Member Info for silverknight

On cusp of profitability but not quantified yet. EV is presently only £4mill. I keep topping up because I believe the company is turning the corner.

Also another positive update from Cerrado

Can't find that NAV update zan. They're superconservative on that front.

I hope so. I'll have some more at that price. Strange they didn't give an NAV update at yesterdays rns. Compared to a lot of small miners on AIM this is a gem. Exposure to gold, copper, zinc and lead all in one (cash rich) company.

clueless people never seen before appear on this board today. Longer standing investors (rather than speculators) might be content to see the sp retreat to c8p to be able to buy more. Todays announcement just reinforces the deeply embedded value case.

might be the year for crystallising asset values. Obviously the jewel in the crown is LS providing a regular income but Cerrado should float soon and be revalued on the balance sheet. NAV is clearly above 20p. I expect sp to move to 15p on updates.

Listing cost for AIM around £200k per annum. Makes sense.

kicker is Cerrado due to float soon. This should have a further material impact on the NAV. Clearly the current m/c is severely understating the true value of the company. Should be news any day.

Interesting aspect and one I had forgotten about. They've certainly moved to stem losses and have big ambitions but Covid situation will hold things back. I've learned to be (very) patient here and think I will do a bit more averaging don.

There are quite a few AIM companies selling at a big discount to NAV. In practise no opportunist bidder could just snap up this company for 3.5p per share. They would only need to buy a small % (if they could ) and the price would rise sharply. I'm heavily focussed on companies like this and wait for the value to materialise. One for patient holders

I find it difficult to understand why they invested in Cap in the first place-but it can afford to be written off. The LS investment more than covers current m/c barring a collapse in zinc price. Good to hear uplift in Cerrado valuation by a factor of 4(?). This should be clarified by next years float. We are effectively a micro cap mining investment trust. If we had 350million shares issued at .8p (same m/c) I suspect all the AIM gamblers would be over this like a rash. Now have plenty of cash as well which will increase next year with Ascendent payments. I will keep adding at around these levels.

the AGM is tomorrow. Questions about Nav update to end of September?

looking at this on a 2 year basis. By the end of 2022 (assuming no serious setbacks in precious and base metal values) we should see a realistic NAV of around 30p per share. Individually (as I read it) Ascendant is due to pay $6mill in total for 80% of LS plus we hold 2.91% of Ascendant. We hold 1.5% of Cerrado Gold at the moment-Cerrado worth c$45mill. Also 3.5% of Golden Sun (rising to 6% on conversion of loan note paying 20%). They say that the Tactical Portfolio only forms 15% of the total suggesting an investment of around £800k in 9 companies. That's how I read it but I'm happy to be corrected by any fellow shareholders who see it differently. Either way this is a great opportunity to hold a spread of mining interests in mainly USD and CAD denominations.

I was being conservative in my reference to the Redcorp valuation. If we receive $6mill in total and retain a 20% stake that is a fantastic result. Where is the catalyst to drive the sp upwards? The board spurn the idea of dividends. Even so small investors are drawn to other micro cap miners of lesser quality. I'm happy to wait for this to deliver-which I believe it eventually will

to analyse rather opaque accounts. No breakdown of individual holdings in tactical portfolio. It seems that the Redcorp project could (potentially) be worth as much as the total m/c. Nice to have regular payments from Ascendant ($500,000 since year end). True NAV must be nearer 20p. THoughts anyone?

The vast majority of AIM shares don't (and are unlikely to) ever pay a divi. Doesn't stop people trading them. Even a token .2p would cause a rerate but the board aren't keen-they've got their salaries.

followed PG from time to time over the years. He has had a few howlers like Trap Oil (resurrected as JOG) and Leeds Group . Just buys stakes- doesn't make bids.

Agreed. I tried to buy more this morning but nothing available

Don't agree. Kenya an opportunity not to be missed and divi promised for April. If the sp stays depressed the payment could be lower to still represent a decent yield. Smart longer term investors getting in now.

is an old fashioned sort of business with substantial tangible assets. I am happy to keep adding at or below the price of recent director purchases. I can see this recovering strongly post covid.