Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
I see Storm are going for a placement.
I had written off the idea that we'd be seeing the money we're due from them, but maybe not? Keen to hang on to Miminiska and Keezhik with gold on the up? Maybe they're finally getting there with negociating with the first nations?
Come on Claude. You and your Canadian buddies have all had ample opportunity to buy dirt cheap shares in time for both the sector and company to turn around. Get on with it. Other companies are moving.
Gold up again this morning.
Macro shifting and could go quite dramatically in our favour in 2024.
It's getting difficult to imagine that this doesn't look drastically different and better a year from now.
It just needs some confidence to start building and momentum traders to starting to piling in again rather than bailing out. It's too easy to wait still at the moment, once it starts moving upwards it won't be.
Worth saying on the Pure Gold issue that the complications experienced there will not apply to Junior Lake.
2moz of simple open pit will be in the bank by the time a mining decision is made. 10 years at 200k oz/year.
If the geologists are right and there's shallow gold on some of the rest of the length between Bam and Lamaune then it could be 20 or 30 years before anybody worries about the complications of underground mining.
It's off to the TSX-V we go.
I know what you guys will say, the TSX-V is also crushed right now.
The difference is that when sector sentiment turns, it actually stands some chance of attracting real investors on company fundamentals.
AIM has become an utterly crooked cesspool dominated by 10% traders. No serious company can stay.
Claude's pitching in hundreds of thousands of dollars of his own money with the only route to exit being building a mine, be that via a sale or in house. Given his pedigree he's as well qualified as anybody to decide if this is likely to become a mine and he clearly thinks it is.
The wait for him to move the ship and start sailing it is painful, but we are done being valued ridiculously here on AIM.
https://investingstrategy.co.uk/financial-news/is-the-aim-market-an-unregulated-mess/
At least with Claude's experience operating Red Lake taking this into production is no idle threat.
He did a great job refining the project at Eastmain too, there are some similarities.
The primary problem for us lot is now the ridiculously good deal new entrants have been offered. If they can't be persuaded to stay and instead chose to trim or sell out for a relatively quick buck rebuilding the share price to an acceptable level will be a long mission.
This raise, then warrant money, perhaps more non core asset sales, GT1 and Storm money, perhaps future raises at a more acceptable price if they can get it moving.
Personally I think they're being extremely cagey about the amount of drilling/growing the project they actually plan on doing here.
They'll be drilling for a few years and looking to double it I suspect. Go big or go home is the only strategy that makes any sense.
Couldn't agree more JDT, this has been walked down all year to let people in cheaply.
The only question is when the handbrake is coming off.
Sadly I will not be a beneficiary as I'm still scuba diving.
Sorry to hear you're in a submarine hunterguitar. Hopefully it isn't like that one that went down to see the Titanic and imploded!
In all seriousness, what could cause that? As you point out, lots of good stuff has happened or is happening.
If they failed to turn up any more gold they'd be in serious trouble, but otherwise? It's been two years since they were doing useful drilling at BAM and they didn't seem to have problems hitting it.
They've just got to get back on with it.
Alamos gold CEO saying that producers now look at projects for YEARS on the run up to acquiring them.
Don't we know it.
Given that Alamos own one of the mines on the presentation map of 'who's already mining gold in Ontario' it's well worth a watch.
Looks like Claude has been brought in to do the final, detailed and specific geological work required in order to de-risk Bam and meet this kind of CEO's requirements.
https://www.youtube.com/watch?v=_zrqOm2zz5g
Lithium is a common element with too much excitement around it. This was a good move IMO.
If Claude keeps adding little steps together some of us might be able to take our scuba gear off and switch to just using a snorkel soon.
Apparent selling but the price ticks up?
Could these be buys from last week? Claude starting to buy in?
A theory at best, but we do want a CEO incentivised to make millions for himself quickly by realising true value rather than one who's lifestyle drilling for a salary.
Sprott still in. Claude can see it and has a ridiculous track record/CV. He's close to Rob McEwen and goes way back with him (see link below). Imagine the doors he can open with these kinds of contacts.
These people are not mugs. They are proper, deep in the industry, well connected experts. Gold is rising again.
But you can't give shares away to AIM punters at 9.5p. They know better than to buy in here. Apparently.
Make it make sense.
https://www.mining.com/rob-mcewen-looking-ahead-of-the-curve/
Agreed AM90. Sell on RNS brigade/traders were going at it again this morning.
Bill going. Sounds like a new CEO is close. Maybe a dual listing and a Canadian based person?
The AGM info appears to me to say that if and when they need to raise it'd be done with an 'offering of rights' (rights offering?). Happy to be corrected, but that's where all shareholders are democratically offered to take part in any raise is it not? If up to a further 15m shares in circulation is what's needed on top of the other income streams here over the next year or so to finish the job and get a sensible offer for a 2moz deposit I'd participate and be happy enough. It's the moral way to raise an extra bit including everybody if they do end up needing it. Fairness is good for sentiment and it'd be cool to just be included in the process as part of the journey. All good experience.
A new, fair, democratic Landore with a new CEO? Doesn't seem like bad news.
Yahoo says Bill was born in 1941 which makes him 82 this year.
I just went on the ONS mortality tables and the average remaining life expectancy for a British male who's made it to 82 is 7.26 years. Bill is Australian, but it can't be all that different.
He's sat on 5.7 million shares radically underwater after all these years and statistically time is not on his side.
As morbid as it is, we've all got an expiry date.
Personally I'd have thought Glenn would be the obvious interim CEO if they need one, but a proper and suitable replacement who knows what they're doing before the AGM would be a real win for everybody.