# AAU - Antilles Gold



## So_Cynical (26 September 2011)

PanTerra Gold (PGI) is the new name of Envirogold (EVG). Previous discussion on EVG can be found here: https://www.aussiestockforums.com/forums/showthread.php?t=7127

--------------------------

Here's a presentation that was released in Mid September 2011, pretty much spells out where management wants to take the company and explains the new focus on South/Latin America.

http://envirogold.links.com.au/userfiles/file/news/2011_09_19 Presentation to European Investors.pdf


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## mr. jeff (19 October 2011)

announcement in late September worth noting:


"ASX / Media Release
27 September 2011
PANTERRA GOLD’S PROJECTED CASH GENERATION FROM
DOMINICAN PROJECT PARTICULARLY STRONG DESPITE LOWER
GOLD AND SILVER PRICES
Latin American focussed mineral resources company,
(PanTerra Gold or the “Company
of its processing plant for the Las Lagunas gold and silver project in the Dominican Republic is progressing well and scheduled for completion.
 Despite recent falls in gold and silver prices, the Dominican project is expected to generate over US$85 million of free cash flow between the first gold pour in March/April 2012 and the end of 2013."

Costs expected to be around US$312/oz.

Could be really interesting, no price action yet.


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## Sean K (24 October 2011)

mr. jeff said:


> announcement in late September worth noting:
> 
> 
> "ASX / Media Release
> ...



Yep, interesting. If the Albion Technology does work to plan then the Dominican project will make some pretty handy cash. Looking forward to seeing the first results.

I'm not quite sure how they are getting away with the projected Ecuador numbers. They are no where near even a JORC and they are reporting cash flows??


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## Wombus (24 October 2011)

kennas said:


> I'm not quite sure how they are getting away with the projected Ecuador numbers. They are no where near even a JORC and they are reporting cash flows??




The reason is that the 'ore body' is high grade tailings. Given the previous mining/processing that has gone on there they know a) the tonnage of tailings there, and b) the expected concentration of gold (to quite narrow tolerances)

They would then need very little drilling/assay results to confirm this information and thus develop a resource.


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## Sean K (25 October 2011)

Wombus said:


> The reason is that the 'ore body' is high grade tailings. Given the previous mining/processing that has gone on there they know a) the tonnage of tailings there, and b) the expected concentration of gold (to quite narrow tolerances)
> 
> They would then need very little drilling/assay results to confirm this information and thus develop a resource.



Is that Ecuador, or the DR? I thought Ecuador was about the old workings and a feasibility done by the previous owners after a few rock chips and exploration holes.


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## Wombus (25 October 2011)

kennas said:


> Is that Ecuador, or the DR? I thought Ecuador was about the old workings and a feasibility done by the previous owners after a few rock chips and exploration holes.




Sorry, you are right. When I read excited about cash-flow, I just assumed it was talking about Dominican Republic and Las Lagunas.

Ecuador (the Azuay project) is purely in scoping study phase, they never claimed a JORC resource, but they are estimating what could be achievable from what they 'know' about the region.


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## mr. jeff (3 April 2012)

Movement with volume coming in. Not proven sustained yet, but watching now.





You can see that since the renaming from Envirogold, price action has moved favourably, yet slowly, however with production nearing and low recovery costs, it is perhaps becoming attractive. 

I have also noted some small gold stock movement up with volume which may finally signal a turn around to the strong selling over the past months which have seen MC's come back to attractive levels. Whatever that means - but they are a lot less than before!

Noting stocks such as SLR, NMG, NST.


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## Starcraftmazter (3 April 2012)

mr. jeff said:


> Noting stocks such as SLR, NMG, NST.




Aye I'm holding NST currently, this one looks pretty damn good. Will look for a pullback,  though I'm not sure if there will be enough sellers for it. Give it until the end of the week maybe to see what's going on.


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## So_Cynical (3 April 2012)

mr. jeff said:


> You can see that since the renaming from Envirogold, price action has moved favourably, yet slowly, however with production nearing and low recovery costs, *it is perhaps becoming attractive*.




Becoming attractive at 20c a share... personally i thought it looked pretty darn attractive at 4c per share a couple of years ago. 

With the Novus take over completed they have some more ground in DR and the recent positive tax ruling is also a new positive, first pour getting closer....i really want 25 CPS for this and believe ill get it next FY as long as POG holds up.


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## Sean K (3 April 2012)

Sorry, been  out of the office and haven't checked but is the DR plant actually producing anything yet? Does the new technology bring up gold economically here?


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## So_Cynical (3 April 2012)

kennas said:


> Sorry, been  out of the office and haven't checked but is the DR plant actually producing anything yet? Does the new technology bring up gold economically here?




They released an investor presentation in late March.

http://www.asx.com.au/asxpdf/20120328/pdf/4259jp40w74l8h.pdf

Gold due to start flowing in May...ore stockpiling has begun, plant commissioning under-way.
~


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## So_Cynical (23 April 2012)

Over 4 years in the making...the worlds first Albion plant...aint she pretty.  soon to be producing gold and silver for a cash cost of less than 340 USD an Ounce (Au equivalent)....sweet.

http://www.asx.com.au/asxpdf/20120423/pdf/425rxvll7y6dbj.pdf
~


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## Sean K (25 April 2012)

So_Cynical said:


> Over 4 years in the making...the worlds first Albion plant...aint she pretty.  soon to be producing gold and silver for a cash cost of less than 340 USD an Ounce (Au equivalent)....sweet.
> ~



Looks very nice.

When's the first pour?

$340 an ounce will be an amazing achievement.Wasn't it a bit less than that not long ago?


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## Sean K (19 May 2012)

Should get the first months production update shortly. No update on progress so assume all going to plan. Will be extremely interesting to see how she operates.



> First ore throughput is scheduled for week commencing 7 May 2012.


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## So_Cynical (19 May 2012)

PGI trading at 12.5 cents last week...a very very tempting entry point one would think, considering the trading range top of 21 cents and all the fundamental positives.

POG looks to be consolidating now, the world is ending for the 4rd or 5th time since 2008


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## Sean K (2 June 2012)

So_Cynical said:


> Gold due to start flowing in May...ore stockpiling has begun, plant commissioning under-way.
> ~




Yes, from a presentation in April:



> Las Lagunas project scheduled to start production and generate positive cash flow May 2012




"positive cash flow"

However, did I read that their plan was to make some sort of silver/gold giant ingots that had to be sent to Europe to be further refined, or something?

Sounded mighty bizaar to me.


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## Sean K (14 June 2012)

At last report all was going swimmingly for PGI with no known impediments to the first dore pour. (not gold as we've expected but something that needs to be refined in Europe)

Suddenly, something didn't turn up, that seems to be important.

￼







> UPDATE ON OPERATION OF ALBION/CIL PROCESSING PLANT, LAS LAGUNAS GOLD & SILVER PROJECT, DOMINICAN REPUBLIC
> 
> PanTerra Gold Limited (ASX: PGI) (PanTerra Gold or the “Company”), advises that its Albion/CIL processing plant at Las Lagunas in the Dominican Republic has been functioning as expected since commencement on 23 May 2012, but operations have been temporarily suspended while improvements are made to the rate and density of feed to the plant.
> 
> ...



Surely they knew this would be an issue? 

First major *X*


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## Sean K (19 June 2012)

With all the promises of 'production' they're still off the mark.

Todays ann after explaining the delay:



> In the following week, the CIL circuit should be fully loaded and nearing gold and silver production.


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## Sean K (28 June 2012)

Encouraging that they're providing regular updates now and it looks back on track.



> ASX/Media Release
> 26 June 2012
> 
> ￼￼￼UPDATE ON OPERATION OF ALBION/CIL PROCESSING PLANT, LAS LAGUNAS GOLD AND SILVER PROJECT, DOMINICAN REPUBLIC
> ...


