The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
yeh, oops! My million times table needs some work!
NEW AGE, right next door have booked reserves of 1.5 billion barrels oil.
Reading between the lines,
Thats nearly 4X the 300m reserves he said previously we might have.
Ian Selby, Chief Financial Officer, acquired 170,612 ordinary shares ("Ordinary Shares") at a price of 2.3445 pence per share. Mr Selby's resultant interest following this purchase is now 1,069,348 Ordinary Shares, representing 0.27 per cent of the Company's issued share capital.
Mike Read, CEO and Chairman, acquired 400,000 ordinary shares ("Ordinary Shares") at a price of 2.45 pence per share. Mr Read's resultant interest following these transactions is now 10,403,940 Ordinary Shares, representing 2.6 per cent of the Company's issued share capital.
A letter of intent from the Government has a lot more credability than from your landlord.
Yes but we have a letter of intent from the government.
From yesterdays RNS
The board is encouraged by the progress made to date on its negotiations to renew the Tilapia licence and having now received a letter of intent to re-award from the government anticipates further news in the coming weeks regarding an extension of the licence to 2040.
Those figures dont include any value for the wells we have already drilled and the infrastructure that is in place, all of which are worth in excess of 10 million pounds.
As a long term holder of AAOG. Since the Djeno result, I have quadrupled my holding.
The short term traders are giving long term holders the chance to load up with cheap shares.
I would expect there to be others like me, so at some point the balance will change and the shares will reach a proper value.
If you take the probable 300m barrel reserves here and the current price of oil at 60 USD. The value of each barrel of reserves can be estimated.
With a company market cap of 25m GBP and no debt. After deducting the 10m USD (7m GBP) owed, this gives a value of 18m GBP that you are buying into when you buy a share.
AAOG currently has 56% of the total 300m probable reserves, which is 168m reserves.
There are 238m shares, 168m divided by 238 is, 0.7barrels of oil reserves per share.
With the shares at 10p, the value per barrel in the ground is only approx 13p.
Seems very good value to me as a long term hold.
Whoever is selling, thank you! Just got 100k at 10p.
Thats more to add to what I already have and is another 100k off the market for a long term hold
That is great research sheet Aim Chaos. Thank you for putting in the time and effort to produce it and sharing it. I did read it a while ago and that is where I got the possible valuation for Geo if it were to list on the Bombay stock exchange.
Lets not forget. Geo could be worth around $60m if listed on the Bombay stock exchange. That would make KGLD's 20percent stake worth $12m. If KGLD retained 10 percent interest, that could give a cash injection of $6m into the company. Maybe this is the sort of thing that they are considering which is why they have commissioned a valuation.
Nice rise so far after the ridiculous fall, just about back to my average price of around 1.35 which is nice. Cameron Parry's target is to get this company up to a market cap of 50million. It seems entirely possible to me and I have great faith in him as CEO. I will continue to hold this one long term.
32 minutes in: "There is our market cap. The market knows we've got about a million pounds in the bank" Link to video share-talk.com/share-news/cameron-parry-lonkgld-kolar-gold/
That is exactly word for word what CP said in his summery at the end of the video, taken on Saturday evening.
Sorry about your Aunt CW, that was a good age to get to. My gran lived to 97 so she beat her! I have already topped up here and have loads. At these prices this company is really good value. Especially with Cameron as CEO.
Cameron says at the end of the video: "The market knows we still got about a million pounds in the bank" That is impressive along with the investment in Finland Gold and the FinnTech Gold. I am happy to continue to hold KGLD, it does seems very undervalued.
New 32min video from last weekend's share talk investor evening with Cameron Parry and M Prasad share-talk.com/share-news/cameron-parry-lonkgld-kolar-gold/
Today's article is at vccircle.com
“It’s been long since these mines have remained closed. Now, cut-off grades for gold is low and the dumps lying there may contain sizeable chunk of gold ore. This is a perfect case for reviving mining operations at BGML. However, if employees will have a say or it may be revived via state-run undertaking is a matter which needs to be seen,” said Dipesh Dipu, founder and partner at Jenissi Management Consultants, a Hyderabad-based energy and resources sector consulting firm. Former mines minister Narendra Singh Tomar had also asked state exploration agencies to re-evaluate the dumps as well as the mines of BGML in order to determine the correct value of these mines.
Government approves exploration projects in Kolar Gold Field; defunct Bharat Gold Mines may get a lifeline. In what may be a lifeline for Bharat Gold Mines Ltd (BGML), the government on Tuesday approved three gold exploration projects in the Kolar Gold Field (KGF) area of the defunct state run firm. Previously known as Kolar Gold Mines, BGML is a public sector unit under the ministry of mines which ran into heavy losses and was eventually closed down in March 2001. The mines ministry plans to expedite India’s gold exploration efforts with the state governments of Madhya Pradesh and Jharkhand putting up gold deposits for auction. India and China were the key countries dominating the global gold market in 2015, according to the World Gold Council, a lobby group. “The Standing Committee on Promotional Projects (SCPP) approved three gold blocks for exploration in the KGF area of BGML. These blocks are to be explored expeditiously to decide the fate of BGML,” said a senior government official on condition of anonymity. The exploration proposals cleared by the SCPP includes estimation of gold ore in BGML leasehold area which may be handed back to the closed company, said another government official, who also did not want to be named. “State-owned Mineral Exploration Corp. Ltd (MECL) will undertake exploration work up to G3, or prospecting, level. Efforts are on to revive the company rather than selling it to private parties,” said the second official, adding that the company still exists as per the Companies Act as its assets have not been liquidated. This comes at a time when the National Democratic Alliance government is also trying to revive three defunct urea units at Barauni, Sindri and Gorakhpur. India’s total demand for gold jewellery, bars and coins increased by 6% year-on-year to 233.2 tonne in the fourth quarter of calendar year 2015 (October-December), according to the World Gold Council’s demand trends for 2015. However, consumer demand for gold during the second quarter of this year (April-June 2016) fell by 18% to 131 tonne compared with 160 tonne in the year-ago period due to steep prices. Around 15,390 metre of drilling is required in 80 boreholes in an around the KGF area, which will entail an investment of Rs.18.76 crore. The largest gold reserve of BGML, KGF, lies in Kolar district of Karnataka. With the mining lease of KGF expiring in 2013, a renewal application has been filed. Queries emailed to the spokespersons of the mines ministry and MECL on 25 October remained unanswered. According to information available on the website of the mines ministry, even after 120 years of mining the value of the fields runs into a couple of thousand crore. Experts too believe that KGF has potential to be revived.