Member Info for G_G_G

If there's no news and we're still under 10.75p on Monday then I'm going to pick up a few more. The valuation disconnect here is pretty crazy if they can show the market that +25k oz per quarter is easily achievable.

We're likely to have zero net debt at the moment and using 25k oz production with $1200 AISC we're generating +$17.5m net earnings with Au @ $1900. Both of these numbers are reasonably conservative and we could easily achieve 10-20% improvements on them. Applying the maximum 20% improvements to both figures and you get 30k oz and $1000 AISC, which means we're throwing off $27m net earnings per quarter with Au @ $1900. Easy to see how much of a re-rate could occur with Au sitting near $2k and some stellar Q3 production and AISC. Looking forward to next week already. GLA

nice to get some talk around t/o numbers. i do believe that 20p would be the starting point for a bid. i also believe we're worth more but pretty confident that most shareholders would take the double and run. i'd like to see a bit more strength over the next couple of days so we can get past 11p for a proper attack at 13p should next week's results be as stellar (or better) than q2. from there i think the au price and drill results is what will get us to the magical 16-17p range last reached in july 2021. interestingly the gold price was quite a bit lower at this point. we also didn't have a fully ramped up second mine churning out an annualized 100k low cost oz, or a net cash position. even more interesting is the last bidders were rejected in november 2022 - i wonder if they're going to re-visit this year...? lots to think and talk about. i've seen hum triple recently on nothing other than hope and horse****, so i should think that +50% isn't too much of a stretch with some stellar production, aisc and exploration numbers. only a few days to go now. gla

tony, are you a little salty about the fact that your posts aren't being 'liked' enough? i just went through and gave you a thumbs up for your last few, better now?

as for your pointless response, yes i'm sure the mgt team would like the sp to be higher. the point i'm making is they can't be @ssed doing the legwork to get it higher. they prefer to focus on production (clearly not financials) and think the rest will take care of itself providing they're increasing boepd numbers. this is false and they need to be better on maximizing and forecasting income from our production, and then telling investors about it. i don't have any numbers to hand but have no doubt there are many ****ty aim non-producers with a long track record of failure that have multiples more investors following them versus us. and that's because their mgt do a great job of selling the company. this shouldn't only be for companies looking to raise cash. it should be for every company as you never know when you'll need to tap the market for say an acquisition. panr produces how much? and it's 50% bigger than us, and has been many multiples of our size in the past. 88e anyone...? majid needs to get off his @ss and do this part of his job. he gets paid £600k per year without including all the free / cheap options he has given himself over the years for just doing his job.

as for your other points, when exactly have i said they're not great deal makers? i've been consistent in saying they do a great job here. and they're very good on the operational side of things i.e. generating more boepd. but they're **** at the financials, and they're even worse at promoting the company. therein lies the issue here, because the only way they can 'improve sentiment' (your genius idea) is for them to be better at these massive shortcomings. the market can trust they will deliver the production, just nothing else.

as for the 'they've been doing ok', well if you take away the one great deal they pulled off i'd say the sp suggests they're doing a **** job. we are generating +21k low cost & decline production, with little debt, huge reserves in a safe jursisdiction, strong divi, and poo near $90. and yet our mcap is worth just over £150m whilst our canadian peers have increased in value at different multiples to us. that's f@cking far from 'ok' in my books.

perhaps try being a little more objective and realistic tony. you can be invested in a company and p!ssed off with its performance. and you don't have to give the ceo a rim job when he's not doing his job. it's really not that hard to grasp, unless the company is paying you to keep posting here defending our poor sp performance versus peers all day, every day. cue brain explosion. aimho gla

I forgot to add ex-divi date on the 02nd November. If Au stays above $1900 and we get the same results as Q2 next week we should be sitting in the 12-13p channel running up to the 02nd. Throw in a ceo announcement and some stellar drilling results and we should stay there, or even kick on to 15p with any strengthening in the gold price to $2k. Very hard to see gold weakening in the coming weeks / month with Israel about to invade Gaza. Only catalysts here providing they deliver some more great Q3 production figures. AIMHO GLA

