RE: 15p paid23 Sep 2025 09:30
Couldn't agree more Polio
But lets not get excited yet, not even close
The 1911 holding is currently worth £585K, we sold down some shares in recent months to raise a further £525k and did a small placing.
I estimate cash is at least £1m+ (when you add in 1911)
Which means you then have three projects, all valued at less than £1m (or £350K each give or take)
Gold is now at $3750, I dont think most people realise how much value this adds to the NPV of a project and how economical it can make projects that were previously not even considered.
Historically gold traded around $2000-2200, how many projects have we seen with an ASIC of say $2200 and thought no chance, not touching that, management need to do better.
Even those projects that were once thought of as disasters, could now be raking in over $1000 profit per ounce.
I am truly shocked that this hasn't absolutely exploded based on its proximity to historic gold mines and 1911, plus they also have two other assets (copper, uranium and silver) which will be HUGE in the coming years, but right now yes the focus is on the gold
It all depends on drill results, so we are taking some risk, but the downside is protected by £1m+ cash and two other assets, downside potentially what 30-40% vs an upside of 1000%+ should they hit some decent grades.
Give me as many of these plays as possible, ill take 100/1 on the roulette wheel if you are offering it with only 37 numbers.
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