₦airaland Forum

where are the gold

SohSoh:
BUY RECOMMENDATION – Japaul Gold & Ventures Plc (NGX: JAPAULGOLD)

Current Price (Oct 2025): ₦2.68  Target Price : ₦5  Upside: +100%

Recommendation: BUY (Strong Conviction)

Date: October 2025

⸻

INVESTMENT SUMMARY

Japaul Gold is Nigeria’s only listed company with direct gold exposure.

The ongoing global gold rally above $4,000/oz (Oct 2025) and Japaul’s improved financials, dividend resumption, and governance reforms make it a top Nigerian commodity stock.

⸻

KEY DRIVERS
• Gold Super-Cycle (2025): Safe-haven demand, Fed easing expectations, and central-bank accumulation have pushed gold to record highs.

Japaul’s subsidiaries —
Covenant Gems Ltd and H & H Mines Ltd — are positioned to capture value from this rally.

• Operational Recovery (H1 2025):
• Revenue (Jan–Jun 2025): ₦1.71 billion (+41 % YoY, vs ₦1.21 billion in H1 2024)
• Net Profit (Jan–Jun 2025): ₦420 million (+4 % YoY, vs ₦403 million in H1 2024)
• Cash & Equivalents (June 2025): ₦132 million (up 413 % from ₦26 million in Dec 2024)
• Dividend (2024 FY): ₦627.55 million total (₦0.04 per share, approved June 2025) — the first in years, signaling renewed financial health and confidence.

• Currency Hedge: As inflation nears 30 % and the naira slides (2025 YTD), gold offers a defensive store of value — Japaul provides indirect USD exposure through equity ownership.

⸻

NIGERIAN CONTEXT
• Oil Parallel (OPEC 2022–23): When OPEC supply cuts lifted Brent > $120, Nigerian oil stocks like Seplat and Oando rallied +80 %. The present global gold-supply tightening creates a similar tailwind for Japaul.

• Insurance Parallel (Insurance Industry Reform 2025): Regulatory reform and adoption insurance stocks like (AXA Mansard ,AIICO, Mutual Benefits appreciated in tradi g value Well over 100%).

Japaul’s improved governance mirrors that confidence-boosting effect.[b][/b]

OUTLOOK & CONCLUSION

Japaul Gold’s exposure to the $4,000+ gold super-cycle, rising profitability, and dividend resumption make it one of Nigeria’s most compelling commodity plays.
There for I’m giving it a BUY

faoogoke:
To think that it paid a dividend of 15k is appalling and unbelievable for a stock of N28.

It is only on NGX that this kind of things happen.

Na Indians get am

SohSoh:
BUY RECOMMENDATION – Japaul Gold & Ventures Plc (NGX: JAPAULGOLD)

Current Price (Oct 2025): ₦2.68  Target Price : ₦5  Upside: +100%

Recommendation: BUY (Strong Conviction)

Date: October 2025

⸻

INVESTMENT SUMMARY

Japaul Gold is Nigeria’s only listed company with direct gold exposure.

The ongoing global gold rally above $4,000/oz (Oct 2025) and Japaul’s improved financials, dividend resumption, and governance reforms make it a top Nigerian commodity stock.

⸻

KEY DRIVERS
• Gold Super-Cycle (2025): Safe-haven demand, Fed easing expectations, and central-bank accumulation have pushed gold to record highs.

Japaul’s subsidiaries —
Covenant Gems Ltd and H & H Mines Ltd — are positioned to capture value from this rally.

• Operational Recovery (H1 2025):
• Revenue (Jan–Jun 2025): ₦1.71 billion (+41 % YoY, vs ₦1.21 billion in H1 2024)
• Net Profit (Jan–Jun 2025): ₦420 million (+4 % YoY, vs ₦403 million in H1 2024)
• Cash & Equivalents (June 2025): ₦132 million (up 413 % from ₦26 million in Dec 2024)
• Dividend (2024 FY): ₦627.55 million total (₦0.04 per share, approved June 2025) — the first in years, signaling renewed financial health and confidence.

• Currency Hedge: As inflation nears 30 % and the naira slides (2025 YTD), gold offers a defensive store of value — Japaul provides indirect USD exposure through equity ownership.

