Is it possible that this tiny little company is sitting on all that resource?,this report /link would imply it is. Obviously very speculative at this stage but a market cap of circa 21 million but a potential find of $1.2 billion and possibly double that as leaks from the recent AGM hit the B/B community.

Ive had a speculative investment, sorry that should read bet in this company today. It takes some believing and being the sceptical/cagey devil that I am, im just trying ways of basicaly trying to put myself of this company.

If anyone is interested I suggest you do your own research and dont throw money away that you cant afford. Remember I believe its highly speculative

Heres the report....

http://www.proactiveinvestors.co.uk/articles/article.php?LND



DYOR

It could be, goldfinger.

My problem with little miners is they always need more money and help to get it out the ground no matter how much it is worth once mined and processed. How many have you seen fail spectacularly? As you say, highly speculative!! ;-)

I considered buying a small tranche as a punt yesterday. Maybe today, we'll see. Of course, it needs the herd!! LOL

Spot on AL.

But its doing nicely at the moment and theres not that many of the crowd in yet.

from the times today.....Landore Resources was one of the speculative plays, rising 3p to 21p on expectations of a drilling update within the next fortnight. The Canadian group has more than doubled in value in a month since James Packer, the heir of Kerry Packer, took a stake. But any hope of a takeover looks premature, analysts said, with Landore likely to take about a year to show its route to production.

Steaming away today: LND Bid: 23.25p Offer: 24p Change: 3.25

Remembering the recent performance of TMC, it's possible that this could continue to rise quite significantly in the near term, in spite of alreaady having double within a few weeks. Okay, TMC is actually producing, but the climate seems favourable to such mining stocks.

IMO/PDYOR

Yep it is going some ST. Like I said earlier if that above report is anywhere near accurate we could have a multi bagger on our hands.

Thanks janesteve for that report.

for those who havn't already done some simple fag packet calcs

Taking 'guestimated' Inferred resource of $3000M in the ground or about 1400M... 122M shares approx... would give 11.50/share. We know they obtained 20% plus in ground value for their last resource sold (Esquel) as Brancote Holdings....

2 plus 'possible'...yes please

DYOR

GF, I was working on the basis of a minimum 10% valuation of VW, which I calculated would be 35 mil (taking nickel at $48,000 and including the copper at $6,000, in total worth approx $700 mil), or 28.7p per share (just to "prove" to myself that there must be some upside!).

Add Junior Lake/B4-7's lower estimate of 9,000t Ni and 6,000t Cu and you can add $468 mil, of which an NPV of 10% gives you another 23 mil, or 18.8p/share, for a total of 47.5p per share.

Which is twice the current SP. Goldinger's 2 quid would be nice, though (what's the chance of it reaching this within my T+25 margin trade? Or, to put it another way, should I just place an order for a Porsche Cayman?) A man can dream. Just some decent profits would be nice :o)

Please feel free to quibble my sums. I shall have a gander at the Proactive Investors report (thanks GF for posting!), which I am sure will make interesting reading.

Re-reading the report and the RNS relating to West Graham, I'm pleased to see that there is enough interest there to warrant further drilling. Originally, I was uder the impression that "lower grade mineralisation" implied that the site wasn't viable. 0.51% Ni doesn't sound like much, but is still okay, especially if cost savings implied for Junior lake are also available at W. Graham.

Ill take 47.5p ST any day but if you read that report you could be well undervaluing this one.

Think there could be big rises to come tomorrow.

My limit order was not filled yesterday whilst I was sleeping. Ne'er mind.

Set the thing a little low! ;-)))

Sorry, GF - looks like profit-taking is on the breakfast menu at Landore: LND Bid: 21.5p Offer: 22.5p Change: -0.75

So, Big Al, looks like you've got a chance to get in more cheaply :o)

GF, re "undervaluing", experience shows that these miners take a long time to reflect the NPV of their projects in their share price. Billions of dollars' worth of resources (or reserves, which are the better of the two) do not immediately translate into billions of pounds of market capital, as you're well aware. Hence my cautious approach to valuation.

Again, TMC is valued at just below 100 mil, and it is already producing, whilst having three very large resources. LND is still proving up its resources and so may take a while to reach that kind of valuation.

IMO/WDIK, etc. But I hope there's a bit more steam left in the recent run-up, given that miners have been so popular.

Yep Id agree with you on your opening point ST.

Still think theres a lot more in this short term.

Was bound to have a profit taking day after the strong run its just had.

Added again on the pull back.

Congratulations on your timing, GF. I certainly hope there is more in the short term. Having stuck my neck out and bought a large chunk of this at pretty much the high point yesterday, I am doing my best to keep a cool head.

Are we not expecting drilling results in a couple of weeks?

Goldfinger, apologies for O/T, but take a look at GOC. SP: 117p, estimated EPS for 2007 - 2008: 23p. Loads of very useful info in the RNS's and on thread.

st - you were right. Checked this evening and order was filled. ;-)) Not a large position, but may depending on how things go.

Consolidating at the moment.

I expect more activity possibly as early as monday on a drilling report.

Al, glad you're in - and hopefully at a price with which you are comfortable.

GF, I would be very happy indeed if we see some good news on Monday.

Very comfortable with this one ST.

There was bound to be profit takers coming up to the weekend.