Member Info for Moneymaker2015

It’s the way the squirrels conduct themselves I’m not particularly fond of.

Moving 2.82% to a spreadbet for example, it’s not surprising they’ve gone a little quiet…

Yeh they blocked me on Twitter a few years ago because I commented that their valuation of BMV seemed a little ambitious. I’m a BMV shareholder too, so want a high share price, but I’d prefer research notes to be informative and have realistic valuations.

It’s probably a good think we’re not hearing from Align, especially what they did over at IRON last year. They requested a General Meeting to oust the BoD as production was taking longer than hoped. It decimated the share price the next day. Shortly after, the resolutions demanded by Align failed and IRON we into production. Problem was they had to do a huge raise at the rock bottom share price, in order to purchase a smelting facility. You’ve got to remember, each time Align provides a Research Note, they usually get a bucket load of shares for free.

They’re probably trying to find a way around the issue, for example, creating a subsidiary in another location that can be used as a cash shell. There is options available, it’s just not a quick fix.

My concern is the longer this goes, there greater the risk of losing the buyer.

“remember all the names in Eurasia and never, ever touch anything they are involved with again”

What an odd thing to say.

Considering I’ve already banked over £150k here from an investment of £3,500 and still have a decent amount of shares left over, the BoD have done a cracking job to date from my perspective.

Just think of the potential dividends once production hits the 100k oz gold target too, not to mention any revenue we may receive from Batangas also.

I imagine we’ll start seeing some more interest once the TMUP has been received and production commences.

Yes, we’ll hopefully be receiving some positive news in the coming weeks/months:

- Confirmation of first production from the smelting facility in the come weeks.
- Confirmation of sale of materials (shortly after production).
- News of 2nd and 3rd furnaces being up and running by April.

Hopefully we’ll also receive some clarification on productivity/targets and the economics of the project.

Should be some decent news flow in the coming months as we’ve just commenced production.

Well, we do have it, just currently can’t do anything with it. It’s such a waste of a good asset and unfortunately is completely out of the BoD’s hands.

On the bright side, Diamond Creek should tidy us over until something happens at Nayega, or another opportunity arises.

Yes it will be interesting to see what deal comes out of Batangas. Colin indicated at a farm-in, but didn’t indicate at the value of a deal to BMV. Either way though, progressing any of the projects toward production right now is a positive move.

Considering at 30th June (the date of the results) all funds were dedicated to specific tasks to commence mining and purchase the smelting facility, it’s rather obvious that expansion would require additional CAPEX and ultimately some form of finance. This needs to be identified as a potential risk.

On the bright side, now the company is mining and the smelting facility due to start producing, if it is a cash positive operation, CAPEX may be financed from operating profits.

I’d always take what Align says with a pinch of salt. You only have to look at the mess they caused with IRON earlier this year to see they’re in it purely for their own gain. For example, this 2023 picks discusses Gubong:

Instead of discussing the KORES resource estimate of 550k oz Au, it only mentions the BoDs “guesstimate” of 1.3m oz. They also discuss the production target “ outlook is for MORE than 100,000 oz of gold per annum”, rather than as per the last RNS “target of 75-100,000 oz”.

Ref; Apex Mining, yes this is something Charles and Colin have mentioned a number of times and to be fair.

Whilst I’m sceptical of Align’s ramping of stocks, I like their 15p valuation. That would give me a nice little sum of circa £315,000! Hopefully, what they say will come to fruition.

It wouldn’t be surprising, PJ seems to do business in a very similar manner to LC. They way they just seem to create all these subsidiary companies and IPO them is the worst form of dilution. LC for example, had everything in KIBO, then these assets got split between: KAT and MAST. The value of each company has been decimated. POW’s one I jumped out of last year, fortunately with a small profit, because it didn’t seem to have any focus and they kept using terms like “special purpose vehicle”. This is another term for significantly reduce shareholder value by giving part of the assets away. PJ is just as bad as LC.

That’s understandable, whilst it’s still a distance in the future, there’s a lot of value in the PG metals.

Is nice to see this level of investment from the BoD too. Indicates they’re anticipating a rise from here.

I can’t believe how much of a shambles this company has now become.

Back in 2019 they were talking about starting mining operations at Gold Ridge and monetising the asset. It’s now probably further away from production than it was 3-years ago and requires significant further work any ultimately cost. The Kyrgyz assets is currently worthless. The plant in Italy with Eqtec will bring in very little in terms of revenue to MNRG. The only thing that the company had going for it was the deal with BritNRG, which would be worth a decent sum right now, but we all know how that turned out due to Rolf’s relationship with Rocco deteriorating.

Now, the BoD are buying up shares, to increase voting rights, just in the hope of keeping their jobs. It just shows how much of a Mickey Mouse company this has become!

The announcement reads:

“can now confirm that all material underlying agreements required by the Debt Purchase Agreement and Share Purchase Agreement have now been agreed and signed”

‘Agreed and signed’ is confirming they have contractually resolved all the required underlying constituent elements. I wouldn’t say it’s ambiguous as it’s straight to the point.

This isn’t a bad RNS. Some will see it as the BoD just doing what they are supposed to do anyway, whilst yes you aren’t wrong, at least now they have something driving them to do it within a given timescale. Using myself at work as an example, I do my job as required, but we get a bonus each year, the size of which is dependant upon how well the company does financially. We had a discussion just yesterday about the impact it has on the company and our percentage bonus, just if each person does 1hr extra fee earning a week. After if, we were all in agreement to raise our ‘target’ weekly hours by a week. Incentives do work. Plus, for investors, it’s increases the probability that the timescales will be met.

Nice concise and positive update. Reduced risk and no impact on operations as we go into production. That’s what we like to see just before Xmas.

To be fair, we have discovered something… how to spend funds and have nothing of worth to show for it!

Not sure about the worst investment of 2022 over the entire stock market, but it’s definitely the worst performing one in my portfolio.

I’m of the same thinking as you on that one Marc, that once first sales are announced (if not sooner), there will likely be a bit more interest here. I’d like to think it will do well in the long term too, but as you say it’s the history that makes me unsure. I’ve never been able to fathom why such a sizeable JORC compliant resource with a positive DFS hasn’t been picked-up on the cheap by a company already producing, as a means of additional revenue. To me it indicates some incapabilities from the BoD that they were unable to find either a buyer or partner for this project over the years.

Yes, it’s a positive update. Particularly;

“continuation of shallowly northwest dipping sedimentary beds, hosting Sandfire's Kronos occurrence, that propagate onto Kavango's PL082 licence”

Granted, we still need the drill results but it’s sounds as though they may be on to something. If this turns out to be correct, the CSAMT data will be extremely valuable going forward.