Member Info for samval2403

Midas, if Leap wanted to stop growing and just take in the profit they could do that pretty easily now. Company in advanced part of the growth stage, hiring new staff, expanding their markets with fresh partners and licenses. Once the pieces are in place at IMG Endeavour, Leap are already prepared to transition into a multi billion quid gaming empire.

Seed will take over 40% of that exit. Leap's current profitability not so much of a problem, it's a growth stock that hasn't stopped growing.

Agreed Sport, 5 year period looks standard based on past options. Plus they've really not dished a lot out this time.

Options should exist as performance based incentive. Would have preferred 30p strike price but I'll move on from that quickly.

Thanks for sharing Samroy. The first one was pretty interesting on the sampling, enjoyed it for sure. Soil sampling has been good to Landore at junior lake, hopefully that continues.

The second doesn't really make the best case for Landore, according to this guy the grades aren't good enough. Another of his key points in good management here questionable too. Brancote was a huge success but Patagonia certainly wasn't and they could well be on the verge of having two significant and yet valueless deposits at Landore if the strategic review doesn't go well. We will certainly face significant dilution in any future raise if they crack on.

For me the PEA is way better for the layman imo because we've got the figures. They show why £20m mcap isn't right here as much as any drill results.

I'm with Barwick here, who cares about a £46k investment in a fund with a £19m NAV. If it went up 5x it still wouldn't even pay the wages for a year. It wasn't even worth of an RNS.

Leap is the only catalyst that'll move this SP up. Stuff the rest for now.

I've got give Berty his dues jdt. He's made a series of top calls this year, a lot of them were derided by the tweeters when he made them too. He has been calling $2k gold for a long time as well. Let's hope he's correct, in a shorter timeframe than end of year ideally.

I'm a big fan of seeing those "it's over" type comments Matt. If the company is half decent it normally means the bottom isn't far away in my experience.

Tbf Bod it absolutely can, if it didn't drop there likely wouldn't have been more buys than sells.

Simple fact is the RNS showed a slight ambiguity, and a 2 and bit month wait until next news on the strategic review. I thought it'd be well received due to the defined timeline, clearly not though. Tough market.

Landore don't get enough new investors taking over from the tired ones, they see the SP falling and don't believe in the company. I didn't even consider LND until it hit 20p the first time last year. I have a watchlist full of stuff I'd like to buy. People see opportunity away from here, that's cool, good on them. Everyone that sold made the right short term call. 18p past support so we could hold here for a little bit, might dip further. Up seems least likely in the near term.

I say this whilst my holding here is still growing, I'll get some more in August + September too before SR news.

100% of retail traders currently have a better entry point opportunity than my lowest buys in LND jdt :D

Very clear problem the deeper we get is how binary this whole thing has become, at least in my opinion. Landore look already to be priced to not succeed, and that's only getting worse.

You'd have thought with the events of the last year, October 2021 (and earlier tbf) when Bill said the goal was to sell, then a 1.5moz MRE in Feb + PEA in May with $330m pre tax NPV came out there'd be a herd of believers here. I know they exist but some clearly tapping out.

I agree company strategy now is clear. Only 1 goal. Get a buyer from the strategic review. They're spending all the money in the company in 2022. The soil sampling + new target works is the company spreading their resources as wide as possible to paint the big picture for suitors. They're trying to add those cherries on top; aimed at getting someone to buy the full assets of the company, but leaving something on the table for them like Bill suggested.

If the buyer doesn't come then they have to go on, new investors, new raises, and in this market for sure moredestruction of LTH value.

