Member Info for condor_forever

Pj70, you can't compare Nic to Australia. Use Mako or Mineros S.A as slightly better comparisons.

I've got to ask, are you in anyway related to Jim?

AuInspired, are you willing to disclose how many shares you have now in MTL?

Sakura, if you ignore their recent acquisition and that hasn't been priced in yet, they are currently valued at £550m. They will start production Q1 2026 and aiming 90,000oz at circa $1200 AISC. About 10% of that gold will go to Wheaton for their gold loan and that continues for several years.

However, they have 4.8m Oz gold and have a growth plan pending their water issues to go from 20,000tpd to 80,000tpd which will obviously massively increase their production.

With their growth profile, I wonder if any of that is priced in. Even if we mat he'd their current market cap, that takes us to around 19p. As mentioned the other day, it'll be interesting to see what happens to their shareprice in 2026 to give us an indication to where we can be in 2027.

Hi Sakura, I follow Rio2. They've just made a pretty good acquisition of a copper producer so now they'll be a 2 asset producer in the very near future in 2 jurisdictions.

Want to join in Surrey? If so, I'll happily give £300 to charity if I lose.

Kat, happy to void your participation given you read it wrong.

Any other takers? All going to charity 👍

Hi Kat, I'm feeling in the Christmas spirit so I'll accept yours as well (so I'll donate £200 to charity) if you both win the bet and you stick to £100.

Nice one tikitaki. I hope you are right 😜

TrueRed, or anyone else, fancy a little bet? £100 to charity, I'll give it the sp is over 30p at any point in 2026, you give if it stays under 30p in 2026. I'm true to my word, connect will vouch for me.

Tikitaki, I'd rather be less optimistic and pleasantly surprised come this time next year. I would be well chuffed with 25p by end of 2026. Rio2 share price went up X4 from announcing construction and they are set for 1st pour Q12026. It'll be interesting to see what happens to their sp once in production given they are a single asset miner.

Tikitaki, there is a decent Facebook page for Mina La India from the staff on the ground:

https://www.facebook.com/share/1TJJXhJGCj/

Actually, montage just bought another company that has about 1m Oz for $170m. They are now worth $3bn CAD. Equates to 50p. Again, need Dupax firing on all cylinders. Too early to say.

I'm using Rio2 and Mineros S.A are comparisons. Works out somewhere between 19.5p and 30p and that basically includes La India only.

If we can get up to 300,000oz, then could be compared to someone like Montage gold corp, market cap $2.5bn CAD.

Maybe because you just pointed it out EL, but yeah, I see it.

Sakura, my friend's brother works in mining. He said it's too early to know until drill results come back. He isn't a geologist but knows more than I would. Commented obviously on the high grade samples being high.

It does feel good to know we can build la India without any dilution or gold stream.

Montage gold corp are worth $2.47bn CAD. They are a single asset in Africa and are in construction at present. Their capex is $835m USD for 300,000oz for a 16 year mine life and AISC just over $1000. They have signed a gold stream with Wheaton for $625m but have to give over 400,000oz, maybe closer to 540,000oz. At $4,000 gold, they are giving Wheaton $1.6bn worth of gold for upfront $625m and roughly 60,000oz per year for the first 5 years.

Crazy when you compare our 145,000oz per annum for circa $125m capex. All without any gold stream.

Very happy to be proved wrong but I personally don't see the 'market' valuing us higher until we get la India close to or in production. We may see a bump with dupax drilling, but again how long to get a good understanding of the resource size there and then how long to repurpose the plant when runruno dries up. Looking at the 2nd half of 2027 to get runruno ready for Dupax.

Surrey, I'm hoping 20-25p by Christmas 2026, not 2025. Think it'll take a bit longer to realise la India's value.

Connect, depends on your time frame. Where do you think there is better value? Or could wait to see if it drops a bit lower.