Member Info for Wigwammer

Foolish people for being optimistic and excited about their investments. Far better to chide such people, while contributing zip oneself.

So why did Matt Cooper invest £500k into a company which is clearly/obviously/blatantly worth zip? Very generous of the guy, who allegedly is only there to take money out.

Up to 2010 the company was growing while money flew out the window. 2010 cash operating loss £1.1m and only saved by a rescue cash call. IMTK has been in repeated collapse both before and after the current chairman came in - it doesn't take a great deal of research to see that. As a limited liability investment the shares must have some option value above zero. What value do you think that is? Or would you not accept the shares even if handed to you for free?

Sounds like the business prior to 2012 was a dead duck, rather than the very lame one we witness now.. "Prior to 2012 the Company was operating in what was an immature innovation market, selling a narrow technology offering to mid-level technology buyers with a limited consulting offering. During this period Imaginatik experienced a high level of churn within its client base and with little or no revenue growth resulting in operating losses."

Apols, meant resource update, forget the drills.

Drilling update from 2012 below - 1) note they expected production in 2015 and it has arrived 2016 - doesn't justify the legacy pessimism here. 2) check the oz = circa 1.2m - your chance of finding economic gold is increased if you're looking in a place with lots of gold in it! 3) flick back through rns history shows frequent senior management purchases at multiples of the current price - they clearly believe in the quality and scale of the assets. 10th September 2012 Patagonia Gold Provides Updated Resource Estimate For Cap-Oeste Gold-Silver Deposit, Argentina London, United Kingdom - September X 2012 - Patagonia Gold Plc ( AIM: PGD, TSX: PAT) ("Patagonia Gold" or "the Company") today announced an updated resource estimate for the Cap-Oeste Gold-Silver project in the Santa Cruz province, Argentina. Highlights: -- 24% increase in the Indicated resource: Total gold equivalent (AuEq) ounces within the indicated category, is now increased to 1,197,000 reported above 0.30 g/t cut-off, an increase of 230,000 AuEq ounces with respect to the previously reported November 2011 resource. -- 30% increase in grade: Indicated resource reported above 0.30g/t cut-off now grades 4.78g/t AuEq with respect to the previously reported November 2011 grade of 3.68g/t AuEq. -- The resource remains open along strike and down dip in both directions. Resource extension-exploration drilling is planned to restart in October 2012 on the Cap-Oeste structure targeting primarily the highly prospective COSE-Cap-Oeste corridor. Commenting on this report, CEO of Patagonia Gold, Bill Humphries, said: "Patagonia Gold remains focused on the discovery and development of high grade, low cost resources within our exciting portfolio of properties in the highly prospective Deseado Massif, Santa Cruz. This resource update has successfully increased both the grade and the ounces within the Indicated category on our high grade Cap-Oeste project. Patagonia Gold will now commence pre-feasibility studies in order to advance the project towards production, potentially for 2015".

Edzi - pgd is high risk but with highly skewed returns. The max you can lose is 100%, but there are credible scenarios where the upside is far greater than 100%. I would also be very happy with a 10p outcome - that's a 300% return, but I'm thinking about the outlier scenarios that get us up in that direction. The 25p target is just one outcome - is it that hard to imagine pog back up at $1900? Even if we do not return to this scenario, some movement toward it combined with some realisation of the asset potential will result in the shares multiplying. A good diversification imo, but a portfolio stock rather than a silver bullet!

Apols, that 1.7bn number is fully diluted, unsure of the option position at previous peak, so using the 1.5bn in circulation peak gets us to 25p+.

Not sure I get you, edzi. Historic peak is £400m cap, at current 1.7bn shares equates to 25p+. Of course, we are unlikely to see the historic price per share reached given the dilution, but there is still the opportunity to 10 bag if history echoes.

Yes stew, Though I'd be wary of the political stability bit - that's where the zero scenario comes in. But they've survived so far (just!) and the historic peak tells you where the market sticks political stability when it gets excited about a story. I'd like to know more about the asset potential and understand why some of the big FM names got behind this in the past e.g. Van eck and BR - because I'm guessing that story is about to resurface..

My guess is we have a decent sized seller in the background, probably flipping stock from the 1.5p issue, so the key thing is getting volumes up. This news should help, with more to follow. This may or may not hold the stock back, but eventually (6-12m) I think we'll see a very worthwhile rerate here given the scale of the potential resource, combined with consolidation of the economic asset value if/when pog takes off again. I can say with some level of certainty that this share will eventually be worth either zero or multiples of the current price. What it definitely won't be worth is the current broker target of 3p. Ta ta, ww

"That's my opinion. Same I suspect as House Broker. Sorry if that differs from everyone else on this thread predicting 25p by next Monday.." (madmktspan) Not everyone else on this thread is predicting 25p on Monday. You state that the house broker targets 5-6p on first pour i.e. 100%+ from here in short order. How consensually bullish of you. So despite your protestations to the contrary, your posts do not evidence anything new or contrarian. Golf?! Lol. Yes that fits.

"The reality here.. fact over fiction" Well, you got me excited, but then your point is rather dull. So the 3p target is pre cap o, and the target post flow is double that. Sounds great, but your alleged "reality" isn't at odds with what anyone else is suggesting.

I wouldn't pay much attention to the 3p broker target. Most brokers are as clueless as the average pi when it comes to valuation, and equally driven by sentiment. 82k x $400 = $32m or £26m. You don't have to be Einstein to work out that with a £43m valuation the shares are not demanding much.

This start up transfer business has a $1bn valuation. https://techcrunch.com/2016/05/25/money-transfer-company-transferwise-raises-further-26m-at-1-1b-valuation/ But you can buy 35% of Mastercards remittance business for sub £40m (esg owns 35% of homesend). One of them is mispriced.

"P&D dosh" Yeah, I used lse to p&d a £100m company. JS is a bit simple, methinks.

They don't just grow diseased oranges. That is silly consensus nonsense. If reading silly stories and believing them is your approach to investment then you should get someone else to manage your money. The only alternative is that people like me will keep taking your money off you. Wealth transfer continues.

Many thanks, let's hope it continues rising.

That cant be right, Pablo . If they found a non diseased orange one of the bod would have eaten it without telling anyone, or at least that's what the community of bears would have you believe. It's been a wonderful ride for those who got in at the lows. I've taken some profit but plenty more to go for. Wealth transfer in progress.

Hey bigoranger - have you checked the accounts and valuation yet?