Member Info for ART123

It is all in the RNS. SVVI had a 7% shareholding in Landvault, bought by IR for $450M when IR's valuation was $5.1billion.

That valuation has now increased to $12.25 billion which could give Landvault a valuation of $1080 million which puts SVVI's 7% shareholding at $75.6M. Mindflair holds a 19.1% interest in SVVI which equates to $14.43M . Simples.

It looks like the placing price at .225p was far too high. Already, on the first morning, I can buy at 0.2194p.

In Namibia, they have moved the 31 December 2024 deadline for the farm-out signing and they don't even give a new deadline. And there will not be any drilling in Australia before H2 - July onwards and a bloody long time away - and H2 is from July to December anyway so drilling could be at any time in that period.

Melbourne, Australia - 5 SEPTEMBER 2023 — Southern Cross Gold Ltd (“SXG” or the “Company”) (ASX:SXG) announces the best hole drilled to date, SDDSC082, a spectacularly long and high-grade intersection of gold-antimony mineralisation 331.5 m @ 6.8 g/t Au from 413.6 m (uncut) in a 180 m to 290 m (average 200 m) down dip extension of a previous drilled mineralised zone at the 100%-owned Sunday Creek Project in Victoria

23 OCTOBER 2023 - Hole SDDSC077B intersected 404.4 m @ 5.6 g/t AuEq (5.1 g/t Au, 0.3% Sb) from 374.0 m (uncut).

With drill grades like this in an adjoining prospect, Mr Bell must be very slow. It's time he paid attention and tried a little bit harder - or maybe he should be replaced by a fresh and more ambitious CEO.

I am not sure if this has been mentioned over the last year as I am only an occasional visitor to this board (I am stuck here with a couple of million shares at about 3 times the current trading price) but surely any decent CEO would have spotted and taken advantage of the opportunity to get a JV arranged with Southern Cross Gold. Sort of along the lines of "Our partner, POW, have pulled out of the licence and we are looking to get a new partner and JV up and running so maybe you (SXG) would like to agree to drill a few holes for an equity share in the prospects. While Southern Cross Gold are not a major by a long way they still have a m/cap of AUD780M which is fairly substantial and certainly enough to fund enough drilling to see if the gold in their licence next door continues into RRR's licence.

# of Trades 43

Vol Sold 213,252,982

Vol Bought 6,442,806

The length of suspension on 1st January 2025 will only be 5 months......not 6!!!

Costs will usually be at least half of the final realisable price (spot price). Maybe the extraction costs will be a lot lower as these are bulk tailings but then using a third-party processor will be more expensive as this is always the most expensive part of the operation.

Of course they get paid the spot price. The unanswered questions are:

A) how much is it costing to get the bulk tonnage to the processing plant and:

B) how much is the processing plant charging to process the bulk tonnage into fine gold.

The NTVO get half of what is left.

I think a share consolidation is in order. This is the worst one I have seen for a while.

Processing is going to take at least 50% of the final price, which will obviously be the spot price, and then Nativo get half of that so between $10K and $15K would come to NTVO. Not a lot.

43 tons at 15.6g/t is about 670 gms or 22 ounces of gold but they wont be getting even half the spot price of gold if they are selling it bulk to a processing plant. At half the POG that is about $25K and then Nativo only get half of that. No guarantee that my figures are correct or what price the bulk is sold at.

Fine. Money is on its way and the share price has even gone back up by nearly 10% today which is a nice change.

I see that the share price has fallen to a new low over the last couple of days which also looks to be a new all-time low. Nothing much to get excited about here then!!

Tertiary acquired their first asset in Nevada on 3rd September 2012 - that is more than 12 years ago - and they still have nothing to show for it, no mines, no production, absolutely nothing. Nevada is the past: the new and active prospects are all in Zambia. It just shows that you have not been here very long, which is probably why you are still so full of enthusiasm while the news flow is all rather lacklustre.

If Mr Cheetham had any sense - and a sense of responsibility to shareholders (not that I am one but the principle remains) - he would contact Kobold and tell them to end that endless hole and start afresh. The prospect is still owned by Tertiary and will be until Kobold satisfies the farm-in/JV conditions and for them to be pretending they are still drilling a hole 8 months after it was spud is just feeding nonsense to an idiot. They need to pull the drill bit out and start again and this mindless effort should not even count as one of the 2 holes Kobold has agreed to drill to satisfy the initial farm-in terms.

Also, have First Quantum hit anything from these first 3 holes? 552 metres is quite a lot of drilling - nearly 200 metres per hole - which should be quite enough meterage to hit something. Who knows? Or was today's update just a bog standard end-of-year summary of operations.

I'm afraid that Mr Cheetham has no sense of determination and it all just gets away from him. Now it's 8 months of drilling just one hole. Of course it hasn't hit the target zone - it never will. It's time to end it and start another one.

Don't forget that prior to the Globalvision JV (which now seems to be in doubt) the share price was 0.5p for a m/cap of £500K. The only thing that has changed, assuming the JV does not complete, is that both the Chairman (DL) and the CEO (Tom Evans) have resigned.

To be quite honest this coming back at 1p looks to be optimistic.

Then read further down:

"New Funding & Broker Option

In support of the Company's move to acquire direct interests in the American Helium upstream licenses the Company is pleased to announce that it has today secured new funding of US$475,949 via the issue of new equity at a price of 5 pence per new equity share, representing a 203% premium to yesterday's closing mid price of 1.65 pence per share. The Company has therefore agreed to issue 7,520,000 new shares to the subscribers (the "Subscriber Shares"). The new equity has new warrants attached to it equal to three (3) warrants for every two (2) new equity shares subscribed for which are exercisable at a price of 2.3 pence at any time of the holders choosing within three years by either paying the cash exercise price or via cashless exercise which would result in a reduced number of new warrant shares being issued upon exercise. "

The placing has warrants of 3 new shares for every 2 new placing shares and these are exercisable at 2.3p. This rather takes the edge of the 5p placing shares and is a little bit daft. Warrants are normally at a premium to the placing price.

By the way, SeisNav, if you had been holding here long enough you would know that Nevada is the old prospect that has been around for years and should be dumped in favour of the more recently acquired Zambian prospects. Nothing will ever come of Nevada. Occasionally there will be a drilling campaign which will result in poor results and then it gets forgotten about for another year or two.

The good news for Mr Cheetham is that he can now hide behind his joint venture partners.

It doesn't look like there is anyone left here and if there is then please note that I am posting from the viewpoint of someone who was expecting a massive upswing from these Zambian copper projects but unfortunately Mr Cheetham has continued to disappoint on all fronts.

There is no one left here to take this company private. Lunn was only appointed to the board in September so it certainly wasn't his long-term plan. Silly post.