Top member reports
No meetings
Consensus community valuation
The consensus valuation is for members only and has been removed from this chart. Click for membership options.
Contributing Members
Content is delayed by one month. Upgrade your membership to unlock all content. Click for membership options.
Added 3 months ago

Another victim of lower metal prices.

Galena mining undergoing a strategic review of Abra Mining operations

Shares are now suspended


Good call from @Bear77 warning everyone about the track record of Tony James

Appears also that Alan Molyneux also left.

That's 2 names to add on your blacklist should they become directors again

Abra is also an underground mine so this would be a negative for mining services companies

The mine was developed by Byrnecut and GR engineering (GNG). I'm not sure if Byrnecut or GR Engineering is involved in mining operations.

(21/06/2023 Gold Coast Investment Showcase Presentation )


Read More
#Bull Case
Last edited one year ago

Noticed a few director buys here. BTW: Alex is the MD (source: marketindex)

21/12/22 Alexander Molyneux Buy +105,000 $0.228 $23,980 On-market trade

15/12/22 Alexander Molyneux Buy +145,000 $0.234 $33,875 On-market trade

14/12/22 Alexander Molyneux Buy +250,000 $0.230 $57,458 On-market trade

Correction on my calculations before

My rough DCF comes to be around 550m including capital expenditure. I got my Pound to tonne conversion wrong!


So NPV of 575M overall but I guess the cash costs they quoted doesn't include interest expense on debt of 110m and royalties (so maybe 500M?). Still think stock is trading around fair value as this is a underground mine and anything can go wrong. Also the company has found copper gold drill results below the silver/lead Abra deposit.

(Previous incorrect statement as reference - my very rushed valuation (on the Nov 2022 presso) comes less than the current MCAP. So it is probably fair value here. Note that Abra is a underground mining op)



Read More