Member Info for Sanboy

I for one am. LTH GGP and this has some huge potential

San

I've been in ECR a few months and am a LTH on GGP. Great potential here

San

looks like estimate has risen to 12.5moz on Havieron and don't believe that takes into account copper. It also covers known drilling and estimates, not continual drilling next year. Both SOLG and GGP have huge potential here with some big resource under their feet.

San

Sorry missed your post belderino stating you had seen it. All healthy debate. Solg will be a longer game than GGP, but the spoils will be bigger

San

Have you checked the new broker note at 33p target price ? I wouldnt put any weighting on Berenberg as they have been off the ball with this. It will be interesting to see what Hannam Partners say as they will be valuing against the MRE and estimates of the Breccia Zones. The fact that the mineralisation at recent holes have see strong grades and they all remain open suggest a very low initial estimate. As I mentioned Cadia went from a very low estimate to being the second largest mine in AUS behind Kalgoorlie. Also its worth noting that Bulk mining process has been confirmed by Newcrest meaning low cost and the mine is already set up to process the ore some 40km up the road.

San

Guys im in SOLG and GGP, but you dont know what you are talking about when it comes to GGP. The inferred maiden estimate was 4.2moz AU equiv and only covered an area of the license, missing most of the Northern Breccia and completely missing Eastern targets. The holes are at open at depth and mineralisation is continuing. Cadia mine Initial resource estimate was 6 moz on more holes than GGP and now its 37moz I believe. The resource wont just double it will quadruple in size. If you need to know more about GGP then go on the board or on the telegram. Lets keep this to SOLG discussion

San

Spot on. BTW they will be a producer on Havieron as they have taken a 50 million loan agreement at Libor and 8% interest, which they will refinance out. The 50 million covers the capex cost for their 30% part in getting it to a mine, which they may pay back on the sell of the 5% offer if that is the valuation. SOLG really need to be doing something like this or it will take a very long time to get revenue in. GGP will be mining in 2/3 years on a (not confirmed yet) tier 1 asset. Anybody got any thoughts on SOLG strategy change?

San

GGP collapse. Have you seen who they have appointed...Shaun Day!

San

Gervaise doesn't have the experience for RIO Tinto. He said in the interview that he needs to step aside so GGP can appoint someone with more expertise to get GGP to the next level. Gervaise is a legend in my book but this is a brilliant move for share holders

San

San

Meerkat don't worry about posting anything embarrassing it's an open forum

San

Fair play Jet some great words there pal. It does bring it all home. Family and friends are much more valuable than financial fortune. Remember to cherish the moments you have with loved ones, especially during the Christmas period. TMT Stay strong

San
Sam

Actually try them with bacon... really nice

San

Why do you disagree with the market price?

San

I'm shocked at how many private investors still believe mcap is based solely on valuation of assets. The statement that 1.3 mcap is too high based on havieron MRE and Scally blah blah. Mcap is based on the potential of the company and that's underpinned by the supply and demand of the shares in circulation. Example. Next week more shares will be purchased ahead of GDXJ taking another whack of free float shares. The share price will shoot up causing the mcap to increase without any changes to the asset valuation. The demand for the shares outstrips supply meaning the only way to make a market is to increase the price. The only reason the mcap is where it is is because big institutions and ETFs are absorbing shares as they understand the future potential meaning a higher mcap than current MRE evaluation.

San

Declaration of amount tomorrow and then buy on the 18th Dec. Enough time for front loading next week :)

San

They have 50 million loan agreement with newcrest at LIBOR 8% interest rate... will be refinanced out at a later date for a better interest

San

Oh my days Tiger. You need to read the RNS and use a calculator to work out the value with a low AISC , current gold price , current copper price and then come back with a figure... You will find it is worth 1.2 billion

San

But what is their debt position, what is the state of their mine, shares in circulation, location of the mine, any additional licenses... Pointless post

San

EUA are on their journey so no point in comparing. All good here

San

They are 2/3 years from production and the mcap reflects the correct calculation on the MRE, which is around 1.2billion based on low AISC bulk mining. Now if you see that they have only calculated an area of the licence and not the full Breccia zones to the North and East then you start to get an understanding on why this has the biggest potential of all AIM stock. The deep holes are still open and mineralised, so I would estimate that this initial calculation will grow by 3/4 times to around 12-15moz (incl copper estimate). Now add to that Scally and the JV on Juri and you have an mcap into many billions. Im in EUA and hope for a buyout, but to say the fundamentals are better on EUA is crazy talk

San