Member Info for Northman1

GGP is massively overblown. I don't understand how a company can have that value without even a defined resource. A few good drill results half a mile underground are great but I don't see how that can lead to that massive valuation when they have no idea of the scope of the resource

These little £1 and £2 are a bit ridiculous, I assuming these people don't have to pay a trading fee. Does this actually achieve anything ?

To be honest now I think the weald is just a distraction, I doubt we'll get to the massive production we all hoped for. Better to find a buyer for our stake and use the cash to advance the greenland assets and the gold

I do hope we don't have to wait a month for Q3 results

I've been here a few years now and the reason I came in is its the oldest trick in the book, making money out of other peoples waste. They effectively want rid of it, so its cheap, its out there on surface so no digging required and your encouraged to do it ,as at the time your effectively cleaning up the place . They seem to have some great technical people in the background working on some industry beating processes. I can only see this going from strength the strength.

Wierdly long term I think the money is in the graphite if they can get a permit for it. Anything that has worlds richest deposit associated with it can only be good thing

So whats the guesstimate for the Q3 RNS? end of next week? I'm hoping to see some money staying in cash /gold this time.

Foreman where have you got this 1000 acres from on person from? The presentaition says they are buying 1000 hectares total. If there are about 2.5 acres to a hectare and they have got 91% then should only have about 225 acres left to get?

GGP completely baffles me, they haven't even got a jorc yet but somehow command a mcap of best part half a billion.

Just another 100% needed for me to break even

Lot of interesting projects. Thule will really come into it own if Bluejay get the go ahead in the next few months.
Not sure about the iron ore projects in the current climate, I think I'd be concentrating on graphite.

Thanks Juxtapose you answered before I could ask if someone could now tell me where the money went. What does inventory cover then is this the mining machinery?

That's all I'm saying Ricky is it must have gone somewhere I just would like them to be more open about where this money goes. the numbers all sound good but the if the final cash/gold position is lower than it started it be nice to know where it went.
Ideally as you say we'd get mini balance sheet in the results stating if these trade payables had been reduced . At the end of the day it'll be great if we can generate 60 mill in next 4 months but if that isn't reflecting in the cash position because it all get swallowed by something we're not notified about /shown then that doesn't seem very good to me.
I have a the majority of my money invested here and have only recently come back into profit after several years so get a bit narky when sums don't add up.

OK Ricky so that's the contribution from sale of gold I get that. but cash has gone down not up and debt only dropped 8 million so where did it go.
19 mill contribution less 8 mill debt reduction = 11 million . However cash dropped from 8 to 6 million it didn't go up 11 million? So even if we go with your calculation we're missing 13 million?

Quite right ngnlnv only 8 million gold worse than I calculated so missing 17.4 Million not 15.4 Million?

At Q1 results we had 25 Million in cash and gold(8M cash 17M gold)
and debt of 34 Million

We have made 24000 x $600 approx from poured gold this quarter circa $14.400,000

Cash and Gold end Q2 = 16M (6 M cash 10M gold)
debt 26M

So we've made 14.4M in the quarter yet our net cash and gold has dropped 9 Mil and debt has only dropped 8Mil.
14.4 + 9 - 8 = 15 .4 Million unaccounted for
So where has the other 15.4 million been spent? Seems a lot for drilling?
What am I missing here guys?

It doesn't work the project sections don't open and the RNS section haven't been updated since end of 2019. I don't think anything has been done since 2019. Can't find any kind of investor presentation on there.

Hope these guys will sort their website out then as it doesn't currently work. Only way of finding out about this project at the moment is via Southern golds website, so if they drop out, potential investors are not going to be able to find anything out.

I've said it before but I'll say it again we have a working mine, likely on target for 100 million a year in profit yet we sit on 140 million mcap. GGP have some nice drill results 1km underground, no jorc, no profits, no mine yet sit at half a billion mcap.

AIM is ridiculous in the extreme.

So we've gone straight back up to where LSE stopped reporting trades yesterday, all very peculiar. It would have been interesting to see what volume caused the drop at the end of yesterday. Anyway looks like it'll be next week for news then.