Member Info for Samroy

Here’s the link for the up and coming webinar, you need to register to attend. Cheers all.

https://investors.landore.com/webinars/4r89gP-investor-update

The MRE in 2022 was done on 833koz not 1.5m for $333m NPV

montage gold (tsx: mau) is acquiring australia’s african gold (asx: a1g) in a move that expands the company’s presence in côte d’ivoire and adds nearly 1 million oz. of inferred resource to its portfolio. the news sent montage’s stock to a new high.

under an australian court-approved scheme of arrangement entered on friday, montage will acquire all the shares of african gold that it does not currently own for 0.0628 of its own common share. this ************** ratio implies a a$0.50-per-share acquisition price, representing a 54% premium to the 10-day volume-weighted average price and an implied transaction value of $170 million.

these got a good deal for an inferred resource wonder if we might get one soon.

after all why are the big boys here?

A long way to go yet, only just the start, the rerate will come the MRE will be a game changer.

Happy Haddock,

I respect your cautious approach to valuing junior explorers like Landore Resources, and you’re right that subjectivity plays a big role in this sector. However, I see Landore differently. The BAM Gold Project already has a 1.5Moz Ni-43-101 resource, with a 3,500m drilling program underway to potentially expand this and upgrade Inferred to Indicated ounces. Recent soil sampling has identified new gold anomalies, and management’s transparency evidenced by regular updates and a new CEO backed by a £3.7M fundraise suggests strong momentum.

With gold prices hitting record highs above $3300oz and interest from major investors like Eric Sprott Rick Rule and LGM, I believe Landore’s current £14M market cap significantly undervalues its potential, especially compared to peers trading at $20–$50 oz for similar assets. As a shareholder, I’m puzzled why you’d emphasize caution over these catalysts, but each to their own.

This is my last reply to you on these subjects because it’s not fare to hog this board. I’m confident that Landore will come good and will let the results speak for themselves. Wishing you the best in your investments.

@Happyhaddock, thank you for this thoughtful and civil discussion, it’s a refreshing change like you say from the usual online noise. I appreciate your points and agree that a lower market cap today compared to 2021’s highs isn’t the sole indicator of undervaluation. I take onboard you was neither suggesting that LND is overvalued nor undervalued. Your skepticism about broker valuations is also well articulated, and I’ll address it while sharing again why I still see Landore Resources as significantly undervalued.

You’re right to question the independence of broker notes, as their funding often comes from the companies they cover, creating potential bias, I’m not aware of specific examples where a paid broker has valued a company below its market cap, your point about their incentives is fair. However I still believe H&P’s recent 12p valuation for LND, based on the 2022 PEA, is conservative. It uses gold prices and discount rates, aligning with industry standards rather than hype, suggesting a market cap three times the current level. While brokers rarely value below market cap due to their incentives, their analyses can still offer useful context when grounded in fundamentals like resource estimates and project economics. Personally, I’ve long seen LND’s value closer to £90m, though I rely more on H&P’s detailed work.

I respect your perspective on brokers and share your long-term optimism for LND’s potential, even if we weigh factors differently. It’s great to align on the bigger picture, LND’s upside makes it a compelling hold. Here’s to hoping the market catches up!

@Happyhaddock, thank you for your thoughtful response and for sharing your perspective as a long-term shareholder in Landore Resources. I appreciate your point about the speculative exuberance in the junior exploration sector during late 2020 to 2021, and I agree that some valuations from that period were driven by market hype rather than fundamentals. However, I respectfully disagree that referencing historical valuations is irrelevant, especially when broker analyses from credible firms provide a grounded basis for comparison.

Back in 2021, Cenkos issued a broker note valuing Landore at approximately £67 million, nearly double the market cap at the time. This valuation was conservative, as broker notes typically are, yet it still suggested significant undervaluation even during that heated market. In 2025, H&P’s recent broker note (based on the 2022 PEA) values Landore at 12p per share, a figure implying the current market cap is roughly three times undervalued. These independent assessments, spanning different market cycles, reinforce the case that Landore’s intrinsic value is not being reflected in its current share price.

To further illustrate, consider a comparable from 2017: a company with just over 1 million ounces of gold in a less favorable jurisdiction was acquired for £168 million when gold prices were only $1,260 ounce. Landore’s BAM Gold Deposit, with its robust resource and favorable Canadian jurisdiction, compares well, yet our market cap remains a fraction of such valuations. While I agree that 2021’s speculative highs shouldn’t be the sole benchmark, the consistent gap between broker valuations and our market cap, both then and now, points to an extreme undervaluation driven by market sentiment rather than project fundamentals.

Macro factors, such as rising gold prices and increasing demand for quality gold assets, further strengthen Landore’s appeal. I believe the market will eventually recognize this value, and I remain confident in the company’s potential to deliver significant returns, even without relying on a return to 2021’s exuberance. I too like yourself have been an investor in LND for several years and have taken advantage of the low price shares too.

