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@deck, something along these lines as a rough and ready calculation:
Lower, confirmed JORC resource of 1.74MOz
Gold in the ground value of $100/oz (5% of market value of gold/oz approx)
Value in the ground = $174M
Shares in issue 171M
Value/share $1.02 (80p, or 16 bags from current sp)
Same calcs for non-JORC 6.7MOz resource gives $3.92/share value (£3.07, or 60x current sp)
If you swap out the 'in ground' value of $100/Oz with market rate of approx. $2000/Oz, you can multiply the above numbers by another 20x.
In short, PAT is due a re-rate.
Yep, about 100m - I read on here that amount of drilling would be about right to recommission the broken part, but I'm no expert.
It'll be interesting to see if target depth is again revised, or if the seal will be perforated this time. We'll find out soon enough.
I think that Lorna is very aware of how rampy her predecessor was, and is trying to strike a more measured, cautious tone this time around. However, I watched the interview again, and agree that there were flickers of emotion at certain points when the helium shows were discussed. I'm also aware of my own conscious bias though.
We will see soon enough!
As we're doing tips, Panthera Resources (PAT) is worth a look. About to take the Indian Govt to arbitration under Australia-India Bilateral Investment Treaty. Legally fully funded, Faskens acting for Panthera. At some point in the next few weeks, Panthera is going to RNS the start of the proceedings against the Indian Govt and signal the amount they are looking at.
Allenby (broker) suggest this will resettle the sp at around 90% discount from the proposed award, and this is based on precedent with other companies who have gone through the process. Proposed award will be anything between 500m and 2bn, suggesting the sp is expected to settle between 32p and £1.28 while going through the process (current sp 6.5p).
Do your own research, usual caveats, etc.
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@Lawrence, I'd be highly surprised if we were negotiating an out of court settlement. The BIT case isn't complete yet, and I wouldn't be surprised if Panthera waited until after Bhukia's auction to come up with a final arbitration figure.
@Prof, you said that Mark is coming to the UK mid-month - do you have any further details on this please?
It's immaterial now - the court has decided that Panthera has no right to the asset, and given our current Mcap Panthera couldn't be a credible JV partner unless it receives its payout/arbitration claim prior to Bhukia's auction (highly unlikely IMHO).
@Prof, thanks for this. Have you spoken with Mark to confirm?
Regarding the deleted post on the thread about 'exciting times ahead' - yes, there are several, diverse catalysts for growth that we know are in the pipeline. We just want to know when.
It seems pretty clear to me that the speculation and squabbles on the board are symptoms of investors being in the dark at present.
I'm disappointed that we haven't heard from Mark since the court decision a week ago and the financial performance results on Monday.
Likewise, the last Corporate Presentation was in May last year. The timescales and actions within that presentation went to the end of 2022 - we're now in Q4 2023.
All of these directly impact the future direction and investor case for the business. I would like clarity from Mark on what's next for Panthera, and the corresponding timescales, sooner rather than later. Come on Mark, throw us a bone!
I say this with my tongue planted firmly in my cheek:
Panthera submit the winning bid for Bhukia, hand over the BIT claim instead of payment and everyone calls it a job well done.
In all seriousness though, I agree Shear. I suspect that some of the ground work for the BIT claim has already been done over August/September, and the auction will help to inform the compensation claim amount.