Member Info for Seingred

C f, been warning the geo politicals have been getting worse. Sputnik news is now the main dliverer of news content to Nicaragua, cnn been banned.The free trade agreement is the next likely move from usa I would imagine. I guess no us suppliers of equipment will be doing business. Its not ideal for sale or finance .
Plus side is china is busy in aquisitions and would be an ideal purchaser in nicaragua.
Calibre m cap £270m with $95 m cash . Food for thought.

Simms, shg will have singida in production q1 next year bringing their production to over 100 k oz pa. They also have a high grade increasing exploration project in kenya that currently has a 1.6 m oz high grade resource and drilling ongoing.
https://www.lse.co.uk/rns/SHG/west-kenya-resource-announcement-felzymzsz8ejkxx.html
I could give you examples like gcm or calibre that are just as prospective but actually producing in excess of 200 k oz pa and cash in bank , debt free with m caps under $300 m currently. Now is not the best time to get a buyout imv.

Share trader, I agree the market is not great for goldies in general atm . Thats why I think that the value is pretty fair at present . If/when gold price rises I expect producers particularly to rise immediately. With significant news I expect to see rises and fallbacks but hopefully higher lows going through next year. Obvs as we have seen over the last few years there are things that nobody can forsee.
fennix oro is around $13 m last time I looked. Whats your take on that , seeing as it is close to buritica and throwing up great grades. Do you think that is as big a bargain as omi or bigger?
Gcm is colombias largest mine with a m cap of $300 m ?? I cannot see the logic that gives multiples of 50 p . 50 p is great for me , thats a 10 bagger. That is achievable in time imv with the right results but not relying on it.
When you mention about spending , how much drilling do you expect in phase 2 and what results do you expect from it? Personally the comitted funds are small and yes they will have to spend much more than their comittment to reach Buritica resource level. I do try quantifying my views by using relevant comparisons . Imv ggp isnt a relevant comparison , however when I posted that anyone who paid 35 p will be unlikely to see that price again in a hurry or possibly ever I took quite a bit of flak but I think it still stands.
All I try to put over is, buy as low as possible because its easy to lose money in the casino. I wish everyone good luck here and just try keeping feet on the ground. Much better to be pleasantly surprised than horribly let down.

Isa, I been in shg from 4 p about 4 years ago. Best to give it some research . It is not very comparable with cnr really but will be interesting to see the m cap if a sale completes.
Just watched pdp video. Interesting . My take from that and the crux interview is ,
As I have thought for months an interim cash raise is very likely before christmas. 60/40 debt equity split but some peeps here still dreaming of no equity portion. There will also be the question of 18 month construction period running costs .
My immediate thoughts on mellon are that mc was awarded 1.25 m options last time out and 1 m previously so one imagines that mellon will be looking for parity at least in the next giveaway. I think the options situation may well explain why mc has been buying less shares in placings. Doesnt need to with options that have 5 years with no payment. Options are currently running at around 10% of the total of issued shares,around 16 m. Around 20 m outstanding warrants. If there is an offer it will be on a fully diluted basis, so basically there are almost 200 m shares now in an offer situation. We still have imv an interim placing and then the construction funding shares. I dont believe that now is a good time for a takeout from holders perspective. Shanta currently has a m cap of £130 m is a producing mine with another in construction and very good grade developing kenya exploration. I see little chance if a £1 plus bid here currently but I said sub 25 p shares were an easy nailed on 30% er. Thats why I was surprised that not many here seemed to be taking advantage. The answer on aim has to be to buy as low as possible. There is no point in basing your valuation on a need to make a profit because you bought in the 80s or fifties etc, when there was a third of the shares in existence.
Been researching colombian goldies for comparison purposes as I have a chunk in omi. Worth looking at continental sale of buritica and i am bullish on gcm and aris who are going to merge soon. They have 18 m oz between them and aiming for a 1 m oz production in a couple of years. Current m cap of both is under $300 m each. Gcm producing similar ammount to calibre , over 200 k oz and building another monster mine in guyana and a monthly dividend payment eq to5%p a.
Geo politicals in Nicaragua are worsening , I know most are not worried but I think it something to be aware of . Main news content is now provided by sputnik , further arrests of media and clergy, breaking of relations with Netherlands etc etc. I am looking for a complete de risk around 50 p but I suspect will have to wait till mine funding next year to see that imv.
5-0, obviously sub 25 p was the time to buy, why would you pay 32 p when you could buy for 24 p not very long ago? That was the obvious level to give you a great chance of doubling your money. 32-64 p is a much harder cal imv. Good luck all