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## So_Cynical (28 June 2012)

Here is a little 8 page presentation of what the DR operation looks like...lots a pictures.

http://www.panterragold.com/userfiles/file/news/26_6_2012 LL project update Albion CIL.pdf


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## Sean K (28 June 2012)

So_Cynical said:


> Here is a little 8 page presentation of what the DR operation looks like...lots a pictures.
> 
> http://www.panterragold.com/userfiles/file/news/26_6_2012 LL project update Albion CIL.pdf



SC, I'm a cynic at heart, and I just don't trust the Albion technology. I don't because if it was so good, then every man and his dog would have bought it and been treating all the bad bad refractory ore that just gets left behind and turning it into gold. If this system was so good, why isn't BHP applying it on decent scales on their A1 tailings throughout the world? Anyway, that's why I come to this stock with some sense of caution. The Albion Plant is yet to be proven on this project. I think if it is, it will literally turn turds into gold. 

Having said that, how much is factored in to the SP?

What's the upside?


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## So_Cynical (28 June 2012)

kennas said:


> SC, I'm a cynic at heart, and I just don't trust the Albion technology. I don't because if it was so good, then every man and his dog would have bought it and been treating all the bad bad refractory ore that just gets left behind and turning it into gold. If this system was so good, why isn't BHP applying it on decent scales on their A1 tailings throughout the world? Anyway, that's why I come to this stock with some sense of caution. The Albion Plant is yet to be proven on this project. I think if it is, it will literally turn turds into gold.
> 
> *Having said that, how much is factored in to the SP?
> 
> What's the upside?*




I was always a believer in the technology because it was fairly simple and the ore had been tested in the Demonstration plant..so i knew it worked, i suppose what we are about to find out is will it work consistently and will it work (the plant) at designed throughput, thus are the projected numbers fair dinkum?

_How much is factored in to the SP?_ 

jeez i imagine that the demonstration plant announcements that i read 3-4 years ago are still available on-line, and considering that PGI is such a small cap and first pour/Albion/Dominican Republic and all. :dunno:

_What's the upside?_

My personal target has always been 23 cents, that was going to be sell territory for me and still is...PGI is my only Gold stock now and was held as a sort of GFC 2/3 insurance...im ready to cash in the policy.


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## Sean K (3 July 2012)

Good, they're updating often during this phase. Sounds like it's going to plan, but until they give the actual cost per ounce, I'll remain on the fence.

If it goes to plan at the estimated cost I think your price target is very conservative. 



> 3 July 2012
> 
> ￼￼￼ALBION OXIDATION PROCESS FUNCTIONING TO EXPECTATION LAS LAGUNAS GOLD AND SILVER PROJECT, DOMINICAN REPUBLIC
> 
> ...



And interesting comments from Brian saying how 'extremely difficult' the project has been. I can't remember him telling us how hard it all was before, I guess we had to just read into it.


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## Sean K (3 July 2012)

Good article on Kitco today explaining the project. 

I can't paste in the link as I'm on an iPad, but if you go to Kitco it's in the news. 

Perhaps you can paste it in SC.


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## Sean K (23 July 2012)

Positive update but mention of another delay.

I'm still on the fence until they put a $$ on cost per ounce which may take a while. 

I suppose by that time the word will be well out and potential stag gains will have evaporated. 



> ASX/Media Release
> 23 July 2012
> 
> ￼￼￼UPDATE, LAS LAGUNAS PROJECT, DOMINICAN REPUBLIC
> ...


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## Sean K (26 July 2012)

First pour announced but I have a question for Brian

Brian, what are the actual recovery rates compared to the pilot test work and why haven't you detailed this material piece of information?' 



> FIRST GOLD POUR, LAS LAGUNAS PROJECT, DOMINICAN REPUBLIC
> 
> PanTerra Gold Limited (ASX: PGI) (PanTerra Gold or the “Company”), advises that its Las Lagunas project in the Dominican Republic has poured its first gold/silver dorÃ©.
> 
> ...


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## mr. jeff (17 August 2012)

They're getting there with production - teething issues only or are they designed in ? 

"_Sydney - Wednesday - August 15: (RWE Australian Business News) - PanTerra Gold (PGI) production of gold/silver dore bars is progressively increasing as ramp-up continues at the Las Lagunas project in the Dominican Republic.

Approximately 40 kilos of dore was forwarded to Swiss refiners in the first week of this month.

An additional 120 kilos will be forwarded this week, with a further 200kg expected to be shipped before the end of this month.

It is anticipated budgeted stabilised weekly production of around 380kg of dore will take two to three months to be reached.

Technical and mechanical equipment issues encountered during the hot commissioning of the Albion/CIL process plant are progressively being overcome but have resulted in delays to the ramp-up phase.

Early bars of dore were running at around 30pc gold and 70pc silver but with improving silver recovery, more recent bars are assaying 11pc gold and 89pc silver with minimal impurities, as was expected from earlier pilot plant test work."
_


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## Gryphonik (2 November 2012)

Getting close to sorting the issues at Las Lagunas should see this one seeing some clear sky you would hope... any holders thoughts?



LAS LAGUNAS GOLD/SILVER PROJECT

UPGRADE OF ULTRAFINE GRINDING MILL

PanTerra Gold Limited (ASX: PGI) (PanTerra Gold or the “Company”), advises that the 48 hour upgrade of the ultrafine grinding mill at the Company’s Las Lagunas gold/silver project in the Dominican Republic will commence tomorrow morning local time, as scheduled.
Removal of the bottleneck to plant throughput should allow design feed levels to be achieved a few days later.
Forecasts for 2013 will be published after three to four weeks of stabilised production following the mill upgrade, and are expected to be robust, with the project operating to design throughput and recoveries.
The project is being undertaken on a profit sharing basis with the Dominican Republic Government which does not cut in until the Company has recovered construction costs. No profit share to the Government (25%) is likely in 2013 with the first payment anticipated in March 2015, based on 2014 results.
No income tax is payable on profits, and the project should generate strong cash flows and early repayment of project loans.


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## So_Cynical (2 November 2012)

Gryphonik said:


> Getting close to sorting the issues at Las Lagunas should see this one seeing some clear sky you would hope... any holders thoughts?




I personally don't think the SP will take off without the POG having a run, the next leg up...if there is a next leg up?


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## adds4 (7 February 2015)

Amazing what a couple yrs has done. Pgi is now trading at 1.6 cents, and is going to be consolidated soon. Its fallen over 90%. There has been problem after problem. So many, where could one start. Pgi is in the process of doing a massive capital raise so it can pay its next installment to maq bank, that's how bad things have got. A definite avoid, the risk is just to great now. Pgi has been trying to refinance for the last 6 months, but that has just not happened, banks and institutions want to see the albion plant work well for a few months show how much free cashflow there is, before committing finance. Shame the albion process has worked with conventional ore, in other parts of the world, just not on tailings ore at LL. Management must be tearing there hair out, not much they couldn't have done differently.


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## adds4 (27 July 2015)

Pgi is really dropping hard. Not long to the quarterly. Gold is crashing. Mining of low grade ore. Everything is going against pgi. Looks like it could fall further. Not looking good for those long termers. Shame as the technology is really interesting. Hope the company raises a bit of capital to retire some debt and put extra cash to Polaris, and extend the life of the plant


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## Sdajii (28 July 2015)

It's an interesting company to watch. Yet another case of a company trialing a method, everything looks good, but then year after year after year there's an endless string of excuses, problems, setbacks, unexpected problems and broken promises. I have to wonder if this technology, the Albion process, is so good, why has some obscure smallcap company fumbled around for so many years while no one else has perfected it?

According to the company's own data and projections, this has always looked great. A couple of years ago or so I briefly held when the company claimed (for the xth time) that the problems had been sorted out and everything was looking good. I sold out promptly when that turned out not to be true, for a trivial loss (I wish I was more often good at doing that rather than holding on for the big loss, painfully drawn out over a long period!)

