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Tis not me.

My posting history never mentions placing prior to the event. Why? It is merely speculation and the old acorn. Once a placing is done, it is RNSed.

As for placing, that is one for everyone to work out for themselves ie how much the co needs going forward so that one can see how much give there is in the share price.

I think the gent you are on about is a chap called Ri.... He was on REM and used to scare the daylights out of the the .... If one looked at the actual share pricing then on REM in the early days, it was modest as the drills just got started. Another chap was called Rose something but he is no longer on the members list?

In terms of placings, if one looks at Solgold. They had £50m funding but I think it has now gone up to the £100m mark but kindly check as I have not noted the latest.

However, from the funding, it resulted in a mkt cap of nearly £600m and an NPV of X.

So, in some cases it worked a breeze ie funding to mkt cap.

By the way, my last post got cut off due to the limitation of the words allowed. So, I meant that loans also have to be taken into account from the mark-to-market which is norm ie what you own minus what you owe also to get a new figure.

As I posted isdeer said REM was his greatest share regret. I do not think he*s found any like REM. From £1m+ cap to £95m - it was reported as 65 times because very few managed to get in at the £1m mkt cap when DL had just cleaned out Zest plc.

These days, no one has seen that type of bagger. Even Solgold*s bagger was 45 x ie 1p to 45p.

All history now.

So, isdeer is trying to look ....as he said in his post.

WHAT HAPPENED? - REM
At the height, REM was around the 2.25p mark from 0.04p [early days of REM]. The co commanded a mkt cap of £95m based on Sonora Lithium project in Mexico.

As BCN [Canadian listed] was looking around for funds to drill, in stepped David Lenigas of REM.

That*s how the story began. Since the funding was from REM, Mr Lenigas did say on Twitter not so long ago that REM financed BCN at the time.

VSA Capital has given BCN a potential target price of around the £1 mark +. Currently, BCN has a market cap of £62m with a share price of 45p. Prior to Gangfeng JV, BCN was 20p approx. So, the mkt cap at £1 per the VSA T/P will bring the mkt cap to around £120m +.

Anyone looking on ie shareholders at the time would logically conclude that REM would take over BCN as they would need to raise some $400m then to start the Sonora mine. One would logically conclude that if BCN could not raise the initial capital, then it would need the help of REM, London based to obtain funding etc.

So, it was no surprise that the market gave REM a mkt cap of some £95m attributable as it was logical ie REM to take over BCN at £1.

However, that was not to be. Why, How - no one knows the story of what happened between BCN and REM. Well, I dont know what happened as I dont attend AGM*s etc.

REM essentially was going on to be a producer and miner. When the takeover was rejected, it was rather difficult then.

So, REM evolved into an investment co holding lithium stocks etc.

However, the lithium stock have been under pressure for some time now and this is commonly known. Even the Aussie co mkt caps have fallen.

So, the lithium portfolio is awaiting better times and since they are near or next to the known mines like Baldhill , Australia, it means that they could wait until their deposit runs out or if conditions are better, they could start the process of...?

So, it is logical to know look for an immediate source of funds via Amapa where they are going to sell the stockpile. From where I am sitting, the Spore private equity group may be more finance based. So, they may be looking to KDNC to provide the legals, technical report and the actual ops.

From observation, it would appear that KDNC wants to be in the driving seat eg Amapa. Perhaps, the Sonora project illustrated the difficulties of going the JV way? I dont know but that is merely observation and logic?

THE FUTURE?
One never knows what can turn up. For example, SXX went round and round for a bit of time until they found the Yorkshire potash project. Times are a bit more difficult currently due to the trade war etc and it affects commodities in part.

However, the Founder did introduce Glen to MMS and Cam did tweet that KDNC did introduce European contacts to them? Cam also showed pics of himself at KDNC London and having dinner with the Chairman of KDNC in London. MMS is listed in Canada.

So, one cant tell. That*s only my view as I only go by public info.

Tis not me.

I do not attend AGM*s in London [REM now KDNC] nor the party. I have to rely on others to tell us on the old REM forum what happened. Tradecraft took notes and he posted it on the London South East REM forum. There were tons of people in those days eg Too Hot To Handle, Borrow Money From Mummy ? Pensionpot*s [old timer during the isdeer era] wife did not allow him to put everything into REM per his post. So lots of memories.

