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@wilwal What, exactly, is SWA doing on Bondi right now? Has the ownership transaction been completed yet? Their presentation is difficult to read as to what SWA is doing for exploration beyond the two JV's. The way I read it, the company itself is spending around $800,000 this year but I can't find the what or where.
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@wilwal Bondi appears to be stuck in government red tape.
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@wilwal Good news is that insiders and related parties took up half of the warrant incentive program. That is bullish for the stock. Less impressive is the fact that it is now mid April and there is no sign of Dec 31st financial filing. They normally file in less than 2 months after the quarter. This is not helpful. Investors tend to view tardiness like this as unrevealed bad news or at least poor management. SWA's accounting is extremely simple so there is no excuse for taking this long. New investors or existing investors who are looking to add need timely balance sheets to assess their investment. In the case of a tiny explorer like SWA, it is primarily the cash position that is of interest. Investors at this point will have no clue as to SWA's cash position to assess what they are capable of doing on the ground.
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@MiningBookGuy @splatapus @wilwal - well I'm glad I waited to respond, because @wilwal is helping me focus the additional details! So I had a great call with Paul Schmiede, VP Corp Dev at $SWA late last week. I have many similar concerns that @wilwal and some others have mentioned to me privately recently. I will share some notes from the call. But please keep in mind I am NOT an authority here, and anyone should consider calling the company themselves...both Andrew and Paul are excellent at explaining things directly: -there's a 'commercial' side to Bondi, and 'technical' side. On the commercial side, yes, there is and has been government red tape. Progress is being made...but I believe this is a reason some work hasn't been accelerated , and we haven't seen NRs. BUT, there is technical work being done already! There are soil surveys and geochemistry testing. There's a massive drill database being reconstructed for more confidence. I think most importantly, soil geochem results will help with targeting, and there is 'modest exploration potential' BEYOND the resource already present (which is a very good resource as previously discussed). I don't want to go into more #Bondi details (and don't have many more notes any way). But I am assured that this is moving forward. While not too much money is being spent on it this year, it's a very key asset, and I hope we see an NR soon to verify some of this info. Again, consider call the company directly for your own due diligence. I will continue with notes in the next post...
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@MiningBookGuy @splatapus @wilwal - more $SWA notes: This is not news, but very key to the understanding of what's going on: Both Andrew and Peter Spora from $ACA.L were on site in #BurkinaFaso last week. As previously noted, Peter Spora runs exploration at $ACA.L. I have been somewhat concerned about $ACA.L's current focus and moving things forward with the South Hounde JV, especially with this operational crisis in #Tanzania. I have a feel this is a strong signal that $ACA.L REALLY wants this to work out! $ACA.L needs to diversity outside of #Tanzania. Now the #SouthHoundeBelt properties might not become 'Acacia-sized'...this is to be determined based on further drilling results in 2017 and maybe 2018. But there's LOTS of activity. If anything, there might be a delay on these results because of ~600M holes that take a while, and a priority is for $ACA.L to find something deep. But there should also be results from AC drilling around this deposit...I don't know when they're coming, but I think we will see news here soon as well. And another post coming with more notes...
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@MiningBookGuy @splatapus @wilwal - more $SWA notes: I think the #Karankasso JV with $SCA will have more drill results soon as well. It's important to keep in mind there could be significant progress here. For me, #Karankasso is #3 on the list. BUT, I would love to see news flow from all 3 'main' projects within 1-2 months of each other: #Bondi, #SouthHounde, #Karankasso. I still think the market gets confused on all this, and how they interact with each other (and this is somewhat to the point of @splatapus earlier). I mean, even I felt 'a bit' concerned about coming news until I talked with Paul. But it really was a great conversation, and it's just on $SWA to get rolling with it. There are other things going on I won't comment on right now. But again, these 3 projects are the main focus. if we see 'good' news here, and THEN see some other stuff (whether it's $SWA driven or results from other companies around $SWA), it will be icing on the cake, and hopefully get the momentum going by the time we hit mid-2017.