I'm highly wary of companies which tell you how bright their futures are, but year after year simply have a string of excuses, empty promises, and no results. I don't know if in this case they've always known things were no good but are just enjoying their wage, or if they're genuinely just running along with an extraordinary string of bad luck, or if they're incompetent, or if it's something else, but however you see things it's difficult to expect good results from a company with this record.


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## adds4 (1 August 2015)

The quarterly came out and what an absolute shocker it was. Grade was down (everybody new this), maintainance costs where up?, no payment to Mac bank, therefore the breaking of another contract with Mac bank, and back to the negotiating table for new payment schedule, the stopping of the Polaris project, the extension of time required for import of ore beyond one year now, falling gold price means falling profitability, likely negative cashflow as the company didn't disclose cash at bank. Good will form Mac bank keeping this company going, other lenders aren't stepping upto the plate. Looks like the only way the loans are getting repayed is from closing out the hedge, capital raised. Not much cashflow over the last few years used to paid down debt. Looks like a marginal project at best. Can't see how management are going to extract value from the project. Polaris is stopped, import of ore is stuck in paperwork and negotiation for at least a year or so. Talk about other ores sources are just that, talk. More shares are going to be issued for shareholder loans, so atleast another 15% more shares on issue by years end. No wonder the share price is dropping


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## adds4 (4 August 2015)

Pgi definitely needs a capital raising to forward the company. Amazing one hasn't been done in the last 12 months. With the shares being so low, its going to be painful for long termers, but its the only course of action. The loans need to be reduced and capital needs to be there incase pgi signs up to any more ore deals. Long way back now for holders. Ah well, lost most of the shares value now, the little that is left, you may as well let it ride, and see what happens.


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## adds4 (14 August 2015)

Pgi has closed the hedge down to $1,100 per ounce, therefore reducing the Mac bank loans down to around 15m. Together with the camif loans of 10m, theres around 25m of loans to go, which for a four year project is much more manageable. Obviously the lower gold hedge hurts future profitability, but at the moment debt reduction is the main priority, as most loans are high interest loans. Looks like management are going to concentrate on getting la langus as profitable as possible, with cost cutting measures implemented now, which will hopefully offset the lost in future earnings. Management have revised down forecasts for gold production for next quarter, which is a sensible thing, as continuing to miss targets really hurts the share price, investors don't like surprises. Maybe the the fall in share price will finally stop now, as the company appears to be heading in the right direction.


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## adds4 (18 August 2015)

the investor presentation was a shocker. Some times it better to say nothing at all. This was one of those times. Every time one comes out the project appears more and more marginal. The rivers of gold have certainly disappeared now. With everything going right a modest profit is only achievable after paying out all outstanding loans.

Polaris looks like its finished. What a waste of time and money that was. Someone needs to fall on there sword for the bad decision there.

The only ray of sunshine is a possible china ore deal one day. But going on PGI history, this will likely amount to nothing, like every other deal has. So one needs to take it with a pinch of salt. Until its signed sealed and delivered, its just background noise.

Looks like single figures are not far off again. Bugger


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## adds4 (6 September 2015)

oh dear, the half year report was terrible. Produce numbers like that again and its all over. I was sadly right , that a capital raise was needed, but wrong in thinking its to pay down debt. Its needed to stay afloat and give the company a cash reserve, as pgi hasn't got much cash left. How have the directors let the company get into this position is staggering. It wasn't long ago that the market cap was 30m +. A cap raising should have happened then, not now when the market cap is 6m and falling. Nothing can go wrong any more there simply isn't the cash backing anymore, and the appetite form investors to take up there rights at 10 cents, is not there when the shares are trading at 8 cents now. What a really sad state of affairs. The Chinese deal is the only ray of sunshine for shareholders, but that is atleast 2 years away, can pgi last that long, that's the question. I hope so for everybodies sake including mine.

Production is up which is a start. Hopefully there's a turn around from that. Lift in the gold price will help, but this 1100 hedge is going to be a real problem if the gold price goes up


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## adds4 (29 November 2015)

looks like im out. I either have to buy more shares to be a shareholder or the company is going to buy all my shares. Once my Pgi shares was worth  a bit, not now, most long termers would be down over 90%. Seems like the extra buying lately is people upping stakes to stay as shareholders

Gold is crashing again, maybe pgi can cash in its hedge again and reduce the mac bank loans. Maybe Pgi should go into trading the gold price, instead of processing gold, seem to get the gold price right most of the time.


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## So_Cynical (29 November 2015)

adds4 said:


> looks like im out. I either have to buy more shares to be a shareholder or the company is going to buy all my shares. Once my Pgi shares was worth  a bit, not now, most long termers would be down over 90%. Seems like the extra buying lately is people upping stakes to stay as shareholders
> 
> Gold is crashing again, maybe pgi can cash in its hedge again and reduce the mac bank loans. Maybe Pgi should go into trading the gold price, instead of processing gold, seem to get the gold price right most of the time.




Yeah my once somewhat valuable shares are as worthless as yours, thing is though that pretty much 99% of the small and micro cap gold and resource stocks are also worthless, at least PGI has a cash flow - some hope of digging itself out of this hole.

Gold ain't crashing again, testing the lows as it was always going to do....notice how everyone has taken their eye of it, POG down about 13% on the 1 year chart..that's not a crash.


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## adds4 (27 December 2015)

So_Cynical said:


> Yeah my once somewhat valuable shares are as worthless as yours, thing is though that pretty much 99% of the small and micro cap gold and resource stocks are also worthless, at least PGI has a cash flow - some hope of digging itself out of this hole.
> 
> Gold ain't crashing again, testing the lows as it was always going to do....notice how everyone has taken their eye of it, POG down about 13% on the 1 year chart..that's not a crash.




its a shame we have to compare pgi to all the other micro cap goldies. Pgi should have been compared to nst. mlx, ncm, sau etc. Companies that can make good coin even in this challenging gold environment. Debt has and will kill this company. Don't get me wrong debt is good when things are going well, but the size of the loan was just too big for this company to start with. Good hedging has saved the day. that's pretty much gone now. I don't know how pgi is going to pay for the balloon payment, its worth more than market cap


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## Cam019 (13 July 2018)




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## barney (13 July 2018)

They are suing the Dominican Government for damages and now the SP spikes on no news …. looks like a scary leaky boat


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## Sdajii (1 December 2018)

Pretty volatile price range this year. They had an interesting story to the business but have been plagued with various issues along the way, and then investors seemed displeased with the way things were being reported and how the business activities were being represented.

Anyone know what caused the 'leaky boat' spike barney was talking about?

I'm not taking a position at this stage, but just took a quick look at the company after watching it for a couple of years then forgetting about it until this week, after a long break.


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## Ann (24 December 2018)

I am glad you brought this to my attention Sdajji, I would never have found it otherwise. In fact I was just ignoring it as another crap, non-tradable stock, not worth a mention that some of you boys use to 'win' the Contest.

Much to amuse here. For a start Pantera is one of my favourite bands to conjure up that just right demonic feel in my guts, provided it is loud enough. Great Southern Trendkill favourite album. Just played it, feeling gooood now! 
Second, this has a really good anagram of its ASX code. PIG....!

Now to the really fun bit, I found that the thieving bastards did a 1 for 10 consolidation back on Monday 16th February 2015. Appears MacBank were pushing them.

I thought I would just do a quick calculation of taking the price the Friday before Consolidation of 0.15c rounding back to just the price without extentions of fractions. Took my normal $10,000 and divided the $10,000 (yes I know the mathematicians are ahead of me, I am no mathematician) by 0.15 to see how many shares I would get, I got 66'666.6666666 shares. Yes that is 666 four times!  
So three years ago I had a hypothetical $10,000 (brokerage on top). 
So by Tuesday 17th February 2015 my holding was only 10% of what it had been the previous day. Now calculating on yesterdays closing price of .024c I make it that I have a hypothetical grand total of  $159.99. Please check my figures I am abysmal at maths.

