Gold on the up again! Come on Colin let's have the hard rock news soon and get the SP moving towards where it should be. Should have hard rock income of 400k a month in the next 3-4 months. Still well undervalued atm.
CE, agreed. I came to the same valuation as you. Just can't believe I would ever see xtract at 14p lol. I think by this time next year we will be around the 6-7p and I will be out and running for the hills when we do.
Nice rise today, people seeing the value or the word has got out from the presentation. We have alluvial news soon, hard rock and final results due in the next few weeks. Hopefully this is the start of the re rate.
I personally think it is more likely that a deal is being struck but they can't come to terms on the NPV due to the volitility of gold price atm. Imagine Colin selling at today's price only for gold to increase to $2000 by year end...... That wouldn't be a great business deal for us.
Maybe Colin chose not to release the news due to the large selling from sanderson.? They would have keep down the SP rise. Maybe Colin is waiting for the notification that sanderson are out or low on shares so it doesn't dampen the rise.
However...... That was based on half 1 expenses. We do not know the current rate and we have been investing a lot in drilling and exploration and continue to do so. Also we have the costs of setting up the kelengwa mine....... The more I think on it, it is possible we could get a raise?!?........ I'm going to stop thinking now and go for my daily exercise before I start over thinking lol Alluvial news due next week, let's wait and see if any other news will come.
Based on my estimates we currently have $650,000 in the bank today if all gold is sold. That is approximately 3 months exspences. With gold price bringing our alluvials close to covering all cost I find it unlikely we will be seeing a cash raise.
Andrew, unfortunately by my calculations based on revenue we have little to no cash in bank except the unsold gold that I have not calculated and not including this quarters take. My best guess if we were to have the same quarter as last plus your figure of unsold gold...... Comes to approximately $650,000 cash in bank if all gold is sold do date.
Sorry about that Andrew lol. I am going to sit down and go through the gold sales etc to work out how much gold/cash in the bank we have left..... That may point to weather we are getting a raise or not soon. I'll be back with an update soon.
Just been rereading the RNS's and it's definitely not KPZ! They may sell 20% of their issued shares 6-12 months after the issue date and the issue date is the 20th of December, therefore they may not sell any shares until the 20th of may.
Andrew, I thought the same but 20% would only be $40,000. I think the trades have been going on for some time now and would have easily covered their 20% by now. They may well have offloaded their 20% but I'm sure there is someone else selling too.
The seller does seem to have a large amount of shares. It must be a private seller or we would have had an RNS. If it was KPZ then we surly would be informed too. What is the threshold for an RNS regarding percentage of the company?