Member Info for samval2403

Looks like they all bailed when 20p didn't hold.

Smart money IMO waits 3-4 weeks now, nothing gained while this likely drifts a little from here. Not that I've ever been one of the smart money in my 10 months in Landore, two opportunities to get 30p that I didn't take.

I'd just be happy to see less Earl's here tbh Trek, price wise Landore is elite value mcap Vs resource and doesn't need them. I am excited for phase two of the strategic review, it would be good to see some front running before October.

Bye for now Earl, see you again back end of September for the strategic review run up. That'll be an easier 10% (IMO DYOR etc) :)

Earl is back for his 10%

Oneforthemoney / Adam awful banter. Do better.

You've never in your time(s) here had anything useful to say about Seed. You could bring some new information for the users. You could start a discussion on something you'd like to know more about. You could discuss various future prospects for the company. Just do anything other than this useless sniping at other users.

You might not like what Longlad has to say but they've been here a long time and they make some relevant complaints. You add zilch here.

I was playing on how Doggo says you're both the same person, just a little joke ODONNELL

Adam, we know Longlad has friends. Doggo said he's close with ODONNELL :)

Maybe make a few less assumptions here, you've already been banned once and you're starting to get a little mean again. You might have to work on being a decent human being yourself

Longlad, I've been around here long enough to get why you're bearish. I enjoy reading a fair few of your posts. I like to hear the other side, I always thought Midas was a top contributor here for example. Unless or until Leap reaches liquidity your opinion of the company will eventually be proven correct.

As always with Seed there's a chasm between your thoughts and the other side like doggo, and chasms between both of those and Joe PI. My main point is the dreaded f word isn't something I see happening at this level. It's way too blatantly spitting in the face of Joe PI to be gotten away with.

Almost autumn Longlad, Leap hopefully brings us out of our misery in that period.

It'd be the exit of a large number of PIs if there was one Longlad (myself included)

It also can't be justified. It would be well under 50% of the NAV, Mr ' I wouldn't sell the fund for £50m' would have a lot of explaining to do on what investment is worth that raise

When there is supposedly a significant liquidity event due this year, even if pushed into H1 2023 it'd be a terrible decision to get the tin out now

They also do not to raise to keep the lights on, no reason for it Longlad. It'd be nice if you skipped the odd opportunity to post a bearish comment here

Even £10m is more than the market cap. They do not need much to go right to go up from here.

At the same time I can't believe someone sold a decent sized chunk for 18p this morning. This is the buy zone if you're lucky enough to have not taken your full position already.

Yes low teens on the cards if Strategic Review fails. If it doesn't you can reasonably 3-4x your money available. Many argue much more.

Matt, you were right the other day when you said about maybe taking a step back. As Michu said Mads probably has forgotten more about this than you (even with your significant research) know now. You're just coming across as mean-spirited.

I've read enough PGD stuff to know it's a shambles, we know from Mads here that the Brancote resource didn't make it. Landore have spaffed (maybe too harsh a word but I'm using it) 3x the market cap on drilling, but want to play hardball at the negotiation table. No company is getting $200m; Bills upper range, out for this. If FS stage USA juri 1.6moz gold is worth $185m BAM is worth maybe half that, and I'm yet to see a credible arguement that the battery metals are worth much more than Cenkos value it at. AISC for that was $13k dollars years ago, that'll at least 1.5x by now and nickel is only $22k.

We know the board do not want to let this go cheap, so when they don't take $110m for the PEA resource what next? PFS likely won't be ready by the end of the Strategic Review if Landore keep to their normal timelines too so no premium for that.

The difference now is the board are explicitly soliciting buyers. They haven't let us know that anyone has engaged of course, hence why we're reading between the lines, and at 2 year low share price. It's not a process I'd expect to have started lightly though, I have high expectations despite my dissatisfaction at the share price.

Despite saying the above, I certainly would have preferred them to hold a bit of cashback and not commit everything they have into drill programmes that'll need paying in 2022. End of September this either walks back into the high 20's or down to the low teens IMO based on the strategic review. If there is a raise in those circumstances it'll be awful!

19pish to buy though, as I've said all through my time here Landore risk v reward has always seemed comfortably worth it.

I think we've got to give the board the chance to add some value via the strategic review Michu. Couple of months to wait, and nothing has really changed here since you last posted.

I agree the end of the first stage though may well tie into the next raises timing. Landore's current SP clearly saying you're more likely to be right than Samroy.

The point below was made in the TG group the other day. I've got the same thoughts here too. After the recent low-medium low grade acquisitions we've seen there's ample scope for Landore to do a deal. $330m pre tax BAM NPV with a lot of room to grow, they can possibly at a guess 1.8x that just with more infill drilling.

"Lot’s of food for thought. Encouraging that LND falls in the sweet-spot of the mid-market size that has been most active. Cautionary notes that higher interest rates and inflation may impact ability to strike deals at the higher end of recent history. Makes sense with uncertainty over cost outlook. LND’s truly remarkable IRR should be very attractive in this environment though. And I would hope that the comparatively low price that Junior Lake might attract (i.e. < 150 million ish) would not rely on any kind of complicated debt structures for the buyer, so hopefully that hurdle is unlikely to be an issue.

