Member Info for Balanced66

Also CGPT:

For Every $100 Increase in Gold Price:

Extra Revenue = 84,965 oz × $100 = $8,496,500

Since cost stays the same, extra revenue = extra profit

As I posted before Rick Rule's view was that these so called risky jurisdictions can work out safer than so called western ones. Just look at the mayhem being caused by the safe US jurisdiction on the world economy.

Anyway back to financials which is why we are all here. Not everyone understands that gold miners are a leveraged play on the gold price magnifying the percentage increase in spot gold. Miners generally haven't caught up yet with the percentage increase in the gold price before any individual company fundamentals are considered that make stocks like Thx a compelling buy. Chatgpt analysis at $3000 gold which may go higher yet with what's going on and potential recession coming.

Great—let's recalculate everything using a gold price of $3,000 per ounce.

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Key Figures from FY 2024:

Gold Sold: 84,965 oz

Reported Avg Price: $2,288/oz

Reported Revenue: $193.1 million

Reported Net Profit: $91.1 million

AISC (Cost per oz): $765

Total Cost = 84,965 oz × $765 = $65,596,725

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Step 1: New Revenue with $3,000/oz

New Revenue = 84,965 × $3,000 = $254,895,000

Difference in Turnover = $254.90m – $193.10m = $61.80 million

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Step 2: New Net Profit

New Net Profit = New Revenue – Total Cost

= $254,895,000 – $65,596,725

= $189,298,275

Difference in Net Profit = $189.30m – $91.10m = $98.20 million

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Final Summary (with $3,000 gold price):

Despite the criticism and on this particular board Moon has been the only one talking sense and been spot on.

Others are simply rampers and are the ones who have been talking nonsense and continue to do so and many of their posts are just ridiculous like the one before this which 6 people have apparently liked. I guess dilution to oblivion doesn't affect most here.

I have a very small holding here.

I didn't expect to see such big falls. However, I think it's important to always put this in the context of the overall sector which has been in a bear market for the last few years. The big drops here are similar to the drops in many US biotech stocks.

The sector will turn up eventually I believe and the best stocks in the sector should do well. I also think there is price suppression going on now to make any new bid below £2 seem attractive. Yes markets are corrupt and this sort of thing does go on.

https://www.google.com/search?q=biotechs+index+us&oq=biotechs+index+us&gs_lcrp=EgZjaHJvbWUyBggAEEUYOTIICAEQABgWGB4yCggCEAAYgAQYogQyCggDEAAYgAQYogQyBwgEEAAY7wUyCggFEAAYgAQYogQyBwgGECEYjwIyBwgHECEYjwLSAQc1MTFqMGo0qAIOsAIB8QWEWN8n8BvSvw&client=ms-android-google&sourceid=chrome-mobile&ie=UTF-8#ebo=0

Troublesome living up to your name.

It's a free discussion board I will post when I like. Does bother me when new investors might be presented with one view only.

Yes there are positive articles and news stories but more negative news has appeared recently. Quite easy to find if you search online. Yes people are free to invest as they choose but it's telling that the positive predictions here have come to nothing. I do wish investors success here but the overall sentiment appears to be blinkered.

Anyway I'm not invested here. Was interested in Ceres Power but that is being affected by the mood change as well; just today there is an article about Doosan discontinuing hydrogen fuel cells. It doesn't mention that it's the fuel cell with Ceres but shows the negativity that has been building up from the last 6 months or so.

One of the type of articles that doesn't get posted here:

https://www.morningstar.co.uk/uk/news/258548/whats-the-outlook-for-green-hydrogen-in-europe.aspx

All I'm seeing lately is lots of news about cancelling projects due to cost overruns or lack of demand etc. Big companies are also cutting back on their research and development here.

The hydrogen economy opportunity doesn't seem to be the same from over 12 months ago.

Yes I think there will be a role for hydrogen but at a smaller scale than originally envisaged and/or slower adoption over a longer period of time than currently forecast.

Hope investors here aren't overextending themselves as the future direction of hydrogen use is unclear yet.

This company has nothing left to offer.

Egypt was a total disaster; many shareholders voiced their concerns even before the issues that left to the exit. The successful drills that produced oil were quickly showing a fall in flows. When asked at shareholder meetings about this the BOD were evasive and didn't address this and only accepted this much later.

