Member Info for Simms45

If the assay lab is basically up and running in Nic how many cores are we going to process? We have had one or two teams drilling for around 6 months so that is a lot of drilling we have done. With a lab in site we might get grades come in thick and fast. Could be a lot of Nic action over the next few months

I would point out Liq that Runruno grades are around 1.4g/t so not sure what your issue is that you think Mallibeg South is somehow less appealing grade wise? Sure it needs some work but given probably no opposition as its practically in our mine already compared to bust ups 20km away you start to wonder if something closer to home might work out and gold always goes down if its VMS so again Runruno could now rerun the numbers on deeper gold.

I obviously know Darren knows a lot more than me but it was compelling enough back in 2013 to get a Jorc report done and although i know could be hurdles to bring online its right in our back garden. No idea if it comes within our permitted area as its probably a satellite and might need permit but they could do more testing as today gold deposits not deemed economic are now worth relooking at. I suspect in light of gold price it will be economic to mine material at lower grades of gold in the current pit. $5300 changes a lot of dynamics and i am sure Runruno can run on $2500 AISC very nicely at these levels. Of course 1-2 years ago would not be possible but is today.

Just thought it was interesting that 150m away is apparently 300k ounzes of jorc compliant gold? In light of Dupax i thought it was worth public discourse as back in 2013 it was not economic but maybe it is now. Inflation since 2013 around 50% so call it $2000 AISC. Starts to look decent . Apologies if you found it not worthy and perhaps i should ask your permission in future. As you know im a keen buyer of Metals and days like today are great when the lemming brigade give others a chance to top up.

At the moment portfolio has been rising 5-6 figures a day and only day job is investing in startups that keeps me occupied :)

So digging more into Mallibeg South is incredibly interesting so why no mention from Metals since 2019? independent JORC-compliant resource update prepared by Mining Associates Pty Ltd for FCF/Metals Exploration, dated March 2013.

Geometry: a series of stacked, shallow-dipping mineralised lenses over ~550 m strike, with 2–20 m combined intercept thicknesses; it’s described as being open to the south with potential to add resources.

Contained Au: ~340,000 oz (0.34 Moz)

If Malilibeg South were mined similar to Run runo

Recoverable ounces after mining recovery:

289,000 oz × 0.91 ≈ 263,000 oz

Correct me if i am wrong but that is 4-5 years of production? Something must be wrong with the report as this is JORC compliant? Did we sell it or does someone else have it?

Thats great information MrSmith. Really surprised this has not been discussed more recently by Metals, do they have some form of amnesia? i understand Dupax had a bigger likely overall resource for the long term but Mallibeg South is ready to roll and 150m away? Also decent grades? Are we missing something but surely Darren is gonna pull this rabbit out of the bag on monday as that gives us plenty of resource for another year+ Who knows but i hope they are drilling around that resource and he drops something as seems almost too good to be true, just perhaps he had bigger fish to fry.

Exactly between 1.5 and 1.7 almost no resistance. To be honest market has risen 40% and Kefi has flatlined so we are only catching up with market rise. When we start moving we will know about it. Key is hold as this will take off properly. Find me another 160k ounze gold mine for £160m?? Like seriously i cant even find one for £1.6m with these AISC. Saudi is a whole extra ball game and that will take us to top tier miner in 3 years.

Most goldies up 5-10% today so Metals will need to play catchup. Very confident in Darren to make good use of Runruno and i dont doubt he will now extend its operation somewhat and tie in with possibly Dupax or something else. He was winding uo Runruno to tie in with Dupax but with Dupax delayed etc he will probably work over some areas and probably relook at Mallibeg South etc. we have lots of cashflow so we have lots of ways it can be deployed if need be. I sti think Dupax will work out as their original sampling and trenching was strong and a shame they dont specify how much drilling they have done as not aware it was much.

I know but trying to be conservative. I dont doubt we can hit 160k or more as we wi use all super high grade and Darren already stockpiling ore. Hopefully smash target but 145k ounzes is still a mega sum of cash far in excess of todays market cap.

