Member Info for Genghis15

All that bunsen says is correct, ..but..."Alex has said " things b4. I'm sure he believes it, but early explorationis risky. Not just (or even mostly) geologically, but financially. If all goes well here majors could be queuing up, as long as macro doesn't interfere, economically. politically, or whatever. But never be sure a discounted raise is impossible, however unlikely it may seem.

"fully funded for this year" means , in reality, that if no deals are done by Sept/Oct, they will have to raise. Will they get a deal? Probably, imho. But nothing is nailed on, it's a gamble.

I had wondered about that, but can't see it in B&W anywhere.

So here we sit at 13.5p to sell. Yet ST at IC has claculated a post tender NAv of 26p per share. Of that, £46m should be recd from Dbay in cash for APH stake, and £44m cash at YE less£21m tendered leaves another £21m. So, say £64m in cash, = 15.5p pf cash backing for a share you can buy for 13.5p. with 2 remaining businesses for free.

When my tender receipts com in, I think they go straight back in here.

Chaebol

Powell was a Trump appointere, to suggest he favored Biden is not credible. The markets didn't think so then, and don't appear to now. I lean to Harchris' view on this one, but he may not be totally immune to pressure and may feel the need for some cautious tokenism. jammin86's point stands, tho....the more cred the Fed loses, the more gold will fly. We;ll see in a couple weeks, not sure what stats are due b4 that, but they will be critical to any decision.

Wouldn't bet on that. Powell can't now afford to be seen to be bullied by Trump, or markets will be further spooked. The Great Orange Baboon has actually made it HARDER for Powell to cut rates, by tying the Fed's credibility to standing up to him.

I think perhaps you overstate things, newbie. Given the CEO's stake in the co(+ a few other factors) I don't regard this as a lifestyle co.

But nor an I taken in by some talking of the "insane value" lying in the ground. There is zero value in the ground. As you point out, it has to be proved, produced, refined, etc.

There is without doubt huge potential here...just like a dozen or more exporation outfits I could name. But it's a long way off atm. That said, I have a toe in the water, but let's see what the 2025 drill program brings.

Gold just comfortably past $3400 now. Glad those fwd cpntracts expired. Will we see $4000 this year?

Ben

He was the Head of the Audit Cttee and Senior Independent Director. I confess it was prior to my investment so I'm not familiar....was he indeed part of the ececutive team as you imply?

I tend to agree, I've been in and out of thios one over many years now and its a consistent performer thru thick and thin, but for one thing.

Every 2 years or so it tries to "accelerate growth" by yet another discounted raise and knocks the SP back down. As the last raise was less than 6 months ago i don't think they would have the gall to do that again for a while. Fingers xd, 'cos I've dipped my toe in again.

First, apologies to all for continuing this on here; if it goes much further we should of course be doing it on the Altyn bb.

But, thanks, Dmeister, for your info on the 65% holder being a front for the controlling family.

Back in 2021, I held JKX, who were controlled by a group of UKR oligarchs. Juast as it was clear the SP would soon rocket, they imposed a buyout on minority holders so thery could have all the upside for themselves. long & short ; I got out unscathed but lost the potential upside. A few months later, I imagine they did too, cos many of the wells were in E Ukraine. So i dodged a bullet, in the end, but i do not want to expose myself to such a possible future scenario where majority holders can screw the minority ones so blatantly.

So Altyn is definitely not for me. I leave it to everyone else to dyor and decide, but be wary.

Major

I think you answered your own Q. but jw330 has a good point too. Tho the Osun State issue appears to have been seen off, many still perceive West Africa as a high risk area, as indeed it is by the standard investment measures of rule of law, corruption, etc.

But THX has navigated it well so far ; I'm certainly happy to hold for a good while yet, tho conscious that risk is there., and can come out of the blue. Segun's diversifying into Senegal + Cote d'Ivoire seems a good way of spreading risk, too ; they may still be relatively high risk countries, but 3 jurisdictions are better than one.

With the known catalysts coming later in this quarter, I'm holding for 50p here, and mb more. Fingers xd.

Thanks, willz94.

Harchris, yes, now you say it that's my rather hazy memory too.

"One thing to note as well is that the tax break in Nigeria can also be requested for extension on the extended mine life when that comes in"

Are you sure? It's not clear to me, can you point to a definitive statement of that anywhere?

Apologies if this link has been poted before. An interview with gold perma bull Peter Schiff, As said he's a permabull so mb take it with a pinch of salt, but his arguments mostly make sense. H ethinks US is going into recerssion, probablt depression (i agree) but also that RoW wi;; actually benefit (I don't!).

He probably vastly overstates the possibilioty of a MUCH higher gold price, bt it can't be ruled out in theses mad times that are upon us.

https://www.youtube.com/watch?v=cIQG01DRxHk

I am no chartist, but this one expecting to see 70p here. Let's hope so, tho mb a tad ambitious. https://x.com/TheSaintCharts/status/1911746191995314619

CAML yields 11.6% in Kazahkstan., tho imv is undervalued at current price. But a 9% yield is far from excessive for a miner in a less than Tier 1 jurisdiction.

My point is not that Thor is fairly valued - I think there's plenty of upside to come - but yield alone is not a good way to measure the valuation.

I do not disagree. Hopefully THX can grow for a while, and imv Segun's expending into Senegal + Cote d'Ivoire is a good ploy to spread the risk across jurisdictions.

I am v positive on THX and continue to hold a large chunk of my pf here, but simply wary of overconfidence in what remains an unpredictable region. Tho predictability seems to be going out the window across the world atm, so perhaps "risk" and "safety" are nowhere near as sure as they used to be anywhere in the world.

" A good few others too highlighting how supposedly high risk this was, repeatedly, again suddenly silent."

"why can’t you just accept that we called this right? We didn’t say it was low risk"

Well, "supposedly" high risk reads to me as saying it wasn't/isn't. I'm not sure when you became the royal "we", but things have certainly gone the way we all hoped. I will remind you that I am also a holder here, and have said that was my central assumption too. I have merely been highlighting the risk that it might not.

It appears we have different understandings of what constitutes "risk". Risk doesn't vanish because nothing's happened yet, nor does it go away in any specific timeframe. Everything goes swimmingly for turkeys right till Xmas.

This is not a turkey, but it is a fat goose ripe for plucking ; but hopefully not yet!

Harchris

Anything in W Africa is "high risk", go ask a fund manager. This one is working out well, so far, and I've increased my stake. I too am well impressed with Segun's abilities not just to deliver commercially, butto navigate the Nigeris environment.

But risk has not evaporated, as some seem to think. " Nigeria ranked 150 out of 175 countries in Transparency International’s 2022 Corruption Perception Index," per US State dept https://www.state.gov/reports/2024-investment-climate-statements/nigeria/

I don't have time today (making the most of spring weather to get out pedallin!) but at some point I will look at the accounts and see tyhe net profit bdownetcand what it might mean for FY25. I calculate the cost of the divi is c. $23.5m pa, which will impact the FY25 bottom line, but debt repayments drop out.

Again, subject to time, I might have a few Qs for Segun about revenue projections.

Anyway, cracking news from THX and more to come. I'll try not to let the Great Orange Baboon spoil my day!