The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
My LSE won’t show the trades. Stick at 3pm
But that’s a sound theory actually rob. Their settlement in September was 10m shares with a rough value of £425k now would be closer to £2.7m..
Selling down to pay off creditors and cover costs with the old mine would make a lot of sense. Could really do an updated shareholders listing. They may have decided now is the time.
Academy- they raised circa £4m at 17p back end of november so should have circa £6m in the bank. (Refer RNS 30th Nov).
General consensus is the placing shares and warrants has caused the stagnation as we churn through the overhang.
hypothetically if the NEM / Agnico fully earn out, it’s likely at that point, Anza will be a proven multi million ounce resource - so £2bn may be light. Look at GGP valued at 1.2-1.3bn on a proven resource of 3.4m oz
Whilst its a valid consideration to keep an eye on, until the earn out stages occur it’s not really a factor on current share prices. If that were the case, why did ggp not plummet on announcement of their JV? The inherent value the JV provides counter acts the dilution of the earn out terms.
From the pics it looks pretty much like jungle. 50kms from medillin though so not massively remote
Could cause a few delays with the overall program- think Brad mentioned that’s maybe why NM hasn’t mobilised their troops yet as it’s harder for larger corps etc to move people around with all the corp governance / safety they have to comply to.
Good spot! This is from their last quarterly results-
‘The miner said its average realized gold price jumped 30% to $1,913 per ounce in the third quarter, while attributable gold production fell 6% to 1.54 million ounces.’
Declining production, record margins and the coffers are full of cash - they need new discoveries and need them quick. Gold production globally dropping off a cliff.
Have GGP had to shut down a functioning mine and undertaken a change of leadership in that time?
I guess all it takes to shut a mine is stick some doors on and throw a padlock on it...
If anything our JV have shown a huge amount of patience.
ART you are turning into a broken record. Your intentions are clear- you want this to drop so you can trade it.
A few points;
- you act as though they are never going to drill again- at what point has the company suggested they will stop drilling after this initial phase of 2,400? They haven’t, they have insinuated they plan to get more rigs on site and drill a lot more.
- it’s pretty tricky to get rigs and drill teams during a global pandemic!
- they have also noted / insinuated this drill is to take anza to ‘resource’ status - 1m proven resource drives the mcap higher.
- has it been slow going? Maybe. The company has clearly noted that this is primarily due to delays at the labs - this is an issue globally. You reference GGP - why are their scallywag results so heavily delayed (it’s happens all the time)
- are the results going to be on time? yes- company promised results late jan / early feb.
- would we all like 40.000 meter drill program inter Kane by our partner confirmed and details of all the areas they are going to drill? Absolutely - but this will not be sat in the 20s if that happens- think 50p+
Price action is frustrating, driven by impatience and placing shares.
If someone can show me a possible multi million oz resource with two majors about to accelerate a drilling program at 40m mcap then I’m all ears.
So many great points in the presentation that are worth reiterating;
- possibly moving Anza to resource- huge step and mcap driver.
- multiple thick high grade intercepts!
- open in all directions!
- anza / newmount to take control in 2021!
- keep on drilling!
What’s not to like?
Agreed, one buy of 200,000 shares after close yesterday, no effect.
100.000 shares sold this morning, down 7%.
Can’t see how they can justify such a drop off such tiny volumes- or why anyone would want to sell down here- looks like a manufactured drop to me.
The other key question is given the current situation, is the mcap at £50m under or over cooked? My personal view is a undercooked.
The are a glut of goldies currently sat at £30-40m who haven’t turned a drill and have no JV (will be diluted to the moon)
Given the JVs and historic grades I see this as somewhat derisked as the chances of a catastrophic duster are largely decreased.
My personal view is NM and Ag may want a ‘proof of concept’ before mobilising agnico into next phase of drilling. I would guess NM AG would have had a large say in drill location either way?
I wouldn’t be too surprised if NM/Ag were asking Omi to drill on various extensions to get a better feel for the periphery of the resource - so I wouldn’t be surprised if the first results come back and are not stella.
Im am disappointed they have not given us more detail
Of what they are trying to achieve from this drill.
Can’t help but feel COVID maybe causing logistical issues with the access to the newer areas.