Member Info for LuckyLuciano

So far POG is holding very well, considering USD index is up at 105

....making few quid out of one tiny miner like Thor?

Wouldn't it be better to wait to develop the industry and 5-10 years down the line when they have a decent revenue stream, maybe then bring taxes in line with neighboring countries?

IMO I can't see any tax rise coming, beside, isn't the Osun shenanigans already an attempt to get more money out of Thor.

Worst case scenario Thor to pay $2mil. maybe no even that, to avoid bad publicity and send a positive signal to future Investors...

Wow talking about conspiracy theories...

Some people are crazy, where the tax going up comes from ???

I see Thor the only gold miner in Nigeria and the Central Gov. wanting to attract investments.

Why would they want to create such a negative publicity and jeopardize future investments, in a wanna-be minerals resource industry, what for? For the sake of making few

Not bad at all. If I read it right, some $55mil to acquire 100% production of 50k/oz comes 2025/26.

High grade, low risk jurisdiction, for 6% of our market cap, we bought 25% more production.

Comes 2025/26 most be around 300k, we have also diversified jurisdiction.

comes 2026 sp near £1

I wonder how US presidential election outcome will affect Gold.

I read this..... Historically, gold tends to perform better under Democratic presidents, though this correlation isn’t absolute. A Harris win could push gold higher as a safe haven, while Trump’s re-election may lead to consolidation or a correction. However, traders should prepare for volatility in either scenario.

But IMO a Trump win would create more economic uncertainties, therefore possibly Gold will become even more a safe asset.....

Particularly the environmental claims from Osun sound too dramatic and not sure how they square up with, environmental license granted from the central gov.

More likely the Osun state using the environmental card, to make loud noise in order to get what they ask (cash)

In the end cash especially in Africa (but not only..) solve all the problems, is just a matter of how much.

For what is worth since this new has come out, POG is some $100 higher or$8 million more profit for Thor this year.

It should cover any claim the Osun state is making, but unfortunately as always this noise is now on the open and till settled it will remain in investors thoughts...

Hoping for a quick solution, whatever is the outcome, with POG at this levels I am not worry.

I don't get it!!!

POG closing again at all time high with US election still to come.

US GDP next if coming below a quite ambitious forecast at 3%, will push gold yet even higher, and you worry about Nigeria joining not as full members BRICS ?

All I know is that Gold is paid is USD and Thor costs are in Naira, which keeps losing value to the USD, hence increasing profit margins for Thor.

With Oil been paid in local currency, in times of low demand for oil, it could exacerbate further devaluation of Naira to increase exports....possibly the opposite would happens if supply is lower that demand, hence appreciating Naira to the USD. All in all oil paid in Naira IMO as no tangible effect on devaluation of Naira

My hope is for POG to go past 2800 as soon as next week.

Wednesday coming US GDP forecasted at 3% may disappoint, reversing the recent run of USD.

Lets see but, yes 3000 is in sight comes 2025.

This previous article is also interesting and a confirmation that Osun State will have to bend over and say "I am sorry".

In a way is good that this issue has come up, so that once resolved, it will set the records straight, on what Osun can and can not do in the future and how it should behave, if any tax claims or other claims where to arise.

https://thenationonlineng.net/osuns-actions-against-segilola-resources-how-not-to-boost-investor-confidence/?utm_source=auto-read-also&utm_medium=web

Past 2750

powering trough the 2700 in no time......

Lol senior moments, I know what you mean...lol

Ghana v Nigeria hmmmm difficult but interesting comparison.

My superficial take is that Ghana is definitely a gold mining Nation, hence Artisanal mining issues are more relevant to the politics and operations of miners over there, than in Nigeria.

Nigeria is much more oil based economy and its gold mining industry is just at the begin, with Thor been one of the few companies mining for gold over there.

This scenario (maybe been wishful thinking) imply that Central Government will do anything to attract new investments in the sector, to grant new licenses.

