Member Info for PlunderEurasia

You would expect a company headed into administration to have a market cap of 500k GBP and this isn't headed into administration, its a miner in production with inventory to sell and no debt, there are enough funds to continue until August as well before any further sales or raises. I also said to stop trading at the 1p mark and this is why, markets being irrational, people are selling at any price.

Yep that happens when companies can raise more via private equity, makes sense if the NAV is 23 million as well, since a 5% raise would cover the opex, versus a crazy 100% raise which would be necessary now.

Crabbo, this is probably why Gemfields dumped Bonas! Also, if the auction is in the first half, then they will need to announce it around 2-4 weeks before the end of June! So it should be announced end of May or start of June. No guarantee it will happen however which is why I think the company should have done some private sales before joining Bonas or work with another group all together. In consideration of this, it will be completely unacceptable for the sale prices to be low considering this level of delay!

The business is profitable, they just spend more money than they earn which is typical of growth companies, the issue is however when they dilute shares like this, you never take benefit from that growth and long term holders get shafted.

I didn't imagine they were capable of performing raises with 47% dilution either, so this was an eye opener.

There can't be much left considering the cash burn and the last statement of accounts, they do however have a massive stock pile of emeralds, so they can get Interim funding if necessary.

They also signed an exclusive sales agreement with Bonas, so they need to deliever top dollar valuations to warrant this kind of sales delay, no point otherwise!

Yes it's a Bonas auction for Belmont, while GEMR is meant to either join a Bonas Special tender, with other smaller miners, or have an independent sale.

There was also a Bonas Special tender in February 2024, so we actually expected it to have happened already in 2025. Ed Nealon himself, however, said its expected in the first half and we are already headed into April, so there shouldn't be too long to wait.

I also check the schedule every morning, since I expect it to be announced any day of the week, as there is normally 2-4 weeks notice before these emerald tenders. There is also the chance of a Delgatto finance arrangement with some stone valuations and fiance announced together. However, there is also the chance of another small placing for funds to continue production, I already prepped for this with my buy this morning, im currently holding 1.4% and I do believe that my equity can drop down to 1% with the size of placings they normally perform for 450k and the current market cap.

Either way, if its placing or Delgatto, we will definitely be walking into that auction in a very strong position, so there isn't much too really worry about here.

Pingu that auction is for Belmont exclusively but we don't expect it to be much longer before Gem Resources gets an auction date. They started the year only scheduling diamond sales and now they're onto coloured stones, so we are in the queue behind Gemrock and Belmont.

1 million cap before delist or bankruptcy!

I remember the pump after the NTA was agreed, its just been sinking like a stone ever since then and they haven't even replaced Troy yet, nobody could have predicted that then, it is just so very shocking.

Its quite a strange pattern all over the LSE as well, a company gets a string of good news, some people cash out and then everything gets delayed to let them buy back 90-95% lower! Its seriously criminal.

These sub 1 mill cap companies popping up are really ridiculous, i've got Karelian, GEMR and GWMO in my watch list at the moment, GEMR is already in production for nearly one year, GWMO is about to start and Karelian is close to getting licenses, its absolute day light robbery!

Or its just another random day where someone sold 10k GBP worth.

I have seen trading bots do these kinds of moves in crypto markets, I think its designed to trick other bots into buying as well.

Just shut up and pump it XD

This company ain't been the same since Troy got sacked, they cant even find a replacement, just bite the bullet and ask him to pick up where he left off XD

They can't raise at this price, so it should go lower XD

@Gabbleratchet, I spent a good hour reading about Capricorn Saphire and I was totally unaware they had that experience but you can't expect anything less from a loss making mine, they initially only had 11% profit margins before swinging down into 30-50% loss. I also wonder if Fura gems is running the mine at a profit with today's Saphire prices!

At Gravelotte we expect much bigger margins as well, as emeralds are more valuable than Saphires, with a similar cost to mine, so it can be a very different story here. There is a premium expected for Cobra emeralds, as well.

All this effort and money to mine something totally worthless, while being diluted over 90%, people will never make their money back here unless they start developing other mines, for commodities like gold.

They could even have just bought some producing gold mines with all these fund raises or even just stock piled physical gold.

The auctions likely to be in February based on the 2024 and 2023 calendar and they already sent most of the stones over to Thailand, so they wouldn't need m uch at this stage, if they actually need anything at all.

The production volumes are also reasonable already, with between 70-80k carats produced every month, plus lowered production costs, the only question that remains is price per carat!

Crabbo did you also factor in inflation or is that a part of the historical growth rate, as $3 in 1983 is $9.50 today.

Latino you answered your own question, he is taking it into administration so he can take it private because that is his personal interest.