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I mean for god sake this company has been around for months. Why are they not mining, why has the SP not gone x10!!!
give them a chance. Sit bak and watch the value of the portfolio rise. If the SP does not follow buy more and wait.
This looks very likely it could be huge. Just not today or tomorrow
What’s next week, diamonds, give it a rest Oliver and show us the money.
I mean yes, it's a nice little RNS but it falls into the category: 'we believe...', 'it could be that...', 'there's potential that...', 'if, then...'
Prefer to see hard evidence from drilling...but yeah ok, lets throw that into the increasing amount of follow-ups that need to be performed on PM - jeepers I hope they do get that grant money, and soon.
Another Pilot Mountain update from GMET this morning. GMET currently valued at around £12mil.
You could make many cases for Pilot Mountain alone being worth many multiples of £12mil. Especially with US DoD non-dilutive funding landing at any moment over the next few months.
GMET well worth a punt here from these prices. Fantastic CEO too with a great CV in the Nevada area and a clear passion for the job.
Fully expecting GMET to have a very good 2024.
"In 1952, the US critical mineral stockpile was worth $42B (inflation-adjusted). Today, it’s worth $888M. The US has sold ~76Mlbs of tungsten alone during that timeframe.
I bet the US defense department is structurally short tungsten after decades of zero wars, an oversupplied market, and no incentive to stockpile after WWII. Historically, the US could tap domestic mines for more tungsten; if that didn’t work, they’d import some from China.
But both of those options are gone. The US has severely underinvested in tungsten production, so it can’t meet incremental stockpile demands at current WO3 spot prices. And China, as we’ve discussed, will likely ban more, not fewer, critical minerals. "
"Conclusion: Stalking A Capital-Starved Industry
Tungsten has all the ingredients for a massive supply/demand imbalance over the next few years. Multiple demand drivers from military/defense, semiconductors/robotics, and EVs are jockeying for more tungsten supply.
At the same time, the industry has been oversupplied for nearly a decade, and there’s no incentive to bring new capacity online at the current price. Plus, there’s the growing concern that China, the world’s largest producer, could turn off its supply at any point in the name of Resource Nationalism.
The result is an industry with a potential 19,000-ton deficit or 16% of total demand. History shows that when that happens, tungsten prices skyrocket, the miners make tons of money, and assets/deposits trade for 20x+ earnings.
Nobody’s talking about, looking at, or even thinking about tungsten. Reading this Industry Primer puts you in the top 1% of investors knowledgeable about tungsten. All that’s left is to sit and wait for the market to give us our fat pitch price."
"We’re approaching an inflection point in tungsten supply. The US will quickly run out of stockpiled tungsten and flip from net seller to buyer over the next 12-18 months.
Moreover, there is a non-zero probability of China banning tungsten supply from global markets, just like it did germanium and gallium earlier this year.
And if I’m honest, it’s a win-win for China if they do. They’ve spent decades building domestic supply chains from raw material production to smelting and refining. The US hasn’t.
We could see 200-400% price increases if China restricts tungsten supply, as Ronald Limbaugh explained in his book Tungsten in Peace & War "
Https://macro-ops.com/an-industry-primer-on-tungsten/
Tungsten has everything we want in a commodity thesis:
Multiple accelerating demand drivers
Bombed-out sentiment
Lack of new supply
Potential for massive supply/demand imbalance
Thanks
When asked, recently, by the SR guys (admittedly in a private conversation) OF indicated there were no current plans to raise, in response to some private presentations to potential investors and if they wanted stock they'd have to buy in the open market.
Not sure how much funds they have remaining but pretty sure they've spent bugger all on Pilot Mountain apart from whatever it's cost to put the grant applications together.
OF appears to be spending any monies on value creating triggers (aka recent Garfield work) if they get US grant funding for further PM work it leaves any remaining funds to be pointed at Garfield (or something equally as good).
I expect to hear pretty soon that OF is doing a roadshow to US investors that'll hopefully gather further interest (most probably after we hear about possible US grants). I'd also expect to hear in the next few months about the exercise of warrants bring in further funds.
This is a classy asset, group of assets, and I don't expect any silly decisions about dilution as this company starts to distinguish itself from other market participants.
They only raised £2m on listing last May as far as I can see, and no funding since then. Is this correct?
If so they must be running on fumes and are going to need a raising to progress their several promising prospects further via drill programmes..
I don't know if this company will ever get PM /Garfield to production - not sure I'd want them to anyway. More likely OF develops the business case on these opportunities and either sells them or we take strategic partner that's likely to make a full offer on the asset as development increases.
An excellent presentation, lots of info on the assets, and reminds us that we have a young, intelligent, energetic and well-informed CEO. The future for tungsten looks pretty good; even if one discounts the demand from nuclear fusion, the demand from the US army and from Ukraine is not going to go away anytime soon. And Friesen is clear that he wants to push Pilot Mountain towards a feasibility study and production.
This is one of those companies, where some will be saying in three years' time, "If only I'd bought at ten pence," and others will be saying, "Thank God, I bought at ten pence, and kept my finger well away from the sell button."
At the Garfield Project, I like the fact they have now found Uranium as well as Gold. Silver .Copper high grades.Garfield Bonanza Silver & Uranium Target. I am a gold bug but this company seems to be in good hands and the assets has it all. Including being in Nevada USA.
Significant Porphyry & Epithermal Potential Confirmed; Bonanza Silver Grade Returned. I also like their other assets.Like Pilot Mountain etc.
Uranium Target.
Completely agree with all you said ICB and I am doing the same.
Do I believe in the assets, the CEO, jurisdiction financial control, it's all ticks for me with the bonus of potential government grants to really accelerate things
Just finished watching the hour long presentation which gave a very detailed update on where GMET is with all its projects. Oliver is a very engaging presenter and his enthusiasm is infectious. The investment case is compelling and I will continue to build my holding.
Thanks for this, Paul. I wouldn't have known about it otherwise.
Best wishes to all shareholders (including yourself).
Looks like OF presenting at the London Stockexchange tomorrow Feb 1st.
https://www.lsegissuerservices.com/spark/GOLDENMETALRESOURCES/events/57d8a5cf-7f55-4afa-9be1-bc3df09bb528
Yes 'SII' is short form for 'Shares in issue'.
How much cash does GMET have and what's the burn, anyone care to share? Thanks.
Hi, Chatty
Can you explain SII to me? Is it shares in issue?
True a number of IPO warrants expire on the 10th MAY.
O.F. is keen to keep the SII as low as possible so any raise will be minimized
Would not be surprised to see some announcement about exercise of warrants sometime soon, given the SP. More money in the bank, even less reason for a raise.