Member Info for Overdog

Earnings per share 5.7 cents, approximately 4.5 pence. Share price 4.25 pence. No debt. Doesn't seem to be particularly overpriced to me. What do you think Miss Bellamy?

Miss Bellamy

On this BB you fill your knickers every time the gold price moves down a little. On the other board that you contribute too you get over excited every time the gold price moves up by the same amount. What gives?

Re Jammin 86

The life of mine is a known thing and at the moment we can only really value the mine based on a 4 year mine life and the revenue that will accrue from that. However with the current gold price, production capacity and costs, a very rough figure would be 10p per share. On top of that we have potential which to be very prudent could be valued at 0p. That would still give a fair value of 10p though.

There must be some force at work pushing the SP down. Possibly Mr Candy reducing his holding which I personally would welcome. Maybe though it's just small shareholders getting the jitters. The share price drops a little, they panic and sell and that drives further falls. I cannot foresee any nasty surprises when the results come out so will just sit it out. Shares rarely rise in a straight line.

As for Miss Bellamy, on here she bangs on about how the gold price is collapsing and it's all going to turn bad. On the other bulletin board that she is trying to ramp, the exact opposite, celebrates every tick upwards in the gold price. Bizarre.

The extra interest payments on the repaid debt is an irritant. Nothing more. The rise in the gold price today will cover that by itself in a year (if it is maintained). There is now an unexpected buying opportunity and looking at the trades today plenty are taking advantage of that. The interest payment is not going to be a recurring issue and will soon be forgotten about.

No. MTL who have four bagged for me already and 10 bagged for the longer term holders. Ura could easily go the same way or they could crash and burn. The way I am thinking is there is the potential for a 100% loss or a 1000% profit so it's worth getting in early and letting the company develop itself. There a hundreds of junior miners on the stock market and very few produce anything so we're already ahead of 90% of them.

I think this is a perfect demonstration of why the company is in the early stages of giving up on the UK and switching to the US. To get anything done in the UK you have to first get past the NIMBYs and the self interested QUANGOs who spend years complaining and raising objections to any kind of development or economic progress. Then if they do allow you to develop it is so slow and inefficient you wonder why you bothered and finally as soon as you start producing any revenue you have to pay nose bleed levels of tax.

The well in America will either work or it won't. If it does they will drill another, if it doesn't they will drill another. Try doing that in the UK.

Wonderful set of results. Good "steady as she goes progress". No surprises, debt free and, as stated earlier, done at a substantially lower gold price than now so profit growth is almost built in for the next quarter. Spend the next year or two building up a very healthy cash balance and exploring for new resources and we have the beginnings of a very solid company forming.

Would be nice to get some of the volatility out of the share price but that isn't anything to do with the company, just the market.

Hi guys. I'm in for 100k shares (more to follow over the next few days). Been doing extraordinarily well with small mining companies recently. I never buy before production has started so have been watching for a while and now feels like a good time to dip my toes in the water. A tiny miner with production and no debt. Potentially massive upside. The lack of debt is a huge bonus as far as I am concerned.

Not at all. Still holding all my several hundred thousand shares. A 10% drop in one day however, after the main shareholder in the business sells a chunk of his holding, is painful.

As I said in my earlier post, if the next trading update shows no surprises then within a couple of years the cash within the business will exceed the entire market cap and the mine, equipment and exploration potential will be there effectively for free.

Not selling until the SP is several multiples of where it is now.

Bit worrying Mr Candy dumping so many shares after so many years a day or two before we get our next update from the company. However, as long as the results reveal nothing except business as usual then there is nothing to worry about. The free cash flow over the next couple of years will cover the market cap. Anything on top of that is a bonus and any further discoveries (Quite likely) are also in there for free. The gold price is magnificent and will be giving all the gold miners a massive boost.

A lot of buying this afternoon as well.

I'm in. Just bought 20,000. Been watching this for some time thinking it's a bargain and it just gets cheaper and cheaper.

The company is so tiny that even the news of the possible buy out has gone under the radar of most people. My best guess would be that the company will get bought out at something like mid way between the current price and the NAV so maybe around the 50p mark. That would be fair to all, leave plenty on the table for the buyer and leave the current shareholders with a decent uplift from the current SP.

Miss Bellamy. I thank you for your concern. With the gold price collapsing by 2% back to where it was almost a week ago this has been causing me great concern also. The precipitous drop in the share price leaves me with a mere 350% profit since February last year which, I am sure you will agree, is terrible.

As for your prediction of a heavily discounted rights issue. Spot on. Most companies would do this immediately after repaying 200 million dollars of debt and as they start to accumulate vast quantities of cash on their balance sheet.

Keep up the good work.