Member Info for Dibs61

SP staging a good recovery, no doubt on the back of TW's faith and JB's claim of no cash call. Just shows, a handful of shares bought and up over 12%. Well done to the likes of Addy for not bailing at what hopefully was the bottom. I'm still not convinced though. Lost a lot of trust in Mr Blamire so happy just to observe for now.

What must they be thinking? They were buying stock at more than three times the price it is now! I'm sure they must've expressed concerns to Dekel about strategy. a rough calculation of the value of the asset, I come up with approx 50p.

'this year' - too vague. And I will believe it when I see it. JB has made a number of bold pronouncements before and they have not been delivered. Be careful.

If he is changing his tune again (which he maybe) its probably because he realises the Chinese are trying to shaft him with an overly conservative DFS - thereby taking value out of the project and getting the asset on the cheap. I guess this is his way of trying to say they aint gonna get it on the cheap. Over his dead body! No point decrying the past couple of years though. Whats done is done. At the time, when they decided not to go ahead and produce, and instead do the DFS, people came around to the idea that it was actually a better strategy at the time.

Cheers. Yep agree about timescales and event timing - all impossible to predict. A gold price rally could and should help here though. Every $ rise in gold improves the economics. OLI - my view here has always been that they would sell the asset to the Chinese. Anything else is hot air. Dekel has previously said that is their end game. By saying any different now well he's just playing games. No way he wants to try and take a large project like this to production. It was always about extracting value by the issue of DFS and then look to sell.

You get some really wierd price action here sometimes. Totally inexplicable. However my guess is that there is a long term overhang of shares which is being cleared slowly.

Pretty much agree with all your thoughts. This has always remained a good board with sensible balanced posters in good and bad times. You are entitled though to feel fed up! Given that things never seem to happen quickly here I give this a 6-12mth timeframe to yield a decent profit. Btw I made a typo with the MC it's not £23m but a quite astonishing £13m for a company with just shy of 5m ozs of gold.

Raised again. Good posts lukehere. Holding firm.

I've just re-entered here purchasing 57626 @ 4.82p. I reckon buying into the company at a MC of just shy of £23m is good business. As for a few PI's selling? Well who can blame them, they may have waited a long time, seen the announcement and disappointed thrown in the towel. I'm not 100% confident because Dekel does mention the word 'dilution' a few times but this, I hope, is largely baked into the current depressed SP - if it happens at all. Even at this price it's a bit of a punt but IMO worth it.

How can I put this nicely. Nothing like that is going to happen. No way. There are many reasons why not but not least FLX is just too small for them to bother with and a still tiny customer base.

MM's will ultimately take the SP to the point where the demand/supply balance is because that's where they make the most money. You can see that once taken down to 5p a few buyers appeared. There weren't any at 6.5p. IMO it was a false price being shown until today. Don't forget also that this is very illiquid so will suffer exaggerated falls on any selling pressure just as it works in your favour when there's demand. Have you sold out? I've noticed markedly less enthusiasm in your posts.

Yep indeed and my forecast placing price back in Nov was 4 to 5p. Could even be less. Will look at this again once it's out the way. I do feel the loss of Karl Barclay is a blow for FLX as he would have a lot of contacts and credibility in the market. I can't understand why he chose to retire at exactly the time JB was claiming an 'inflection point' for the company. If I was in his boots I'd be excited by the prospect and stick around for another year or two. The new guy - hmmmm jury out. So there are question marks both financially and speed/scale of progress.

Since 2012 Amara’s resources at the Yaoure Gold Project have grown from 0.2Moz to 7.3Moz, making it the largest undeveloped gold resource in West Africa. Combined with Baomahun’s resources, Amara has total resources of over 10 million ounces. Amara also has the largest resource base of any London-listed junior gold miner. 10.1m ozs total mineral resource

Definitely some nibbling going on here this morning but it really should be gorging on this feast of gold.

This will surely follow.

The last time the gold price was at this mornings level - $1144 - the Amara SP was 9.5p. It's now standing 2p lower. No reason for this other than investor apathy. Superb superb opportunity to get in at THE bottom. Huge gold resource sitting here which won't burn away unlike most aim companies cash.

Good morning All, what do you know about Mark Creaseys connection to GMSI's drilling operation at Jonnagiri. My research has revealed he is a Consulting Technical Advisor for Decca Gold Mines as well as a shareholder.

Yesterday's financing for the underground mining operation at Luika - No Dilution - short term loan instead a further endorsement of companies cash flow.

I didn't know it. But I do now.

MC now £980k - still a long way short of total current assets = circa £3.5k. The company has NO debt. Once the Jonnagiri news has upgraded the gold resource that asset figure will rise further. Companies do occasionally trade below their book value but this is something like a quarter of book value. So as Timeless and the other guys have also pointed out this is one where the market has got it drastically wrong and the undervaluation at some point will be rebalanced - it has to be. What's the worst that could happen? The company discharges its assets and that money is returned to shareholders. The company could become a cash shell and be subject to a reverse takeover. The story here is far from over and at @ .50 p this was priced to go bust. My own view is that the company will go on and get further investment at some point. Far worse run companies that I could name have survived than this one!! At some stage this will mean dilution but before then the SP will've appreciated sharply from here. A Gold price rally - at some point - will also help this to to be elevated back above water.