⸻

NIGERIAN CONTEXT
• Oil Parallel (OPEC 2022–23): When OPEC supply cuts lifted Brent > $120, Nigerian oil stocks like Seplat and Oando rallied +80 %. The present global gold-supply tightening creates a similar tailwind for Japaul.

• Insurance Parallel (Insurance Industry Reform 2025): Regulatory reform and adoption insurance stocks like (AXA Mansard ,AIICO, Mutual Benefits appreciated in tradi g value Well over 100%).

Japaul’s improved governance mirrors that confidence-boosting effect.[b][/b]

OUTLOOK & CONCLUSION

Japaul Gold’s exposure to the $4,000+ gold super-cycle, rising profitability, and dividend resumption make it one of Nigeria’s most compelling commodity plays.
There for I’m giving it a BUY

No need louding the Japaul news. E go clear and people go talk

Jegede and Co abeg help us put am fuel

I remember months back Mordi said Ellah palm oil processing plant would commence operation. And no one is talking about it.

Two weeks is now over four months.

I'm out with my loot anyway but those still hoping on Ellah lakes get strong liver

zendi:
Many thanks.

Pls any news, any idea when Japaul might actually commence gold mining ?

I liken this enquiry to our speculations on Ellah's commencement of palm oil milling.

HesInMe:
What does VFD do? How do they make/lose money?

The company is considered your typical value investor company. They invest in public and private companies, businesses to drive shareholders value. They make money via proceeds of exits (sale of assets) from these companies, dividends and other synergies realized.

Their notable subsidiaries includes: VFD Microfinance Bank, VFD Group Ghana, VFD Group United Kingdom, VFD Tech, Anchoria Group (Asset management, securities, advisory). Invested companies includes: Abbey Mortgage Bank, Purple, CSCS, NASD PLC , NGX, Veritas Kapital Assurance, and others

BUY RECOMMENDATION – Japaul Gold & Ventures Plc (NGX: JAPAULGOLD)

Current Price (Oct 2025): ₦2.68  Target Price (Oct 2026): ₦5  Upside: +100%
Recommendation: BUY (Strong Conviction)
Date: October 2025


[ Last time I came here to give a BUY Recommendation for MECURE
The stock was trading at 11.50 in June 2025

Today MeCure is trading at 28

That’s a 143% return ]

The surge in gold prices beyond $4,000 per ounce in 2025 has led to a significant revaluation of publicly listed gold mining companies, underscoring the sector’s strong operating leverage and profit sensitivity to rising bullion prices.

Globally, leading producers have posted triple-digit year-to-date gains as of October 2025:
• Newmont Corporation (NYSE: NEM) has climbed approximately +126% YTD, fueled by record free cash flow and widening operating margins.

• Barrick Gold Corporation (NYSE: GOLD / TSX: ABX) has seen its stock more than double, driven by elevated profitability and increased dividend payouts.

• AngloGold Ashanti Limited (JSE: ANG / NYSE: AU)

Agnico Eagle Mines Ltd (NYSE: AEM / TSX: AEM)

Spot Gold :: XAU/USD

(Use TradingView or Investing.Com to view the chart)


Have each delivered returns above 100%, benefiting from stable production costs and the surge in gold prices.

This broad-based rally highlights the amplified profitability of gold producers:
⸻

Relevance to Japaul Gold & Ventures Plc (NGX: JAPAULGOLD)

Japaul Gold & Ventures Plc, the only Nigerian Exchange-listed company with direct exposure to gold mining, is strategically positioned to benefit from similar market dynamics.

Jupaul Gold :: Key parallels with global peers include:

Rising gold prices can significantly improve revenue and margins relative to its relatively stable extraction costs.
• Improved investor sentiment toward commodity-linked equities could trigger a valuation re-rating as investors seek local exposure to the global gold rally.
• Operational progress, particularly through subsidiaries like Covenant Gems Ltd and H&H Mines, provides the foundation for translating higher global gold prices into stronger domestic earnings growth.

With gold reaffirmed as a safe-haven asset amid global macro uncertainty, Japaul stands as Nigeria’s clearest proxy for exposure to the international gold uptrend.

