Member Info for Minesinthemine

Hey Kutzz... It's awful over here at the moment. I have been avoiding dropping in too often, but am getting close to thinking this is done. I am so far down at these levels, that a further 50% drop from here is somewhat irrelevant, hence am biding my time and hoping that the future announcements on activities/results will drive a bounce. I am also hoping that IAMGOLD continue their investment, though if you read the details on what happens if they don't it may be no bad thing... You only have to jointly fund the activies, and if IAMGOLD choose not to do much with the license whilst they focus on other areas we won't have much in the way of bills to pay.

Basically, all eyes on Cameroon...

In terms of F1, it's clear Lewis is coming back from the recent messages. I am pleased as the Russell/Lewis battle is one of the things I am most interested in. All will be revealed over the coming weeks, but certainly something interesting to watch in spring. As for Max, I think it will also be interesting to see how he reacts to being World Champ, albeit with a fairly even split of people thinking he may or may not have deserved it. I am sure he will be spurred on with wanting to win this year in style.

Let's hope by the time it's Lights Out in Oz, it's not the same for us here!

I too think now is the time for calm. There are many on here (including me) who have been through the mill on this share and are severely under water. Clearly appreciating the rise and hope that over the next month or so and news supports continued SP growth.

Looking at the opportunity here the key is securing ongoing IAMGold commitment to the Senegal license backed by strong results. Obviously it dilutes our slice, but removes any funding requirements and would be free carry.

Then we need to see positive results in Cameroon, enough to grow the company value significantly as 2023 will be another investment year to continue the exploration hence we either need results good enough to attract partners or to raise the SP significantly such that the next round of dilution isn't as painful.

Either way, it's a good start to 2022 and hope that we get further strong results near team in 2022 and some sector/sentiment change throughout the year.

Happy New Year Kutzz, hope you are keeping well. Friends went out to Florida and were very pleased with the weather and break. I've not picked any stock for 2022 yet, but have some funds to fill my wifes ISA before April so will put some time aside over the next couple of months to build a plan.

GLA

Father Christmas can still deliver a sack full of gold.

I may be underwater Kutzz but don’t feel like we’ve drowned yet.

Hope everyone stays safe. I feel a lot better not checking in here as often and am still hopeful. Tis the season of miracles after all.

Whatever your faith, work, or place in the world, I hope you manage to have a break and have some fun.

I know coal isn’t politically correct or clearly environmentally sound, but given the size of license Coal in the stocking is better than nothing :)

In all seriousness I am no longer expecting anything from this that will materially change the SP northbound. We have another year funded and if we don’t strike gold another placing or worse.

I am currently focussed on work at the moment so haven’t checked in here much and certainly haven’t logged into HL to see the big red numbers.

We need both gold to become a star of commodities for 2022 and some good results. Don’t mind which order but do need both if we are to get back level let alone make a profit.

I am going to properly switch off from work next week until the New Year and hope that you manage to get a decent break too.

On the F1 - Consistency of decisions is ruining it for me. I don’t like either Lewis or Max but respect both. I think Max is so talented he can win fairly and has pushed the limits this year, but also think he was hard done by on the first lap decision. Lewis was clearly shocked but gracious in defeat. All this talk about best season etc… is massively tainted from Masi and I truly hope they sort it all out for next season and also hope McLaren give Lando a competitive car and can’t wait to see if Russell makes an impact at the top. But it if we get the same as inconsistent decisions it will ruin the sport and last weekend felt a little manufacturers for the benefit of F1 pockets. Could back fire if people tune out because it becomes a show rather than a sport. Thanks think someone else mentioned it too, and I too will be watching the last episode of Drive to Survive first.

Seasons greetings all, at least we have a good deal of time and money in play until the rainy season ‘again’….

Definitely prefer gold bars than gold. Though I am not expecting any news prior to the festive break.

Still a good strong and long term gamble. I’ve given up checking in everyday and that has certainly helped. Still disappointed in 2021 and feel like 2022 is somewhat of a dejavu year but really hoping for a different outcome.

Also what a race. That track looks bonkers. Some of the car cams show just how committed and trusting in the car you need to be. I feel this weekend will be somewhat the same with Max going for any move on Hamilton knowing that if Hamilton is taken out or they both are that he wins the championship. Keen to see 1st practice to see how much of a difference the new track layout makes.

Anyway, catch up soon. Hope you are right about results this side of Christmas but not expecting anything until the new year.

After IAMGOLDs current spend. They can spend another $4m over 2yr's to gain a further 19%. This would value the whole of Senala at $21m.

If it's worth more than this why wouldn't they just take the option?

The answer is that if they were to prove out more of the resource during their $4m spend such that it costs them more to buy out the remaining 30%.

Alternatively they may have their hands full on other projects and want to prove out the value to maximise the saleable asset to someone else etc...

