Member Info for Guvvi

And check out Luca today too…

Interestingly we've bought a lot of gold and most of it at exactly the right time...

Gallmat where did you hear this? the bit about internal memos i mean.

My response to you Jammin ( fyi i've no issue with people taking a less positive view at all ) is only this... I believe the upside is significant but as i said cant be sure at all. Could even be very wrong shortly !

Would you want to find 40 investments like that though? put £5k into each of them? If so then sure you've appreciated the risk but you've worked out this is better than a finger in the air based on oil prices and buying US mega caps because ' they've always done well ' or whatever. You've found something where you understand it may have problems shortly and may even wipe you out but you're also very aware it might be worth 5x this amount in 2 years.

I think that's how you have to view proper investments that you understand and weigh up.

" The agreement between the Parties to remobilise outlines a framework for negotiating and resolving key disputes, including the parties' respective claims under the terms of the mining contract."

Yeah it's sort of rumbling on somehow in the background but quite sensibly they got back to work anyway.

They're back to work but didn't the small print say they were working on the bigger issue still somewhat? let me check.

Let's not forget that the MC of Hummingbird still has mad amounts of debt stuck in it - the EV is actually a much larger number. The market ( and this board ) simply can't workout how much very short term trouble they're in. Every day that passes without a dire RNS of some sort takes us closer to the performance we are all waiting for.

If they make the 2024 debt repayment alone the MC should close to double from here.

But I - like everyone else here - cannot guarantee some bad news in the next couple of months so i expect it'll be choppy in any direction or not until we get maybe to September time or something.

But we might also at any point get an rns about Dugbe having interested parties, Kouroussa steadily running at a 200oz run rate + resolution of Corica dispute + slight debt adjustment + confirmation of what all this means with a quarter of production at current gold prices.

It's stacked to the upside imo but i can't prove nothing bad is going to happen so we will all just have to be patient !

I have to say simplyme that if i make a good chunk out of this business before DB announces his grand plan to spend 400m wisely on another mine i'll be long gone. We barely made it out alive after trying to manage 120m or whatever.

I agree with you though, DB has said that if he has to he'll have a go at the project alone which scares every bone in my body.

Betts baby? If someone makes an offer it will end up with the shareholders for a vote. CIG are the main shareholder - would they want to sell for 17p having sat through all this turmoil and knowing it might make them 50m a year in 2 years time or something ( might make a lot more - who cares - insert your own figure if needed ). Betts holds very few shares.

Shanta was different, lots of funds said that they had very little chance of seeing the price reflect the value of the business. This was lots of smaller holdings and they just didn't have the appetite for a business who had depressed shares and low liquidity. CIG is completely different they are a large holder owned privately with an eye for actual business performance.

Every business has its price mind, no idea what price CIG would leave this for right now you'd have to ask them. I suspect they have the appetite for the long haul.

Regarding Dugbe the NPV is well known so it's hard to say what price it's currently valued at by all of us investors but it sure seems like no attention is bein paid to it. It's worth a considerable amount of money to someone one day...

If i had to value this for a moment and we have an EV of around 180m sterling ( i've very roughly converted the debt in dollars to £ and added to our MC today )...

And the debt repaid is worth equity which it is + more as the risk subsides then this is still very cheap today if you believe they will meet the debt repayments this year ( or close ). The MC could be up 50% by christmas easily on this basis alone ( again turning the debt in dollars to £ ). So your money is working very hard right now and that's without Dugbe.

Agreed but this not only confirms what people highly suspected but also cements the operation going forward now at exactly the right time. And on the 10m loan side of things the only reason CIG have lent the money over such a short time frame is that it's going to be super easy to pay it back. Everyone has a vested interest in this working now and they're all working. CIG want their equity stake up and business performing well, Coris want their loans repaid, Corica want their money and also the contract for the next however many years.

Any scare stories that appear now are ignoring the significant and obvious economic interests the businesses all have to make this work. Now that pride and ego are sort of out of the way regarding this dispute you can build on some goodwill and get everyone paid - including us - over time.

In this sense it is far from neutral and at exactly the right time it seems re current gold prices.

I can't see how anyone relatively rational sees this RNS as neutral with gold prices seemingly stuck way above 2000 dollars an ounce but i can't be bothered to listen to loads of strange numbers today.

If this was your business entirely and you'd got to work today and the whole fleet were now working to support you on a mine with great grades coming up imminently with gold where it is you'd be absolutely delighted you were back on track.

I highly doubt you'd feel ' neutral ' about anything today.

But you can double that Bushy as Dugbe is worth the same again hopefully !!

Can't wait for 12.5p bid so you can get lost then.

It’s a business that owns other businesses as well as its own interests. The NAV is a valuation of all of that. These things it owns are worth quite a bit probably. Nothing goes pop this is real life not a cartoon.

It’s a small cap company that’s very illiquid and small caps haven’t done well for the last few years neither has lots of other U.K. stuff. I can’t say if it ever pops who knows but JV has shown he can run a business and increase the value of the things it owns.

Sounds like proper investing to me which is what I try and do anywhere I can find something worth buying.

Ty bushy

I saw that on ADVFN but couldn't see the link again nor speak french!

Can do what you like with it but i'd suggest as it's been posted on the MAFL board its because its relevant to our NAV and nothing more.

I confess I’ve bought more since the presentation… I feel dirty !

Jwhitw - who else is responsible for the mining then? What are these posts where people just mention something then suggest nothing then assume the worst.

As Dan said you'd have to ask Corica why they are not sticking to the mining plan, moving the dirt and getting us to where we hoped to be under the contract which they signed.