Member Info for Willowman

Well there you go, I did mention pie a few days ago and now you have it from the man himself..

We will have our day. The value being built here can only be ignored for so long.

We just need to draw on our reserves of patience and fortitude until that day arrives.

goneawol, that is a great find, thank you for sharing.

There is sooo much positive information in that interview.

One of the stand outs is that Condor have placed a tentative bid on second-hand plant!!!!!!!

Also money will need to be raised but key shareholders will maintain or increase %.

When asked if key shareholders would fund capex Mark had a grin 6ft wide.

At last things look as though they could be gaining momentum, it's been a long road but perhaps we are nearing our destination.

Tester, all very nicely laid out there. Even the long suffering lth enjoy the little boosts provided by such posts.

I would add that Rio Tinto have entered Nicaragua, as someone on here pointed out they would have carried out 12 to 18 months of dd. They didn't decide to go ahead on a whim, they obviously saw something that they liked hence the tie up with Calibre and the mandate for them to buy assets. I can't see them being interested in early stage exploration projects and the accompanying long lead times. I don't know how many permitted, undeveloped 1million oz+ gold deposits there are in Nicaragua but I would guess that the list is very short.

Too much time on my hands today. All of my figures are back of an organic humous pack rough calcs.

The plan is for cnr to produce 100k oz/pa at aisc of roughly $700. At current gold price and after capital is paid that gives us free cash flow of about $100 million.

Sorry ggp lovers, I aren't picking on you I just want to use the company to highlight the latent potential here in cnr.

We don't know what the future production will be from Havieron as they are nowhere near that stage. For arguments sake let's assume that it will be the same as cnr at 100k oz. Aisc will be higher than cnr for several reasons; the deposit is in Australia where wages are higher, it will be an underground mine so is more labour, time and capital intensive and lower volumes of ore will be produced. The ore also needs trucking to Newcrest's plant. So being conservative let's put aisc at $1000.

At current gold price of $1700, 100k oz at $1000 aisc gives free cash flow of $70 million. Not bad you say, not as good as cnr's $100 million but still not bad. Hold on a minute, by that stage ggp will hold a maximum of 30% of the project.

What is 30% of $70 million? Oh dear, it's only $21 million.

So how is a potential future cash flow of $21 million currently valued at $300 million while a potential future (much nearer future) cash flow of $100 million is valued at $30 million.

That seems a little upside down to me.

The potential for share price/market cap increase here is phenomenal, note I say potential.

We own 100% of our project, we have 1m ounces at shallow depth permitted, some bonanza grades have been reported, potential for 5m ounce district, low aisc etc etc (it gets tedious listing all of the positives as there are just so many), and a rather ridiculous market cap of £30m.

In comparison ggp have a market cap of £300 million+/-. Wow there must be something really, really extra special about ggp right? Err, well actually no there isn't. Yes they have a farm in agreement with Newcrest, well there you go then that justifies the outrageous market cap. Err no, if Newcrest fulfills its farm in obligations they will earn 70% of the project, that obviously only leaves ggp with 30%. Ah you say, they are encountering fantastic grades, and yes they are. A few bonanza intercepts do not make an economical project. Not to mention the depth of the intercepts, they will need to go underground to get at the ore and that costs. Ok they don't need to build a processing plant so that will save money. Now I may be wrong on this one but I can't even find mention of a jorc compliant resource.

My feeble mind can't help thinking that one doesn't get a lot for your money with ggp whilst in contrast you get a great deal at a rock bottom price with cnr.

My point is that ggp's market cap is irrationally high whilst cnr's is irrationally low. That could change, we could become the latest hot property, the giddy kippers and rainbow chasers could descend upon cnr. (I know that there is money to be made by trading and through momentum).We could, one day, have an irrationally high market cap.

The trouble with this martial law is that one has way too much time to dream!

John your glass truly is less than half full these days. Yes production guidance is down as we all expected but we are also debt free. The prospective partner is effectively laying out x million now to buy themselves 51% of a cash machine. Recent advances mean that the cash machine will be paying out for longer. Surely that makes it worth a larger upfront payment?

Anyway my glass runneth over so for now I choose to believe that we will secure a better deal. It makes me happy to think thus and reality is a psychological construct so I choose to construct a positive reality paradigm for myself. Psycho babble!

Moneymaker, you are right that we will have to wait a bit longer for this to unfold. However, from Kerim's statement;

This provides additional time to enable an even more thorough review by the Parties and coincides with significant new project developments, including the revised Resource Estimate for Kiziltepe, announced last week, and revisions to our resource for Tavsan which remains work in progress. In addition, at Tavsan we are in the process of finalising the development schedule for what is expected to be our second mine in Turkey."