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@MiningBookGuy btw, really good to see you posting over here @wilwal! always good to ask questions and mention concerns. I didn't think of the financial filing on SEDAR, and did notice there's not an updated on yet. I agree it's important for juniors like $SWA to be up to date on this stuff. But I follow many similar juniors, and others have been as late (or later) on their own filings. Importantly, I think this recent financing should at least confirm that dilution remained minimal, and there should be no expectation of a 'cash crisis' in the short-term. But I do hope to see a new filing soon, and more importantly, some solid news flow as I've described above. BTW, I will send you a private message here in a minute. Sorry for not getting back to you on stockhouse for a while...I'm just a lot better at communicating on ceo.ca these days!
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@MiningBookGuy RE-POST for additional tagging: Savary Gold Drilling Returns 1.95 G/T Gold Over 14 Metres and 19.91 G/T Gold Over 2 Metres both Approximately 60 Metres from Surface @thenewswire/savary-gold-drilling-returns-195-gt-gold-over-14 $SCA $SWA #gold #BurkinaFaso #drillplays ~AUfrica This is drilling for the 69.5%/30.5% $SCA (Savary) / $SWA (Sarama) #Karankasso JV
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from ~aufrica,
@marketwired Sarama Resources Reports Further Q1 2017 Drill Results for Karankasso Project in Burkina Faso @marketwired/sarama-resources-reports-further-q1-2017-drill-results $SWA
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wannabeinvestor the market says 'yawn'
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@wilwal Reasonable, but not exciting. I would have liked to have seen 20 meters over 3gr/tonne but no luck this time. Still, about 90% of holes returned significant results which is impressive. I am looking for SCA to bring home 1.5 million oz by the end of 2017. If they do, it will be the catalyst for ACA to bring all the related properties under their sphere.
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@MiningBookGuy So as @FundamentalAnalysis just mentioned, I DO like what was said in this #EuropeanGoldForum presentation for $TGZ: http://www.europeangoldforum.org/egf17/company-webcast/TGZ:CN/ powerpoint link here: http://wsw.com/webcast/egf17/tgz.to/presentationDownload.pdf There was a surprising amount of focus on #BurkinaFaso. Very good questions that started ~14 minutes in...a lot on #Banfora, #GoldenHill, #Gourma. Note that Richard Young specifically said "Golden Hill is really a gem", and it came up multiple times. Absolutely, there is a direct relation to $SWA here. I highly recommend $TGZ / #BurkinaFaso / $SWA - $SCA interested people watch this, and look for their own clues. Really good stuff! #WestAfrica ~AUfrica
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@Goldfinger Nice look at $SWA market depth on #CEOPro http://cdn.ceo.ca/1cf9ohf-SWA_level_2.png+
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@Ruffus23 Coincides with edv news of more cash/dillution? Something in works? Purely speculation. All my West Africa holdings going great today except edv and tgz.
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@Goldfinger Hey @MiningBookGuy is that you buying up all that $SWA?
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@MiningBookGuy @Excelsior RE: https://ceo.ca/~aufrica?7d211c0df867 $TGZ - thanks for posting this excellent #SeekingAlpha article from @Jayfire! Since it's already in ~AUfrica, I am compelled to quote/tag the key area that @Jayfire commented on in the middle of his article: --- "In terms of potential new discoveries (with district-scale potential), without a doubt, #GoldenHill is currently the most promising target on Teranga's radar. Golden Hill is located in the prospective #SouthHoundeBelt, which is surrounded by companies and resources such as: #Mana (Semafo; $SMF OTCPK: $SEMFF), #Yaramoko (Roxgold; $ROG OTC: $ROGFF), #Hounde (Endeavour Mining; $EDV OTCQX: $EDVMF), South Hounde (Acacia Mining; $ACA.L), South Hounde and #Karankasso [*and #Bondi ...I added this in!] (Sarama Resources; $SWA OTC: $SRMMF), and #Karankasso (Savary Gold; $SCA OTC: $SVVYF). There is a popular saying, "If you want to find gold, the best place to look for it is in places where others have previously found it." With that said, #GoldenHill is certainly located in the right address for gold prospectivity. Golden Hill was acquired along with #Banfora in the Gryphon Minerals transaction, and it is currently structured as a joint venture partnership with Boss Resouces ( $BOE.AX). Teranga has prioritized 10 targets for more advanced exploration work in 2017." --- Of course, $TGZ has great stuff going on in #Sengal, #IvoryCoast, and other parts of #BurkinaFaso as well. But in terms of near-term excitement, I completely agree with the focus on #GoldenHill as @Jayfire described so well above! ~AUfrica
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@FundamentalAnalysis @MiningBookGuy I think you can turn $SWA into a 200bagger, lets get those classic vids of yours up LOL
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@MiningBookGuy @FundamentalAnalysis - lol! i think $SWA would need a lot of help from the gold price AND exploration success to get to a ~200-bagger from the bottom...but it could happen! I actually think the best chance out there right now is $AU. I'm not sure what the 'all-time' low was...but i am seeing 0.03 CAD from a few years ago. It hit a high of about 2.03 CAD recently...so already ~67-bagger there. AND, many people smarter than I am think it could easily multi-bag from here! For the record, I own very few shares now, and took most of my ~3-4 bagger money in $AU to other places. But out of ANYTHING I follow right now, it seems like some people are betting this could be a ~1000-bagger from the bottom in this cycle...which is absolutely incredible, and I don't think anyone has really discussed that yet! We'll see soon enough if those 'gold boulders' at Risti really imply the motherlode is just a few drillholes away...
