Member Info for Lucky520

At today's price the NPV is 56.7 million, up from 42 when gold was $1262.00 an ounce. Who knows how high it will go?????

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.

Not necessarily! The quick read through looks like they have 30% ownership of the license from KPZ!
This means xtract still has the rights to mine the project.

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?

The SP ticked up nicely though. Hopefully it continues.

Pyo88 why do you use an abbreviation and then explain what it means? Lol it takes you twice as long to write it so why abbreviate it in the first place?

That's what I assumed but who trusts Colin? Lol
Gw Andrew is talking about Mozambique not Moz gold.

They have had an RNS stating recommencing mining after the covid-19. Why have we not got any of these professional RNS's ?
Or were we not effected?

At the rate gold is climbing we could be a profit making company this quarter lol
News on alluvials due in two weeks.
Hopefully the hard rock news comes with it.

I don't know what's in the contract but I'm sure xtract will have a clause to pull out if they so wish?
I'm starting to agree Andrew but we could do with some cash to progress other projects!

Andrew I'm in the belief that there may have been a contract in the signing and that was postponed maybe due to the volitility in gold price?
Maybe CB pulled out from signing the deal due to the gold price rising. If I was Colin would you want to risk selling the asset at today's price when gold is rocketing and the predictions are above $2000 in the near future.

It still doesn't excuse him from failing the promised update but who knows why we didn't get it!

Just done some rough calculations and at today's gold price the alluvials are basically covering all company costs and expenses. Effectively we a breaking even at today's price of gold. We could be turning a profit soon as a whole if gold keeps rising.

I know we don't always trust what CB has said but he has said that all aspects of hard rock are progressing satisfactorily, therefore I take it the plant is going to be completed sometime between July and October and processing some material. That's providing we are not massively effect by the pandemic.
Gold price is on the up again today, passing $1700. That puts the minimum buy for MMP at around $28 million now!!
I think we will see an uplift in SP this week.
Xtract is ridiculously undervalued.
Gla