Jason Phillips

@edissuper Don’t forget Juncal potential. I think market will be positively surprised with the results over next few weeks

$AGLD.v $AGD.ax $AGLDF - FWIW here's what Claude thinks in terms of comp vs $CERT.v, $APM.v, $MKO.v and $GSVR.v Austral Gold (ASX:AGD) — valuation vs peers Peer set: Cerrado Gold (TSXV:CERT), Andean Precious Metals (TSX:APM), Mako Mining (TSXV:MKO), Guanajuato Silver (TSXV:GSVR); AGD trades at ~US$66m market cap and EV (net cash positive at +US$0.6m), the smallest in the group. EV per FY26 ounce of production is ~US$2,360/oz — versus Cerrado ~US$3,235/oz, Andean ~US$5,750/oz, Guanajuato Silver ~US$6,140/oz, and Mako ~US$10,890/oz. EV per total resource ounce is ~US$65/oz — versus Cerrado at ~US$291/oz and Mako at ~US$340/oz, a 4–5x discount on the closest direct comp. The valuation gap is widest against Cerrado Gold, the cleanest single comparable (also Argentina-exposed, similar scale, similar processing route). Balance sheet is a genuine peer strength: net cash positive, with US$24.3m cash against US$23.7m debt, no near-term refinancing wall. Reserve grade at Casposo (1.31 g/t Au + 58.5 g/t Ag) is competitive with peers; Guanaco's heap-reprocessing material is lower grade but very low cost. The discount has three legitimate drags: sub-scale at ~28koz GEO, Argentina FX overhang on Casposo, and Elsztain/IFISA governance optics around the Challenger toll deal. Standard production multiples miss the contracted Challenger toll fee stream (US$1.32m/yr fixed plus incentive margin through 2028) — a quasi-streaming income worth ~US$10–15m of standalone EV. Sum-of-the-parts using a 25% discount to Cerrado's already-cheap multiple lands at ~US$96m equity value — roughly +45% upside to current trading. Bull case to ~US$140m (+110%) requires a Q2 2026 Guanaco resource update surprising positively, full Hualilán incentive fees crystallising at current gold prices, and continued FX stability in Argentina.

@bowtiedstocks @ValueEric For what it’s worth when I tried to dig into this one a year or so ago I stumbled across some pretty dodgy characters associated with the original Business this became. Smelt fishy.

@ValueEric Any updated thoughts on this one Eric ?

$CLG.AX Close the Loop MC 13,8M Net debt 50M Packaging business 7M normalized profit Refurbishing business 15M normalized profit Temporary(?) problems in refurbishing business created this opportunity Mexicaly facility fully operational High insider ownership This stock is HATED

@ChuckChunder007 Mysteriously stopped reporting monthly production updates 😂

Almost 5 years after securing its EIA, $JGH completes it first step towards a gas production licence. I'm so excited!

@Edark94 Have they every delivered anything other than a shot quarter?

I'm anticipation of a shite quarter, people are selling en masse $EQR.AX looking rather cheap down here tho, probably pricing in a bit too much pain tbh.

@respeculator @bowtiedstocks They aren’t able to increase due to truth in takeovers rules though right? So essentially over for now u less another bidder emerges to tap them back in?

@bowtiedstocks “On balance”, “on the information currently available”, “in its current form”…. Seems like door ajar talk not door closed talk.. but guess it depends on the bidder/s.

$MVF.AX Monash IVF - the Board has rejected the Genesis Capital revised $0.90 offer It looked ok to me, relative to financials and recent business performance Now the business will squarely need to focus on lifting performance and delivering for shareholders

@Milinkoeterno More excitingly updated technical report due for guanaco soon also 🤞🤞 Likely to highlight that there will be meaningful production growth via new satellite open pits. Also Juncal exploration… I suspect some very impressive initial silver grades….

Austral Gold is scheduled to present its results on April 30th. I hope everything will be clear by then. (It might take a few extra days or be published sooner)

@finphysnerd Spoke to the MD. I like him. Take a look at their office “cheapest office in Sydney” was the first thing he mentioned to me 😂

@JasonPhill40479 Interesting, I really worry about the capital allocation here. A lot of cash built up on the balance sheet. Dirt cheap though. Thanks

$MDV is probably my highest conviction position in my portfolio rn. However due to liquidity constraints I can't size it up as large as I would like it. I've never really had this problem before😂

@finphysnerd Started paying dividend last year

@finphysnerd 3. CIO is the real upside catalyst - take a look at British king deposit. Right next to Darlot which Vault have said they might reopen. CIO just finished updated technical report with an FS and ML application to come this year. Value of that despot is probably $100m+

@finphysnerd A couple of things: 1. Deflector royalty about to massively inflect higher as vault paid out all the hedges - so cashflow about to inflect 2. Hunter property sales to clear out c$4m of property - MD has admitted it was a bad call

@invdiary Also I spoke with the MD recently and really liked him. Seemed very honest / reliable.

@invdiary Have you done much work on the CIO deposits? I actually think there is some real value there

You can see a screenshot of my performance over the previous 12 months. My portfolio as of today: $LM8.AX (printing gold reserves) $BML.AX (uses hydro power, little diesel), $BKB.AX (US mine restart), $GUL.AX (a royalty + exploration + cash), $MM8.AX (80oz target!!), $GWR.AX (tungsten exploration+ $TGN.AX shares+cash+royalty), $SHE.AX (oil exploration + a lot of cash), $TAL.TO (cheap oil producer) $DGR.AX (exploration + going to get a lot of cash from $SOLG.L shares sale + other assets) I want to thank @jaconet1967 @ShowerCapAM @GoldForecast @Spread_Bet @DavidLe76335983 @kcc582 @Premski_SGP @calvinfroedge for the insights, exchange of thoughts and analysis. Gold miners still make up the largest share of my portfolio. I also have significant exposure to silver. Gold miners offer asymmetric returns in almost any scenario (see the reposted text). Let me know what you think about this portfolio. Feel free to DM me if you want to make friends and exchange thoughts (or, if we’re not connected, just follow me - I’ll follow back so you can message me) If you want to copy trade, don't forget to repost this when you're done buying 🤣

@qthomp You are giving too much credit to our Prime Minister… no way he gets advanced warning on US military action

This was obvious they knew something (and still do…likely RE boots on the ground). While Trump tried to sound dovish in his speech, confirming multiple more weeks of operations confirms continued Strait closure and shit is going to get real for countries short commodities.

@respeculator Not a terrible analogy for what CLA should be able to secure? MCB gold production roughly 30koz pa so roughly double KGN? Yes PH risk but double the gold tells you a stream deal should be able to cover capex

Looks like a decent deal to me.. A$150m company getting A$430m in proceeds for a stream (75% of PM's at 20% of spot).. will still get 30ktpa Cu (~A$550m revenue) from 1.6mtpa (~A$350/t NSR plus PMs). $KGL.AX

@ShitValueFund $AGD.AX best r/r from here. Market cap: $80m Probably just printed close the $30m in the quarter just gone.

No one is expecting gold to rip.... Watch and learn..... Bottom is in! Loaded to the tits

@88888sAccount $AAU.ax

@SniffRocks @ShitValueFund Fair, strategic at a premium… I guess… Please be right, need as much help as I can get

@JasonPhill40479 @ShitValueFund Not all raises are bad

Dogs $AUE capital raising at what 50c? While their mates at montage dumped it at 70c+

@SniffRocks @ShitValueFund How could it be good news given its. Capital raise 😂?

@ShitValueFund @ShitValueFund take it all back i've heard it's good news 😂