Member Info for Bismarck

Morar

It seems you were correct. Following your purchase the SP has now fallen to 73.45p which I have taken advantage of and just bought some more.

A big part of the problem is that most of the shares are owned by the BOD and other "non sellers" so liquidity is rubbish

In reply to the Twitter post announcing 1000th bag of gold concentrate, David has replied -

"David
@David31192471
·
1h
Replying to
@scotgoldresltd
Why put gold in concrete? What purpose does it serve?"

Van Eck ETF has dropped a fair bit in 22, following the wider market. More or less on pat with CMCL's drop.

I had a quick look at the P/E's of some of their top 10 and I could see nothing that looked remotely attractive compared with CMCL's fundamentals.

https://www.hl.co.uk/shares/shares-search-results/v/vaneck-vectors-etf-junior-gold-miners-ucits#:~:text=Aim%3A-

Using this as a benchmark our SP has actually held up OK in 2022, whereas most junior gold miners are in the red.

https://www.hl.co.uk/shares/shares-search-results/v/vaneck-vectors-etf-junior-gold-miners-ucits#:~:text=Aim%3A-,VanEck%20Vectors%20Junior%20Gold%20Miners%20UCITS%20ETF%20is%20a%20UCITS,Gold%20Miners%20Index%20(MVGDXJTR).

I agree, it should be higher, and assuming the next set of production numbers are at top end or exceed guidance as Phil has suggested we'll get another lift up. In the meanwhile I've put in a buy order to top up if it drops any further.

Great Eastern Energy Corporation Limited (LSE: GEEC), the fully integrated, pioneering Indian Coal Bed Methane ("CBM") Company, will announce results for the year ended 31 March 2022 on Friday, 8 July 2022.

Looking at my Stockopedia report we have forecast NP for 2022 of $3.94m, giving us a P/E of 9

The forecast NP is shown increasing to $8.2m for FY23, which at current SP would be a P/E of around 4.5!

Despite the challenges of covid they've continued to pay down debt, currently now $50m

Things are looking good, even without factoring in shale.

I've never understood the share price cycling between 20p and 40p over the past year? Hopefully on our way back to 40p again, or hopefully even higher! Luckily for me I took some profits both times we hit 40p and bought back in at 20's.

Now seriously considering buying more and holding

Do we know if there has been any update on the Mannargudi block arbitration?

I'm looking forward to next production update, which with any luck will exceed guidance. I too have faith in the current management.

Now what was I saying the other day about bridges?

$2bn investment in shale would be pretty significant upscaling for this business of £29m market cap. Obviously would take some years but would be a complete gamechanger.

Good to hear the pipeline still progressing, albeit quite slowley

Topped up this morning !

So frustrating, we get some really good news, SP increases to 85p where it hits resistance, then drops back again, normally into the 60's historically....

@ Tyndrumboy

What's happened to your mate who's normally so supportive of the company on this board? He's been unusually quiet of late. Should we send out a search party, perhaps first looking under bridges that cross the Cononish river?

I looked at RR today, actually for the first time in over a year with the thought that it may now be worthy of a dabble.

The financials are indeed horrifying and short to med term prospects with the current economic outlook are not good at all, so I will definitely pass until I can find a much lower entry point, maybe 50 to 60p.

One of the first posts I read from a regular poster here implied that this was a quality stock at a bargain price, of the sort that WB should be interested in buying. He ridiculed another poster who suggested otherwise. There is no way WB would invest in RR at this level at point in time. Mannnan you are absolutely right

Thanks for the correction and no need to apologise. We know that SGZ will be in the bottom quartile in AISG next year so it will be profitable nomatter what happens

@TyndrumBoy

Where did you get those AISC figures? From the numbers I've seen on RNS's and SP Angel notes those numbers look like they should be £ values not $ values

From 21 April RNS -
Scotgold Resources Ltd (AIM: SGZ), is Scotland's and the UK's first commercial gold producer. The Company poured first gold in November 2020 at its Cononish Gold and Silver Mine ('Cononish) in Tyndrum, Scotland and is developing it into a +23,500-ounce gold mine per annum by Q1 2023. Cononish is a high-grade underground mining operation with a central processing plant producing gold concentrate for off-take and gold doré for the Scottish Jewellery industry. Once in full production, the mine has anticipated forecast operating costs of c.£544/oz AISC, which will place Cononish in the lowest quartile of gold mining operations globally.

Now it seems the company has done a great job of resolving the problems it can control, there may now be another battle ahead against which it can do nothing other than maintaining the lowest possible AISC - the negative correlation between real interest rates and POG.

https://seekingalpha.com/article/4480701-real-rates-are-rising-sell-gold

I still see some short to med term upside in the SP as it's clearly undervalued at present, but we could be looking at more challenging times ahead.....

I guess we buy these shares because the fundamentals are compelling, like being cash rich with a P/E of 4, but they are only this compelling because junior miners operating in Africa are not in favour. Average P/E in the mining industry is around 9, so I guess companies like CMCL will just stay cheap relative to their peers as long as that attitude continues.

Pan African has similarly strong fundamentals which are also not reflected in their current SP.

Would be nice to see Goldman's prediction of $2500 POG for 2023 come true. At that level CM's net profit would be doubled! We would be looking at £20/share....

A very good RNS followed by a confidence inspiring presentation

What's frustrating is the lack of significant SP movement. After a few buys in mid 70's yesterday it's back to 72p today (and that's the buy price I was offered, not sell price). Hopefully confidence in the company will continue to grow in the coming weeks/months as production continues to ramp up and the thickener goes online, which will be reflected in the SP

I was thinking the same thing too, I guess SP effectively increased by 3% today then!