Member Info for G_G_G

Quite happy I pulled out of this when I did. Reckon I made about 20% profit selling between 400-450p. I've got cash sitting aside in case the numbers are great and I can make a quick 10-15% on any jump. If the numbers are bad then who knows where this will go. At least MA will increase his holding to 17% with his options, which means the top 3 holders will own over half the company. That will certainly make things interesting. GLA

Reckon we'll be back at 13p after they release the Q3 results. We should also have had some drilling results by then. And hopefully a new ceo announcement as well. I'm excited to see what happens in the next 6 weeks and beyond. Hard to believe there isn't a mid-size to major company sizing us up right now. We're a +100k oz, low cost, mutli-mine bolt-on with the ability to double production in less than 5 years. Reckon a bid of 20p would be enough, which effectively pays for itself in less than 4 years without any extra production from Singida or value ascribed to WK. Crazy valuation.

HarChris & others, have they provided any guidance on when the production expansion in Singida will be signed off and up and running?

also i have sold down as mentioned previously, thankfully at a higher level than now. i now hold 3.1m shares here.

fwiw i hold around 3.3m shares in a gold miner called shanta @ 10p average - share tip for those who are interested. it is my only other major position at the moment. this company is also highly under-valued but the primary reason is because odey had to liquidate its entire holding and the sp hasn't fully recovered yet. they're also at final interview stages for a new ceo. the current ceo (who has been superb), is staying on until his replacement has his feet under the table. so great mgt. funnily enough i made my first 6 figure profit from hzm when woodford had to liquidate their position in a number of small caps. this is a similar situation although shg is a far better investment opportunity. so anyone after a 25-50% return over the next 3 months should check it out. and if you believe gold is going to go higher then the return in 12 months is an easy double.

key facts:

- £105m mcap.

- producing 100k oz at low aisc from 2 x mines. one mine is new and ramped up to nameplate capacity in june without any issues.

- they are throwing off +$15m cash every quarter.

- about to pull the trigger on a $10-15m investment that will unlock a further 25k oz per annum.

- zero net debt.

- currently drilling three tenements (their two mining sites plus one exploration). they have more than replaced all oz mined every year with drilling.

- the exploration site is the highest grade +1m oz defined resource in all of africa. they expect to build the resource to at least a 3m oz.

- they pay a 2% divi that will most probably double (or more) in the next few months.

- they also have vat receivables worth +$20m not carried on the books as a current asset. this has started being offset against tax liabilities.

- they release their q3 results in 4 weeks (reliably on time). we already know these are going to be great from a recent interview done by the ceo.

- one last thing is they've had multiple approaches that were rebuffed in the past 12 months. fair value is more than double the current sp and i'd expect another approach to land soon after the exploration drilling is completed. some majors have just entered tanz and this is an absolute gift bolt-on to their african assets. if i3e gets a decent leg up to 15p and shg is still below 11p then i'll sell down another 1.1m shares here and buy more over there.

but of course dyor. they released h1 results this week so there's a good place to start reading up. and an interview with proactive a couple of weeks ago gives a great overview. anyone who wants to chat about shg then head over to the board. good posters. and no louis type ****s.

Tony, as I keep saying the amount of money that I have made (not 2.5x) doesn't change the fact we are under-valued versus peers. That is the only measure that matters. But please share with us your wisdom on why are we so under-valued? And while you're at it, who is responsible for fixing our valuation gap?

How much patience is necessary here? I think we've been saying that for years, and have always been under-valued versus peers. It's probably the worst period right now and what is being done to address this? The bod cannot be relied on to do any PR for the company. They cannot even be relied on to get production and financial updates to the market at the same time as our peer group. I'd rather they use their 'great deal making skills' to sell the company, because they're clearly incapable of delivering fair value to their shareholders. And drilling a few more wells with all the cash we're throwing off (and not providing the market with any details) isn't going to change things. We'll likely generate $100m NOI this year, which is roughly 2x our current Mcap!!! The sp is an embarrassment.

Agree they should increase the divi. It's an absolute pittance versus what they are currently generating. I'd prefer for them to go quarterly and commit to a yield of 4-6% at current sp. Easily managed and to be honest there's only so much more they can spend on drilling plus the extra capex to increase production, which is only $10-15m. In 6-9 months they will generate enough cash to double the divi, invest $12.5m to increase production by 25k oz per annum, and drill all three tenements over the course of 2024. The remainder can be used to build a cash pile for WK, which all going well could start mine build in H2 2025. Lots of things they can do but paying their shareholders a better income while the going is good should be a given. AIMHO GLA

If not posted already. Says it all.

https://www.investorschronicle.co.uk/news/2023/09/20/earnings-beat-from-new-shanta-gold-mine/

Bugger I just saw someone called 'genises'. Would have been a classic call for Louis.

Louis, it's 'geniuses'. Says it all really.

Kipperfoot I think you're suffering from Kipperbrain. Take a rest and come back in 6 weeks. You'll then see us another 15-20% higher with Q3 and drilling results. With this 'new' news I imagine we'll then be in the 12-13p range. This rns tells a lot of us a lot of what we already know, which were some brilliant results. I think there'll be some weakness over the next 4 weeks to the 10-10.5p range but expect us to build again in anticipation of the Q3 update. Great drilling results in the meantime will of course change this scenario.