Looks like the start of the climb before results. If there is a seller I would hope the next results will clear them out. From there we have ceo announcement and drilling results to maintain and push the sp higher. I do think it will require another couple of quarters of 100k oz run rate plus Au at $1900 before we get back to 15p. The company and its fundamentals will be simply too good to ignore. I also think it will take a +20p bid to be accepted for a t/o. This of course would still under-value the company, but there needs to be a happy buyer and seller for anything to work. Bidder would do well to get in now before the new ceo gets involved. Always harder to convince a new guy on a great salary to sell up when he has only just started. They should give him a reasonable amount of easy options to ensure he doesn't get in the way of any sale. I worked for a ftse 250 where a bid valuing the company far higher than now was rejected because the ceo was new and claimed it 'fundamentally under-valued the company'. The sp still hasn't gone near the bid price since. That's 7 years ago now. The ceo was new and first time he had run a listed company so didn't want to lose his £1m base salary (not including bonuses) just after he had taken the job. Tragic how individuals can get in the way of everyone else making money. GLA

Genises, I think you need to consider that oil hit $90 the other day and we couldn't hold 14p. What do you think $100 will do exactly...? Maybe 16p...?

Whilst this company is being run by a mgt team with little interest in driving the sp it will continue to languish whilst others appreciate in value. As for my gold company, let's see what happens over the next month. Who knows, I may even use my profit to buy some shares back here. But for now I see the probability of gaining 20% there being much higher than here. And if it does kick off in the middle east then I hardly expect the gold price to be stagnant. GLA

Littledog I was referring to novatwo in my last post so get back in your little kennel.

Tony, so you've suddenly cracked it then - 'improving sentiment'. You're a genius. An absolute genius I say. As for the dividend cut, I'd argue it was one of the main reasons the sp cratered. In the same way the sp value increased each time they increased the dividend. So given we received both value and income (while it lasted) I'd say it was a good idea. The issue is they increased the dividend to a point it wasn't sustainable, not increasing the dividend per se. And the fact it came on the back of other bad news didn't help confidence or trust in the bod. As for getting out at 16p, well I'd like that as well. Not sure it will happen with Majid treating his shareholders like mushrooms though, which hardly something that will 'improve sentiment' now is it. Down to 2.1m shares now. Good thing my gold company is tracking up. Anyone wanting an easy 10-20% (plus 2% dividend) in the coming month should check out SHG. GLA

Christ first we get Louis (Jim) and now we have some anti-vax nutter taking stats and applying their unique way of interpreting them. Tony, are you responsible for bringing this h@lfwit over here as well?

Kkkrrr, the more gold you prove up the more the locals will want to stitch you up, especially the local politicians who are always the worst. Drilling should be put on hold and everything agreed legally before we continue pumping millions into drilling. I'd prefer they use the money to finance the new ball mill at Singida and drill out another 5 years reserves in both our operating mines. Leave it as a stranded asset until the national government deals with the locals.

On the 'seller' side of things, I'm not sure we have one at the moment. The volume here has been incredibly low for the past 3 months with the exception of 3 days where we traded +10m shares. If there is a seller in our midst I'd expect them to be cleared out on the back of Q3 and drilling news. So in the next 2-4 weeks max. I hope they're not intending to provide Q3, Ceo and drilling updates all at once. Always best to spread good news out over the space of 2 weeks. It will provide at least an extra 10% to the sp. AIMHO GLA

i don't believe it's deliberate stas, i just don't think majid gives a **** as evidenced by the fact that he never has attempted to generate any pr. if i were a major i'd be putting out feelers myself to get this off my books for 25p. get two iis indicating they are willing to sell for the right price and the rest falls into place.

Hi Genises, are you saying our major shareholders are buying more? I'm not sure that is the case, but do believe they'd be quite annoyed with the lack of return here given they could have invested in other above average (large cap) Canadian O&G producers and received similar or better returns since building their position in i3e. They also wouldn't have to worry about liquidity and have the option to realize their gains far more easily.

That post now has 77 likes. I might hold a little while longer before forwarding to mgt. I suggest others do the same. This number of likes would probably constitute 5% of shares given the 5 biggest PIs on this board probably represent close to 1% ownership. Quite the indictment on mgt and their lack of effort in realizing value for this company. They should stop trying to buy assets and instead put up the 'for sale' sign for that 25p number that everyone appears to like. No arguments here should we get an offer near that number.

