RE: Director alignment2 Jul 2025 10:00
I'm ever a 'benefit of the doubt' and 'glass half full' kind of guy, for good or ill, but my view is that I was very naive when I first invested in this share. I wasn't fully aware of AIM dynamics and the risk of market volumes cutting in half. Bitcoin also wasn't properly on my radar and I also didn't understand the amount of time it takes to realise a junior exploration in a country that has never opened its doors to gold mining before.
So, now a little more lucid, I'm conscious that, from starting exploration to realising a mine is a 10 year endeavour. If this all started in 2018 then it looks like we're pretty much on track.
As far as I can tell there are 4 things holding back the share price.
1. Lanstead or any risk of a placing
2. AIM volume, there's just less people looking at AIM as they can make gains elsewhere.
3. There's never been a gold mine in Cameroon, so no evidence it's actually possible.
4. The results aren't concrete enough, yet.
Personally I don't buy into the 'overpaid' argument or lack of effort from the BOD. I think that's an armchair view from those that like to compare apples with oranges with little understanding of the real environment the team are operating in. Like I said, benefit of the doubt. I'm also glad that we are paying money to secure good team members because losing their expertise or belief despite the ambiguous nature and security of their jobs, it would create instability in the business. Other companies may have wealthy board members, perhaps this one doesn't. It's easy to be presumptive when you're frustrated. Pay peanuts...
From what I understand there are certain catalysts that have lifted the share price so we can already tell what will work.
1. Jorc - temporary lift but it's only an indication, not concrete enough.
2. Perpetual bonanza grades - highly unlikely but you never know.
3. MRE - this is the true catalyst in my mind. It's what the industry hangs it hat on.
4. Actual progression to breaking soil - this is the biggest.
5. 2m+ ounces confirmed - this is what the mid-tiers look for in a takeover, so a share price lift is likely for those expectating a buyout uplift.
I think 4 out of 5 of those are possible this second half of the year. With another couple of years until ground is broken.
These are the facts in my view, everything else is speculation and noise
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