Member Info for TigerByTheTail

Hi Tones!
I was about to write something similar.
It finally looks like the selling is done and this can move back up.
Long way to go...
Happy Christmas, everybody!

Hi All!
I'm looking at the Rambler Mines website. It doesn't seem to have been updated for years. Is this right? Is there a new company presentation around somewhere?
Thanks for any help.

Happy Christmas, everybody.
Here's hoping that in January or February we discover that the blow at Thorny River contains diamonds in the same quantity and quality as Marsfontein!

Hi Sotolo!
I agree that it's important to remember that the pound has risen. I figure sterling will spike on the formal announcement of the Brexit deal, and then sink back over the next few months as it becomes clear how deep in the doo-dah Blighty is.
Therefore, all other things being equal, IMO around now is the best time to be buying dollar-earning companies and other foreign currency assets.
Happy Christmas, everybody.

Happy Christmas, everybody.
Looking forward to 2021 in this share.

I don't mind this being put up twice, but it's dross.
The section on Solgold is weak, but the one on Hummingbird is even worse - it's littered with errors.
As all my school reports used to say: must try harder.

Hi Bonker99!
Yes, HUM own 51% of Dugbe and have a free carry to DFS.
Very good management at Pasofino, who are earning in their 49%. You'll see Pasofino's mcap values Dugbe at far more than its apparent value inside the Hummingbird mcap. That's just (another) one of those crazy things.

Hi RedKnight!
Thanks for the reply. I'll look at ATYM, which I wasn't aware of until now.
I don't normally invest in explorers - Solgold's an exception for me, simply because they really do have the geological "goods" with the high grade core at Alpala.
I allow myself one small total exploration gamble at any one time. Currently, that's Botswana Diamonds (BOD), who are exploring next to the once fantastically lucrative Marsfontein mine, and who have uncovered a new kimberlite pipe. January should be boom or bust with that one, depending on whether the new pipe is as diamondiferous as Marsfontein...

Hi Quady!
I've already said that you understand nothing about business. You're just proving I'm right.

Hi Patrm!
It seems we agree on a lot. I'm not invested in BMN but thinking hard about it.
Congratulations on your profit from GGP - I don't think it can go any higher from here. Surely not?

From the notes to the RNS...
The Company currently has two core gold projects, the Yanfolila Gold Mine in Mali, and the recently acquired Kouroussa Gold Project in Guinea. Further, the company has a controlling interest in the Dugbe Gold Project in Liberia that is being developed by Pasofino Gold Limited through an earn-in agreement. Construction of the Yanfolila mine, was on time and on budget in December 2017 having produced to date in excess of 270 kozs (as end of July 2020). Mineable Reserves, as at 31 October 2019 Yanfolila were 7.9Mt of Reserve ore @ 2.66 g/t for 676,000ozs gold. At 31 March 2019 Yanfolila had a total Resource base (inclusive of Reserves) of 28Mt of Ore @ 2.23 g/t for 2,005,300ozs gold. The Kouroussa Gold Project has a Mineral Resource base of 1.18Moz @ 3.08 g/t, which we are working on to be fast tracked to production, adding an additional c.100,000 oz of gold per annum to the Company's production profile. The Dugbe Gold Project has Resources currently totalling 4.2Moz of gold and a completed NI 43-101 compliant PEA on the project showing a 43% IRR and US$337m NPV at a US$1,500 gold price.

I think you need to add a third issue...
The AGM wasn't the end of something, but the beginning. BHP and Newcrest are now clearly opposed to Nick Mather. It may take them a few weeks to get their ducks lined up, but I expect major corporate action here soon (or at the latest, after the Ecuadorian elections).

Making guesstimates of reserves based on drill results is a fool's game.
But (since I'm a fool sometimes) I'll predict that there is a lot more than 35K ounces of reserves in Sanioumale East based on those drill intercepts...

And they're good. Clearly they are hitting more gold than expected at Sanioumale East.

Hi Iceberg!
FWIW, I agree. Wheaton is a good idea for silver exposure (which could well be a good thing in 2021). I'm not sure I trust Fresnillo or Hochschild to deliver the ounces that they promise.
For gold, I think Hummingbird (HUM) is way too cheap for what it is.
IMO, it's also worth taking a close look at platinum group metals miners. My choice would be either Tharisa (THS) or Sylvania Platinum (SLP). Both are well-run, low-cost, (highly) profitable, dividend paying companies, and by any metric you chose to apply, substantially undervalued. PGM prices are supported both by tightening emission standards for cars (they are used in catalytic converters), and by the key role they will play in the upcoming hydrogen revolution.
I wish I had a really well-run, undervalued, low-cost copper producer to recommend - but I don't!

Hi Drice!
I've been lucky enough to have had a really good investment year.
But, yes, sometimes I look enviously at GGP (or EUA), and I think if only I'd put my money in there...
But that way madness lies. And big losses, most likely, as well.

Hi Cheerful Door!
Big picture - I think the Dugbe farm-out has been a big success. Stalker is excellent. Dugbe is finally moving forward. The license terms are being fulfilled. And Hummingbird (who couldn't have made this project work) have a free carry until DFS.
Small picture - A bit shoddy that the directors carved this position out for themselves.

Hi Tones!
GGP's valuation is a complete mystery to me. My only rational explanation is mass hysteria. There is some value there, as there is some gold which Newcrest (who own 70% of the project) will at some point dig out of the ground and process at their nearby Telfer plant. But the mcap should be a fraction of what it is.
But, if you've got time to waste, the example non plus ultra of AIM overvaluing a mining stock has to be EUA. Only 2 million ounces of Russian C1 (= JORC inferred) platinum group metal resource in the far north of Russia, and yet a mcap of over £1bn. And it's not like AIM doesn't have some excellent options to invest in the PGM boom, such as THS, SLP and JLP - producing highly profitable companies with far bigger reserves and which are valued at a fraction of EUA's mcap!
It's enough to make a value investor go bonkers!

https://www.theguardian.com/business/2020/dec/22/boohoo-selling-clothes-made-by-pakistani-workers-who-earned-29p-an-hour

Hi Anon!
My sympathies. It sounds so easy - buy low, wait, then choose your moment and sell high. But, actually, this investing lark is really hard. I know I spend a lot of time fighting my own instincts. Still, whether by luck or skill, I've had a good year. So no complaints.
Hi RScorpio!
Welcome. No, I don't think there are any skeletons lurking in the Hummingbird closet. IMO, AIM is simply a bit crazy. Sometimes AIM investors overvalue complete dross (as long as there is a good story behind it), and sometimes they undervalue companies with good numbers. Like (IMO) here.