Member Info for Seingred

Ddd, from first rns

The 2022 FS produced a Probable Mineral Reserve of 7.3Mt at 2.56g/t gold for 602,000 oz gold. Production averages 81,545 oz gold per annum for the first 6 years of an 8.4 year mine life. Low initial capital requirement of US$105.5 million (including contingency and EPCM contract) and low average.
This is an open offer not a rights issue and is open to uk residents . If they state the maximum ammount of shares that is the maximum ammount of shares that could be raised. Obviously it could be undersubscribed changing the numbers. Also if any offer is under 50 p some warrants may be eunuchs. I do not see d d being $160 tbh though.
Worth reading the recent rns a couple of times to get an idea of various possibilities .
Good work ddd, I think you are a bit on the plus side but 50 p works ok for me. Of course it is all dependent on how much someone wants it and the recent sanctions arnt helpful as the strategic rns states.

Ddd, from first rns

The 2022 FS produced a Probable Mineral Reserve of 7.3Mt at 2.56g/t gold for 602,000 oz gold. Production averages 81,545 oz gold per annum for the first 6 years of an 8.4 year mine life. Low initial capital requirement of US$105.5 million (including contingency and EPCM contract) and low average.
This is an open offer not a rights issue and is open to uk residents . If they state the maximum ammount of shares that is the maximum ammount of shares that could be raised. Obviously it could be undersubscribed changing the numbers. Also if any offer is under 50 p some warrants may be eunuchs. I do not see d d being $160 tbh .
Worth reading the recent rns a couple of times to get an idea of various possibilities .
Good work ddd, I think you are a bit on the plus side but 50 p works ok for me. Of course it is all dependent on how much someone wants it and the recent sanctions arnt helpful as the strategic rns states.

Awax, I think if fm wanted to cut their average they would have bought during the 36 p or 27 p raise. If they want to do a takeout they may buy on open market but I suspect that having experienced issues in mexico they may be cautious of getting involved in Nicaragua with sanctions anounced.

Mapp, why dont you get gloria Hunniford and the gals on it for you?

S t, well, I was thinking that stopping drilling and laying off staff is pretty much hardball close to negotiations that should have been concluded by now. As everyone has continually said 2 of the worlds biggest miners . Playing hardball with a minnow. Doesnt sound tops to me . We think this guy with hardly any shares is going to strong eye these industry giants? Ceos generally try and tell you what they think you want to hear if they can. The main consideration for guys like him is to make sure he gets another couple of years wages and any other benefits.

Ddd, if you look at the rns yesterday it gives you the ammount of shares that a full take up gives you , you dont need to guestimate, its there in black and white. The number has increased from the first rns from 4.2 m to 5 m total to raise. The number is pretty much 250 m undiluted if the raise is fully subscribed
26.438,255 plus mellons 6.6666666 plus mellons 16.6666666. Thats the maths unless it is undersubscribed. Galloway wont take up their entitlement which as I said probably is to keep within 30% my guess. So along with nic milling and fm not being entitled that leaves a fair ammount extra for cnr to place.

Slowly, I take that to mean he will not take up his entitlement on his existing holding. I am assuming due to the 30% holding.

Bhargav, cheers. Wont bother though. So Tim used to do similar job for frr . I had/have a modest holding that I bought as a punt and was well up when it got suspended. Long story short after 4 years now de listed not a word from the company. However many posters went to investor evenings looked the ceo in the eyes and were convinced by his sell even a couple of years into de list and no contact . You cannot trust any of these aim directors imv. Quite often it is better to stand back and analyse from a distance.
I live 300 miles from london and hold over 30 shares so agms are not on my to do list but absolutely if you can do it it makes sense and thanks for any info.
Currently at cnr, after 12 years in there most posters are dealing with the reality that they are not going to be rewarded much for their loyalty. Nothing wrong with the resource at all but the length of time the project has taken to get to construction ready , meaning significant dilution, the various hurdles and now us sanctions have really hammered the sp. 18 p today £2 early days of exploration but the sp record is not one of continual growth but spikes and re traces.
On that bb I have warned continually about various scenarios in advance and received abuse from a number of posters over the last 5 years but every warning has been borne out and having claimed justification of many ££££ p share they are finally hoping for 50 p takeout Thankfully I have managed my holding so as to not be much under water.
Long post I knowbut a bit of insight into why I am cautious with any of these companies.
Added a few yesterday. My ultimate aim is to sell 20% on a spike around 20 p and have a free holding which in my wierd way of working averages means my average would be zero ; )
Was hoping this week was going to be the week. :( .
We may have different views on valuation but considered debate is always useful.
I havt listened to the q na yet but always a bit concerned when timelines change.
Cheers

