Member Info for Simms45

Great to see. Kefi must have got the nod everything is on track mid April and they will need a few months head start to find the staff as Kefi will need 100s. This is perfectly expected from Kefi and still looks like a May for 2nd bank and end of June for equity sign off. However they are seriously testing the most patient of investors and the pump before the placing caught me out badly as i bought more just before the placing. Somehow those pumps before the placing are almost criminal given he knows plenty of investors would be drawn in and he already knew the placing price. Anyway i hope and would expect a share price north of 2p shortly after we get the money in the bank and get TK and Saudi on the mive. When you hear Anglo American being bought largely for Copper we know Kefi is in the right place with possibly one of the biggest high concentration find globally. Saudi alone is likely in the medium yerm when up and running to be worth well over a billion$. Gla

Some great thoughts on Equinox as i had not really considered but Ross still owns a stake i believe and given his deep knowledge of Nic it would make some sense at this time given the avalanche of cash miners are making currently but most suffering from a considerable value mismatch. I think what is happening is Calibre and other producers are racing to get on the radar of a takelover when they reach 500k ounzes. Calibre could do it in 12-18 months on back of Masthsn buy and Condor and if they do that they could quadruple their shareprice and be a target for next wave of takelovers. Shame Condor did not prove up more of its 5-10m ouze district but i think it counts for a fair bit of why the takeover has taken time. Still hoping for a JV or go into production update but suspect we are now too far down the sale to pull out. I expect Condor to push on this week as we are crazily undervalued and barely more than book value. gla

Great to see us push back to 32p again as its long overdue and i think really holding up any all share offer as we need to be at a higher value to get past Jim. Maybe 40p is in sight once we have jettisoned some who cant wait a few weeks. if we dont get an RNS next week.

This neighbour chap of MC seems to have a close eye on Condor and hopefully spotted some . We are now a few months over the normal due date of the results so i tend to agree we have been in legals for sometime. Lets hope next week or so this is finalised and deal can be released. Will it be 50% or 100% upside is really the question. Will it be all cash or all stock or a JV. Hopefully we will know soon.

Yes. Great to see close above 30p. Closer we get to likely news the higher we will go. It cant go for less than 45p and 60p could be upper limit so maybe 50-100% upside on news. Could be more. Just need to wait to find out who is the buyer.

Gold is at a near all time high and many expect $2.5-$3k later this year as central banks stem their unsustainable debt mountains and debasing currencies. TK NPV at $2.3k is a lot more than our original plans so TK will be drowning in cash once operating. Mines in Saudi are skyrocketing in value. We stand at a near all time low valuation. If we get this sorted by June we stand on a new wave that will last 12 months so the ascendancy will likely take us beyond 10p in the end and as long as things progress. I suspect day of news will be a lot of new investors looking at the bigger picture over 12 month horizon or more as Saudi takes shape.

I think its reasonable to assume that from the start of the process the two main parties who visited the mine and still in the race are Calibre and China. maybe a few extras joined the race but seems logical given everything we know. What we have could not have expected is the process taking 15 months which is really Jim being demanding about price when the market for gold asset sales have been less then optimal. I only wish 9 months ago as markets improved we sorted a JV/financing as Jim would look a genius as we move into a gold price potentially heading to $2.5-$3k by end of year on central bank buying who probably already know the dollar is toast in its unsustainable debt. Just now a wait for sale to land and whether its closer to $100m or $200m. Frankly chip money now for gold miners so Condor is moving to a point it wil just be absorbed with little fanfare shortly,

I really do not understand the Verde deal. Perhaps there is more to it as some think it is connected to Phoenix but i simply do not know. Why did DP do this deal without him ensuring Verde were good for money. Hopefully a miracle will happen and Logik complete on the land deal and we get out £1.7m and kick Verde into the rough and raise later when shareprice is 10x today. We do not need another bucketshop scalper to offload their shares and keep the shareprice down. Verde are hardly strategic of top draw investor as their web presence is almost zero. However i am looking forward to results as they will not be able to hide deals and update on commissioning at Nothfork etc. As long as an investor is not offloading into any news we might start to stagger upwards.

I suspect Ryan got slapped on the wrists for his comments in previous webinar about Nic ambitions. Notice latest video mentions 0 about Nic. That is telling given previous webinar he rather went a bit too far on their plans. Hold tight!

Good to see more traction today and pretty much back to 30p. All looking very promising coming weeks. Gla

Problem is the market cap bares no resemblance to company value. The Italian bank provided 2.5m refinance and they are looking at 10 year payback so Italy must be ticking over nicely. We just need to hold for updated news and hope DP is playing on the side of investors and not his personal strategy. We should be £50m for starters and not £4m. The share price today could well be looked back on as bonkers as i doubt anyone would even think a £50m market cap not being acceptable. Only reason we stand at these levels are a multitude of failures by board constantly selling shares to 3rd parties who, in last case, dumped almost all shares in 2 weeks. We have literally faced a fire sale but i think there are no new investors around. I suspect most are nursing huge losses and sitting on them. When i look at my watchlist thank goodness i did not invest and most are 50% down and plenty have gone down 90%. Eqtec is one of those but they actually have simething that should turn around the company. Just please DP do not next announce a massive share plan for the board at these levels unless you plan to put your own cash in. I am sick of boards destroying market value and then just at the bottom before the rerate they take a big bonus scheme. In 6 months i see Eqtec a long way north of today but only if DP stops the rot in dealing with low rent 3rd parties.

Great to see market getting behind Condor as we tick up slowly. You would think some sale needs to drop this month. Looking forward to seeing what Condor will sell for.

