Georgian Mining Share Price (GEO)

Share Name Share Symbol Market Type Share ISIN Share Description
Georgian Mining Corporation LSE:GEO London Ordinary Share VGG9688A1003 ORD NPV (DI)
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 1.40 0.00 01:00:00
Bid Price Offer Price High Price Low Price Open Price
1.30 1.50
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 0.21 -8.79 -7.65 2
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 1.40 GBX
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Date Time Title Posts
20/8/202008:47GEORGIAN MINING CORPORATION3,765
09/4/201811:34INTERVIEW: Georgian Mining Corp7
06/3/201712:11Georgia Mining Corp (formerly Noricum Gold)78
25/11/201513:00Invest in Georgia: Trust me...4
26/11/201420:58Geothermal Energy companies56

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DateSubject
07/7/2022
09:20		Georgian Mining Daily Update: Georgian Mining Corporation is listed in the Mining sector of the London Stock Exchange with ticker GEO. The last closing price for Georgian Mining was 1.40p.
Georgian Mining Corporation has a 4 week average price of 0p and a 12 week average price of 0p.
The 1 year high share price is 0p while the 1 year low share price is currently 0p.
There are currently 133,756,991 shares in issue and the average daily traded volume is 0 shares. The market capitalisation of Georgian Mining Corporation is £1,872,597.87.
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20/8/2020
08:23		iloveit: Was NMG then GEO and is now EEE .This has had a name changes only so price seems to be heading like earlier name changes increases in shareprice from low levels very quickly 25p was hit.
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02/2/2020
17:40		bspgamer: Georgian Mining CorporationThe Georgian Mining Corporation saw its share price leap more than 150 per cent on Tuesday after the gold-copper exploration and development firm announced some good news from its Bolnisi Project.Georgian Copper & Gold JSC, in which it owns a 50 per cent stake, has received confirmation of entitlement to two key deposits in the Bolnisi area – for Kvemo Bolnisi East and Dambludi.Chief executive Mike Struthers said the firm would be working hard now to persuade Georgia's National Agency of Mines that it is entitled to other important deposits in the area.After an initial stock price leap, from less than 1p to 2.6p earlier in the week, the firm's share value settled at around 1.75p by Friday.
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02/2/2020
14:10		noirua: As we know. The low market cap is the reason for holding on to the gamble here. The share price may only eventually rise to 40% of the former high = 10p. Such have been the struggles with wrong estimates in the past on production timing. Followed by costly delays in getting appropriate mining licenses. Also cash raising at much lower share prices when looking at a cash raising at 14p not that many years back. There are swings and roundabouts as the copper price has been lacklustre and the gold price fairly buoyant. However, the recent RNS has shown that things are moving now in Georgia and further announcements and moves will follow quite shortly. Fair enough to see the negative points because the situation does remain a punt even though the gloom is lifting.
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29/1/2020
07:24		bspgamer: Great post on LSEInterest returning29 Jan 2020 03:41Only reason people care so much about how a company, that was worth 2m odd mcap this time last month, is now worth roughly the same again this morning. Is because bullish or bearish - share price wise, they understand (or think they do) the potential (some of), of where the company mcap can go. Company essentially halved in traded value last week from one month prior on no publically announced change in circumstance, and virtually nobody cared to comment.Now news released (not placing conatations weather good or bad) and the mcap goes back to similar level and suddenly dozens of people are beside themselves and see fit to expand effort in writing and posting strong opinions on a public forums late into a working evening.Imo, the very level of interest, demonstrates the potential and therefore financial stakes between buying sub 1p, buying 1 to 2p and 2p+, when taken in context to where these people see the potential share price in the months and years to come.On a personal note, I sold in the 20s and started buying back around 13p seeing good value, continued to buy in at 8s 6s 5s 3s 1.8s before significantly averaging down by buying much bigger stakes, first sub 1.5p then sub 1p right up to yesterday morning.As of now after around 2 years of paper loss I'm back very much in profit. Massive thankyou to the bod involved here who have stook this out for so long. The potential loss of tenure over the further license is very disappointing and a massive blow to how far geo mcap can go in years ahead. The potential scale of TS and others is truly exciting based on and along with the pre existing exploration info.Again, imo, the main reason this has been so hard and taken so long, is because someone figured out just how good this consolidated chunk of land could be and decided to try and retrieve it/some of it. Will they succeed and how much will be lost from the geo stable?In the context of 10, 20, 30m mcap, no consideration really need be placed on this issue. Kbe and dab can take care of that just fine. If we not drilling at TS we wont need the full 2m usd for the previously planned 6 month work programme (will now be shorter as some work completed) designed to get kbe to dfs completion and further the following 2 pipeline assets.Roughly 1m was to get kbe to, go/no go decision stage.The other 1m to explore dab and ts.Now likely max they need is 1.5m for the work programme. Plus say 0.5 for WC etc.Question people should consider, how many shares will it take to raise that, because when they raised 7m at 16p they did so in an environment where institutions were offering double at the same price. Interest was there for a reason and the reason is coming back swiftly.People know that, and are trying very hard to buy the company at a price where losing its only assets was priced in, at a time when that risk has seemingly been virtually removed with the NAM confirming the reduced tenure.AIMO ATB
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28/1/2020
13:01		kboos: Reks: Google cached text says "Georgia issues large number of mining licenses. By Tamilla Mammadova – Trend: As of today, 4,200 mining licenses have been issued in Georgia, of which 550 were issued in 2019, the Minister of Economy and Sustainable Development of Georgia ;Natia Turnava said, Trend reports citing Georgian media." Article references 2019 and prior licenses issue so presumably RNS would have been issued by now If GEO had license. Sorry. P.s. i think most of those licenses are for water boreholes.