I'm happy backing the company, they've got the experience to see this through. When the time comes I believe they'll make the best decision for shareholders. Similar assets have sold in the recent past, these can too. Fair value for BAM's 1.5moz and throw the rest in for free I'd be absolutely chuffed

Got a little giddy with the exchange rate earlier. It is actually 83.75p to the dollar. $143.3m for a quid a share with 120m in issue. Still stand by my bullishness earlier, even $80 an Oz for the 1m Oz indicated is 55.8p a share on the same basis

The macro environment may make any potential deal dead in the water as uncertainty rules, for me though I'm sticking with my hopes that it only takes two bidders to get this sold for a good price

I'd like to say I was testing on the FX rate to see who'd dyor but that'd be a lie :D

It certainly will be nice in a few days to potentially lower shares in issue expectations when thinking about possible sales prices. Another huge positive on that front is dollar Vs sterling is improving for us day by day right now.

I've been working on 136m shares for as long as I can remember, 118-120m ish likely (including all the outstanding options). $140m sale would be a quid a share (before tax) on 120m shares, 86p to the dollar. Even $100m is 72p a share. The low end is increasing IMO thanks to the dollar strength and warrants expiry.

Other options are available.

Jdt, that sort of price would be for a full BFS project. It's not that long ago projects were going for $80 an Oz idn Canada and they'll have been more advanced.

Landore pre tax NPV is $330m or so, they aren't going to achieve those sort of figures you mention on the full 1.5m Oz. $100-150m they've done well for an early sale, hopefully somewhere closer to upper end with PFS.

Still multiples of current SP of course.

OilyRags, Squirty and Calamari both have good reasons why the thread was taken down. Codejunkie kind of proves calamari's point. "Both supporters and trolls play this game" from Squirty is fair. The 'supporters' always the loudest and most obnoxious here.

You'll notice if you go through mine, alfredh, loudspeaker, maya(can't remember the last part of their name) where the good discussion was and who was looking poor from it. Loudspeaker in particular doesn't like dissenting voices. Using code for swearing btw is childlike.

Say this out loud and soak it in 'supporters', not everyone on a board has to believe their investment is a 100% certainty to strike it big. We are invested on a balance of probabilities.

OilyRags, I believe the 'supporters' got it shut down (shame to you and Alfred posted some great info) after their feelings got hurt and they reverted to their standard 'troll' name calling. A couple of them struggle so hard to understand any future for BMN that isn't BMN as a VFB superpower making shedload of cash with no problems. Blinkers always on, no balance of probabilities.

Before any of the blinkered brigade start I'm invested here, and believe there is a good chance for a bright future. Here is a comment I made on this forum before commenters got so defensive. "For me I still love their chances, Q2 report can allay a lot of fears here. AR showed the company are prepared and will capitalise on a favourable environment"

That peak on GDXJ just 2 1/2 months back

Peak to bottom GDXJ down 35%

It's not a good time in the markets right now, junior miners getting the same (worse?) beatings as most participants.

Interview with Bill likely next week on TMS, hopefully he will assuage some of the fears here.

Bit harsh Longlad, still on wait and see mode for me.

Cannabis investments (large ones) down to 1 awful, 1 very bad and one very good in current terms. Leap can come at any time and range from (hopefully) a decent to incredible return. Enough to be optimistic about.

Yep AM90.

Pure FUD, asset sellable in current state. Main questions are sale price, and if the board get offers in line with their expectations (which is the part I'm less sure of with just a PEA and 1g/t grades).

As it stands Landore could get £100m for the PEA asset and a miner could make a profit on that alone. Growth potential widely acknowledged as brilliant, there'll be interest. The main uncertainty is on what level.

Glad you agree it's a possible medium term issue AM90.

Mood in the upcoming interview will be important, crucial even. It is imperative to see some bullishness on the strategic review. For drills and results I don't think they'll take the SP up much, holders are so focused on the strategic review. If anything poor ones could see a fall. Outsiders unlikely to buy if they don't think the strategic review will end in at least a JV.

For me, I'm looking forward to hearing about the PFS, it takes even more risk out of the project than the PEA. It will also be done with the current rampant inflationary environment taken into account. That doc; particularly if Felix drills are good, could get a company to pay a significant part of the NAV (assuming it's similar to PEA).

Still trying to keep low expectations to avoid disappointment overall. Roll on interview and July 14th!