BenBen there is plenty of upside to Condor. Firstly Condor have cleared the site so we have technically started to build the mine and that is key. Secondly we physically own all the land at La India and spent £50m over the last 10 years so really no one else can do anything on the land "ever" without our buying our land. Finally we own all the IP and data that underpins the whole mine build that would take someone else 5 years to redo. i would be delighted if Condor just get on and build the mine today but we are in a 2 horse race waiting for the sale to land, which could be any time really. Fill your boots while the price is low imho. gla

For me it is all in the way he expressed that in the webinar and when he talked about buying resource and then stopped, almost thinking he had said too much. Yes you could read otherwise but thats fine. He also suggested and reason for Marathon deal is they are not happy with 2x cashflow. He thinks exposure go canada will change that. Nic is a cashflow monster we know that but its also fairly obvious that running mill at less than half capacity for last 5 years is not what investors want to see. Calibre want to hot 500k a year asap so if you consider they are hoping to double their shareprice to $2.4bn or so if they can do a fast fix in Nic with mininal expense they will. Yes ortega might prefer chinese and chinese will want the mine but Calibre will also be keen for many reasons. We know its 2 horse race and time of delay is probably down to price etc. It could be either way but do we care as long as a deal is announced asap or they crack on with a JV with Calibre and keep status quo.

If we were not in latter stages of a sale we would have probably had an annual report last month but as sale is close i guess they will not release until concluded or they need to do by LSE requirments. Its probably 6 months still some time. Almost no news since December and complete blackout on any comms from board. Obviously something is about to drop but when is the question. Maybe next week?

Quelle surprise. Extended to 16th May. I am dissappointed Eqtec did not cut them off and move on. We have revenue and £2m of a lending facility so plenty to cover next 12 months. As soon as they cut Verde out shares will rise as it just loads more pressure on poor management execution and just hangs over company when in all fairness we do mot need it, especially if Logik sell land.

I would add that in the last webinar Ryan did not answer what they wanted $115m given they already have close to $200m in cash after gold forward sale and currently printing vast quantities of cash at almost $2400 gold. Ryan equally said, and cut short as i think he might have let on more than he should, about acquring resource as their aim is to boost Calibre shareprice by sorting its Nic project that has suffered from one of its operations to be barely operating and investors have a 2x cashflow valuation on Calibre compared go 6x for Canadian operators. They have now bought the Marathan mine to try and change the shareprice dynamic but until Calibre fully fix the Nic issue of under utilisation and low reserves they continue to be under rated by a large factor. They could keep on as they are investing $25m a year in exploration and in maybe 3-5 years reach 5m ounces that Ryan also spoke about as a key target l, presumably to sell to a major, or cut short 3 years and buy Condor, truck ore in 3 months and crack on. Add 1m reserves and 2m inferred and get one of the largest, ic not the largest, license over a huge amount of gold. We will need to wait but it seems crazy for Calibre to have so much cash on its books and nothing to do with it. I am sure China are also pushing hard and perhaps why we are still waiting but if Jim with a firm handshake says “very very soon” he meant it. i am just hoping his version of very very soon is similar to mine :)

And you can almost set your clock by the shareprice. Harry does his placing and now we wait months and months while the overhang of placing shares gets churned. Given how high risk Kefi is its amazing just how stable the share price is after every placing. Gla

Sounds a similar time to me. In fairness Harry has worn the most rose tinted sunglasses ever talking up definitive agreement signoff now for 2-3 years. Really he has stretched the imagination of reality but we are still here and while down on my investment i do think the upside when it comes will be huge. However if we get second bank signoff by end of May and definitive agreements signed end of June it will be a miracle given his historic bullishness to get things done he does not control. Sadly Saudi is valued at 0 while the ethiopian ****show continues. I will be happy the day Harry says he spins off Ethiopia project into separate company and list or sell to major and exit Ethiopia. Time to focus all efforts on Saudi that is a much better place to operate (well i hope so anyway!)

Personally be happy if they do not invest as we should not need their cash and can reduce the effect of dilution that i think can be done in the future at a much higher rate. However if they do subscribe at 5p then that is 150% more than todays share price so it should also have a positive impact. The earnings report i think will be pretty robust compared to the last one in that we have generated up to around 1m in revenue for contracts we know about and there is plenty of upside from North Fork, Croatia, Greece, France, Wilsey, logik £1.7m if they sell land and so many other things. We have the revenue this quarter to more than cover a 6 month period and we already converted almost all debt into equity so just £600k of debt on the books. That is incredibly low to be almost debt free as a company. I has however cost shareholders dearly but the current share price would appear to be absolute steal. I really really hope the board do not now do a share bonus scheme at these levels as that would be unnacceptable given DP through bad acumen or design as cosied up to investors in placings or introduce buyers of shares who then dumpt the shares. Catalyse was unbelievable. Suerly they could have found a buyer of the shares who would have held them for longer than a few weeks? They will need to answer to these questions as it does appear DP may have purposely forced the share price down, for what reason i do not know but he must hvae known Catalyse dumping shares would have potentially derailed Verde who might now reconsider investing when they could buy in the open market at far less. they could probably acquire a good amount well below 5p and then top up through a subscription. however from my perspective they are not strategic at all. They appear to be another short-term trader. We have until the 19th to see if Verde will invest. Frankly if things go even to the low end of expectations we should be 10p very shortly once some traders have exited. lths still probably own 25% and are probably at least 50% under water on average even at 10p so i hope that the share price can get moving again just as long as DP stops destroying the shareprice with his "strategic" shareholders (not!)