Member Info for DeathStranding

Well there you go. Nothing to see here. Jam tomorrow.

What a moaner.

EV of circa £5m seems unjustified on lack of news and no plan.

Sure they have some doers but need someone on the exec team to manage the business and take strategic decisions. An experienced gold geologist as CEO.

You may just need to be patient while they appoint someone to run the program. They have cash and a conceptual project but nobody on the management team is qualified or capable of running an exploration project. Be interesting to see who they get, and if they hire an experienced professional or contract it out.

There was no rationale for it to be higher than 10p. That's how it was valued by the company and its new investors and nothing has changed since the raise.

Well none of the executive team are qualified or experienced in exploration. They should fix that.

What a whingefest. The price is up and they have money in the bank. Considering you told us if they didn't get a JV partner it was gameover, the current situation is healthy.

The only idea they have expressed since Demir exited is deep drilling at Clontibret. Presumably this is what new investors bought into and if you think that is going to be a quick win then you are in the wrong game. First thing they should do is hire a geologist to lead the company and that takes at least three months for someone decent. Six or seven months until drill results so not a lot for PIs to get excited about, especially on the London market where there is clearly very little / low interest in this.

Hard to say really since they haven't shared any plans.

Appointing a geologist to lead the business would be a great place to start.

Congrats on the fundraise at a high price relative to where it's been.

No specifics yet for investors to buy into around an actual program and anticipated outcomes. Seems like there might be some deep exploration results to look forward to in 6-7 months time. Until then there is no reason to expect the price to go up. Press snooze?

Makes perfect sense. The company and investors agreed to a 10p valuation. As nothing has changed, why would anyone pay more than 10p for the shares? Results are at least 6 or 7 months away.

Guess you'll find out in about 6 or 7 months when the drill results come in.

Clearly no clue how exploration works. They drilled for a viable surface deposit to develop, didn't find it, they walked. The company has changed tack now and is looking for an underground deposit based on a very speculative comparison. Very sketchy. Won't take long to burn through £1.7m once you deduct corporate salaries & costs. Good luck to them.

Great result getting more money in at a high valuation. And these are mostly long investors as they won't be able to trade easily from the US. The challenge now is going to be keeping the valuation up to add value for new investors at this level, given the speculative nature of the exploration proposal. Good luck to the geologists working this out.

Seems unlikely they will expand the footprint any further after years of trying and thousands of metres of drilling without adding a single ounce in resource.

The only opportunity seems to be depth potential which is what they have been pushing since Marian Moroney joined, but this is high exploration risk and no targets have been presented to get investors excited.

Hope they get their 10p funding done, it's a very good price for the company! Seems to be taking longer than planned.

"The Proposed Fundraise is scheduled to close on or around 22 September 2025"

I'm here to help, good to be appreciated.

William Clarke, Mining Journal says:

As Rio Tinto's Diavik mine winds down, and Anglo American prepares to sell De Beers, major miners are getting out of the diamond business, perhaps forever.

The reason is simple. Cheap synthetic stones are flooding the market, pushing the industry into a slump from which many analysts think it will never recover.

But while diversified companies can walk away, some African countries don't have that choice.

Botswana, in particular, has built one of the strongest economies on the continent in part from the revenues of its diamond mines.

So as western investors walk away from diamonds, African governments are stepping in.

Why? Anyone who wants shares can buy them cheaper in the 10p placing.

The clearly stated objective of the Demir JV was to take a project to development ready status. That means advance the open pit project. Step out drilling did not prove up a larger resource (needed for a refractory operation) and drilling other prospects was negative. They had their criteria, they were not met, and they quit.

The company has not publicly produced any deep drill targets - just a concept that it is like Fosterville and will move into free milling gold and higher grades at depth. It's a speculative, long term exploration play. Might work, might not. The company needs to take advantage of this high price, get some money, get the right expertise, get on with it.