Andrada Mining acquisition elevates the miner to emerging mid-tier status. Watch the video here.
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We have millions of millions of dollars worth of Gold under our companies feet. We have a reducing water level giving us access to this gold. A concentrator unit and tens of millions of pounds worth of infrastructure purchased with our money. No outstanding legal cases, easy access to 2.3million tons of ore with upwards of 0.7gpt, happy workforce with a very nice bonus scheme in place for December, a board who have on the face of it some very good skills in the mining industry. OK, we may have approx $10m worth of outstanding loans and notes, but who wouldnt pay that for the potential we have in front of us. Personally $30 - 40m is a good opening valuation until we see the returns from our recent purchase. If this works, well, work it out for yourselves. Keep on enjoying the ride! DYOR
Nothing yet - I left a message on his work ansaphone too. As we are so close to September, I will let them get on with this work and see what is on offer when the news breaks. We have had some good and great news over the past few months, lets hope this translates into actual valuation for our company, its going to make interesting reading when the RNS comes out.
As previously reported down to 205.84m (on 21st August ) and just as it gets interesting system now reporting "unable to upload data". In the week up to 21/8/17 the level fell 9m. The level this time last year was 151.50.
No worries TC - I had taken your comments as intended. I'm more than happy for the Market Cap to go to £40M. The figure from 2014 was with underground mining restricted as it would currently be but they also had the PUNO case hanging over them. We are in a better position now with the exception of cashflow (that we know of). Plenty of positives to look forward to and the BOD seem to have been fighting hard to get us through the last year or so.
There seems to be no stopping the gold price now.. i know it's early days but could it be on Bitcoin's trajectory? Many analysts think gold is hugely under-valued. All things being equal crnd with its massive gold reserves and infrastructure in place should be poised to benefit greatly. Time to shine crnd!!
Glib, your posts are always informative and i enjoy reading them, so rest assured mh previous post was only a corrction prompt and nothing more. I really do hope for all (especially us long termers) that crnd get their skates on with their communication. I don't know why, but im getting a strong feeling (not dreaming) that maybe, just maybe we get news of an offer whilst we'r still suspended. I really do pray and hope my feeling turns into reality. GLA.
Happy to stand corrected on that TC, but I was using data from the London Stock Exchange. Http://www.londonstockexchange.com/statistics/historic/company-files/company-files.htm It may have been 40p on a specific day, but the data I used seems have been at the end of the month. The market capitalisation data should read £ not $. It is just the cash position that was $. One thing to note about my SP estimate - this does not include the underground mining. If that was to restart and the concentrator could increase that yield by 300%, then it is a very different story. I do not think underground mining will restart until after the concentrator circuit has been trialed and the water level is shown to be sustainable during the rainy season. The concentrator in lab trials indicated that the waste dump material with average gold grade of 0.7g/t could be upgraded to between 2.5g/t - 5g/t. Not sure if this means that the underground grades would be increased by this factor, but the SP will take off if that is the case.
Gibbo, have you received any communication from Simon?
If all works out in our favour im more inclined to go with Gibbo's calcs of $30-$40m.
Glib, "The MOU announcement pushed this to $14M initially before falling back to around $11M". Actually the sp was hovering around 40p when ghe MOU's were announced in Nov 2014 and at the time there were approx 96M shares in circulation, therefore the MOU's pushed crnd into the region of £40m ($60m) and not as your figures suggests.
That's a tough one as we have no facts to speculate on growth or earnings. If the debt has been reduced and the concentrator circuit is effective then although we are not doing any underground mining, we do have the tolling agreements and have bought material ourselves to process. I believe the market capitalisation could be a little under what it was after the MOU's were withdrawn and before the Bergen financing was announced. Lets say £2.5M. Currently there are 239,833,285 shares so a unit price by the end of the year of 1p ? I would like to suggest it will be higher, but there was a reason we suspended in May - we are struggling with cashflow. If the situation has improved then I would upgrade that estimate. Longer term if we get through the rainy season without going back under water then this should rerate as long as funds continue to be available. I am hoping that the concentrator circuit will do that for us. In July 2014 the water level was 165mbs so we have already passed this level and the MOU's started a few months later in November. The company had limited mining operations to 100-160mbs and had net cash of $4.39M - the market cap was around $7.5M. The MOU announcement pushed this to $14M initially before falling back to around $11M. My target if all goes well would be 3p in the next 2 years as we have the water level reducing and the extra tolling material to put through the concentrator. I would still not be at break even, but if the water level continued to drop and we stabilised the company, then I would imagine the SP would continue to rise.
Just popped $1300
30p and I will be breaking even
what is yours? well i will be honest anything over 10p will do me.
I guess the SP when we begin trading again will be based mainly on the results of what we have produced in the last year and what we have spent our money on. How much have we reduced our debts by and does this make us a more attractive takeover prospect? If no takeover, what are the companies prospects? We would need to do projections based on income expenditure and how much cashflow there is. Also costings to restart underground mining but I think this may be put off until there is certainty about the sustainability of the water level. We can focus until then on how the concentrator circuit is performing and any impact this will have on our valuation and earnings.
Will our patience finally pay off? I certainly think so good luck to all long term holders.
Totally agree Gibbo1066. Fingers crossed CRND has finally turned a corner & is building a profitable business which can self fund the re-commencement of underground mining. All the years of things going against us, continued shareprice falls, Puno case drawn out, loss of mining license, numerous new equity issues & subsequent dilution, no Chinese takeover etc will hopefully be worth all the years of pain & disappointment.
More good news, 20mbs below where CRND stated they would consider the resumption of underground mining. has Midus returned to CRND? September cant come quickly enough, can our board turn this plethora of good news into share value? So many questions and I am looking forward to the answers.
now down to 205mbs
I believe if/when this share starts trading again that if they state underground mining has restarted that the share price could go upto near 10p, and then hopefully our Chinese friends will become interested once more as we would be in a better position than previously
0.2?
I agree likewise with myself.There P&p is a tenth of CRND thus we should be worth more after all Johan spent $70 million on R&D
its just a bit of fun, dont take it too seriously!