Member Info for Mandoo

Hey MM - I just have Level 2 on here (LSE) which shows you live trades and bid/ask of the various market makers.

All about the market cap here. Should by nearer £20m (and arguably higher) upon reopening. That's 16p a share. Suspect we'll see the big rise just prior to 4th July when the reopening RNS lands.

This should go much higher today. Only one MM left on 5.5p ask the other 4 now on 6p or 6.25p respectively.

Currently valued at cash or thereabouts and the 'brand' alone must be worth £20m-£30m. Expecting an RNS confirming 'reopening' imminently.

Good luck and as always DYOR.

66.5% of shares held by directors and a further 18.6% by significant shareholders so free float is potentially circa 14.9% which equates to only 18.3m shares., hence why it moves very quickly with any buying pressure.

Yep. Really well run business and I'd imagine they still have £3m-£4m still in cash (was £5.1m at year end). Directors buying at 10p pre-covid, so would imagine we'll be trading in the 10p-15p range again soon.

Don’t think they can place below 10p a share...might be wrong but the ordinary shares had a nominal value of 10p upon admission. I think they’re more likely to get bought out...£4m a year in recurring revenue at a 73% gross margin is an attractive proposition.

Yep but good to see they’ve introduced cost cutting measures that will shave over £3m off their cost base. If they maintain this it will only take a couple more deals to take them into profitability in the next 12 months. Personally think the current market cap @ £1.8m is far too low, and should be nearer the £5m mark, so approx 16/17p per share....possibly more depending upon how sales go post the new product launch in July.

The 36k was a buy...I know that for fact because I bought them!

Will be interesting if there's another TR1 prior to the 26th. They won't get the 75% of votes required to push the delisting through now and I wouldn't be surprised if an offer for the company comes in from Richard Griffiths and Co.

Good luck and DYOR.

I suspect a 'Results RNS' will follow in the next week or so as this is what Craig said on the 'Results of Placing RNS' on 7th May

'"It was pleasing to see this raise oversubscribed demonstrating the growing support for the Company in the UK capital markets. We look forward to updating the market in the coming weeks on the results of the Stage 2 exploration programme at Wudinna'

Possibly 2 of them by the looks of it...timed a few seconds apart. Defo someone loading up here.

I'd tend to agree - supported by the fact that they'll currently take nearly 1m share's off me at 2.75p in a single transaction which would suggest someone wants the shares.

Looks like the same person has taken 5million in total now...

Far easier to raise at a lower price pre news would be my guess hence why they pushed it through quickly via book build. Personally I’m far happier that they raised now rather than post news and think they’ve done well to do it at 2.25p. Aside from warrants, there’s now no further dilution expected in the short term...unless there’s very good reason of course. Interesting that the 1m+ trades at the end of Friday were at a 20% premium...bodes well for next week.

I suspect they had to raise to pay for their 50% equity position in Wudinna. Fully diluted, including the 100m warrants and placing shares, I make a 50% equity position, worth just over 6p per share per 1million Oz. So if my assumption is correct why would they take up their equity position at a cost of circa £1m if there is no upside? And why were those that took up the placing happy to pay 2.25p per share yesterday for a share they could’ve been buying for significantly less only a week or so ago? Presumably they, for some reason, think the shares are now worth significantly more now...I wonder what that reason could be? (hint, hint). Add to this the two recent director appointments and it’s fairly easy to join the dots in my view.

Assuming the results came back from the lab by last Tuesday it’s fair to assume those results will be RNS’d within 10-14 days so I’d imagine we’ll get some news next week, quite possibly prior to Craig’s interview, allowing him to discuss them.

Good luck and as always DYOR.

Yep - 'Placing oversubscribed' RNS posted about 5mins ago.

It would be very odd appointing two new directors last week if the news was bad don't you think.!? Interesting that they specifically mention David Clarke's experience 'in the discovery, development and production of the million ounce Tuckabianna gold mine in Western Australia' (hint, hint).

I'm sure it will become (even more) apparent what they'll be using the funds raised for at some point next week.

Good luck and as always DYOR .

RNS of 7th April says - ' Results are currently expected within 2 to 4 weeks....'

4 weeks was yesterday, so an RNS should be imminent, supported by the fact that the CEO is being interviewed next week where he'll presumably be discussing the results, next steps etc. Unlikely he'd agree to an interview if the results weren't positive.

Craig speculates 'several million ounces' and Andromeda (JV partners) mention around a 'million ounces'. If either of these estimates turn out to be true then it's fair to assume that we are significantly undervalued, even when factoring in the 100m warrants @ 3p.

Should be an interesting few days!

Good luck and DYOR.

Hard to imagine that the results won't be good given the 2 new appointments plus the fact that Craig has agreed to be interviewed this week. The PR department are giving us slightly more subtle hints that Topi...but only marginally!

Interview by StockBox...posted about 5 hours ago.
https://twitter.com/StockBoxMedia

Good luck and DYOR.

Taken from the RNS dated 7th April - 4 weeks is tomorrow, hence why news is expected then.

'Results are currently expected within 2 to 4 weeks as to date the processing of samples at the ALS laboratories have been largely unaffected by the COVID-19 outbreak.'

Good luck and DYOR.