Member Info for sportbilly1976

This is MMs balancing their books - suggest with the large 1mln+ buys seen last week, and traders pushing it they were running short.

A few traders sell on news and they drop it..others then move to protect gains and they drop further.

A signal is the buy quote and volume - given the stock been returned you'd think you could buy in size within the spread easily?

Yet 125k (£10k) is 7.849p on a 7.5-7.7 spread

Depends what Indigo do with the "20% discount" shares. imo at 3p they have c 24mln shares to convert into the $1mln available pre 30th April.

Assume that they forward sell all of these and then get shares issued to them for VWAP less 20% (so 2.4p - 30.8mln shares)...it is these 6mln they may well hold onto.

Arguably though there could be a bounce as there no longer is a large seller for any buyer to be absorbed by.

On the closing spread of 7.0-7.3, the buy price was 7.2 at the close

So we're now at $17/oz in the ground value on the CURRENT 1.5Moz resource

A reminder than Shard Capital used an in situ pricing of $75/oz in their recent note on Thor Exploration - so c.25p

Selling /flipping again?

Well on the current 4.10 - 4.40 spread, it is NT to the NMS (of 30k).

for 35k they want 4.6p!

Prob not - mainly due to the fact the MM's cut off the RSP at every opportunity.

NT currently at 4.1 (31,000 is 4.2p)

Pre MRE note out today - 16.4p valuation , noting "Landore trading at an anomalous valuation"

"...We also believe the project could be an acquisition target for one of the

smaller miners and note it is currently trading at US$10/oz compared to the average

for the smaller miners of US$269/oz."

"Following the rise in the gold price to record levels the gold equities have

comprehensively rerated during 2025 and are currently trading at an average NAVx of

1.15x, with the larger miners trading at 1.6x, the intermediates at 1x and the smaller

miners at 0.9x. Our base case NAV for BAM is US$355m which suggests Landore is

trading at only 0.05x NAV."

Hi,

When?

Since they were submitted for cleaning I don't recall there being an update on the ability of the process to upgrade the stones from industrial grade to gem quality...and certainly not to provide a number of stones upgraded

Http://www.idexonline.com/FullArticle?Id=50768

"..They have undergone an extensive cleaning process in Dubai to remove multiple layers of metallic silicates and mineral coatings. As a result, around 6,000 carats initially classified only as industrial diamonds have been upgraded to gem quality."

Https://x.com/Dobbo761/status/1967934931721724362

#LND

@landore_plc

#gold now $3,720. The 2023 PEA on 832k ozs had an NPV of $333m with gold at $1800

Each 10% rise in #gold = incr $110m in NPV

So NPV now would be c.$1,500mln - on just 832k ozs - resource now is 1.5Moz!

Mkt cap : $19mln!! Re-rate to come will be💥💥

Alternative Resource Capital, a division of shard Capital have released a research not eon Thor Explorations this morning with an in-situ price of $75/oz attributed

Using this value on the existing 1.5Moz Junior Lake resource and a 1.3fx would result in a read across target share price of c.25p!

https://x.com/Smudgedann/status/1965720643850449307

Cyril,

To bring up-to-date....also factor in that the 2023 PEA was carried out on 832,000 ounces. Landore currently has 1,500,000 ounces - so effectively double the resource, which will significantly impact operational activity and efficiency savings.

US non-farm payrolls miss again...raising pressure on the Fed to reduce rates...gold near $3,600 now (which is double the price used in the 2023 PEA)

It will be interesting to see what price SLR use in the MRE - a trailing 25% discount would be $2,700 which, together with >1.5Moz, increased grades and confidence on the Junior Lake resource (it would be substantial if they talk about the district scale resource rather than just the BAM strike zone), could easily see this being the catalyst for a rally to double-digit share price

Fair value v. peer (Cora Gold) would be c.15p, even without any jurisdiction premium being applied (Ontario vs. Mali)

100% this

...an opportunity I haven't been missing for the past few months.

Content of the forthcoming MRE will be interesting;

* Impact on overall resource

* impact from recent drilling on grade

* impact of recent drilling on category

Expansion of resource area from infill sampling

Could be a significant amendment to come on the existing !mln at indicated and 500k inferred

Https://x.com/landore_plc/status/1912867809069318254

There is also a narrow window of opportunity for them to buy...from now until the first assay results are received (will assume this crosses over the 30 day closed period pre financial results).

So if they don't buy now they won't be able to until at least end of June (ish)

Glenn tops up with a further 300k yesterday...Alex next?

At least the first 1,000m of drilling has been completed ...hopefully some encouraging signs seen in the cores extracted too!

Drilling first week of March, i.e. next week.