Member Info for Sageman

With a cross listing the sp will essentially be the same on both bourses. If not there is arbitrage which swiftly narrows the gap. Accordingly we will definitely gain from Aussie buyers on ASX. I bought the dip this week using it to double my holding. Gold rallied last night back over $3300. We were 10p at the start of March . Lots of up and downs since with a new peak on Tuesday. Operationally Shaun and the team are smashing it and banking millions every week. As I said earlier , look at our chart, trust the team and chill. The analysts will catch on - but only when they have the numbers to crunch.

Monkey. The MCAP is 1.8bn and Aim supported his capital raises to date. If you did some research the P/E is N/A. Revenue last year -18m. They poured 1st gold in December 2024. The sp is rising nicely. In short everything you said is nonsense (and that is being kind!)

28/3 sp 13.2. 9/4 sp 10.2. This sp always fluctuates but the trend is upwards so chill out guys and enjoy your weekend.

Always worth looking at a chart to gain perspective. This time a month ago the sp was circa 10.5%. So a healthy gain and a nice upward trajectory. Also it shows a few sell offs during April on the way to hitting new highs earlier this week. Talking about the week. We produce circa 1000 oz per day. So they have generated circa $21m cash in the last week. I think that those who have topped up on the dip should soon be smiling .GLA

Moving to cross listing is a higher regulatory bar. It makes me wonder how similar that bar is to what is needed for a full UK listing. Stocks do not automatically move from AIM to a full listing and it may be worth moving to the full listing . This would attract more UK interest as well as Aussie.

Hi Culpepper, thanks for taking the time to reply. I have taken the Hav B/E at $600 and Telfer at circa $1500. I assumed that due to higher grades more gold would come from Hav hence the $1000 B/E. By 2029 I expect the co to be debt free with cash at bank. I have attributed no value to the cash.

The point of the rough estimate is not to be accurate ( I am not Tymers!). The point was to see whether there is decent upside. I would be happy to double my money in 4 years so to have a calculation that is not outrageous producing well in excess makes me very comfortable. I will leave it to others to run figures based on POG at $2000 and $5000 and production at 500,000 oz and 1m oz. Suffice to say I am very comfortable with this as a long term investment and hope that my calculations provide some reassurance for those feeling somewhat bruised after the sp falls.

Hi John profit in $ . A 10 x p/e = $10bn. Convert to £ = 8.5bn MCAP depending on exchange rate.

John my back of an envelope calc is as follows for 2029. Telfer and Hav combined 600,000 to 800,000 0z. Combined B/e circa 1000 per oz. Profit per oz 1500 - 2000. Being conservative I get a profit of circa 1bn. If we are debt free a P/E ratio of 10- 15 is not unreasonable. All figures in $. So convert to £ = MCAP of circa £8.5bn. All figures used to achieve this are on the conservative side. This is where I get my 5 bagger comment from. There are lots of assumptions here about costs, POG and production . I have tried to adopt a conservative balance. I would welcome thoughts by the likes of Element.

You can Google largest gold miners by market cap. 100 appear. You can then list them on the site by P/E, revenue, earnings etc. Interestingly when you ask to list by P/E one company on the list comes up as N/A …GGP. As I have frequently stated the institutions have very little to run on with GGP.

Avocet for me this is a share that I have researched for several hours. For the institutions this is a share on Aim (many funds don’t do Aim at all). It is just one share amount thousands. It has very little data to analyse. Why would most analysts give this anything but a quick glance over. When they do do what do they see on the surface based on their records. 9 months of Telfer left, Hav to fund and forecasts based on POG at circa 2000. As Sean says GGP have had a spectacular quarter that has transformed the company. I have closely followed this as have some others here. The wider market hasn’t IMHO.

I must confess that I am scratching my head at the SP falls. POG is similar to Thursdays close prior to Easter and the interviews from Shaun have been positive. For me an unexpected opportunity to increase my holdings but further evidence of a market that doesn't yet understand this company. GLA

Hi Bunky, I couldn't have put it better myself. I do get that people want to retain investments for fear of care home costs. Where parents do not feel able to gift we use Business relief schemes. They are out of the IHT calculation after 2 years, remain your own property and if necessary can be cashed in to fund care etc. I regularly move excess ISA money to these types of investments for people in their mid 70's and 80's.

Ok Guys, we all know I meant 10bn, lol

I have just bought some more at 13.48p. I am now maxed out at double my normal weighting in a single stock (now up to 4% of my portfolio). I trust Bamps on understanding the mining side, myself on understanding the financials (40 years in finance) and Shaun to continue to max out the opportunity. Irrespective of short term SP fluctuations I think that Shaun will get this to a 10m mkt cap. I have listened intently to what he is saying. He is managing the cashflow/ cash burn and does not intend to dilute. He is intent on preserving cash and will develop Hav in his own time. This should be music to any shareholders ears . I am happy to be here before the bulk of analysts have done their analysis (not only on this stock but for the entire gold mining sector).

Correction to my post. Shaun is talking 11 quarters to the "j curve" of Hav funding not 11 months. Apologies. This makes a lot of difference to cash burn.

Hi Bamps, totally agree that there is much to fund. However, we have 2 debt facilities totalling 875m Aussie $. and Shaun is talking about 11 months for what he calls the J curve for Hav funding. My reading of things is that now Telfer has a much longer mine life there is no need to rush Hav. This reduces the cashflow needs. I think there are zero chances of any dividend any time soon. Depending on timelines and POG this can be self funded from cash flow and perhaps the debt facilities already in place. The point is that we are in a strong position with choices. The most destructive thing for existing shareholder value is going cap in hand to the market for funding . I have seen shareholder value decimated where that has occured. We are still priced as if that may happen IMHO.

Interview was most interesting. 2 things 1) Shaun sees Telfer producing for over a decade (the market doesn’t expect that at all) This substantially increases the timeline for dual mine production. 2) Shaun talks about 11 quarters before what he calls the “J” curve when much of the money will be spent at Hav. ( I didn’t know that the costs for Hav would mainly occur sometime from now). This substantially reduces strain on cashflow. Shaun is now talking about this being self funding. Interesting 2 months I was saying that it could happen. However, what I say is worthless. The fact that Shaun is now saying it is substantive.

Thanks - so they have a 775m Aussie debt facility plus the 100m Aussie debt facility mentioned below. Given their current cash balance, Telfer production and the POG more dilution to raise capital to fund Hav etc seems unnecessary. But we await the new feasibility study. Glad to have clarified this, thanks again.

Hi 96dc2, I can see the 100m Aussie $ syndicated facility agreement as mentioned in the recent RNS . However , I can see no mention of the 700m loan facility. Does anyone know anything about this 700m please ?

Tymers, suggest you look at the shares in issue!