Member Info for Batterseafish

Just came across this in today's IC. (I bought in here recently on basis of what I perceived as a bargain)

'The past fortnight aside, the surging price of bullion has meant it’s undoubtedly a good time to be a gold miner, and an even better time if you can increase production to meet this rising demand. Serabi Gold (SRB) is aiming to do just that at its Coringa project, located 200km from its existing site in Palito, northern Brazil.

Serabi hopes to increase annual production by a third to 60,000 ounces, which house broker Peel Hunt estimates it will achieve by 2027, by which time Coringa should account for two-thirds of output. Key risks, as ever, include disappointing exploration results and cost overruns.

Despite its shares having more than doubled over the past year, Serabi still trades on only 5 times Peel Hunt’s 2028 earnings estimates, which assume a steady decline in the price of gold from current levels to $3,000 (£2,250) per ounce. Its analysts reckon Serabi can consistently achieve earnings before interest, tax, depreciation and amortisation (Ebitda) of $80mn, implying an enterprise value (EV)/Ebitda multiple of 3 times, and that it will commence paying a dividend at its full-year results next spring. Buy. HM'

Ft suggested last week supply increasing and demand decreasing, st anyway and that a big drop likely

Lucky, here is your answer. I think poor management in summary. Also, better to buy in UK a to avoid currency fees. Uk gold and silver and other mining give good options unless you need best of the best Like Agnico Franco Newmont.

Theta Gold Mines in Australia has experienced a recent drop in its stock price mainly due to a retraction of its "Base Case" production target and forecast financial information from its Optimised Feasibility Study. This retraction was necessary after consultation with the ASX because the original production target included a significant portion of inferred mineral resources that lacked a reasonable basis for forward-looking statements. Investors were advised not to rely on the retracted production target for investment decisions, which likely caused uncertainty and selling pressure on the stock. Additionally, the company underwent a voluntary trading suspension in early October 2025, pending announcements related to funding transactions and equity financing plans, which may have contributed to volatility and price pressure surrounding the stock.

Further contributing to pressure was the dilution effect from new share issuance as part of a financing plan raising substantial funds to support construction and development activities at their TGME Gold Mine Project in South Africa. This share issuance reduced the holdings of some substantial shareholders, impacting share dynamics.

Despite the recent price drop, technical sentiment on Theta Gold Mines is still marked as a "Buy," indicating some investor optimism. The company is in a development phase with significant debt on its balance sheet, approximately US$13.2 million net debt, and operating losses in recent periods. This financial risk, combined with ongoing capital needs, makes it a risky investment. Valuation-wise, the stock trades below its year high but above its year low, reflecting some recovery potential if project development succeeds and production targets are met without over-reliance on inferred resources.

In summary, the recent drop is linked to retracted production guidance, trading suspension, and dilution from financing. Whether it is undervalued depends on one's confidence in the company's ability to advance the TGME Gold Mine Project and manage its debt. Given the risks, it may be undervalued for investors willing to accept development and execution risk; however, it remains a speculative and risky stock due to the balance sheet and uncertainty around production

Great list. I, about to research Serabi.

Mtl I think stalled from July partly because it ran so hard just before this and because of the stoppage in Philippines. Long term

It looks great.

Good afternoon,

A mine visit sounds like a great idea. I hold this and MCL.

Both have great potential once new production kicks in.

Gold looks to be in a major bull.

Only Fed raising interest rates could upset this but seems unlikely now.

Maybe a pub visit to discuss travel?

Why is it dropping so sharply I wonder

Was the presentation bad news?

I am surprised there has been no comment regarding the 24 August RNS which is surely a game changer. Perhaps that explains a hardening of the share price. Consider the following:

Namib Lead and Zinc Mining (NLZM) itself has not been independently listed on any stock exchange. However, it has been owned and acquired by publicly listed companies.

Ubique Minerals Limited, listed on the Canadian Securities Exchange (CSE) under the ticker UBQ, was progressing through the acquisition of a 90% stake in NLZM starting in 2022 and expected to commence production at the mine. Ubique Minerals focuses on exploration and transitioning to production through assets including NLZM.

More recently, in August 2025, Bezant Resources Plc, listed on the AIM (London Stock Exchange) under the ticker BZT, agreed to acquire 90% of NLZM. This deal was aimed at using NLZM's existing processing plant to fast-track development of Bezant's nearby projects. Bezant Resources itself is an active listed mining company, but NLZM remains a privately owned Namibian company within these larger listed groups.

I hold both Thor and Metal expl and many others. I see Thor up5% in Toronto now so tomorrow should be good.

Thor yet to firm up their additional reserves.........hopefully. Metals exploration presently has many more 'proven' ounces in the ground.

Consider Perplexity take on the mine. Any value to Bezant?

The NLZM lead-zinc-silver mine has been under care and maintenance since 2020 primarily due to the low prices of lead and zinc and the operational and market impacts of the COVID-19 pandemic. Mining activities had restarted in 2019 but were halted early in 2020 when the market conditions worsened, making continued operations uneconomical at that time. Despite being on care and maintenance, the mine has significant underground development in place and is maintained with limited water ingress and low holding costs while awaiting improved market conditions or reactivation decisions.

