Member Info for LionelGreen

Certainly wasn't the RNS I've been hoping for. Can it really be that more production facilities are a priority at this time? Airbus, for example, still appears as just "encouraging". I've been here since 2008, buying in at 2.2p, although my average is a bit lower. I've retained some optimism for almost 10 years, but this is seeping away. Today, another placing, more dilution, more of the CEO being "delighted" and "excited" at the prospects of lots of jam, but always tomorrow. I'm not delighted, and I'm not excited, and it's frankly difficult to see any serious change in company prospects for the next year or two. I'm now thinking about bailing out. I'd be very interested to hear the reactions to this RNS of our other VLTH (very long-term holders!)... Truro, Niky, Richie? Is there anything particularly positive here?

We have seen a nice rise in the past couple of days, and an RNS yesterday announcing that the holding of Cannacord (Vancouver wealth management, presumably on behalf of a number of clients?) is now above 13percent. Cannacord is not listed on the Hardide www site as holding a significant holding, but the Hardide site refers only to holdings back in April. I find it interesting/curious that a Canadian investment group has focused attention on Hardide. Any thoughts? The RNS states that the threshold was crossed on 18 September. I see no obvious major trades that day, but there is then one of 3.2 million at 16:16 on 19Sep (£51,200) at 1.60p, and therefore appearing as a sell. Putting these events together, and suspecting that a true sell of 3.2 million would lead to drop in SP rather than the rise we have seen in the past 2 days, makes me think that was instead a buy. But that would be a buy at a significant discount to the SP at the time (1.75-1.80), indeed well below even the bid. So I am quite confused. Overall, this seems like a positive development, with a positive development on the SP. Does anyone more experienced in these trades have any other thoughts about what might be happening? Cordially Lionel

Yes indeed. And the current price of US$ 4.40 would put the takeover valuation of MARL (SAND shares + cash) at 115.9p. It can't really just be the current gold price driving this, can it? But difficult to tell without the discussion of our previous board. Nice to see some old faces still here - and hanging on in! I moved my cash handout to BMN, which looks to be a very interesting play. It was recommended by skibba; and at least skibba, bushy_69 and ludeck are over there too. Lionel

@D220: can you post link... I could not find it. Cordially Lionel

Also waiting. Also impatiently. Also waiting impatiently for NYSE to open. That's the trouble now: not only my whole days wasted staring at the LSE prices, but all my evenings blown willing on the NYSE. Cordially Lionel

Very welcome. At current US$ 4.07, represents a MARL SP of just over 110p. Does anyone know a site where we can see the individual trades going through on SAND or SSL, not just the current SP (e.g. as with google finance)? Cordially Lionel

Agreed with that, SGD27. One slightly frustrating thing is that I had been hoping to see the MARL/HM upside realised around now. As it is, I imagine we will have to sit tight on the SAND shares for at least another 1-2 years for the full value to be unlocked. But the promise of guaranteed exploitation, a considerable exploration upside potential, and a dividend stream coming online all promise to make this another exciting - if somewhat more protracted - adventure! Cordially Lionel

@Art: Agreed, and I did ask the same question to this board on 9 June. Kev4 gave a rather insightful response the same day (related to Conroy's contacts and shareholding). May I invite you to take a look at Kev4's complete answer on that day? Cordially Lionel

Can we get this circular somehow? I do not see it at their web site. I'm holding through a nominee account, and it may not be so straightforward to get it through them. I have been invested for nearly 3 years, and seen my investment drop from 90p equivalent to the current 19p. So I am not at all happy. I consider that CGNR has demonstrated very little progress over the past few years (despite the resources claimed), very little information is distributed to shareholders, and there is an almost total absence of objectives and schedules. The company has shown contempt for its shareholders, and delivered little (if anything) over the time I've been invested. My emails to the company have gone unanswered. I simply do not believe the current management team will deliver anything meaningful. CGNR has NINE directors!!! Time to bring the gravy train to a halt. Time for a good clear out. Bring it on, Johnson, Heddle, and O'Sullivan. Cordially Lionel

From my post of 27June: My guess FWIW: I can't help feeling that there will soon be some positive news coming out from Hot Maden which SAND will have been holding off until after the merge is completed... they will need to prove to their shareholders that this will be a good deal for them. Now we start to see this with the burst of videos that Terrafin has recently posted. Here is another, from 5 July, and well worth listening to. It's by SAND's geologist, and gives their analysis of the exploration upside of HM: https://www.youtube.com/watch?v=8tkEkFjNIGA there are all sorts of upbeat statements all the way through, including this early on: "we don't understand how big it is yet, but everything we have so far suggests it could get very very large". More details are given towards the end. Happy listening. Cordially Lionel

