Member Info for AM90

Aware of that, been following for a while. They have sold at least 4 million based on real data (cannot be more concrete than an audited annual report) , no innuendo. There has been no TR1, make of that as you will.

No plans of selling a single share. No better value AIM minning stock out there.

Micro sold 250k in June https://www.morningstar.com/stocks/xlon/lnd/ownership

Micro sold down to 9.5 million shares (I. E. another 1.25 million in July) click reports and accounts on this link.. https://www.marlboroughfunds.com/fund-details/Marlborough%20UK%20Micro-Cap%20Growth%20A%20Acc/

Nano completely sold out in July (2.6 million). Report not out yet. But they did because there was a large trade matching their exact holding.

I don't know if they are still selling, but they have recently been selling and have not filled a TR-1, can see this on their annual report released a couple of weeks ago...

Still never been a Canaccord TR-1 RNS, either still selling or lazy.

JohnHenry - don't get me wrong, i would absolutely vote for a new CEO if i could. But my point was anyone who has been following LND for a while knows exactly what your going to get with BH, so there should be little shock or disappointment.

olderandwiser - If the westerly extension results in a continuation of the western pit then this is excellent. If it represents a new shoot this is also excellent - then we could have three pits East, West and West 2! They will find out in about 3 /4weeks. Either way its basically a win/win and I struggle to see how this would put off majors. A discovery of more high grade gold is a good thing. Excellent in fact. Its what we and the majors want.

'Or an early sale for a tiny fraction of its in-ground value' - What would a tiny fraction of its in ground value be? 20/30 million? You are aware that our market cap is £27 million not £270 million. A sale of a tiny fraction of its in ground value would be excellent news.

'enabling lnd to prove up that 2mn oz threshold?' - as mentioned below - what threshold? This is an imaginary threshold.

'Assuming resource markets remain buoyant, buying lnd in this range is probably going to be a smart investment for 2022, but a dead one for much of the rest of this year. IMHO' Maybe you will be correct, but in my experience I think there is nearly always a run on the SP in the build up to the MRE - especially when the company have pretty much said its up for sale afterwards.

JohnHenry - BH is old school, his interview style is not that of the modern rampy CEO's which often lack substance. I listened to an interview the other week from a company which has no gold resource and no major drilling success, but a market cap of £18 million saying that the company was 3/4 times undervalued. What is better? Complete nonsense or substance - albeit poorly communicated.

What was anyone expecting? really? I mean come one. You know how he operates, he been like this for decades hardly going to change overnight. Its exactly as expected.

In an ideal world we would have a CEO who can communicate to lazy or lay investors the value here, or someone who cares about the SP a little more. We do not. We already know this. But that in its self creates tremendous opportunities e.g. being able to buy into~ 1.5 million ounces of gold and nice battery metal deposits for £27 million. Instead we are waiting for a company to buy one of these assets. The interview today basically said, its up for sale after the MRE. But the assets will likely be split. What did you want to hear? I do not understand? Please tell me? If you are interested in small cap miners and want rampy nonsense some of your other options include buying into companies with market caps of £20 million + who have not even commenced drilling. What is better value?

Michu - Of course there is the possibility of another drilling round next year. That in effect is the 'downside' option. If that were to happen, i really cannot see the share price being much lower than it is today. But i think its pretty clear they want to sell now, its just whether they get any offers deemed suitable - that is the upside and in my eyes this makes the risk reward profile extremely asymmetrical. I personally would prefer a sale as soon as possible even if its at a slightly lower price say 80p instead of a £1 for the gold. Or alternatively a fire sale of the battery metals for say £20 million and pump that all into BAM and get it to 3 million oz. Then we can start talking about the big money.

The '2 Moz story 'is complete mis-information.

2 Million ounces were NEVER expected in this MRE. What BH has said on multiple occasions now is that they were looking for a perceived 2 million ounces and they expect to exceed that. Perhaps and overall resource of around 1.5 M oz, but then a clear exploration target to take the overall figure over 2 million ounces. Plenty have mentioned this. But it still seems to get misunderstood.