It was more co-operative then. Phalen did the spotting on the maps of Sonora that the deposit was more continuous and hence we knew it was bigger than just Ventura belonging to BCN. The other old-timers said it was just a trucking operation since they observed from the pictures the deposit had a more surface expression. Then, there was ? who told us how long more were the placing shares going to take for it to be fully sold into the market.

My, the posters on REM [KDNC] broke the London South East site [LoL] as the pages were into several hundreds. The chatter went on into the night. Yeah, there was buzz as FrankieH said.

Miss the old days.

BDI MINING CORP
"Recommended Cash Offer" RNS 11 Apr 2007" - Investegate
Gem Diamonds [LSE:GEMD] offered BDI Mining cash of 37 pence, valuing the co at £41.9 million.
Put into Google search: " Gem Diamonds buys BDI Mining for £42m" Diamond.Net, 11 Apr 2007.

BDI Mining Corp: Final Results RNS, 5 Apr 2007 [named DL as Head]

My Comment:
This was all before our time. So DL is able to sell off his companies.

Lonrho plc
https://en.wikipedia.org/wiki/Lonrho

Per the link, Lonrho was sold for £175 million to a co controlled by Swiss billionaires.

I dont know what BDI stands for, so someone will have to point out details.

Cambrian Mining
-----------------------
"As of July 12, 2009 Cambrian Mining was acquired by Western Coal Corp."
It was sold for $160 million.

https://www.lexpert.ca/article/western-coal-acquires-cambrian-mining/?p=%7C273&sitecode=DIR

FrankieH
In recent days, you asked if someone could bring you up to date relating to KDNC.

I have posted on KDNC.PL per your request.

The title is ~: Midas share tips - REM
It comprises 3 posts.
Just enter KDNC.PL and it will take you to the KDNC Nex Exchange forum.

I did not want to bore others or clog up this forum. However, the market is closed now at 8.25pm, Thur, 18 July 2019

Midas mentioned Cambrian Mining relating to David Lenigas.

David Lenigas tweet:
"Eagle 51 forgets Western Coal, BDI Mining, Lonhro all taken over totalling billions..." 21 May 2015
https://twitter.com/davidlenigas/status/579368919347118080

When I have more time, I will check further on the above and Cambrian Mining. I dont go that far back so need to research further about DL*s takeover co*s.

David Lenigas*s latest tweet: 16 July 2019

"Things are coming together now for Cadence Minerals with EMH kicking goals with Cinovec #lithium, MMS kicking goals with Moonshire #iron ore, Bacanora kicking goals with Sonora #lithium and KDNC*s big move in Brazil #iron ore."
https://twitter.com/DavidLenigas/status/1151064819598077952

Note: KDNC [Cadence] has some 19-20% in European Metals [EMH], 10% stake in Macarthur Minerals [MMS of Canada] and a small 2% [?] + 30% JV in the Sonora project [part 2].

Interesting - That stake in MMS is very forward looking as iron ore price is high and it is a hot commodity.

Today, it was reported that "Fortesque has formed a joint venture with UAE*s Al Maktoum to reconstruct a railway that links Guinea to Liberia*s port creating speculation that they may make a play for Guinean IRON ORE."- 18 July 2019
https://twitter.com/AmberMining/status/1151808952398733317

Andrew Forrest is one of the richest men in Australia [Founder of Fortesque of Australia]. So, Twiggy [as they call him] is now moving out of Australia since iron ore is a hot commodity.

DL was forward looking as we know KDNC took a stake in MMS [Moonshine iron ore project in Australia] some time ago and took a board seat in MMS.

Now, KDNC is going into Brazil to take a potentially sizeable stake in AMAPA. I posted on another KDNC forum that Anglo American sold Amapa for $130m in total to Zamin whose founder was a commodity trader [London based]. There were quite a few co*s that wanted to buy Amapa and it included GLENCORE. The reason why Anglo wanted to sell from published sources was due to a port accident.

KDNC other partner is a Singapore private equity group. However, from reading the info, it appears the work will be done by KDNC to sort out the legals, technical work etc. The Amapa iron ore was once shipped all over the world so it is a known product.

