Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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I’ll be amazed if the graphite thing is anything other than a complete non-starter. Graphite projects need to be measured in the tens of millions of tons.
IMO the nickel target at Dotted is now the best PALM target by some distance, and I’d be tempted to whack a quick couple of holes in there with current funds (if sufficient)
Otter Tooth and Silver Rim JP.
I am not sure what we have atm apart from 2 vms as much as Darren appears to be crowing about them and moaning about the market reaction.
One has to wonder where and how we are going to get that amount of money to drill without serious dilution.
He's got to step up to the plate with something and quickly.
Do we think there's much in Obonga? not seen much evidence so far.
The area around Awkward & the lake has been explored for the last 50 years. Lianne thought there might be a Ni/PGM conduit but it turned out to be nothing. Would you rather have a ton of graphite or a ton Ni?
Wishbone exploration has been hit & miss, mostly miss. There's zinc but nobody's getting excited, can't see BHP knocking on the door.
Survey no information from recent drill apart from its a VMS.
That leaves Ottertooth to be drilled amongst the priority targets.
PALM have an obligation to drill another c5500-6000m in the next 18 months which is fine if they find a high grade/valuable target. PALM has limited funding and I'm wondering if Obonga is the right horse to back?
Exactly my thoughts Metalhead. One thing is for sure, Darren needs to up his game from last year by a helluva lot because last year was woeful for many reasons. But I am sure he will have learnt a lot of lessons.
Agreed Metalhead.. The next steps are going to be crucial.
Darren meeting the indigenous communities 90% of the Green stone belt @ Obonga.
Be nice the get FMETS listing over the line .. Big Bear had some mega soil samples....
I do think PALM has legs....
ATB
The good thing right at this moment is that the balance sheet is fairly well underpinned by PNT and hopefully FMET. However, PNT will need to raise money soon (they announced a failed attempt some time last year as I recall) and FMET’s listing is currently an unknown quantity (how much will they raise at what valuation). We also need to see what PALM will do about funding now, as a standard raise is clearly not going to be attractive. I suspect Darren will try to raise some money on an option/earn in arrangement at Dotted. We’ll see
Now that JPM is very debateable.
I am with Ian on this and a true believer Palm over the next few years will be a mega investment.
ATB
What an idiot , more money than sense.
Nice one Ian ..shows a lot of confidence...averaging down with nearly 4.8m shares...
One hell of a pay day for you if Panther comes good...
Well we know it has too from here...
Canada really has little value... accredited to the balance sheet...
This is where the big money is made....
ATB
BCB: Panther Ltd has a nickel resource, in a completely league to PALM. First Class Metals has nickel, again in a different league.
DYOR but the risk profile of either company is superior to PALM.
Well yes JP, Darren back Canada instead of Australia. I wonder what was instrumental in making that choice?
I don't think it is a lifestyle company though.
That made me laugh JP... :) I have a couple of million of these shares... :)
Good job I don't need the money....
Seriously tempted to average down big style now...
Going to ponder on the pipe.... without the lady geologists...
Will send a few smoke signals to to Canada...or Hack the Chinese Balloon that is over Thunder Bay as we speak....
Looking for minerals... comprehensive mag fly survey :)
Scattergun approach
Opaque geology and drilling campaigns
Limited accountability
Backed the wrong horses
Looks like a lifestyle company for those wishing to smoke the First Nation's dope pipes and frolic around the woods with lady geologists.
SFH only 45% down, ahh to be just 45% down :-/
JP2000 yes it was a bit odd to be writing with a piece of graphite then to be told in the interview there is no plan to do anything with it.
The worry from my point of view is that there doesn't seem to be a coherent plan and I am beginning to worry about the competency of the geologist.
We rushed to raise, we rushed to drill but for what.
Time for Darren to pull a rabbit out of the hat or this year is going to be every bit as bad as the last.
Those that can do, those that can't JV
JV coming JP.. watch this space...
I'm really annoyed about Awkward & the graphite deflection when targeting Ni PGM and the audacity to post mineralised core photo's on Twitter turned out to be a C o S.
There's a rapidly approaching problem on Obonga which is they have 18 months to complete 8,000m of drilling and frankly you'd have to be pretty dumb to fund it.
A few good buys will sort it
The last 2 days price action on such minimal volume means nothing g but sentiment is down
To be fair to Darren, the problem on this occasion is that the drill bit didn’t come up with the goods. It’s actually pretty unlucky in my view to discover a VMS cluster which then turns out to have no valuable metals in it. Can’t see how Darren was supposed to know that except by drilling
Yes, I have a question ...
Why should we believe Darren any more?
I'm now more than 45% down on PALM and see no upside. Every announcement or interview leaves me feeling my gaze is being directed to a message painted on the side of a bus, that I'm being being sold a Brexit by a Boris Johnson.
I will take you up on the offer, thanks.
Are there any plans for an interview with Ben Turney @ Kavango Resources, its the junior explorer that's not very good at exploration?
If ANYBODY wants to e-mail me questions ABOUT any aspect/subject regarding PALM please do at davidburton.tms@gmail.com. Maybe some aspects of the business/strategy are confusing or a little complicated and need expanding on in a Q&A session/Interview??
I will forward any questions/points/issues onto the BOD. Any constructive feedback is always welcomed by the Company...
The offer is there.
David Burton
Still holding a CORE here...but a lot less than I used to have.....it would be nice to see a turn around and more share buying activity to support a rising SP for a change. still worth holding for FOMO...and there is still PNT to help support our M/C!!
Tell Darren that he could save a lot of time if he likes Graphite...but getting Kerrim's permission to spent what little we have left from the last raise after expenses......and buy some GROC.L
I posted on this yesterday:-
"So £12bn ???? in situ with a market cap of £6m.....lol! £12bn @5% = SP of 535p...about 100 fold increase.
• Amitsoq-Kalaaq graphite project: MRE c. 23 million tonnes of ore x c. 20% grading = c. 4.6 million tonnes of graphite in-situ. x c. USS2,000/tonne = c. US$9 Bn. in-situ.
• Thule Black Sands heavy mineral sands project: 185M. tonnes of ore x 8.5% ilmenite grading = 15.725M. tonnes ilmenite in-situ. x US$200/tonne = US$3.145Bn.
Am I way off?? lol."
GLA
Not immediately
Im asking a genuine question about PALM as ive taken a small position here. If they recently had a raise, where has all the money gone .sounds like a new raise cant be far off.