"The guys with confidentiality agreements, the big boys, have said to us we want you to show us that you have the potential to get to 2 million ounces and above. You dont have to have this in the resource, you just need to show the potential" - BH quote today.

He has said this in virtually every interview he has given in the past 12 months. Some mis-informed comments on here.

They are going to get the MRE done in late November - which probably means by xmas in LND time, then offer both or one of the assets out for sale. Does not guarantee that a potential suitor will bite but, why wouldn't they?

MId-tiers/majors need to replenish their reserves and they are cashed up
LND assets are excellent
LND want to sell.

I think this is a very rare play which is not fully understood. How many companies with such excellent assets, but clearly undervalued market cap are there actually out there in the AIM miners? Then throw into the ring that they want to sell. I think its fairly obvious the route this is going on.

JT4264 - I would not be surprised if you get some comments from some of the shareholders who have been holding for decades about patience....

Bottom line is that something has to happen this winter. What cannot happen is that we revert to the same practice of a raise of a few (3-5 million) and a drawn out drilling campaign just to add a few 100,000 ounces. Is this happens, there may be a little bit of a peak at the MRE 40p or so, but not much more. I think the company know this and I think kind of allude to this on the interview.

If something does happen either, sale of battery metals assets to help fund a large 100,000 m drilling campaign on the BAM deposit to get it to 3 Million oz; or the sale of the BAM deposit for maybe ~80p a share and then a spin out company with the battery metals deposit with a new board, it is clearly going to be a very good time for investors.

Face to face I think,

An interview is an interview, I dont see how people could expect too much. I think people are generally interested in any snippits as to how the company is going to move forward e.g. Takeover/JV etc.

Yep fundementals and understanding value are the crucial things here.

The interview is being released tomorrow morning I believe pre-market. Make of that as you wish.

The thing to remember is our market cap is still only £27 million - it remains horrendously undervalued.

Never mind the SP.. Maybe canacord are still selling, maybe it's just the 10% ers...

But that board appointment looks like someone being brought in to help manage a sale..

Or just a large overhang?

Kind of pleased that it appears that at least a large part of the selling is over. But Canacord have also sold large amounts, but maybe they are not completely selling out afterall, I guess we will find out quickly. We need to hear from BH in his interview the reasons behind why two large holders have been selling at astonishingly low prices. Not the greatest of looks for sure.

He still has a load of warrants I think, but not 100% sure on that. Wonder if he is selling to reduce holding, or to buy warrants and fund more drilling?

Can't wait for BH interview to hopefully explain all..

So there are two sellers it appears - at least according to Twitter...

Canaccord for have been for sure....

But right now appears to be Huddleston at least according to twitter and the below is rather convincing..

https://twitter.com/TakeAIM100/status/1448301987552968708?s=20

I do wonder how many people have been told about this selling at sold earlier before buying back in now... far too leaky sometimes

Canaccord done before the end of the week here IMO, 1.6 million volume already today and 10 million in the past 6 trading days.

Interview and 'other RNS' to be released after they are done, one would imagine?

Sentiment can shift very quickly.

Here is some proof that it has been the Cannacord Marlborough funds selling.

https://funds.marlboroughfunds.com/uploads/documents/Marlborough%20UK%20MicroCap%20Growth-reportsAndAccounts2.pdf

down from 10.75 million (as of june 2021) to 9.5 million as of July 2021.

11 weeks since that date, how many have they got left? Reckon they have gone through 1.5 million today alone. The end must be fairly close given the volume.

What do we reckon, final blowout? Selling done? I hope so.

1 million sell printed at 20p.

Michu - Thanks for the compliment. I think there are a few excellent posters on the LND board, methodical and those who understand what value is (rare on LSE), and I can assure you there are posters on here with far more knowledge on LND than myself! I am a newbie in comparison to some of the others, I think including your good self.