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@HHorseman Hey! I did ran correlations for some of the most watched gold companies here on CEO. I will probably add more later. http://www.thehedgelesshorseman.com/gold/look-gold-miners-correlation-numbers/ It would be interesting to run simulations to see if a low correlation portfolio would have had a better risk adjusted return than a high gold beta/ high correlation portfolio, but that is for another time. (A high correlation number between two stocks imply that they move very much in tandem and vice versa). I personally own quite a few stocks that seemed to have low correlation with GDX/GDXJ... My portfolio did not keep up with the Q1 rally in the mining indices. Since then I have added a small position in 3x Bull/Bear GDX depending on where I think we are in the intermediate cycle. This has worked out pretty well so far, since my core portfolio (100% long) was up the last couple of days while my 3x BEAR GDXJ/GDXJ ETF' also showed profit. Anyway, do not read too much into these correlations IMHO for the reasons specified in the post, but it may be a tool to lower portfolio volatility. $SSP $NVO $ORG $SWA $GQC $IDM $SBB $CNL #Gold
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@Excelsior @FundamentalAnalysis - thanks for the fundamental analysis (nice). I've been debating it $ASO as a contrarian play, but really I'm getting over-exposed to #WestAfrica with positions in $TGZ $HUM.L $AVK $SWA and recently I've decided to give $ORE a go (since everyone else left them for dead and they've continually tried to dig out of the hole created by the resource estimate blunder). Yes, $SBB (IF) they get the permit has takeover written all over it, and they have a royalty while we wait.  @Jayfire - Haha! Yes, good $MARL analogy. A nice 60% premium on $HUM.L and I'll double down on $AVK :-)
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@FundamentalAnalysis @Jayfire @Excelsior Me three re:West Africa. $AVK $HUM.L $TGZ $SWA I was tempted with $SMF as well but I'll see how far low that goes....but $SMF is absolutely loaded with cash....$280mUSD and only $60M USD in debt
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@FundamentalAnalysis @Excelsior Yeh its funny same companies although $swa I stole from @miningbookguy.
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@Excelsior @FundamentalAnalysis - Me too. I watched the $SWA #Video @MiningBookGuy made twice, spent some time on their site, got enthralled looking at #maps of the #Hounde Belt, and thought, an eventual consolidation in that area does make sense. I share his enthusiasm for $TGZ at Golden Hill, and that $ROG $EDV and $SMF and maybe even $ACA.L may have a go at $SWA or $SCA Considering all the mergers and #takeover deals we've seen in w. Africa like True Gold getting gobbled up by Endeavour, Amara getting acquired by Perseus, Gryphon getting nabbed by Teranga, and Merrex getting acquired by IAMGOlD, then more acquisitions seem quite likely. I also thought, @MiningBookGuy if you feel that strongly about it, and it as one of your top positions, then OK OK - Geesh - I'll get some.... :-) #FOMO (you got me haha!) As mentioned above, I felt over-exposed to the #developers and wanted a good #Exploration play in #WestAfrica. I'd been looking at $CDV.AX Cardinal Resources and few others since my Gryphon shares got gobbled up by Teranga, so Sarama Resources fit the bill nicely.
