Georgian Mining Share Discussion Threads

[laptop15] 13/2/2019 13:11

What news flow is due guys?? Like the chart

[soultrading] 13/2/2019 12:03

Looks like a good time for a top up.

[artyth2] 13/2/2019 11:03

Struthers started off his tenure by saying that share holders had been treated poorly as regards communication, and he was going to put that right. The jury is out on that one.
Looking back, an rns in June came out with excellent drilling results but was followed by the agreement with jv’s to shut down further drilling until the issue of permit. Ever since, what little comms we have had are to say ‘ due shortly’. Well it’s been shortly for 8 months.
In my opinion the JV is the problem.
They refused to sign an agreement to let us use their plant and eventually only agreed to an mou.
We have been told by Struthers that the Georgian gov are pleased with us. So by my reasoning the permit is delayed by the Government having issues with the the Russian JV’s

[grooty] 13/2/2019 10:24

Deacon, yes, you're probably right. Less than £1M. So they'll soon be running on fumes. On the other hand, if they get the permit their credibility should receive a decent boost together with an share price re-rating...
If the share price recovered to around 12p (On the back of new permits say next week). Then, If that happened; wouldn't raising 3-4m to get to production be relatively straight forward? (or am I being too optimistic?)

[the deacon] 13/2/2019 10:10

Cash will be less than that, though I'm aware the cash burn has been significantly reduced over the last 6 months or so. I'd imagine the board would want to get the permit over the line before any sort of raise, so should be considerably higher than today.

[grooty] 13/2/2019 10:05

TR1 will take a couple of days. Patience....

Cash should be about 1M?

[laptop15] 13/2/2019 10:05

What's the cash balance here guys?

[neo26] 13/2/2019 08:23

No holding rns?

[gta5] 12/2/2019 19:09

Deacon and neo26,
I agree on the funding part and the risks associated with both AIM and small Explorers.... Any bets on how much they'd need to get to production if all goes well?
($3-4M or so?)

...But with regards to Georgia in general I have no concerns. I know first hand that It's one of the most business friendly places around. If they believe in GEO they will surely award them the permits.
I've taken a position here based on my hopes of the viability of the JV with the producing partner as well as on the bet that they'll have the permits in due course.(hopefully sooner rather than later).

GL, GTA.

[the deacon] 12/2/2019 18:37

I know that. Nevertheless, it's not a great jurisdiction, and the board have presided over large-scale shareholder value destruction here. News on the permitting (either way) should be due, so let's see how the land lies then..

[neo26] 12/2/2019 18:05

DeaconIts not the boards fault that the georgia govt are not issuing the permit. Georgia are ex soviet and they tend to be hot headed you dont want to lose the license do you?

[grooty] 12/2/2019 17:20

Deacon:

1. Cash was low on last reported update
-Yes agreed. They'll need more cash before the summer.
2. Mining permit still hasn't been granted - after months of saying it's close
-Yes, but it's highly probable that this is imminent.
3. Two institutions selling out
-Yes, and this has pummelled the share price We are at 5p because of it.
4. Comms very poor from BOD
-Agreed. It's a proper startup with terrible marketing and PR.

All in all I'd say that looks tickety-boo..Wouldn't you?

-Well, maybe? My question back to you is this: Do you think that the company is well positioned to succeed with the JV they have, the identified resources and the probability of the exploration area they have?. If the answer is "Yes"; what's a fair price?(including the assumption that we get the permit this month) if the answer is "No", please share your resoning?

[seanlander] 12/2/2019 16:48

This is lining up to fly first thing.. with that last bit dumped it's going to be difficult to hold this down with the permits pending on an any day rns...Glah

[neo26] 12/2/2019 16:45

Directors bought in dec last year at 6.5p, seller is finally gone.Hence can see recovery.

[the deacon] 12/2/2019 16:22

Let's step back and take a look at this. 1. Cash was low on last reported update2. Mining permit still hasn't been granted - after months of saying it's close3. Two institutions selling out 4. Comms very poor from BOD All in all I'd say that looks tickety-boo..Wouldn't you?

[neo26] 12/2/2019 16:21

Loads of buys 2days

[the deacon] 12/2/2019 16:17

No, they really don't

[alexios1201] 12/2/2019 16:16

Talk to the BODthey have enough cash

[the deacon] 12/2/2019 16:03

Yeah, but GEO is flush out of cash.

[alexios1201] 12/2/2019 16:00

Amati are out by the looks of itCheck this large print

[gta5] 11/2/2019 15:22

5trelok, Thanks.
I think it's a good time, although I might be a bit early as it would seem that TB Amati and/or Edale Europe are offloading still, and have a few more to go if my maths are anything to go by.
Anyway.... here's to a swift recovery to former highs!
GTA.

[5trelok] 11/2/2019 11:17

GTA5 - I hope you're right. Nice entry level.

[gta5] 11/2/2019 10:42

5trelok,

I'm in as of today with a sizeable stake. (sizeable for me at least)
My hopes are on the recovery in the markets, and belief that Georgian assets represents a huge opportunity, especially with the established JV partner. I see the permits as a "when" and not "if". Assuming it will come any moment.

GL.