Member Info for Nonegspleeze

It's that time again!
Gold clearly out of favour but we are currently trading at more than a 20% discount to NAV. This represents a clear buying opportunity for any investors with even a passing ability to be just a little bit patient. ;)

Toad,
beat me to it by a nano second. Nothing new from Simon Thompson but a very satisfying update.
New price target of 180p, current forward year end 1922 cash adjusted PE of 2.2.
Continued thanks to the quality posters on here for their continued inputs.

I'd be reluctant to put any money into retail or leisure for now but if pressed I'd say SHOE is the best of an ordinary bunch. Cineworld is a debt ridden basketcase and a potential zero in my view.
Not sure when, or indeed if, Stagecoach will get anywhere near pre covid revenue & the card factory is in a losing battle with the internet & social media.
Both Shoe & card factory are also going to struggle with the new normal half empty high St, even after covid restrictions are done. Bigger threats to shoe also include Primark & supermarkets in general. Good luck with your choices but all these companies look cheap for a very good reason.

BM
Excellent review, thank you.

I bought in here half way through last year at 4p and had a significant top up at 5.6p as BMV announced their intention to buy Southern Gold's 50%. At the time it being generally understood that the assessor would announce a favourable valuation, BMV could afford said valuation, in cash, and works towards initiating production, again all funded, would start as soon as the cash was handed over.
The reality has, as we all now know, worked out very differently.
I hope that an agreement can still be reached, but the complete lack of communication from the board has left everybody stabbing in the dark with their best guess as to what might happen next. There is no visibility of funding and there is no given time scale. Most importantly, there is no clear path, inferred or otherwise, to production.
For these reasons I sold my shares here this morning.
I hate to take a loss, no-one invests to lose money, but I'm concerned that the SP will continue to drift further without positive news.
I post not to deramp, but in the hope that someone at board or PR level reads and actually understands that lack of information is seriously undermining share price performance here. Good luck to all BMV holders, I genuinely hope there is light at the end of the tunnel but I feel there are better informed homes for my cash.

LordClueless
Although I post very rarely on these boards, I've been investing for more than 40 years and I read most of the comments posted on the companies I'm invested in and also those where I see potential and am researching.
There are many informed and knowledgable posters on this board and others and I have learnt much from their opinions over the years.
One of the posters I respect the most, not only from his input here, but from other boards such as THA & SLP where I am also invested, is TigerByTheTail.
His posts are always well constructed, unbiased and insightful, unlike any of yours.
Please do us all a favour and find somewhere else to peddle your drivel. Muppet

Just noticed previous messages. Australia Stock Exchange closed 26th Jan, it's Australia Day.
Hoping for a successful conclusion, along with a production update by RNS on the LSE at 7am.

Nice piece about Jim Mellon's new book Moo's Law in Master Investor today.

https://masterinvestor.co.uk/latest/moos-law-an-investors-guide-to-the-new-agrarian-revolution/

Tony, yet again you've absolutely nailed the chart movement here.
Are you suggesting though with a "gentle rise over the next 5 weeks" that either the BFS won't be released in the next 5 weeks? Or that it may be released and have little or no effect on the share price?
I'm also concerned about SP info here, especially this morning.
We traded between 77 & 78p for the best part of an hour this morning but the SP didn't get above 74, eventually ticking up to 75, with at one point the bid being 4p above the SP.
Has been all over the place since, dropped 3p for no obvious reason and now every trade is an unknown 72.2p. Is this just LSE being poor again or MM's walking the price about again? Keep up your amazing work.

Mistake, missed a 9 out, valuation should have read $9.945m
Apologies.

Jersy Crew,
I do! I check in every day, even less said on the other BB.
I've just re-watched the proactive video of Andrew Scott interviewing Simon Mitchel (CEO of Southern Gold) after the valuation of their joint venture with BMV (30th Nov 20), Mitchell can hardly contain himself, the valuation is clearly much higher than both what he, and indeed everyone else, were expecting.
You can see it here.
https://www.proactiveinvestors.co.uk/companies/news/935163/southern-gold--in-strong-position--as-it-agrees-sale-price-for-gubong-and-kochang-935163.html
Personally, I'm finding my investment here very frustrating. Having initially dipped my toe in around 2p, I have added quite substantially through 4p & 5p (I actually managed to buy at the top!) as an agreement with Southern Gold seemed closer along with 100% ownership and production also appearing closer. The subsequent apparent stalemate has resulted in share price drift (on very little volume) leaving me 20%+ under. I like to run a fairly close stop loss on my investments and really should be considering selling out around the 4p mark.
However, it seems the market, or at least the short term traders, have it in their heads that this can be left for the 60 days that BMV have to make payment which takes us to Jan 26th 2021.
They may well be right. Although I wouldn't rule out an announcement before then (and consequently wouldn't want my money elsewhere atm), I would expect the share price to pick up again through January.
Southern Gold will no doubt want an element of cash in payment, but they already have sufficient cash for their continuing exploration needs for a significant period of time so I don't think they'll be expecting, or holding out for, a cash only payment.
They are SOOO happy with the $9.45m valuation I believe they'll accept a cash element (50/60%?) plus some kind of share/royalty component, leaving BMV (fingers crossed and as stated) sufficient funds to take them through to production.
Ultimately, BMV is a screaming buy as the few $m that is considered an overvaluation and causing problems right now will seem completely irrelevant when we are moving up through the gears towards 100,000 ozs of annual gold production in just a few years time. Good luck all both here and wherever else you're invested. JB

Tony
as an investor that operates with a trailing stop loss I find your insights exceptionally useful. I believe in the story here but I'm breaking all of my rules by continuing to hold (and have done since we dropped below 75p). Feels to me that our regular SP "Walkabouts" are less about The Charts and more about the MM's (here and in Oz) keeping themselves busy. I hope you're correct regarding 64p as any further drop from here and I would have to consider protecting my gains.

China, love your posts and the knowledge you bring.
However, I do think the investment case at RBW has changed over the last 18 months. CEO George Bennett is the real deal, is putting the company on a professional footing and looks like dragging the company into profit in the not too distant future. The risk is now diversified with a second project and the grades are impressive. I'm happily invested in both.

Good Afternoon all, I'm keen to invest here having researched the portfolio. However, I can't help feeling that the SP is a little too far ahead of the NAV. Does anyone have any thoughts that might help my investment decision?

Just announced on ASX by Southern Gold.
Payment terms not yet announced.

cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02315525-2A1266759?access_token=83ff96335c2d45a094df02a206a39ff4

Phoenix
Agreed
Any payment in shares to Southern Gold would have to come with a lengthy tie in, ie, not allowed to sell on for say 12/18/24 months which they'd never agree to. Otherwise they'd sell immediately as they want to be out, which would flood the market & trash the SP. Nonsense all round.

Ultimately if we end up paying close to 45% of BMV's market cap (mc £20m) so say £7-£9m it's still a steal when you look at the 30k rising to 100k of gold to come out of the ground in the coming years. That is of course as long as we can afford the purchase & development to production. Would love to pay less but let's get that valuation & get on with it.