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@FundamentalAnalysis @Excelsior yup did the same haha......managed to grab a few shares during that extreme crashdown to 14c I believe it hit at one point. I thought it would need to practically triple to get back to where it was so risk/reward looked good, had enough money, had ounces in the ground, big inside ownership, and @miningbookguy was obsessed so a good recipe. $SWA
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@Excelsior @Onlyflaws - Yes, I stand corrected on the Corcoran property for $RCG. I was cutting and pasting a quick blurb on their projects, and forgot they sold that silver project last month to fund the capital needed for producing at Dufferin, but they also have done work moving forward at West Dufferin, Tangier, and Forest Hill. I'm curious if they are going to get these prior producing assets up and running, get some revenues and cash flows coming in and then grow through more acquisitions? @FundamentalAnalysis - good thoughts over several posts, and I'm glad it wasn't just me that was swayed by @MiningBookGuy's #JediAnalysis and conviction of $SWA. I watched a video with @TheNextBigRush last night, and Fabi said Sarama is one she is considering as well. @MiningBookGuy should get them to become a sponsor of their YouTube videos (have them throw in a few cameras, sound boards, etc.... and Sponsor the #MBGTRENDS Annual Convention :-)
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@MiningBookGuy @Excelsior @FundamentalAnalysis @Jayfire - great #Africa #WestAfrica chat you're having in #mbgtrends, worthy of ~AUfrica. i'm posting in that panel, with the following link to roughly where the chat begins, if others haven't seen it and want to follow: https://ceo.ca/mbgtrends?72e1111327ad LOL, and you are too kind with $SWA comments! My only concern with $SWA right now is news flow...maybe this complaint is a sign that it's just around the corner. But I really think there should have been 'something' besides $SCA #Karankasso news so far (which is managed by $SCA anyway). I'm sure other $SWA shareholders feel the same way...and this is a general complaint, as I have other holdings with similar issues (I'm looking at you $AQI.AX! even though they did just have a quarterly update last night) #mbgtrends
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@HHorseman Btw, I put up my Watchlist sheet from google docs on the site. It's a bit crammed but one can use the scroll at the bottom. It's still not 100% complete but at least the fully diluted market caps should be up to date for most. A way to compare some companies if nothing else. Some resources may be off etc but don't hesitate to PM me if you see something that is wrong! http://www.thehedgelesshorseman.com/watchlist/ $SSP $GQC $ORG $SSS $GUG $GRG $KTN $DV $NVO $RCG $BGM $SSV $SWA $BCM $CSR $CDB $AUU $R $AAN $NHK $SGX $BBB $CNX etc etc #Gold #Silver Disclaimer: I don't own all, but have at least owned most of them at some point.
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@Excelsior @FundamentalAnalysis - agreed on both points, and I see $SMF $RSG.AX and $TGZ as being wild card accumulators racing against $EDV and $ACA.L (and also $BTO) $IAG is another player, but they just acquired $MXI and have their hands full. $PRU has been flat-lined but also busy with their acquisition of Amara. $ROG is out there and could either be acquired or start acquiring and the same thing for $AKG. Will they eat or get eaten? #WestAfrica A few #MiningSnacks they all may want to fight over $AVK $HUM.L $WAF $SWA $SCA $NXS $CDV.AX ~AUfrica #mbgtrends
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@enviro111 If I were $EDV I would look at $SMF as a takeover. The stock has gotten real cheep as a result of the $GDXJ FARCE. They are the best of the bunch by far. A market cap of $US700 million. Net cash of $US250 million and free cash flow of $US60 million/yr. $TGZ is the second best. It is cheap too due to the $GDXJ FARCE. $250US million mCAP, and 80 millionnet cash. No free cash low, though. $AKG has a $US 450 million Mcap, no net cash and low margins. I think it is higher priced because it has a US ticker symbol? $ROXG has a $US450 mCAP, 10 million net cash but no free cash flow. High margins and good grades. The rest are development scenarios. I think $swa is better than $SCA. $AVK is interesting. These might be targets of $SMF when its stock recovers. I cannot comment on $RSG.AX. I avoiding $PRU.