So many options ahead, but I believe they would just take the option on to gain the 19%.

Definitely Kuttz. Let’s hope the drilling proves out an even bigger reserve. I do think it will be almost nailed on that IAMGOLD opt in for their next two years investment as you could probably backsolve the current reserve estimate to prove out its more worthwhile to spend another $4m over the next two years to gain a bigger percent for them.

What we need more is some good width/grades to come from Cameroon.

Anyway hope you enjoy Thanksgiving in the US.

It was a cracker of a race. I really enjoyed it.

I still can’t wait to see Russell in the same car and if what was said that it was a ‘damaged’ wing rather than a blatant attempt to cheat then is disappointing as the point or 3 he would have picked up certainly would have made things a bit spicier. But defo looking forward to next weekend again. Only 5 days till practice!

Totally agree, we need to see an ORR come back like that one!

Defo can't do hindsight trading and I really did think the gamble was worth it. Still think money will be made, but like others have said, our money will have been tied up here hence missed out on other opportunities.

If I were new looking into this, I think I'd simply be reading some of the recent comments that Gold as a sector 'could' be on the move, we will certainly have some news and if the stars align there could be signifcant movement. Equally, with no change in sentiment and poor results there is still significant opportunity to lose money.

Fingers crossed we get some gold pipes and more importantly some v.large widths.

Good luck all.

On F1, I'm neither a Lewis or Max fan but like the fact there has finally been some competition. Lando is the guy I support, but has been a disappointing few races from him. I'm going to enjoy watching the new format this weekend, it'll be the first time I'll manage to watch it live so looking forward to that. For me, it's a case of seeing if McLaren can make any further leaps to get back ahead of Ferarri and building the excitement for George Russell in a Merc next year.

Will catch up sometime next week, just hope we manage to hold onto the weeks gain but currently looking shaky (albeit I don't have L2 so cannot really see beyond HL/Google SP)

Hey Kutzz, I was (you were too I think) properly bought into this for all the previous reasons we discussed and felt confident that we have the licenses have the team etc… Confidence was knocked a little with some of (before getting jumped on by everyone) “my” perceived missing of deadlines or dragging on with results, poor handling of the IAMGold shortfall etc…

Then we got the results and they weren’t the stellar ones we’d hoped for. No ‘gold pipes’, wow I remember the gold pipe joke days….

But now I’d love a good ramping, would feel sorry for other investors caught up like you and I, but so underwater and underwhelmed with what has happened with the SP.

Being fair the company seems to be making good progress, I find myself being caught up again and that it’s just sentiment with the gold market in general, that we have such a VAST license in Cameroon and have funding for the next wave of work etc..

I don’t know about you Kutzz but I don’t check in here often at all, I’ve pretty much written off getting the big returns I once hoped for. I see some of the newer investors on here and I’d say there is good reason for optimism buying in now, but not sure I have quite the same enthusiasm.

Where’s your head at?

Well I wasn’t wrong that something was coming, and it seems like the team are heading out to site too.

Hopefully a few of the teams jewellery can ‘accidentally’ fall off into the samples before they are sent for analysis.

In all seriousness thought, this has been dire. Whilst the raise takes downward pressure off the SP in that regards, it’s now about how that money is used to build the results and more importantly change sentiment. I think it’s more of the latter than the actual quality of results that are needed but clearly good results will change sentiment.

There will no doubt be some good coverage of their site visits and who knows maybe Tim will swing by South Africa to visit some of the Barrick boys to discuss a ‘deal’.

Either way, this year is starting to feel a like a dud with me seriously hoping 2022 isn’t a repeat of 2020 waiting for results.

Anyway enjoy the US. Looking forward to F1 this weekend, catch up soon.

Hey Kutzz, hope you are having a good weekend. Seems like things are moving sideways at the moment, which I guess is better than moving downwards!!

I say Tim complaining about trains being cancelled last week which hopefully means he had some big meetings in London planned.

There were also posts on LinkedIn and Twitter from Oriole reiterating the potential.

Given the raise is done, there’s hope that this is genuine PR to prep people of some news coming soon.

I am seriously hoping for it, and that it is strong. I even saw some single/low post people coming into the forum last week.

Whilst I hate it, I’d actually appreciate a bit of a pump over the next few weeks, but certainly think I’d be inclined to dump this time, or at the very least reduce my exposure.

Either way, hope you are enjoying the US and not working too hard.

Catch up after the Mexico GP. I actually want Hamilton to win, not because I want him to win the title but to keep the battle going. I actually really want a strong race from Lando, there is still a ‘slim’ chance of him getting 3rd.

Anyway, catch up soon.

Kuttz, hard to say for you from a work point of view as I don’t know enough, but Lewis / Angela, I’ve always had a ‘work wife’. Generally spend more time with them than I do my own family.