Share trader, listening to anything is irrelevant, its what you pay and what your average is as far as I am concerned. Listening to 50 p posts is fine, if you pay 15,20 p or more on the basis of it it is maybe not so clever. It is suposition what price this share may reach. I think it is pretty fair to say that it is unlikely to reach 50 p by nov and that it is very unlikely that warrants will be converted.
I would focus more on options rather than warrants. Equivalent to Around 6% of existing shares and 5 years to convert and plenty more to come next year. Expect it to be 10% this time next year. Any takeover would be on a fully diluted basis.
I have posted many links to colombian goldies and find it surprising that nobody seems interested in researching .
My average is under 4 p and I am more interested in reducing that further and not interested in sinking more cash in but we are all have our own strategies. Aim is brutal . I do hold quite a lot of goldies though and think there have been some fairly unrealistic valuation predictions for the short term.
Fennix orro is very close to buriticca , throwing up great results and has a m cap around $13 m last time I looked. I think at present , at the point we are at I think the market probably values us reasonably in the current market. As we progress , hopefully the market should rise from here. Rises to around 20 p are fine for me for my strategy. If I am incorrect and the price flies much higher I will have cashed in some 4 p shares at 20 p and riding on free carry onwards. Thats how I like it. We will have to wait and see but it is a long time now since this share spent much time at 20 p or above. Good luck .

Bhargav, seeing as you want to do labelling, hows your crystal ball 50 p by November looking , loools. I sold some over 16 p on the spike and been re buying from 13 p down and waiting for a few more yet as I think we are heading sub 10 p. That is more sensible than listening to 50 p predictions and seeing 17 p turn into 10 p but each to their own.
Gonna be selling the next spike too. Good luck all but as public enemuy once said........

FenixOro's VP of Exploration, Stuart Moller, led the discovery team at Buritica for Continental Gold in 2007-2011. At the time of its latest public report, the Buritica Mine contains measured plus indicated resources of 5.32 million ounces of gold (16.02 Mt grading 10.32 g/t) plus a 6.02 million ounce inferred resource (21.87 Mt grading 8.56 g/t) for a total of 11.34 million ounces of gold resources Buritica began formal production in November 2020 and has expected annual average production of 250,000 ounces at an all-in sustaining cost of approximately US$600 per ounce. Resources, cost and production data are taken from Continental Gold's "NI 43-101 Buritica Mineral Resource 2019-01, Antioquia, Colombia" (18 March, 2019). Continental Gold was recently the subject of a takeover by Zijin Mining in an all-cash transaction valued at C$1.4 billion.

https://www.continentalgold.com/projects/buritica/
My 11 m oz figure was taken from ex continental ari sussman on the presentation for his latest colombian gold explorer collective mining. Impressive board that own 40% of the Equity. Their project is next to mamato. He says its the best he has ever seen.
https://www.collectivemining.com/_resources/presentations/corporate-presentation.pdf?v=0.861
Worth a looksie. Actually lists sale price at near $2 b can whereas all the releases stated 1.4. Perhaps converting usd into present day exc r canadian. Some good research there . Again it states 11 m oz . Also gives figures for marmato owned by aris.

Dr, the gold price was at a low of $1200 usd in aug 2018 the price rose from that point to $2000 in mid 2020. Buriticca was finalised q1 2020. In my book that counts as a good gold period and most producers sp will show a rise from sept 2018 until march 2020 and covid . That for me was the best period for gold in the last 10 years.
In respect to buritica figures. 3.6 m is the figure for reserves. You realise that there are a number of categories . Perhaps you should check the numbers for inferred etc. Burittica was also in the construction phase. How long do you think it would take for omi to have 3.6 m oz of reserves? And how long to production?.
Some other facts , I note that $600m was spent on the project .
https://www.mining-technology.com/news/gcm-aris-gold-merger/
This is the figures for the gcm aris merger , around 3.8 m reserves and 18 m resources .their combined m cap is less than $600 m and are aiming for annual production of 1 m oz. They also own their projects in full and have projects in canada and guyana.

N nellie, really best that you do your own research rather than bb posters. Breaktwister mentions Buritica take over. It had 11 m oz proved in various categories and sold for $1.4 b canadian , $1 billion usd more importantly. Continental gold spent around 10 years proving up and I would imagine this project being similar. Omi will effectively own 25%of the project. Buriticva was sold at a relatively high point for gold . There is no telling where gold is heading in the next 10 years but it could well be heading north next year and who knows how high. i hold , calibre a 250 oz producer and recently bought some gcm, colombias largest gold producer, both with a m cap around $300m.
I also hold equinox and first majestic who have seen 30% gains in the last 5 days, moving in tandem with gold price rise. This is probably a long term hold but there are likely to be trading opportunities high and low and many ups and downs . Good luck if you are aboard . I have what is for me a big holding here but cautious on some of the more optimistic posts but if you are sensible with your buys you should do ok but dyor of course.

Steve, good luck with 10 p , always hard to guess where sp is heading but I wouldnt write off your chances. I have a little bit left from 16 p sell and holding off for a bit now, started re buying when we dropped below 14 p and buying back gradually. Sp forcasting is guesswork in explorers but it is fun to try and maximize your potential profits.