The last post of mine on this thread has 59 likes! Perhaps I should forward to mgt.

SP sinking below 13p with poo at $87. And mgt are saying / doing what exactly...?

I would say it's pretty recent news and a valid reason for the sp weakness over the past week or two. Even though we have zero value for WK in our sp it doesn't stop bad news form pulling us down. Hopefully mgt will provide an update on where things stand with the locals when they release the Q3 ops update. I wouldn't be spending any more money drilling WK until there's clarity on re-location and local support for mining. Otherwise it will be yet another classic African stitch-up.

any back of *** read across here? based on noi read across i see this valuing us in the low 20's. when looking at "p reserves it increases. not sure bonavista's debt profile and tax pools, which could obviously impact valuations.

MrBombastic, not sure how long you've been here? Nature of i3e is we tend to move mainly on good or bad news, although bad news tends to generate the biggest moves. Last bad news was a significant downgrade in NOI and halving of the dividend, which was made worse by them paying quarterly rather than the innovative monthly dividends we were receiving. We've also been under-valued against peers on every metric for many years, and now is no different. Even if poo goes to $90 we'll still only get to the 14's. The only way through this level is the mgt team getting out there and telling the market about what they're planning to do and provide some insight on how much cash we're generating. Regular updates can put a penny or two on the sp and provide the trust and confidence that is lacking here. This of course requires mgt then delivering on those words, which has been a problem over the years. Our mgt team prefer to release official news after most of our peers have reported, which also doesn't help with allaying investor fears.

Having said all this it stands to reason that us being so under-valued provides a better dividend yield (even when halved), and means we won't drop as far when commodity prices weaken (in theory). It also paints a big target on our back, which I'm hoping is the end result. Mgt have proven themselves to be incapable of generating value out of great assets, so put up the for sale sign. I don't think too many people would protest about a 25p t/o offer versus sitting down here for another few years. AIMHO GLA

I think 12-13p range after Q3 results, providing they're like the Q2 results (as expected). Add Au hitting $2k and some great drill results over the next 6 weeks and maybe 15p. If a bid lands then of course 20p minimum. We have a very big target on our backs as evidenced by multiple parties making approaches in the past 12 months. GLA

Sorry guys I think I dragged Bushy over here from the HUM board. I was going to drop £50k there for a trade earlier this week then got into some arguments with the dimwitted long term dreamers on the board about what's the better investment. It basically convinced me to put all of it in here. Have a read if you want a laugh.

Fwiw Bushy is the most dimwitted of the lot. He's been invested there for god knows hw many years calling everything from 5-10 bags when the sp has lost 2/3rds of its value over the past 5 years. I made a trade a couple of years ago and p!ssed off the lths (especially Bushy) when I was telling them to get out before the inevitable bad news lands. Dan Betts is perhaps one of the most under-qualified CEO's in all of Aim, which is saying something. Trust fund baby where daddy gave him Hum to play with and ever since it has been a f@cking disaster zone. The way to make money on HUM is buy around 1 week after actual news (sp decimated), and then sell about 1 week before official news. Can't lose unless you hold on.

Hopefully Bushy will stick around for some fun.

sad loser blackhopper...? not quite. happy winner, just not a happy loser like nearly all lth's here.

bonker, i'm hoping you mean that 'evil can begets evil'. horrendous **** being done by both sides. as has been the case since 1948.

Then you're clearly not a lth Seahorse. As for imagination, I'd say that applies to everyone here extrapolating silly numbers from things that haven't happened (and are under-water). I've given you facts and figures, but do tell me where there's any factual errors in what I've been saying. C'mon do your best dreamer.

Jammin, yes there are points for correctly identifying such opportunities because it means I was right, there just isn't any money to be made :) I'm up 6% on putting that £50k into SHG btw, which is good enough given it isn't risky as f@ck. But the daily and weekly isn't the point now is it. It's where things are in 3, 6, 12 months. If the INVESTMENT thesis here changes then I'll pull money across. But that's some time from now and would mean a break from tradition for this company. The traditions being over-promising and under-delivering.