A clear signal has been recently deliberation:

After the Osun State Government sought to impede operations at the mine, the Company initiated legal proceedings in the Federal High Court in Abuja, which has issued an interim injunction and restraining order preventing the Osun State Government and its officials from interfering with the Company's activities.

If the Federal High Court did nothing against the Osun State actions, beside the validity of these claims, it would have scare away many future investors in the up and coming gold mining industry in Nigeria.

I am sure thought that Artisanal mining is also an issue in Nigeria, albeit (I would guess) of much smaller proportions.

Yeaa right gold at $8000, hmmmm what is he smoking ??

I am weary of people so young and easily excitable making any kind of forecast.

Indeed in my experience, I realized that any kind of price forecast if based on a time frame, been shares or commodities

is often to be wrong, and especially those long term forecast.

Also price forecast create expectation and plays with the mind and emotions, resulting in making wrong decisions.

Rather forget prices and look at the market dynamics in play right now for gold, definitely a bullish market.

Beside mid/short terms favorable trends like the US election and geopolitical, there is the Fed policy with rate cuts.

Perversely the fact that those rate cuts won't be as fast as one thought, may support POG, in that if this theme is going to be in play for longer, any retrace in the POG will be nicely supported by the next rate cut down the line. Hence we are talking about the Fed cutting rate slower for the next 2 years ?! Who know where POG will be by then?

https://www.investing.com/studios/article-382635

Mind you Ghana is not Nigeria.

How Artisanal mining in Ghana would affect or mine in Nigeria?????

Beside, a crack down on artisanal mining would favor legal mining, where that polluted land would be given to mining companies for mining, by employing the locals/artisanal miners and extract gold following environmental laws..

2736

This rally looks more and more a FOMO. Without any metrics or fundamental as benchmark POG next stop seems likely at $3000.

Hence very much feasible an average of $2700/2800 for 2025, unless US starts to lower rates at faster pace...

So 240k is another 3 years at 80k, plus what can be found out of exploration.

Lets say another 240k makes 6 years of production .

Now last results brought some $1200 net profit margins with POG at $2300/oz.

Who knows where the POG will be in the next 6 years...

At current price another 480k production at $1600 net margins = $ 768 million Profit

All bad news out and POG keep rising, today Canadian market, where I bought my shares in ISA,

sp up so far, looks like price has bottomed from lates tax issue, and now is catching up with POG and potential good news flow.....tax issue resolved and financial results next moths, expecting new high sp soon.

My main worries was that they would have to stop mining. With the intervention of the Federal High Court, the Osun State Government now has a weaker position in the negotiation for tax payments. Lower production is not good but hopefully POG will make it up for that, today at new record high. Glad all the bad news are out I see only positive going forward, nice time to top up.

===================================================

After the Osun State Government sought to impede operations at the mine, the Company initiated legal proceedings in the Federal High Court in Abuja, which has issued an interim injunction and restraining order preventing the Osun State Government and its officials from interfering with the Company's activities. The Company will continue to pursue legal action against the Osun State Government and its officers until such time as the dispute is resolved.

==================================================================

...correction next week we are to expect Operation Update, rather than result.

Indeed, Thor in the last two years announced Q3 i in the middle of October, hence results it should be due next week.

Looking forward to that and hopefully news that the tax issue as been resolved.

I read about news of mining activities been stopped, but no reaction to the share price

so I wounder if that is true ..?!

Also the company mentioned in one of the last rns that mining, was unaffected by the tax dispute.

Anyhow with all the bad news possibly already priced in, stellar result on its way and solution to the tax issue, from here the only way is up. DYOR

We can write all we like about Thor, in the end the market is always right ant that is reflected in the sp.

Only time and efforts will move the sp in one direction or another.

A good investment is when one is able to spot opportunities by researching and been able to see a little further in the future.

The initial alleged tax evasion is 1% of share price or 2% of Total shareholders equities, when so far Thor sp is down 10%.

POG is in a good place, the only danger that even safe assets like Gold will get hit is if another black swan ever occurs, namely a total melt down in the tech sector and panic spreading all over.