In 2021, Landore Resources boasted a market capitalization exceeding £35 million, driven by a NI 43-101 compliant gold resource of 1 million ounces, with gold prices at $1,800 per ounce. Fast forward to today, Landore’s market cap has inexplicably dropped to just £14 million, despite a significantly enhanced NI 43-101 gold resource of 1.5 million ounces—a 50% increase—and gold prices soaring to over $3,300 per ounce, with some industry experts forecasting a climb to $4,000 by year-end. This stark contrast highlights a compelling case of undervaluation, as the company’s strengthened fundamentals and the bullish gold market are yet to be reflected in its share price.

Adding to the investment allure, Landore is entering a catalyst-rich phase. Highly anticipated drilling results are expected imminently, which could further validate the quality and potential of its gold assets. A resource update scheduled for this summer promises to showcase the expanded potential of its flagship projects. Furthermore, the company’s strategic focus on high-grade gold deposits in a tier-one mining jurisdiction enhances its appeal, positioning it for significant upside as global demand for gold continues to surge amid economic uncertainty and inflationary pressures.

Landore’s robust exploration pipeline, coupled with a favorable gold price environment and upcoming milestones, presents a unique opportunity for investors. With a proven track record of delineating substantial resources and a clear path toward unlocking further value, Landore Resources stands as a deeply undervalued player in the gold mining sector, poised for a potential re-rating as the market recognizes its untapped potential.

For balance market volatility and operational risks could pose challenges.

I see storm was up 100% yesterday we have a considerable position in that stock is something happening regarding them?

The link below is well worth a listen and why people should be investing in gold miners/explorers.

His thesis is gold could well move from 3250 today to 4000 within a year. About 20%.

But gold in the ground will move 5x and more. So why settle for 20% when you can get 500+ % by buying miners/explorers.

https://youtu.be/cIQG01DRxHk?si=2Q5oR2at8k7Z14Lk

Part 2

5. **Extending Existing Holes or Drilling New Ones**

In some cases, existing shallow holes can be deepened to test down-dip potential, saving time and cost. At BAM, several holes in the 2020-2021 program were extended into the footwall zone to chase deeper mineralization, such as the bonanza-grade gold intersected in 2021. Alternatively, new holes are drilled from surface or offset positions to reach untested depths, as seen in the 2025 program’s focus on testing "considerable down-dip potential" with 3,500 meters of drilling.

6. **Monitoring and Adjusting in Real-Time**

As drilling progresses, geologists log the core in real-time to identify signs of mineralization (e.g., visible gold, quartz veinlets, or alteration). At BAM, visible gold has been noted in high-grade sections, guiding further exploration. Downhole surveys are also conducted to ensure the drill path stays on target, adjusting for deviations caused by rock hardness or faults.

7. **Testing Continuity and Grade**

The aim of down-dip drilling is to confirm whether the mineralization persists at depth and maintains economic grades. For BAM, past campaigns have intersected significant grades (e.g., 17.45 meters at 4.13 g/t Au, including 5.98 meters at 9.80 g/t Au), and the 2025 program seeks to upgrade inferred resources to indicated while testing higher-grade potential. Samples are sent for assay (e.g., to ALS Minerals in Thunder Bay) to quantify gold content and assess continuity.

8. **Overcoming Challenges**

Drilling deeper introduces challenges like increased pressure, harder rock, and potential faulting (noted as minor at BAM). Specialized equipment, such as powerful rigs and durable drill bits, is used, and sufficient funding—like the £4.28 million raised for BAM in 2024—ensures the program can handle these demands.

In summary, testing the down-dip potential at a deposit like BAM involves leveraging geological insights to target deeper zones, using angled diamond drilling to intersect the mineralized structure, and systematically sampling to confirm extension and grade. This approach has already expanded BAM’s resource to 1.5 million ounces, with ongoing efforts aiming to unlock even more potential at depth.

To drill deeper and test the down-dip potential of a gold deposit like Landore Resources' BAM Gold Project, several key steps and techniques are employed. The process involves geological understanding, strategic planning, and the use of specialized drilling methods to extend exploration beyond the currently defined mineralization. Here's how it’s typically done:

1. **Geological Modeling and Target Identification**

Before drilling deeper, geologists analyze existing data—such as previous drill results, geophysical surveys (e.g., induced polarity anomalies), and surface mapping—to build a 3D model of the deposit. For the BAM project, the gold mineralization is hosted within sheared and altered rocks of the Grassy Pond Sill and BAM Sequence, striking east-west and dipping steeply to the south (around 65°-80°). Interpretive work suggests tabular zones of mineralization with a westward dip of about 30° in some areas. This model helps identify where the mineralization might extend down-dip (i.e., along the plunge or slope of the mineralized zone).