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@marketwired Sarama Resources Reports Final Q1 2017 Drill Results for Karankasso Project in Burkina Faso @marketwired/sarama-resources-reports-final-q1-2017-drill-results $SWA #news/mining
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@Excelsior @Brendan - Agreed on the share buyback. It would be helpful longer term, but I also wouldn't be offended if they made an offer on $SWA or $SCA to compliment their #GoldenHill property in the #SouthHounde belt. Also, since $EDV didn't merge with $ACA.L then you never know.... they may make a move on $TGZ while it is on clearance sale, after their share consolidation.
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@Amicus $SWA going to .16
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@MiningBookGuy @Amicus - for $SWA, are you expecting that based on technicals? or just pure intuition?
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@Amicus Technicals only @MiningBookGuy. It should bounce right after .16ish Gonna buy more if it does.
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@MiningBookGuy interesting, thanks @Amicus
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@marketwired Sarama Resources Increases Exploration Interests in the Hounde Belt, Burkina Faso @marketwired/sarama-resources-increases-exploration-interests-in $SWA #news/mining
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@MiningBookGuy only around for a few more minutes. But I LOVE what this new $SWA NR means for the company strategically. The first image ( http://www.marketwire.com/library/MwGo/2017/5/15/11G138836/Images/News_Release_20170515_-_Figure_1-68a54c64a5199466a207b1e5ee23e518.jpg+ , from bottom of NR) is crucial for understanding the following: - There are now FOUR, 100% owned properties surrounding #GoldenHill for $TGZ ( #Bondi + the #ThreeBee properties announced in this NR). - It's very clear that IF further discoveries are made at #GoldenHill, $TGZ is going to have to 'do something' with $SWA (ie. strategic investment, takeout, etc.) - $SWA has A LOT of opportunity for further exploration potential here. Unfortunately, rainy season is coming soon. But I think this solidies the combination of #consolidation / #exploration as value drivers for the company - $SCA (Savary) has nothing to do with all of these new properties. #Karankasso is very important to both companies...but this further emphasizes how strategic #Bondi was in the first place, with this #ThreeBee announcements - And as part of the #ThreeBee, #Botoro (the new one) is especially key, as it's adjacent to #SouthHounde, the #1 property for $SWA that $ACA.L is earning-into at the moment. This further emphasizes the possibility of a bidding war between $ACA.L and $TGZ (let alone other players, because $SMF is in this mix and perhaps purposefully not included in the map), if ANY major further #exploration is achieved. BOTTOM LINE: I think announcements have been slower than expected for $SWA. But this is a BIG one, and I look forward to progress in this area. (*Disclosure - I am a very biased shareholder of $SWA & $TGZ, with a small position in $SCA as well) #BurkinaFaso #SouthHoundeBelt #HoundeBelt ~AUfrica #index @marketwired/sarama-resources-increases-exploration-interests-in
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@enviro111 [@engineer] if it matters here's mine. I never hold more than 10% in any one. $cgp, $TV, $TK, $BTR, $SWA, $TNY, $VTT, $TGZ, $MOZ, $SMF and $RZZ. Ive sold $GSV, $MARL, $COR, $GBTC and $eMC. I'll confess the stinkers are $SMF and $TGZ. Currently, I got lots of dry powder (1/2 of the portfolio is cash). Maybe should deploy some of it?
