Member Info for Moneymaker2015

It’s their presentation and an interview on Proactive Investors. They have said the valuation is due early December. Is a bit strange because even 30 business days from 12th Oct takes us up to 20th Nov. The share price has obviously dropped as it’s put a couple of weeks on the date.

65m holding in Vast! Brave man, must break you every time another billion shares hits the market.

Truth be told, I’d agree with your $150m valuation. Once positive production updates start coming in, along with positive cash flow news. I think this will start moving.

Well today is the 30th day. Assuming no extension has been agreed/discussed, the BoD should know today what their likely route forward is. I’d be very surprised if we get any news today, but potentially tomorrow, if it’s as simple as receiving the valuation and offering 90% of that figure.

This is getting quite intense knowing how close we are to company making news!

There’s no set percentage, it varies with; every sale, stock share price and number of shares in issue. Usually, the biggest gap is just after the offer is announced. Using the 90% someone has mentioned. The first day it could be 90%, then the outstanding 10% will gradually decrease until the last day on the market. You’ve got to remember, we could be on the market for another month or two after an offer has been announced.

The thing is, if we get the news this week and it is indeed positive. The share price could very easily be double this time next week. Assets are huge, production very close and non-dilutive funding agreed. Only thing outstanding is the purchase price of the other 50%.

Well they have the formation tends to be good for mineralisation. The downside is that they’ve found it difficult a to obtain the core samples. It’s neither good nor bad. We’ll just have to await the results and see what the outcome is.

What a very peculiar reason wanting to sell your holding here. Out of all the macro elements and other potential risks, you’re worried about Joe Biden becoming president?

Considering SRES is the only share you’ve ever commented and your first post not long ago, maybe it would be worth you reading up on mining juniors a bit more and seeing what the dominant high risks are. Moreso as Biden doesn’t actually have anything of relevance here to ‘push through’.

Well, this coming week BMV will know the independent experts valuation (if they don’t already). Ourselves may not get news this week, but the BoD are certainly going know what’s happening. This week could be transformational for the company!

I’d seen that article on Auric in the Financial Times earlier in the week. Just think; 800k oz at today’s current price is circa $1200 after costs. That’s $960m! If gold prices keep climbing too we’ll be pushing on the $1b mark very soon too. Can’t help but think our mcap is going to rise significantly once this purchase is concluded.

Kev, you’ve got near £90k in SRES?!?! Whilst I do think this is a very got punt, hats off to you for holding your nerve. I would’ve bottled it already and took a huge chunk of profits out.

For me;
35p will be life changing.
55p I’ve got a nice apartment in Spain on top.
Anything over that is a bonus.

Utah’s was a very good and low cost means to revenue. I know a few people aren’t happy about the dilution it caused but long term it’s going to bring in a hell of a lot more profit than we had to raise. As with this mining season, the BoD are already aware that we can mine additional material so they have sufficient stock for winter period. This is going to be standard practice going forward too.

I know Togo is where the big money is, but Diamond Creek alone is worth more than our current mcap.

The main thing here is that production is expected next spring. That will be the biggest mile stone in terms of reducing risk. After that, positive drill results elsewhere would keep nudging the share upwards.

Being on the AIM, the share price can rocket so quickly. I jumped in UFO in April at 0.08p and about 3 weeks ago that had risen to over 3p, off the back of next to nothing. It’s back down to 1.5p now, but is a prime example of how quickly and how far share prices can move. I do think if you’re willing to hold on to SRES a couple of years or longer, there’s potential for some very good returns.

Hopefully the EP won’t be too far off now. Whilst there’s still sufficient funding available, we’re in a position to avoid any future dilution. The main thing that attracted me here originally was how few shares are in issue and that it’s so close to production.

Don’t be disheartened if we done hear anything immediately after 11th Nov. That’s the date the BoD have to receive the news by.

The next RNS is likely to be a very interesting one. I’m hoping it reads along the lines “We can fully fund 90% of the valuation, the purchase has already commenced, there’s no dilution to shareholders and production starts January 2021”... A little hopeful, but you never know!

There’s always a few that get caught each time this spikes. It will have happened this morning too. You can already see the mass of sells coming in as many have doubled their money this morning. It’s like Groundhog Day holding INSP long term.

It’s definitely an exciting time to be a shareholder. I do admit, I’m a little surprised that there hasn’t been much movement in the share price considering Utah is up and running, extracted 50% more than planned and also 20% of the y1 forecasted sales in only 2 months. That is huge news for a new producer but the sp hasn’t budged, if anything it’s stayed on a downward trend.

Hopefully if we can get Togo over the line we’ll likely see a surge in interest here.

I thought this the other day. Granted as PI’s we have no way of knowing the value the independent expert is going to put on the mine. The BoD seem confident they’re going to get it at a good price.

If we can avoid any dilution this should in theory rocket the share price. If it does require dilution, in 5 years the mines are going to be bringing in circa $100m/yr after costs, so the mcap and ultimately the share price should still theoretically rise.

It is a little baffling why there’s so many sells at a transformational time, as the only way the share price is likely to suffer would be if BMV couldn’t obtain the funding for the purchase, as we may then have to wait for their 50% to be sold before we can go into production, but it doesn’t sound as though that is likely.

Short term, this is what grabbed my attention;

‘At the end of October 2020, the Company will publish a JORC 2012 compliant Measured and Indicated Mineral Resource for BPPM‘

News tomorrow / early next week then?

bcl, I think you’ve hit the nail on the head. Unfortunately, for me now, both KAT and MED are meaningless to KIBO.

KAT are still a long way from production, even if they are able to finalise project funding next month. They don’t even have a DFS for their Blyvoor project, so a raise at some point in the future is inevitable. The outcome is that KIBO’s share will be reduced further.

MED, to me is KAT all over again. Once it lists we’ll only have 51%. Don’t get me wrong, I think the lease payments are a good idea as a means of paying the EPC requirements. The drawback is that until it’s paid off (80 months later), there will be very little profit, if any at all. The result, once again, is that MED would have to return to the market to raise funds for ‘general working capital’. It’s a shame because once MED was first mentioned I thought it was a going to be great to have a number of near term projects bringing in revenue. All I can see now is that KIBO’s stake will gradually reduce over the next few years.

LC needs to focus more of his time getting Benga over the line. They’re looking at increasing its potential capacity to 400 MW. This puts it inline with one of my other holdings OPG, who have shown how profitable having just one 400 MW facility can be. Benga and ultimately KIBO definitely has potential, it just needs to get up and running.

Gambling on shares as a means of saving your business. Sounds like a risky strategy.