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JLP, I think presented with the opportunity it would have been very difficult for Slater to resist. However, in the long run it is a fantastic testimony to the belief in Jubilee. If there is any smoke there, I think we will now see a very quick reversal in the share price as a consequence. Maybe Slater gave us all a chance to load up!
He was the placing shares buyer, obviously........
I'm a little surprised that Slater buying such a large additional stake didn't shift the share price more. Do we think that he bought a chunk of the placing shares hence the lack of movement or am I barking up the wrong tree?
Caerus Mineral Resources (LON: CMRS), the exploration and resource development company focused on developing mineral resources in Europe to support the global "Clean Energy" initiative, is pleased to inform Shareholders that diamond drilling for Resource definition has commenced at the Troulli Project one month ahead of schedule.
The diamond drill rig scheduled to arrive in Cyprus in October has been delivered to site almost a month early. The rig was transferred to the Troulli Project site on Friday 17 September 2021 and commenced drilling on Monday 20 September 2021.
Highlights
· The Resource evaluation programme scheduled for Troulli Project has commenced ahead of schedule
· Hard rock samples will be collected and delivered to Jubilee Metals Group ("Jubilee") for further detailed mineralogical test work
· The Company will capitalise on the current availability of both a diamond and a scout drill rig to run two drill programmes in parallel
· Access to low-cost scout drill data enables the Caerus exploration team to broadly define legitimate targets well-ahead of more costly diamond drilling and the definition of potential Mineral Resources
· Diamond drilling will initially focus on sulphide mineralisation in the former Troulli open pit, extensions of the pit, the high-grade gold oxide zone and underlying sulphide mineralisation.
· Scout drilling will operate in advance of the diamond rig testing the 1.5km long structure hosting impressive evidence of hydrothermal activity (a prerequisite for Volcanogenic Massive Sulphide formation) that may link the Troulli deposit with the Kokkinapetra deposit.
· Scout drilling will also test the 32,000m2 surface area covered by gold oxide mineralisation at Kokkinapetra and test for underlying sulphide mineralisation.
· Once scout drilling is completed, the rig will relocate to other priority targets within the Caerus project portfolio and delineate mineralisation in anticipation of follow-up by diamond drilling
The rig will drill-out a variety of resources and targets provisionally defined by the recent scout drilling programme with the purpose of defining an NI 43-101 Mineral Resource and will provide high-quality fresh samples for further mineralogical test work being undertaken by Jubilee Metals Group ("Jubilee").
Commenting on the dual drill programme, chief executive officer Martyn Churchouse said; "The preliminary work undertaken over the past few months is starting to deliver results and the benefits of having two drill rigs available to us on a full-time basis is becoming evident. We have a well-defined drill programme prepared for Troulli and depending on the results of the scout drilling we expect to be able to roll out the diamond programme to include the prospective structure linking the Troulli and Kokkinapetra deposits and potentially increasing resource tonnes well beyond our projected estimates".
More news out of Cyprus
According to the previous TR-1 issued by Slater, Slater owned 121,300,000 shares and now own 271,463,789, which is fantastic.
According to the JLP website, Slater already owned 190,200,000 as at 21 September 2021 (8,48%).
I would like to believe that Slater did not sell down their holding at higher prices knowing full well that they would be offered shares at a lower price given their obvious confidence in the Company .
Would that mean that there may be another TR-1 on the horizon?
GLA and DYOR
I now understand why most investors lose money in the markets.Do those investors who are selling their shares at the moment think the know more than Slater's.What a vote of confidence!
Like all thinking investors I look forward to the future with renewed confidence for the following reasons
1 Slater's vote of confidence is huge
2 Cypress looks better than I thought and I expect an RNS shortly
3 Copper and Cobalt -All I read about is how companies are trying to get into the business of producing these metals
4 PGM's seem to be staging a recovery
5 Renewed trust in the management with Leon repeatedly coming up with wonderful news.
1 Slaters vote of confidence
NTD- I’m still buzzing- only days before cobalt starts becoming reality! Would love a broker note now to put all this in perspective. What is fair value now? What are their forecasts? I can only imagine they are a world apart from the current share price!
Slater probably read the bb and saw the excitement on cobalt - this is getting very exciting.
Another massive vote of confidence! Love it!
Just re-watched the clip below (a bit long) but you really do get a sense of what Mark Slater is about....
https://www.youtube.com/watch?v=NbhCo2I7sfE
points of note...
1-> Tends to hold at least for 3-5 years, often 5+ and some for 10+ years
2-> Growth stocks he holds for longer waiting for re-rate
3-> Not interested in 10% growth and selling
4-> Likes targets with brand, exceptional opportunities, and benign competition
5-> Recognises Slaters money is better invested in smaller companies as the rate and ultimate size of growth is better than with say larger companies
My take is he definitely sees the growth coming to fruition in the near term, a re-rate is defo on the cards (otherwise he wouldn't invest), and he totally believes in Leon at the helm. I would suggest this additional money apart from fuelling accelerated growth, has a secondary benefit as a large tick for a SP re-rate from Slater's who wouldn't waste their time or money if there wasn't going to be one.
IMO ATB Shorn
Hopefully the other II's will see Slaters increased stake and wonder if they should follow and increase their stakes. Failing a market downturn, this should recover and grow very nicely. Looking forward to 1-2p at a time not fractions of a penny
Yes a great read, I have a copy too. Whilst he will have an eye for the short term, he’s all about long term investing. I’ve seen him force a management change when he wasn’t happy, rather than selling the company!
Agreed Mikey - very happy with Slater! He isn't in this for 5-10% return - he backs companies he thinks will multi-bag through growth.
Beyond the Zulu Principle is on my bookshelf and one of the best investment books I have read!
Northern
Further more very, very sticky hands!!
In my view, that is a resounding vote of confidence for Jubes. Slater have probably had a good chance to get quite close to the board and proceedings at Jubilee since taking their initial position.So much so they have roughly doubled their holding. Mark Slater is one of the top fund pickers of the current era, with an exemplary record. He doesn’t make mistakes!
A hefty increase , at any rate ! Slater Investments is a canny investor !
Stupid question
Wonder if it was the placing or open market?
I see Jim Slater and his investment vehicle have re-expressed their confidence in JLP !!