Lynnsa10

Here is the trade summary the day the stock sold down, lucky Friday the 13th. As you can see pretty much all anonymous selling, so for sure a fund Gambler and Pasta

 

House	Bought	$Val	Ave	Sold	$Val	Ave	Net	$Net
19 Desjardins	273,000	18,495	0.068	0		273,000	-18,495
79 CIBC	200,000	13,500	0.068	0		200,000	-13,500
2 RBC	101,000	6,630	0.066	15,000	1,005	0.067	86,000	-5,625
85 Scotia	53,000	3,645	0.069	0		53,000	-3,645
80 National Bank	30,247	2,027	0.067	0		30,247	-2,027
7 TD Sec	46,000	3,095	0.067	19,000	1,270	0.067	27,000	-1,825
33 Canaccord	5,000	375	0.075	0		5,000	-375
1 Anonymous	189,000	12,845	0.068	863,247	58,337	0.068	-674,247	45,492

RonS, nice update on B2Gold, I bought some more of it. I like your Conclusion

<b>Conclusion</b>

B2Gold is fully financed to complete their Fekola plans and completion of the Goose mine. As of June 30 financial s they had $467 million in cash and no debt. They also have available an undrawn credit facility of $700 million.

The negative factors on total gold production and costs will all vanish in late 2024 so 2025 will be a very good year. And production will grow further in 2026 as the Goose project has a full year effect. It is a high grade low cost mine.
<p align=”LEFT”>Also piled into 2024 is the total consolidated all-in sustaining costs per ounce reflect the final full year of spending on both the new Fekola Tailings Storage Facility (“TSF”) and the Fekola solar plant</p>
expansion, in addition to the ongoing substantial capitalized stripping campaign planned at Fekola for 2024.

A metric I often use is the enterprise value of ounces of gold in the ground. B2Gold has a total M&I resources of 19.6 million ounces. They have US$467 million cash and 1,311 million shares at US$3.30 = $4,326 Market Cap – $467M cash= $3,859 = US$197/ounce.

In 2022 Kinross acquired Great Bear Mining for US$1.8 billion. There was no resource number at that time but the recent Kinross PEA says 2.74M oz M&I resource for a value around $650 per ounce based on the 2022 buyout.

Very recent, Osisko’s (OSK) 50% of Windfall is being bought by Gold Fields for C$2.16 billion – $300M cash values the gold at C$1.86 billion or about US$1.37 billion. Osisko’s Windfall project has 4.1 M ounces M&I, so 50% of that is 2.05 million ounces. That takeover values those ounces at US668 per ounce.

Granted, these are both high grade projects selling for around $650 per ounce. I believe that B2Gold’s ounces for a producing company should be way higher than $197 per ounce. Should at least be double that.

I mention Kinross here and they produce about 2.1 million ounces per year and similar AISC as B2Gold of $1,360/oz. Kinross has 25.96 million M&I resources and a market cap of $11.5B + (1.23B debt less .48M cash) .75M = $12.25B/25.96 = US$472/ounce valuation.

The stock has languished with these over hanging issues and is not fully pricing in a turn around for 2025. The recent downward trend (blue lines) driven by the previous negative fundamentals appears to be broken and with a higher high this week. We also have a nice double bottom in 2024. The stock is a long way from it’s 2020 highs and I see $6 as a minimum target for this year/early 2025.

 

Pasta, the money raised was with Flow through Funds. They have done most of the last few financings.

Retail investors do not sell through Anonymous unless they are high wealth sophisticated investors.

I agree that some sellers are frustrated individuals, this has been going on the last 2 years in most junior expplorers

I just bought some Golden Lake at 6 cents, ridiculous how cheap when it is surrounded by discoveries and companies worth multiples more. It is simply the market we are in. I only have about 20% of my funds in these little guys, but the market will turn. As Struthers highlighted, we need to see the TSX Venture break 660

I’m scratching my head why a fund would want to sell in september just before drilling results are released, RonS talked about funds selling in april to raise money, but why are they selling now, and if there’s some majors that have an eye on Zonte’s projects, why aren’t they buying when the price is low, simple questions that aren’t easy to answer I guess, I presume majors are waiting for drill results before buying shares.

 

 

Yes big selling, hast to be Funds again through anonymous. But hey, somebody has bought that 750k shares

A seller, Anonymous as usual whacked the stock this morning. Good buy price, last at $0.065