Gunsynd Share Discussion Threads

[arlington chetwynd talbott] 20/4/2022 23:32

Sometimes. Not so much with GUN in the past.

[sloppyjoe2] 20/4/2022 21:41

Sadly the markets don't agree.

[thordon] 20/4/2022 20:15

Think we are in in agreement that there is a massive discount to the share value.

[ged5] 20/4/2022 17:36

Highlights from resource expansion drilling include the following thick zones:

55.3m at 2.16% copper, 17.15 g/t silver, 0.54 g/t gold, and 0.024 molybdenum, including 21.3m at 3.28% copper, 26.16 g/t silver, 0.76 g/t gold and 0.038% molybdenum
12.2m at 2.35% copper, 24.46 g/t silver, 0.57 g/t gold
6.2m at 3.19% copper, 44.94 g/t silver, 0.61 g/t gold, including 0.8m at 15.55% copper, 240 g/t silver, and 2.30 g/t gold.

Elevated molybdenum grades of 0.038% were returned in drill hole WT-22-94 over an intersection of 21.3m, with molybdenum common in copper skarns elsewhere in Arizona.

[ged5] 20/4/2022 17:29

Looks like some very good grades announced by Eagle Mountain Mining.

ttps://mcusercontent.com/344ebd20cb9b642b7e7439bbb/files/d6d4dfb4-f1bd-e5ed-25bf-d4083527be1a/Strong_Copper_Results_Support_Resource_Expansion_Potential.pdf

Just add the h at the beginning of the link or follow the link in the tweet!

Short video in this tweet:-

[ged5] 20/4/2022 14:57

Ha ha!

There's been that many times when unaudited accounts contain errors I've given up looking and try to find other ways to work out what I want to know. But in this case it would have been easier to look at the Administrative and other costs.

Quite pleased that the two figures are so close!

My fourth daughter is an auditor and often complains about mistakes in accounts especially those who miss decimal points. :-))

[donaferentes] 20/4/2022 14:06

Yes, but it's the IPO on pre-IPO stocks that creates significant value.

[donaferentes] 20/4/2022 14:05

I guess we can use 250K for six months as some sort of guidance to salaries and taxation.Or you could look at the P&L !! Lol.

[arlington chetwynd talbott] 20/4/2022 13:10

Yes, cash burn will get us in the end if none of the investments pop in the way that we hope. It was ever thus. But I like it that these days the most significant investments are listed and we can add them to our own watch lists - it was the pre-IPO stuff that was the main problem when I was last in - and I do feel that a centre of gravity in commodities is spot on right now.

[ged5] 20/4/2022 11:03

Thordon's figures may be correct for 31st January but now need to take into account the outlay for further First Tin investment. Take off the £75000 plus working capital and the discount is approximately 36.7%

I hadn't anticipated the cash figure of 1082000 on 31st January.

In the full year results cash was 1071000.

Since then there was the disposal on 31st January of some Charger Metals which brought in £260K.

There is no other announcement to indicate purchase or sales so they got through £249K in the 6 months.

I guess we can use 250K for six months as some sort of guidance to salaries and taxation.

[donaferentes] 20/4/2022 10:29

Thornton - your numbers are correct, but you've misstated the discount. 3,600/6,000 does indeed = 60%, but the discount is 2,400/6,000 = 40%.

[ged5] 19/4/2022 22:23

Thanks Donaferentes for confirming the 40% discount. I feel our explanations are falling on deaf ears!

Discount is now approximately 37% with today's prices. Also the £75000 plus any further deductions since 31st January should be taken into account.

Sp now 63% of asset value plus cash.

Edit: Wouldn't mind 133p :))

[thordon] 19/4/2022 19:49

From Simply wall ST on 19th April 2022

Stocks/United Kingdom/Diversified Financials
GUN
Gunsynd
AIM:GUN Stock Report
Add to watchlistAdd to portfolio
LAST PRICE
UK£0.008
MARKET CAP
UK£3.6m

Price to Book Ratio
0x
5x
10x
15x
20x
PB Ratio
Company 0.6x
Industry 1.3x
Market 1.7x
View Data
PB vs Industry: GUN is good value based on its PB Ratio (0.6x) compared to the GB Capital Markets industry average (1.3x).

