The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Cash balance at 31 Dec 2022 £1.56m
Cash raised last week £1.42m
Approx £3m cash (less whatever admin costs).
Current MCap £4.62m ???
at £6m MCap, Cash component £3m (50%)
at £8m MCap, Cash component (38%)
at £10m MCap, Cash component (30%)
As part of my research, i specifically look for very Undervalued explorers that have a High cash vs MCap component.
I expect strong price Re-rate here in August ahead of upcoming Drill programmes at both RedSetter and Cottesloe.
DYOR. GLA.
TimberTrader
Yes. Looks amazing. Huge upside ahead.
Even before Drilling starts at both RedSetter and Cottesloe, both of which look Worldclass with proven discoveries around us, this is currently trading at well below Net Asset value which as at 31 Dec 2022 was £6.533m and after adding the £1.42m cash would jump to c. £8m.
According to my calculations even after adding the 59m shares, total shares still only 258m.
Right now as it is, this is trading approx. 34% below Net Asset value.
Should be minimum 3.15p
Drill Programme covers both RedSetter and Cottesloe.
RedSetter being Telfer analogue is HUGE.
Just when you thought RedSetter was sexy...look at the Massive Upside for COTTESLOE. Why do you think Wishbone were quick to add Cottesloe East also to our acreage with 50 Blocks now.
"The Cottesloe Project contains a basinal syncline of the Broadhurst Formation which hosts the nearby Nifty world class copper deposit
· The tectonic setting and lithological package are similar to the Mt Isa Formation and other sites in Europe and Canada which have major deposits - this style of deposit contains significant proportions of the world's base metal resources".
Uktrader6
You are just a disruptor and p1ssed off now coz you did not get back in when you should have.
Keep waiting for your 1p then...
Uktrader6
Better close your SHORT position while you can.
"I said i would not average down till 1.00 or when they get first confirmed assays ."...uktrader.
First confirmed assays...see you at 15p then.
Negative Doommongers are on every board. New investors are needed to take things forward. Sorry to take over your turf uktrader.
I have been in stocks that have been very OVERSOLD and then 10 bagged despite the resident doommongers residing.
Market is forward looking and WSBN with circa £3m cash vs current low MCap is in prime position for a Huge rebound. Key is getting in early.
ResSetter being Telfer analogue is Huge.
Cottesloe and Cottesloe East is a large deposit.
Maiden drilling last year confirmed mineralisation on both deposits...Gold, Copper, Lead, Cobalt.
EEE also raised at 2.25p just in March and touched 5.10 last month.
Expect a rebound here soon.
Added some more at 2.20
Way OVERSOLD and below 2.40 placing price.
MCap £4m is way too low
Net Asset value £6.5m (as at 31 Dec 2022)
Uktrader.
Respectfully disagree with you. You have to do some sort of comparison with the peers.
Its all about research, future Outlook and bit of intuition and some luck added into the mix.
Seen far too many Company bashers. Nobody knew about GGP 10 years ago. Look at their last 5 year chart. Look at that price mountain.
Dec 2019.....2 pence
Dec 2020......36.90 pence
There were far too many Gervais Heddle bashers with all kind of ridiculous abuse thrown. Suddenly after Havieron discovery Gervais goes from Zero to HERO !!!!
After Havieron discovery and NEWCREST coming on board MCap touched £1.4 Billion (pounds) as they fast tracked drilling Havieron. GGP now has over 5.13 Billion shares in issue.
RedSetter is in Prime location near both HAVIERON and TELFER gold deposits.
WSBN only has 258m shares (once 59m added).
Biggest Price appreciation comes during Exploration / Discovery phase of the Life cycle.
4.50p hit towards end of July was just a warm Up preview of how fast this moves when on the go.
Soon as RedSetter drilling start date gets announced, this will do +200% rise in a matter of fews days of RNS announcement when it lands.
Any day now.
We at the lows. Canadian investment is on.
In parallel if we get JV partner for Cameroon, that one single RNS will turn things around in a flash with a HUGE re-rate here.
We wont need Lanstead deal. Can be cancelled as JV partner would come in and do all the heavy lifting.
Slowly slowly.
Excellent post. Agree with the explanation.
Added more yesterday. Few obvious reasons:
Bibemi on course to Multi-million oz deposit
Eastern Cameroon licence looking strong also
Eileen has invested £195,000
Senala JORC resource to grow with further drilling to start by Managem (ORR on free carry)
JV partner talks ongoing.
MCap only £3.5m ???
Massive Upside from here onwards.
Farm Out / JV is a huge price catalyst.
Who knows Farm Out deal might turn into full Buy Out Offer...if "The Price is Right" 🙂
Lot of scenarios on the table.
Like the Analyst price target 0.45
0.45 would be a good start.
They raised bit of Cash buffer which is very prudent OR they might be looking for more aggressive Drill programme at RedSetter given the 2 new highly prospective zones within and above that Telfer looking Dome Expert Geophysics highlighted recently.
I read the full Annual results and they were funded with around £1.6m cash balance. Now with extra £1.42m cash, company now sitting on £3m cash balance.
MCap with the extra 59m shares added would become £6.2m of which almost 50% is CASH.
That sort of CASH vs MCAP % is unheard of among explorers. MCap should be lot higher multiple of Cash. Rise here is inevitable. Soon as the Drilling start date RNS drops in this is going to really steam ahead with such low no of shares in issue.
Buys coming at 0.119
0.12 should go soon. just needs a little nudge. Should zoom higher to 0.18 - 0.19 bracket.
Chuditch monster resource so close to monetisation after all these years waiting. Time has come.
Another crack at 0.12 in progress now.
Once 0.12 cracked expect a good run.
Chuditch Farm Out RNS should rocket it to 0.57
Added more at 0.11
Soon this low price will be history with lot of action coming up at BOIL.
With Chuditch Farm Out update due, this should gain traction.
When RNS lands then this should really Rocket.
Just warming up....
MePension.
Like your figures. Average of those valuations comes to 2.43 pence a share.
All in good time. £100m MCap first milestone.
Yes Gordon. We should soon be firing up on both assets - Chuditch and Dunrobin.
Upside is MEGA.
5.5 Tcf is just for Chuditch discovery which would be around +1 Billion barrels Oil equiv.
If you further add surrounding acreage, then estimates run around 3 times.