Member Info for G_G_G

That's great Jolly, really happy you jumped in here. Good luck (although I don't think we're going to need it).

One of the best things here is we're going to have great news rolling in every month for the next 12 months if they keep drilling hard across the tenements. Just looking at what we know we'll get before the end of 2024:

- 4 x quarterly, half-yearly and full year results

- Reserves report (February)

- VAT update(s) and decision (end 2024)

- WK ML

- Additional Tanz license update & decision

- New CEO

- EXPLORATION x ???

There's at least one major news item every month. With a significant amount of drilling I'd say we could expect an update of some sort at least every 3 weeks starting from now. GLA

Oh LittleDog is back. I thought you dropped this handle Tony...? Re-read my post about EV:NOI as the only means to compare. You should know this given you've said it many times before.

Sell is now in single digits. What a clusterf@ck.

Knowing mgt missteps I wouldn't be surprised if they halve the divi again and move it to half yearly payments. And then they'll probably do no interviews and award themselves some more options or do something ret@rded with the Nth Sea. God knows what they're thinking at the moment.

The recent LTIP rns broke the back of the sp. Hopefully major shareholders are banging their fists on their desks at mgt for a sale right now. Even the heavyweights haven't got great returns given what has been achieved from a production standpoint. One also needs to keep in mind commodity prices are far higher than when they stumped up cash years ago. JPM is sitting on a loss. What a mess.

No worries Jolly. Did you get in when I was posting at 10p or more recently?

Wish I sold down everything in i3e 6 weeks ago. I was so close to doing it but kept thinking it's going to get taken out. Reckon this has a higher chance of that happening given the ridiculous number of value drivers here. Publican has outlined my thoughts on the likely predator in his last post. Can't wait to see some more exploration results.

All good points Tony, but this would affect every company in Canada. As you've said previously the only measure to understand our value disconnect is looking at our EV:NOI multiples versus Canadian peers. Do you know if Shubham has done this recently? I imagine the comparison is looking very ugly given our multiple would be around 2 at the moment.

SP is a disaster. I take Stas's point about volume and it appearing to be PIs selling, but surely people aren't going to be selling at a loss when the financials are quite sound. The only reasons I can think off would be a complete lack of confidence in mgt and selling in protest to that !diotic LTIP / Bonus rns. Or the fact there's no defined value drivers over the next 3 months other than capital allocation / dividend announcement for 2025 and Q4 results. Perhaps traders recognizing this fact and deciding to put their money elsewhere rather than betting on an asset sale. They're clearly not betting on mgt doing anything to promote the company. Nth Sea is a potential driver if we team up with Serica in a meaningful way. But I imagine that will only add a few pennies. Sale is the only way to get us anywhere near 20p. Mgt need to wake up and do the right thing by shareholders by putting up the 'for sale' sign.

I've been comparing i3e to my other major small cap holding - here's the most recent update. If I sell up everything in SHG and buy back here I'll now have 7.25m shares (versus 4.75m if I had held i3e and not sold down to 2m). Whilst i3e has lost 25% in the last month or so SHG has gained 20%. Their EV:EBITDA/NOI multiples are virtually the same now. Biggest difference is mgt's commitment to driving value for shareholders. Keep in mind i3e is a far 'safer' bet given geography, commodity mix, and production diversification / number of wells. And it's now paying close to a 10% annual dividend yield. Says a lot about Majid and the mgt team.

Looks to me that once 12p goes it's a clear run to 13.5p - is that correct chartists? After that it's relatively blue-sky. Just needs a big piece of news to get us over those first speed bumps. Reckon some 'bonanza' grades at WK combined wiht Au above $2000 should do it. GLA

Some solid buying here today. Just off a top 3 volume day over the last 3 months. Hopefully they're going to drop some exploration results in the mix soon. How in god's name are we not attracting a buyer at this price. The numbers are plain silly at the moment.

Haha, or they could issue another 1bn shares at 10p and then award themselves 50m options at the same price for having done a deal.

holy ****! au now trading at $2005! the value here will be straight up silly if au ends up going on another bull run over the next 2 years, which is my expectation given the direction of interest rates and debt levels. we're going to get bought out in the next 12 months. the big questions are when, and for how much...

Publican, well done on playing the traders in hzm. It was due a mini boiler-room move after consolidating at those crazy levels. I was thinking of gambling some cash over there but thought better of it. PIs are going to get wiped out. There's no other way given hzm's circumstances. It's another Sirius.

Funnily enough I made my first big investment win on hzm (about £200k from memory), which happened after Woodforde sold down across all its AIM investments. It's the exact same thing that has happened here with Odey, except this is a proper company throwing off significant cash, no net debt, and with huge production and exploration upside. Won't be long before we see 15p again with Au staying above $1900. Another month of this and we're looking at an all-time record quarterly EBITDA. T/o is another obvious thing to expect. GLA

of course it benefits me stas. it also benefits others if they do their own research and find it's a solid investment. no different to me promoting i3e on other boards btw.

as for trashing here, i think you'll find i've been consistent on the negatives and positives in this company for years. the sp is dog**** - do you expect me to praise mgt when i feel they could do more form a pr perspective and have said as much in this area for years? should i praise them for not doing any interview after the last quarterly rns, which happened to be the first in sometime where there was good news and no bad news? or for dropping an ltip and awards rns when the sp has been gutted and they couldn't be bothered waiting for some good news announcement or even until the over-due capital reduction rns? you go ahead and be positive when our peer multiples are a joke. i'll stick to saying what i feel based on the sp, and mgt actions / inactions.

as for buying back here, not until shg finishes its re-rate. and even then it will only be 500k- 1m and i'll keep the majority of cash in shg given it's equally under-valued but mgt cares about that disconnect and is trying to fix it. there's also reasons for the under-valuation that have been out of their control, unlike here. the investment thesis here is based solely on the rock bottom valuation of the company on every metric so there's a limited downside. the real upside will only come from a partial / full sale.

