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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A drop like this is often on completion of drilling as people think it might be a while til results. I don't think we'll have too long to wait and early indication are very encouraging.
"Positive update from #PML - market 12% down - quite bizarre!" https://twitter.com/pauljohnson9691/status/938711278461358080
If any of you know about grades, the density and polarity of these grades are just astounding...
There is certainly potentially exciting upside potential from the results given historical grades. "Some of the better historical drilling intersections at Plateau include 89m @ 1.6g/t Au and 44.5g/t Ag from 61m (hole PL102), 11m @ 2.0g/t Au and 14.3g/t Ag from 44m (hole PLP127) and 8m @ 3.4g/t Au and 10.1g/t Ag from 39m (PLP130)."
Sulphides observed. "Geological logging of the Reverse Circulation chips recorded observations of sulphides within altered faults and breccia zones."
Never seen grades that high before, nice. "44.5g/t Ag from 61m"
as to what the results are, its contained within the RNS We are looking for spectacular drilling results
https://investegate.co.uk/papua-mining-plc--pml-/rns/drilling-update/201712070934286746Y/
Drilling completed. Chief Executive Officer of Papua Mining, David Price commented: "We are pleased to have our first drilling campaign completed ahead of time and within budget. Papua is now in an excellent position to have all drilling samples analysed, verified, interpreted and remodelled within an efficient timescale. We look forward to updating our shareholders on the results of this drilling programme."
Another 500,000 buy at the end there showing as a sell. Quite a bit of selling today but they all got mopped up, did well to only end 1.7% down. Still feel that there is a breakout day getting closer for us.
The drilling RNS was from the 22nd with 12 holes so they should have finished by now. I would like them to report they have drilled 1 or 2 more in the time as well but 12 is still a decent amount. They haven't stipulated when results would be but I'm hoping we might get preliminary results in the next week or so. Would be nice to get an RNS this week confirming drilling complete and initial observations are very encouraging. I'm monitoring the weather over there as well ( Townsville ), and the good news is my weather app is saying hot and sunny for next 15 days so no delays due to weather.
From my understanding its a 12 day drill from the 24th. So should be finished soon. Are people expecting results soon.
Looks like someones loading up with 2x 500,000 buys just gone through.
Couple of nice 2x 250,000 buys gone through, one showing here and the other on NEX. I notice Mr 266,628 couldn't hold onto his shares very long. Bought on NEX at 10:04 with his sell showing on here at 10:32 for a �300 loss ! Unbelievable..
Quite a few buys been going through on NEX this morning as well, in fact i think they are all buys on there bar one. Looking forward to hearing about these drill results.
Defo seems to be some resistance around the 1.5/1.6 area, proving to be a tough nut to crack. Just need to get rid of these sellers and we're away.
The price has been moving sideways in a low base for a good long while now. http://goo.gl/257NQf Once it breaks above the top of the low base there could be a significant move upwards.
PML also have significant assets in Papau New Guinea, with the following areas : Tripola - 7,000m of drilling since Jan 2014 - Historical copper grades of up to 29% cu !! - Large mineralisation system Mount Visi - Historical gold grades of 35.5g/t in outcrop - Historical copper grades of 9% cu in float and 4% in outcrop Junction - Low grade copper mineralisation Plesyumi - Historical grades of copper 44m @ 0.85% cu 110m @ 0.31% cu 102m @ 0.2% cu These assets in PNG alone could be worth many multiples of the current mcap. We are without doubt an asset rich company, just need to unlock some of the potential and we could be trading at many multiples of today's mcap.
I’m quite liking these SP movements at the minute. I think this share will take a lot of people by surprise. Initial results are due any moment now and the assets look absolutely world class. Should be a cracking end to the year here. WD
PML also have other assets in Australia, all 100% owned : - Marengo - Copperhead Marengo has high grade rock samples of gold, Copper and silver including historical drill result of 12m at 6.1g/t gold. Copperhead is a similar prospect, open in all directions with historical samples of 2.81% cu Both these areas are under explored and could be huge in their own right in time.
PML also have several other prospect areas within the main Lighthouse licence area : - Double event prospect - Lower lighthouse prospect - Bluff creek prospect All of the above have historical high grade Gold drilling samples along with Silver, Copper and Zinc. They are literally sitting on a gold mine here in my opinion, over 20Moz of gold has been produced in this area...it could be huge for PML at �5 mill mcap.
Been reading more on the company presentation around plateau prospect where they are drilling now. They are looking for upside potential to match neighbouring gold deposits. These are large high grade deposits we're talking about here : Mt leyshon - 4Moz Pajingo - 3.7Moz Charter towers - 6Moz+ This could be huge for PML with an mcap of only �5 million. On page 12 it mentions regarding the plateau prospect : - High grade gold and silver targets - Visable copper mineralisation - High background zinc anomalies They also have multiple prospects over the queensland area, plateau being just one of them. This could be very big.
Was defo a very interesting last 15 minutes. They should raise the bud early tomorrow morning as I could sell at 1.5p at the end there. Should be a good day as folk realising what we have here.
Finally guys...Game On. atb.
Yep nice surge at the end there...i could sell above the mid at the end which bodes well for tomorrow.