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23/1/2020
18:52		noirua: Reminder from 30 June 2019: In terms of costs and treasury, the Directors and Executive staff have not received any compensation for their strenuous efforts on behalf of the Company since May 2018, and this situation continues. As was announced on 23 May 2019, given the continued delays and resulting poor share price performance of the Company, the Board concluded it was appropriate to write-off their Directors fees owing since May 2018, with the exception of the Chief Executive who wrote off part of his fees. Operating costs in Georgia continue to be at a minimum, with our joint venture partner continuing to contribute 50% to the cash costs. We continue to maintain our small team in country, at a low cost, with the aim of being able to commence work rapidly once the permit is issued. As reported in the annual accounts for 2018, as a result of these continued delays the Directors have concluded that the Georgian exploration assets no longer fully meet the capitalisation criteria under IFRS 6 and have recognised an impairment provision against these assets until the good standing of the exploration permits is resolved. This impairment will be reversed once the permits have been renewed. In May the Company raised GBP380,000 by way of a placing and we would like to again thank our shareholders for their continued support during this challenging period. [raised at 2p a share] For the six-month period ended 30 June 2019 the Group is reporting a pre-tax loss of GBP384,827 (six months ended 30 June 2018: GBP655,160). The Group's net cash balance as at 30 June 2019 was GBP428,848 (six months ended 30 June 2018: GBP1,397,844).
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17/1/2020
11:30		noirua: Added a further 100,000 shares at 1.12p. Average paid is now about 2.4p a share. 28 June 2019 - Https://www.investegate.co.uk/georgian-mining-corp--geo-/rns/final-results/201906280700047365D/ In terms of costs and treasury, the Directors and Executive staff have not received any compensation for their strenuous efforts on behalf of the company since May 2019, and this situation continues. Given the continued delays and resulting poor performance of the company the Board concluded it was appropriate to write-off their Directors fees owing since May 2018, with the exception of the Chief Executive who wrote off part of his fees. The total write-off since May 2018 is £275,000. Furthermore, the company has made progressive reductions in operating costs both in Georgia and corporately as the permit delay has continued. This has regrettably now included reductions in non-core roles and staff redundancies. We continue to maintain our small team in country, at a low cost, in the hope the permit will be awarded in the near future and to enable us to commence work rapidly. A combination of initiatives has been successful in raising the permit issue to a high priority in the Georgian government, and I hope to be able to report positive progress in the near future." The Group's cash position at the date of signing this report is £420,000.
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16/1/2020
13:24		gta5: The short answer is none, or almost none. If Struthers want to keep this alive he's going to have to pull a substantial rabbit out of the hat. Sitting and juggling excel spreadsheets in sunny Portugal will not do much longer... On the other hand, Georgia has a delicate and complex relationship with Russia and russian interests, as do RMG. Giving RMG more acreage is sensitive, as is RMG's sharing of such acreage with GEO.... Lots of room for backstabbing and intrigue, and little on the side of UK shareholders of an almost bankrupt AIM company that offers little to the Georgian state or RMG in its current form. Holding out just in case, but essentially written off in my portfolio. Another AIM embarrassment for the collection. GL, GTA.
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01/10/2019
17:08		bspgamer: London-listed Georgian Mining is still waiting for Georgia to grant it an exploration permit extension, although chairperson Neil O’Brien said on Thursday that recent changes in the government provided some basis for optimism that a solution could be on the horizon. “There would appear to be a stark contradiction between the treatment of the company in respect of our exploration permit extension, and government's wish to increase foreign direct investment and expand the resources sector,” he said, slamming the more-than-a-year wait for a permit extension as “wholly unacceptable”. While the situation under new Prime Minister Giorgi Gakharia remains unpredictable, the company is hopeful that a resolution can be found. “. . . we continue to explore all avenues for resolving the application and to engage with senior government officials and other influential parties to try to solicit an outcome.” Gakharia earlier this month succeeded Mamuka Bakhtadze, who stepped down as Prime Minister after little more than a year, saying he had accomplished what he set out to do. In terms of costs, the Georgian Mining directors and executive staff have not received any compensation for their efforts on behalf of the company since May 2018, and this situation continued. The board concluded in May last year that it would write off directors’ fees, with the exception of the CEO, who wrote off part of his fees. Georgian Mining’s share price has been under pressure since the permit delay was announced last year, with the stock now trading at 1.39p a share, compared with 14.75p a share at the start of May last year. The company along with its 50% joint venture partner, Caucasian Mining Group, operates on the prolific Tethyan Belt, a well-known geological region and host to many high-grade copper/gold deposits and producing mines
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25/1/2019
08:28		bspgamer: 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.
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