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I think 6p is a bit steep. 70m for 2k boe/d which this is dropping, with no obvious route to seriously increase this at the moment. However, I think 3.5/4p would be fair value right now.
Lokanraej - you're probably right in that the company hasn't played the AIM game. But If they had been playing the game, more investors would've been hurt during the covid period and sancrai failure as whilst the pump is greater, so is the dump.
They're running the business likes a 20k producer, when in reality, the production here is still quite small and shrinking by the day and so a bit of a pump from the bod once in a while wouldn't go a miss.
Having said that, you can't really fault them too much. We know what they're plans are and it's up to each investor to either strap in for the ride or get off.
I think when the update is given the cash position could set the SP alight.
Indeed it is pedro. What we need now is the license to be granted for Coringa and funding to be announced. Once that happens, providing gold doesn't drop to the floor, I see Serabi at least £100m valuation which is bag. Check out Jaguar's valuation on the TSX and their relatively short mine life. If we can get close to that valuation we should be looking at 3x without any exploration success.
Zero Debt
Assets held paid for in full
has $15m cash (dependent on drilling)
Generating FCF
For me I struggle to see much downside risk when the co is valued at £50m.
Production to be at 75k as a conservative estimate within 2 years. This will come with debt finance and no dilution as per BOD.
We've then got multiple open pit opportunities to go for.
Then to mention M&A in the gold sector at the moment.
Really struggling to see many better gold mining options that can provide multiples returns with low downside risk.
New video - https://www.youtube.com/watch?v=VCNnps6YwS8
https://www.youtube.com/watch?v=nvRmAx2q7xA
not much new stuff but still good to listen if you have free time
https://twitter.com/Possibly_Ivan/status/1424260368680067074
The data was the reason I initially took my position back when the SP was 6p. Of course, Maurice Treacy was heading up that part of the business. We don't really hear too much from him anymore, and he's not even on the presentations anymore. His Linked in says he's still at the business. Looking forward to announcements coming up regarding DIM - has the potential to be gargantuan!