There is something going to happen to this stock regarding options on the 31st December. I don't know if it is good or bad, but check the ASX notices to see if it affects you in any way if you hold. Now for my new favourite words.....

*WEALTH WARNING: This stock has been subject to a Consolidation in the past and may at some time in the future cause you to lose all your invested capital. Stock to avoid.*


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## Sdajii (25 December 2018)

Ann said:


> I am glad you brought this to my attention Sdajji, I would never have found it otherwise. In fact I was just ignoring it as another crap, non-tradable stock, not worth a mention that some of you boys use to 'win' the Contest.
> 
> Much to amuse here. For a start Pantera is one of my favourite bands to conjure up that just right demonic feel in my guts, provided it is loud enough. Great Southern Trendkill favourite album. Just played it, feeling gooood now!
> Second, this has a really good anagram of its ASX code. PIG....!
> ...




You seem to have some hangups. Relax and enjoy Christmas


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## Ann (27 December 2018)

Sdajii said:


> You seem to have some hangups. Relax and enjoy Christmas



It is not the hangups that give me concern Sdajii, it is the holdups, you know, everybody out of the stagecoach, drop your weapons and give us all your money and nobody say a word.


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## basilio (27 December 2018)

Consolidations happen all the time Ann.  Tiny little "big shot" explorers keep sprouting news and creating shares until there are billions of shares on offer with a market cap of (say) $5m. So to "tidy things up" they arbitrarily turn 100 old shares into 10 or 5 or 1 new share  -  mainly so they can start the whole process again.

From my experience in the explorer section of the market it is a great way to turn a good bank balance into fairy dust. It seems the only way to make a buck is to trade it for sharp rises and subsequent falls.
Sad but true.


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## Sdajii (27 December 2018)

Ann said:


> It is not the hangups that give me concern Sdajii, it is the holdups, you know, everybody out of the stagecoach, drop your weapons and give us all your money and nobody say a word.




Yeah, good point. I'm sorry you get guns pointed at your head and your money stolen so often. It must make you scared every time you take a ride in the stagecoach. What weapons do you usually carry? Maybe you should try using them or getting some better ones which are more effective.


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## Darc Knight (27 December 2018)

Sdajii said:


> Yeah, good point. I'm sorry you get guns pointed at your head and your money stolen so often. It must make you scared every time you take a ride in the stagecoach. What weapons do you usually carry? Maybe you should try using them or getting some better ones which are more effective.




You know what intrigues me Sdajii, you and I are the only two people whose Stock tips Ann has sabotaged. Surely a few others have done consolidations or other suspicious stuff.
Remember comrade: the enemy of my enemy is my friend


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## Ann (27 December 2018)

Sdajii said:


> Yeah, good point. I'm sorry you get guns pointed at your head and your money stolen so often. It must make you scared every time you take a ride in the stagecoach. What weapons do you usually carry? Maybe you should try using them or getting some better ones which are more effective.




Sdajii there are a few emotions I am unable to feel, fear is one of them. As far as weapons are concerned I have the pen and Photoshop. Any investments which go backwards, I call tuition fees.


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## Ann (27 December 2018)

basilio said:


> Consolidations happen all the time Ann.  Tiny little "big shot" explorers keep sprouting news and creating shares until there are billions of shares on offer with a market cap of (say) $5m. So to "tidy things up" they arbitrarily turn 100 old shares into 10 or 5 or 1 new share  -  mainly so they can start the whole process again.
> 
> From my experience in the explorer section of the market it is a great way to turn a good bank balance into fairy dust. It seems the only way to make a buck is to trade it for sharp rises and subsequent falls.
> Sad but true.




Bas, you are so right, I had no idea about all of this. Millions and millions are being lost to the markets with this unbelievable, legal rort.  It isn't just the small speccies either. TEN, now defunct, did a Consolidation and wiped out a massive amount of investors' money.


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## Sdajii (28 December 2018)

Ann said:


> Sdajii there are a few emotions I am unable to feel, fear is one of them.




Wow! That's so cool! What are some of the other emotions you are incapable of feeling? Did you get mentally altered by aliens to find yourself in this peculiar state of lacking normal mental function?


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## Ann (28 December 2018)

Sdajii said:


> Wow! That's so cool! What are some of the other emotions you are incapable of feeling? Did you get mentally altered by aliens to find yourself in this peculiar state of lacking normal mental function?



We are all different in the balance of our emotions, some feel things more than others. Some of us feel things less. I think it is more to do with feeling conversion. In a situation where I should be feeling fear, I get the feeling of power, where I should be getting the feeling of love I get the feeling of the need to protect, where I should be feeling the feeling of greed it just fades into a feeling of disinterest.  My father was a sociopath, where he should have felt the emotion of guilt he simply felt the emotion of victory where he should have been feeling the emotion of empathy he simply felt disdain. If you think about it, you might find you have some emotions which seem to convert to other emotions.


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## Ann (28 December 2018)

Darc Knight said:


> You know what intrigues me Sdajii, you and I are the only two people whose Stock tips Ann has sabotaged. Surely a few others have done consolidations or other suspicious stuff.
> Remember comrade: the enemy of my enemy is my friend



Don't worry dk I will get through the list. I have done mine and PO3 along with yours. I will try to be fair to all. It appears there are so very many that it is likely most of the Tipping Contest picks will have a Wealth Warning slapped on to them. It is just a way to limit my field of view. Although I did find two little charmers in the ASX notices yesterday. Maybe when you all do your stock picks you check to see if there is a Consolidation in the stock's family tree. 'Cause if there is I will slap a Wealth Warning on it. Do I care about not making friends...well no, that is another emotion I do not feel.


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## Parse (28 December 2018)

Ann I think what you are doing is a great idea. I would even suggest maybe a forum topic somewhere that could include a list of stocks that have gone through consolidation with maybe the price, date and % ratio.

I had a bit of a look around and it's actually hard to find a list of stocks which use consolidation and when. I feel you practically have to look at every stock code and check out all the old ASX announcements.


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## Ann (28 December 2018)

Parse said:


> Ann I think what you are doing is a great idea. I would even suggest maybe a forum topic somewhere that could include a list of stocks that have gone through consolidation with maybe the price, date and % ratio.
> 
> I had a bit of a look around and it's actually hard to find a list of stocks which use consolidation and when. I feel you practically have to look at every stock code and check out all the old ASX announcements.



Thanks Parse,  I think what we need, more than a list, is a Wealth Warning on all stocks which have Consolidated. It is far too much work just for a single person, they number into the thousands. I need/we need everyones help to hunt down and slap Wealth Warnings on these stocks. I have a Thread going at the moment about Consolidations and a template for the Wealth Warning. We won't be doing double work as once a warning has been issued...and maintained per page we can move on to the next company. New people who are looking up the stock of their interest will see the warning and hopefully move on. If they are d!ckheads and still buy the thing, more fool them, they have been warned.


*
WEALTH WARNING: This stock has been subject to a Consolidation in the past and may at some time in the future cause you to lose all your invested capital. Better value elsewhere.*


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## barney (28 December 2018)

Ann said:


> Cause if there is I will slap a *Wealth Warning* on it.
> *Do I care about not making friends*...well no,




I like the "wealth warning" concept ….. good idea … and helpful

If you save people cash with your "wealth warnings" you may inadvertently make friends Miss Anne …. I hope you are able to cope with that … PS Everyone needs at least one friend




Sdajii said:


> Did you get *mentally altered by aliens*




That's funny ….. no disrespect intended Anne ….. not that you'd care anyway


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## Sdajii (28 December 2018)

barney said:


> That's funny ….. no disrespect intended Anne ….. not that you'd care anyway




It's okay, she is incapable of feeling love and has no interest in friendship anyway!

