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Buyers around today as the market was selling the stock they bought at higher levels imo.
Possible squeeze on to 0.5-0.6 level without news.
Still very very cheap here!
GL.
Clive, I would love to agree with you. But why do you think it is about to get massive? Glencore are in no hurry to buy Stonepark, although I'm sure that for the right low price they might. G11 will never sell to anyone else for fear of upsetting their largest shareholder. I hope that the next drill this year proves up a huge resource, but we will still be left with the problem of how to monetize this thing. We need another cash producing asset so that we can play this waiting game for the coming decade or two
Couple of traders not so patient!
GL.
I agree when you look at some of the crap prospects on aim costing far more and here we have a proven resource about to get massive!
Patience and a deep breath.
GL.
I'm surprised that there is absolutely no interest in buying shares even at this lowly level (Mcap £1.05M) when there is a chance of a multibag if G11/Glencore buy our (minority) share of the Project...
RNS extract: 'The licence block contains six licences covering 184sq km. In 2022 seven holes were drilled, including four early stage exploration holes which identified new mineralised trends. Three additional holes were targeted on previously identified areas, Carrickittle West, Carrickittle North and Stonepark West. A new major fault structure was identified at Carrickittle West. This is now a high priority zinc target at depth. Arkle has indicated to Group Eleven that it will contribute its share to the drilling on this block.
Stonepark remains a central asset in the Arkle portfolio. It lies adjacent to the massive Pallas Green zinc discovery estimated to contain over 40 million tons and also adjacent to the ongoing discoveries at Carrickittle made by our partner Group Eleven. Zinc is a critical metal in economic development. We believe the deposits in Limerick will be developed in the future.'
The ARK twitter still pumping out 'rubbish'. You only have to read the RNS about Mine River lithium and the evident lack of progress in Zimbabwe (3 licences granted this time last year and....nothing!). Come on Teeling, earn your salary or move over and let someone else take the reins and get this company moving forward....
'Final Results for 2022: Lithium
- Though our focus has been on zinc and gold, we are alive to other opportunities on our licence holdings'
Cliveas, any sort of 'positive' news from Stonepark (or any other asset!) would have a dramatic effect on the SP from this level imo. If only we had all bought in at sub 0.3p!!
Just letting us know he was engaging with G11 and or Glencore would get interest back in this share.
Or even putting out the feelers for a sale or JV rather than nothing!
Can't believe there is no one gonna be interested down here but patience is yet again required.
GL.
Ought to come out of hiding and apologise to shareholders for crashing the share price (mcap now just over £1m!) and explain what plans he has to get the company back on track. That is if he gives a toss!
Andrew Batchelor? Looks like he has lost a lot of money on this investment/trade!
Mcap now 1.01m!!!!!!!!!!
where are Mrex getting their stock from?
Please bounce when seller done.
GL.
Mcap £1.03M!! And Teeling says nothing! I imagine G11 will just sit and wait until we run out of money....
Is there a big background seller out there?
More buys than sells WTF!
GL.
The gold grades looked good, although the lithium results were a joke. But Ireland is not to my mind the best jurisdiction today for permitting and mining. I would prefer Botswana or zambia for Africa, but beggers can't be choosers.
DH, lithium is a good space to be in atm and a number of shares have seen decent increases in their SP this over the past year or so. Teeling told us we had acquired 3 lithium licences in Zimbabwe back on 22 June 2022. What has happened since? As you say, forget Ireland for gold and lithium, waste of time & money. Teeling needs to make something, anything, happen to shake of this malaise...
Cliveas, how do you know that Teeling hasn't been active trying to market Stonepark? He knows the value of that asset better than most, I should say. I would suggest that the inability to do a deal for Stonepark is much more likely because G11 won't play ball, and why would they with Glencore owning 20% of G11? Stonepark will, one day, be worth a good deal. The problem is that they need a cash generating project in the meantime, since it could be a decade or more before Glencore decide to develop that while area. I don't blame Teeling for the lack of Stonepark action, but I do agree that pursuing those gold and lithium projects in Ireland is a complete waste of time and money. We need a good project to reverse in here asap, do a big raise and get cracking with it. Perhaps if we can't find a decent project the approach should be to pick up the phone to Glencore, offer them our share of stonepark for a few million in cash, distribute it to shareholders and then make the company a clean cash shell to reverse absolutely anything into. Perhaps pharma? Perhaps AI?
Just needs somebody with not so deep pockets to mount a takeover and push on with getting value out of stonepark.
I believe they've even got smelting royalties that can be sold seperately.
A steal at this price! Are there no takers?
Lets see!
GL.
The only hope here for shareholders is the sale of our (minoroty) share of Stonepark imo. A dynamic, savvy BoD would give us some confidence that they were on the case. The longer G11 continue to drill (is it a priorty for them atm?) the greater will be our need to another fund raise to meet our share of the costs, meet ongoing salaries & overheads and progress our other projects. Lets here what Teeling has to say about last years results AND plans for the rest of this year. Or will he just continue to hide away and maintain radio silence.....
The stonepark asset is multiples of the share price (many multiples).
The board know the value of that asset and hence do not wish to hurt the company.
Just look at their partner GroupEleven and the register with Glencore on the board and over 20% of the company.
GroupEleven keep making discoveries and Glencore's Pallas Green is right next door.
One deep hole into Stonepark and it's bingo. Cost isn't a lot and at GroupEleven's expense.
Maybe Andrew Batchelor has played the market makers and is buying back lower today, time will tell if this is the opportunity under 0.4p.
Pity there is no consequence for putting out false results like the lithium ones posted a few months ago. The analysis method was lithium fusion analyses which is not suitable for lithium assays. The very low grades reported could have been entirely been from the analysis method. Their CP and Nomad should know better and the rest of the projects are a load or rubbish too. The board should be removed - this Company would be better as an AIM shell with experienced resource professionals or other business people to take on a real asset. Companies like this is why exploration and mining companies get a bad rep.
Cliveas, the SP would really motor upwards if it was announced that Teeling had been put out to pasture. Completely lacking innovation, energy and shareholders are the ones to suffer from the inertia here!
Seems pretty obvious that we can forget about our gold 'assets', lithium exploration at an 'early stage' and no progress in Zimbabwe. We're left with Stonepark which has gone quiet and in the meantime cash must be getting low and our future prospects are in the hands of Teeling. Oh dear.....
The mcap here is that of an aim shell.
Our stake in Stonepark is worth many multiples of this but Teeling just sits on his ass waiting for developments rather than being proactive and searching for possible buyers or JV!
Let's hope the drilling gets completed very very soon!
GL.
Not a lot to get excited about!