⸻

Nigerian Context and Sector Parallel

The situation mirrors Nigeria’s 2025 insurance-sector revaluation, where reforms by NAICOM and improved transparency drove sharp gains in stocks such as AXA Mansard Insurance Plc (NGX: MANSARD), AIICO Insurance Plc (NGX: AIICO), and Mutual Benefits Assurance Plc (NGX: MBENEFIT) — many appreciating over 100%.
That rally was powered by renewed investor confidence and sector-wide optimism, dynamics now emerging in the gold-mining space.

Before you follow me to argue about Japaul
Please remember, when I wrote about MECURE

To juggle your memory ::: When I issued a BUY recommendation on MeCure in June 2025, the stock was trading at ₦11.50.
Today, MeCure is trading at ₦28 — representing an impressive 143% return.

June To Now is just 3 Months and the stock did 143% despite all the bashing

This article was published 5 [solid] years ago.

Since that time there has been little or no update. Are they using 5years to 'consult' with stakeholders?

SohSoh:
LINK1 : https://www.japaulgroup.com/japaul-gold-mining

LINK 2 :https://nairametrics.com/2020/08/20/japaul-exits-oil-sector-to-raise-n27-billion-as-it-switches-to-mining/

COPIED FROM THE ARTICLE IN LINK 2 : The Chairman also disclosed that Japaul is working with a Canadian firm, Matrix Geotechnologies Ltd, as the consultant for its new area of operation. The company has obtained licenses to mine gold, lead, nickel, and copper which it had identified in commercial quantities in various parts of the country.

Japaul also intends to buy up smaller companies that already have licenses to mine those minerals, as part of plans to boost its production.

::::::::::

SohSoh:
Before you follow me to argue about Japaul
Please remember, when I wrote about MECURE

To juggle your memory ::: When I issued a BUY recommendation on MeCure in June 2025, the stock was trading at ₦11.50.
Today, MeCure is trading at ₦28 — representing an impressive 143% return.

June To Now is just 3 Months and the stock did 143% despite all the bashing

The question is not if a stock will rise; the question is if a stock will beat Alpha (the index). The recommendation post mentioned Barrick Gold (Now Barrick Mining. On October 9th 2020 Barrick Gold was trading at $28 and today it is trading at $33. That is basically dead money.

I have been bullish on gold since gold was about $1500 (I even touted it in a podcast). Having said that, the best way to profit from gold is not necessarily by investing in the miners. Gold miners use a lot of energy and as diesel price goes up so does their costs but as with most sectors some miners are more efficient than others. Is Japaul an efficient miner? Have they even started producing gold?

Now that gold prices have rallied wanting to start a gold mine now will be a lot more expensive than it was 5 years ago. Mining equipment will be selling at a steep premium. Is any body considering this?

It is very possible that Japaul will Rally but I will not touch it. I don't have money to throw away based on illogical hype backed by innuendo and no numbers

Let me consult my dictionary...

nosa2:
The question is not if a stock will rise; the question is if a stock will beat Alpha (the index). The recommendation post mentioned Barrick Gold (Now Barrick Mining. On October 9th 2020 Barrick Gold was trading at $28 and today it is trading at $33. That is basically dead money.

I have been bullish on gold since gold was about $1500 (I even touted it in a podcast). Having said that, the best way to profit from gold is not necessarily by investing in the miners. Gold miners use a lot of energy and as diesel price goes up so does their costs but as with most sectors some miners are more efficient than others. Is Japaul an efficient miner? Have they even started producing gold?

Now that gold prices have rallied wanting to start a gold mine now will be a lot more expensive than it was 5 years ago. Mining equipment will be selling at a steep premium. Is any body considering this?

It is very possible that Japaul will Rally but I will not touch it. I don't have money to throw away based on illogical hype backed by inuendo

nosa2:
The question is not if a stock will rise; the question is if a stock will beat Alpha (the index). The recommendation post mentioned Barrick Gold (Now Barrick Mining. On October 9th 2020 Barrick Gold was trading at $28 and today it is trading at $33. That is basically dead money.