(with almost anyone else I'd consider saying that to be stepping far over the line, but she describes herself like this! :O )


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## Ann (29 December 2018)

Sdajii said:


> It's okay, she is incapable of feeling love and has no interest in friendship anyway!
> 
> (with almost anyone else I'd consider saying that to be stepping far over the line, but she describes herself like this! :O )



Got it in one Turnip Head....another emotion which converts for me is intimidation, it amuses me which is not a great conversion as the first inclination is to laugh, not recommended. I try to keep a dead-pan expression.


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## Ann (29 December 2018)

barney said:


> I like the "wealth warning" concept ….. good idea … and helpful
> 
> If you save people cash with your "wealth warnings" you may inadvertently make friends Miss Anne …. I hope you are able to cope with that … PS Everyone needs at least one friend




Thanks barney, I hope it can help someone save their capital for a better investment. I have one friend but no 'e'.


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## Sdajii (30 April 2020)

I chose PGI for the May tipping contest. Pretty basic reasons; unpredictable gold co and a freaky situation which may spike interest in gold. Long shot and I have no money in it, but we'll see what happens.


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## Sdajii (29 June 2020)

Not much discussion here on the PGI thread! I've chosen PGI again for similar reasons to two months ago. PGI did have a big spike in late May and could well do so again if the starts align with high gold prices and PGI having any sort of good news.


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## System (10 November 2020)

On November 10th, 2020, PanTerra Gold Limited (PGI) changed its name and ASX code to Antilles Gold Limited (AAU).


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## Stockbailx (22 June 2021)

Is there really a lot of money in this AAU (I think so) have an interesting concept to mining. https://antillesgold.net/
World reserves of refractory ore containing precious metals are increasing but are often overlooked by the mining industry as the ore requires oxidation prior to extraction of gold and silver utilising standard carbon-in-leach (“CIL”) technology.



			https://antillesgold.net/wp-content/uploads/2021/06/AAU_ASX-Announcement-Antilles-Gold-Reports-Outstanding-High-Grade-Gold-Intercepts-at-La-Demajagua-Cuba.pdf


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## Stockbailx (1 July 2021)

Antilles Gold have released a investors presentation;







			https://antillesgold.net/wp-content/uploads/2021/07/Antilles-Gold-Presentation-1-July-2021_Final.pdf


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## signalFollower (22 February 2022)

*Antilles Gold (AAU) is really starting to pick up now* as the path towards mine decision and construction has been laid out, volumes traded, trends on the weekly chart and Executive Chairman - Brian Johnson continually buying on-market and via SPP

positive newsflow coming in the next few weeks:
- Financial Scoping Study  (Feb)
- 2021 Annual Accounts (March)
- Final Drilling campaign (March)

It is my feel that Finance Partners are already all but arranged, offtake agreement discussions already commenced (especially in recent gold price trends) and Mine Design options being overseen by Technincal Director - Dr Jinxing Ji using Chinese partners.

latest artcile, singalling quite susbtantial cash flows (but also check out the company announcement about Planned Production Targets)

https://www.theassay.com/news/antil...th-release-of-la-demajagua-production-target/

on the Weekly chart, breaking through 10 cents will free the stock of the last 12 months sideways / holding pattern, and in recent weeks is up nearly 20%, seem sto be setting up for that 10 cents breakout, maybe on the back of those above newsflows







sustained period of Insider Buying


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## signalFollower (24 February 2022)

and here today is the Financial Scoping Study, and IMO the end of Market Cap less than $30m  (currently $26m)   especially with a share of Cash Profits being above current marketcap each year !!

pretty easy to see why this mine and Joint Venture partnership is being fast tracked.


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## signalFollower (24 February 2022)

signalFollower said:


> and here today is the Financial Scoping Study, and IMO the end of Market Cap less than $30m  (currently $26m)   especially with a share of Cash Profits being above current marketcap each year !!
> 
> pretty easy to see why this mine and Joint Venture partnership is being fast tracked.
> 
> View attachment 138019




Finance planned and pretty much implies being progressed towards Finance Approval too


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## signalFollower (25 February 2022)

well this is a bit of a surprise, Antilles getting coverage on a UK website with today's Financial Scoping Study announcement !!

https://www.proactiveinvestors.co.u...old-silver-mine-in-cuba-shares-up-974950.html

nice ....


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## signalFollower (25 February 2022)

so just some back of the envelope estimates using the Scoping Study NPV8 value of USD $218.1m  / AUD ~$300.1m @ 72.5c AUDUSD

option exercise price is 13c expiring end of April 2023
Seems like this has not yet filtered through, as typically on a Scoping Study it'd be 20% at least of Fully Valued (FV), also it is expected that the DFS will be sufficient to take things to the Funding decisions


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## signalFollower (1 March 2022)

another positive announcement from Antilles this morning, an *exclusivity agreement* to pre-review all possible Gold mining projects in Cuba on behalf for and to recommend that they be pursued under the Joint Venture arrangement

also,here's a brief 7 minute update from the Executive Chairman - Brian Johnson


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## signalFollower (10 March 2022)

Antilles Gold  already bringing to the table some of the benefits of the recently signed exclusivity agreement under their Joint Venture


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## signalFollower (11 March 2022)

a short version write up, emphasising the "Company Making" opportunity on the significant deposit pipeline project

https://www.proactiveinvestors.com....osits-near-ciego-de-avila-in-cuba-976342.html


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## signalFollower (17 March 2022)

so the International Court of Arbitration just cleared the way for a claim up to $40m againstthe Dominican Republic for prior contract breaches, to be heard by June 2023.


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## signalFollower (24 March 2022)

another announcement today the Company Presentation that I understand that they intend to take around to multiple Investor familiarisation sessions in a PR context to increase the company profile.


Also today, I found out that a fairly decent sized subscriber based Investment Newsletter initiated a 4 star coverage report on Antilles just last week the 17th of March


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## signalFollower (30 March 2022)

just revisiting the recent Company Presentation alongside this weeks small cap raise calculations, that cap raise to pretty much (my opinion) see things through until the DFS / mine decision of the first Project shown below

cap raise announced $3.25m 50 million shares @ 6.5c with 1 for 2 options @ 13 cents, plus and additiona 1 million options for the lead financier, so 26 million options all up.

see bottom below how this recent raise and the potential of options being executed which is about $11m cash raise in itself, all stacks up against only the first / base case project of the 6 year Open Pit mine life.







base dupon my calcs, this is how I see the potentialof dilution in those o/s Options plays through into best case / worse case share price on ONLY the Open pit (stage A) of the three listed projects above, meaning the other two projects are cream given the cash flow of the first stage is seeking to self fund the other two projects

Financial Scoping Study (Feb 2022) -projected $35m profit per year dividend from JV sahre @ $1650 price of gold / oz  (not a typo - $1650 !!)






so nearly 5x share price upside , potentially 6x depdning on options being executed
high level $35m Antilles project dividend (Revenue), with Market Cap currently less than $25m
circa $35m (Revenue) at lets say a rounded up 500m Shares on Issue would equate to 7 cents EPS against current share price of 7.1 cents !
NPV expected to increase if price of gold stabilised to an accepted norm above $1900, as $1650 POG is a 14% discount on $1900
NPV expected to increase as remaining Drilling assays are brought into the maiden JORC results and reclassified from "inferred"
Just on the Base Case (stage A) project, with the potential "Company Maker" project to come after that.

"Compelling" comes to mind.


