Member Info for ChartaRex

All,

It would appear pessimism abounds, with the salutory bickering & accusations.

I posted the valuation of GGP about 2 years ago? It was, from memory, about 20.69p based on declared resource & fully valued (ie. if the 6.4m oz was all mined that day and sold, ergo a P/E of 9, based on the known details at the time). I received horrific abuse for it.

However, that number has been increasing steadily since then, as each drill hits more gold (as stated in the RNS's). Additionally, we have new players to consider and a JV with RIO Tinto to explore our acreage (SD said on his recent interview that he wants to drill "several dozen" really interesting targets as a priority).

The current sp is doing what it's supposed to do. See the link below re the mining lassondre curve:

https://www.visualcapitalist.com/visualizing-the-life-cycle-of-a-mineral-discovery/

So Ladies & Gentlemen, NOW is the time to position yourself, depending on your views. We're just going through the natural cycle at the moment, yes it's frustrating, but it's also an opportunity........................ :)

Rex

What a spendid idea ianfm, I may partake in a few tonight :)

In the meantime I've just bought a few thousand more Afentra this morning, which put me in a rather positive mood :)

I wish it was the drink! I'm loaded with the cold at the moment, not nice:(

Then a P/E of 4 would be about 72p. I'll take that every day :)

Rex

Sorry ALLAN1942, I was a bit bleary eyed when I was typing. Must try to stay in bed longer :)

Nice find Allen1962,

I particularly liked this bit:

"In five years' time we want to build a multijurisdictional company with a viable production base of tens of thousands of barrels."

He reckons revenue of about $50m a year going forward. On a P?E of 10 that would be £1.80 a share. With other deals it'll go higher still.

Long term hold for me, that's for sure! :)

Rex

If the speculation is true, which I seriously DOUBT, then that's a 100% profit from here if you buy today. If your underwater, it's an opportunity to average down.

SD has said he wants to BUILD a multi-asset company, and on his recent podcast he said we have "several dozen" targets to go for that he's excited about.................... & I believe him.

We also have RIO as a JV on our tenaments.

I topped up again the other day at 7p 'cos I have faith in SD & the board. You pay your money, you make your call.

GLA GGP'ers

Rex

Zengas,

He's trying to sow fear and alarm. Don't hit "reply" to his message, it just re-posts his thread heading "Net debt blah, blah, blah". Start a new thread title if your responding to the shorter.

We all know Afentra is a cash machine.

He's just trying to lower the price to get out of his massive short position. Maybe if we all report him LSE will remove him from the BB - again!

Rex

PS. We were massively "in the money" at $65 a barrel, now it's up to $95 today. Thats an ADDITIONAL $30 per barrel profit for us! (less tax etc).

PPS. I like your comparison to Petronor :)

Well said ianfm.

Further to what you said, we've also not only replenished the oil sold, but we've increased it by 150%. So we've got even more cash coming in soon.

Terry is a shorter & doesn't care about the truth. His type are the worst on these BB's.

Rex

Hi RoadRunner,

These things take time to deal with, sometimes years :(

However, ECO have stated they're currently in Farm out discussions with other Majors, so at least things are happening in the background. Just a matter of patience. It may be worth taking a break from looking at your shares just now, it'll only lower your mood. Sometimes a short break can give you clarity/peace of mind.

As I said about the eggs, it's best to spread your money around a few companies, less profit but also less of a hit. I've got holdings in Greatland Gold (just topped up again at 7p), Mila Resources (microcap Gold Explorer that's found gold & just signed a cracking deal with Liontown, a $6BN company, to explore for Lithium on it's acreage, and Afentra, which is an absolute no brainer & will be a cach machine for years to come. Some of these I have decent wedges of cash in & others are small "punts". But my foundation Portfolio is basically blue chips.

Maybe re-evaluate your strategy & personal risk tolerance levels.

Hope that's helpful & best of luck :)

Rex

Don't lose faith guys, as the old saying goes; "it's darkest just before the dawn."

Remember we have exploration blocks in all the hottest frontier acreage in town right now - South Africa, Namibia & Guyana. WE & our JV partrners are currently taking to the Majors about Farm ins. Negotiations are slow and technically painful to thrash out. But they've been ongoing for months now. News could drop anytime.

I'm relaxed as I only have a small position here, along with a few other miners/oilers - "eggs & baskets" springs to mind.

Keep the faith, this was at 46p a year ago & may well get back there again.

For risk takers, this may be an opportunity to top up & average down.

Rex

£1 would be nice. I think my average is about 21p from memory. A nice 5 bagger, with divis in the future :)

Hi Duster,

I think we got up to 31 or 32p the other day, so I was close, but no cigar! :)

Anyway, it's only a prediction, or as I call it "wishful thinking".

I think once the ink dries on the deal it'll hit at least 40p (yes, another prediction!) Lol!

Rex

You should have hit reply to one of my posts instead :)

Rex

It plays right into his hands Duster.

Rex

Oh, and billions of barrels still in the ground to be squeeeeeeeeeezed out :)

See what I did there Terry? Changed the thread title and Squeeeeeeeeezed you out :0)

And we'll do it every time you show your face here.

Rex

All that dumping Terry, yet the share price remains high.............

You are a most unsatisfactory "dump" Terry!!

Rex

Massive cash generation since last year, replenished our reserves by over 150% in the last 6 months, deals in the bag within weeks, cash in the Bank, dedbt facilities agreed on very favourable terms & dozens of other prospects being lined up for consideration.

This is a compete no brainer for those wanting to make money over the next 6-12 months.

How's your short doing Terry, oops I mean JAdams 5000.

Hey, is the "5000" how much your down already? Lol!!

Rex

Why don't you read the Half Year report - you know, the one dated 12 September 2023.

That's where you'll find the info regarding our most excellent cash position and debt funding arragements.

Anyway, your not a shareholder, don't you remember? You borrowed tons of shares & then sold them. That makes you a non-shareholder. Anyhoo, now you have to buy them back at a higher price to fill your legal obligations.

Enjoy :)

Rex

Hi Terry, nice to see you back - not :(

How's your short doing, lol!

I'll be buying relentlessly for the next few months, how about you? :)

Rex