African Min&Ex Share Discussion Threads

[broncowarrior] 21/5/2013 11:43

Just to add, I think the share price will spike on the JORC but I'm not sure it will get to warrant strike price as it would be a 500% lift from here. If it gets to 8p, then the warrants could be moved down to that level to raise necessary funds, without horrific dilution.

[broncowarrior] 21/5/2013 11:41

Not sure on this one. The guy seems to have a lot of experience. It does suggest he has some experience in tapping cash from the capital markets. If we are going to go to full scoping study, PFS and BFS then we will need more cash than we have and the warrants are way out of the money at the moment (at strike they would give us 7mm) so we will need to reduce warrant strike or raise money elsewhere.

I'd still like to see us sell the resource just on the basis of the JORC, which will mean selling it at a large discount but still worth 20mm in my view.

The Chairman's statements at results said that they were on the way to being a leading junior gold explorer; to be that says the JORC will be as expected (pretty good).

[inbrackets] 21/5/2013 11:06

Today's RNS - More by way of a passing comment to the changes on the board, but with the Fiske nominee director retiring from the board, does this mean that the agreement and restrictions detailed in the RNS in Feb when they joined also fall by the wayside? With the JORC due out at some stage soon and the potential for maiden resource does this shuffle indicate an empty hit or a disagreement as to the spoils - or is paranoia the new normal.

[sparty1] 20/5/2013 10:00

I see kgld issued warrants @ 7p the share price is half that.They have 107million shares in issue..They have a pending licence issue,which they have been awaiting for some time.They have no apparent producing close neighbours..
I think I`ll stick to AME...the BOD and the whole team are excellent and I`m pretty sure our big neighbours are keeping an eye on us as a possible target.
I would agree with Bronco ,the likelyhood of open pit mining is attractive prospect.The variety of licences held is encouraging.84 million shares and I doubt half those are available to buy.We will get some serious volume here one day and then... dare I say it ..boom.

[broncowarrior] 18/5/2013 15:29

Lol, I mean "randgold"!

[broncowarrior] 18/5/2013 14:54

Also to add it is likely our resource can be extracted open pit reducing the costs hugely and the grades on the intercepts have been excellent. It is not just how much you have but how easy it is to get out. Randy old next door and new deposit hungry is also a big deal.

[yas27] 17/5/2013 12:11

F12- This will have 500k+ JORC Gold, could go to 1m+ oz with other assets.

Only 84m shares, Mcap £2m, No debt too & as of this month £1.2m with very low cash burn rate.

This is very cheap, should be @ 4p+ imo until further updates.

[christianf12] 17/5/2013 10:16

KGLD has a JORC resource of 225k oz in an area that has produced 25m oz in the past

KGLD has £6.25m in cash that will last 5 years on current burn rate.

KGLD has no debt

KGLD is capped at £3.75m

Makes AME look expensive or KGLD dirt cheap imo.

[broncowarrior] 17/5/2013 10:14

Some trades today, looks like people might be expecting some news.

[broncowarrior] 17/5/2013 08:19

Not much free float when good news arrives, means nice squeeze. Best use the other thread as this one hasn't been used for ages.

[yas27] 17/5/2013 01:13

Looks like most of shares are tightly held by directors.

[yas27] 17/5/2013 00:50

As of May 2013 £1.2m cash & 500k+ oz JORC news, Mcap £2m only.

[yas27] 17/5/2013 00:37

Been doing some research on this, will be buying more very soon with Jorc news, seems the drop has been overdone, well undervalued.

[yas27] 14/5/2013 19:55

Looks cheap to me!!

[broncowarrior] 14/5/2013 19:30

Yas, I'm hoping in the next couple of months, I may write and ask when I get the chance.

[yas27] 14/5/2013 16:17

This does look good/undervalued with Mcap £2m & only 84m shares, JORC 500,000+ oz news could be anyday??

[broncowarrior] 11/5/2013 17:07

Other thing is, they are only looking to JORC Gourbassi East at this stage. We could potentially have two JORC resources just for Gourbassi.

[broncowarrior] 11/5/2013 17:04

I know what you mean. I'm horribly down on bzm, could do with a 10 bagged on this. Gold prices recovering a bit would really help.Iof, lam and gbo doing well for me though.

[john6185] 11/5/2013 15:58

$20m/84m shares would certainly make a lovely return.

It would be great to reverse my huge loss on Noventa with the help of AME. If we hit 16p here, my portfolio would scramble back to break even.. An investment portfolio in the black would make a very pleasant change.

[broncowarrior] 11/5/2013 14:01

John, 20 mm probably realistic but 200 dollars extraction cost probably not as transportation and company admin costs have to e added in on top of the extraction cost. Anything around 1000 bucks an oz is excellent.

[john6185] 11/5/2013 12:49

A little JORC Speculation, just to help me keep the faith. :)

Say
1. estimated Jorc of . 500,000 ozs
2. $1400 per oz spot price
3. OPEX cost for open cast extraction = circa $200 per oz
4. Projected Profit over Life of Mine = $600m(assuming stagnant gold price) - Development Costs??

Sales price to Rangold following JORC ?? is £20m an unrealistic expectation?

[sparty1] 10/5/2013 10:21

1 buy this morning..All very strange.If there`s a better run,economical,well represented small gold miner explorer out there...with so few shares in issue I`d be staggered,and I`d like to know their name...The likes of Rangold must be monitoring surely.

[sparty1] 10/5/2013 10:17

Bronco,agreed..from memory it was higher before they found anything!2 grade rns`s later ... I have to get as many as I can now because anything like a jorc rns and possible development of finds or sell off to the neghbours will create such a squeeze it will be very hard to buy.Tiny free float of shares will shove the price up very quickly with multiple auctions etc.. As usual,someone will know before us pi`s .Watch out for increased volume or large buys.

[broncowarrior] 10/5/2013 09:45

I don't really see much downside from here, the price is ludicrous. A JORC will give us a proper asset which can be valued which should lead to a re-rate.