I noted the same thing Pacifico. A major next door would no doubt look to increase its stake in the wider area if it looks as though there's a multi-million oz resource. The fact it's Barrick is even better given their familiarity with WK.

This company is set-up for a double in the next 12 months. What will happen by end of 2024:

- Producing 110k oz per year @ $1200 (or less)

- Added at least 1m oz resources and continuing to increase by a similar amount in 2025

- Finalising Sing production upgrade for another 30k oz production (cost less than $10m)

- Have $40-50m net cash position providing Au stays above $1900

- With all above (Au +$1900 / AISC $1200) the end 2024 EV:EBITDA ratio will be roughly 2.6 @ 20p. For end 2025 the EV:EBITDA ration will be 1.3 @ 20p (140k oz production / AISC $1200 / Au +$1900).

Then there's what could happen by the end of next year:

- Proven Sing to be one major deposit

- Secured the ML at WK for the highest grade +1m oz mine in Africa

- Added the near mine resource awarded from Tanz government

- Received back $30m in VAT (or via tax offsets) = 2.5p

- Au price averaging +$2000

With Au averaging +$1900 we have:

- Certain +18p with upside to 25p by end 2024. T/o value in next 6 months = 20-25p value.

- Certain 25p with upside to 30p by end 2025. T/o value in 12 months = 30p value.

Looks like we could be starting a re-rate. About time really. AIMHO GLA

yeah i think when a poster with a decent track record of investing makes a rec. on a board that i visit regularly then i pretty much always take a look myself (and appreciate the short-cut to finding something decent). i did this with a couple of stocks tony pointed out not that long ago. i'd also argue that many people would appreciate hearing about a grossly under-valued stock, throwing off a **** ton of cash (around 60% mkt cap), net cash position, with significant near production upside, and huge exploration potential. oh and with a mgt team who get out and push the company and have 'skin in the game' where they've bought shares and not just awarded them to each other.

for reference, if posters here had looked into shg and bought when i first flagged they'd be close to 15% up, versus 20% down here. share prices when posted i3e was 13p (now 10.35p) and shg 9.9p (now 11.25p). you're welcome anyone who took a look and made their mind up to invest. you can ignore as you see fit stas.

I love how Eric promotes SHG, even when he's leaving. Fantastic CEO. Fantastic company.

3LB I've still got 2m shares, unfortunately. I sold down a significant chunk between 18-20p and then my last 500k or so more recently between 13-14p. Total sold of 2.75m. All of it now sitting in SHG (4.5m shares) after a loss and win in between. Only reason I'm holding is we're so low it makes no sense to sell at the moment. And I have a feeling we're on the menu of a bigger entity. Hopefully a sale near 20p and we can all move on. SP is absolutely f@cking diabolical. GLA

What a shock, poo is recovering and i3e still sitting near record lows across most financial metrics. Good thing Majid is out there doing everything he can to promote the company. SELL UP MAJID!!!

Those 2 x 350k sells certainly didn't help. At some point in the near future we're going to get enough pressure to clear this f@cking seller. Hopefully some of the divi payments will be reinvested, which in itself should take us back to the 11's. Otherwise we'll need to wait for the exploration results. Hopefully their timelines aren't like most Aim companies where Q4 ends up being Q1 etc.

At the very least we have WK (2nd batch), NL, 2024 guidance / plans, and Q1 results in the next 9 weeks. I have a feeling that Sing will take a bit longer. Hopefully not too long as it would be good to have those results rolled into the reserves report in February / March. As mentioned I'd like to see them throw around $25m at exploration in 2024 and drill the @ss out of Sing and NL. I don't think WK should be the priority. That's not to say they shouldn't keep proving up the resources. It's just the real value to the sp will come from near mine ounces being added plus expanded production. GLA

No need to get your knickers in a twist Tony. Is the sp starting to get to you?

As for what I'm posting, I'm simply stating my view on mgt. This is an investor forum right? And because I don't believe my views will have any impact on the share price I feel quite comfortable in letting investors know what I think, rather than being duplicitous in what I post. And fwiw I've not always been negative on mgt, and have never been negative on their ops or deal-making capabilities (just the way they structured those deals). But I have been consistent in my views on the lack of PI updates and PR ever since Graham left the business. And the fact they love to look after themselves with cheap and easy options. And guess what, those things are f@cking the sp right now. So who's spreading lies, misinformation and confusing the definition of being 'factual' here Tony?

You really do make it easy to pull apart your arguments Tnord, Littledog, Tony.

Tony, my ability to push the price down here is as limited as your ability to push the price up with your constant support of mgt. And given what's happening with the sp I have to ask what's going on in your tiny head to think that mgt are doing everything they can to preserve your (our) wealth? Especially when we're undervalued versus the average Canadian peer on financial and reserves multiples by 50-100%.

As for my gold stock - it's really starting to pull away now. Conversion back now equals 6.75m shares. Quite something the under-valuation here. So much so that it's starting to get a stench about it (cue childish Tony stench comment).