But yes it must be cannacord, you can kind of work it out for sure, but a few on the other group I think may have also heard a few 'whispers' . They were also the warrant flippers BH was moaning about I suspect and there is a screenshot doing the rounds which i think shows this. Explains why it has been difficult for the SP

But yes not a good look for sure, if they just wanted out of gold full stop, no negotiation, then i feel for the board, literally nothing they can do with someone selling 15 million shares, no prospective large buyer is going to want to take a couple of million at 28p, if they know there are 10 million more to be sold. Probably why they wanted to keep it quiet. But at the same time you cant help but wonder if someone else could have persuaded them to hold, we will never know.

At the same time its an utterly bizarre decision from the fund. They are selling LND at 21p, £22 million market cap, people can moan about the board and PR/website, but its quite frankly astonishing to be selling these assets at these levels, especially when there is I think more than a reasonable chance this could be taken out in weeks-months IMO. They could have held off selling on one of the high volume days and let it rise a bit to sell at a higher level, just doesnt make sense.

This same fund sold GGP at ~12p a few weeks before they were entered into the GDXJ where they could have sold there entire holding in one trade at 20P+, everyone knew about except from the fund it seemed. They do not always get it right and have a different mindset to us PI's. But, they must be close to finishing selling - hopefully we will be close to a final blowout. I see there is another high volume day building today...

Firmly believe that this is the best value resource stock on AIM. Those who recognize this now and are buying at 21p I think will have an exceptional deal! Just wish i had some powder left.

Looking forward to BH interview and the rumoured tie in with an RNS - what could it be (hopefully something more exciting than drilling re-commencing?), they are always interesting and really hope he touches on the SP, MRE, and the new western shoot - those grades were exceptional and surprised there has not been more discussion. Also slightly apprehensive that they may decide to drill the 2,500m before doing the MRE...... i personally hope not. This needs the news now.

It would make sense for it be Cannacord. The Micro fund were already selling in June as shown by the below link. Coincides perfectly with the drop. At the end of July the Nano cap sold out, easy to tell from that big trade ending in '661,167'.

So we are looking at 10.75 million shares to be sold since the begging of July, which is 14 weeks or 70 trading days. An average of 100k a day would put them at 3 million left. I think 100k a day average or maybe even higher is reasonable. Volume on Wednesday for example was 2.4 million - a good chance they could have dropped 1 million on that day alone.

I dont think the end is too far away. I also think it will become slightly easier for Cenkos to find other buyers the closer we get to the end.

A TR-1 saying selling finished would be the most explosive news we could hope for.

Maestro1 - I was firmly in the undecided camp regarding a large major holder selling. Far to frequently do investors claim this when stock falls and often it is not the case and instead its just PI's caving in one by one.

But looking at the volume data I think it is *highly likely* that we have had a major holder selling. Back in July there were some absolutely huge trades (1 million +) and several 500 k trades. There are only 105 million shares in issue, this was clearly a major shareholder and I think it was almost certainly the Marlborough Nano Cap Growth P Acc fund, who are owned by Cannacord. You can tell it was them by the ending of the large trade. They never released a TR-1 - are they still selling?

Despite a few exceptions the drift between the end of July and a couple of weeks ago the drift down was on very low volume, this is where it is difficult to tell if this was PI's capitulating or a seller driving it down - impossible to tell.

In the past 3 weeks we have had two 1 million volume days and two 2.4 million volume days, which is miles above the average, to put it into perspective 2.4 million is about 2% of the entire company. All of these days have been characterised by a tidal wave of buying, looking like its about to breakout, but then a wall of large 100k + sells appear at about 23p. This is highly indicative of a large seller.

This good news is that this extreme volume has cleared a large amount of stock, we will have more of these days and eventually we will get a rather explosive breakout IMO. For the record I think the seller is the other Cannacord fund, it would make sense if the other one sold and the below link suggests they sold a small amount in June - yet to be updated for July. But this is still speculative. Nobody knows how many they have left and how may they intend to sell - if it is even them.

Absolutely agree with Trifle's post below: Being a large shareholder does not entitle you to inside information and funds make decisions for a variety of different reasons.

Time will tell, but i think whoever is selling now will be regretting it in a couple months time.

https://www.morningstar.com/stocks/xlon/lnd/ownership