Member Info for Sproutsdave

My figures using £100oz wasn't that far off. Here are my figures for Newcrest mining.
Newcrest mining. Market cap 13,976 million Euros. Or £12796 million Pounds.
Resources 110 million oz gold.
£12796 million pounds divided by 110 million oz. = £116.33 per oz in the ground.
Or
Reserves 52 million oz gold.
£12796 million pounds divided by 52 million oz = £246.08 per oz in the ground.
So with a chance that maybe Havieron gets to 40 million oz and GGP owns 25% we would own 10 million oz.
10 million oz multiply by £116.33 = £1163 million pounds which is slightly below todays Market cap and works out at 30p per share.
That's for a full business with all the equipment and track record plus up and running.
Also I should use a lower figure per oz because of all the copper and silver at Newcrest.
I wont be buying any at these prices but I might buy Newcrest instead.
If I buy a share it has to be so obvious that I will make on it with plenty margin of safety.
By the way I was in Greatland well before it hit 0.1p at 2p and 4p and remember this board when you got one post every few weeks. Gervaise wasn't there and there was no Havieron. I got it because there were vast areas and I liked Callum as a down to earth practical type of person that I trust.
Saddest thing is that when I was a working in the factory telling people to buy GGP because of Had 1 drill result at Havieron with GGP at 1p to 2p I was laughed at then and called a gambler. But I was right and the laughing on here reminds me of that time. I am not a banking person just a tradesman doing my best. I have do my best to invest wisely through a tax free ISA and buy potatoes for the local foodbank instead of paying tax. I don't have to work so I must be doing something right.
As Warren Buffet says this isn't a business were you take polls its a business were you think. There was no one holding my hand when that first super drill result came in.

I thought Gunsynd sounded ok. It was at £1 million Market cap at around 1p. Isn't it called The South Telfer Project? Make a bit of money just on Speculation. Buying cheap when unpopular isn't a bad plan! If it gets to 1p again. I will probably get a few hundred pounds worth.

I had Gunsynd GUN for a while but sold a while ago before the rise. Hoped to buy back in but forgot. I also had Topps Tiles. I chose them because I like the cheapness of Gun and Topps Tiles because I like the company. I am also Top Gun but with Tractors. This also influenced my choice.

3074 shares to buy an 1oz. Or £922 worth of shares at 30p each to buy 1oz of the initial mineral recource estimate.

Looks right to me.

10 Moz @ £100 oz buried gold price = £1 billion x 30% = £300 million mkt cap about 10p per share.
20 Moz @ £100 oz buried gold price = £2 billion x 30% = £600 million mkt cap about 20p per share.
Using 10% of spot price would be £140 oz buried gold price so figures could be 14p and 28p per share. That would be when we have a Jorc recourse and ready to be bought but just for Havieron, and we are not at the end of drilling yet.
I feel the price could go either way so will leave it for now.

Hi Bamps21
I am going to have another go later. I normally use a buried gold price which was always £30 to £100 per oz. But I think the figures are a bit out. I learnt that method 10 plus years ago. So I could do with finding new current info of current buried gold prices. I might get around to doing both methods of calculation. The new method I used today is new to me but with the extra info I have got today I could put something interesting together. Errors being highlighted is good I don't mind because I want to do the best calculation that I can do.

Thanks Indy. I am glad I have been picked up on the error. Its better than making a mistake. :)

I have been self sufficient in Sprouts for 5 years or was it 3 years. But what I do know is that 5 is a bigger number than 3 and I can work that out without a calculator. :) laughing.

Sorry. I see I have made an error there. I will multiply it by 10. I did do the calculations my head. Thanks guys.

If it ends up at 30 Moz which would need a lot of drilling and some luck. In the end we would have 7.5Moz for the 25% assuming we used the money from the 5% to fund mine development.
If say from the 7.5Moz we got £1500 oz and it only cost £100 per oz to get it out of the ground. It leaves a £1400 profit.
7.5Moz x £1400 is £1050m, very similar to todays Market Cap.
£100 cost per oz would be very low. £1500 is more than todays price. 30Moz is very optimistic.
I have used very optimistic figures. Cadia produces gold at a very low cost per oz. But there is still all the transport of a lot of material.
It just seems overvalued maybe not if the other deposits come up trumps but they are not proven yet. Who would pay the same price for a load of buried gold dust as they can buy it for from a bullion dealer.
There are plenty of twists and turns before the gold is smelted and the money can be returned to the shareholder.
I wont be buying any until the figures add up.

The shelves had been stripped bare of loo rolls. All that was left was a lonely £50 worth of Conroy Gold shares!
But where there's muck there's money!

My Calculation would go like this:-
4.2 MOZ x £100oz (buried gold price) = £420 million. We will have 30% of this so £126 million.
Current market cap is £1133 million at 29p per share. £126 million is 11.12% of £1133 million.
11.12% of 29p is 3.23p per share.
Then perhaps double it to cover drilling in progress 2 x 3.23p so now 6.46p per share. (It is just the initial maiden recourse estimate)
Plus add another 3.23p for potential of other sites so 9.69p per share.
So from those figures I get just under 10p per share. I used to use £30 to £50 per OZ at the buried price but used a £100 at the top end to give the best chance of a good price. I am probably a bit out of date. But who knows good results from another site or something unexpected could move the price. I wouldn't like to predict where we are in a couple of months, but hoping for a much cheaper price to get in at and then watch all of the jigsaw pieces fitting together.

There is a video on U tube about it on Proactive. Its called "Critical Metals has 'good short term vision and longer term plan' says Alastair Ford".

I got this a couple of weeks ago because of the low market cap. Looking good so far.

I thought the results sounded good. I admit I don't understand everything that is written in the results of companies. Sometimes there will be one part that could be not as positive as it could have been reading between the lines. Usually I only find that by reading news articles about the company on the day of the results. I think that is used as an excuse to justify the downward price of the shares down sometimes. Perhaps people are just bored once the news is out and they sell. I didn't buy a large amount and a little profit suits me hopefully in a few weeks.