One blogger recently discussed with Ivy on EMH relating to the loan etc. He asked how the loan was going to be paid. Well, fast forward, part of it has been paid and as said the rest was RE-FINANCED and RE-SCHEDULED. How? From the RNS, I put 2 and 2 together and it appears the lenders are cognisant that things are moving along with Amapa. Well, this venture could produce $25m per yr for KDNC from Kiran Mozario*s interview from recall but kindly check.

Frankie asked on KDNC relating to how things are proceeding with the co. So, these 2 posts are a summary. However, no financial workings.

well placed to benefit from big demand for lithium." - Financial Mail on Sunday, 18 Oct 2014 & Updated 20 Oct 2014 .

https://www.thisismoney.co.uk/money/investing/article-2798421/midas-share-tips-rare-earth-minerals-placed-benefit-big-demand-lithium.html

"...new lithium project in Mexico, which has already discovered 3.3 million tons of the metal, equivalent to 10% of CURRENT WORLD SUPPLY."

"The shares are trading at 1p...stock market capitalisation of £57 million..."

"David Lenigas...some notable success on AIM including Cambrian Mining..."

"The co ALSO HAS 30% of a mine in Australia and ANOTHER IN GREENLAND. The Australian venture in particular looks encouraging.."

My Comment:
REM [now renamed KDNC] : The Mail on Sunday has a big circulation and hence the Midas Share Tips was featured in the Financial section.

To revisit: SONORA lithium project in Mexico has now done a JV with Gangfeng, one of the top Chinese players. [BCN - REM JV etc]

HASTINGS - Yangibana: What rare foresight. The recent furore over rare earths brought Hastings into the limelight & one of the bigger Aussie caps in that space. Hastings has done an off-take with a top German industrial group and has progressed the project to the stage of capital financing.

Hence, the only wild card is REM Greenland [100% licence] near the world-class Kvanjfeld rare earth project [GGG].

I am updating what happened since the Joanna Hart Midas Share Tips on REM.
The above 3 were the original projects.

Joanna Hart also wrote that financing is usually the bug-bear.

That also was correct as we have now seen.

At the time of the above article, the share price was 1p, mkt cap £57m. It went to a mkt cap of £95m thereafter [2.25p].

I just decided to click on isdeer name on the London South East forum he was posted on today. I was wondering how many rounds he*s done since REM [now KDNC days].

Lol. On 12 July 2019 at 13:39, old REM timer isdeer posted: " Or a Rare Earth Minerals that went from 0.04p to 2.25p & one I sold far too early my biggest share regret."

My comment:
In retrospect, yes, it could be too early a sale , too late an entry etc. Since this said old-timer can quote the exact price as I had remembered it, he may also be cognisant that since then no stock has ever risen from a £1m mkt cap shell to almost £95m mkt cap.

So, this gent is now busy as in the days of REM. He tends to stick to posting on the 1 or 2 stocks and he has the fervour of an old-time style.

Well. time proves many things.

Yes, Barksy1, I remember the nights of to and fro on REM share forum [now KDNC]. That included weekends as well.

I am sure some will remember the old-timer, isdeer.

I was just reading one of the London South East forums and I saw his post today at 14:21, Thur 18 July 2019. Quote: "I also wish I had stuck with my guns with REM & .. and played them out and not jump ship to the next big thing."

isdeer was one of the few on the REM forum together with pension pot and torchy. The share price was then 0.04p. Many will remember this gent wanted REM to buy further into the Sonora JV.

Some old time news from those early days when ZEST the shell was renamed REM. The Founder had just cleaned up the shell and the first project was the Sonora lithium project in Mexico. How far the co has travelled to a JV with Ganfeng recently.

On-topic as it shows that the very early investors in REM were ...as isdeer has just posted. Historical now of REM and the founding days of KDNC.

Newcrest Mar 2019 Quarterly Report:
https://www.newcrest.com.au/investors/reports/quarterly/march-2019-quarterly-report

This is the latest as the next Newcrest quarterly report is on 25 July 2019 [today is 17 July 2019]

Quote:

"Gold production in the Mar 2019 quarter was 5% lower than the prior quarter, driven by lower production from a l l operations o t h e r t h a n Telfer, which i n c r e a s e d production b y 11 %."

"Telfer highlights:

Mar 2019 Qtr: All sustaining costs $1,148 [Dec 2018 $1,221]. A l l sustaining cost margin $153 [Dec 2018 Qtr $14]."

