Member Info for Gallmat

Prof. Did you speak to MB in the end?

A link that might be helpful is noted below

https://brill.com/view/journals/nord/90/2/article-p190_190.xml.

It is hard to know if it even applies but it gives the idea this might not be as simple as looking at market cap of similar companies say in 2011 and applying accrued interest.

We might need to use more complex scenarios

There are always articles saying gold will double, mainly to get clicks. All valuations would use forward curves which will be around spot.

Google. Chorzów standard.

From a casual reading your valuation is based on the assumption we were never blocked i.e we were given license, explored and built a mine.

If this can apply, yes our compensation would be looking at profits from a working mine and would consider current gold prices.

The reality is they have multiple violations of clauses at different time. They need to choose arguments that maximise the Expected Value (Size of claim × probability of winning). Size of claim each time being a function of resource size at each time and compensation method implied by argument used.

As a shareholder who will sell out before the decision i am not aligned with the EV. I just want a big claim size even if it implies a much lower probability of success.

The claim size will drive the share price. The pr of success will be known on the end when i will have sold. The reality is imvestors cannot asses the pr of success no matter our argument so they will use something like 15pct no matter what argument we use.

Deck,

I am hardly looking at the stock now.

The only news i am interested in is kalaka drilling. If that replicates historical drilling hopefully the spin out is on.

Ejt.

The NOA is just a bit of a non event. It really signalled no deal in short term.

Everyone knows we will wait for claim amount in a few months and many people who trade rather than invest will use their capital elsewhere for few months.

I never expected NOA to be huge

Management is sole issue here.

Missing financial statements twice. Also looks like you lost payment details. Schoolboy stuff.

If u cannot do basics nobody will lend u cash

IMO the claim amount will come out when we are required to give it, so i would not expect it fast or due to momentum.

The ceo told me it is released when it is optimal, if the lawyers want it released at certain time that is what will matter here.

The ceo will not release it to boost the sentiment, he will release it when it is optimal for our position. He pretty much told me it mqy not fit my timeline but as a good CEO he has to do what is optimal for the claim.

Everyone can play the price spike sell game.

Probably you make 15pct quite easily but you might miss the bigger amount.

I am concinced MB, who was a lecturer in mining valuation and used to value mines for a living has a pretty good idea on what Bhulia is worth.

He could probably do it himeslf given a few weeks.

Volume. I sais this would happen. This is a microcap.

Volume will come when new news hits. The claim amount.

If this is big, it will be more derisked and new money will flow.

This has to be a longer term hold. News will only come npw and then and volume will come and go

The most interesting thing will be statement of claim by year end. The valiation really is up in their air. I think it is fair to say we expect over 1bn usd but the actual size is unknown.

I discussed this for 30min with MB. There are many options, we can make claims on multiple clauses and each have different dates.

It is not as simple as looking at 1 event, luckily we can use many scenarios

Magoo

Their research is very low quality.

1. Using circa 6m oz mine in calc when GOI said 8moz equivalent. Company has said it is 10m to 20m oz many times.

2. They also ignore all the positive comments on valuation. In rns they note 1bn mentioned in press, the recent auction also showed value.

3. Similar mining arbitration cases indeed have traded to 15 to 20pct implied probability.

They see high value but they are taking conservative approach

If you just want to confirm the 90%+ win rate that is easy. Google litigation capital management. Go to their investors section

They normally put it in every presentation.

Lcm do not list each past case. Sometimes they mention the odd case by name. I followed them for 5yrs

I aim to feedback actively on released presentations. Currently working on a write up for a micro cap investment club. They review your work and if they like it give you free membership. I will see if they like my work on PAT. Need to do what we can right!

Moderate growth for what should be a unique solution.

Markets wants to see more adoption clearly. Good one for watch list

20p is exercise price ( what he pays). In reality he will make case because the share prive might be 50p+. Making 30p on 1m shares. 300k...not bad

Statement of claim is set for end of the year. Timeline in presentation.

I highkighted few things in email to ceo.

1. We should higlighlight his share holding ( he had nearly 1 pct in latest research

2. He has settled 3/3 arbitrations

3. They do not mention multiple litigation funders were imterested not lcm

4. Adding lcm cases like indiana which was just won is a missed opportunity.

5. We should see price graphs of indiana and greenex that show price on one axis and the market cap/ claim size on other so we can see how implied probability changes over time, while also flagging key tribunal events such as announcing claim amount, final hearing etc

Ceo compensation plan is fine for me. If he pulls this off then we are all minted. He should also make a boat load only fair.

Btw, i was told there is a new presentation on web

Already vommented on in latest results release. The deal with moic>8×

Simply a long term hold now. Time to swifch off

actually totally ****e methodology. average of random selection of companies.

why not include greatland gold and de grey who actual have very large globally significant mines which might be comparable. de grey trading at 1.4 billion gbp. 8m oz with another 4moz inferred. all at lower grade than us, nope lets assume a 6moz mine when company believes even 8moz is under

estimate

just lazy work as usual.