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## signalFollower (1 April 2022)

happy to be sharing this quality piece  of Antilles Gold detailed analysis and timeline of key events across the multiple projects in the pipeline.   can't take any credit for it, but this certainly helps one see the huge potential in the multiple projects and the self funding capacity that the company has after the intital open pit mine starts generatingits cashflows.   all of which for $13m USD ($18m AUD) initial investment

recently updated revision incorporating the Annual Report 2021 updates

DYOR - this has checked out on all the things I alreadyknew and had dervied from prior company announcements myself


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## signalFollower (2 April 2022)

Just a  recap on the 2021 Annual Report re Director's holdings, the 4 directors holdingjust under 23% of Shares on Issue (the denominator accounts for the recent cap raise in March 2022 50m shares / 26m options)

There's certainly skin in the game being demonstrated here, and we also don't know to what extent Directors may have participated in the March 2022 cap raise,is at all, as those shares aren't due to be issued until the next week

my summary:

_(including Director Transactions after 31st Dec 2021 balance date of the Annual Report)_






Annual Report extract:


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## signalFollower (3 April 2022)

a great podcast here about the benefts of being a Brownfields mine developer in the Copper space, which plays right into the strategy of Antilles Gold who are actually more advanced than a Brownfields given the government are their JV partners and they also have historic drilling results

https://www.kitco.com/news/2022-04-01/Why-copper-miners-prefer-brownfield-development.html


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## greggles (4 April 2022)

Low volume but AAU is down almost 6% today? Market depth looking a bit weak with not a lot of buyers lining up.


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## Tyre Kicker (4 April 2022)

Definitely not one I would put my money into but each to their own.


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## signalFollower (4 April 2022)

Tyre Kicker said:


> Definitely not one I would put my money into but each to their own.



did you reference Sherritt International and Trafigura Mining Group as predecessor JV miners ?  pretty easy to land on sovereign risk, and in doing so you'd inevitably rule out a much lower AISC producer, which $18m AUD in for $35m AUD p.a. returns from just the smaller project certainly highlights


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## signalFollower (4 April 2022)

greggles said:


> Low volume but AAU is down almost 6% today? Market depth looking a bit weak with not a lot of buyers lining up.



this is headline reaction on the sell side to the recent cap raise at 6.5c which came with 2 for 1 free options to spohisticated investors only, so also some of those players players may be going a "free options" only posiiton for close to free carry with over 12 months to go on those options.

at 6.8c the recently diluted NPV% comes at as per below with both SOI and SOI+options assumed:







also with thepotential $40m AUD settlment around June 2023, there isn't really alot of extra cap raise forseen, let alone the JORC being upgraded with more assays to come in any day now and also the Financial Scoping Study being done at $1650 USD price of gold, at $1950 gold  the project NPV goes up by around 50%





the numbers certainnly stack up quite well, and currently present as a potential 2x - 4x between now and the November 2022 DFS and mine decision, without giving any credit to the other projects to follow, or the underground stage of the first project open pit mine.

and what happens when a 4th or 5th project gets identified under the Exclusivity Agreement ?


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## signalFollower (4 April 2022)

the Silver component and modelled sales revenue under the Financial Scoping Study






my calcs / estimates here are that the 70% of US$22/oz = US$106.5M  sales revenue, itself equates to 6.9M / oz equivalent of silver in concentrate sales

as per the very interesting video below about silver's demand shortages and the possibility of US$30/oz silver, using the same 70% of value for 6.9M oz equivalent would equate to US$144.9M sales revenue for silver alone, which over a 6 year LoM equates to an additional US$6.4M per year onto the NPV business case too.

so, apart from this video being quite bullish for good industry demand reasons on silver, towards the end it gets really strategy suggesting some of the larger tech players with the need for silver, might find themselves securing the supply / supply chain via mine ownership - quite an interesting slant on things there.





the whole situation is highlighting quite a fair amount on excluded inherent value in the current NPV valuation base case as we know it.


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## signalFollower (12 April 2022)

Open Pit phase #1 (project #2 (major Copper resource) not factored into any NPV calcs) % of NPV values in light of "free-carry Options" trades selldown to 6.3c

NPV $218m USD @ PoG $1650 / oz USD*
NPV $308m USD @ PoG $1950 / oz USD*

* Scoping Study February 2022


Current Share Price: 6.3c AUD

Shares on Issue:  354,004,961**  (assumed all 50m shares from recent Cap Raise Issued, 5.9m to go to via Resolution vote)**

Current metals Prices:






at current Share Price minority interest currently valued at:

currently *15.7%* of minority interest of NPV (49% of 218m USD)

currently *11.1%* of minority interest of NPV (49% of 308m USD)

_(75c AUD/USD conversion rate assumed)_

further assays to come into JORC resource (April / May)
2nd  phase Under Ground 10 year LoM not factored in to any NPV calcs
project #2 (major Copper/Gold resource) not factored in to any NPV calcs
project #3 (significant Gold/Copper resource) not factored in to any NPV calcs
expected $30M USD settlment agains DominecanRepublic Govt nor factored into any NPV calcs
Investor Information Roadshow to commence after Easter


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## signalFollower (12 April 2022)

just out - Further High Grade drilling Results for Open Pit mine phase

DFS on track for Nov 2022
Offtake negotiations continuing
Final JORC expected around August 2022
720,000 oz Gold
9.57m oz Silver


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## signalFollower (15 April 2022)

quite a succinct yet constructive update interview with Executive Chairman Brian Johnson who states


expecting a 1 million oz resource after all assays are recalculated for the project #1 Open Pit stage
beleives management have identified an innovate approach to minimise shareholder dilution
DFS and re-calculated Financial Scoping Study on track for November 2022
reiterates the Supplier Financing backed by China-Exim Bank, plus traditional project loan
Offtake discussions continue, taking them to the next level with one party
Upcoming visit to Cuba
Project #2 begins exploration drilling in June and should overlap the mine contruction phase of project #1
** not advice / do your own research **


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## signalFollower (16 April 2022)

another interesting interview / discussion on gold price predictions, where things are at in the overall inflation cycle and the mention of miners as a physical derivate option to get access to gold


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## signalFollower (24 April 2022)

wow - this message here on the silver physical supply mismatch to the highly leveraged paper silver market is quite insightful

** not advice / do your own research  **

the echoed sentiment that silver is one of the best long term propositions in the metals space.

so Antilles Gold with it's 9.5m oz resource  over the 6 year LoM open pit, does really stand to beneft from the scopingstudy base silver revenue at just $22 USD spot price.

in % terms this seems to further support that silver concetrate sales will outperform the rises in gold spot price, and silver being $105m USD of the revenue stream LoM for just a $218m NPV (or $307m NPV if we use gold spot $1950 USD) could really add significant value to the mine operation


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## greggles (24 April 2022)

Informative video. It seems like precious metals, base metals and lithium/REE are a no brainer at the moment. What he says about green metals (nickel, cobalt, copper, lithium etc.) is true. Government policy will keep demand in this sector high for the foreseeable future. Supply will eventually catch up, but it may take several years and it may struggle to keep pace if demand keeps increasing.

What are the risks with AAU? I haven't been following it, but it does look interesting.


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## signalFollower (24 April 2022)

greggles said:


> Informative video. It seems like precious metals, base metals and lithium/REE are a no brainer at the moment. What he says about green metals (nickel, cobalt, copper, lithium etc.) is true. Government policy will keep demand in this sector high for the foreseeable future. Supply will eventually catch up, but it may take several years and it may struggle to keep pace if demand keeps increasing.
> 
> What are the risks with AAU? I haven't been following it, but it does look interesting.



Hi there greggles

** not adivce / my opinions  / dyor of course **

straight off the bat, most people will see the jurisdiction as the biggest risk, because the company has an exclusive Joint Venture with the Cuban Govenrment.

But to that (and to my research), Antilles is only the third intternational welcomed into the mix, the other two being Sherritt International since the 1990s  (their JV is called Moa and is Nickel) and also Trafigura Mining Group since 2017 (their JV is called Emincar and is Lead / Zinc).   Also ASX:MAY could be considered the fourth with their recent Oil explorationsin Cuba too.

so back to Antilles, they have been brought into the mix stemming from many years of relationship building, and no doubt on the strength of the reputation of the Executive Chairman - Brian Johnson and team to bring projects to fruition.  Where it recently got really interesting, is the exclusivity agreement (competitive moat) whereby Antilles are granted the first look at other prospective projects that usually have historical drilling data, but not JORC compliant so Antilles will fund further JORC exploration as confirmation fo the resources and then the projects go forward to be recommended into the official JV arrangement, at which point Antilles gets reimbursed for it's confirmation exploration expenditure.

