Wanted to give this its own thread.
As suggested by @theinvestmentjourney
Another AIM gold miner with a low mcap and huge potential.
8 votes in 18 hours, there is clearly a lot of interest 
Not quite KEFI minerals but I’d vote for it!
It seems like Landore Resources will be added today.
Unfortunately it seems to be exclusively for plus, which I do not intend to suscribe to. In my opinion it is not worth it.
The team just added it.
Any analysis you can share with the community?
1 Mill oz of gold
Soil sampling indicates that the gold trend extends 8 km
Drill results due imminently - infill drilling to increase the resources estimate, 500 m step out drilling and extending depth.
Potential for multi-million OZ deposit. Broker note headline ‘Gold everywhere’
Only £30 million market cap, with some big name investors (e.g. Eric Sprott)
Some serious movement here soon I suspect
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Great drilling update - looks like the MRE will be expanding a lot this year…
Genuinely think this is the most under the radar mining stock’s on the AIM. Market cap of £30 million and they already have 1 million OZ of gold, Nickle sulphide deposit (e.g. car battery), all based in Canada, preliminary assessments indicate it is cheap to mine. And this is before the current drilling campaign!
I mean if Eric Sprott (who owns a 10% stake in Landore), thinks its a bargain… (See Eric Sprott)
Some AIM mining stocks have similar market caps and they have yet to announce any drilling results, its incredible really…
Bonanza Grade Gold
Ultra high grade veins under the present defined resource. With a market cap of only £40 million, this is going to get very exciting.
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latest interview
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Thanks AM90. Seems like you’ve been recommending this for a while now and for good reason imo. I’ve been buying a fair bit myself recently, and have built it up to my 4th largest position. Whichever way you slice it, I can’t figure out how it’s remaining so underbought and undervalued.
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Agreed - great risk/reward ratio at its current mcap. Perhaps it’s not interesting many since the updated MRE will not be until much later this year.
Bill also mentioned starting the PFS this year - should be a great catalyst for the SP once they’ve got this out there.
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Crosshair22 + MrChew,
Completely agree. I have been in for over a year now and must say the exploration success has surpassed my expectations, but the SP performance has been underwhelming, even with the backing of the great Eric Sprott
It is very difficult to understand why the share price has not kept up with the results, its obvious the resource is going to increase and its obvious that this is a multi-million oz deposit and both of these assumptions can be backed by hard data. There has been limited PR from the company and some of the releases whilst very professional, are quite technical. It has been widely reported that they are going on a bit of a PR drive in the next couple of weeks, with a podcast scheduled next week, so hopefully that will start to catch a wider viewing.
The great thing with this stock is that it is such little downside risk, I just dont see how one could loose at this crazy valuation. Its not really tied to the gold price at this stage either.
I just for the life of me cannot understand why some of the other pure speculation stocks, with no resource, no drilling, no guarantees of hitting anything have similar market caps to Landore. Sometimes you have to question the logic of the market. Some investors seem to follow company gifs, ramping nearology and over promises, rather than hard facts and value. I mean just look at the table above and tell me this is not undervalued.
Patience will win out, I have increased this to my No.1 holding now.
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In a way, I don’t mind us floating around the low 30s, i’ll just continue to buy and wait.
The numbers all seem to point to multiples of where we are today, and I’m in no rush.
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Another write up on Landore out today. Good summary as what they have and why it is undervalued.
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More Landore in the media - this is the best one. A really interesting podcast, he says he has already been in discussions with some of the big Canadian miners and is now talking about 4 million ounces. The current market cap is incredibly low (£35 million). Listen to the interview, I think it provides a clear indication as to where this is going.
“…We’ve done it before. This is going to be a proper mine. Someone will come in and assist Landore to that level or take us out…”
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Up to my second largest position now.
Post re: Landore Iron / Landore Nickel / Landore Gold bang on AM90. Will all come in time.
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May be of interest. Some notes from JK via telegram chat. Seems very fair to me.
NOTES ON LANDORE
LSE:LND
MCAP-£33m
106m shares in issue
Target £1.20.
Canadian focussed gold and base metals devloper based at Junior Lake Ontario Canada
Three substantial projects at Junior Lake, Gold—BAM deposit, Nickel/PGM—B47 & VW deposits & Iron Ore/Gold at Lamaune.
BAM GOLD
-1m Oz gold mainly indicated category, current main focus of the company with a 23km drilling campaign nearing completion. This should increase the overall resource to closer to 2m oz across all categories of resource.
-Current drilling is producing excellent grades and there are likely 3-4 more results RNSs prior to this years drilling completion.
-Significance of a resource approaching 2m oz is a major factor, globally no gold resources of 2m oz+ have been found for four years. A deposit of this size would be on the radar for Canadian majors.
-Valuation of this asset when using an average of other Canadian project developers is roughly $90 USD per oz in the ground. So currently that gives $90m for BAM with a likely uplift to something in the region of $140m at the low end after the resource is upgraded.
-The resource is still open in most directions including at depth, informed opinion dictates a potential resource of 5-7m oz would be possible across the full expected length.
B47 & VW Nickel EV Battery Metals.
-Nickel Sulphide/PGM/EV battery metal deposit that sits almost on the shoulder of the BAM gold deposit.
-5000kt of Nickel grading average 1.2%, deposit made up mainly nickel/copper/cobalt.
-Similar sized deposits in Canada are achieving $60m+ on their own TSXV:NICO
-Demand in North America for Nickel Sulphide deposits for EV batteries is high and the project would be a standalone flagship one for most metal juniors.
-Again the deposit is open at length and depth and could be quickly advanced to a PEA
-My valuation on this on a conservative basis is $50m
Lamaune Iron Ore Gold Project.
-Sits within the Junior Lake licence and hosts the Lamaune IOG deposit.
-300-500mt @ 25-35% Fe.
-50,000 Ni-43 101 compliant gold resource.
-Deposit starts in outcrops at surface and holds little to zero overburden.
-Comparable projects include LSE:BEM at 125mt similar grades but environmental issues at $40m mcap.
-Deposit is again open and could be much larger.
Negative Points
—Age of board, not sure when experience becomes a negative but there’s no young blood.
—Macros movements in metal prices.
Summary
Sum of the parts $190m value today which is £137m which is 4.15x the current mcap.
Upside valuation can come from all three deposits and a substantial uplift is due on the gold.
Management have a track record of selling assets to majors and have nigh on 7m oz of gold discoveries under their belt.
Cashed up with further funds due over 24 months from the recent sale of Miminsika Lake a none core asset.
First class jurisdiction. Fully permitted for development.
4-5x uplift from 31p to c £1.20 just to represent value of the current assets.
Perhaps the most undervalued metals play listed in London. Backed by Eric Sprott and is a real company over the conceptual fluff most hold
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