe majority shareholders have put pressure on Bill and it has worked. Headhunting, interviews, negotiations etc take time. Particularly given LND's inability to do anything remotely quickly. But rumour is this process is well underway.

We have a really good asset(s)
A decent but not massive cash balance in the bank (at least a couple of million)
Gold price is high...

Just needs some actual strategic direction from the company (not from Bill - the new guy) and we should move off these ridiculous lows.

Would prefer an actual geologist or project manager making the decisions on where to drill and how to develop BAM. Bill is not a geologist. I mean the decision for the recent scattergun drilling approach across the property, rather then sinking these holes into further developing BAM (the asset that will get us sold) can hardly be considered a roaring success.

But i do agree that there is an exciting period coming up. A potential new younger CEO with better shareholder communication will do wonders for sentiment. This combined with a the seeming imminent boom in junior miners should put us in an excellent position. We got to 42p in the last bull market, i see no reason why we cannot shoot past this. Serious gains to be had even without a sale.

Lets not forget, BAM is a quality deposit that will be mined - and it wont be mined by Landore.

Nice to finally have a deal done! Free carry on that 20% in decent and GT1 are going all guns blazing so would expect rapid progress if the initial drilling finds something good. Could end up being worth a decent amount.

We should now have £3 million + in the bank, which is very healthy.

Just need those heavily hinted board changes to manifest in the near future, then the sentiment really starts to shift IMO.

bit of both..... but it will happen. Its super hot property. Landore want to sell and there are multiple parties interested. Seems quite straight forward in that sense. You have to remember that Landore time is not the time we are used to. A Landore day equates to 4.3 normal days. Its scientifically proven.

We will complete the Lithium sale

Lithoquest changed their name to Storm Exploration. The Lithoquest RNS was over a year ago.

Ronaldo - one thing you cannot criticise the board for IMO is lack of 'heavy personal investment'. Both Bill and Glenn have very large holdings at averages of around 50p for Bill and 40p for Glenn. Very much skin in the game, which makes their complete absence of share price management all the more remarkable.

*granted they have been awarded some cheap options over the years.

Apologies Michu, my post was nearly a carbon copy of yours I didn't see it before typing.