The risk reward here for a bag is about as safe as you could get...

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29/04/15

17:59

Post #: 15183108
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Originally posted by risk41 ↑

After being in and out of this one multiple times over the years (and costing me every exit) I never thought Id be back, but the figures are looking too good to ignore at the moment.

$13.68M market cap

As at 30/3 - $26M cash and bullion
Liabilities- $9.9M provisions- mainly related to redundancies

$16M net asset with $10M generated March 1/4

How much can be generated this quarter?

Other liabilites of$5.7M -rehab provsions for Kangaroo flat/Dargues?? + $3.4M for Henty covered by $9.5M cash backed bonds.

Now new partner in Henty to take 50% by offering $5M of drilling. which is a win win. If life of mine can be extended by 1yr + possibility to generate more than its current market cap by that alone.Plus $1.7M of rehab bond released to UML.There was no movement on this announcement. Maybe because Liongold have been selling down to 0% as they are cash strapped. If so there cant be too much left to sell.

If Cynaide leaching is approved at Dargues on site does that mean its 600 KT/year gravity and CIL gold plant will be moved there? Either way it looks like huge potential to sell or turn into a mine.

I hope this is not like getting back with an ex girlfriend. It never works.

Management if you can triple or better my funds from here I forgive your past ways.

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The risk reward here for a bag is about as safe as you could get imo.

Some of your numbers are a bit off in places, but they are chucking off cash - another month already gone and perhaps up to 25% of market cap made in net cash.

And remember the new deal for 50% is AFTER current reserves. So I see that as just a bonus for extra $5m drilling.

Next quarterly should put rocket up it surely.

I am expecting + 6-7m cash (50% of current cap).

Craazzzyyyyy

UML Price at posting: 1.2¢ Sentiment: Buy Disclosure: Held
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The risk reward here for a bag is about as safe as you could get...

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