Morning all. Pretty quiet thread here. I do like that because it indicates that there aren't many eyes on it. That can often prove to be good opportunity to build a position. So what would attract anyone to build a position in LGM? This vid is a good listen and in particular the 22 min mark in reference to finding the best target opportunities.
If we really get serious about DD, we would employ or at least contract professionals to do the assessing that we are not equiped to do. OR we learn about the very parts that we need more info on by doing more work. If I use Bauloura as an example and an analogue to the vid above- I could find a Geo to help me understand the potential while looking at the rest of the important factors. What we have in Bauloura is the endorsement the largest gold mining company on the planet. They have paid for their professionals to do all the work for us. They also put up lots of money to do the exploration. This is the largest part of the risk in the search for a multi bagger and avoids the usual dilution by CR's. Not only that but LGM get get to direct the way that the capital is spent in the ground. I don't like selling the cow but we get a potential 30% of the prize with no spending.
We haven't done that just once either. WE now have another JV with a very experienced Dr of Geology and a multi elephant finder, Mark Bennet. This podcast is a little long but the content is worth the time. It also provides some comfort in the association of the Glenlogan project.
I usually put up material from announcements that I think need more consideration. In this post however, I would have to screen shoot most if not all of the announcement to do that. I will direct followers to the Resource Rising Stars presentation on Feb 1. Look at the job that Chris Byrne does in providing the necessary material and the way he helps the readers understand.
That presso is a must imho. We have more projects to find our own potentially multi baggers and they look just as good if not better. Why didn't the majors knock on the door for these as well? Don't think for a moment that they are not interested. Black Range has almost identical indicators that Bauloura has but it is 3x the size. The deal with Bauloura was done before they found out about Black Range and LGM want to keep Black Range, and for that I am very grateful.
I don't think it will be long before we get the news that moves the needle here. When I look around at why I want to hold the explorers knowing that they carry the largest risk, this little mc becomes very compelling.
I have acquired some, taken more in the last CR and continue to buy on market with any weekness. They continue to find very compelling projects but I really think they have enough on their plate atm but they could always do more JV's for 30%. More 30% projects just keeps building the inevitable end story success too. This is a really compelling potential growth story in the making and they continue to make the right moves imho. If not, someone better tell S2R and Newmont.
While you are at it you may want to congratulate Newcrest for dumping Black Range to concentrate on Cadia Ridgeway at the time. Don't forget to tell Whiterock Mining how lucky they are to have mismanaged the Drake (Mt Carrington) project as well as their choice of JV partner.
Oh and is anyone watching how China is buying lots of copper now, (think that has the usual pattern of buying while it's cheap and then watching the price run) or what about the price of gold and silver of late?
I will try to refrain from posting here because I am obviously using my rose coloured glasses.
Kind regards, Wack
LGM Price at posting:
15.0¢ Sentiment: Buy Disclosure: Held
(20min delay)