Member Info for Dibs61

10/11p on Acquisition of Telfer/Havieron licences

Should be next week

There’s some confidence.

Looks like recent retrace has bottomed out and market will now be anticipating the big news on licence option take up + news on prospectivity.

Yet another set of poor results. More losses. More excuses. Blaming on Covid when the results are for year ended 31March. Covid had barely got going!

Just by way of a simple comparison:

GGP MC £914m
WSBN MC £7.6m

Now of course it has to be pointed out that GGP has made what appears to be a major discovery at Havieron.
And WSBN hasn’t found anything yet. Indeed they haven’t even secured the licensing option yet.

But what it does demonstrate is the huge upside potential even if WSBN find a fraction of the deposit that it seems GGP will hold.

Very very easily can multibag from this level on a sniff of a Havieron and/or Telfer extension. Three tantalisingly close license areas.

Added a further 10,341 shares @ 115.95 which the mms have chosen not to print yet.

Very pleased with this additional purchase which will look quite cheap in the not too distant future.

Yes def responding to the Havieron effect.

Licence option has to be up within next three weeks. Not long now.

Benny thank your lucky stars this is still so overvalued giving you the opportunity to exit still at a good price. Don’t say you weren’t warned. Absolutely NO guarantee here of large orders from this rotten government.

As for sales up 20% up in October. What’s 20% of a couple o million or so. They need 200% 500% from their tiny sales figures to even begin to justify a £135m MC.

Russky - are you seriously trying to compare ODX to Tesla?? LMAO. omg there is some serious self delusion going on here.

No they’re making practically f*ck all compared to a MC of £135m. That’s the problem. There is so much Jam tomorrow crammed into the price.

Fair value on current sales is 30p and even that is being very generous in terms of a EV/Sales ratio.

They need some serious large longer term orders or the SP will sink from here. Capacity is all very well and good but the orders are needed now. It wasn’t hard to predict such a disappointing trading update. It was exactly what I expected.

Substantially overvalued unless AND until serious orders begin to materialise. They currently have less than 200,000 tests allotted. Capacity will be 300,000 per week by end November (apparently). So they will fill this order in less than a week. Then they are standing around twiddling their thumbs. Those orders need to come in quick.

Eck - we’re definitely seeing an overhang being cleared from the placing. Clearly a few short sighted participants who wanted to flip for a paltry 10%. Oh well each to their own.

I’ll be sticking around for the Serious returns.

Phoebus sorry I forgot to include WSBN. I’ve a decent holding there too and, as you say, very much in GGP territory as well as NCM and RIO of course!

Hi Phoebus,

Yes i was in Dalradian Resources too a few years back. OMI looks v interesting as does Thor, Cobra, Ariana less so, GGP despite meteoric rise still has plenty left, but my favourite is SGZ - very overlooked and also on the Dalradian belt and becoming a producer next month. Got quite a few in SGZ. I much prefer safe geopolitical situations, safe mining friendly jurisdictions.

Hi Phoebus, I monitor most (I think) of the AIM goldies. Some I’ve checked out more than others. But this one ticks all the boxes and is my top choice without doubt. It really could be the next GGP and I know that’s a big call. The only question mark is how quickly can AAZ get cracking and rattle through the phase 1 drilling programme. Because by the end of that we could easily be £1.50/£2.00

Hi Banarama, yes the price here currently is a gift. I simply don’t know how you could now not recognise the mammoth potential here. I agree that historically there has been, let’s say, poor sentiment here. But things are changing. Quickly.

I believe there isn’t another gold exploration/development stock on the AIM that matches this for upside potential.

£10m MC and they already have a JORC resource of 517,000 ozs and that is barely scratching the surface (literally) of the likely deposit here. It will be a major major gold find in time. No wonder the good Prof has such a huge grin on his face!

OK that’s enough ‘ramping’ from me for one day. I’m aiming to get up to half a million shares here and never going to achieve that if I keep shouting it too loud from the rooftops!

DYOR
GLA

What do we make of this? Presumably it’s encouraging?

The three 7k buys this afternoon were all by me and I will be continuing to accumulate at these levels. In fact the more SP weakness the better for me so take it down MM’s by all means if you like as you are going to be buying back from me for a lot more money I assure you!

My partner for this years ‘Strictly Come Buying’ is Conroy Gold. I’ve been researching for weeks and am now ready to take to the buying floor. In fact I’ve already had a few little flirtations but now the buying at these levels gets serious.

Keeeeep Buying!

The more I look at this the more I like it. The JV with AAZ is essentially a Farm In just like Newcrest have done with GGP (albeit a larger one).

The JV gives Conroy a completely free carry on the planned Phase 1 exploration programme at Clontibret. At least €2m will be spent by AAZ on Phase 1 alone which is 20% of CGNR’s current market valuation.

All this means no more concerns about substantial shareholder dilution here.

The exploration upside here is significant and the programme will be extensive. Current MC just under £10m and keep in mind the company already has a 500k ozs JORC resource at Clontibret alone.

IMHO a strong buy at this level plenty of upside and awaiting official confirmation of AAZ JV.

As always DYOR.

Topped up again at these bargain basement prices.