Never been to Miami, but hope you manage to get at least some small amount of time to experience it. My only real reference is movies and one of my work colleagues who lives there and true to stereotype she is a loud and vibrant lady with Cuban heritage. Enjoy the time there.

On Bibemi agree the team are very much trying to drill to maximise the data and establish what they have rather than hunting for one shot gold pipes. Hoping it all plays out and they can prove a really sizeable asset, but like you happy for them to send a few drills straight down to pull out some shiny stuff.

Was thinking you might be able to get out to the F1? Just had a quick look and my US geography isn’t great. I knew Miami was out on a peninsula and Austin was still easy but it’s a 3hr flight!! That’s like me going to any of the European GPS:) So assuming work permitting you’ll find a bar and a few Cuba Libre’s.

Anyway have fun out there. Catch up soon.

Hey Kutzz how goes it?

I only looked on LSE and yesterday morning when I sent the message it hadn’t updated the shares in issue. Yet today it has. I see the fact the SP us stabilised as good news as essentially we’ve maintained our value. What will be interesting is the value of the company assets growing with good use and quality results from the funding. (Finger well and truly crossed!!)

I can’t say I am not nervous about seeing similar results to the first batch from Bibemi, but hope that gold itself also rises and some love comes back to the sector as a whole. Still not sold a penny and don’t look in too often now as the loss is still eye watering and haven’t had much free cash to invest elsewhere this year. Likely max out the wife’s ISA before end of tax year so will start looking in the New Year for something there and hope that by then we will see some positive direction of travel here but more hope now than a positive feeling on ORR.

F1 hotting up. I think this year has been good for the sport but can’t say I love Max or Lewis. I am gutted that with Bottas’ win the slim chance Lando had of getting 3rd has all but gone. But you never know, a bad quali from Bottas and wipe out at first corner and maybe Lando can get close again.

Will drop in after Austin to see how you are.

When are the new shares from the raise admitted?

I had been feeling ‘ok’ that we’ve managed to ride along the past couple of weeks without any further drops and am still hoping that over time with news we can push on now the raise is out of the way.

However when I look at #shares in issue it doesn’t look like anything has changed? The RNS said ‘around 4th October’. We are a week on but don’t see any changes.

Am I looking in the wrong places or has it not happened yet?

Agree Kutzz, properly painful. The majority of news has been released for this year. I always knew a raise was coming as that is what Junior miner's do. But hoped we would have at least doubled our money by then given the amount of news coming in 2021. The results we not as strong as everyone had hoped and I personally see getting a majority i.e. >50% of my money back a win on this one and don't expect that for some time.

Not feeling sorry for myself though, I knew this was a gamble and it hasn't paid off. It was my choice, nobody forced me and just have gamblers remorse...

Hey Kutzz, I've not left I'm still here and in. Really enjoyed the last F1 race, but not hopeful of much action at Sochi after Saturday's qualyfying.

In terms of ORR, we knew this was coming as that is the life of a Junior Explorer. Raise some money, buy a license, do some exploration to increase the value of the license, sell the license and repeat. Some obviously JV, or retain royalties which they use to reduce requirements for more funds, but this is the life. I think you had to be blind not to see that a raise was coming for 22. The interviews done TL and others were very careful with language explaining that there is no issue with completing the Bibemi work.

I like many other investors on here am MASSIVELY disappointed that the SP is where it is (including the board I expect). I genuinely have been impressed with the level of news flow over the past few months. The content can always be better and was disappointed with the latest Madina Bafe results, but like other mentioned the original results for that location were strong.

It always was a gamble for me, for people entering now at this price I feel it would be a gamble worth taking. However in my position, after the impact of news on the SP, the quality of results and the depressed nature of our sector I would now be satisfied to come out break even at the end of next year, but believe with this deal there is certainly opportunity for that to occur. It's just a shame that a signficant portion of my portfolio would have been locked in for 2yr's for no gain. And there is still the fact that this is still a gamble.

Specifically for this deal, I see it as a sensible approach to taking the negativity off the table such that the board and team can focus on what they have, i.e. a MASSIVE license portfolio in Cameroon with a degree of confidence that within the license package there is gold and they just need to prove it to the market. Any positive outcomes on any other license or JV is a bonus, all eyes for me are on Cameroon.

I am still in, still back the board, but am disappointed with the SP regression in 2021.

I am sorry for others that like me have a big 'paper' loss on this investment, but certainly not sorry for myself. This was and is a gamble but just upset that in my opinion it's going to be another year to see if there is any win here.

Good luck everyone. Kutzz/others, I genuinely feel better for not checking the SP every day or checking in here every day etc... I've read the RNS's and listened to the interviews because I have so much invested in this and it would be foolish not to understand what has been going on. But have been silent on here because I've been having fun doing other things than worrying about ORR.

Have fun, lets hope the next RNS sets off fireworks.

