The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
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Https://www.londonstockexchange.com/news-article/GMET/pilot-mountain-porphyry-target-confirmed/16448744
"Magnetic geophysics survey successfully delineates two significant magnetic high anomalies within the 'Porphyry South' target area, the most significant of which measures approximately 500 m x 750 m (open to east).
NEXT STEPS
Golden Metal is very encouraged by the results and has immediately requested three dimensional ("3D") inversions of the magnetic dataset which will provide a 3D model of the 'Porphyry South' magnetic targets.
During the planned upcoming drilling campaign, the Company will be testing the 'Porphyry South' target with at least one drillhole.
Interesting article here on Tungsten market and trends that are pushing prices higher:
https://www.fastmarkets.com/insights/four-reasons-behind-the-ten-year-high-of-chinese-tungsten-prices/
Indeed he has.
What I absolutely love about GMET is that OF has the same attitude towards salaries for the bod as PJ had at POW - keep them well below six figures and put the money into the ground, and get their rewards from options when a massive discovery or two sends the share price into orbit. Nothing like having management fully aligned with the shareholders, rather than some of the worst boards in the AiM junior mining space where they place at multiyear lows to make sure they pay themselves about a million a year (I kid you not!)
On todays Sunday Roast they mentioned in passing the issue of the drilling permits and the expected commencement of drilling on 11thMay which coincides with the anniversary of GMET’s listing. One of them mentioned he had spoken to OF during the week and that the list of meetings he had was very impressive. He didn’t list them but did say there were meetings with some of the very big players. One would imagine the grant or grants that have been applied for are dealt with in Washington. It would be a perfect storm if the grant were to coincide with the commencement of drilling but so long as it comes everything is looking very positive.OF has achieved a lot in the 12 months from its listing and deserves to be highly commended for his work ethic and his achievements.
So the Independent article above mentions a Tokamak reactor, I thought it might be interesting to see if they use Tungsten and any more info, found this article: https://www.iter.org/newsline/-/3951#:~:text=In%20its%202016%20baseline%20configuration,and%20particle%20exhaust%20will%20be
In which they say: "...tungsten is a remarkable material in terms of robustness and has the highest melting point (3422 °C) of all known elements, an elevated energy threshold for sputtering, and negligible fuel retention issues in comparison with beryllium. These are the principal reasons for deploying it in the divertor region, where steady heat and particle fluxes are extremely high. It does, though, have one serious drawback: as a very high atomic number material, only very small concentrations will be tolerable in ITER's fusion plasmas before the burn is compromised. Nevertheless, tungsten is the most widely favoured candidate in most magnetic confinement fusion reactor designs, and the long-term objective of ITER has always been to operate eventually with tungsten as sole plasma-facing material after starting first nuclear operations with beryllium main wall armour to ease the pathway to burning plasmas. In view of technical issues which have arisen during machine construction, this long-term plan is now being brought forward in a new proposal currently under development at the ITER Organization to go "full-tungsten" from the very beginning of operations. A review of this proposal was the sole objective of last month's STAC meeting (ITER Council Science and Technology Advisory Committee) held at ITER Headquarters."
The article, backing up everything OF has been saying, is quite bullish for the future use of Tungsten.
Another headline on Nuclear Fusion : https://www.independent.co.uk/tech/nuclear-fusion-plasma-clean-energy-b2534500.html
I would be very surprised if he let that opportunity pass, he must be as excited as a kid in a sweet shop getting ready to start a drill program at PM and getting to check all the new land at Garfield in person
It would be good to see him doing something onsite in Nevada on the tenements.
On a podcast last weekend it was mentioned that OF was flying to Nevada for meetings in Reno. I would imagine he will want to do a report from Nevada so perhaps this weekend or the beginning of next week.
Grant is the 'game changer' get that and all bets are off, takes the risk almost out of the equation
Pilot Mountain is the most immediate solution:
“ No domestic US primary tungsten production, and classified as a strategic mineral by the US Department of the Interior.”
That’s from the website and that’s why GMET are in line for a grant or grants relating to getting US tungsten production underway asap.
I noted a headline that the US had doled out 29bn usd of these grants as of March 31st
But even so PM is likely to be many years away from production so the DoD may be examining a more immediate solution to accommodate the 2026 import ban.
From listening to Oliver over the months there are several applications in with multiple departments. Department of Defense sound to have the deepest pockets and a more urgent need for tungsten closely followed by the Department of Energy.
The coming months sound to be a very interesting time fore GMET, load up whilst it's still in the low teens! IMO
So much going on here. Definitely don't have enough of them.
Interestingly on the roast chat on Sunday I think it was Charles who said the government grant was submitted in June last year and they take about a year to come through!!!
“ Oliver Friesen, CEO of Golden Metal, commented:
"A huge thanks to everyone on the team for all of the hard work that has gone into finalising preparations for this exciting drilling campaign. So much existing knowledge is held by those who have been involved with the Project previously, and we are thrilled that so many were interested in getting involved again as we look to rapidly grow and advance the Project given the USA's very pressing need for a domestic source of tungsten. We believe the importance and criticality of this Project is nearing all-time highs, and with this drilling programme we aim to both increase in-ground resources and collect import data which will be required in order for us to complete the Project's first economic study, further details of which we will announce in due course. I am very much looking forward to an exciting and news-rich spring and summer for Golden Metal."
The Sunday Roast podcast had as its guests Paul Johnson the former CEO before Shaun who remains a large shareholder with 3.7% and Charles Archer who has written reports on POW. There is a lot of very positive talk about POW and GMET particularly how undervalued they both are. It’s a long podcast which doesn’t just discuss POW and GMET but worth a listen as obviously Paul Johnson has some interesting insights having been involved with POW from the beginning.
As OF recently highlighted the potential we have for silver, on twitter I thought I'd point out:
We've all mentioned/read about how important Tungsten is to the military complex, but looking at our potential silver reserves in PM did you also know that SILVER is also critical to the military? There's about 500oz of silver in one Tomahawk cruise missile !
Golden Metal Resources CEO Discusses Significant Magnetic Geophysics Results at Garfield #gmet
https://www.youtube.com/watch?v=64IZtnrhym4
@LB probably even slightly less than that in the free float. I held 1% before all this blasted private raise & warrant exercise (lol), so will have to top up at some point to maintain my %. But there will be be others like myself under the radar - I'm sure the John Feneck guy in the US that's always talking about GMET must have at least 1%. So add up these sticky holders and potentially there's only probably on a % in the teens in free float.
Probably why the price is reasonably stable, but does respond to small volume.
On my watchlist - just 93m in issue of which 22m only in free float ?
Kevin Hornsby (Roast) has just posted on Telegram that he's interviewing Oliver at 11 and it should be available by 1ish
Yes great RNS but what we all really want are drill results - but all this preparation is highlighting where we'll be drilling later. Great stuff!
Nice RNS now! I think it might be time for a large (for me) top up!
Paul, I agree completely about lithium - absolutely no interest in it, and the world is moving away from lithium batteries in the coming years so I don't think medium or long term lithium projects are worth thinking much about.
Pilot Mountain can clearly be dramatically increased in resource, what I am most interested in is Garfield, and look forward to seeing the magnetic bullseyes from the recent survey and hearing about future drilling plans.
Donkey agreed that would be my be my ideal resolution for PM too.
I am very excited, like yourself, for more data on Garfield and Golconda, but have little or no interest in the lithium project.