Barnard, yes will do. My stake is pretty reduced here tbh. Will take up allotment and maybe apply for extra and then see where we are after that. Possible that the sp may fall back to around the open share offer. Worth noting Galloway has also indicated that it does not intend to subscribe for its entitlement under the Open Offer, so there should be extra available.
May see where the sp lies after the open share offer.
I note the ammount to be raised has gone up from £4.2 m to 5 m. Giving126.438255 m shares plus mellons 6.6666666 and 16.666666 warrants giving a total of. 49.77145 total to add to the present near 200 m fully diluted giving nearly 250 m shares. I also note that in the previous rns it states that equity markets are difficult and in the recent rns it states that the raise isnot underwrittenwhich makes me a think that our inclusion for the first time may be less benevolent and more a necessity. However if a sale forthcoming it should give anyone buying at 15 p a decent return but for anyone with an average of 50 p or above I fear disapointment .
good luck Barnard

Tim at flagstaff, any news from z mamulashvili???
Best

Sam, nothing you have posted here has been of any value whatsoever. Its all books fault ? What a moron you are! Not blaming all the peeps on here with their ridiculous valuations, and not only ignoring warning signs but attack dogging anybody who should bring up question marks. Stick to bingo.

E l, not exactly jiggery pockery but it basically means your raise is at an all time low and never a good thing. You obviously are not unlucky enough to have invested in any of Andrew Bells companies. Frequent event there often followed by consolidation because of the mass of shares.

Everyone, buriticca proved 11 m oz , how long do you think it takes to prove up 11 m oz and how much $$$. Certainly not $20 m . If our asset had 11 m ozs and sold for$ 1 m our cut iwould be $250 but thats many , many years down the road. By which time confetti, options and warrants will have diluted holdings. Phase two kicked further down the road. Always keep an eye on lengthening timelines .
Best to be realistic imv

Clarence, good luck. You think this drop is because of de rampers ????

C f, I am not of the same opinion. why would you put that in rns. It could be procedural, like titles needing registering as mentioned or something else but I do not believe that it means simply finance .

Haddock, agree, this is the nature of explorers. They are not drilling up a resource but testing the water . Accordingly you are going to see exagerated swings in either direction depending on results. Didnt sell any yesterday as was expecting higer, but again if you did, look at the discount today. There is no resource yet so value is what the market gives it so opportunities to trade if you are quick. If results were good we would probably be looking high teens today then pullback. Always galling seeing big drops but better buying today than yesterday if you see value. Personally, I was buying at this price not so long ago so will wait and see if it goes lower. Good luck all

Accountant, agree spike ends one way , gradual move north more sustainable.

Awax, you completely miss the point.
The Company's La India Project is almost construction ready, with the key permits to construct and operate a mine, a bankable feasibility study completed, a SAG Mill and surface rights purchased
My point was that it states almost construction ready???? Peeps on here have been claiming clearing scrub constituted the start of construction which it clearly doesnt. What you mention is useful but not considered construction although it was used as a dodge wirh marena to dodge the fact that cnr were no where near complying with the original 2018 permit to begin construction within 18 months and gain extension.
Any idea why it states almost construction ready???

Guern.
· The Loan Notes have a 2.5 for 1 warrant attached e.g. 2.5 warrants will be issued for each share that the principal amount of the Loan Notes may be converted into, resulting in the issue of warrants over 16,666,666 New Ordinary Shares and upon full exercise of the warrants a subscription of £2.5 million
.mellons £1 m converts into 6.666 m shares plus 16,666,666 m warrants . I

· The warrants have an exercise price of £0.15 and an 18 month term

Also to note
Galloway has also indicated that it does not intend to subscribe for its entitlement under the Open Offer.
The raise aims for £3.2m x15 p which gives 21.333 add mellons 6.66666 and 16,666,666 warrants gives 44.666 and add to present fully diluted total . Of course the raise may not be fully subscribed which could change the numbers.

Nookie , yes , but suggest looking at shg grades in kenya, but shg have v soon 100 k oz currently around 50 k oz and dividend.
production and full ownership of their projects which are in two different Countries. I think shg would be a decent example of how omi isnt hugely undervalued for what it currently has. Sentiment is the only real measure of value here until defined resources are established. Sentiment can vary quite a lot and be fickle as we have seen which is why I like to bank profit when the chance allows. Still say colombia based explorers and producers are the best form of comparison.
Good luck and a good week so far.