The CEO has failed to deliver anything here and there needs to be serious questions about the level of salary, the salary should be around £60,000 after all there is no oil company anymore and a CEO is not required to do anything meaningful regarding a data room exercise that's an admin function.

Jamaica is brought up when all else fails. No one is interested imo as this process has been going on for years.

There could be a placing announcement any day now without notice so this is high risk without any investment value.

It's just a blatant coordinated ramp.

China doesn't export its domestic production according to this article.

Any new gold discoveries will take time to mine if genuinely as good as claimed.

Any new gold added is likely to drive up the gold price as it's a race for who has the most gold at the moment.

We haven't seen anything if China were to reveal it's true holdings which several experts believe could be over 30,000 tonnes more than 10x the official number.

If these were ever disclosed, the gold price would likely go nuclear overnight - the stuff of dreams! It may happen one day as all this gold buying is to diversify away from the dollar holdings.

https://moneyweek.com/investments/commodities/gold/603131/how-much-gold-does-china-own

A day of action. Buy some physical silver to break the manipulation.

https://www.kitco.com/news/article/2025-03-27/silver-squeeze-20-will-silver-price-see-biggest-technical-breakout-modern

Genghis these are all issues for every single miner and not specific to Thor. All miners have things in motion and often they do get delivered in succession. It's the nature of mining. I'm in GGP and it has these similar kinds of news flows that are awaited but it hasn't stopped the share price powering ahead because the company is progressing those outstanding aspects like Thor is.

Segilola is not a concern as mine life is still several years away before some easy extensions. The company have addressed the Douta PFS in the latest news releases.

Cashflow won't be a concern going forward due to the strong gold price. A combination of cash and debt for Douta will be fine.

Aaz had that major interference from the government that significantly impacted their production and from which they are still recovering. So I wouldn't say the political risk is greater here. A nice resolution here and a messy one at Aaz which halted their production. Even more of an undervaluation then compared to Aaz.

The whole sector is down. UK stocks follow the US market.

Some great bargains there at the moment on silly valuations. Regengxbio has been mentioned below for example, which I bought recently and has 1 FDA approval due this year and 2 near ready approvals hopefully within the next 2 years. One approved marketed drug already and partnerships with several international pharma companies. Cash on balance sheet and more due within 12 months potentially. Yet sat on a silly valuation like PRTC. Other stocks also like Crisps Therapeutics with around half market cap in cash and drug sales increasing. Not intending to cross ramp but just showing that in a bear market stocks don't really go up.

But this is a time of opportunity and we should come out of the bear market soon hopefully; they don't last forever.

Positive views here:

https://www.trustnet.com/news/13434854/why-its-time-to-invest-in-biotech-again

More examples from CGPT:

Yes, several smaller mining companies have managed to extend the life of their mines by decades, often through resource expansion, acquisitions, or technological improvements. Here are some notable examples:

1. Caledonia Mining – Blanket Mine (Zimbabwe)

Originally expected to close in the early 2000s.

Ongoing exploration and investment have extended its LOM to at least 2040.

A successful underground expansion increased gold reserves and production.

2. Kirkland Lake Gold – Macassa Mine (Canada)

First operational in 1933, expected to shut down by the 1990s.

High-grade gold discoveries and new mining methods have kept it running into the 2020s and beyond.

Now part of Agnico Eagle Mines after a merger.

3. Pan American Silver – La Colorada Mine (Mexico)

Thought to have limited reserves when acquired in 1997.

Exploration doubled its resources, and expansion projects have extended its LOM well past 2040.

4. Perseus Mining – Edikan Gold Mine (Ghana)

Initially expected to operate for around 10 years after starting in 2011.

New discoveries and better mining efficiency have prolonged its LOM significantly.

5. Westgold Resources – Big Bell (Australia)

Originally mined from the 1900s to 2003, then shut down.

Revived in 2017 with underground development, extending LOM into the 2030s.

2. Resolute Mining – Syama Gold Mine (Mali)

First mined in the 1980s, expected to close by the 2000s.

Transitioned to underground mining in 2019, now has a LOM of beyond 2032.

Fully automated underground mine.

