Georgian Mining Share Discussion Threads

[bspgamer] 25/1/2019 08:47

That is the full version of the twitter link

[bspgamer] 25/1/2019 08:28

An ongoing permit delay and collapse in commodity prices walloped Georgian Mining last year. With macro conditions now beginning to improve and the licensing issue approaching its conclusion, could the business soon shoot up from its current 5.7p share price?Tethyan portfolioGeorgian Mining is a copper and gold exploration and resource development company focused on Georgia's Tethyan Belt. The Tethyan is a well-known geological region that hosts many high-grade copper-gold deposits and producing mines. The firm controls a sizeable 860km2 licence area in the country through a 50:50 joint venture with a local Georgian explorer.The company's most advanced project is Kvemo Bolnisi East (KBE). This contains JORC resources of 2.3Mt at 0.85g gold and 3.15Mt at 0.82pc copper. KBE is found less than 7km to the north-east of the producing Madneuli mine and processing plant. These are operated by the Rich Metals Group (RMG), a production company run by Georgian's local partner.The business is also examining numerous prospects in the wider Kvemo Bolnisi area. This includes Gold Zone 3, where drilling is planned to investigate the relationship between mineralisation and established resources nearby. Another prospect in the area is Kvemo Bolnisi West, where historical drilling intersected polymetallic gold mineralisation at the same depths as Gold Zone 3.GEOimageGeorgian's second-most advanced prospect in its licence area is Tsitel Sopelu. The site is found 12km north-east of Madneuli and 6km east of KBE. It has a 3km by 1.5km footprint where outcropping oxide gold, base metal, and barite mineralisation is hosted within strongly silicified felsic volcanoes. Georgian said historical drilling had shown clear evidence of increasing gold grade with depth.Other prospects in the firm's JV portfolio include a base and precious metals project called Dambludi, a gold prospect called Tamarisi, and a site of copper mineralisation called Balichi.Busy periodLast year saw Georgian outline it plans significant steps to transition from an explorer into a mine developer and producer. This began in March with two pieces of big news.Firstly, the company announced that its former chief operating officer Michael Struthers had been appointed chief executive. He replaced Greg Kuenzel, who moved into a new role as finance director. With 37 years of international operational mining experience, the business felt Struthers would be ideally suited to advancing KBE and fully developing the mineral potential on offer in the wider Kvemo Bolnisi (KB) project area.The news came just days after Georgian signed a critical memorandum of understanding with RMG for KB. This stipulates that ore from KBE will be mined and then hauled and processed at one of RMG's processing plants.Importantly, the month also saw Georgian launched into a 2018 work programme. This was focused on developing gold oxides around KBE through an infill drilling programme for resource definition and further exploration in the KB areas. The company also said it would carry out additional test work and environmental and feasibility studies to achieve its target of starting a mining operation at Gold Zone 2. This would also see it carry out further testing and expansion of the JORC copper-gold resource beneath the oxides at Gold Zone 2 and another area called Copper Zone 1.Unfortunately for Georgian's shareholders, much of this planned work has been held up by an ongoing delay in the firm's application to extend its exploration permit. The company holds a 30-year mining licence for the extraction of minerals in Georgia. However, this contains a requirement for separate staged permits for continued exploration at its named deposits and wider licence area.In June, the firm announced in June that it had completed negotiations with the Mining Agency to extend the exploration permits before agreeing a final application. However, before this can become valid, it must be submitted to and approved by the Georgian government. Until this has occurred, the company has agreed to suspend fieldwork temporarily.This process first received a setback in June, when Georgia's Prime Minister resigned unexpectedly. This prompted a government reorganisation and a 'settling in' period where no progress was made in approving Georgian's permit. Although approval has still not been granted, much progress has since been made.Firstly, the process advanced considerably in September when Georgian announced that permit approval was imminent following a successful meeting with the country's new minister of economy and sustainable development. Following this, in October, the company said the minister had endorsed the permit.Finally, earlier this month, the business said the permit was included in a December cabinet meeting immediately before the government went on its Christmas recess. The company is now waiting for final approval, with chief executive Mike Struthers adding:"We're pleased the Resolution on the exploration permit was finally addressed at a Government session. During the meeting, there were minor points for clarification raised with the Mining Agency, which were satisfactorily addressed and we are now awaiting the final approval. It is our understanding that all of the Ministries have responded positively and there continues to be strong support for the application. We look forward to updating the market when we have further news.'Where next?The combination of repeated licence delays and a rough period for commodity markets in the second half of 2018 has seen Georgian's share price collapse from 16p to 5.5p over the last 12 months. It now has a market cap of just £6.5m despite boasting an extensive portfolio, a healthy £1.4m cash balance (as at 30 June) and a strong, and experienced management team.With the licence looking set to pass imminently and commodity prices improving, two major blockages to the company's progress and valuation look set to clear. If everything goes well, it will be able to return to its original plans with no fundamental changes to its investment case. Could these potential catalysts trigger a strong rally in Georgian's shares? If you think so, then it may be worth taking advantage of current weakness before it is too late.

[burtond1] 25/1/2019 07:43

Is @Georgianmining a solid buy following a difficult 12 months?An ongoing permit delay and collapse in commodity prices walloped #GEO last year. With the licensing issue approaching its conclusion, could the business move up from its current 5.7p level?https://twitter.com/tmsreach/status/1088702542601695232?s=21

[dexydog] 24/1/2019 11:27

Thanks for pointing that out meanreverter, I agree with you. TTfN Dexydog

[meanreverter] 23/1/2019 22:01

There are plenty of other places to chat about Brexit. This thread is set up to discuss Georgian Mining.

