Member Info for Genghis15

Well, we do seem stuck in a downtrend. i guess sp weakness will continue until next news, which I don't expect till NY, so a drift down to 8p or so seems possible, even likely, in the meantime.

i still see 15p at least come mid Jan, tho.

But mb the selling today a combo of ST traders who bought for the RNS, and some holders from lower down taking some profits b4 the break.

Fundamentals look good, let's look forward to the other drill results and ignore ST fluctuations.

Ok, tho "it was the auditors that led to the delay" sounds rather like blame to me! Certainly not a line a CFO could get away with.

But my point was that if the last delay was squarely the fault of the co, not the auditors.....then the lack of audit process this time simply removes one excuse, it doesn't increase confidence that delays won't happen.

I'm not predicting, nor expecting, the figures to be delayed, but the finance function at TGR has a long way to go b4 I'll have any faith in it. Reputation once lost is quite rightly hard to regain.

Not buying that. Co has responsibility to ensure accounts are published, which means CFO must manage the audit accordingly. The buck stops with the CFO.

If the auditors truly were responsible, they would have been sued and replaced, with appropriate reputational damage. CFOs simply cannot escape statutory duties by blaming third parties.

What would you expect the mkt to price a share that has just issued new capital @ 24p?

"We're as good as fully funded! ? Really? Altho we are assured it will come from a furyher offtake agreement, there is a little matter of c. $40m still needed.

i am baffled how a co that was offered a TO @ 33p a few weeks ago can have needed to discount itself to 24p just for a small raise. Of course the market will reprice accordingly, what else could it do?

"considerable cash generation" (HarChris) is indeed what's needed to raise this from the (nearly) dead. Production, tho key, is not bottom line. i wo

I was expecting an anouncement b4 YE tbh, to which we are getting very close.Will TGR manage to disappoint yet again?

T/O @ 33p

placing @ 23.5p

????

Nothing like a bullish engulfing candle.......!!

I neither understand nor have any belief in charting, but plenty, esp ST traders, appear to.

So I'm alwas glad to have the chartists onside, even if I think it's nonsense.....sorry, 4Kandles, no offence meant.

You certainly would, but sometimes I wonder.....!!

Looks like you were a bit early, but there's 50% upside here to ATH, which itself was woefully short of value. You'll do well!

Look at Mcap, not SP , when looking at possible upside. Dreaming about that sort of upside is delusional unless backed by Mcap justification.

Caribo

I beg to disagree. All BBs tend to becoming a church of the converted, and whatever LH's motives may be, he prompts others to examine the doubts he raises, and in so doing nudges all of us to keep our feet on the ground.

It's sometimes good to have a grinch, doesn't mean we have to believe him.

"nice to see you back and full of positivity. " Lol, yes, i know, but...... It's mb a good thing some is here to challenge.

Anyway, good luck with your positivity, gents. let's hope it pays off for you in 2024.

HarC

No, I didn't miss it ; I disagree with it fundamentally, which is what I tried to say. Cash is not the ONLY factor, of course, but without it you can't do much else.

Anyway, you're welcome to your view.

I genuinely hope this works out well for all holders here, I've been in similar situations and it's not nice. But I'm damn glad I'm able to look art this from the sidelines, 'cos it wre currently a holder I'd be sweating now.

"Cash isn't the most important factor"

Cash is ALWAYS the most important factor, especially so if you don't have enough of it. It's what we invest for, it's the raison d'etre of every investor, every listed company, to make cash. Forget the mission statements, the ESG polisies, the expansion plans, the critical minerals policyand the community benefits.

All those things come second to, and are only enabled by, good solid cash earnings. it's why we buy shares, it's why entrpreneurs start businesses, it's why employees turn up for work.

That's why Munger called Ebitda "bull$hit", and that's why I harp on about TGR being so woeful both at managing cash, and misleading investor expectations.

"None of his wisdom is much use when applied to higher risk £15m small cap miners with explosive growth potential. "

Believe what you will. But think ; so far , the faithful on here have accepted excuses for missing filing deadlines, temporary trading suspensions, turnover of NEDs, non payment of loan notes, a cash crunch hidden from investorsuntil the last minute...I could go on. Every time, someone pops up to say, oh, but this is different.

No, it's not. It's woeful mismanagement.

On 19 Oct, the co said it had " initiated engagements to obtain institutional debt finance2, which in layman's language is "we're trying to borrow money". no word since. mb they're on top of it. mb it will arrive tomorrow, but so far this co's promises have not been fulfilled.

Still, it's (nearly) Xmas. MB Santa will fall down Shishir's chimney with a nice sack of cash. MB.

cigam

". here we are back in the 15p range again at a circa £16m market cap, which is mad considering the business is growing production and generating sales with 45-50% gross margins. "

hmm. well gross margin is a pretty meaningless figure. net margin might be something, even ebitda might be something, tho munger says rightly that even ebitda is "bull****".

what matters is profit, and even more, cash. and that's the problem ; tgr is struggling for cash, and until that's sorted out the sp and mcap make perfect sense.

I am no expert in these things, but can't help wondering if someone's got wind of an RNS in the works. Drill assays tomorrow would be very welcome....

" Following the receipt of the Sales proceeds, the Directors will present their plans for the utilisation of this cash to Shareholders."

Special divi, tender offer? holders ought to be anticipatinmg some capital return given the huge discount to NAV, I would think.

This premium to NAV in the books must take NAV per share well ove 600p, even without the earn out. £94m now in cash, leaving a valuation of just £64m on the remainder. By my calcs that means 255p of SP is cash, leaving a bal of 170p vs remaining NAV of c. 450p.

Somebody pls check my maths, 'cos that's beyond ridiculous if so.

Printerman

My only advice is that if you are going to dream about the potential future share price, anchor your expectations a little by translating the figures into market cap (sp x no of shares in issue) and ask yourself if that is a reasonable figure at any given point in the mine development.