Hi jack. I am no expert but think the gold price has its own life and will naturally waste badly run , uneconomic mines in bear markets like any other sector. No sign of inflation and interest rates stopping anytime soon so imagine gold price to be under pressure for at least this year and probably next 6 months. Thats my guess anyways
Still re buying , nearly fully loaded again. I would hope news taking this again to 14 p on news , maybe more depending on news and gold price.

E l, pardon me yes more ££ in bid scenario. Of course reflecting the exchange rate. Gold being down isnt the best scenario for sale or funding but I guess when finally interest rates top , the scenario for gold will change.
In relation to options, I am just curious how the scenario of 1.25 m at 28.5 would pan out if say a bid came as in 888 s vision shortly and options that cannot be exercised for a year and onl 50% then. In a bid scenario that is less than mc £1 starting point for reward 1.25 m options would somewhat cushion his pain. Mc states his belief that we are worth £1/1.50 but awards himself 1.25 m mm. Yes I know the bord have to ok it . I dont know the answer to this question but am curious?
The 2022 Options have an exercise price of 28.5 pence per share, equal to the closing price on AIM on 12 September 2022 and are exercisable for a period of 5 years from the Grant Date, with the restriction that no options can be exercised within 12 months of the Grant Date, only up to 50% of the said options can be exercised in the following 12 months and thereafter, 100% of the said options can be exercisable, provided that the grantee remains with the Company.



Following the grant of the 2022 Options outlined above, the total share options outstanding will represent 10.12% of the 158,629,530 ordinary shares in issue.

Simms, I dont see that a deal presently is a great idea. As you point out gold is near high in £ even though it is well off in $, the same would be the case if we were to receive a bid. The only bid I think that makes sense atm would be a merger with calibre , then a toll deal happens. Calibre paper would be a better deal than a $ bid imv.
Only just noticed mc 1.25 m recently awardedoptions at 28.5p(nice) . Should be a nice cushion if a £1 plus bid doesnt happen. What happens to these options in the event of a takeout? Is a bid on a fully diluted basis ? There is another 10% options/warrants I believe outstanding?
Equinox up 16% yesterday, fm 10%. Surprised we havnt seen any rise here so far.

B, talking of fluff, are we still on for 50 p by November , as I have been re buying some under 12p and very much look forward to 50 p . Thats £100m m cap not allowing for any warrants that I imagine would be taken up. Is this likely or , fluff?

Skippy, also under thatcher , inflation and interest rates high all through the eighties, gold peaked in about 1980 and didnt retouch the same price until 2005. So its all a gamble. For me , I have sold the last two spikes and re bought considerably lower each time. Still re buying little bits now from around 14 p sell. Best to try and beat the market than trust ceos imv. Still gambling on another spike of course and good news.

Calibre bought two working mines for $100 m , which many on here rubbished on here . They atpre now proven up large ammounts of high grade gold. Are you suggesting that on top of two mills they also paid for unproven gold . Punter it is unproven , otherwise it would have been rnsed. When I said we would need a bfs all those years ago to go to production that was rubbished. Companies dont spend 10 years drilling and proving up through various categories for no reason. Basically thats how the value is derived and more importantly cash raised . Do you think a ceo is going to go to his shareholders and say cnr has 2.4 m oz , but mc says they think we may have 14 m so we will have to pay for 1 4 m oz ?
Best to focus on the relevant facts, funding and seeing if an approach happens. Once funding is secured then we can look forward to the forward motion and e l's lalonde curve. We should see steady progression from this point hopefully.

Well, I have read a lot of articles on how gold companies are valued but I havnt seen unsubstantiated totally unproven resources used as a metric but would be happy to read that from a proffesional source rather than overhopeful bb posters. I guess then this revelation must make cnr potential share price now dwarf some of the previous £1,2,3, 4 , guestimates. For sure if they have some decent indicators it sweetens any deal but nobody is going to pay for unproven ounces Otherwise a gigantico 12 m disclosure would have sent the sp rocketing, but it hasnt , has it?

Imp, for sure.
Cant help wondering what the cost is for logging an rns twice for the same 40 k shares? And the declaration that no board member has converted.

Punter, it has taken 10 years to a high degree of probability what we have now. There is only one accepted method for showing a high degree of probability and it isnt just saying "we think we might have 12 m " suddenly . Wont make a difference to the price at sale sorry. If so omi think they have 30 m oz and m cap around £20 m . If this loose claim had any real bearing do you not think a 12 m oz declaration , yes 12 m would materially affect the sp. its fluff.
Cf , agree the idea that finance would be straight after bfs was always going to be proved wishful thinking as I stated a number of times. There must be an ulterior reason , just like the 6 month delay must have been due to majors wanting more info for a deal. There generally is a more obvious explainations unfortunately , some in their desperation to wave good bye to paper losses choose to imagine the best case scenario every time. Hence forcasts of production with 100 m shares and production in 2020 . The information is generally there its just that some choose to ignore it and over egg their pudding and never seem to learn. now lets see if we get away without a small stop gap raise.