There are two quite significant additional projects already on this path, beging the JORC exploration in July / Sept respectively.

The maiden project is the Gold / Silver and the initial Scoping study NPV is basedon some low spot prices and a known / expectation thatthe final JORC resources will be revised upwards to an epxetced 1m oz Au equivalent, AAU currently trades at (my opinon) a crazy low just 20% of that already conservative NPV, and yet they're quite a way progressed towards the mine decision in by the end of 2022.

Also because the Executive Chairman himself, owns and has been quitea regular on-market buyer accumulating a current ~ 23% holding (strategic stake with respects to hostile takeover to lowball offers), there is an inherent preference to minimes further dilution - which is one of the bigger upsides here other than spot prices themselves.  to that extent, there is a recent youtube interview with Proactive  where "innovative financing option to minimes if not eliminate further dilution" was mentioned  (scroll prior posts)

So, what are the risks ?

- sanctions may make "typical" finance a somewhat limited pool to shop around at
- offtake agrements (also mentioned in the recent interview) need to be finalised before DFS (Nov) so the finalisation of financing can be sealed - they are apparently progressed to a prefered offtake partner with whom further discussions are progressing (again the prior video)

I don't see any real issued around execution risk be that building the mine and infrastructure, because of thetrack record of the company's management, plus the skin in the game too.

On Jurisdiction risk,well with the two other international miners having operated for multiple years, when you check their Annual Accounts they are booking up healthy proceeds from their respective JVs too, so that doens't bother me either.   I actually think jurisdictionis a catalyst for success of the projects because of the importance to the local ecomony of the export dollars it will generate, andhaving the government as your JV partner surely ought to see things on the permits and approvals side be well supported.

So on a pure value perspective, what I beleive is compelling is the returns for minimal capex down (even on the base case undervalued NPV) and that the majority of the finance is intending to be non-dilutive.  That coupled with the period between mine decision and first production by all accounts is likely to see the demand story really step up and surely supports a revaluation of resources in the ground during the period pre-mine revenue.

so  a 6 year LoM Open Pit with ananticipated 1m Au equivalent resource of which at least 9.5m oz odf that is silver, and then underground stage and feasibility etc etc

We are also expecting the true potential value of the previously described "massive" and "company making" project #2 and to a lesser extent #3 to be communicated via a series of Investor workshops through the country during May / June, it's the signficance of those when taken into consideration that they're planning to be self-funded by the cashflows of the open pit stage / project #1 where the real mutli-bagger potential will all become clearer.

my opinion from being involved following / researching everything now for over 12 months, is this is serious multi-bagger potential

What I am really keen to see / get an update on in the revised Top 20 after the recent cap raise, as it's suggested / rumoured in other forums that some cornerstone investors have joined the register.

what I'll sign off here with, if the preference for minimal / maybe no further dilution plays out, then we could be enroute to serious cash flows and a project pilpeline many times over with fewer than 500m shares on issue, so even at $1 / share it'll still only be a $500m market cap

for completeness / supporting this post


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## signalFollower (28 April 2022)

pretty pleased to come accross these recent analysis updates on GoldStockData.com - which is run and adminstered by small cap / multi-bagger gold buff, Don Durrett who is considered a bit of an expert in his own right in this niche investment space of spotting them early.


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## signalFollower (29 April 2022)

announced just today, a 3rd significant Major pipeline project has been brought into the scope of the Exclusivity Agreement for confirmaiton exploration and possible elevantion to become a JV project following that.

this project being a cluster of deposits along a 40km zone and within easy access to infrastructure

full announcement and presentation here


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## signalFollower (1 May 2022)

found this article as a bit of background reading on VMS and polymetallic deposits, as per the recent announcement about the 3rd pipeline project


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## signalFollower (4 May 2022)

another succinct update interview with Executive Chairman - Brian Johnson on the pipeline projects and how they fit into the organic growth strategy


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## signalFollower (6 May 2022)

a very interesting period coming up for AAU, firstly in the next 4 weeks which sees Investor tours and the AGM, followed by a few months of pipeline project drilling commencements culminating in the DFS and Final Investment Decision for the flagship Open Pit gold/silver project

12th May - Sydney (1 day)
16th May - AGM including vote on reinstating the Employee Incentive Performance Plan (Rights)
18th May - Melbourne (1 day)
23rd May - London, UK (1 week)
30th May - Torronto, Canada (1 week)
Aug 2022 - expected final JORC and Scoping Study Update to NPV8 for La Demajagua Open Pit
Q3 2022  - commence Drilling of El Pilar deposit (14,000m)
Q4 2022  - commence Drilling of New Horizons deposits (14,000m)
Q1 2023  - commence Drilling of Golden Hills deposits
Nov 2022 - completion of DFS for La Demajagua Open Pit
Dec 2022 - final Mine Investment Decision for La Demajagua Open Pit
In particular the next 4 weeks of May and early June should see the potential for a number of new shareholders to come to the register and also for the Employee Incentive Plan to set in place rewards for those that have a challenging and rewardnig period before them in thenext 12 months to 18 months.

source: Investor Update Announcement 3rd May 2022

https://antillesgold.net/news/


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## signalFollower (7 May 2022)

just released, speaks to "Company Maker"


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## Telamelo (7 May 2022)

AAU share price chart is currently weak/bearish









						AAU Share Technical Analysis | Antilles Gold Limited
					

Current Technical Analysis and interactive chart for $AAU stock / shares. See the current trading strategy, trend(s), rating and buy and sell signals.




					asx.swingtradebot.com


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## signalFollower (7 May 2022)

Telamelo said:


> AAU share price chart is currently weak/bearish
> 
> 
> 
> ...



a TA chart approach on an Explorer / Mine Developer is kind of pointless in these early stages, this is about being undervalued to the NPV of just the near term Open Pit mine (less than 20% currently), and therefor all the other pipeline projects and the strong likliness of the $40m Dominican Republic claim being settled by June 2023 aren't in any way represented in share price.

At this stage for me anyway, it's about understanding all of that value above, and observing all of the on-market buying too by the Executive Chairman and other movers into the Top 20.

TA on the charts wont trigger signals until maybe 9c and a 10c breakthrough, by that time the shares will be up around 40% and the options even more I would expect, but I understand the charts approach, I actually use Amibroker to write heaps of signals to get radar stocks, AAU was one of those about 15 months back and since all the research and projects have panned out, it's now IMO a deep value opportunity with an almost certain likeliness of going to mine decison following the November DFS, which is normally when 50% NPV will be reflected by the share price, which is at least 15c on current shares on issue.

I would be suggesting at least a watchlist stock.


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## signalFollower (8 May 2022)

with the couple of (potentially significant) copper / gold and copper / zinc projects now in the pipeline and commencing JORC compliant drilling this calendar year, the leverage to the EV demand story starts to become relevant IMO


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## signalFollower (12 May 2022)

some interesting data for the *total ounces* (not dollar value) held by the Bullion backed ETPs such as GOLD ETPMAG ETPMPT ETPMPD, even alongside falling gold and silver prices per oz, still funds are flowing into this area / on-market offerring for bullion exposure.

Are these the early adopters ?, does this foreshadow a wider move to come should interest rates and inflation topple the global economies and their very significant debt levels ?

should this flag the beginning for an appetite of bullion investment, that ought to be a positive for spot prices, and in turn AAU's Financial Scoping study business case.

data is available here :  https://www.etfsecurities.com.au/category/commodities

** not a product endorsement, simply data tracking of the flow of funds **


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## greggles (12 May 2022)

Been keeping an eye on this stock and I must say it is holding up very well in a very bearish market.


