Member Info for jdt1990

Exactly. If You stump up hundreds of millions in an AIM placing, you hold all the cards. Twiggy isn’t in this for a few pence return per share….this is someone of his calibre seeing the potential early on, getting on board, facilitating a serious coup IMO and looking for serious short medium and long term rewards!

I think you’re right on it being a steal. Newmont have to fix the tailings dam issue. GGP buy Telfer which is producing gold/copper and as such FCF, at $1000/oz profit from day 1.

That funds the pathway (with no dilution) to getting Havieron into production, which extends the life of mine and materially brings down the AISC.

Capitalising on current gold prices is key.

Newcrest downplayed the value. Newmont didn’t want it as they have bigger fish to fry.

Greatland take it on at a valuation that I feel massively u set plays the Havieron aspect.

Add to that the Telfer capacity is more than Havieron can produce. Buying smaller assets with the FCF or taking royalties from other explorers wanting to produce using Telfer is also an option.

The share issuance is big. The discount not unheard of in AIM. However, the long term value is materially larger to GGP.

I’d also expect divis from the cash in the not too distant future.

Shambolic management to not capitalise on a significant chunk of the conduit investment when they were first able to….this Co is a joke!

When you break it down, BAM alone holds significant value. Current mcap £17m.

They have a 1.5moz resource in BAM. Lets say that could be sold for $100/oz, that's $150m which could increase $200m plus as the resource grown past 2moz which was stated as the magic resource figure.

Is it saleable? Well - AISC is $1,200/oz, project payback 2.25 years, safe and mining friendly jurisdiction, near surface gold.

Project NPV post tax at $1800 gold is $231m whihc ups to $400m+ at todays gold price.

The problem was always Bill. They were trying to do too much with all the assets but actually had no idea on how to deliver anything, whilst dithering and wasting money in the process.

We now have a new CEO who is very experienced, a cornerstone investor and now some additional HNW investors taking a large stake.

At £17m mcap.....I can see why Sprott and Rick Rule are very interested!!!

Slides 14 and 15 are all you really need to work out how undervalued the BAM project is. It’s been said in

writing that 2moz is the resource figure that gets buyers interested. Get drilling and that’s not as far as some may think!

https://www.landore.com/pdf/LND_Presentation_Jan_2024c.pdf

He’s taken at minimum a 12% additional stake in the company. No requirement to disclose under 3% hence why it’s not stated as previous position on the TR1.

Whichever way you look at it, it’s a very positive signal

Post tax NPV in their Jan24 presentation is $231m @ $1800 with a 2.25y payback. Ok costs will have inflated but at $2160 gold that adds (pre tax) another $220m to the NPV

It’s a cracking project for a mid tier to pick up - low Capex, easy access surface gold. If they can get 2moz plus in a PFS….sell it on and bank the cash!

Who said it was positive….it’s a necessary evil.

What were you expecting? Some form of non dilutive bank debt for a company that literally had no other way to turn.

What’s done is done, the raise price was sensible….time for LND now to deliver on getting BAM to 2moz+ and getting it sold to someone who could actually turn it into a viable “mine”

Dilution was a necessary evil….funds were needed to drill BAM, otherwise everything sits there idle. Yes dilution is annoying but at least it was at a sensible price, AIM is brutal for raises at the moment.

The cash now should unlock some actual tangible progress and value as opposed to everything being paper calcs which look good but will never materialise

I have to say, given the “back to the wall” position LND find themselves in from years of max management and ineptitude, to get a raise of that size away at 2.4p in the current climate is much better than I had expected.

Current gold price clearly helping the situation.

Regardless, someone now at the helm who is actively involved in a successful mining company and will have the ability to steer the company we hope to get the magical 2moz for BAM and finally deliver some value for long long suffering shareholders!

If there was a jv in the wings it would have been done long before now not in a mad rush.

The ineptitude this company has shown over the theses beggars belief really. 1.5m oz with gold at $2300/oz yet they can sell it and clearly have no expertise to take it to production!

Clearly a placing….and the fact they’re taking it down to the wire for annual report (going concern statement) and also needed for working capital suggest it isn’t going to be pretty!

They have to….there was £1m someone applied for in the original placing that they never committed to in the end and didn’t fund.

But…ITS ALIVVVEEE!

Who’s have thought there would be a final reprieve here, let’s see what happens now Bill is gone

Have to say I feel for a Craig here. Fortune left him with an utter 💩 show and in fairness to Craig, he’s delivered on everything in his control in a short timeframe.

What’s really hurt is the V price and unpaid debts from the restructure, neither of which he can ultimately control.

If anyone can turn this around it would be him but the question is can it be done before the cash run out and lights have to be turned off.

Whatever happened to the electrolyte samples and potential sales there?

Have to say I thought it was lights out for GRL or there was a coup to take it private. To get a raise away at all given the state of the business in this environment is nothing short of a miracle. Not overly disgusted at 1p either given a 50% discount isn't uncommon at the moment and been done by much stronger businesses. Dilution is a bit crippling but its better than losing the lot!

Employees and AIMS taking equity is a positive sign to some degree.

They have also been producing gold, which I would imagine has been done on a shoestring given the current situation...so they are doing something.

Bill gone has to be a positive. Angela List may now be able to salvage something here if the can get the operation moving whilst gold is at $2300. Another BS comment form Emma...I personally think she is a joke but it it what it is and she needs to pull her finger out and deliver.

A glimmer of hope here!

I might even try to make an appearance at the AGM 😂

As if this bunch of muppets couldn’t embarrass themselves anymore….they really are a joke.

If a raise ever gets done it will be at a crippling price as their back are against the wall. My money (literally) is on a delisting and they take it private for the investors to take all the spoils at our expense

From the Jan RNS:

"Further to the execution of the Standstill Agreement, the Board is pursuing various avenues to seek to raise additional funding to provide working capital for the group's operational development and to settle various balances due to the Company's outstanding creditors in order to facilitate publication of the 2022 Accounts and Interim Results on a going concern basis. The Board is seeking to complete such arrangements by the end of February 2024 and will provide further updates as appropriate in due course."

Hopefully the NOMAD forces an update if we see nothing tomorrow (which I highly doubt we will)

Just another painful wait to see what, if anything, these muppets can muster up

AIM is currently on it's a*se, especially the junior resource sector (despite gold being at $2k/oz)

GRL have their backs against the wall to even be classed as a going concern and be able to continue operating on this market.

Angela List has assumed a position of responsibility, she has a vested interest but there is no doubt anybody that is willing to put funds into this shambles of a business and operation are going to want it as cheap as possible...and why wouldn't they, risk reward when in a position of power.

I'd be prepared for an eyewatering discount on a placing (if one gets done) but as you say, if it keeps us in the fight to see what the Co can do without Bill...better than nothing.

Only saving grace is that if they can finally get some gold extracted, assuming costs in Ghana have come down (inflation has fallen from 40% to 23% there) there might be some ok margins in it to build from the bottom up

Think having a seasoned pro like Craig take over here has saved the business. No way fortune would have been able to do it, he was out of his depth and running it into the ground!

Glad to seem him go. A drain on cash resources and clearly not as capable as he made out in his CV. Delivered nothing but a mess since he joined.

Surely now the focus has to simply be get BAM proved up to 2moz and sell it off. With gold at $2k per oz, this has to be a bargain ready for someone to snap up in a fire sale.

Or that’s what I hope anyway so I can recoup something (will be at a material loss no doubt though) in my lifetime