Member Info for Urbanracer

I am glad it’s not just me Dirkus. With most shares you pretty soon know if you are on a dog or a winner. LND is really not in that field; it’s a mix of positive and confusing rather than negative messages if that makes sense. I have been here for years and admit that I have become emotionally attached. Stupid I know but that is me being totally frank. I suppose I want to see this through now and that is the one certainty. One way or the other we WILL know at some stage.

At this point, I cannot add anything to the discussion that has not already been voiced by one or all of the (5 or 6 !) contributors on this board.

Strange times all round.

UR

Just a scrap of positive news and SP will go up just as quickly.

There must be a lot of PI’s wondering what to make of things Mads.

UR

Stebol,

For what it is worth can I just say Great Post.

The problem is that you can shout this from the rooftops but many are fixated with the Takeover subject. I have argued the opposing views on many an occasion.

I was beginning to think common sense had completely taken its leave. It seems to have done in every other facet of English life.

Regards

Zelos,

The MRE we are waiting for is a Maiden Resource Estimate. As such, it can be declared at a time defined by the Competent Person. It will never be a full Mineral Estimate.

We WILL, therefore, have the Maiden Resource Estimate in the second half of 2020 as confirmed by Newcrest. That has been brought forward already and at the speed we are drilling (unaffected by Covid) I do not expect this to change.

UR

I am really thinking about a portfolio spring clean and then effectively chucking the kitchen sink at this. Decisions; decisions!

That’s the way Paddy; always been my philosophy!

Hi Mads,

Yeah you are right. I read the 2020 plans contained in the document ( heck of a read eh!!) which are pretty much what they were threatening to do pre revised PEA and tech doc. I can only presume the next RNS will outline funding details to the tune of whatever is still required to reach the 6.5 cad. Not certain what is in the kitty but pretty sure there is still some left.

I am going to stick to me guns Mads. We have an interested party imo but we have not yet passed a certain threshold re resource and further potential. If and when we reach that then it’s game on but it seems pretty clear to me that we have another solo year.

Hi Mads,

Hope you are well.

No you have read it correctly. The NPV of 123 m is based on extended case (800 k ounces) using 1300 US dollars per ounce. This would give us a profit I reckon of around 40 million or 3.2 p a share. Of course, there is a plus side now.....

1. Extended case is likely to be revised in new PEA based on additional proven gold resource figures.
2. Gold price base likely to be raised from 1300 to around 1400-1450 ( 1650 today) in revised PEA.
3. High potential for further resources and revised PEA will NOT be
published until this has, to some extent, been proven by extended step outs and 2 x deep drills at BAM.
4. This case is for BAM gold only and not other resources therefore price per share on any buyout would include this in addition.

My view only Mads and definitely not an expert here.

On second point (the director dealing RNS )I am never sure what to think. On plus side is director trading on open market (good) however rules governing director trading, permissions and timeframes pertaining to insider trading tend to suggest that we are not going to have any earth shattering news any time soon.(bad).

Rose tinted glasses back in my cupboard for a while.

UR

Nah,

Next leg up coming

Hi Mads,

Absolutely. Really hope Bill is ok.

I agree with you about Junior Lake. Drill teams from outside would be main risk but may well be local. Do you happen to know who they use?

With you on the trading. Be good to see a sustained rise.

Cheers

No I guessed not Mads lol.

Glad all well. Soz thought from your wording occasionally that you were up North. Anyway Devon area sounds good to me.

I have been trying to find news about Covid effect on mining and exploration work in Canada. The Aussies are shutting things down in one or two areas and consider this a possibility for us. That said, we have not had any news about drilling so if no drill teams present I presume the staff on site would be pretty permanent rather than fly in/ out and so risks would be minimised. I rechecked the last few RNS this morning and confirmed that the updated reports we are waiting for are delayed pending drill results from 2020 targets based on last years work and soil sampling in particular.

We may have to be realistic here in the circumstances and accept it could be a slow year. Very happy to be wrong here though.

UR

I tell you Jerry,

So many possible permutations eh?

Talk about wanting to be a fly on the wall.

Jerry, Kempey,

The MRE has got to be the main consideration. From what I am seeing from PG the necessary infill to arrive at an MRE is ongoing hand in hand with the step outs. The fact that NC appears to have amended their timeline on the Maiden estimate indicates that they are going all out. What happens if stage 4 is completed with a Maiden Resource Estimate valued at X leading to NC taking the extra 5 per cent at fair market value based on the Maiden Resource Estimate and then further drilling continues to expand the resource to Y.

Are you both saying that is the point where negotiations over the final 25 per cent ownership might take place?

Hi Paddy,

Thanks as always for your fantastic posts.

With regard to your 15:51 today, could I discuss a point please.

As a starter:

‘’(Additional Farm-in) within a period of 12 months from the date following satisfaction of the Stage 4 Commitment (Additional Period), Newcrest shall have an option exercisable by written notice to the Company for it or its related body corporate nominee to acquire an additional 5% Farm-in Interest at fair market value.’’

As the months have gone by, I have come back to this additional 5 per cent feature of the agreement many times. At the time of the farm-in, I took the view that this final 5 per cent option available to Newcrest had been made available as part of the excellent relationship allied to the business interests of both parties. I also considered that the agreement had been reached after a period of intense negotiations based on information available at the time.

Now, I accept that perhaps the full extent of Hav was not known then but equally I believe that CB probably had an idea of the potential of the discovery as no doubt would his counterpart at NC after wading through the available Ggp data and initial drill results. The fact that NC entered the agreement with the commitment they made means that they knew this was going to be big.

The thing is Paddy would the agreement not have contained further proviso’s at that stage which would more easily have allowed NC to take 100 per cent of Hav if the circumstances warranted. It seems clear to me that Ggp wanted badly to retain a portion of their discovery and it also seemed that NC were ok in agreeing to that. Equally, I have always argued against any form of hostile move by NC and also believe an acquisition is unlikely.

In conclusion therefore, whilst I accept that business agreements can be fluid and I would never be so naive as to suggest that NC would never make an offer for 100 percent of Hav, I do think that any refusal of such an offer would not necessarily lead to a strain on the relationship as they seem to be on v good terms. I honestly believe that Ggp will do a ‘Hav repeat’ at some stage (hopefully sooner rather than later) and that NC will want to do business with GH again.

Just me thoughts Paddy.

Kind regards. UR

Good to see confidence returning with that last £1.27 buy!

Come on; own up!

Not you was it Mads lol

Ps. Hope alls well up North?

MS,

Fair point.

Apologies.

UR

Dv,

Cheers.

MS,

For heaven’s sake read it properly and digest.

You have just exemplified my point.

UR

Hi Viking.

God only knows. I would be a little happier if some of the idiots on here would at least use correct grammar and spelling when constructing.......

There usless and aggresive posts. I would of expected this share price to be T leat 10p now with the size of haverion. We only have to drill scellyweg now and were on our way. These idiots don’t know what there talking about with there none sense.anyway I am of to get toilet rolls and ‘get’ a cup of cofee.

Bessed

UR