Ann: First month of gold production and update on activities, page-146

A couple of notes,
- i think Viper/Ntiola are currently being drilled in parallel to Koting, so we should see the result for all three by February next year
- tailings drilling looks like to have been successful i.e. comment in an interview by the Doc saying it looks to have extended the LOM from tailings until June/July probably (yet to be fully modelled out) which is good to have just in case we have any delays with bringing online the satellite pits
- dont know how i feel about the hiring spree (particularly backoffice/mangement staff), thought we should have secured the 2Moz before doing so, I mean is there really that much more admin work?
- Gas super no longer a top 20 holder, cant blame the guy been then for ages, not sure what his average was but yea can understand he would leave. Caused some downward pressure which means some cheaper shares than usual.
- Tbh not sure what to think of Mark Jones and Doug Rose on the cap table, both ex Patersons securities and are just sitting on as directors on microcap companies
- Does anyone know how much hedging costs? Just seeing how much it would cost us to lock in prices for the gold
- Lithium sentiment continues to rise, people compare us to LTR but i think LTR has the KDR effect going for it, if anything we should be looking at how AVZ is doing tbh, if they do well/secure a deal of sorts then we can use them to benchmark. Until then i dont think our lithium will move much unless we somehow do something with it.
- Definitely undervalued, as mentioned, once we validate/secure the 2Moz and have the mining plan/refurbishments implemented then its game on.
- The prospects of Morila 2.0, Koting Regional Exploration are both potential upsides in the future but we need to stabilise with what we have now and make sure we can operate profitably without the further upside of high grade exploration. It is clear that the market is not valuing us on potential upside drilling and wont until we get the first of drill results from Morila 2.0 which prob wont happen until Oct 2021 or later.
- I still have my opinion that we should be roughly $500m mkt cap by March to June, depending on when all the min resources get announced i.e. koting, new morila 1.3, new satellite pits.
- Lithium is just in the bottom drawer for me but who knows might be a nice surprise at some point.