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Min 2% because depths >800m but this is also a PGM play. I suspect they'll take a view via XRF results & then decide whether to assay (3 months). Needs to be pointed out previous drills albeit different targets have not got anywhere close to commercial grades but the geophys looked good going into this drill.
What percentage of nickel from assay results do we think would wake up the market? We definitely need something interesting to push us forward and attract more buyers in
The HZM comparable is not founded, it is all about the point of the curve, the start and the end are two very different places. Tier 1 nickel will always find value. HZM a failure due to lofty ambitions. Sell and move on the asset would be the way for molopo
I think the 0.001% COS is a tad harsh. Suspect its much higher but maybe the risk-cost is a too high.
However a big hit of a long intercept of nickel would be very welcome, even if just one hole.
Absolutely agree DonkeyOatey.
The only move I have not really agreed with this year from POW is this one hole Molopo drill campaign. It's very costly, you are never going to really prove anything with one hole and also drilling comes with a 0.001% chance of success. Certainly not the reasons why I invested in POW. I am here for the "spin out / merchant banking" model.
Focus for me should be on the Uranium asset deals which could shortly bring in a bolstered balance sheet (if POW go down the UEE IPO route), could also bring in cash to POW if they decide to partially sell the assets and joint venture some out, or they may even get equity from potential larger exploration/mining firms in a JV. I'm personally looking forward to see some tangible figures on these potential U deals. I feel they could be in the £1,000,000s rather than the £100,000s. The UEE IPO seemed pretty much done and dusted for the end of March 2024. Why delay this unless there is something significantly better on the table is my view.
Also the Saudi pre-IPO should raise substantial cash. Sean also said this IPO will be the biggest one yet for POW. Upon listing, GMET was worth around £4.25mil to POW in May 2023 (now circa £7.6mil), so you would assume POW's stake in the upcoming Saudi IPO will be higher than £4.25mil. Doubt the Saudi's would get out of bed unless substantial money was on the table too.
Good to see the business have positioned themselves so that Molopo results are just a "bonus" rather than "business critical" but nevertheless, happier to see funds used to get assets into IPO vehicles so that cash burn down the line is heavily reduced and POW can just sit back and watch their investments grow (GMET) or shrink (FCM). All of which costs POW ziltch!
As always, POW just need a fair wind from the market. At present it is anything but fair. Also good to see that POW are not reliant on going cap in hand to the AIM market and the shyster brokers. Latest financing done via Saudi & Purebond multi millionaires and POW also have Rick Rule's contacts too for favourable finance if required. With £8mil+ in investments already on their balance sheet (all become tradable on 10/05/2024), POW are in a far better position than most valued at sub £20mil in my opinion.
I wonder if there really is any point in betting the farm on a nickel discovery, when you see that HZM had 2xt1 nickel projects and can't get them financed, and is now basically about to enter into liquidation. I would rather we JV Molopo (if anyone's interested) and get on with the uranium, gold and copper assets.
"I think if this comes up dry (like it did last time) then that will tell us all we need to know about POW"
What's that then?
I prefer them to keep looking at molopo until they come back with good news. If they don't find anything in the next assay results, they should get rid and sell molopo and move on
Started drilling on 07/02/24 , over 2 months ago and still going ? He did say there would be updates about the drilling , but there hasnt been any that i can see ?
I think if this comes up dry (like it did last time) then that will tell us all we need to know about POW
They haven't finished the drilling yet. We need a drill completion rns and then we have to wait for assay results which will take another few weeks. I thought they moved the drill?
Now where have i heard that one before ? 🤔
'Large Magnetic Anomalies Identified'
Actually, where are them Molopo Farms drill results come to think of it ?
GMET have issued a very positive RNS this morning”
“ Large Magnetic Anomalies Identified Within High-Grade & Power-Line Zones
Golden Metal Resources plc (LON:GMET, OTCQB:GMTLF), a strategic development and mineral exploration company focused on Nevada, USA, is pleased to announce an exploration update at the Company's 100% owned Garfield project located within the prolific Walker Lane Mineral Belt in Nevada, USA ("Garfield" or the "Project").
A recently completed ground magnetic geophysics survey has detected significant anomalies coincident with the Project's Power Line Zone and High-Grade Zone target areas where previous rock and soil sampling fieldwork confirmed the presence of significant porphyry and epithermal style mineralisation.”
First OTC trade posted today!
4,900 shares @ $0.23 = $1,127 (circa £900)
Which is around 18.5p a share at today's exchange rates
With this type of stock it is a case holding as eventually there will be a catalyst that will cause the shares to go on a run and most likely it will take everyone by complete surprise when that happens.
I agree Doc83. I think when we hear more about what is happening with the Uranium project, this should help push us up a bit more. Hopefully attract more investors as well. I'm really interested to find out what Sean will decide to do with this. There seems to be alot of interest from what he said in the presentation the other day.
Also the molopo farms. If they do discover some good results; will they spin it into an ipo, a joint venture or sell it off at a profit. He mentioned before they were in talks about this
Sol - I certainly think we should be valued at more than £18m. But it might take a reasonably large catalyst to bring in the FOMO and volume needed to drive the SP considerably higher, at least in the short term. Longer term, if SW and POW keep doing what they're doing, I expect the SP to climb, slowly but surely. For now, I see it as an opportunity to load up where I can.
it surprises me every day, how low the amount of investors we have here compared to other companies on aim. especially with sean working hard to find the right projects, doing exactly what he said to get us on the usa market and not wanting to dilute the sp by adding new shares and bringing in money from big investors like rr. there's aim companies that have 100s sometimes 1000s of investors and most of them are complaining about the ceo and the company and the lies they tell.
people are attracted to chaos. look at how many people ****ged off trump all these years and boris and they still vote for them
Will take a good few days to get the market makers fully in place.
At the moment just 3 are ready. Might even be next week until we see the first trade.
I went to Powers web site to connect with the OTC market!
Can anyone see if the otc listing is live? I've checked a couple of sites and it doesn't seem active
Https://www.youtube.com/watch?v=FLSEq-Jbfck
Video now available, some great points raised by Sean. Especially around POW's Uranium assets.
Worth a listen!
First MMs are on the OTC at 18c bid / 25.5c ask.
I make that a 14.2p bid and a 20p ask … obviously with initial poor liquidity the spread will be very very wide
I wonder what other marketing Sean has done so investors over there know we have a new USA listing
New heavily updated company presentation on the POW website (updated within the last week) suggests marketing could be about to crank up. Would have to assume the main focus would be targeting the US market after the OTC listing is fully up and running.
https://www.powermetalresources.com/wp-content/uploads/2024/03/POW-Presentation-April-2024.pdf