Regarding the silver reserve, the mine's Mineral Resource Estimate per JORC 2012 classification is approximately 1.11 million tonnes at grades of 2.31% lead, 6.63% zinc, and 46 grams per tonne silver. There are additional tailings resources, with measured tailings containing around 7.5 grams per tonne silver and significant volumes of zinc and lead as well. The indicated primary ore reserve grades approximately 50 grams per tonne silver in 710,000 tonnes of ore, while inferred resources contain about 38 grams per tonne silver in 409,000 tonnes.

Recent Directors sales don't inspire confidence:

06-Jun-25 04-Jun-25 Sell James Lesser 23.00 GBX 112,500 444,509

22-May-25 21-May-25 Sell James Lesser 24.00 GBX 12,500 469,509

22-May-25 20-May-25 Sell James Lesser 24.13 GBX 75,000 469,509

07-May-25 07-May-25 Exercise of Option James Lesser 13.50 GBX 200,000 557,009

07-May-25 06-May-25 Sell James Lesser 24.28 GBX 66,666 557,009

22-Jan-25 20-Jan-25 Buy James Lesser 15.02 GBX 133,129 423,675

22-Jan-25 20-Jan-25 Sell James Lesser 15.00 GBX 133,334 423,675

29-Apr-24 26-Apr-24 Buy Jacques Vaillancourt 11.49 GBX 50,000 7,044,000

29-Apr-24 26-Apr-24 Buy Jacques Vaillancourt 11.47 GBX 50,000 7,044,000

08-Jan-24 05-Jan-24 Buy Jacques Vaillancourt 11.22 GBX 50,000 6,944,000

02-Feb-22 31-Jan-22 Exercise of Option Sean Keenan 7.50 GBX 100,000 100,000

02-Feb-22 31-Jan-22 Exercise of Option Jacques Vaillancourt 7.50 GBX 230,000 6,894,000

30-Jun-21 30-Jun-21 Notification of Holding James Lesser - - - 223,880

03-Dec-18 30-Nov-18 Buy Jacques Vaillancourt 5.46 GBX 450,000 6,664,000

09-Oct-18 08-Oct-18 Buy James Lesser 6.70 GBX 223,880 223,880

08-Oct-18 08-Oct-18 Buy James Lesser 7.00 GBX 223,880 223,880

Some brokers, like Freetrade do not have facilities to accommodate tender offers. Also some holders don't follow RNS and are passive.

Special thanks to Prickly for both attending and reporting back here. I thought about going but thought it would be same old same old but it does sound like

things are advancing and we are almost there, The answer to so many questions these days is soon.

More likely to see low ball offer to buy out minorities.

Perplexity opinion of recent trades:

large trade at 2.45p in Brave Bison shares is almost certainly linked to the recent equity fundraising rather than a sudden big seller dumping stock on the open market. Brave Bison raised £13.5 million via a placing and subscription of new shares at 2.45p to fund its acquisition of MiniMBA. This price was set for the new shares and represents a discount to the pre-deal market price, which was around 2.55p–2.80p at the time.

Key points:

2.45p is the placing price for the new shares issued to institutional and other investors as part of the MiniMBA acquisition funding.

The appearance of a large trade at this price is likely a result of these new shares being admitted to trading and not necessarily a reflection of ordinary market selling pressure.

The current market price has recently been quoted higher (3.15p–3.30p), but the presence of the new shares at 2.45p can create some short-term volatility or downward pressure as the market absorbs the additional supply.

The last closing price was 2.45p, which may reflect the adjustment for the new shares now in the market.

There is no clear evidence from the trading data or news flow that this is a sign of a large, distressed seller or a negative market view on the takeover. It is a standard market reaction to a discounted placing, and such price moves are common after significant equity fundraisings.

Related

Does the large sell order at 2.45p suggest a shift in investor sentiment

How does the recent trading volume compare to Brave Bison's usual activity

Could this trade indicate upcoming volatility in Brave Bison's stock price

Why was the last closing price of 2.45p well below previous highs

What might be the reason for trades executed below yesterday's closing price

It does look as if the market is warming to this. I don't think we should be knocking Mr Bird. There has been a value unlock here and hopefully more to come soon.

Mara Rosa- the gold is coming out of the ground, Mining is continuing. It's the processing that has stopped for circa 6 weeks. It could be repaired sooner that that though.

Not my analysis . Copy and pasted from Aus report

Shares of Blackstone Minerals

BSX

fall as much as 11.9% to A$0.080, their lowest levels since June 24

** Stock set for worst day since May 19, if trends sustain

** The nickel sulphide explorer secures A$22.6 million ($14.8 million) for major drill programme at Mankayan copper-gold project in the Philippines

** Issue price of A$0.078 per share represents a 14.3% discount to last Shares of Blackstone Minerals

BSX

fall as much as 11.9% to A$0.080, their lowest levels since June 24

** Stock set for worst day since May 19, if trends sustain

** The nickel sulphide explorer secures A$22.6 million ($14.8 million) for major drill programme at Mankayan copper-gold project in the Philippines

** Issue price of A$0.078 per share represents a 14.3% discount to last close

** YTD, BSX gains 192.9%, including the session's moves

($1 = 1.5230 Australian dollars

** YTD, BSX gains 192.9%, including the session's moves

($1 = 1.5230 Australian dollars)

It's possible that if we want cash some sale of our Blackstone will be included in the fund raise? Could yet be positive outcome.