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@Tray although I have to admit I'm a little confused now.
When the point was put to OF in a recent interview that the SP might come under pressure as investors sell shares to fund their warrant exercise he specifically made the point that he didn't envisage it happening as the largest warrant holders were the largest, most loyal, shareholders.
Thanks for clarification @Tray
POW is the major GMET shareholder, but they don't hold the majority of the outstanding 10.75p warrants.
GMET warrants outstanding as at today = 16,517,816 @ 10.75p = £1,775,665
POW's 10.75p GMET warrants = 1,749,378 @ 10.75p = £188,058
Fully expect POW to convert these warrants and hold them tight but they only hold circa 10.5% of the outstanding 10.75p GMET warrants.
So thus far I think that's about £200k raised from the warrant exercise.
Wondering when the major shareholder POW, will exercise theirs???
Good sign.
Looking forward to the days when there are 1000 trades a day here rather than just 10 though. If the lse bb super rampers start posting one day then we'll know we have the full attention of the 'herd' and things are going to get interesting.
Hopefully it will be more weeks rather than months to wait - and definitely not years!
Still @ICB massive vote of confidence in OF & GMET, £158k decent wad o cheddar, dude!
Paul
On reflection I think your interpretation is correct.
Not sure I read it that way @ICB - I think they're saying the combined Mega CO + Chang holdings represent 5.64% ... 'total interest'
Todays Warrant exercise has effectively created a 10% shareholder:
“ Following Admission, The Mega Company will hold 4,411,764 ordinary shares, representing 4.77 per cent. of the Company's enlarged issued share capital, and Ms Chang Turkmani, who has an interest in The Mega Company ,will have a total interest in 5,217,646 ordinary shares representing 5.64 per cent. of the Company's enlarged issued share capital.”
That is a significant vote of confidence in GMET.
Nice additional funds for OF to play with, But for me the most significant thing from todays warrant exercise is this is clear insider buying, from someone charged to lead the grant negotiations with the Gov.
Follow the insiders...
Those two trades of 100,000 at 14.17 and 14.27 look like someone using up his capital gains allowance before the end of the tax year. This is the week when people will be selling for tax reasons, to record a profit or a loss, if they are holding outside an ISA.
My apologies here is Oliver’s statement from Today’s RNS:
Oliver Friesen, CEO of Golden Metal, commented:
"We have taken another important step towards the commencement of this very important drilling programme at our flagship Pilot Mountain Project. We have spent the better part of a year preparing exploration and resource expansion targets and we feel very confident with the targets that are now being finalised.
"Since day one we have prioritised working with Nevada specialists when it comes to all aspects of our various exploration programmes and we are delighted to be working with Diamondback, a company with extensive experience drilling in the mining friendly state of Nevada.
"We are working very hard behind the scenes to finalise all final programme details, and further updates can be expected in due course."
Hi, ICB
You have quoted the RNS from 25th March, not the one today.
Ha even sooner than you thought ICB
RNS today
Oliver Friesen, CEO of Golden Metal, commented:
"Garfield has certainly been an asset which has excited the team and many investors over the last few months, and we are very pleased to announce that a very important next stage exploration programme is now underway.
"We believe, on the basis of the historic exploration work, that there could be additional key potential porphyry intrusive centres to be discovered across the Garfield Project footprint.
"The work being undertaken now is a key step in investigating this potential.
"Our fantastic team has been able to quickly mobilise with work now well underway and we look forward to updating the market with the results as soon as possible."
GMET currently Up 5.56% at 14.25p
Having listened to the interview and previously listened to many more I remain very impressed with OF. I agree he is very professional and would not break the rules regarding disclosure of information. However he is very good at signalling the direction of travel so you can read between the lines. I feel fairly certain we will get an RNS in the next few days.
He didn't slip - all he said was he can't say anything just look at the data points and inferred deduce the probability. OF is pretty professional guy he wouldn't let anything like that slip.
I must have missed that, whereabouts in the q&a and what did he say?
Stock box interview
I think he let slipp that the goverment money is sorted
https://www.youtube.com/watch?app=desktop&v=0A3ux2-mGEc&feature=youtu.be
It's amazing to me that the market attributes so little value to GMET, given the large Tungsten resource at Pilot Mountain, and the ever-expanding copper potential at Garfield (given the northern NV location, which is one of the best mining jurisdictions in the world, you'd think people would be all over it.) Let's hope that the gvmt funding for Pilot comes in soon so that they can get active dramatically expanding the scale of the Tungsten-Copper deposit, get it proved up, BFS done and flog it off to the US gvmt. When the rules come into effect preventing imports of Tungsten from China, who knows what the price of domestic supply will be, whatever it is it will be significantly higher than it is today!
Good update, Garfield shaping up nicely
Https://www.youtube.com/watch?v=Wx8_iSltR3g
Stockbox research update on GMET
Thanks guys, not silly numbers even on what would be definitive successes
To add to your comments below Donkey, on 24/01/2022 POW also cleared the $500,000 JORC milestone tail benefit by issuing Thor £100,000 of POW stock and giving them £50,000 cash at the time.
Thor have now subsequently dumped all their POW stock too. Certainly is free and clear from any attachments to Thor!