I have been bullish on gold since gold was about $1500 (I even touted it in a podcast). Having said that, the best way to profit from gold is not necessarily by investing in the miners. Gold miners use a lot of energy and as diesel price goes up so does their costs but as with most sectors some miners are more efficient than others. Is Japaul an efficient miner? Have they even started producing gold?

Now that gold prices have rallied wanting to start a gold mine now will be a lot more expensive than it was 5 years ago. Mining equipment will be selling at a steep premium. Is any body considering this?

It is very possible that Japaul will Rally but I will not touch it. I don't have money to throw away based on illogical hype backed by innuendo and no numbers

Innuendos and Nimini-pimini

Thanks. The question was a little tongue-in-cheek. I'm not sure most people understand what VFD does and, unless one is a very long-term investor, why one should invest in the stock.

How, for instance, do they generate recurring revenues and profits with all these illiquid non-public holdings?

courage89:
The company is considered your typical value investor company. They invest in public and private companies, businesses to drive shareholders value. They make money via proceeds of exits (sale of assets) from these companies, dividends and other synergies realized.

Their notable subsidiaries includes: VFD Microfinance Bank, VFD Group Ghana, VFD Group United Kingdom, VFD Tech, Anchoria Group (Asset management, securities, advisory). Invested companies includes: Abbey Mortgage Bank, Purple, CSCS, NASD PLC , NGX, Veritas Kapital Assurance, and others

nosa2:
The question is not if a stock will rise; the question is if a stock will beat Alpha (the index). The recommendation post mentioned Barrick Gold (Now Barrick Mining. On October 9th 2020 Barrick Gold was trading at $28 and today it is trading at $33. That is basically dead money.

I have been bullish on gold since gold was about $1500 (I even touted it in a podcast). Having said that, the best way to profit from gold is not necessarily by investing in the miners. Gold miners use a lot of energy and as diesel price goes up so does their costs but as with most sectors some miners are more efficient than others. Is Japaul an efficient miner? Have they even started producing gold?

Now that gold prices have rallied wanting to start a gold mine now will be a lot more expensive than it was 5 years ago. Mining equipment will be selling at a steep premium. Is any body considering this?

It is very possible that Japaul will Rally but I will not touch it. I don't have money to throw away based on illogical hype backed by innuendo and no numbers

Xmas ram is not negotiable

1 :: Let it be known that this was the same energy ya'll gave my MECURE buy Recommendation... but today MECURE appreciated well over 143%

2 :: All the factors you are considering such as diesel, energy.. is acknowledge but also remember that other gold mining compnay have similar operations and yet, the stock appreciated

3 :: The rally is happening because Now Gold is considered a safe haven asset, and asset are usually held for a long period of time, so this rally is not a blip ....

4 :: did ya'll perform, your own research before writing what you are writing about Japaul
But pls remember, My MECURE BUY RECOMMENDATION.... in June 2025, and today 3 months later, MECURE appreciated well over 100% ....

nosa2:
The question is not if a stock will rise; the question is if a stock will beat Alpha (the index). The recommendation post mentioned Barrick Gold (Now Barrick Mining. On October 9th 2020 Barrick Gold was trading at $28 and today it is trading at $33. That is basically dead money.

I have been bullish on gold since gold was about $1500 (I even touted it in a podcast). Having said that, the best way to profit from gold is not necessarily by investing in the miners. Gold miners use a lot of energy and as diesel price goes up so does their costs but as with most sectors some miners are more efficient than others. Is Japaul an efficient miner? Have they even started producing gold?

Now that gold prices have rallied wanting to start a gold mine now will be a lot more expensive than it was 5 years ago. Mining equipment will be selling at a steep premium. Is any body considering this?

It is very possible that Japaul will Rally but I will not touch it. I don't have money to throw away based on illogical hype backed by innuendo and no numbers

139m Nigerians Living In Poverty – World Bank


https://dailytrust.com/139m-nigerians-living-in-poverty-world-bank/

JAGABANomics

@ Nosa2
Have you considered Japaul May acquire an existing gold mining/refining companies?
They already have good number of reserves in some of the subsidiaries.

If only they can give us some updates about this gold investment.

