Member Info for HarChris

They are all lagging but no question THX by the most.

Some might see that as a risk, I see it as a value opportunity. Time will tell (soon I think).

Net asset value will be something like $375m by the end of this year. Two years prior it was $110m.

That's the sort of transformation you see when you're able to fully take advantage of a gold bull market.

Let's hope the conversations with Segun and the team all week have some investors building a position soon - the numbers he'll be highlighting to them will be rather eye catching.

That's what often happens at strong resistance, it takes a lot to burst through but when it does it rallies hard.

That's where we're at now - hoping for plenty of news flow post Mining Indaba, Friday onwards.

Re new article I got my free trial too recently so can't access! Anyone else? Looks positive from the bit that is visible... expect it to be with Segun at Mining Indaba.

It is a huge ask to reach BE in 2025 but no question this management team is good at dressing up average results.

Will fall back in the weeks ahead is my guess.

Mixed bag. That 41k prescription figure for Q4 is very disappointing, wanted to see 50k+ - the net price is good but was already signposted in last update.

Someone sign up for free trial and share on here? I’m on holiday but will do it tomorrow if not.

A little more patience required, that’s all. It might take just one of the RNS’ we’re waiting on to crack through the 20p resistance with gold this bullish.

There might well be some unforeseen costs but there really weren’t much in 2024, the only reason cash only increased ~$12m was because so much of the cash generated went to paying off the senior loan, the interest on that loan, halving the gold stream liability and working down the accounts payable. Now there is no loan, no interest, the rest of the gold stream liability is being paid off slowly through to mid 2026 and the working capital position should be positive by start of 2025 give or take a few $m so it really will be all crystallising to cash now.

Also gold price is almost 40 odd percent higher than start of 2024 - looking at about $160m net profit for this year if POG holds vs ~$95m in 2024.

Put it all together and you see cash position rises $100m+ and that’s with a lot of leeway built in.

Too conservative for a couple of reasons.

One, EBITDA and net profit are much closer together now as there are no financing costs and interest to be paid (bar a very small amount for gold stream liability) and I think the vast majority of profit will crystallise to cash, perhaps 90%.

~$45m net cash position after Q1 I think. And then late 2025 cash pile will begin being used to construct Douta.

And up until now there’s been a fairly sizeable forward contract/hedge shaving a bit of that upside above $2200/oz off - this quarter there’s very little left and from Mar/April nothing, so all upside, nearly $2000/oz NET margin!

This really is a good BB apart from the new time waster. When asked what the risks are or negatives we all have a fair crack at naming them, not scared to highlight that no investment is fully risk free or certain.

Obviously we generally are positive because we are invested and think the investment case is really strong but you won’t find many boards with this sort of balance from holders.

I’m starting to think this is a bot.

Momentum was lost when Osun State started causing problems. It appears all is okay on that front and we know for certain it caused no disruption to operations but it knocked the share price from 20p to 14p overnight and it’s been a grind to get back to that 20p resistance.

We need a catalyst to break through that resistance. The gold price builds the pressure and any of Douta PFS,federal government report, dividend, q1 results etc etc might be that catalyst.

We wait for the pressure to keep building and then this breaks out suddenly. Not today but one day soon if no sudden shocks beforehand.

There, your question answered.

It’s more like £250k a month so £3m per year and will be at a sky high margin so perhaps a few £m a year profit. Pretty decent va current mcap.

Not the update we were all wanting but likely plenty more updates this quarter to turn sentiment around.

Https://x.com/kobeissiletter/status/1886189496225390644?s=46&t=L7k3nxfxN_9xwjjIedxUrA

Futures market showing terrible day in store for US stocks tomorrow and bitcoin falling right back - gold? Futures suggesting new all time highs again tomorrow.

Gold is the place to be right now. Under appreciated gold miners like THX even more so.

If you mean it please don’t reply to them again, they don’t need to be ‘dealt with’ , they need ignoring til they get bored and disappear. . Responding never ever helps

‘2023 FY saw turnover increase 70% to just shy of £5 million

With Madagascar operating revenues could be close to £6 million. Mcap similar figures’

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Problem is with maturity or debt and lack of cash the next fundraise is highly likely to add tens of millions of shares to the register, possibly even more. So a much lower share price will equate to the same mcap as before.

The share price may never fully catch up with the fundamentals but there’s no way THX goes on to make around $300m over the coming years with the market cap staying at $150m, no way.

Sure things could go wrong but it won’t be a case of gigantic profits and 20p a share. Keep making this profit and share price will rise considerably.