This is very good spot, Terrafin, thanks for positing. Both videos repeat, over and over, what a transformational deal this is for SAND. From the first video, SAND CEO states that there will be lots of drilling results forthcoming, with a "drill update press release expected in the next week". Later he states that they will be starting a share buy-back program which will run over the next 6-9 months. From the second video, here are some quotes referring to Hot Maden "where have you ever seen this in the mining industry"... "most due diligence ever done in SAND"... "the metallurgy report stated that this is one of the best undeveloped mines in the world"... "this is one of those deals that is very special in the industry" Excellent development. I'm holding. cordially Lionel

Very much agreed, Terrafin. We must also be expecting that GP will be held on a pretty tight rein! Cordially Lionel

Yesterday's SAND close at 3.84 US$ corresponds to a MARL valuation (following the merger offer terms) of 104.98p. Cordially Lionel

from the quoted SeekingAlpha article: Quote: "Hot Maden’s mine attributes are stunning with a Preliminary Economic Assessment estimate of 11 grams of gold per rock ton compared to the typical range of 3 to 5 grams per ton. SAND’s engineers believe the HM asset could in fact yield 13 g/t to 15 g/t of gold." Now we are starting to see it's real value... Cordially Lionel

Sandstorm Gold Trades At A Significant Discount To SOTP With Multiple Catalysts article: https://seekingalpha.com/article/4084145 Essentially states that there is considerable upside potential in the current SAND SP, with a strong contribution from Hot Maden. Which we sort of knew, right? Cordially Lionel

Looks like more very good news... the following is directly from today's RNS Hardide plc (AIM: HDD), the provider of advanced surface coating technology, is pleased to announce that Hardide Coatings Ltd has gained Nadcap accreditation for Coatings. Nadcap is the world's leading independent certification program for special processes within the aerospace and defence industry. The accreditation, in addition to the company's current certifications to AS9100, ISO9001 and ISO14001, means Hardide can expand its business in the aerospace sector and provide its advanced tungsten carbide-based coatings to any of the aerospace prime contractors or their supply chains worldwide. It follows the award in March 2017 of approved supplier status to Airbus Group and demonstrates the Company's ongoing commitment to quality and process excellence. Philip Kirkham, CEO of Hardide Coatings commented: "Aerospace is a key growth market for Hardide and this is a significant achievement and milestone toward realising the clear potential for our coating technology in this sector. An increasing number of aerospace companies require their suppliers to be Nadcap accredited so to be fully approved opens up the market to us. As well as cementing our position with customers such as Airbus, Leonardo and BAE Systems, it will qualify us to work with any of the prime contractors and their worldwide supply chains." "Congratulations to Hardide Coatings Ltd on successfully passing what may be the aerospace industry's most stringent process capability assessment audit," said Joe Pinto, Executive Vice President and Chief Operating Officer at the Performance Review Institute. "Nadcap audit criteria are widely acknowledged to be hard to meet and companies like Hardide Coatings, who succeed at doing so, rightfully deserve recognition."

MARL shares suspended as of 07:30, as expected. Cordially Lionel

Ludeck: thank you for these clarifications and thoughts. If I have followed your arguments correctly, we MAY see some additional return to Sandstorm from Ergama, not already accounted for (case a), or Ergama may simply disappear from our holdings, and we will see no future benefits from it whatsoever (case b). In what would be a somewhat typical AIM development, Ergama (for us LTH in MARL) may just have vaporized. I will wait and see, but with close to zero optimism, what returns accrue from the Spin-Co process. I will not be anticipating any significant returns for the old MARLers.. My hope in transferring to SAND remains only in the future augmented value of Hot Maden. Cordially Lionel

Mugwump: what I have seen so far is three separate boards on https://ceo.ca/ that cover: MARL (presumably soon to disappear like this one?): https://ceo.ca/marl SAND (US Sandstorm listing): https://ceo.ca/sand SSL (Canadian Sandstorm listing): https://ceo.ca/ssl Would also appreciate if people know of others. Cordially Lionel

Fulmar (or others who understand these things): I have seen that you remain optimistic about the prospects for Ergama. However, in the original discussions on the merger with SAND, it was stated (if memory serves) that the non-Hot Maden component of MARL would be spun-off into some other company that they referred to as Spin-Co. My fear is that Spin-Co will be set up in such a way that we (MARL or SAND) will see little or perhaps even nothing of Ergama and Cote d'Ivoire. GP and ER have been told (if I recall) that they can run with Spin-Co. Presumably they will walk off with 90% (or whatever) of the new company, and we will be invited to stump up more cash to remain involved. My guess is that we will not have a continuing participation in any of these new prospects. How do you see it? Cordially Lionel