A more thorough review by the parties, not just the potential partner but the parties of which we are one. He then goes on to list all of the positive developments that have taken place since the proposed deal was made public.

To me that sounds like a hint that Kerim and the gang are after a better deal, a deal that recognises the recent progress and increased value of the project. I am hungry for pie but am happy to wait a bit longer if it means a larger slice.

I rather like the wording, it hints at us receiving better terms than those initially proposed.

bunion, Harry most definitely 100% DID NOT get Emed into production. He did exactly the same as he has done here, exactly the same. He strung people along with one lame excuse after another for years. Along the way he diluted and consolidated PIs whilst richly rewarding himself. Only after he was ousted and replaced with a credible and competent CEO did the company start to make progress and come into production. Harry was the problem, Harry was removed and the problem went away.

100% fact, any Harry fans can check out Emed, now Atalaya, for themselves. Don't reply with nonsense until you verify the facts.

OB, that does sadly seem to be the pattern for Tower. I have held some of these for more years than I care to remember and due to consolidation just never bothered to offload them. Then recently my attention was grabbed and interest rekindled to such an extent that I put in a few K at 0.4p.

Clearly I am a dullard and a very slow learner. So now I chant myself to sleep with " never buy Tower shares again, never buy Tower shares again, never buy Tower shares again ".

Will I learn?

Thanks for sharing Jupiternmars. All nice steady progress, accompanied by a nice steady share price. No froth just calm, solid and dependable.

Afraid nothing slightly rude springs to mind John but then I am from Yorkshire so what would you expect?

Vanvan, I always enjoy reading your posts. They tend to be very upbeat and positive, based on factual information, without being excessively rampacious

Keep up da good vibes mate innit, (must be said whilst wearing your most vulgar bling and your baseball cap back to front).

Clearly spending too much time under martial law, help needed!

Fair point Olly, I acknowledge that. I am no fan of the NHS in its current form and believe it should be cleansed of inefficiency, malpractice, rent seeking and much more.

Am also very hacked off with them at the mo as my much loved mother inlaw was admitted very recently with lung cancer and a uti and she received appallingly negligent treatment. Because she had a cough (lung cancer) and temperature (uti) no staff would go near her for about 10 hours. No antibiotics, no drip or drinks to rehydrate her. Needless to say she died shortly after, not from her cancer but an infection. Hence she is a non-covid casualty of this madness.

So excuse me folks if I don't hail the brave doctors and nurses.

Rant over

Olly, how much borrowed, debt based currency would you have us spend on the inefficient and sclerotic NHC? Do bare in mind that every pond borrowed for today's spending has to be repaid with interest by our children, grandchildren and great grandchildren. Are you advocating that we steal from the future and impoverish future generations (even more than we already do)?

"Total health spending in England was around £129 billion in 2018/19 and is expected to rise to nearly £134 billion by 2019/20, taking inflation into account. In 2018/19 around £115 billion was spent on the NHS England budget.9 Jul 2019"

Isn't that enough?

GamblingAddict, people are selling, the share price has fallen. Maybe this is a bad RNS, after all grades of 10 to 36g/t Au and up to 247g/t Ag aren't particularly high it would seem. At least not high enough for irrational PIs

Extract from OUR GOVERNMENT'S WEBSITE:

Status of COVID-19
As of 19 March 2020, COVID-19 is no longer considered to be a high consequence infectious diseases (HCID) in the UK.

The 4 nations public health HCID group made an interim recommendation in January 2020 to classify COVID-19 as an HCID. This was based on consideration of the UK HCID criteria about the virus and the disease with information available during the early stages of the outbreak. Now that more is known about COVID-19, the public health bodies in the UK have reviewed the most up to date information about COVID-19 against the UK HCID criteria. They have determined that several features have now changed; in particular, more information is available about mortality rates (low overall), and there is now greater clinical awareness and a specific and sensitive laboratory test, the availability of which continues to increase.

The Advisory Committee on Dangerous Pathogens (ACDP) is also of the opinion that COVID-19 should no longer be classified as an HCID.

If you live on a diet of media fear porn then the truth of what is happening will forever escape you. At the very least open your fear filled mind, tame the reptilian brain and look behind the stage scenery.

Link below to UK government website re covid.

Perhaps if you read it your survival fears can be laid to rest?

https://www.gov.uk/guidance/high-consequence-infectious-diseases-hcid#status-of-covid-19

I've listened to him a few times and I just don't trust him, he seems like an insider to me. Very well connected, very knowledgeable, part of the inner circle during the 2008 bailouts. Now he's decided to inform and assist the regular people. I don't find him credible.