Hi PetrStiff,We should not be thinking about cross-border...

Hi PetrStiff,

We should not be thinking about cross-border consolidation in this region. I have talked to Chesser numerous times about this, and have followed enough other companies to see it's too complex to consider. The best example of this is Iamgold with their 'stranded' Boto Gold deposit to the south of Chesser. If cross-border was a reality, this would have been consolidated years ago with Iamgold's Mali and Guinea deposits right across the border, or sold to B2Gold to become feed for Fekola, or some other combination.

But I put a positive spin on all of this. Barrick is ONLY spending so much time in Senegal because they think there is realistic potential for a Tier 1 mine that is separate from Mali. While there might be some cost synergies with their operations in Mali, Senegal is going to get it's own plant/complex, whether it's initiated by Barrick, Chesser, or another player (like Silvercorp).

You mentioned my earlier videos in another post. Yes, I keep the new ones 'unlisted' because they are sent to my free email list. It's an incentive for people to sign-up and pay closer attention when they come out. But I am happy to re-share them when appropriate. I will post one from November 2021 that is very relevant here:



I discuss the importance of Barrick discussing Senegal/Bambadji in their quarterlies, and I touched on Iamgold/Boto as well (which may come into play at some point as part of the Senegal consolidation). BTW, Barrick has another quarterly coming out next week and we should all pay attention.

It's a long video. The most relevant section to focus on is from 2 minutes to 17 minutes in.

Lastly, I was strongly recommending Chesser when trading at ~0.14. I continued to average down in the following months, and it's a fantastic buy at this level. I saw the new Diggers presentation from Andrew Grove and he could have mentioned even more on why Chesser's ounces are more valuable than Oklo's. It's a good comparison, but Chesser's deposit has better geometry (higher grades closer to surface, lower strip ratio, etc). Senegal is a better jurisdiction than Mali. And Oklo was completely stalled on discovery, while Chesser is going to bust through 1m oz and could go much further than that (which I think Chesser still downplays, but that's ok because they want to show this is a really solid development project even if no further ounces are discovered). Oklo was a natural bolt-on for B2Gold and did a good job getting sold for a premium to where it was trading. But Chesser should be valued much higher at this very moment, and perhaps much, much higher 12-24 months from now.

Just thought I would add those comments that Chesser has been a great buy in my mind for ~9 months now. I am seeing more HotCopper activity and any new buyers of the stock are getting an especially great deal, still trading at ~0.10, but fully cashed up and so much progress from both Chesser and Barrick over this time period.

Cheers,

MBG