My Comment:
So, that*s the proof from the Official Qtr Report from Newcrest. One can see that the margin of profit is $153 [$/oz]. The Mar 2019 Qtr Report also gives FY 2019 guidance production for Telfer at 400-460k oz. So multiply $153 x 400-460 k oz.

The proof is from Newcrest regulatory latest Qtr Report - the above shows profitable from the figures?

On-topic for GGP Havieron. When the results came out for Hole 5-9, investors on the forum said it was not good compared to Hole 5 [Havieron]. After a short period, Newcrest & GGP signed the Joint Venture for Havieron.

What did Newcrest base it on? Well, obviously it is the Hole 1-9 results for Havieron which is near to their Telfer mine. How do they evaluate? It is obvious they use the Telfer mine drilling report ie compliant NE43-101 which I quoted. I cannot obtain the latest as it ends with 2016 which is on open file.

Otherwise, how does Telfer know how to model from just 9 holes unless they study the geology. How can one know the geology unless it is from the Telfer mine? Hence, standard practice to use the world class mine results of Telfer [32moz gold per Antipa presentation of July 2019].

That ends the topic.

Quote from 21:43
"benchmark is losing money."
This is in reference to Newcrest Telfer mine, Paterson, Western Australia near to GGP*s Havieron.
----------------------------------------------------------------
Latest:
"Newcrest Mining after Telfer p r o f i t a b i l i t y jump with ore sorting technology."- International Mining, Latest Issue July 2019
Link: https://im-mining.com/2018/10/29/newcrest-mining-looks-telfer-profitability-jump-ore-sorting-technology/

Quote:
"Results to date indicated ore sorting could triple the grade..."
------------------------------------------------------------------------------------
The word benchmark is merely a term and its definition: "practice of comparing metrics to industry bests.."
For that reason the Antipa 17 July 2019 Announcement relating to July 2019 Corporate Presentation from Noosa Mining Conference quotes Telfer*s Drill Data as "Telfer Reef Style- VSC dominated by l o w grade h i g h tonnage mining...and grades are given including data ie in excess of 1 km below surface."

That shows that Antipa shows the benchmark of recent under cover discoveries ie Rio Tinto Winu & GGP*s Havieron + detailed Telfer as the industry "benchmark" [my term]. This is standard. I have seen other presentations refering to Telfer because no Paterson exploration co can merely quote their own data ie grades etc w i t h o u t reference to the Telfer mine.

That is known and standard practice in the industry.

That was also cited in the S p r o t t Report on GGP.

Pg 4
"Recent discoveries under cover:
RIO TINTO WINU, Paterson Province, W.Australia
"60m at 1.22g/t & 1.02% Cu from 60m down hole {WIDI 007]"

"763m at 0.63g/t Au & 0.44% Cu [WINU 006 from 68m down hole]"

GREATLAND GOLD: HAVIERON, Paterson Province, Western Australia

"275m at 4.8g/t Au & 0.6% Cu [HAD 005 from 459m downhole."

"Paterson Region:
Host to world class mineral deposits : TELFER 32 moz, 1Mt Copper Pre-Mining.

Source: Announcement [or called RNS in the UK] : July 2019 Corporate Presentation, Noosa Mining Conference, Australia. Date of Release: 17 July 2019

Link: https://hotcopper.com.au/asx/azy/discussion/

My Comment:
Further to the Newcrest 2016 Technical Report NI43: 101 that I posted a few days ago being the benchmark, it was commented on this forum that the grades are low at some 0.87 and that is it profitable.

I now provide the Rio Tinto details as above provided by their JV Partner at Paterson, Western Australia.

Since the quoted are from 2 holes relating to Rio, it appears to represent their best holes result as one can see that they quoted Hole 5 for Havieron for Greatland Gold [GGP].

Since Rio*s Winu is on the same structural corridor to GGP*s Havieron, it provides the norm benchmark for this corridor.

Hitherto, from Barry Fitzgerald, one only knows that the Winu results were 1% Cu copper but no grade result for Au [ Gold].

As per Rick Rule in the 2014 and recent July 2019 video on 10 baggers, research ie data etc play an important part.

All genuine shareholders would want to see shared research on the Paterson region region especially of the structural corridor to Winu.

