Member Info for maddogmcree

Bought £3.25k to add to my holding today. Happy to hold based on my own research. I still have fair value around £5.00 - lets see if the bidder has found the cash and what he is prepared to offer.

Sooner or later they are bound to run out of these 8.3 and 8.5 forms and we might get a meaningful RNS.

Apologies , previous post was meant for CNE, this share remains on my watchlist - was in pre Iran war but out now until clear cut evidence ipact of Hormuz strait had. Aware revenue guidance is reportedly on track but will wait for proof before re-entering with a position

Just bought some more another £3k. Just a waiting game, happy to hold

Last years profit based on $68 dollars a barrel - last 3 months has an average of $86-$91 taking into account the lows in the $70's and the highs over $100 - should all give a nice 6 month or H1 return if we meet expected 18000-22000 boepd

PJ - the bidder would not be buying up the stock currently on the cheap because as of yet they have not decided if he want to complete the deal. He / she / they ( better be pc ) are currently carrying out due diligence. If the books /revenues /profits / debtors and the like all match up then they will go forward with their offer which has already been put to the board at an agreed price and the board were happy to then allow permission for the process to start. Background noise might be that the bidder is trying to secure the necessary finance to complete the deal at the agreed price. Personally I am happy either way as the company appears to be in a very healthy state and stockholders should make money going forward whatever the outcome. I think the drop in price offers yourself an opportunity more than the bidder.

Looks like some are taking profits which no one can argue with. I think it will settle around current market value until the company release next update. I am still strong on medium term uplift. Only a small amount of patience is required

Reviewed over the weekend and with the number of people I hear on weight loss injections, if this company can grab the market regards same in a tablet then the sky's the limit. I've jumped in for the ride.

As I have said before even if the company terminate talks on being bought out, I cannot see it having any impact on share price as the company is already heading towards having nearly 2/3 of its value in cash in the bank. Profit will be ahead of last year due to increase in oil price even if Straight of Hormuz reopens.

Based on cash in bank $132 mill, profits of $19 mill, better terms going forward, If Brent holds at $85 per barrel for the rest of the year would add $14 mill to bottom line. That would leave us with say $165 mill in bank with the company valued £220 mill. So what would you buy that company for or be prepared to sell it for. If I pay $400 mill I think it would equate to a pe ratio of 6 which is not demanding for a profitable business. I think we could look at £5.50 - all my rough guestimate but i cant imagine my figures will be too far off

The contracts provide the security one seeks regards future revenue and will support the continued rise in share price. We will soon be debt free. Its going to be a very good 12 months. I think Nick you may be a tad optimistic. I will accept same by Christmas.

So to we need 3500-5000ozs of gold to be mined to be on target for full year guidance - lets hope we hit the top end with a nice positive outlook. Hopefully the interest in the share today continues over the next week as there is always someone in the know :)

Can I ask probably a novice question as to why we get so many 8.3 forms rns’d every day

We need another bidder - that will speed due diligence up.

On the one hand I agree completely the share price does not reflect cash on hand, revenue incoming, especially with upswing in oil price. But it appears so undervalued that I can't help thinking we must be missing something, otherwise we would not be looking at one buyer but multiple buyers at this price. I think the bid will only be around 50% above today's price as the buyer will want their own margin. I will still be happy if I wake up to a 50% increase in share price. Anything else above would be a welcome bonus and anything below should get rejected

You are not alone, I am here also based on the remarkable fundamentals - whether we are bought out or not the company looks to have a bright future, With the cash already in the bank I agree current share price appears to significantly under value the company. Just means a good buying opportunity I bought some at £2.67 and more yesterday on the pullback from recent high of £3.30

OTC listing finished at equivalent 75p and hit a high of 79.8p

Well thought I would join you guys after reading that rns - jumped in for £5k

I am gonna go with 15,000 ozs as mine is in decline, $4250 average gold price less costs so free cash flow of say $30mill

£19 mill profit this year would have us on a pe of 10 and not the 20’s as stated on LSE. So if we assume a pe of 20 that would equate to double the current share price hence the multiple offers coming into the board. I cannot believe this will be sold for anything less that 50% north of current share price

Market capital of Company only £182 mill. If I had that money I would just buy this company sit back and enjoy all the profits. You get £103 mill net cash in bank- seems a crazy price