RE: Income17 Jul 2024 12:16
you just never know when or what the big catalyst is or will arrive. sat in eua for 5 years (low buy on a **** drop 0.17p) mostly in the 0.45-1p range, always claimed to have what it had, circumstances changed and kaboom 25p.
likewise ggp, similar sit, ggp always claiming it had up to 18 telfer lookalikes (telfer nearby 17 million oz gold mine) sat bobbing 0.5p-2p for years, then the owners of telfer came for a look see and agreed after taking over drilling of the first one, that mega kaboomed to a market cap of over £1 billion.
seems high for a small cap exploration company with zero revenues etc but in perspective, that £1b a teeny fraction of what its assets could be worth if indeed 18 x 17moz gold (306moz gold at current prices)
gold price per ounce $2,477.95 £1,904.00
306m x £1904 = £582,624,000,000 aka almost £583 billion, makes ggp reaching £1b a drop in the ocean.
same happens to most early stage miners, unloved , undervalued, until its catalyst arrives, be that reaches good revenues, self funding , big jv or a predator taking all or majority after all the donkey work done. same will happen here
gla.