Member Info for ID78

I think the main issue is the poor comms.

Had they RNS’d plan on entering pit 1 early April and gold from pit 1 to be poured in June/July and in the meantime they remained fully financed.

Then - well the SP would maybe have drifted with some traders moving on and returning but we would know timelines and where we stand. In the meantime we are all just guessing.

It really is simple, comms could be so much better.

So… back to the placing. I hope I’m not jinxing it but no RNS Friday or today. So far so good.

GGP did show that the improbable is possible and so yes £1 is possible. But it is not likely, not probable.

Focusing on stage 1; very good results from the remaining assays from stage 1 we could see this hit £20mill MCAP to £30mill maybe even. But they do need to be very good to do that from 10 drill holes.

I’m looking for £15mill MCAP (so 2.5p) minimum but as I say that could easily be beaten.

The big thing here is the current MCAP (with 2 holes reported)! It’s just SO LOW!

There’s a good chance of more assay results this week, if it’s not this week I’m pretty certain it’s next.

Not long either way..

The drilling programme was designed to test Mila's geological model being that Yarrol hosts a structurally controlled, multi-lode high-grade gold system with scale potential along a 20km corridor

That’s some strike length .. . I suspect it’s not continuous and pockets here and there. If it were continuous it’s massive!

Grade is good …. 40m is very good… more of the same would be lovely

I want to add, and I have a 2 or 3 shares that I hold with news imminent (next week or the week after)… I will have to just bide my time here.

Try again.

Mining of pit 1 (not pit 3) was suspended in 2023 (12/2/25 RNS).

An RNS Sept 2023 doesn’t name the pit but suggests the grade is 1.1g/t - so pit 1 was giving them 1.1g/t in 2023.

And they are expecting the same grade again by rentering pit 1

Sorry for the confusion.

Hey Dai - so they are expecting around 1.1g/t from pit 1 and the investor presentation suggests a grade of 1.6g/t.

Meanwhile mining of pit 3 was suspended in 2023 (12th February RNS)

19th September 2023 RNS: ‘to date some 63500 tonnes of ore have been mined with an inferred grade of 1.1g/t’

So the grade they were achieving in 2023 was 1.1g/t and that differs from slide 7 of the 2022 investor presentation.

I’d tend to go with what they were mining and hope it some point they’d hit the grades in the presentation.

The one concern is that the only JORC resource in the presentation is pit 4. The other numbers in the presentation are ‘Figures from an in house review’….. which is less reassuring.

Do you think we will get the double hit

- here’s the ph2 results AND ph3 drilling has now started

Sam will have a good idea just looking at the cores how good or bad the results will be. He’s experienced enough to know looking at the cores if they are really good - and we got quite a few videos when ph2 drilling was happening so I think he was getting excited.

That said legalwolf made me aware of confirmation bias and that is easily happening here in my post above.

Nevertheless, the fact ph3 is currently being planned is very encouraging,

Hopefully we get those ph2 results next week

Hey skint I was thinking that yesterday. Hold 16p today then see where we go Monday…

Not my work … but I did read this (3LB)

‘Let’s assume a new well drilled each quarter - then we will have five wells by the end of 2025, nine by end 2026, 14 by end 2027 and 19-20 by end 2028.

If you have $80 million in revenue and a classic 6x ratio - then all being well, the market cap could rise to $480 million by end 2027.

But let’s do year-end 2025. Let’s assume four wells only, or $20 million pa in revenue. The market cap should, all being equal, rise to 4x on a early-stage basis (risk adjusted) to $80 million (£64 million) - representing a 2.5x upside by year-end.’

At the end of the day the market could over heat and do more than that. Or be slow to catch on and do less. Or flow rates better or worse than assumed so it’s all guesswork.

But it does look like HEX is starting its next move.

Good stuff - and no buying a bottom never happens.

Ever!

Comms are really bad CLSK. But -as always- if they get good gold pours then none of this will matter in the end.

I think I saw you over on COIN - that should hopefully make up for any paper losses here

Interestingly - there’s a poster I read from time to time (portfoliopower). He’s in the camp of good posters that I like to read on here.

Yesterday Ppower did suggest the same ‘could it be a placing forward sold’… time will tell.

But some of the best gains have been after a placing so long as investors haven’t been thrown under the bus

OMI - 2p to 15p

GSCU - 1.1p to 5p

PAT - 7p to 21p

Again …. IF the gold pours come good then this could fly.

So if you are not overexposed - do you add. IF there is a placing?..

It’s high risk no doubt..

(You probably do -have a good buy- don’t you)

Well - you probably do, don’t you.

But waiting on news money may migrate elsewhere and with the low liquidity here (or low free float) the SP will suffer. Flip side is good news could easily explode the SP.

We just need to wait.

Yeah and that’s where my mind was slowly navigating to HarChris. Surely tampers don’t appear to do a placing? It would be interviews to try to lift the SP (or nothing at all). Rampers on a BB would be bizarre.

But - someone trying to exit from a position - now that’s possible.

So… placing unlikely, seller likely. And if you’re brave a good price to buy….. I mean the SP was near double this earlier this year!

If this drops anymore you are looking a MCAP less then £300k.

LESS than £300k.

If (it’s a big if) they can prove up 1/10th of what the neighbours have that is 500,000oz gold.

Owning 30% of the licence and assuming $3200/oz the value of that gold would be $480mill of gold.

I mean we are a long way from there. Need a licence for starters. Need to find some gold with the drills. But you’d be nuts not to have some money that you can afford to lose in here..

Again a free carry on the drilling. No dilution to drill …

Sonofaboo - what I find curious all the new posters descending on GRL yesterday attempting to lift the SP. Was this orchestrated? …. It was odd and that makes me wonder if it was to help lift the SP to get a placing away. But do things really work like that or is my imagination getting the better of me. What I’ve seen in the past is a flurry of promotional videos/interview's from companies to lift the SP then a placing ..

At the same time I agree with HarChris’s post that they haven’t needed it up till now. HOWEVER I think we can all agree the last pour from pit 2 has not been RNS’d as it was low. So maybe they do need a small amount of cash…. But if so they’d be getting pit 1 gold anytime soon and so do they really need a raise? Just a small loan?

Ho hum - we just need to wait and see.

As always GLA.