Member Info for Texlax30

It’s talking to itself..

They can jog on with that ‘single asset’ argument, as Lundin has one asset in Ecuador and a market cap of A$26b.

Cheers Element, I know it was a typo but I had to emphasise the ‘trillion’.

If the $A4.2t of Aussie supers got together and said, hey, let’s use a minuscule 0.25% of our capital to buy some GGP, it would be a bit awkward, as that ‘miniscule’ 0.25% (A$11b) is way more than our entire market cap.

To hell with GDX, imagine when the supers start getting involved per their required mandate.

Aussie supers manage over 4 trillion, not billion. Slight difference ;)

‘Also Dude, chinaman is not the preferred nomenclature…’

The entire world watched the paper carnage in metals last week, they are now watching the reversal and thinking ‘f me’ it’s finding a floor at 5k and confirming the move.

Never been more bullish…

You gotta buy them back to get it right, marmaris. We’ll be sat at £9 by March.

We’ve had a huge cash build that will only get stronger, thus an even better metric to see how undervalued we are is EV / EBITDA ratio. Assuming EBITDA of 1.5b and projected cash balance of 1.6b end of year, our ratio is 5. Tons of room to go.

I’m trying my best to be conservative but this team just keeps knocking it out of the park. We might have A$2b cash in the bank at the end of summer.

I was a bit surprised by some of the questions - they still don’t really seem to understand what we have here..

What are we anticipating for AISC in tomorrows results?

The conservative part of me wants to expect somewhere in the mid to upper range of guidance (say $2,700). This is estimating a per ounce sale price of $6100, and a theoretical grossed up cash flow figure of $290m to account for the stamp tax as well as the fact that we didn’t sell 14k of the 86k ounces produced.

Also if interested, have a look at Evolution (A$29b market cap) recent results. This is exactly the type of production and cost profile I see us having in the early Hav / Telfer operation as we ramp up.

Northern Star might have had a lot to do with it, pretty bad quarterly results due to a number of factors.

Put ounces and resource aside, Northern Star (A$40bmarket cap) might finish the full FY26 with less than double the free cash flow than GGP (A$9b market cap). We’re still on Telfer low grade, folks..

What’s the saying, know what you….? ;)

We’re one of the big boys now, you have to look at the entire ASX miners indices. Northern Star down 9%, Evolution down 6%. Nothing to see here.

Feel bad for those that sold at Stormgate, 30% plus gain since. From posts over the last few weeks, I get the feeling more and more LTH sold out of fear or hoping to buy back lower.

Element, appreciate your posts and research, please keep it coming.

At today’s gold price, PE probably around 7. That’s only on Telfer..

Ben Richards is doing what his boss Luke Laretive tells him to do. Luke has been flogging AZY for over a year to anyone who will listen with the production gap narrative, GGP need the ounces, etc. They practically guaranteed a takeover would happen in 2025 for at least $1 per share. Luke also stated last summer, after the Macquarie guidance debacle, that he wouldn’t touch GGP at A$5….whoops it’s now A$12.50.

I agree with Element, they are willfully ignoring the last 9 months progress at GGP in order to exit their position. Still on the ‘stockpile’ story…hmmm.

Just look at the AZY share price recently - not how you want your gold asset to perform in the midst of a historic bull market.

Use today prices and guidance (estimate 320k ounces), A$2,200 AISC. On a net mining fcf metric, we’re probably around 5.5 to 6 PE.

Imagine our free cash flow this quarter, could be over $A350m at this rate! That’s a spicy meatball!

Crazy that those who sold during Stormgate lost out on circa 20%+ rise. That’s a big chunk. Party is just getting started.

The US won’t revalue its gold, it would be a gift to China Russia etc, would be hugely inflationary and destroy any dollar confidence. The market however will continue driving gold higher, which is the outcome we want.