3. Roxgold (Now Fortuna Silver) – Yaramoko Mine (Burkina Faso)

Small but high-grade mine, started in 2016 with an estimated LOM of ~7 years.

New discoveries (Bagassi South and regional exploration) extended LOM to beyond 2030.

Produces ~120,000 oz/year.

4. Shanta Gold – New Luika Gold Mine (Tanzania)

Started production in 2012, initially expected to last only 7–8 years.

New drilling and mine expansion extended LOM to at least 2031.

Aims to increase reserves further through regional exploration.

5. Hummingbird Resources – Yanfolila Gold Mine (Mali)

Opened in 2017 with an expected LOM of 8 years.

New resource discoveries and optimization projects extended LOM into the 2030s

Examples of mine life extensions (Chat GPT):

Yes, several mines around the world have had their life of mine (LOM) extensions extended by decades due to new discoveries, technological advancements, or changes in market conditions. Some notable examples include:

1. Olympic Dam (Australia)

Originally expected to operate for a few decades after its discovery in 1975.

Continued resource expansion has extended its LOM well beyond 2050.

One of the world's largest copper, uranium, and gold deposits.

2. Grasberg (Indonesia)

Started in 1970s, expected to last a few decades.

Major underground expansion has pushed its LOM beyond 2040s.

3. Super Pit (Australia)

Initially planned to close around 2025.

New exploration extended LOM to 2035 and beyond.

4. Carlin Trend (USA - Nevada)

Discovered in the 1960s, expected to last a few decades.

Continues to produce gold, with a projected life beyond 2050.

5. Palabora (South Africa)

Opened in 1965, initially expected to last about 20–30 years.

Transitioned to underground mining, extending operations into the 2040s.

Factors Enabling Long-Term LOM Extensions:

New resource discoveries through exploration.

Improved mining and processing technology (e.g., block caving, automation).

Higher commodity prices, making lower-grade ore economically viable.

Regulatory changes allowing continued operations.

Just the usual pump and dump. These posters will be gone soon again once they have taken their 10-20%.

No serious investor would invest here now after the shambles and complete failure to execute anything meaningful. I doubt any speculators would be interested either as there are better risk/reward punts out there.

Great interview Schmidt1 and worth listening to for all. The LOM extension at Segilola will add tremendous value as SL mentions, I see it as free money for each year of extension as everything is already paid for as mentioned by SL.

The exoneration of the company and strong public support by the government for the company and mining investment into the country is also great news. The government will be keen to retain Thor in the country beyond the mine extensions which may in any event go on for a lot longer than many of us expect. I have read about many mines that have been going on for may years beyond the original LOM and many also running into decades. I'm not saying we could see decades but it shows the possibilities and with the low cost production (which is some of the lowest in the world) and high gold prices this is a money printing machine.

Goldman's have updated their gold estimate for the year to $3300; a few months ago it was $2500. Despite the investment banks trying to curtail the rise in the gold price, it looks like they are losing their hold on this now. Goldman's also predict continued aggressive buying buying by the large central banks for the next 3-6 years.

Retail investors in the west are still late to this rally. Additionally, portfolio percentage allocations to gold for investors in general are low. Even a 1% increase here may have a very significant impact on the price of gold. Imagine what 5% portfolio allocations will do!

The miners are in the best position for a long time with high margins and profitable operations.

Some are forecasting 10x increases over the next few years for the best gold miners provided the gold price stays strong and increases over that time.

Thor is in an exceptional position in having very good aisc, no debt and a depressed share price relative to others, even after the recent increase.

It's not easy correcting typos on the phone as scrolling up is not easy hence my posts may have one or two sometimes.

https://www.reuters.com/markets/commodities/goldman-sachs-raises-end-2025-gold-price-forecast-3300-per-ounce-2025-03-26/

Yeah Noel whatever you say! See your charts didn't work on AAU, thought you had a foolproof system the way you were describing it before - that's turned into a disaster for you and you were ramping it the other day.

This has turned into a disaster.

Real dilution yet to come with the Zimbabwe project.

They were cash rich at one stage with the sale of part of the business and should not have paid those dividends with hindsight.

Great research all.

Federal government supportive and bodes well for the future.

Easier to expand in Nigeria with additional projects which I would like to see.