Balance Sheet
Assets
Long term & Other Assets
UK£5.1m
Cash & ShorttermInvestments
UK£1.1m
Receivables
UK£152.0k
Inventory
UK£0
PhysicalAssets
UK£0
Liabilities + Equity
Equity
UK£6.3m

[thordon] 19/4/2022 19:44

450 Million shares issued x 00.8p = Today's value £3,600,000

Assets Held £5,993,000 assets at 31 January 2022 ( Half Year report )

Discount to NAV 60.07%

19th April 2022 - Estimate on value of Assets Held Approx on current share price of Assets - £6,250,000

[arlington chetwynd talbott] 19/4/2022 12:12

You maybe need to recalculate using the current share prices and allowing for some cash burn.

[thordon] 19/4/2022 09:49

Half Year Accounts

Finance Review
The Company's loss for the period was £310,000 (31 January 2021: £1,032,000 profit). The realised and unrealised market valuation on financial investments for the period was a loss of £56,000 (31 January 2021: £1,280,000 gain).



The Company had net assets at 31 January 2022 of £5,993,000 (31 January 2021: £4,848,000) including cash balances of £1,082,000 (31 January 2021: £1,000,000).



Today's value £3,600,000


Assets Held 5,993,000


Discount to NAV 60.07%

[donaferentes] 19/4/2022 09:08

at some stage reversion to mean will occur i.e. either share prices go up or commodity prices will fall. We believe the former is more likely than the latter.So a binary bet (sp up or commodity prices down) and a 40% discount to net asset value. A reversion to par asset value would give a 67% increase in share price to 133p. Although a pleasant enough gain in retrospect, it is certainly debatable whether that is a sufficient prospective premium for the risks involved here. But there is also the prospect of commercially profitable discoveries to come from any one investee companyWhat will trigger reversion to the mean and when?

[guy gibson] 19/4/2022 07:54

Outlook

We previously stated "Debate lingers over whether the effects are a temporary hiccup or the harbinger of structural changes. We are far from convinced that the current inflation level is just a blip, hence our positioning towards gold and copper." We stand by that. The policy response by politicians the world over to Covid has now clearly been shown to have been vastly overdone. With governments lacking the courage to curtail spending and with central banks very aware that sustained interest rate increases may well cause a recession and possibly even a sovereign debt crisis, we believe that on the balance of probabilities the base case is for inflation to remain higher than in recent years and commodity prices to remain elevated for at least the medium term if not longer. Whilst at the junior resource company level in the UK there is clearly a disconnect between commodity and share prices, history tells us that at some stage reversion to mean will occur i.e. either share prices go up or commodity prices will fall. We believe the former is more likely than the latter.

As a well known investor once said "Price is what you pay, and value is what you get".

[arlington chetwynd talbott] 19/4/2022 07:08

Nothing strange or startling.

[ged5] 18/4/2022 16:59

Thordon, you'd be best correcting your own figures first.

You've used Australian dollar bid prices and quoted the value in GBP.

You've included Empress Royalty which is no longer held and is in the cash figure so you've include it twice.

I can't understand how you got your cash figure.

There was £1071000 on 31st July. Since then they've disposed of 600000 Charger Metals for £250000 and bought 250000 shares in First Tin for £75000.

I make that £1256000 cash up to today.

I'm with Arlington on the discount. Roughly 44%-47%

But still a very big discount. And thank you once again for sharing your figures and having a discussion.

[thordon] 18/4/2022 16:37

Arlington Chetwynd Talbott please post your investment figures for GUN;

"That just doesn’t sound right. 40s at best. At least one substantial investment would need to pop to threaten a 50% discount."

look forward to your own figures

[thordon] 18/4/2022 16:37

Arlington Chetwynd Talbott please post your investment figures for GUN;

"That just doesn’t sound right. 40s at best. At least one substantial investment would need to pop to threaten a 50% discount."

look forward to your own figures

[thordon] 18/4/2022 16:36

Arlington Chetwynd Talbott please post your investment figures for GUN;

"That just doesn’t sound right. 40s at best. At least one substantial investment would need to pop to threaten a 50% discount."

look forward to your own figures

[thordon] 18/4/2022 16:36

Arlington Chetwynd Talbott please post your investment figures for GUN;

"That just doesn’t sound right. 40s at best. At least one substantial investment would need to pop to threaten a 50% discount."

look forward to your own figures

[arlington chetwynd talbott] 18/4/2022 10:53

That just doesn't sound right. 40s at best. At least one substantial investment would need to pop to threaten a 50% discount.