The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
A very very positive interview, we can relax, this is not going to be sold cheap underneath our feet. Happy days ahead, and the hint was, not over the next two weeks, but early in the new year a deal will be announced. ‘We are absurdly cheap currently’ MC says, and I believe him.
I know that PC was in Spain a couple of weeks ago. We know that the 30k renewal came in just before the bell last year. If Tolsa don’t take it up, then I am sure some other deal can be struck with A another with the information that has been gleaned from the drilling. It might just be at a higher value! They might even want to renegotiate with the royalties. PC said that the royalties on this were hard to value, due to different grades. Forever optimistic that some deal will be done.
This share price has been beaten up for so long, that investor confidence has gone. We are valued well below our market cap, we have losses developing the project more than our market cap. We have the same directors wanting shares at 15p, we have just hit record gold prices, central bankers buying record amounts of gold. Our timing is good, and we hold all the cards, we are not a desperate seller. Fear prevails, and the time is now right to follow the directors money. It is not going bust, and will multi bag in the new year IMHO. There is little down side risk at this level, and plenty of signs that the selling price is going to a lot higher than 15p. It has been an interesting journey with Condor, sitting on heavy unrealised losses, but have bought some more to average down!
It is Jim taking £1million at 15p, when he knows the non binding 5 offers! So he is going to take as many as the board will allow him. The board then said, we are missing out, we want some at that price! That is how I see it. They know the value, and we just have to follow money!
I just can’t believe the share price hasn’t rocketed, the MM’s have ignored the RNS. There is enough evidence that the values talked about are well above 15p. I like the fact that two of the suitors are two gold producers, would not mind an equity swap to capitalise on higher gold prices. Why put it in lights otherwise? With news early in the new year, this is a low risk investment at this level.
What a great update, in hindsight the slowness of the process will give us a higher price, with gold increasing by $100’s. Potentially we are a gold district with over 5 million ounces. There is another $500 million, and we are valued at £23m. It is not surprising the other directors want to get in on a small raise at 15P! They know the value of the 5 non binding offers. Happy to be patient, the share price should respond from being ultra bearish today, to something that hopefully will be more logical given the assets and gold price strength. MC is trying to give us enough hints!
Garfield- potential for a tier 1 Copper deposit.
Golden Metal holds a 100% interest in the Garfield Project through its wholly-owned Nevada operating company, Golden Metal Resources LLC. A 2% Net Smelter Return Royalty ("NSR Royalty") Interest, of which 1% can be bought back at any time for US$1,000,000, is payable to Sunrise Resources plc (LON:SRES). The NSR Royalty covers the original Garfield Project claims as well as a 1 mile radius outside of those claims which covers roughly half of the current 'High-Grade Zone' footprint.
Another one of my, follow it down PaulFG! I need it to triple to break even, I have been in it that long. Here there have been a lot of raises, so my percentage keeps being diluted, whilst CMET has been relatively clean. We just have to be patient, and let our compelling value do the talking for us. The market will turn, if it hasn’t last week, with the expectation of interest rate cuts. GL, we will have to meet up if this 5 bags on funding and a Saudi listing! 2024 is looking good for both shares!
Harry sounds very confident, not if but when, could drop any time, but out of his hands. He is frustrated as we are! No limit to the growth prospects, as we are leaders in two pioneer countries opening up their mining. With gold at $2072, and looking very positive going forward with the dollar strength in retreat. US borrowing going up to 3 trillion this year, central bank gold buying evidencing the problem in the system. I think we have a very positive future, a pension builder from current very low level. I look forward to the mainstream market waking up to the benefits of investing in the mining sector. It is amazing that with 5 million gold equivalent, and price of gold is up $100’s an ounce, $500m and our market cap is £35million! Just demonstrates our potential. Happy days are ahead, I think Harry has got us over the line.
I can now breath a sigh of relief! It has put us back a year, but we should be in a lot better position going forward with government. This is going to be a real pension maker, generating very heavy dividends. The next bit of news will be the contract, and we will be all systems go. I was told at the AGM that there were a queue of companies who wanted to work with us, so very little risk here. We know the MOU about the deal. In a year we will be generating cash. The major shareholders have been holding since the beginning, so I don’t expect a low ball offer from the Chinese will cut any ice. So happy days are around the corner. The share price is still however dreadful!
The updated presentation reads well, and demonstrates our assets. I would not like to read too much into the order of our projects, but the 28 December is only around the corner for the Tosa deal, and I gather PC was in Spain a couple of weeks ago. We just have to be patient, with the cash burn minimal, we can afford to wait. Gold and Silver prices on the rise should generate some interest in our periphery assets. The deals have to be right for SRES, and not sold off on the cheap.
If they can’t find funding, they will put themselves up for sale. Shareholders will get something, even though it will be at a discount to what the assets are worth. I believe funding will come, but at a cost of dilution. We own a tier 1 asset, that is part finished, that fact underpins our value.
Going into receivership is still messy, Glencore run the risk of having higher offers submitted. I believe the cornerstone investors do offer us PI’s some protection. The directors have fiduciary duties to consider and will be taking legal advice. I agree that it is a ruthless game, and PI’s are at the bottom of the queue, however we are a very long way from being wiped out. It is not all doom and gloom at this level.
Why would any of the 3 large investors let it go bust? Financial logic will prevail, the PI’s have been shaken down, but the asset still has significant value way above the current market cap. We are at the stage of optimum fear, which for others is an opportunity. I am pleased we have 3 big cornerstone investors. They have to work together, or sell it to a third party at a profit.