As for AIM, it's not so much the market as it is the UK economy. The economy is an absolute f@cking joke and the valuations on all indexes here are testament to that fact. If you want to double the sp overnight then delist and move to Canada or Australia. Alternatively we'll need to be taken out. We're probably the best t/o target in all of Africa right now. Net cash positive and throwing off +$15m per quarter. Two low-cost mines producing +100k oz with scope to improve a further 20-25k from just USD10-15m investment. This would take us to generating USD$20m per quarter. Plus a huge opportunity in WK. A bid of 20p would probably be successful and would represent fantastic value for the acquirer. Fair value I'd put at 25p at the moment. AIMHO GLA

I'll be absolutely amazed if we don't break 52 week highs (13.5p) after the H1, Q3 and drilling updates due in the next 6 weeks. I had my last buy order in today for 150k at 10.4p. Don't think I'm going to get it but pretty happy with my 2.85m shares. Average is a touch under 10p. I'm holding for a t/o at +20p. Also agree they should raise the dividend to 4%. It's peanuts versus the cash we're throwing off and shareholders deserve to see some income return whilst they wait for all other value drivers to kick in. They can still pay for the mine expansion plus drill the hell out of all our tenements over the next 6 months and be net cash +ve. All three things - divi, drilling and production expansion - will increase the sp so they should get the ball rolling on all of them. Exciting times. AIMHO GLA

The value here is ridiculous. We're valued at less 2 x EBITDA. And will most likely be in a net cash position when the quarterly update is released next week. Straight up mind boggling valuation. Anyway I picked up another 250k yesterday and today for an average of 9.8p. Would be rude not to. GLA

I would have to go with a worked sell on that one. Just on normal day-to-day trading volumes it would take the best part of a week to shift. You'll know in the next two days by the direction of travel of the sp. If it moves back up to the 10.20-10.5p range then it's a sell. GLA

I just picked up 100k at 12.59p. POO $87.5. Says it all really.

Canuck, what are you referring to about 20% over-hang?

Blabla, it's simply frustration at a move by mgt that was completely unnecessary. They could have waited and posted the interims date once. Instead they moved it (backwards), which may be nothing in reality, but market perception is what matters the most in times like now. Complete amateur hour stuff and has worsened our mini correction.

I agree Knowbody the bots are having a field day here. This stock only needs a sniff of news - most recently shorts increasing, interims being pushed back - and they kick into gear. The same can be said about movements the other way as well. I expect if we get some +ve news on the macro / retail front we'll start to climb upwards again. I don't expect to see any more major holdings changes but we may get one last buy from MA. And of course there's a potential bid in the next week, but I see that as being least likely. GLA

That's good to hear Tony. I'm still waiting for someone to comment on my post the other day about making an acquisition in cash( debt) and stock. If we picked up a USD$100m acquisition and financed 60% debt and 40% cash we'd be looking at another 20% shares in issue. The good thing however is they would be given to Canadian shareholders. I'm in agreement that one of the reasons we are under-valued is because we are listed on a basket case exchange here in the UK. By adding a a much larger Canadian shareholder base I would hope that we can close most of the valuation gap with peers alongside growing our production / revenue profile. Even better is to offer the shares to Nuttall's fund. Three birds with one stone in my eyes.

Whatever happens with any acquisition they will need to get off their @sses and promote the newly formed company. And by that I mean not just speaking to Proactive. This will probably be the hardest thing for them to do given past performance.

Share price should be a sense of shame for mgt. To have poo near $90, throwing off USD100m NOI and be valued at less than 2x is a f@cking embarrassment. Close the gap or put up the 'for sale' sign. A hostile bid would be successful in the low 20's imo. I don't think the funds will say no as they're getting f'all by way of a dividend, and they can cash out and stick their money into any number of under-valued companies across the lse or tsx. There's surely someone running the rule over us now. PE backed I think are the most likely predator. AIMHO GLA

Jesus this just keeps dropping. It will be over a week of continued selling and yet nothing has changed in that time other than short levels. I'm also absolutely sick of amateurish mgt teams. Who the f@ck delays their trading statement when the market is on edge about how they're performing. Absolute clowns to do such a thing. There's literally no way to spin it as a positive unless there's a bid in play. F@cking idiots.

tony, i think many on here appreciate your research (as do i), but you're coming across as quite the **** in your recent posting. the lack of pr effort by the bod is well accepted by most people on this board, and has been the case for years. and your view of one interview with proactive being sufficient to get us on investor radars after the recent results isn't widely supported. you know it's ok to be critical of mgt right? as for my other suggestions, what are your views on this?

I agree Jezzoo. The concern I have with us making any acquisition is they'll dilute us to oblivion at these low prices and then hand themselves £m's in cheap shares again. If they're unwilling to fix the disconnect then let someone else do it by acquiring us. I note WTI is pushing toward $90 now and we're still struggling to stay above 13p!!!