2. **Selecting Drill Hole Locations**

To test down-dip potential, drill holes are positioned to intersect the mineralized zone at greater depths. At BAM, the deposit is open down-dip, meaning the full extent of mineralization hasn’t been reached yet. Holes are typically planned to start from surface positions offset to the north (since the deposit dips south) or from areas along strike where shallower drilling has already confirmed mineralization. The goal is to angle the holes to cut through the projected continuation of the orebody at depth.

3. **Choosing the Right Drilling Technique**

Diamond core drilling is the preferred method for testing down-dip potential in deposits like BAM, as it provides intact rock samples for detailed analysis. At BAM, HQ-sized diamond core drilling has been used extensively (e.g., in the 2020-2021 campaign with 24,171 meters drilled). This technique allows for precise targeting and recovery of core samples that can reveal gold grades, host rock characteristics, and structural controls at depth. The drill rigs are set up to handle deeper holes, often exceeding 200-300 meters, depending on the target depth.

4. **Adjusting Drill Angles**

To reach down-dip extensions, drill holes are angled to follow the dip of the mineralized zone. For BAM, where the mineralization dips steeply south, holes are drilled at moderate angles (e.g., 45°-52° from horizontal) toward the south to intersect the zone efficiently. If targeting deeper, high-grade shoots (like those identified beneath the west and east pit shells), steeper angles or even vertical holes might be considered, depending on surface access and the interpreted plunge of the mineralization.

5. **Extending Existing Holes or Drilling New Ones**

In some cases, existing shallow holes can be deepened to test down-dip potential, saving time and cost. At BAM, several holes in the 2020

"Good day all, LND shareholders—wanted to share some thoughts on where we stand and why this could be a cracking opportunity. At 3.3p, the share price has us at a market cap of ~£10m, valuing BAM’s 1.5 Moz gold resource at a mere $9–$10/oz in the ground. Compare that to junior gold explorers on AIM or TSX-V, often trading at $20–$50/oz for similar assets, and it’s hard not to see this as a bargain begging for a re-rate. Low prices like this can signal risk, sure, but they also scream potential for those with patience.

The 3,500m drill campaign that kicked off recently could be the spark. It’s not just about adding ounces—though pushing past 2 Moz is on the table—but also upgrading the 0.47 Moz Inferred to Indicated, thanks to state-of-the-art tech from TECT’s structural work. They’ve reinterpreted the BAM geology to target higher-grade zones (past hits like 4.04 g/t over 9.25m hint at what’s possible) and extend the deposit down-dip and along strike. The Junior Lake shear zone’s 30km+ potential adds extra spice—soil sampling already shows gold anomalies stretching east.

The payoff? An updated MRE in Q3 2025 that could solidify BAM’s scale and economics. The 2022 PEA gave a $231m NPV at $1,800/oz; fast-forward to gold at $3,000/oz (or more not far-fetched given the trend), and a bigger, better-defined resource could see that soar—maybe north of $300m. That’s a disconnect worth watching: a £10m market cap versus a project that could justify multiples of that.

Balance-wise, drilling’s never a slam dunk—grades could disappoint, or continuity might falter—and AIM’s appetite for juniors can be fickle without big news or institutional buzz. Funding for the next steps (like the 2026 PFS) might need a raise, too. But with gold shining, sota tech guiding the drills, and a resource already in hand, this feels like a low-entry-point bet with serious upside. Anyone else seeing the stars aligning here?"

Summary of Landore Resources Limited RNS Announcement:

Date: 12 February 2025

Company: Landore Resources Limited (AIM: LND)

Subject: Results of the 2024 Soil Sampling Programme at Junior Lake Property

Key Points:

- The 2024 soil sampling was conducted at the Junior Lake property, specifically in the Toronto Lake gold area, extending the exploration eastward from the BAM Gold Project.

- 255 soil samples were collected over a 3 km² area, identifying new gold anomalies for future exploration, including drilling.

- The sampling extends the known gold potential along the Junior Lake shear zone, which spans over 30 km.

- Highlights include:

- Confirmation of anomalous gold in an underexplored area, suggesting potential expansion of the BAM Gold deposit or discovery of a new system.

- Extensive soil sampling now covers 20.8 km along the shear zone.

- Upcoming results from a structural assessment and infill sampling of historic drill core at BAM Gold are anticipated in Q1 2025.

- A 3,500-meter drilling program is planned for early March 2025 at BAM Gold to better understand the orebody structure and resource potential.

Additional Information:

- A comprehensive report on the 2024 soil sampling can be found on Landore's website.

- CEO Alexander Shaw expressed optimism about the expansion potential and the possibility of discovering higher-grade gold, aiming for an updated Mineral Resource Estimate (MRE) by mid-2025.