Hey Kutzz. Wow what a few weeks for news. I was critical earlier in the year for lack of news/extended dates (perceived or otherwise) and the board really are ticking like a clock this qtr. The JORC was a surprise to me, but clear the team are doing anything they can to get noticed in what is a depressed market.

Basically really impressed with the team and severely disappointed we’ve not moved. I still hold all my shares but pleased to see TL trying to catch us both up :)

The answer on funding made sense too. I just wanted to know if we could get the next Bibemi campaign done before we needed more money and looks like the answer is yes. Hence we have 3-6mths to get some IIs interested in us or some JV initiatives going and would hope we get some significant movement on the SP in the coming months.

Like others have said in the near term we just have the remaining results from Senala now (plus any news on Turkey/other projects). Hence think it is more a market change that will get things moving as we can’t do much more.

Could be worse we could be running F1. What a shambles. The weather ruined the GP and the officials made a mockery out of F1. Joke! Hopefully we will get some racing this weekend.

Anyway, ORR - All shares still held and again just not going to look that often. Not sure what is going to spark it, but I do feel it could be a big move when the fuse is lit. Annoyingly for us, it’s going to take a very big move for us just to get back to where we started. For people joining the party now they should be in a fantastic place.

Catch up again next week after Zandvoort.

Couldn’t stay away with all the news Kutzz.

Completely agree, the board are throwing everything they can put to the market to get some positivity back into the company. I praise the team for their efforts. Also agree that this qty doesn’t work out for a stand alone mine but is a significant statement as there is clearly more there. Also until we get full confirmation of IAMGolds spend etc… we can’t say for certain they’ve earned their 51%. However I am almost certain that they will extend another 2yrs/$4m to earn the 70%. The timing works reasonably well for Boto. I also expect both IAMGold and us will be discussing with the Senegalese officials if the license can be split. I asked this question directly in the recent Q&A and Bob said current license terms don’t allow but it’s something that could be explored.

I have also questioned funding numerous times. Whilst we do have cash in the bank we do not know what the 1H drilling cost for Cameroon was. We should see this in the 1H results which could come anytime soon. The news flow and quality has been good in Q3 but the impact on the SP has been negligible. There is still a concern that with all the effort, RNSs promoting presentations etc… as well as news that there has been a concerted effort to get visibility and the SP higher. In a junior explorer by definition with no product, funds are needed to explore. A good amount of ‘exploring’ has been done and continues to be planned for the rest of 21. We have 2 x £235k investment packages approved which if needed will help and if we can drive the SP above 1p for a period of time (can’t rem how long it needs to be) Bob’s accelerated warrants come into play.

For me there is concerted and calculated efforts to drive ORR visibility and SP higher with a view to get funding in place for 22. This isn’t a bad thing as I believe Bob is maximising/tracking every dollar spent and TL is building the plan etc… but does get me thinking that they want the SP much higher before they show the state of finances in 1H results. So a find raise and results get announced at broadly the same time.

In summary, good job by the team in Q3, eager to see the financial details and hope that what Claire/team are asking for exploration wise and what we can fund are well aligned to drive us further along in Cameroon such that multiple partners want a piece of us.

With the other assets, this SP to me is severely depressed but it’s only worth what people will pay for it, just hope the recent flurry of news gets more people engaged and interested. Still a lot more to come from ORR!

Sorry Kutzz, I wrote my msg. Before seeing yours.

Basically I too don’t have any issues with the results. Just disappointed like I am sure the board are that the SP is where it is.

Despite them talking a good game about Q4 etc. I honestly don’t see how much further work we can continue to fund but very happy to be proved wrong by Bob on the 1H results that could come out anytime.

Just hope Claire and the rest of the geologists recommendations for targets aren’t compromised by a lack of funds such that we get results that no potential JV or partner can ignore. I am sure TL is leveraging all his contacts as he too has a lot riding on success here.

Took the decision to not keep looking at the daily SP or the forum and good when I dropped back in to see some new names.

I would be pretty confident if my average was down here!! I think to get it down under .6 I’d have to issue a TR1!

I seriously don’t think it’s market news that is going to make a difference in 2021. It will be TL and team demonstrating to potential partners and JVs that the value is in Cameroon and together it could be unlocked.

For Senegal I think the results are somewhat irrelevant now. My personal take is IAMGOLD will exercise their extension to pump another $4m in over the next two years and that would suit their Boto timeline perfectly.

Fingers cross TL gets us some great news soon and that Bob negotiates some amazing deals for the next drilling campaign at Bibemi.

But yes, still here just on the sidelines. (Albeit now in Madeira for a couple of weeks yeah!! Sunshine!!)

Catch up soon Kutzz, probably won’t check back in for a bit until after Spa. We can dissect what happened on ORR and the Max Lewis battle then. Look after yourself.