Stefan Bernstein explains how the EU/Greenland critical raw materials partnership benefits GreenRoc. Watch the full video here.
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Really like M4 prospect. RC Drilling is a return back to the 3 diamond holes drilled in 2018. Hit a nice Breccia mineralised zone at some ok CU%. Open along strike zone . If that returns back some healthy results then i think it will be a JV on both locations. I believe the JORC is 29k ton of Copper at M2 but that could well expand if we get a partner to help us. As i keep saying, this is a hidden Gem of a share. Need to make sure the BOD don't fudge things up, currently i have confidence in them as they have done everything they said they would since I invested last year
San
San
If GWMO can get their copper play back on the agenda and demonstrate viability with the newly added M2 drilling then as Copper is 'Resource De Jour' then a considerable rerate is on the agenda. My other 2x copper exploration plays are currently sat at much higher MCaps but differ in scale and advancement to GWMO.
> Castillo (AIM:CCZ) - very much early doors high-grade copper exploration in Aussie = £23m MCap & JORC planned Q2
> Arc Minerals (AIM:ARCM) - advanced copper exploration play in Zambia = £73m MCap & no JORC, but interest from Majors and small scale production and very decent £20m+ FCF in 12-18m
By contrast GWMO is MCap = £8m of which £2m is cash with a modest JORC copper resource and modest near-term revenue from Tailings production and a good side line in Gold/Silver exploration. An enticing prospect !
GLA APR
@Mcadder My suspicion is that M2/M4 drilling is back on the agenda because the light drilling rig & target location is relatively cost effective to drill, the BoD are flush with cash and most importantly copper is up 50% from when the project was shelved in Nov-2019 substantially transforming the resource economics for the better.
IF the planned drilling can demonstrate resource continuity between M2 and M4 targets, as was their original aim before they got side-tracked by their ill-fated Sharkstooth moonshot, then the JORC resource will also scale up considerably. To put it mildly IF all these things align it would be a game-changer for GWMO as a copper JV would become not only viable, but considerably more attractive as would the JV terms for GWMO as the project risks would diminish.
ATB APR
Mcadder, like you, I am intrigued by GWMO's addition of copper drilling, after previously stating their intention not to do so. This for me was the standout piece of news in the RNS.
The logical conclusion to draw from this is that GWMO see potential for a JV on copper. This would seriously rerate this share.
Then there's gold and silver on top of that.
Genuinely exciting times ahead I feel
https://www.thisismoney.co.uk/money/article-9135083/amp/SMALL-CAP-SHARE-IDEAS-Great-Western-Mining.html
11th Jan 2021
For the copper side of things this was the company stance back in January....
M1 and M4 lead to copper
"And, of course, there is still a copper play – the M2 and M4 projects and the M1 and M8 targets in Nevada."
Great Western hasn’t written off the asset but has instead set up a data room for companies interested in developing them.
"I’d be thrilled if someone came to us, but it’s not a priority," says Hall.
"I believe trying to find precious metals is a much better way to spend our time and our shareholders’ money. I thought that from the very start; when I was a non-executive director and first went to Nevada in 2014."
I'm genuinely intrigued by latest RNS in the sudden change of strategy by the company to do trial drilling at the M4 copper target where specifically they will be using a light portable 2 man coring rig at M4 as well as MJ. Because not long ago the company had effectively shelved the copper to concentrate on gold/silver. Now it looks like they are going to do both!
A near surface intercept of a large copper-rich breccia vein at M4 is the drill target, the objective being to.....
"appraise the copper potential at minimal cost with a view to attracting a larger industry partner to join the Company in exploitation of its copper potential."
Maybe we've had a bit of interest from a big mining company? Even if we haven't there's the potential for the copper asset to be massively upgraded at low cost. Win win situation.
Aside from this the lab results show commercial viability. "promising new material" has been recovered from the never previously mined area of RH and the company have moved swiftly to acquire new land to the east of existing claim holdings at Olympic for potential offset of gold veins there. Target gold production of gold alone from existing licence areas are between half a million and 1.5 million ounces.
But Olympic could turn out to be big and our potential for recovery of gold could run into the millions of ounces if they get a good hit there with the continuation of a gold vein beyond the fault there along with perhaps another discovery of a gold vein at RH and MJ.
Good thing about our prospects is that we are in one of the friendliest mining districts of the world with historical high grades previously mined and potential for gold recovery near to the surface.
Copper is not priced in. Without this and with 1 or 2 gold vein discoveries along with an increase in production we could be talking 1-1.5p
IF the company were to secure a jv for the copper asset then we are easily looking at anywhere between 3-5p
Filter - how high do you think IYO?
One day we'll see fair value here, hoping it's worth the wait!
You would think it's only going up from here, question is how high
@mcadder 100% agree ... reading through the RNS the drilling commencement alone is significant but adding in increased Olympic licence area and revisiting M2/4 copper resource are both wise and significant in their own right.
Nice RNS & I sincerely hope this is the shape of RNSs to come as the 2021 programme progresses !
ATB APR
Nice update. Extending the acerage at Olympic is a GOOD sign. Must be quite a few trumpets there lol. Drill rig sorted, contractor sorted and soon to drill another GOOD sign.
To drill at M4 Copper target...."objective of drilling at M4 will be to appraise the copper potential at minimal cost with a view to attracting a larger industry partner to join the Company in exploitation of its copper potential"
I smell a JV coming potentially later this year. Another GOOD sign.
Plus....."Laboratory test results indicate commercial viability of processing gold and silver through gravity separation"
So we have confirmation of "COMMERCIAL VIABILITY" again another GOOD sign.
Honestly if anyone thinks today's update is disappointing they need to re-check to make sure they opened the right RNS announcement!
Just because it's not flying right now doesn't mean it's not good. 2021 is the year for GWMO and they're already off to a good start.
The share price isnt going to change significantly on that news as Drilling hasnt commenced, it is an update on when it will. The markets usually tend to drive the share price up on drilling start and then closer to the expected results will shoot it up, before dropping it on news. April isnt far away so hold tight and this will move soon enough. I thought the RNS was excellent from a detail perspective. Im happy that they are going for Olympic first as i think that is the big one and i hope to see some big grades at low depth like the legacy sampling at MJ.
San
Very reasonable topup for mui, just under o.25p to help average down my holding....(only need o.30p now to breakeven....)
Hopefully not too long now to come out underwater after nearly drowning.....
GLA.
They starting copper aswell but looking for a parner about time finally. But with held up and delays its cost the company money.
Jay my guess was a good shot
nothing is going to change
.24 to .26
Opening price anyone ?