- An interactive investor hub is available for further engagement and Q&A with the management team.

Agnico eagle on the prowl for junior miner O3 it has until Jan. 23, 2025 to accept the offer. Marban hosts open pit and underground resources of 67.6 million indicated tonnes grading 1.09 grams gold for 2.3 million oz., and 3.1 million inferred tonnes at 2.21 grams gold for 223,000 oz., according to the 2022 prefeasibility study.

In a base case scenario of gold prices at $1,700 per oz., the post-tax net present value (at a 5% discount rate) comes to C$463 million and the internal rate of return is 23.2% with a 3.5-year payback period.

We have got less indicated ounces but with the work being done and the new drilling campaign in 2025 could close the resource size gap with O3 and with a bit of luck we could be in the same position take a look at the full article On mining .com I can’t provide the link sorry.

Gold glitters as investors seek safe haven amid geopolitical tensions

“…Gold prices surged to an all-time high of $2,730 (£2,093) this morning as investors sought safe-haven assets amid rising geopolitical tensions…”

https://x.com/landore_plc/status/1848599841766600744?s=61&t=6K_pEjP2Nc3fR7IuXOHvOQ

Over two-thirds of today’s junior miners are essentially worthless, says resource speculator Rick Rule.

The problem is the market has trouble spotting the gems with high-quality assets, which often end up trading at similar valuations at the 85% of companies that are unviable at any price, Rule said.

“There is a subset of 10 to 15% of issuers in the junior sector that are very viable companies and suffer the same valuations as the lame, the halt, and the blind,” the host of the Rule Symposium told The Northern Miner’s western editor, Henry Lazenby, last week in Boca Raton, Florida.

Rule gave advice on how to spot opportunities in the juniors and discusses how metals prices influence equity valuations. He also explains how the finance landscape has evolved, and how his countercyclical investment philosophy works in the current environment.

Watch the full interview:

https://www.mining.com/video-junior-market-dominated-by-the-lame-the-halt-and-the-blind-says-rule/

You have to give Glenn and all the people involved massive credit for securing these investors and the future of LND. I can honestly say I am looking forward to this new regime with Alex Shaw at the helm and ultimately watching us going from strength to strength in the coming months. I believe there could be one more TR1 to come I wonder who that could be?

The junior mining space is so beaten up that there are a raft of opportunities for investors looking for exposure to the energy transition, and to rising prices for GOLD, silver and copper, delegates at the recent Energy Transition Metals Summit heard. 

“If you’re an investor and just new to the space, there’s some ridiculous valuations out there of companies that have made significant discoveries that are needed in the energy transition,” said Terry Lynch, the CEO of Quebec-focused junior Power Nickel (TSXV: PNPN). He sat on a panel outlining both the challenges facing juniors and their potential upside. 

“We’re not talking about greenfields,” he said. “We’re talking about serious, 43-101 resources that’ve got considerable upside,” he said, referring to the technical study designation. The projects have strong net present values and internal rates of return that normally should trade at five to 20 times higher than they are, the CEO said.  

Lynch, the founder of Save Canadian Mining, which fights predatory short-selling practices affecting junior miners, also spoke about how different rules for some traders like hedge funds allow them to pound down junior valuations. 

On the positive side, there are signs that what has been a very difficult fund-raising markets for juniors is starting to turn, according to John Feneck, founder of Feneck Consulting. Since March, gold and silver CEOs in the junior space report they’re having an easier time raising funds, he said.

“That turned the corner last year, with gold’s breakout right now and then silver’s follow through,” he told delegates. “Where it would take them maybe a month to raise three or four million, now they’re doing it in two or three days, which is really exciting to see.” 

The Energy Transition Metals event was organized by The Northern Miner and Precious Metals Summit Conferences and took place April 29-30 in Washington, D.C. 

A very interesting article and like I’ve said previously we have (3 ) Ni 43-101 resources in Canada, in a tier one Jurisdiction, all with considerable upside.

As it stands the metal prices are coming to us with Gold, Copper and Nickel all on the up. I would prefer a full sale if possible or wouldn’t mind a JV or earn in to the project by a recognised company. Things must be getting close and I’m expecting us to keep on rising steadily until news lands.

Storm have raised c$310,500 recently so they do have funds I wonder if they will pay us?

VANCOUVER, BC / ACCESSWIRE / April 23, 2024 / Storm Exploration Inc. (TSXV:STRM) ("StormEx" or the "Company") is pleased to announce that it has today closed the Company's non-brokered private placement, previously announced on March 14, 2024 (the "Offering"). The closing is subject to final acceptance of the TSX Venture Exchange.

Pursuant to the Offering, the Company has issued 6,210,000 units (the "Units") at a price of $0.05 per Unit, for aggregate gross proceeds of $310,500.