Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
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Where is rosetintedspecs or as I like to call him the PR dept for Lex. So what's the spin on the current situation?
Is it a calculated drop I wonder to get cheap shares? Hope it holds though and reverses the downward trend quickly.
No, just AIM playing its game. Keep the faith
Bad news inbound or something?
I agree.
This is very low (SP wise) considering the recent news flow and also when factoring into account the % stake Lex now have in the Witwatersrand prospects / areas.
As there has been no news recently, the SP is a very 'directionless'. it has dropped recently from 6p mid price to 5.65 now on little trades. I am hoping the SP will change for the better going into October and certainly November time as I would expect news flow on several accounts by then. This of course is only IMO.
Once there is direction and news (esp.on the Harmony JV) then the SP should hopefully start to react. Don't forget that the latest issue of shares were at 6p and the share price is sitting below this level currently. WH Ireland also have a target price of 15.3p in their latest note.
It will take a few years I feel to see the SP mature and really find its level but hopefully with catalysts (news flow) along the way we can see a sustained rise.Truth is who knows. The market will obviously decide.
The company is well run IMHO and has already got a JORC compliant resource (see RNS releases).
DM me on Twitter / X for full note if required. @Davidburton1971
Scarlet, agree, a bit odd, but now we have a report by WH Ireland, and they have HNWs they deal with. It takes time to get an AIM listed explorer onto the radar of institutions. But Two cents rightly points out, this is a medium to long term play, its a 10 to 20 bagger from here over 2 to 3 years. Now that the deal has been done and they have access to all the data, I am sure that we will be hit with lots of interesting info. Also, I would bet my bottom dollar that management has whacked a letter straight off to Harmony asking how the Jelani JV can be processed, something they couldn't do before the deal was formally consummated!! This alone can unlock 3mn oz of JORC reserves, not to mention the mere 33mn or so waiting for us potentially at Kroonstadt!!
Don't forget, Nealon and Olivier have history in SA... and that counts, especially when dealing with a fusty old major like Harmony. Harmony are losing money on a cash basis at this Target mine. Their grade is 3.6g/tonne. The JV is over 5g?tonne. Seems that Harmony is doing a very poor job of managing this mine. Lots of potential upside.
I am rubbing my hands with anticipation. Yet more chances to pick up LEX stock cheap from those who really don't know what they've got in their hands... Ohhhh!!! Joy!!!!
Not sure why its gone quiet after that news - quite bizarre reaction by the markets
I use Research Tree and saw the note, I like this project - this part in particular: Beyond the Jelani JV, there is significant potential to further grow its resource inventory (something the management team has achieved with ease to date). The four USA brownfield projects in the highly prospective, although under-explored, Carolina Gold Belt projects promise expansion of known resources, and the wider WRE portfolio of projects in the prolific Witwatersrand gold region offers massive, although yet to be demonstrated, resource potential.
Looking very strong here. Market is bidding for stock so we may see this tick up and big buys delayed
Casual $71b worth of potential Gold reserves... My calculator just did the Maths
Even if they prove up a fractio nof that it makes this £15m Mcap look prettty silly
This is a monster in the making
37million ounces…. $1920 an ounce…. My calculator isn’t big enough
This is what i'm most excited about. The near term 2-3m oz of JORC reserves from Jelani JV at Target Mine. What an absolute cracker this will be from here on in. Been a patient wait but it really should be trading above 10p+ again soon
Game on !
As its intraday will take market a bit of time to digest and word to spread
Back to 10/11p area next week or 2 i think as people pile in
That is a boomer and buzzing that our billionaire backer has fronted more cash
OK so now we start to get to the sharp end of business. The acquisition of White Rivers is completed. Yes, there is a bit of dilution to come, with around 10% at this stage. However, my guess is that by the time the next lot of shares are issued to Creasy, the share price will be a lot higher, therefore dilution will be less. But remember, as I have said on numerous occasions on this forum, if I am giving up say 30% of LEX to get a world class partner like Mr. Creasy on board with a potential uplift in reserves from just over 220K oz to over 37mn oz (16,000%!!!), frankly, what's not to like? Its also worth noting that Mr. Creasy has injected a further GBP100k into the mix in a small private placement. Those naysayers who thought that Creasy is just washing his hands of WRE are sadly mistaken.
This a a truly transformational deal and could turn our little explorer into a major player in gold production with some of the largest reserves in the world. I am sure that now we have acquired the assets, talks will commence with Harmony Gold re the Jelani JV at the Target mine, which, according to their annual report, only has 4 years of reserves left. This could give us nearly 3mn oz of JORC reserves very quickly.... Watch out everyone.... The game is on. Expect further announcements as to drilling programs and Harmony JV updates sooner rather than later... And don't forget, we have SHALLOW gold in all our concessions except the Harmony JV, but that is not an issue because at the Target Mine, all the infrastructure is already in place!!
Finally the transaction is done. Thats huge news. Suddenly LEX is in possession of a monster asset. Expect things to move VERy quickly now with drill program proving up resources
Great to see Mark Creasy increasing his stake as well. Not bad having a billionaire backer
Some interesting looking trades back on Tuesday morning.. im really liking all these weak hands getting soaked up gonna be no shares available to buy when news starts dropping. Still convinced someone is accumulating a large stake in the background 🤔
cheers lyndon, i got a feeling he was a billy bull **** er
good luck all
I tried to do a call option on LEX. The broker said he had to borrow the stock first so they were covered. Well guess what, it didn't work. Couldn't place the trade. On a slightly different note, we're still waiting for the completion of the SA deal, which will give us control of all that data that Creasy collected over the years. I expect after the announcement, we should see a steady stream of tasty news about geology, drilling programs etc etc. I am still filling my boots up when I can find stuff in the sofa set..... hence my brainwave to do a "call" option....Onwards and upwards!!
Paris, Vixen is a bit of a fantasist regarding the imaginary short that was traded as I have mentioned before it is impossible for anyone except Market Makers in the stock to go short as there is no Stock borrow in Lex. MM's are able to short because they have no obligation to deliver the stock on settlement day but this does not apply to anyone else so any uncovered short would therefore be "bought in" on sett date at considerable cost to the seller.
Should be some important updates coming up in September.
Vixen, you a T W A *, you know that don't you, why would anyone announce on a public forum there punting that everyone one else's portfolio will drop in value so they can make a profit.
Your just a Judas, I don't think it ended well for him
I think you might be right Rosie, the recent buying has been executed in a way not to spook the market but to keep the share price around this level. The buyer is happy to accumulate stock from sellers of the recent placing but at some stage this will dry up and the buyer will have to start to pay up. If an institutional investor prints a TR1 others will take note and maybe wish to come to the party
You only have to look at the trading pattern of the last couple of weeks to see that something is afoot here. Big blocks of stock (well big for LEX anyway!!) trading without an indication as to whether the trades are buys or sells (often presented in grey on this site) and loads of them are delayed reporting, even in the following day or after hours. This has all the hallmarks of an institution, or at least a savvy HNWI buying in a measured manner to get the best average price possible. Accumulation is definitely taking place.
The burning question is by who? The most obvious candidate would be Mr. Creasy, (or his corporate vehicle, Yandal) though its also possible that the shares not placed with "friends and family" are being hoovered up by an AIM fund or a smaller companies fund; it may even be the "gnomes of Bangkok"! . In any case, it seems that either way, we should not be at all surprised to see a TR1 filed in the not too distant future.....someone's got an eye for extremely good value when they see it!!