Member Info for Genghis15

I see alsdo that a previous post has Auctus saying "Our ReNAV is now 1.49 p per share. It includes only one pre-salt and one

post-salt prospect at KON-16. The overall unrisked NAV of the company

based on its entire portfolio of leads and prospects is 10 p per share."

Of course broker targets, and unrisked NAVs, are to be taken with mountains of salt, and there are many steps along the way. But with a Chevron FI already in place, there is a realistic chance of multibagging here even in the next year, and mb much more to come in thec medium term. Patience.

JBT

It was the Charlestown holding, backing up the Chevron FO, that interested me here,

following Robert Bose' interview with Malcy https://www.malcysblog.com/2025/04/core-finance-ceo-interview-robert-bose-of-sintana-energy/ CEG from 36m in. Malcy's TP was 25p, Stiefel, says Malcy, 50p.

Roll on the next FO, hopefully Q1 26.

I am wary of predicting anything about volumes/life at segilola, beyond that the originasl mine plan always assumed a MLE, whether from open pit, u/grnd, satellite deposits, or all three.

Recent results, including today's have firmed that up, and should be combined into a firm MLE plan, I should guess in about 6 to 12 months. But hopefully any unceretaunty that there WILL be a MLE has been put firmly to bed.

The real kicker now will be Douts. Bring on the PFS, hopefully with an indication of short timelines to DFS/FID, and £1 really does start to heave into view.

I see many ppl disputing the figures in that post for various miners. They all look far too high, considering PoG was only c. $2000 until recently those mines would not have been viable at the figures quoted.

Good presentation. Lots of newsflow thru August/sept on drill results Segilola/Douta/Coted'Ivoire. DoutaPFs by end year (at one point said in couple months).

SL visibly excited about Marahui. Lots to come here, hold on to your shares.

Major4

The recent mail article on THX also mentioned GPM, already on my watchlist, and prompted me to take a look. In a presentation a couple months agoheir principals took a very similar view to you on gold, but saw the factors you quote driving it much higher over the medium term. I share their worries over the USD.

As ever, no one knows, but imho the mere fact serious ppl are talking about it makes it a concern given its status propping up the global financial system. #Gold

Https://x.com/DavidBurton1971/status/1954432079996870926

I think mgt have always known what they have to do. Huge credit to Segun Lawson, a founder who has kept his eye on the ball to deliver one stunning project with almost 100% debt finance of one sort or another, into a mature project with massive cashflow (tx in part, oc, to PoG).

That cashflow has not only enabled drilling + PFS of MLE + nearby deposits, but also further, equally company making, projects in Senegal/C'ote d'Ivoire whose capex can likely be largely financed from cashflow, if that's judged the optimal way forward.

Then there always options to sell/farm down, and who knows if at some point a TO comes calling.

Downsides ; well, country risk must be a consideration in W Africa, esp Nigeria, despite it being well managed by Segun as far as we can see. And MLE/Douts PFs is taking longer than expected, tho seemingly for good reason.

All in all, great company, metrics, etc, but behind all of that sits the founder, again, huge credit to him.

Https://x.com/DavidBurton1971/status/1954432079996870926

Screenshot in the link

Https://x.com/ZaksTradersCafe/status/1954465316114702827

Https://x.com/ZaksTradersCafe/status/1954465316114702827

So, at 40p, any holders arte stuck in a non convo unsecured, untradeable, PIK loan note from an unregulated offshore body, with interest accruing till maturity @15% on a 60p per share nominal value. So, a potential 22.5% nominal return, compounded over 5 years....IF the issuing body pays up in 5 years time.

That seems to me to be taking far too much on trust from a BoD who have demonstrated an unscrupulous thirst to rob shareholders for their own benefit. I fing it hard to believe they will willingly pay out at 60p a share plus 5 years @15% cum, 120p or so a share in total. in 5 years time. (compounded annually. They will actually compound quarterly, so a bit more)

i certainly won't be buying back in, i don't really understand why the SP wasn't down to 30p ish b4 the tender date (basically the value of the tender) cos imho that's all anybody's ever getting back fron this gang of thieves. With that gone, it's a real gamble on ever getting your money back.

Up more than 10% in the last few sessions, have I missed something? Seem to be a few sizeable buys today.

Mb somebody knows something on the Emirates lease renewal/sale front.

Less than A$1.5m? Where do you get that from? Cash burn in the Q to 30/6 was A$2.7m, down from A$3.7 in Q4 24. Further savings were announced 11 June, so that will have reduyced firther.

So , I would suggest best guess would be A$3.5m or so remaining at 30 Sept, sufficeient to see to YE25. Hopefully ratification comes before then! I'm holding on.

Https://www.investorschronicle.co.uk/content/1146ef4b-5e26-4437-abf1-9ecc6a533327?xnpe_tifc=4IPN4kPsxdHZhFo7xD1db9psafeWaeiWhFW_RMPgRki3hIxd4oB9afeWaG8.adJSxuUuOfol4.zJ4.nj4DojbnTT

But what are they worth? They are a claim on a SPV with no assets. Seems to me they could easily be rendered worthless at the whim of the same ppl who are robbing shareholders in the first place.

Https://www.investorschronicle.co.uk/content/33e392b6-274b-480a-9244-57fab92058f1?xnpe_tifc=OfPsbI1DxDxZhFhL4fHD4jpsafeWaeiWhFW_RMPgRki3hIxd4oB9afeWaG8.adJSbDVXbf4uxfe_xkY74.nlbXTT

The shares are now a gamble on the success of this minority pressure. If the court action (or the BoD back down) there's considerable upside. if it fails, imv the SP is worth c, 30p. at which level yopu could tender your entitlement and get the PIK notes free. Faites vos jeax, messieurs.

And warrants....

Almost 5 years to recover from Covid, and still the divi is below the 2020 level of 0.75p.

Not a great performance from what is supposed to be a business model of smart deployment of capital delivering growing returns. Constant dilutory capital raises make this one to trade, not to hold.

Problem with his strategy is that once the tender offer has closed, who is going to buy the shares? Few will be interested the loan notes, which a ST notes "have limited minority shareholder protection". Read ; mone at all. A BoD willing to shaft minority holders as is happening here is quie capable of separating the notes from the assets and rendering them worthless. Imho the only option is to sell, tho who is buying I have no idea.

The only way I would buy now is if the price were sub 30p, and I could tender my shares at 60p and basically get the PIK notes free.

Accordingly, I sold yesterday.