All I can see now is Japaul price rally

If you invested ₦1,000,000 on 2 January 2025 in stocks in the ICT sector, this is what it is worth now…

1 NCR Nigeria — ₦3.20 million
2 E-Tranzact — ₦2.46 million
3 CWG — ₦2.17 million
4 MTN Nigeria — ₦2.13 million
5 Chams Holding — ₦1.80 million
6 Omatek Ventures — ₦1.64 million
7 Airtel Africa — ₦1.07 million
8 Briclinks Africa — ₦1.00 million

If you invested ₦1,000,000 on 2 January 2025 in stocks in the Healthcare sector, this is what it is worth now…

1 Fidson Healthcare — ₦2.77 million
2 Neimeth Pharm — ₦2.69 million
3 Mecure Industries — ₦1.88 million
4 May & Baker Nig — ₦1.69 million
5 Ekocorp — ₦1.00 million
6 Pharma-Deko — ₦1.00 million
7 Morison Industries — ₦803K

If you invested ₦1,000,000 on 2 January 2025 in stocks in the Financial Services sector, this is what it is worth now…

1 Mutual Benefits — ₦5.98 million
2 AIICO Insurance — ₦2.58 million
3 NEM Insurance — ₦2.51 million
4 Sovereign Trust Ins — ₦2.43 million
5 Abbey Mortgage — ₦2.27 million
6 NGX Group — ₦2.20 million
7 Royal Exchange — ₦2.13 million
8 Regency Assur — ₦2.07 million
9 Wema Bank — ₦1.90 million
10 StanbicIBTC H — ₦1.89 million
11 Int'l Energy Insur — ₦1.81 million
12 Universal Insur — ₦1.76 million
13 AXA Mansard Insur — ₦1.76 million
14 NPF Microfinance — ₦1.75 million
15 Linkage Assurance — ₦1.75 million
16 Guinea Insurance — ₦1.75 million
17 GTCO — ₦1.68 million
18 Cornerstone Ins — ₦1.68 million
19 Veritas Kapital Assu — ₦1.54 million
20 Zenith Bank — ₦1.52 million
21 Sterling Financial H — ₦1.40 million
22 Deap Capital Mgt — ₦1.40 million
23 LivingTrust Mortgage — ₦1.39 million
24 Prestige Assur — ₦1.39 million
25 Coronation Insur — ₦1.38 million
26 UBA — ₦1.26 million
27 Ecobank (ETI) — ₦1.26 million
28 Fidelity Bank — ₦1.17 million
29 FCMB Group — ₦1.16 million
30 Consolidated Hallmark — ₦1.16 million
31 First Holdco — ₦1.11 million
32 Access Holdings — ₦1.08 million
33 African Alliance Ins — ₦1.00 million
34 ASO Savings — ₦1.00 million
35 Infinity Trust Mortgage — ₦1.00 million
36 Staco Insurance — ₦1.00 million
37 Unity Bank — ₦1.00 million
38 Lasaco Assurance — ₦939K
39 United Capital — ₦931K
40 Africa Prudential — ₦725K
41 Sunu Assurances — ₦540K

https://nairametrics.com/2020/08/20/japaul-exits-oil-sector-to-raise-n27-billion-as-it-switches-to-mining/

Japaul also intends to buy up smaller companies that already have licenses to mine those minerals, as part of plans to boost its production.

nosa2:
The question is not if a stock will rise; the question is if a stock will beat Alpha (the index). The recommendation post mentioned Barrick Gold (Now Barrick Mining. On October 9th 2020 Barrick Gold was trading at $28 and today it is trading at $33. That is basically dead money.

I have been bullish on gold since gold was about $1500 (I even touted it in a podcast). Having said that, the best way to profit from gold is not necessarily by investing in the miners. Gold miners use a lot of energy and as diesel price goes up so does their costs but as with most sectors some miners are more efficient than others. Is Japaul an efficient miner? Have they even started producing gold?

Now that gold prices have rallied wanting to start a gold mine now will be a lot more expensive than it was 5 years ago. Mining equipment will be selling at a steep premium. Is any body considering this?

