Member Info for Tornadotony

In the title.

Https://www.londonstockexchange.com/news-article/PO56/publication-of-final-terms/16780079

Mali tax. First of all Mali will not care about the mine losses and will look at annual mined ounces. On 60,000 ounces, the tax bill imposed this year is likely to be in the order of $14M with another $14M imposed on 2025/26 tax year if similar production is achieved. The company has to decide if it is worth the hassle to continue operations in Mali as it will make no money over the coming two years. It also remains marginal in the following 4 years. I suspect the management will seek a reverse takeover and try and get Mali Government to buy the asset for say $20M and let them keep a nationalised mine.

As for Kourousa, there is an issue of grade control in the mining process. What is unknown is whether previous artisanal mining or gold core veins are such that a high stripping dilution is impacting the grade being fed through the milling process. Grade control drilling can help, but is costly to do. There is no guarantee of continuing the Q4 run rate all the way through Q1 next year or beyond. What is also unknown was the modelling used to derive reserves from previos drilling data. Although acceptable for Jorc classification the recovery tolerance on mining reserves may well be less than 90% and pockets of dilution may continue to interrupt steady state production volumes.

Lower feed grade was the red flag yet again as previous production indication was based on higher amount of gold in the circuit that I warned G7 about. The RNS implies continuation of that issue.

Fresnillo, Centamin and Endeavour are tracking the same path on the charts. Barrick Gold and Van Eck ETF Gold miners both went up sharply and follow a divergent path higher. For Endeavour to have stayed on their path it would need to 1610p which was in play up to TX open or possibly higher than 1610 if corelating for more than one week.

Despite the RNS we have seen a pullback today and also in TX. Will do some digging to find out why. Gold up a $100 and Endeavour barely 3% above the recent low.

Heavy buying up to 19th November. A very good sign.

Edging up a little. When do we get the economic study report?

15.84p dividend this morning as we go ex-rights. Paid into accounts sometime in January. NG needs to hold 956p 100 day SMA support line.

Unfortunately I could not find a Richard in the last link either.

Https://bartongold.com.au/

I doubt if it is Richard Barton of Zillow.

GI

Well I certainly do not get off on what has happened here and that was an appalling statement to write. You could have just answered yes bar the 15% element on free carry as that is between the private company bidding and Guinea Government to agree which possibly has delayed things or possibly point out if funds like production tax on gold = royalties, is to be paid, then it will probably equal with VAT reimbursement being held by Guinea Government in the accounts in any case ( I found VAT bit when I read 2023 annual report later on). Instead I got the answer on just one of the points although I listed them all for completeness and not being some kind of smarty pants.

I have tried hard to see if your train is worth jumping on and in the end I see it as a 50/50 bet. My concern is that this company is still a dog share. It could be worth up to 4.5p if what you believe on one week of data can be incorporated into 13 weeks of output. In July, August and September 2023 Betts and crew had a low bar of 10,000 ounces to deliver and they got 6,068. Q1 5,868 ounces, Q2 7,789 ounces and in Q 3 they managed an amazing feat of 12,389 ounces. Q4 they start well with 2,700 ounces and no info if it was high graded part of what came out of the production circuit. In the end GI you could be right and what you are doing could win. Equally, the project could be a disappointment and hence why due diligence is still on-going. In the end do I think the takeover merchants will give something like 2.66p to PIs, yes they might or just maybe they don't and what can the PIs do afterwards. Tony

GI

Have you considered the requirements of the mining licence.

5% Royalty to Guinea.

1% to local Government

30% tax on profits.

15% undiluted ownership of the mine.

All aboard the Von Ryan express.

https://www.bing.com/videos/riverview/relatedvideo?q=von+ryan+express+clip&mid=3489F1F96F07CBFB78C33489F1F96F07CBFB78C3&FORM=VIRE

Stock rotation heading into 2025 in USA favours buying utilities with likely higher earnings. Emily with eye glasses analyst interview.

Eyes want to see the economic report that could be a serious catalyst, along with a date of when we will have SA plant running and get that 99% plus product.

Oops monumental support at 875p.

200 day SMA is at 875p and we have not seen a monthly close below it in 7 years. The RI triggered and intra month breach but was closed above the 200 day SMA within 30 days month chart. The 100 day SMA is at 956p on the daily chart and serves as a secondary support line as a very credible support line was tested and held at 960p recently. Getting through two major support lines requires a fair amount of selling unless pierced by dividend take off. The weekly stochastics are on 1.12 which is just above zero which is bullish. The stochastics on the daily hit 77 today and the RSI was around 72. We are seeing some buying activity on shorter term indicators that fits with an incoming deadline of Wednesday close for a dividend buy versus dividend dodge play which is currently favouring buyers. Although 1 to 4 hourly channels are in down trend patterns they are meeting up with strong areas of support. What we have is a descending triangle with a flat strong base that can break either way which is not that helpful. We rely on divi dodgers to buy back in on Thursday to hold support lines and see consolidation break the shorter term down channel charts. History of the chart tells us monumental support lies at 869p so you know where to throw in the kitchen sink and buy imop. Tony

Nothing in this announcement is or should be relied on as a promise or representation as to the future.

The above was also written in the RNS advising to take no action.

Usually these are short meetings, but I noticed they will do QA for those attending. Anybody going to it and will they raise the inevitable question on where things are on funding and how the company is sustaining anything. The AGM raises £318-319k for what are Director salaries and PA himself is up for re-election. Probably better that we have someone on the PI side that Directors would give a meaningful response that in part could be conveyed to the rest of us.