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2.5¢ savannah goldfields limited

Ann: First Gold Pour from Agate Creek Gold Project, page-51

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2 Posts.

24/04/19

13:46

Post #: 38253017
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Originally posted by zdog13: ↑

I have held this stock for a long time. Comments about management earlier I can’t quite shake. I believe they were/have been very remiss in comms.

All boxes have been ticked and mining is underway. This is a plus for accountant types. They have arranged an agreement in which they do none of the heavy lifting and still get a money in the door provided the grade is sufficient.

I note that the upgrade in drill results were only announced after all native title and landholder agreeements were finalised using much lower grades. Call me what you want but I see this is being very astute. None of us know the agreeements but I hope that directors are looking after themselves because that will mean they are looking after me.

So I come to the actual results. 15g/t - the directors surely picked some good areas to start. Why would you not! Get as much money in the door early. Why leave it in the ground!

Maroon took a week to extract 1300T of the 100k T in the agreement. At that rate they have about 70 weeks to mine. Let’s call that 2 years for wet seasons etc

I haven’t don’t drill hole calculations I know there are some very impressive grades. So I’m going to go conservative based on current wash up. I’m going to assume 7.5g/t for the rest

7.5 - 3.5 = 4g x 0.6 = 2.6g x 98,700 = 250k grams total

That equates to about 9000oz x $1800 is $16M in 2 years.

This is only part of Sherwood resource that has approval to mine.

At a market CAP of $50M a PE of 10 mean the MC should be around $80M (circa 2c)

I for one will be watching the upcoming pours, the achieved grades and hopefully the SP. however in order to do that management need to keep up the levels of recent communication and not slip back into old ways.

I agree this is still a spec stock - however one that is mining and has less risk than most. If the grades are tighter than 7.5g/t I see nothing but upside. Lower then we probably can not sustain the appreciation that all would like to see in the SP.

It’s a fine line, mine the high grade now to get mo way in the door at no cost, or mine just enough to retain as much of the 40% later as possible. This is where i see the benefit of having the bean counters in place. If they look after themselves in the long term, they will also be looking after me!

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I appreciate the insight and comments zDog13.

I have also appreciated the valuable comments from other posters to this forum - e.g. Towie and Docmin24.

Thanks people.

My opinion has not changed about the speculative nature of this stock. If something comes of it in the long run then brilliant - if not, I have not lost any sleep.

The years of ongoing and rampant dilution has been a bit 'annoying' but hey, I am assuming someone knows what they are doing! There are better 'brains' out there than me keeping an eye on this one assuming that in time there may be an EPS aspect in the 'not-too-distant' future to be concerned about.

LNY Price at posting: 1.3¢ Sentiment: Hold Disclosure: Held
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Last 2.5¢		Change -0.007(21.9%)		Mkt cap ! $7.027M

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Ann: First Gold Pour from Agate Creek Gold Project, page-51

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Ann: First Gold Pour from Agate Creek Gold Project, page-51

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