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@MiningBookGuy More $SWA / Sarama NR comments: I'm on the $SWA email list, and just got a link to the in-house NR: http://saramaresources.com/getattachment/e9abda1b-9066-4424-a612-80df846a5ce3/Sarama-Resources-Increases-Exploration-Interests-I.aspx Same content as yesterday, but it's MUCH easier to browse the images at the bottom. So make sure to scan this if you're interested in $SWA. And here are some additional useful comments from Andrew Dinning in the email that was sent out: [This acquisition is in line with Sarama's strategy to diversify and materially increase its holdings in the southern part of the prolific Houndé Belt, positioning the Company to play a key role in the development of the area. Strategically, the addition of Botoro allows Sarama to establish a third project area that is independent of the Karankasso and South Houndé Projects, while still leaving open the option to provide feed to a regional processing facility located at the South Houndé project.] This might not sound like much. But in terms of #strategy, I can't think of a better decision at this time. #ThreeBee project and #Bondi deposit are key 100% owned projects/assets that can be useful for many future paths. This builds on $SWA #optionality (different from the way the 'optionality' term has been used by others, but that's what it is). It improves $SWA risk/reward at these price levels. Now the big question is how much news (and how quickly) they can follow-up on this! (and that remains to be seen). #SouthHoundeBelt #HoundeBelt #BurkinaFaso
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@MiningBookGuy SWA adds more land in Burkina Faso http://www.redcloudks.com/rcks-talk/swa-adds-more-land-in-burkina-faso $SWA #gold #BurkinaFaso #RedCloud #KlondikeStrike Partial Quote: "Sarama currently trades at C$13/oz, a steep discount to peers at C$40/oz. We expect that the ongoing exploration at #SouthHounde (50% interest) and #Karankasso (30.5% interest), along with likely work at its #ThreeBee project (100% interest), may provide the necessary catalysts for the stock to close the valuation gap to peers."
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@Goldfinger $SWA has put together a truly impressive property package. I believe the 'steep discount' to peers has to do with the fact the company seems to struggle in the promotional department. When I spoke with CEO Andrew Dinning in February in Florida it was clear to me he is managing for the long term and Sarama has solid financial backing which makes promoting a bit less urgent for them. In the meantime SWA shareholders wait patiently for a larger discovery. @MiningBookGuy $gold
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@Ruffus23 Crazy deal! Why didn't tgz purchase this land?
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@Jayfire @MiningBookGuy Interesting thought on promotions and whether or not they HAVE to be paid for. I think we all just naturally assume that since that's the way things have been done, or so conventional wisdom would have you to believe. Actually, come to think of it, ppl like YOU, CEO.CA are the #disruption with your YouTube videos and #mbgtrends channel. I think most ppl on here probably weren't even aware of $SWA until your brought it up to their attention and defended your investment thesis with actual fundamentals. And that's something I think we all appreciate on here; I know I certainly do. Here's someone who has done a ton of research, is sharing an idea, and yes has an incentive to see the company/stock do well for monetary reasons, but is STILL on the same level playing field as everyone else putting his own money where his mouth is... risking his own capital buying/selling shares on the open market like your typical retail investor does... That is certainly a refreshing approach and one that I respect a whole lot. Kudos to u, you're a pioneer in the space.
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@MiningBookGuy @Jayfire - thanks! lol, i don't want to use #mbgtrends 'too much' for my OWN promotions...but always appreciate kind words, and these ones are especially kind! :D And yes, barely anyone even wanted to talk about $SWA NRs for roughly the first 6 months I was posting at CEO.CA (from Sept 2016 - March 2017). And before then, $SWA had some nice NRs that NO one mentioned at all (when I was just a CEO.CA #lurker and there wasn't a developed newsfeed), and not a single share would trade on those NRs! Boy, those were the days...
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@wilwal Why would they leave the terms of the purchase off the news release? What is the expected closing date? This is a bit strange.
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@MiningBookGuy @wilwal RE: $SWA purchase - good point, and i'm not sure why this was left off, since far more details were provided on the #Bondi purchase last year. I just checked the recent MDA for $SWA, and still didn't find anything. i'll try to remember to ask next time I call on the company. For clarification for others, the only 'new' property within the #ThreeBee project is #Botoro.
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@wilwal Thanks MBG. That is usually one of the first things I look for in an acquisition. In this case, it gives us an insight into what the seller thinks it is worth. Of course a stranded property is worth a lot less to a seller than a buyer who is bringing it into a cluster of properties. Regardless, I would certainly like to know what they are paying for it.
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@wannabeinvestor These African gold stocks sure are not popular right now despite newsflow. $SWA $TGZ $SMF
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@FundamentalAnalysis @wannabeinvestor lol, I think not popular may be an understatement for some of those..... $TGZ is becoming funny....if it continues its smashdown towards 2015/2016 lows, I think I would have witnessed the greatest comedy on earth.
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@fbx258 $rsg $tgz $pru $smf taking a belting .... Got some more orders for Sarama awaiting them to get filled. Hoping it retests 15c CAD
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