RE:RE:What $ 1 invested in African Gold Group is worth ADPhil will thankfully be distracted away from AGG for the next while, trying to rationalize the marginal Q3 results that Robex just released.
There is absolutely no way imho opinion that a 50k oz / annum small-scale producer, with the relatively miniscule reserves Robex currently possesses, with zero meaningful share liquidity because it's essentially a family business, whose just had a Mining Engineer shakeup obviously because the previous short and long-term mine plan made no sense, is sustainably worth its current $250 million marketcap.
Their main pit is nearing exhaustion and they are "hail marying" it on a couple of newer, smaller satellite pits plus some other as of yet unproven concession.
As for their M&A skills and aspirations, the quote from the Q3 report says it all :
We have initiated an early transformation process to prepare us to be able to handle a potential new project under better conditions
Which translated from the seemingly vague and confusing language means : we tried to "pinch" AGG, got caught and as punishment our hand was cut off, so we'll bide our time and hone our skills, while it hopefully grows back.
Now there is no question AGG has its own set of challenges, but we're talking about Robex right now and why on earth we are doing so on the AGG Board ? Except for the fact that Phil persists .