Member Info for ConMan94

Bought a 2nd asset and is growing to 60koz. Which is £55m in fcf. Debt free.

Wouldn't it be nice if the company bought out Fratelli's investment. Would cost $16m and would leave the company with a nice cash pile of $14m. Net of about $9m which will be back over $16m cash by end of Q3.

It would mean that the SP would have to rise to £2 just to match the current market cap and it would increase all of our share holdings as a %.

Unfortunately this is one of the downsides to having a board that own no shares.

%20-30fcf starting from next annuals. Do the maths on 2026 fcf. Looks good.

The company seems confident still of hitting their target of minimum 44koz for this year. As long as we're seeing an uptrend in production then I don't really care that much. They're generating nice cash and remember they're still spending alot on development at both sites and on exploration. This is a sit and hold. I still believe the company has eyes on an asset purchase in the next few months as it makes little sense sitting on this amount of cash.

Next annual results. 20-30% of FCF. Looking between £6m-£9m FCF/Dividend. As I said months ago, the company should've started an aggressive buyback campaign. They won't because they don't own shares so they'll buy an asset instead.

Sue him Buster, he's bang out of order misleading people!!!

Will perk up into close imo

There's no rush here game other than the risk of being taken out on the cheap. The market will catch up soon.

I think we have to seriously start looking at this now as a probability rather than a possibility. 2026 I have the company producing £75m in FCF with a forward P/E of 1.5 @ $4k gold in 2026 on a FD basis. My Price target remains £4 within 2 years -quicker with serious buybacks.

PA - We can't really answer that as they've not said the split between buybacks (there will deffo be some) and divis.

I'm expecting closer to $9m in FCF this quarter, maybe 10 depending on what they average for selling price. A near doubling on Q1.

That was my buy lol

People forget that other II's have just shelled out £20m on buying the shares as well.

Can't believe some of the stuff I'm reading on here. A brazillian firm takes stake in a company mining in brazil and all of a sudden everyone is losing it haha jokers.

I wonder if this is why we've had a delay in dividends and buybacks. Company want to get these two big trades shifted then we begin a return of capital program.

2 Mines in Brazil online - 44koz this year, 56koz next year. Circa $1550 AISC. Do the maths.

Yeah that's the problem. Next year The company could do £55m in FCF 56koz @ $3300oz gold. This is nailed on £4ps within 18 months with Huge dividends to come. This is why I've been saying the company needs to be buying back shares.

Yep, would assume that Fratelli have now sold their position as well. Something going on here, it's going to taken out imo. Let's hope the price is fair.

Please explain why it's overvalued.

At 13500oz per quarter I've got Serabi making £20m per quarter in FCF. £80m PA.

Just something to bare in mind given the gold action, price forecasts and growth in production. I stick with a £4 target by end of 2026.