If you would like to ask our webinar guest speakers from WS Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund a question please submit them here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Yes look, I don't think this is currently a big issue, but I'm aware of my subconscious making links to past experience.
I'm still, like you @chatty, very bullish on GMET, I wouldn't buy more above 15p based on todays RNS, but if it got back below 10p, yeah sure of course a no-brainer. I might even (probably would) buy more at these levels/above based on what I consider better quality newsflow.
It's still a highly speculative stock but I like the risk reward ratio at the current levels - wouldn't want to own more than 1% though and I'm getting close, so any top-ups require a very good justification.
For the record I haven't sold anything I've bought, so far.
I do not subscribe to your concerns.
I'll highlight a crucial distinction: GMet has only been listed for a mere nine months, and in this short time frame, the value growth trajectory has been nothing short of astonishing.
Unlike PJ and POW, where Mr. Bell spearheaded operations with limited funding, the situation is vastly different.
Firstly, the financial outlook is robust, with minimal concerns regarding finances. They have meticulously planned their operations, and their financial position remains solid, providing a sturdy foundation for growth.
Additionally, unlike the initial challenges faced by PJ and POW, all major infrastructure for GMet/PM is either already in place or readily available. This ensures smooth operations and minimizes potential bottlenecks in the development journey.
In essence, the stark differences in their circumstances compared to PJ and POW should assuage any concerns regarding their trajectory. With a firm financial footing, meticulous planning, and readily available infrastructure, GMet is poised for continued success and sustained growth in the foreseeable future.
Yes and I'm hoping the case is exactly as you've laid it out. It's just beginning to feel a little like POW years ago with lots of new stuff getting announced and nothing actually progressing that much.
I'm sure OF is just constructively killing time waiting for news on grants, whilst not accelerating cash burn, but the engaged PR peeps are ratcheting hyping activities and sentiment in media, which will chip away at credibility or draw comparisons with what happened in the long term share price decline at POW - not to say POW isn't a great potential investment either - but there's a lot of exhausted disgruntled shareholders.
As I see it, OF's priority =Pilot Mountain remains steadfast and unwavering. The development and operation of Pilot Mountain is at the forefront of the agenda and will continue to hold the top spot.
The recent developments indicate promising prospects, particularly with the anticipated support from the US government in funding the construction and operational phases of the mine over the next three years. This significant backing alleviates a considerable cost burden and paves the way for smoother progress.
While it's true that Gmet frequently announce new discoveries, these shouldn't be misconstrued as diverting attention from Pilot Mountain. On the contrary, these exploration updates serve to enhance the overall value proposition without significantly detracting from focus on Pilot Mountain. They contribute to bolstering the asset base at minimal cost, thereby reinforcing our position in the market.
In essence, the commitment to Pilot Mountain remains resolute, and these exploration announcements only serve to fortify Gmet,s standing and add depth to its portfolio.
The last week or so I've been feeling the influence of PJ esq here - am I imagining it. Looking at comments on twitter and now the paid PR TMS crowd jumping on the bandwagon - today even misquoting the RNS saying main booming conductor neve got tested: https://twitter.com/DavidBurton1971/status/1758391347281568054 which is simply not true as even OF says it was never 'fully' tested.
It's making me a little nervous that there's a campaign to pump the SP, which (in my mind) would severely impact the good reputation that OF has built for himself.
I tested to see if I could offload any size at all on the market, basis this latest RNS and the best I could get was a 13:85p bid for 50k - dummy test, didn't sell. But if this is a pumping exercise (and I hope it isn't, but twitter activity makes me nervous) it's not working. The market requires hard evidence, resource definition, it doesn't reward land packages any more.
Let's progress the identified prospects here. Perhaps OF is killing time before he hears back about US grants, or before more cash injections from warrants that should be exercised by May, I think, if we were to remain at the current SP. Don't jeopardise reputation with hypey inaccurate PR firms.
Ok nothing defined, just interesting conjecture and the world ain't short of Lithium deposits. Brine too, that requires huge upfront capital commitments. I'd rather limited company resources (manhours & financial) were spent on other stuff - PM resource expansion, Garfield bullseye drilling...
It adds to the attractiveness of the land package for sure, but wouldn't be a reason for me to top up, or buy-in if I wasn't already long.
All this for £12m
seams a bit low
Quite a stream of updates over the past 6 weeks - copper, silver, gold, uranium, garnet and now lithium.
https://www.londonstockexchange.com/news-article/GMET/garfield-project-bedrock-discovery/16280300
https://www.londonstockexchange.com/news-article/GMET/garfield-update-bonanza-silver-uranium-target/16299439
https://www.londonstockexchange.com/news-article/GMET/pilot-mountain-significant-garnet-potential/16323128
https://www.londonstockexchange.com/news-article/GMET/kibby-basin-lithium-update/16335496
Https://www.londonstockexchange.com/news-article/GMET/kibby-basin-lithium-update/16335496
Extract:-
"Considering the lithium enrichment encountered in brines and clays in KM22-02 above the main target conductor which demonstrate the prospectivity of the entire basin, Golden Metal considers there is compelling evidence indicating a high likelihood that the untested target conductor (Figure 3) is also caused by lithium brine mineralisation."