I keep re-reading the details of the Apollo transaction. It feels like it has so many parallels to LND except that LND have a much more developed Nickel sulphide offering and slightly lower Au grades, although the summary figures for their Rebecca deposit at least look very similar.

The original offer on Apollo was 128 million CAD which equates to roughly 80p per share LND.
The final offer was 181 million CAD which is £1.14 per share LND.

With the current economic climate maybe management would be realistic to consider the lower end of this range, but with the lower end of this range being 90 USD / ounce equivalent, and many examples of deals above this for similar(fish) resource size, it really is hard to see the logic in any pricing coming in substantially under this, especially considering jurisdiction and clear exploration potential (cue the upcoming Felix and Lamaune results). Strikes me you either get a deal around this price point, or no deal at all."

pumpedordumped dot com

Found this earlier and had hearty chuckle at number 1.

http://******************/rampchecker/rampcheckbytidm.php?search=LND

Hello UR,

Thanks for the correction. The below excerpts of the annual report and the stats you mentioned led me to believe they'd reduce the meterage.

"The Board also notes the significant degree to which future expenditure is uncommitted. Whilst the Board is pursuing maximum progress at Junior Lake, in a downside scenario the Board has significant scope to control costs"

"The Group will continue to consider all options to maximise shareholder value including reviewing the planned drilling programme" though they do mention the possibility of raising after this.

As you say, plenty of possibilities.

Nice to see BH buying today. It's been well commented how his average here is higher than most, 49p just to get the money he's put in out of his own pocket back (inflation adjusted) by my calcs. As much as there is uncertainty around how the SR will go and targets for it amongst us all, this show of faith from the man at the top is universally a good thing.

"What is clear is that there has not been sufficient interest so far, and there is no sign of a bidding war."

I believe this too. Perhaps the board want to go deep with this process, almost turn it into a sort of auction / sealed bid auction process in after September but there isn't a party snapping this up clearly.

I was hoping Gold Road came in and bid this up straight away, but the parties seem to be playing out the full SR process with Strand Hanson. Whether there is strong or weak appetite we don't know.

Also @Bod, they've taken some meterage off the drill program to account for less funds.

Good post Bod. Some stellar points.

"mattja and samval tried to convince me that the share price was dropping because there were more buys than sells (!)."

That wasn't really what I meant Bod. I meant more that because the price had dropped that's why we got more buys than sells. Tbh I think the whole more buys than sells or more sells than buys thing is rubbish overall anyway. VWAP the better indicator.

Matt. I normally like to read what you have to say, these comments are out of line today. I'm no geo, but I've learned enough that those two videos were largely telling me things I had already learned. Just because you're more knowledgeable on something doesn't mean you should disparage others.

I quoted the comments in the video at face value, based on the mindset of how you'd see things if you were learning this for the first time. As you say the reality is different. You should be less of a know all about it still Matt.

The geo says that open pit is classed as 10s of metres from the surface. Our gold is at the 100m+ point right? Going down to the 250/270m ish range? That's underground range according to the video. Yes I know the plan is to open pit the gold, but in the video he says stuff at our level is underground mining. For that he states he wants plenty of 5g/t +. 1g/t + for open pit of 50/60m down. BAM a lot deeper than that.

Drill results wise, plenty of good intersections. I've caught up with a fair few. Lots of 1,2,3 g/t intervals over varying lengths is my immediate recollection. I do not need to read the full NI43-101, the PEA RNS gives me everything I need to know.

The geo says he wants good management that have a record of success. Patagonia rinsed their shareholders over the years and destroyed their value. So poor that Bill had to 'retire'. I'll note how Landore got unlucky with the Nickel+ deposit so won't give them too hard a time for the SP here over the years, but it certainly is not a success just yet.

"This is a textbook, profitable, low risk, open pit gold mine in a top tier jurisdiction." I'd like to think this is true. From what I've read value of projects tends to be lowered as it goes through PFS and DFS stage as risks are quantified and criteria to mine generally being risk averse. I expect way more learned people than I to be assessing this of course.

Midas, agreed on the opportune moment potentially having passed for Leap. The gaming stock market hasn't been the nicest place this year.

Tbf Seed do have a good spread in terms of the short, medium and long term plays. The cannabis stuff has had a tough market and sometimes I actually think that we should focus more on how well they did with Eurox and give the others a chance to catch up.

Whatever happens, my initial investment will be taken off the table in the event of a successful story with Leap. We still don't have the Ed success seesaw weighted on the right side, so that this stock (this autocorrected to stuck, hopefully not an omen) can bridge the gap between the market cap and the NAV.

Final note, AIM funds aren't doing great right now and it's one I think about a bit. One I looked at PRIM are similarly 50%+ down on their NAV, ANIC only just trading at a small premium after trading at a huge one for so long. A few others I won't fill the board with.