Member Info for Moneymaker2015

That’s good to hear. I been waiting around 3 years for this date! Hopefully we’ll get a decent update next month with the BoD’s planned road to production.

Yeh that’s what I’ve been keeping my eye on lately. I’m just a bit sceptical now their cases have started to rise. It would be surprising if they lift restrictions now they’re only just starting to be affected by the pandemic.

After it being around for 2 years now, South Korea is finally getting hit with Covid-19. Until three month ago it’s highest recorded daily number of cases was less than 6,000. Now it’s getting 300,000+. Awful timing as BMV looks commence work in April.

Given the current mcap is only £2m, a £20m-£40m debt facility on projects with an IRR of between 12% to 16% is outstanding to be fair to Rolf. AdviCorp obviously see the bigger picture in that energy prices are continually rising and as countries head towards carbon neutral, projects like EQT’s are only going to become more valuable.

It will be even more profitable if Goldman Sachs forecast is correct. 6-month gold price is forecast at $2500/oz!

Just think, if/when BMV hits its 100k oz annual target it would have an EBITDA of over $150million at a $2500/oz gold price.

https://www.kitco.com/news/2022-03-08/Goldman-Sachs-pushes-up-its-gold-price-forecasts.html

Yeh I just saw it at $2,055/oz a few minutes ago. Was thinking, at a price of $2k/oz, BMV will bring in $20m for every 10k/oz it produces. That will be over $10m of profit based upon the anticipated first year production target. Odd to think our mcap is still only £13m.

I’m keeping my fingers crossed that the news next month confirms a contractor has been selected and provides an actual commencement date, rather than saying they are working towards production or along those lines.

Well this is welcome news, which if all goes to plan will give us a nice spike in revenue.

What’s the rush? It’s more important that things are done correctly, rather than expedite the drill and it not go to plan.

The one thing I’ve been wondering is if BritNRG is successful in its counter-claim, would the default of that mean that MNRG is in fact a majority shareholder of BritEnergy..?

The whole thing is nonsense. Had MNRG just left PR to things, yes it wouldn’t have all been above board, but MNRG would’ve been in a much better position financially than it is today.

The Philippines asset has been written off in the accounts. I can’t imagine it will appear on the website unless they are given the go ahead that they can develop it. It’s good news that the ban has been lifted though, that assets alone is worth more than our current mcap.

Nice to see CHAR is slowly building a little empire. You can’t help but think there’s a lot of upside potential here.

Very positive news indeed. Glad I had a top-up when the share price dipped last week.

More good news from MNRG then…

At least they’ve finally put a date on it. It will be interesting to see what the economic model comes out with at current gold prices.

As you say, there’s chance the market won’t take note of this news with what is going on elsewhere.

It’s definitely nice to see things moving forward here and the spoil heaps appear to be a viable option.

There’s no set 1g/t is or isn’t commercially viable. You could have 0.5g/t that’s viable and 2.0g/t that isn’t. It depends upon volume, depth and recovery. With this being in spoil heaps there’s a much higher chance of it being viable, but it will depend upon volume across the various heaps. Todays results do look promising though.

That price of gold relates to the feasibility study they undertook a few years back. Basically, at the 3rd year mark, if gold was at $1260/oz, we would have an NPV of $54m.

As there would be another 50,000 oz with $440 profit ($22m additional profit), the NPV would be significantly higher than $54m.

It would be nice if they revised the NPV to reflect the current POG, but in the end of the day getting the gold out of the ground is more important.

Yeh I dipped my toe in here a couple of weeks ago when it hit 0.3p. Had been watching it for a while and considering it’s not just a one trick pony, it will be surprising if this hasn’t moved up much in the next 12-24 months.

There’s a lot of people only looking short-term at the moment. EUA are looking to sell its assets in Russia and has already received proposals from a number of parties. Yes, some, if not all the parties may retract the proposals whilst the Russia / Ukraine fiasco is resolved. The assets are still there and EUA has the financing package available to extract them. Not sure if anyones noticed that China is sitting on the fence about the issues with Ukraine.

Long and short of it is, any sanctions imposed won’t last forever, the globe desperately needs the resources that EUA has in the ground and the BoD won’t just suddenly accept a low ball offer because it is worries about Russia’s short term economic state.

Unfortunately, the world is driven by greed. With oil and metal prices rising, any sanctions will gradually get lifted as countries realise that they need the resources that Russia holds.

It’s understandable too with an update due at some point this week. Hopefully it will be a positive one too. Although, SK has only lifted some Covid restrictions over the weekend and not all of them so I’m not expected too much to be happening if truth be told.

I was just looking at the new presentation on the website. Page 8 caught my eye in particular. The timeline of gold mining in South Korea shows “2022 - Bluebird reopens the Kochang mine”.

The NPV of the projects is shown as $54m, at a gold price of $1260. Today gold is over $1900/oz. That is a substantial margin.

I like that the summary also says “Numerous further opportunities available – over 1,400 abandoned gold mines in South Korea”. This was something they had mentioned a few years back, so it’s good to see they’ve still got it on their minds.

It’s reminded me why I initially invested here a few years back.

Before I went to the gym we were near to top of the losers board. Come back from the gym and we’re at the top of the risers board! I never thought a Zoom meeting could be so popular haha