This written by Charles Archer who, obviously, aggressively talks up his own book. Previously, I have to say I did enjoy listening to his pragmatic balanced viewpoints but I think as he's been developing his 'online' personality and an element of boastful bragging has hit, as a few of his calls have been right - eventually the market turns - I'm kinda going off his style a bit, whereas there was another article on the Tungsten market (largely used by Archer here) which I found more useful. Just a matter of style I think.
Not that I don't think GMET has great potential but I'm increasingly concerned that because of hype from punters like Archer whatever good news drops won't be good enough for the market - eg peoples expectations on the US grant are starting to go directly to upper limits, personally I'd rather have waited and reacted to the grant being granted (win win), now there may be disappointment on the level.
Have a feeling OF would have preferred that too, basis the way he describes progress.
Https://investingstrategy.co.uk/mining/investing-strategy-the-golden-metal-resources-edit/
An early para:
"Today’s topic is Golden Metal Resources. Led by CEO and geologist Oliver Friesen (who may have missed his calling as a university lecturer), the company has gone from strength to strength since launching its IPO in May 2023. I spent the last few months of 2023 banging the drum for the company, arguing that the market was completely asleep to the opportunity presented."
Having listened to Oliver I wondered as to the value of these, I post my ramblings to test my thoughts.
He says that separating the garnet from the ore/spoil is an easy process with 40% being garnet, which reduces the bulk that then proceeds to process that recover Tungsten and other desired products, reducing the cost of the process.
I have looked up the price of these garnets, and in final market form in the region of $300-$350 per ton, we may see 50% of this value as the retailers/final processer will want a big cut.
Working on 2400Kg/m3 for each m3 we takeout of the ground we get approximately 1000kg of garnet worth maybe $150 this must help considerable to the cost of extracting and processing the ore.
The upside in that we only have to process the 60% left over, while the overall amount of Tungsten, Zinc, silver and copper remain the same, in unit terms results need to be multiplied by about 1.6 , to adjust for the amount per M3 processed.
GMET has traded on the OTC market for each of the last 5 trading days.
Not huge volumes but it does appear that Oliver is slowly managing to get the word out to US investors which is good to see.
I also noticed a US based YouTube channel with around 50,000 subscribers was talking about Pilot Mountain / US Tungsten requirements over the weekend. I think the video got about 3,500 views within the first 24 hours.
Expecting GMET to have a solid run in 2024.
Who controls the world's Tungsten supply?
"Three countries comprise ~93% of global primary supply:
> China: 84%
> Vietnam: 6%
> Russia: 3%
In other words, 87% of primary tungsten production comes from every Bond villain’s home country."
What happens to the price when China turns the taps off? What happens when the market starts to anticipate it?
Rethink all the economics on Pilot Mountain.
The only PUBLIC TRADING company in the USA mining Tungsten. That's a good advert.
The more publicity in the states the better. They like exploration miners.
GB
Only junior company, he could find exploration in tungsten within usa
Nice snippet PaulFG
Getting noticed by US investment sheets, about 33mins in:
https://youtu.be/mjfkzGfguEg?si=JtHmIfHsRA_nRYEP
Very possible.
I actually wondered - probably rubbish - if the US govt might just make this a compulsory purchase of the license GMEt has for the Tungsten. Buy it up quickly and hand it straight to one of the majors who can quickly get on and into production, far more quickly than GMET ever could, even with a JV partner...? Silly notion?
Hi, Roger
You've done the same as me, and some others. It makes sense, I think.
I assume we'll also hear back if our grant application has been unsuccessful?
Roll on the Grant giving and drilling then I say. Got a good feeling about this. Just wish I’d jumped sooner from POW and got in here when the sp was under 8p. N ver mind . Am happy with the way this is going.
My guess no deal till after grant and 1st drill results. This will confirm valuation.
I love the way Mark Fairburn in each podcast keeps saying that it's not like OF to use excited language - he says this in each video now. SO actually I'm beginning to think it's very like OF to use this type of language, haha.
Really good video. OF seems pretty clear this is an exciting development. Looking at the mcap makes me think OF needs to find a partner surely? I know this is a very new company but if their findings are good and credible surely it won't be long before someone somewhere will be willing to get involved..? Even though recent increase in the sp is great I assume any whiff of that US Grant will move it on much more significantly