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Rapstar
2 weeks ago

I just posted an update on Yandal (YRL).   They have flagged they are onto a significant find at Gordons Dam (adjacent to NST site which has also had significant intersectons).  

DGO think they are onto a Tier 1 discovery.  

Datt Capital jsut increased their holding to 8.4%.   

Worth a look for those looking for qaulity explorers. 

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Stuey727
6 days ago

What is DGO sorry? 

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Bear77
3 weeks ago

23-April-2021:  Andrew Mitchell from Ophir interviews Bill Beament about what he has achieved at Northern Star (NST) and his plans for Venturex Resources (VXR):

https://www.ophiram.com.au/march-quarter-investor-webcast/   The interview starts from the 19 minute mark.

My commentary on the interview (posted under VXR)

The Ophir boys (Andrew Mitchell and Steven Ng) were successful portfolio managers at Paradice Investment Management and they invested in NST early on while at Paradice, and continued to invest in NST when they founded Ophir Asset Management.  They did VERY well out of NST obviously as everybody did who has invested in NST over any decent length of time (I'm talking years here, not months or days) in the past decade (since 2010).  Bill took over the top job at NST in 2007 when the SP was 10 cps, and built the company into Australia's second largest gold mining company and saw the share price appreciate to over $16/share at one point.  They closed today at $11.38, so the haven't just 10-bagged since Bill started running the company they've 112.8-bagged.  If you'd been lucky enough to have invested $10,000 in NST in 2007 when Bill took over, and kept the shares until now, those 100,000 NST shares bought for $10K would now be worth $1,138,000 ($1.14 million).

When at Paradise, Andrew and Steven bought 7% of NST at 35 cents/share, so they weren't in it from the very beginning, but close enough to it.  They only missed the first 2.5 bags.  It should also be noted - as Bill does note near the beginning of the interview - that he recapitalised the company in 2009 at $0.0125, i.e. 1.25 cents/share, so there were opportunities back then to get onboard at 1.25c.  If you HAD bought $10K of NST in 2007 when Bill took over, you would have seen that investment value shrink by 90% in the first 2 years as they were trading at 1 cent/share in 2009, however, as I said, if you'd held your nerve, they'd be worth over $1m today at $11.38/share.  And you had the option to top up at 1.25c/share  in 2009 with attached options.  Here's what existing shareholders were offered by NST back in September 2009:

Two New Shares for every five Existing Shares held at an issue price of $0.0125 per New Share. 

For every one New Share issued, you received one free Option, on the following basis:  

  • one third of the Options exercisable at $0.025 expiring in 2010;
  • one third of the Options exercisable at $0.05 expiring in 2011; and
  • one third of the Options exercisable at $0.10 expiring in 2012.

They issued approximately 48,504,252 New Shares and 48,504,252 Options and raised approximately $606,303, before costs, from the shares (not sure how much they later raised from the options being exercised).  That's how small NST was back in 2009.  They recapitalised the company by raising less than $1m. 

Their current market cap is $13.4 billion. 

They've come a LONNNNGGGG way baby!

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perry
4 weeks ago

NST maintained guidance yet took a hit today. I can't see in the report that disappointed the market other than some minor consolidation issues which are common with a merger. Can anyone enlighten me as to what i missed in this report.

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Bear77
4 weeks ago

Hi @perry.  I didn't see anything nasty or unexpected in NST's quarterly.  Sure they were down -42 cents (or -3.69%) yesterday, however they're up over 35 cents today, so it's not a major concern - just the daily girations of the market.  Even at the end of yesterday, after falling 42 cps, NST were still up +15.5% on their $9.48 level on 31-March-2021, so +15.5% in just 3 weeks.  They're rising again, but it won't be in a straight line, and it's off a low base.  They are now +38 cents today as I type this, so have almost made up yesterday's fall already just in the first 36 minutes of the today's trade.  At $11.33 (where they are right now), they're up +19.5% on their 31-March close of $9.48 (in 22 days).  They are currently my largest position if you add up my NST holdings across the 3 portfolios that I hold them in (which includes my SMSF).  They are currently the largest position in my SMSF and the second largest position in another portfolio that I manage.  Not worried by the occasional -4% fall in a day.  That's gold miners.  Very volatile.  And NST is the best gold miner available to buy on the ASX in my opinion, with the best risk/reward ratio.  Buying them at under $10 was a steal.

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