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Reply to Banzai
I do recall somewhere CB stating this. Midweek roast maybe. The licence is needed, this 3m mcap should be long gone.
Banzai. Sadly funding comes before starting open pit mine. We've already been diluted to the moon and back and borrowing is very expensive (if you can get it for this project). As I've said before, if this company is so undervalued why has nobody made an offer for it? A long term disaster with a self serving idiot in charge. Don't get your hopes up in this dire market
Not sure if I qualify as an LTH. It just feels like I've been in this a long time.
Unsurprisingly, there hasn't been much reaction to this news. It'll take the genuine prospect of this crock making money before the SP takes off. Licensing, funding, flogging one of the assets, Colin Bird buggering off etc.
Here's hoping.
How are we to fund?
Get the license, start open pit mine, sell copper and gold, drill some more. 👍
Hi Mr T,
I’m still here just not much to say at the moment. I have been talking to the company regarding the PFS work on mankayan. They expect the work to carry on into 2024 and may not even release the study unless IDM put it in the public domain.
I have scanned the RNS today so can’t really comment but I did noticed that an additional 3500M of drilling was recommended and the resource may be overstated due to some of the old samples.
I noticed on the cadastre portal that our EPL 6605 is still pending and that our EPL 7170 expired- I have asked the company for an update regarding these.
As everyone else says the mining license is needed but more importantly how we are going to fund the additional drilling and how we are going to fund the mine! i would assume we are running low on funds again.
Pricey,
Good to see at least one name I recognise is still here, many appear to have either sold up or just not interested. I can't say I blame them!!!
I agree we need the licence, I also agree funding will be an issue both in the short term and long term.
Hence why CB really needs to get his act into top gear. The last thing we need here is a mind blowing dilutionary raise at these prices!!!
Mr T
Hi Mr. T
I think as someone else has said this morning - no matter how good the results, with no mining license there can be no mine. The provision of a mining license is the "big one" now, however we'd then also need the environmental permits agreed (AFP took six more months to get those after their license had been allocated), and of course we need funding.
The main worry now is how the company's cash balance looks. Let's hope they're parsimonious enough that no further crashing dilution is needed prior to our generating income through mining. If we do need another raise at these prices, then the only people who'll likely benefit are CB and his mates.
First bought in 2011 and have held on through thin and thin. Not a lot of thick as it were.
Like so many with multiple bagging hopes this continues to go sideways at best.
The big one is Mankayan but I am living in a dream world if I actually get anywhere near my investment back.
But we buy small miners in the hope that one in 10 works out. GGP is in the portfolio and that's doing ok-ish.
We need financial support to get to the mining stage so either a JV or buyout of the resource is our best hope I guess.
We cannot bring this to mine ourselves, not enough clout.
Good news today so lets see how it pans out. Excuse the pun....
GLA GT1
Where have all the LTH dissappeared to. Surely not all sold out?
Be nice to hear their thoughts on today's news and their opinions on where we may be headed, sp, wise.
CB now needs to keep newsflow maximised and also update on our other projects.
Be nice to hear progress on a possible IPO of Mankayan. Now that really would set us alight!!!
Mr T
After license, need to see the funding plan before any real buying IMO
Great results after waiting such a long time. The licence to follow shortly after this as its prudent to actually know what’s down there before the diggers turn up. I’ve been a silent watcher for over 12 months now I’m in.
GLA
Fantastic results for a 3M market cap company.
Based on this we should double the sp easily today!!!!
Licence to follow plus gold estimates to follow should see us into double digits.
Well done Colin, about time though as the sp has collapsed due to the lack of news here,
Mr R
Excellent news on Hope and Gorob from Addison plus opinion of considerable potential for future progress.
Too much to absorb within the shori period from release and more study required.
Hopefully successful news regarding the mining licence will follow and patience be rewarded. GLA
Maybe that's next? Little run of RNS's?
Might have a small punt here.
Great but no mine without mining license
Looks nice but where's all the shareholders lol?
For a 3 million MCAP. That's more copper than xtract have. A lot more.
Eyups?
I was in it,at the time mr triumpgh.
it was on the concordia license....everyone was baffled to that rise on no news,just drill expectations....it turned out to be a dud and the sp tanked
even bird commented on the no reason rise?
the mining sector,was in a better place,back then though.
Good spot Troajan.
I like the bit where it says "Galileo Resources spiked by 750%b in 3 weeks:!!!
We live in hope?
Meanwhile this doesn't explain why we still have not been awarded the licence!!!
Its now nearly 15 months since we applied, I know we had to give additional information post our application, but, surely if the licence is to be awarded it must be close?
Mr T
Https://www.mining.com/how-junior-explorers-can-emerge-from-the-dust/
Worth a watch.
"We haven't even got the permits yet, what are they selling (shares)....... we're selling a story....."
Matthew McMconauchey is CB
Not long until we flatline.
Lets get some news next week...