It is very possible that Japaul will Rally but I will not touch it. I don't have money to throw away based on illogical hype backed by innuendo and no numbers

If you invested ₦1,000,000 on 2 January 2025 in stocks in the Consumer Goods sector, this is what it is worth now…

1 Champion Brew — ₦3.96 million
2 Vitafoam — ₦3.47 million
3 Honeywell Flour — ₦3.45 million
4 NASCON Allied — ₦3.06 million
5 Cadbury Nigeria — ₦2.99 million
6 Guinness Nigeria — ₦2.62 million
7 Int'l Breweries — ₦2.43 million
8 Nigerian Breweries — ₦2.32 million
9 Unilever Nigeria — ₦2.22 million
10 McNichols — ₦2.20 million
11 Nestle Nigeria — ₦2.14 million
12 NNFM — ₦2.13 million
13 Nig Enamelware — ₦2.00 million
14 Dangote Sugar — ₦1.88 million
15 PZ Cussons — ₦1.56 million
16 BUA Foods — ₦1.52 million
17 Union Dicon Salt — ₦1.13 million
18 DN Tyre & Rubber — ₦1.00 million
19 Multi-Trex Foods — ₦1.00 million
20 Golden Guinea Brew. — ₦822K

If you invested ₦1,000,000 on 2 Jan 2025 in stocks in the Construction/Real Estate sector, this is what it is worth now…

1 UPDC — ₦4.33 million
2 Smurfit — ₦3.60 million
3 Chapel Hill Denham Infrastructure Debt Fund — ₦1.01 million
4 Ava Infras Fund — ₦1.00 million
5 Ronchess Global Res — ₦1.00 million
6 Julius Berger — ₦879K
7 Haldane McCall — ₦858K

If you invested ₦1,000,000 on 2 Jan 2025 in stocks in the Conglomerates sector, this is what it is worth now…

1 Chellarams — ₦4.39 million
2 SCOA Nigeria — ₦3.20 million
3 Custodian Inv — ₦2.47 million
4 UACN — ₦2.13 million
5 Transcorp — ₦1.15 million
6 John Holt — ₦1.02 million

If you invested ₦1,000,000 on 2 Jan 2025 in stocks in the Agriculture sector, this is what it is worth now…

1 Ellah Lakes — ₦3.88 million
2 FTN Cocoa — ₦3.21 million
3 Presco — ₦3.12 million
4 Okomu Oil Palm — ₦2.30 million
5 Livestock Feeds — ₦1.77 million

Tomorrow being Friday I will buy more Japaul as my gold reserves.

The gold rally will be a talk of the town in 2026.
It has been considered a new safe heaven.

More gold news means breakout for Japaul.

E go be like fire outbreak 🔥

essentialone1:
If you invested ₦1,000,000 on 2 Jan 2025 in stocks in the Agriculture sector, this is what it is worth now…

1 Ellah Lakes — ₦3.88 million
2 FTN Cocoa — ₦3.21 million
3 Presco — ₦3.12 million
4 Okomu Oil Palm — ₦2.30 million
5 Livestock Feeds — ₦1.77 million

ELLAH leading the table 😘

Locotrader:
Tomorrow being Friday I will buy more Japaul as my gold reserves.

The gold rally will be a talk of the town in 2026.
It has been considered a new safe heaven.

More gold news means breakout for Japaul.

E go be like fire outbreak 🔥

Loco can market anything

https://hdlne.me/https://lifeasananalyst.substack.com/p/dangcem-tops-volume-and-value-tables

Daily market summary for today

KarlTom:
This article was published 5 [solid] years ago.

Since that time there has been little or no update. Are they using 5years to 'consult' with stakeholders?

Since that time I think it's only gravels and quarries they've found in commercial quantity.

zendi:
Since that time I think it's only gravels and quarries they've found in commercial quantity.

At least that one suppose give them 10kobo dividend

11billion Naira entered dang cement today. Pple no dey fear CGT again

Locotrader:
@ Nosa2
Have you considered Japaul May acquire an existing gold mining/refining companies?
They already have good number of reserves in some of the subsidiaries.

If only they can give us some updates about this gold investment.

All I can see now is Japaul price rally

If you had a gold mine right now and you were selling would you sell at a discount or premium?

Growth by acquisition is not always a good thing.