$2b i agree is way it. It will be a lot more :) Numbers of La India alone at current gold is $592m. Pre-tax FCF ≈ 145,000 × $4,084 = $592m. No debt so largely all profit as we have massive tax credit in Nic. That puts is on a PE of 1. I guess people will wake up to that one day :) PE of 5-6 is fairer value.

Serious buyer taking a decent punt today. Quite a lot more in the background picking up decent amounts.

Tals and Kefi are probably the most undervalued stocks exposed to gold with limited risk compared to many. Metals debt free and in 2027 moving into bonkers revenue generation, in excess of current market cap, and Kefi is massive but looking at 2028 but leveraged upside. Metals is closer to buy backs and if that happens Metals can go a lot higher. I am increasing my holding in both when i can and buy on dips. Any others Metal holders think will outperform?

So far today looks like normal pi sells and no placing dumps so time to build a position as reasonably clear run to 1.7 if news by second week of Feb should be over 2p that will be landing point i suspect. We should then add on average .5 a month for following 18 months to first pour. Exciting times!

Yes. I was only seeing buy at 16.3. As expected once the lemming patrol jumped price will end higher than it started today. Onwards and upwards and hopefully some new investors onboard for next leg up as countdown to La India commences and monday Darren interview that always boosts share price!

You could not buy at 16.18 this morning as i was trying! Anyway the £320k was clearly a sell as otherwise we would be 20p if that was a purchase and was delayed as it took time to find buyers. That is all filled now.

A key lesson for investors is to constantly re-evaluate the company they are invested in to not make the mistake of selling too soon.. If Kefi delivers on its TK mine then there is no question that at a gold price in excess of $4500 we are worth at least $2bn+, no questions and that is low and excluding Saudi. its simply a fact based on numbers and comparables. However investors often get excited about 2-3x rises and then sell but forget the underlying business has changed with that price. Too many times i see investors (myself historically included) exit on a small multiple to then look back and wonder why they sold. All investors need to do is keep a level head and check future prospects and reality at each stage and compare to competitors. This is how some people make 50x on their original investment. How many bought RR at 80p and sold at £1.20 (spoiler i did :(). i am sure a lot did but they missed the 30x opportunity because they did not re-evaluate the business prospects at each point. Let the good ones roll is definitely my mantra and i wish i had always followed that rule but with age i am learning but this is the only rules i follow because i have learnt the hard way selling out of stocks on a 1-2x when i could have got 10-20x for a little re-evaluation and patience. Kefi is one stock i do not plan to make that mistake on as it is the most glaring 10x opportunity anywhere i can see and probably much more if gold prices stay above $4500 that i am basing my valuation on. gla

Oh dear, i feel sorry for the person who sold almost £320k of stock at around 16.2 this morning but does now explain the blip this morning. That must hurt when the price started to rise quickly shortly afterwards and maybe by next week back to 19p as gold is not giving up any of its momentum. if anything ti is getting stronger. US is clearly planning something as UK and Israel all moved into position. Could be $6500 or $7000 gold shortly if that happens.

If Nic has a 10m gold district there might be an idea to move RunRuno mine kit to nic and have 2 mines up and running maximising our gold production where we know we have plenty of it? Darren might also take a look at that Malliberg South resource that was known in 2019 but probably due to cost was not seen as economic but surely in todays climate almost anything is and if Dupax is going to take a little longer i am sure he is relooking at that given it was 150m from the Runruno plant. I also wonder if gold in Runruno at $5300 gold is not economic to keep on going down now. Seems to me gold at $5300 does change the game about a lot of resources that once considered uneconomic.

I wonder how much of the 2500m of drilling has actually been done as that has not been shared and i do not think we have done much in last 3 months due to issues so probably not giving a full picture. in the original RNS on Dupax "With high-grade production recorded previously from the historical Keon open pit and anomalous results over 10km of strike, there is high potential to discover an economic resource." so the question is really what drilling has taken place and how much more will be done as he mentions 10km strike and that would normally be quite substantial drilling and not just 2500m. If it is deeper what other holes have been done. It possible Dupax has been played down a little as this update was written probably sometime ago and monday might offer some further information. I hope since getting access back to land we are drilling heavily and turning assay results around so who knows what might come in the next month that changes everything.