Member Info for Gallmat

Very simple.

Company has a main asset, a court case for the fair value of a gold deposit. All indications are the claim is worth over 1billion usd. This is indicated in interviews and will be formally announced by end of year.

The claim is very large vs market cap

You need to assess the probability of winning. The key thing here is the company is not paying the litigation costs, a funder does that.

The funded is lcm.l they win over 90pct of the cases they back and spent 1 year on due diligence. Lcm only choose around 15 cases from 500 they review so it is a very good claim in their view.

Honestly that is it. At 20m usd we are priced at maybe 2pct of a 1bn claim value.

Similar companies with court cases are greenex. Their case is 1bn usd and they trade at 90m gbp.

Google vsa capital and panthera and watch some videos

Holy f*&&

I read q and a on investor meet. A CEO is actually giving a timeshare of how his staff spend their time.

Never seen that in 20yrs. If you are doing your job you make a one line statement. The cfo Is responsible for accounts and due diligence. The team evaluate over x companies per month.

A bit sad they talk down LGP saying the industry is challenging. Mind you, after reading the CEO beg for forgiveness I might ignore it

Thanks. I also had a quick look at LGP and it seemed to at least have some catalysts. They however are not great at explaining how the gross margin changes with scale which is sad.

I was kinda baffled at many of the other choices, wondering if seed have the skills to evaluate them or are they just into speculative story stocks.

Thanks for the responses because I actually found a new share that is interesting

Price Is irrelevant I think as no volume.

Everyone is waiting for SOC, my focus is on something that hopefully happens before that.

I will try and ask.

I would also imagine it is ready, and if it is the first document then I would not understand the delay in releasing

Ejt. The next important question is who controls the timetable for release of SOC.

Most likely it is our document as this outlines our position so india cannot delay us ( they have no input). That would be great to know because then we are incontrol of the release of SOC

Plan for the worst ( long term) hope for the best ( settle).

Good weekend to all holders. Don't let the short term dominate :)

Thanks. I know these ones. There is also Montana and equatorial resources ( to feedback).

BTW I asked the ceo why there was so much detail in the bido drilling rns about the extra drilling vs the planned drilling. Short answer was they had to communicate what they did in the extra drilling because it was not explained previously.

Conclusion. Wait for the actual results and do not read much into the RNS

We are not going to settle now that is why NOA went, also if we were going to settle why spin out the assets you would want to invest the money in?

Also taking the timeline below we really are not that far away. Multibagging results can come fast, but often there is alot of waiting and holding your nerve

Good post.

But we should overlay the price was 30 to 40p shortly after the trial for 200 to 300pct gain.

The clever money is to target the trial date. You take no digital risk and only worry about the probability of a trial not probability of winning.

I honestly believe our claim might be larger than greenex but time will tell.

In small companies you have to trust the CEO. I learned this the hard way.

Give an idiot a good idea you get nothing

Give a clever guy something average, he either turns it into something good or looks for a better solution.

Good situations in the hand of idiots is a disaster!

agree ejt.

one thing to add. if the noa slipped it was probably due to legal advice. if drilling slipped it is unfortunate but again if we need to do it to see a spin out what can we do? if the new operators want to see the work done or we want to do it to improve the terms what can you do?

one thing i am impressed with is that the ceo sparked up some interest in our assets even before gold went on a rampage. we have to give it to him, he is really trying and also his compensation package did not take the **** ( which is rare)

Finally has someone realised the CEO Is a peanut. I remember that low ball selling of their development asset ,( filling their poeckets)

Jmuk.

Could you list any interesting companies in similar situations if you follow? Always interested to expand my watch list!

Very balanced JMUK.

Everyone going into this needs to consider dilution, but we also need to view every day that passes as being progress.

If we shoot forward to the future where the trial started, do we think we are still at 20m usd with a 1bn+ claim. I find that nearly impossible to imagine.

At trial I would be amazed if our market cap was less that 60 to 80m usd, we might have issued a few more shares but it won't be crazy.

I also anchor the free options

1. What if we settle

2. What if our claim is huge?.

We have 17years of being messed about. It expropriation is as of that date it is massive accrued interest!

If we choose a late date we are making a claim using a gold price that is very high

can i say what i found positive in the accounts:

1. we raised after the account date so we have cash.

2. we extended our drilling in bido. i expect it is because we saw extra value from it in our spin out

3. the reports show admin expense of 1m. that is not much even if we do need to raise next year.

4. the wording of the report emphasises a pre defined strategy from 17yrs ago and how it implies profitability. i think this opens one avenue

5. the report also highlights an event in 2023 over the 2021 law change. this highlights another expropriation date. if we choose 2023 over 2021 we are valuing with higher gold price

6. india f&^##d around for 17yrs, i expect them to be consistent. the arbitration process will have timeline and dragging things out with no reason will not be viewed positively. especially if you then produce arguments that are bull ****. it seems like we are trying to dot the i's and cross the t's

I think we need this angle on the tribunal.

If pat.l has done our bit and india are dragging I quite like it. Because the view of the tribunal will be India need to keep to schedule!.

A couple of weeks more is not that big a deal. Also why spend cash on a small not so positive RNS.

Sheer.

Some funding requirement was always in my window given the delay in drilling.

What is not clear is adopting the high ground on issuing an accurate SOC amount when it hurts us

The accounts are before the last fund raise was executed

The spin out if it works will cut our administration down to 1m usd a year. The first thing I considered was dilution before investing. My idea was

1. At some point we will need to raise

2. If SOC is large and PR is good we will do it at a higher price

3. I think the inflection point is maybe the trial starting and I think that might be under 2 years so our cash demands are not sky high.

I am not getting carried away with dilution arguments because I think we have significant value to be realised in short term