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Yep, basically we are trading at a huge discount! This stock is extremely good value and surely won’t remain at these levels for much longer.

Very informative interview. The 130MUSD company valuation doesn’t even include Kroonstadt - it just includes the Jelani/Harmony JV and the US resources that have been verified to date. Once commercial terms on the JV with Harmony have been agreed (which of course assumes mining is commercially viable from Harmony’s perspective) we should see the share price increase substantially. Exciting times ahead!

Some extracts from the article for those who cannot access it:

Takeover activity in the sector has gone into overdrive. There were some significant deals towards the end of the last decade. In 2018 Randgold Resources, the London-listed African goldminer, agreed to an $18 billion all-share merger with the Canadian miner Barrick Gold. In early 2019 the New-York listed giant Newmont bought Canadian Goldcorp for $10 billion.

But it is in the past two years that mergers and acquisitions activity has really intensified, thanks partly to the bull run in the gold price, which has helped to renew interest in the sector. The Canadian Agnico Eagle bought its rival Kirkland Lake Gold for $10.7 billion in 2022. That same year, the London-listed Canadian Yamana Gold agreed to be bought by Pan American Silver.

Last year there were 30 gold M&A deals, according to analysis by S&P Global, including Newmont’s takeover of Australian Newcrest for $17 billion. It was the biggest deal ever in the industry and meant that, overall, about 223 million ounces of gold in reserves and resources exchanged hands in 2023, S&P Global found. Last month South Africa’s Gold Fields made a move on Osisko, of Canada, for $1.6 billion.

London’s miners look ripe for the taking, though the industry has already been thinned by the exodus of Russian goldminers from the exchange in 2022 following the invasion of Ukraine, including the former FTSE 250 miner Petropavlovsk. There has been a shortage of new miners coming to market to replace them, as London’s appeal as a listing venue has waned — former Yamana Gold boss Peter Marrone picked the Toronto Stock Exchange as the home of Allied Gold when it listed in 2023.

Interesting article in the Times today:

https://www.thetimes.com/article/4ce1a8a8-0018-4ab4-bd9c-9724f450d16d?shareToken=5744c7faea97be667604d7c41435d622

Great news - do you think the idea is for LEX to sell its interest in the JV to Harmony or potentially another miner? Given current gold prices what would you estimate the value of LEX’s interest in the JV to be?

Totally agree with the above. WH Ireland is saying the share price should be 3x plus current price and the stock is low risk. Great buying opportunity at this price!

A fantastic JORC which also suggests that resources could be increased further once more drilling has been undertaken. This share is going to fly!

With the activity we’ve seen today it would suggest to me that the announcement in relation to the assay results is due very soon and that this will be positive. GLA

I seriously doubt this has anything to do with the perception of the BoD. The reduction in SP has more likely been caused by some short term investors taking their profits and moving on to their next target. On AIM the SP can move significantly with very small trading volumes. I suspect anyone who has bought a reasonable number of shares is still invested and waiting for the SP to ?? which I have every confidence will happen

After all the recent very positive news it is really difficult to understand why anyone would want to sell their shares now...it’s bordering on insanity. The share price should be well beyond the price it peaked at (temporarily!) a few weeks ago, bearing in mind the potential value in this company is continually becoming clearer. Now is the time to hold onto your shares if not buy some more at a significantly discounted price!

Totally agree with you - this is very exciting and over the next few months I expect to see a steady increase in the SP as more good news rolls in. GLA

Agreed, the directors have too much skin in the game for this to go bust.

Thanks - appreciate that

Long term shareholders are certainly owed something by the Board, so the fact they are heavily incentivised to turn the company around should certainly help. Even to get the share price back up to 1p would be a great start!

My late father bought millions of these shares and invested hundreds of thousands in this company (I still wonder...why?) My brothers and I still hold the shares having hoped for an improvement but seen them decline to being worth virtually nothing. We have seen a few false dawns over the last 3 years and frankly thought all was lost, but things are starting to look more positive which is very welcome. For all those who have been investors for a long time - and all other shareholders - here’s hoping for some good fortune! Looking forward to seeing how matters develop over the next few weeks and months.