[dexydog] 23/1/2019 14:47

Answer to tm.
Dear Teresa May,
I do hope you get the chance to read this Email. I know we really loved your speech at the Conservative Conference last year. I,and my friends all agree with your Ideas, and think you performed admirably, despite all the unfortunate happenings. I am sure your severe cold was temperary, and you are now feeling a lot better. Please do NOT pay any attention to the turncoats that are unfortunately advising you to go, as we FULLY SUPPORT YOU. I know you will handle leaving the EEC perfectly well. Please DO continue to be our excellent Prime Minister as you are our best chance to be able to leave the EEC. If the EEC will not play ball, then let us go without an agreement. It is only some businesses that have vested interests that are selfish squealing 'remoners'. There are many businesses that will be much better off. I know that we will make it, and we will do well under the Conservatives. I remember when we could make our own decisions and make our own rules, and could decide on our own border controls. Teresa, I really wish you well, you have my full support, please do not give up, and carryon being our excellent P.M., with very kind regards, Yours faithfully Dexydog Ieng. MIET

[teemore] 22/1/2019 21:11

The leave voters were sold a pig in a poke and had no idea what the were voting for! They still do not know what they want and cannot agree amongst themselves, so a deal would be difficult in those circumstances.

[iloveit] 22/1/2019 19:58

Zzz where is Greg to the rescue ?When he was CEO this stock was flying Greg Kuenzel CEO of Georgian Mining Corporation #GEO .This new team have done nothing for shareholders since Greg stepped down.This is not acceptable as to why price has crashed .We want GREG .

[snowyflake] 22/1/2019 18:28

Over 40 year association with the EU which has to be unlocked; thus a different proposition dsb.

Also whilst a chunk of the UK's workforce is on low wages care of freedom of movement and austerity resulting to the financial damage done to the country by the last Labour government, the UK's current employment record is sound compared to much of the EU. Sorry folks for the political references.

[davidspringbank] 22/1/2019 17:14

It's taken our government over two years to negotiate a poisoned deal with the EU which has been overwhelmingly rejected and it looks like Leave voters have been ignored. So, in comparison, a few months waiting on a permit from the the new government in Georgia is a breeze!

[snowyflake] 22/1/2019 16:10

The normal rule of thumb in the UK is that H M Government likes to get people back to work and see employment as full as possible. That creates a good feel factor for the population. Surely Georgia is not different.

[dexydog] 22/1/2019 15:41

I’ve got my Scuba Kit on, but the bottles getting a bit low, can’t hold my breath for too much longer. GULP! I’m beginning to loos my patience let alone my virtue. OOOH! I understood that the unemployment figures had risen a bit in Georgia, so said the Beeb News before Christmas (BBC WORLD Service). Surely this Mine will help the unemployment figures a we tad. As GG said previously, I hope it’s not a dislike to some other nationals that are in the JV. If our CEO is correct with his latest prediction, then my Scuba Bottle may just Last. TOODLOO TTfN DexyDog

[seanlander] 22/1/2019 12:26

I'm just putting together a few ideas as to why we haven't had signoff yet from the pm in Georgia?1) Dog ate the paperwork?2) Russians turned up with a crate of vodka and Georgia is now on a national holiday for a month3) The Mont Blanc pen I sent in the post got nicked...4) They are still playing paper, scissor, my stone!5) struthers has been approached by the Chinese to get a permit on the moon, as it has less paperwork.Any ideas from you chaps?? We are all holding our breath but shareholders will be needing serious resuscitation if they wait any longer...Come on let's get this mined in our lifetimes!!

[soultrading] 22/1/2019 10:30

Well, I guess that is what makes a market, buyers, and sellers. I like GEO, it waits for news, yes, but it has a tiny number of shares and presents an opportunity to get involved at a discount to institutional money.

It is making a double bottom on the chart and I think it will do well but am happy that you disagree 5trelok. I wish you luck in your investments. Current price is 5.65 let us see where we are in a couple of weeks.

[5trelok] 21/1/2019 12:08

And this...

"Trading at a massive seventy five percent discount to highs and massive discount to institutional money."


Why not get stuck into Debenhams?


- it's trading at a massive 90% discount.


I sense the endgame is being played out.

5t

[soultrading] 20/1/2019 16:28

hxxps://soundcloud.com/doc-h-4/dlc-19-1-back-in-the-game-infa

[soultrading] 20/1/2019 16:19

Doc Holiday, who I have a lot of respect mentioned GEO in latest pod cast. Listen at 13.40 for GEO but the whole podcast is EPIC.

He says it is down at the bottom or there abouts. Copper and gold likely to do well in 2019, there have been delays but he is hearing they are being resolved. Trading at a massive seventy five percent discount to highs and massive discount to institutional money.

He says it has GOT TO BE WORTH A GO! and I agree.

hxxps://soundcloud.com/doc-h-4/dlc-19-1-back-in-the-game-infa

[noirua] 20/1/2019 14:36

There is a danger of a capital raising that is putting new pressure on the share price. Cash was under £1.4m at 30 June 2018. If cash burn is at the same rate then the coffers are running very low. Time to sell or at least reduce.

[soultrading] 18/1/2019 10:46

Won't take much to move it up.

[seanlander] 16/1/2019 08:20

Buying continues around 6p. Will we get sign off today. Could be a shrewd time to invest...

[davidspringbank] 15/1/2019 15:42

I thought that I was the only one here - where did all these people come from? It must be something to do with the news of the permit. Lol

[the deacon] 15/1/2019 14:08

Edale must surely be almost out. Now Amati dumping. What do they know?Doesn't sit well with me.

[5trelok] 15/1/2019 13:11

TB Amati dropping these like a bad habit.

Someone on lse said it was Edale - clueless






5t

[seanlander] 15/1/2019 09:28

Nice couple of early buys today... let's hope Wednesday will be sign off day!