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## signalFollower (14 May 2022)

greggles said:


> Been keeping an eye on this stock and I must say it is holding up very well in a very bearish market.



it'd be to do with the low market cap to NPV for the November 2022 DFS and FID decision, I think we're at 15.9% (or 19.7% assumed fully diluted by options on issue)

also this week saw the first of the Investor Presentations, Melbourne next week and then off overseas for a couple of weeks

Final (preseumed to be upgraded) JORC resource by August and a re-calculated Financial Scoping study by September too.

and then there's all the pipeline projects / resources (significant Copper to be quantified)  and any updates on the Dominincan Republic settlment / claim

IMO remains extremely undervalued and flying under the radar still


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## signalFollower (16 May 2022)

Antilles AGM today and IMO this one vote on re-approving the Employee Performance Rights scheme is a catalyst for share price appreciation and all the positive news flow to come


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## signalFollower (2 June 2022)

quite a detailed 30 minute video interview today with both the Executive Chairman and Exploration Director

- gold / silver on track to DFS by November 2022 and mine construction during 2023
- copper - a couple of significant deposits to fast track and focus on with the gold / silver revenue providing alot of self funding of future projects
- new flow - a very busty 12 months coming up


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## signalFollower (4 June 2022)

As mentioned in the above interview with the Chairman and the Exploration Director, I just watched this explanation of Porphyry deposits, but really if you see the second link below, it's really about the potential size and longevity of these deposits.

So all in all, it seems Antilles Gold is well and truly going down the path of a massive Copper deposit, so it's more like they'll be Antilles Metals in a sense, and that plays nicely into the Electric Vehicle increased demand fro copper too.



so here's a write up and some impressive pictures about the potential size of these deposit systems -  https://www.geologyforinvestors.com/porphyry-largest-source-copper/







the other hint is the prior video interview (but please independently confirm) is that we expect some sort of update announcment on plans and target resource grades for the El Pilar deposit that Antilles are prioritising their further exploration drilling on, commencing from July


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## signalFollower (6 June 2022)

the size of these Porphyry deposit types is truly impressive potential, and should make for a very interesting newsflow period in the next few weeks and months

- target resources projection - June
- JORC compliant / confirmation drilling commencing - July
- first drill sample results expected - September


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## signalFollower (7 June 2022)

company announcement today (7th June) to confirm a Reporisitioning and focus upon expiditing two large copper deposit systems


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## signalFollower (8 June 2022)

this graphic definitely highlights that Cuba's location holds it in good stead for a significant copper deposit, given the neighbours in both North and South America

*2020 World Copper production data


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## signalFollower (10 June 2022)

it looks like the Antonio deposit with its already in place NI-43-101 deposit will be the third mine for the company

Brian suggests there could be over $650m of copper and zinc at shallow depths, as a low cost third project


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## signalFollower (20 June 2022)

there are some interesting points put forward here about the future of copper simply being "Electrification" for the billions of people who currently live without any / very reliable electricity in their normal daily lives.

all sounds good for Antilles El Pilar project that we expect to hear some updated / estimates on Resource in the near term

I particularly liked the point that "sometimes the worst jurisdictions in the world ar ethe best for fast tracked permitting" on the basis of those locations need and rely on mining for their GDP


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## signalFollower (22 June 2022)

announced today - 2nd possible mine to begin assay testing from September, prioritised based upon historical Inferred Resources

The Antonia deposit with its NI-43-101 compliant resource is to be progressed to the second possible mine in addition to the $218M USD NPV Open Pit gold-silver mine.  Antonio itself having an estimated Resource Value of $525m USD base metals and is located in the very significant "New Horisons" larger VMS deposit zone


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## signalFollower (23 June 2022)

Pause in trading the day after the announcement about theAntonio deposit being brought foward as a small cash flow generating operation.

this could be interesting


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## signalFollower (29 June 2022)

25 % increase in the Resource Estimate for the open pit La Demajagua gold-silver deposit in Cuba with 90% of drilling result assays taken into consideration

LoM increases from 6 years to 8 years, and then underground to commence as previously announced

Financial Scoping Study will be updated by the Septermber quarter (last calculated at Price of Gold $1650 USD)


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## signalFollower (29 June 2022)

a short interview with Brian following the updated MRE, the "quick calc estimates" comments and the mention of $300M are very exciting for a company that is under $25M market cap - and not forgetting, none of this factors in the pipeline projects


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## signalFollower (7 July 2022)

in this interview the talk gets into some details around the potential of the El Pilar porhyry copper deposit


El Pilar "oxode cap" is a 60 metre deep two zone gold/copper and then copper/gold deposit with a target reseource
El Pilar underlying porphyry deposit if the same oxide cap grades are shown to exist has the potential to possibly be 500 million tonnes, drilling kicks off July 2022

but hear it for yourselves here:


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## signalFollower (19 July 2022)

El Pilar Oxide Cap Target Range for shallow 60m deposits, making for easier and less ocstly open pit minining


224,000 oz of Gold
54,000,000 lbs of Copper

stage 1)  Gold / Copper
stage 2)  Copper / Gold


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## signalFollower (26 September 2022)

Antilles are onto a porphyry Copper/Gold deposit - this could be somehting quite huge


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## signalFollower (6 October 2022)

a follow up announcement today 5th of October 2022 and statement made that strong confidence is obtained from the visual review of drill cores for the preliminary drilling

later in the announcment pack, they then provide this estimate of the relatively low capex potential Open Pit mine of justthe top oxide cap layers

wow - I make this to be approximately 500m x 1.2km 





grades estimates of the oxide cap itself (depth to approx 60m)


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## signalFollower (13 October 2022)

$100K cash in for one fo the Directors / CEO today given the recent Resolution vote was passed

2 million shares @ 5.0 cents plus 1 for 3 free options
5.0cents is above current last traded price of AAU shares






alongside other movements within the Top 20 this is all shaping up to be getting quite interesting, and despite all that is still flying under the radar of the general market


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## signalFollower (25 October 2022)

so recent announcments this week about AAU splittinf off two concentrate products from its La Demajagua open pit project, with a second silver-Antimony concentrate offerring the ability to extract further value of saleable products (mainly Antimony)

by my estimates 4,000 tonnes per year of Antimony out of the 11,000 tpa of Silver rich concentrate is worth quite a bit in terms of potential addtional sales revenue into the FInancial Scoping study and therefor project NPV, with Antimony prices around $14,000 USD per tonne















and a price chart with some geopolitical drivers playing into a higher prices supply and demand landscape looking forward


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## signalFollower (28 October 2022)

some very interesting comments here


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## signalFollower (9 November 2022)

on the back of El Pilar preliminary drill results, this confirmation of committment with the Cuban Government


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## signalFollower (17 November 2022)

*Existence of Copper / Gold porphyry confirmed - this could be huge !!*

recently ASX:TTM announced updates on their porphyry and the share price doubled in a few months, so eagerly wathcing on with AAU


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## signalFollower (1 December 2022)

*followed up today, with preliminary results confirming Gold too !!*

1st Dec 2022


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## signalFollower (1 December 2022)

Dr Chris Grainger (Geologist) speaking on El Pilar  - 30th November 2022


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## signalFollower (7 December 2022)

top billing Gold Intercepts for the week


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## signalFollower (10 December 2022)

first attempt to present a 1 page helicopter view of the project pipeline versus target prices for the metals int he resource

also tryign to simplify refreshign the data with a single click by using powerBI

aside from El Pilar (oxide) metals targets which are simply an estimate, the other two projects can be reconciled to Company Announcements Feb 2022 and June 2022 respectively.


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## signalFollower (18 December 2022)

Melbana Energy (MAY.ax) helping to give Cuba exploration and mining a profile amongst ASX investors

a speccy buy for MAY just on Friday the 16th of December 2022


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