Member Info for Sageman

Is anyone here old enough to remember penny share guide and the premium rate phone number with hot tips….the fun, the excitement…the losses!!!

Mark, if you bet the farm on a tip and it does well then yeah you got lucky but it was a punt. An investment takes a lot of research. I normally come across something exciting and have a small nibble (0.1% of my portfolio). I then increase gradually normally to no more than 1%, rarely 2% if things are going well. Once in a decade (GGP and GFM) to 5%. This approach has saved me literally a fortune. GGP now 8% due to growth. My preference is to ride the wave using trackers or sector funds. As an example if you check out Jupiter Gold and silver this year returns have been similar to GGP (depending on the specific dates chosen) using a diversified approach to the sector (so similar return at a reduced risk). I have been investing for 40 plus years, my no1 hobby. Lots of very expensive lessons learned but overall healthy returns. GLA

I guess it depends where you are on your investment journey. Speculate to accumulate. At the start the amounts are relatively trivial. I am in my early 60’s to place 40 years of savings (including pensions) in a single explorer would be intellectually derelict . I could list literally hundreds of similarly potentially excellent opportunities that have ended in tears. Your chances of choosing any of the mag 7 in the dotcom era was remote. I know bankers heavily in RBS (£18 to 9p) who loved their dividends and would not sell. Angus, SXX, COPL, Matad, UKOG, Tullow….these are just a few where you read people just like you guys literally crying. It’s just great that we are all smiling so ride the unicorn but don’t expect to find another quickly. I have had two GFM, GGP, and the current gold rally.

My lowest price was 7.5p (which I got for my daughter) but my average is around 13p (£260) as I didn’t take my holding to 5% of my portfolio until I was happy this is an investment as opposed to a punt. I read lots of boards and they are littered with sob stories of get rich schemes that have ended up in tears. Newmont walked away for good reason . In the 5 years to 2024 POG had average $1500 to $2000. This mine needed a lot of management time and money. If you look at their accounts they also had a portfolio of mines with similar needs. No one knew (even Speedy) that POG would be $4200 . Shaun can barely believe his luck that Haverion is self funded. He described some of the drilling as exceeding their best expectations. Basically people who initially invested heavily here gambled (you did not invest) and you got lucky. Shaun has managed brilliantly but also has been lucky. The point is guys this is rare. It is a unicorn. Do not expect it to happen again . Best to remain here and ride this unicorn than to profit take and think you will be similarly as lucky. I still favour the gold sector. Actual physical gold, diversified mining exposure (Jupiter Gold and silver) and Vanguard mining etfs. Portfolio at all times high I hope that others here are similarly smiling and looking forward to a very bright GGP enriched future.

Our holding in GROC is now 2.4m. Our MCAP is 2.68m…..

On 14/11 I said £5 by Xmas. That forecast doesn’t look that shabby now!

Some people listen to Bamps, do their own research, study the economy and have their own views as to future POG. A small minority have their heads in a place where the sun doesn’t shine and deramp with the delusional view that anyone with a rational functional brain would fail to recognise that they are simply walking four letter words!

Victor, some people look at the clouds and work out that it is going to rain. Others don’t even take a coat unless it is raining.

I can't believe that our Welsh gold mine is valued at circa 600k. With gold north of $4000 per oz gold that was previously non viable (pre 20024) now is. Normally the best place to find gold is where you have already found it. There is no upside price in here so I continue to hold (circa 0.2% of my portfolio) . A high risk punt but I still don't expect to lose money here...patience.

I put in 0.75% of my portfolio. Money I can afford to lose on a punt. Having done well on Jupiter Gold and General and GGP (plus other gold miners) I am well in profit on my "gold" investments. I have bottomed drawed this. I am not exposing any more money here to average down. I don't need to. If the assays come in positively I will get my money back and there is plenty of upside. If the whole thing sucks , well 0.75% is readily affordable within the scope of my portfolio. The portfolio often moves 5% in a week so 0.75% is trivial. GLA

The MCAP here is circa £20m. To a producing miner this is literally loose change. In this upbeat market a producer could easily acquire for Up to £300m , depending on what is discovered. High risk /high reward or potentially nothing. We await assays , in my case patiently, and in the meantime I find most posts here clueless . As someone said , it is the MCAP not the sp that is relevant and the only thing that now matters is the assays. Irrespective of your view of management all drilling and assays are done by third parties so give it a rest!

MHO1 - its a bit like an acre of land with or without planning permission. Without 5-15k per acre. With 80-100k per building plot. How much do you pay knowing that an application is in planning with indication that 5 plots are likely to be approved? The analogy here works except that the quantum is greatly magnified. High risk/high reward.

Forget the SP the mcap is sub £20m. There is no upside priced in. I am holding for assays.

The DFS looks good to me. One thing that caught my eye is that the ore reserve now has 55% greater tonnage and 36% greater contained gold. I await to see what Mr market thinks..

When you have lots of debt and the price of what you are selling tanks you have a problem. If you look back at forecasts for debt repayment a few years back it was $80 plus but hoping for $100 plus. In the 60’s it is just horrible . No management can succeed with that headwind. The polar opposite is gold mining. The 5 years prior to 2024 POG $1500 to $2000. They had loads of drilling to do, capex etc all forecast to be funded by debt and dilution. At $4000 plus per barrel the impact is transformative. I got out of Tullow months ago. I ask you one question. Do you think that oil is more likely to be $50,000 than £80,000? The answer to this question will determine your next move. GLA.

The reason for most consolidations is that they have diluted so much that they need a reset before they dilute again! It follows that the stats shows it tends to have a negative impact. The reality is that if WSBN are going to raise in future they need to consolidate - fact. Moving forwards it is now about what is in the ground. I do not want WSBN to develop this themselves if they do we will get a spike on assays and then sp falls as they raise money to develop with x years of funding needed to 1st gold. We need either a JV or better still a miner awash with cash to buy us out. With POG north of $4000 miners are awash with cash. I cross my fingers for great assays and a buyout. The sp here could be 0.3p or 5-10p depending on the assays and the subsequent response - duster, JV or buyout. GLA

Does anyone know if this announcement was made in Australia before the UK please. All I can see is that it was announced UK at 7.03am which would be circa 9pm in OZ. In which case OZ may be interesting tonight. Thanks in anticipation.

Agree PJ. We await DFS for Haveiron and bankable report for Telfer long term mine life. This is the equivalent of a breadcrumbs trail and a nudge, nudge , wink, wink that things are moving in the right direction. What institutions need is hard concrete facts. I remain very happy with my holding and look forward to the DFS , 12 months results and concrete proof that Telfer will continue long term. Combine this with a POG over $4000 and you have a £10bn mkt cap . A nice uplift from these levels and hopefully all doable by summer 2026. GLA.

I agree that the experience of other miners is relevant, especially your close neighbours. Shareholders at GGP are in the same boat as us where results are concerned. Huge amounts of drilling taking place and awaiting assays. I guess the labs are busy. Patience as we will all know in good time, just a shame that in the meantime we have to put up with both rampers and trolls.

FWIW, if assays came in great we would get a spike then a big fall due to cost to build and time to 1st gold. That would only be mitigated with a simultaneous announcement of a JV partner. I would expect a 5-10p spike (nice from current level). That gives a 150-300m value. My preference would be that an existing miner buys us out at that stage. In the current climate miners are awash with free cash flow and may happily pay a premium for a new Tier1 resource. Time will tell. The assays are key. We could have a commercially unviable pile of dirt or the next tier 1 mine and anything in between. I have a modest holding and am happy to discover the answer whenever it arrives. GLA