So, its not only Telfer [Newcrest] with 0.87 grade but now seen in the Rio grade of 763m at 0.63 g/t Au Gold.

Please check as there can be copying errors from note taking.

That now ends the topic.

DYOR.

I have just fetched the video version of Rick Rule*s for Hunting 10 baggers dated 15 July 2019. The link: https://twitter.com/FergHodgson/status/1151195236619771905

If anyone listens, let me know if there are any changes to the printed version. Thanks.

Yes, Dealer 55, I think you twig my point about the £63m mkt cap.

I have just seen a video interview with Rick Rule on how to find 10 baggers.
It was an interview and the tweet is today.

I did not want to listen to it. I know that age old principles from Sprotts do not change. Evaluation is a standard method common to all analysts and investment houses.

Even investment groups do the same method.

So, I decided to look for a version of the article in print rather than video. I do not have the time to view at the moment.

When you asked me about Telfer and what grades are profitable, I think NO ONE can answer that with any accuracy as one has to be an Economic Geologist and they have their internal tables. From a public point of view, one can know Newcrest all in cost but that will NOT be accurate as Telfer is now aging. In the latest I read, they will try to employ more up-to-date methods ie majors which includes tech eg autonomous etc.

I posted Artemis article to show that Newcrest are looking for higher grade ie grades higher tthan Telfer is currently obtaining.

As for Newcrest 2016 technical report, that is an official compliant report. That cannot be outdated. I have just checked : Newcrest has a technical report on Telfer dated 2013 for the underground part.

I did say that if one wanted all the report, then one has to pay thousands to Wood Mackenzie. It cost $2,250 via https://www.woodmac.com/reports/metal-telfer-copper-mine-16232181

Since HAVIERION drilled ONLY 9 HOLES, there is no point in seeing the later technical reports. In fact, the EARLY TECHNICAL REPORTS will show the EARLY HOLES. For that reason, Gervaise Heddle, CEO of GGP said that at Blackhills is reminiscent of early days of Telfer - that*s why I posted the blog from the Telfer geo to show what the nugget looked like and the one*s shown by GGP.

Last point, I would like to clarify.

I posted the Rick Rule article to back up what I told Stout.

So, from a £63m mkt cap, it will need to go to £630 million to become a 10 bagger. That*s almost the mkt cap of Solgold*s re-rate of US$1 billion [29p+ currently with a 52 wk high of 45p].

So, I brought up Paul Johnson as he entered GGP when the co was not even at Ernest Giles yet. When the Ernest Giles drill was done, he was no longer here. Hence, if I did not hear the interview on Proactive Investors, I would not be aware he was here PRIOR to the later project. So, he was a director in this co at one time. I do not know of anyone that bought at 0.10-0.13p.

Otherwise, people think a 10 bagger is from £63m which is harder than from 0.10-0.3p which is the historical data.

Not sure why all the ?. You said you would like me to answer your question since I am good at research. I dont know what you wanted to know as it was not clear from your post a few days ago. The mkt is closed so I think I leave you with your thoughts.

Dealer 55.

As I told Stout, the mkt cap is £63 million.

In order for the price to re-rate [or de-rate], it will depend on the potential size or scale of Havieron, Black Hills and Paterson Range East.

GGP thinks that it could become a $1 billion co. However, bear in mind that Havieron is not 100% owned.

Like the Rick Rule method, I have done an evaluation of the potential mkt cap on a conservation number. However, I did say that it depend on whether the Market or MM*s will re-rate to that mkt cap [or it can also de-rate].

As there is no model, one has to do one*s own in different scenarios.

The $1 billion mkt cap is the industry speak for a Tier 1 re-rate as in Solgold [historical now].

That*s the way I see it as elucidated by Rick Rule.

The share price of GGP has NOT risen a lot. So taking into a/c the price, there is not much interest from pure traders who do not appear to be on this forum.

GGP is not easy to read due to the limited info and geological models. Sprotts report helps but again, it takes in the different scenarios.

OK, that*s all.

In answer to comment about Paul Johnson, it was an interview by Proactive Investors about the co*s he*s invested in etc. Paul Johnson was so long ago - I was not here at the time as there was nothing going on. I brought his name up as he may be the only one who bought in those early days. I think Prospector also bought at around this price from recall. Paul said in the interview he has a target and he had to pay tax and a divorce.