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Cobre/BHP might out bid SFR for PL253 and the rest of the licenses go to SFR. We could start the rig drilling but a sale/sales of the license/licenses is definitely on the cards. I'm not sure SFR could afford to buy all of them?
I have been listening to the podcast again and CB says the pl253 is a stand alone for someone like SFR, Copra (I think) or stand alone and I will take any of them.
CB is lining up a sale of PL253 and I am not sure we sell any other of the licenses until we do a bit more research on them. SFR might have to share some of the licenses?
4 years ago GLR SP were at 0.25p a share and they are now worth 1.125p so the SP is well up and the main reason is we bought the Kalahari licences so cheap 4 years ago. We now have 9 prospect mining areas and cash of over £5 million. XTR due to Bushranger has had a set back. You shouldn't blame CB for the low grades and GLR had the same thing 7 years ago - I think similar grades. This is what happens - KAV investors have had 4 dusters on the row and they are still valued at £8 million.
Ana I agree and I would be very surprised if we start drilling on PL253 ourselves because the cost of drilling and proving up in the Kalahari with all that sand is not cheap. A sale or another JV is on the cards with SFR. I was interested in why the RNS on discovered targets and believe it is a ploy to let the market and SFR know that this license is up for sale but we don't have to sell.
The RNS was just an extension of the number of good RNS we have received in the last 3 years.
We have to ask ourselves why the market is asleep and to do that you need to ask who is the market?
The market is not full of fundamentalist investors who see a bargain and keep accumulating at low prices. They are full of 10% traders or PI's who would rather buy at the top of the spike than have the ability to do their own research. I had a 14 times multi-bagger with EUA and I bought my first lot at 0.23 p on the basis of fundamentals and I sold some at 41p at their peak. GLR is fundamentally an absolute bargain and the best bit we will not need a placement this year and we could have quite a few sales., copper production at Luansombe and JV's. We have retained losses of around £20 million so any sale in the region of £30 million could mean we are paid a £10 million dividend. So the market does not matter for me this year it is all about the end game.
Tell that to my daughter FS
IKY yes you are quite right not to get carried away and with GLR it is so very easy to do so.
1. It is increasingly possible we get the full pay out from SFR but certainly not guaranteed
2. Kamatavi is a wait and see with the 80% acknowledgement and for me a sale/JV is imminent
3.Shinganda more data to chew on and my opinion a much larger drilling programme and might be the the mother of all deposit finds - Rodney next year we might be millionaires
4. Luansombe - waiting for license, production ready and a sale could well be on the cards but not a JV
5. Ferber - drilling is to be done this year - Garfield licence just found gold and other deposits and they are applying for funding from the USA government - a realistic sale maybe next year
6. Kat****u licenses due and a sale will be done due to how busy we are
7. Bulawayo - more drilling required - a future sale/jv
8.NW Zambia - early days drilling
9. Cash (including cash owed) and liquid assets north of £5,000
10. Finally, the Kalahari own licenses which could sell for a huge amount but not guaranteed
I make that 10 reasons to buy GLR at these low prices - just my opinion.
My own view is that we will get paid out by Denarius and that might be worth £15 million or so. Due to the BOD owning more shares now I hope they will wind up the company to pay out a special dividend. This is a good outcome and not unreasonable to think.
If you research the legality of paying a dividend then you cannot have retained losses. However, if the company is wound up then it can pay a one off special dividend to shareholders regardless of the accounts showing a retained loss.
Shinganda is the one to spend money on more drilling and without a JV or partner to realise what could be a huge find. We have many other prospects which are nearly at a stage to sell. It might be worth spending a bit more on Shinganda because the potential looks to be enormous.
A company in the UK cannot pay any dividend unless the company is in profit for the life of the company and is paid out of profits. So if XTR has accumulated losses it needs to make enough profit to clear them to be able to make a dividend payment.