Member Info for ChartaRex

Well done Bagzzz,

Though I doubt it's anything to do with your exceptional wisdom - more about a global sell off....

Or we've signed a farm out deal with one of the supermajors & will drill this year............ :)

I'm "a pint of lager 3/4 full kinda guy" :)

Sorry Bamps,

Meant to say I'm off out now to visit my mum :)

So if I don't respond, I'm not ignoring you :)

Yes, even I have a mother, lol :)

hi bamps,

well that would make the investment case even more compelling :)

quick back of the ***packet calculation would give a reserves valuation of only $259m for the 70% we don't own. add in telfer @ $250m & we're looking at $500m+ all in.

having said that, we're due a resource upgrade in q4 and we don't know how they'll solve the problem of "still open at depth". how do you value that? do you value that.......?

Sorry, knock a billion off that £14bn - I forgot to take out the purchase costs, lol :)

Even better, I also forgot to mention that Havieron is still open at depth :)

Hey Bamps,

I've been doing a little bit of research on selling mines. The average sale price is circa 5-10% of the value. Assuming the midpoint of 7.5%, that would mean:

70% of 8.4m oz = 5.88m oz x .075% = 441k oz.

The average price of gold over the last year was $2200. If we use an AISC of $700, that would be a net cost of 441k oz x $1500 = $661.5m to buyout the remaining 70% of Havieron.

Add in a few hundred million for Telfer, bearing in mind it's coming to the end of it's productive life, has huge remediation costs and not much feed to process, I believe a realistic valuation of about $400m would seem reasonable?

Therefore we could get the whole lot for about $1bn. About £775m all in.

That would give us 8.4m oz @ $1700 per oz ($2400-$700 AISC) = $14.28bn value, or £11.07bn = £2.21 per share of value. Obviously that £2.21 is not the actual sp, but if you divide it by a mine life of 8 years, and assume a PE of lets say 3, then your looking at 83p per share.

All the above ignores everything else we have.

Anyone have any thoughts on the above?

Rex

MH01,

Thanks for the link. I like the following bit:

"The company said surface sampling programs are currently underway at the Paterson gold-copper project, with more than 1000 samples already collected and assays pending".

That's over a thousand shots at finding more gold...... :)

Having wrote my earlier post, I just couldn't help myself. So I've bought another 33,000+ shares at 7.1395p just now.

My average is well within single figures :)

FredDobbs,

Complex negotiations take time.

SD has assembled a heavyweight team of executives, with many coming from Fortescue. That should tell you something about Havieron & our potential within the Paterson. You don't leave a secure career at Fortescue for nothing........

My guess is we'll get 100% Havieron & Telfer for circa $800m-1.2bn. Going forward, I think there's a real possibility of us being bought out by either Fortescue or RIO within 5 years. Havieron is a monster & our other land holdings have enormous potential. Just my personal take on things.

Right now, at just over 7p a share, this is an absolute steal. The big boys don't care about where the sp is right now, they're focused on where we'll be in 3-5 years. So should everyone else.

In summary, close your short, buy in and be patient. You won't regret it :)

There's an RNS out :)

That's 'cos "their" is spelt, well "their", and not thier...... :)

I hold somewhere between 1 & 5.09bn shares. Not selling either of them :)

Sorry, forget the last bit, just got a bit excited/carried away there :)

Nearly forgot, he reckons we can double production, possibly more, with well interventions as we go forward. They didd 33 last year and are doing another 45 this year.. That'll turn the $50m into $100m+ per year :)

Right, I need to find a wife so I can have a kid and load up their Junior ISA! Lol!!

The numbers P McD & Anastasia talk about are are astounding. It cost us $9m to get 3 assets producing $50m - per year! That'll be $50m per year up until 2040, possibly longer. That includes zero for KON 15 & 19 when we get them. Nor for any other deals going forward.

I like the fact that the Light Well Interventions are extremely simple & cheap to do, but have a significantly positive & immediate impact on production numbers.

Who knows, maybe divis in a few years time as well :)

Deffo keeping in the SIPP/ISA till the end :)

It is, it really is dull :)

You keep buying. In fact, you should put everything you own into this stunningly brilliant investment. You could corner the market, the sp will shoot up & I'll get my 3.4p.

Go on, put your money where your gobby gob is.................... :)

"The AGM has been delayed following the passing of one of the non-executive directors in April and the back injury the Chairman has sustained that required surgery and long recovery".

This shows a complete lack of contingency planning in place, ie. utter incompetence on an epic scale....

The death of a non-exec 3 months ago should have ZERO bearing on holding an AGM.

An employee, regarless of position, should have ZERO effect on holding an AGM. That's why you have a deputy...........

Here endeth the lesson.

The do not have inside knowledge. That would be illegal.

They were just shareholders in that asset, like us.

This is excellent news. It means 60 million less shares to share any future profits with :)

Now just waiting for a few farm out deals.... :)

One lousy trade for 30 quid yesterday.....

SP at a fraction of a penny......

Zero action on the ground..........

Market & investors have completely lost confidence in Poulden & his ponzi.

Or should that be Richard Ponzi, CEO................?