RE: News & Trades25 Mar 2022 11:07
Technicals are starting to firm up here now.
52 Week Low 0.651
50-Day Moving Average 0.75
20-Day Moving Average 0.75
10-Day Moving Average 0.78
All short term DMA trending in the right direction.
SP starting to push and edge higher last few weeks and has cemented the floor in.
On a fundamental basis we are incredibly undervalued, that's fine as it will just add to the strength to the upside once this starts to move.
On a sector peer analysis we are also deeply undervalued, sharing a similar market cap with some exploration companies with little to no proven discoveries or very early stage projects with unproven economic resources.
On a gold in the ground valuation with 3Moz of Gold with our discoveries remaining open at depth and in many directions this has to be one of the best value gold companies listed on the London market with all the potential here.
With the political situation in Ethiopia improving the Mining licenxe already in place and the government pushing the project forward now, all the stars are hopefully aligning for the JV to satisfy the lenders conditions precedent for the project closure over the coming weeks and we should hopefully hear that we are all on track, next week.
No such delays are being seen in Saudi Arabia where the Gold province continues to grow in size and scale and we know the funding is already lined up to move inro the mine development phase, without the need to involve any lenders given the wealth of our JV partner in SA.
Having been given the heads up earlier this year that we should expect the SA mining license to land this year, the present m/cap provides an incredible entry and opportunity for all the value about to be unlocked.
The recent research notes published simply underscore the multibagger opportunity here and i'm happy accumalating in at the ground floor