Adam Davidson, CEO of Trident Royalties, discusses offtake milestones and catalysts to boost FY24. Watch the video here.
Final results are now out and I must say I am now very positive about GWMO prospects given:
> Production JV in place ready to operate subject to final licence
> Copper prospects in West Huntoon now look very good subject to drilling to prove up
> Olympic licences now 100% owned by GWMO
> Extraction licences for "mining" historic spoil heaps now confirmed, along with access roads established and JV ready to operate
We just need that Environmental licence and all systems are go!
ATB APR
@Travelcard Thanks for your suggestion "Call me the voice of reason" ... I haven't laughed so much and so hard in ages!
ATB APR
Ditto Lantier
ATB APR
@Simon We have had to listen to TNRs incessant ramblings for so long it is nice to have other posters brave enough to post something/anything in the face of their coordinated de-ramping over many many months.
You keep going Jarv !
ATB APR
Quarterly report issued 24-Apr-24 following West Arunta update on 22-Apr-24 has some very good updates and good cash position given exploration works now well underway across its licence areas:
HIGHLIGHTS
WEST ARUNTA PROJECT
The first diamond hole 24WADD001, completed at the Pokali IOCG Prospect, intercepted three main zones of
copper sulphide mineralisation over a downhole interval from 130m to 550m.
Preliminary pXRF1 analysis confirmed the presence of elevated copper mineralisation within these main zones
with semi-quantitative results returning spot grades up to 7.21% Cu.
Reverse circulation drilling is set commence from 23 April 2024.
Ground gravity and passive seismic surveys were completed delineating several new targets including the
bullseye ‘Avalon’ Carbonatite-Nb-REE/IOCG-Cu-Au gravity target.
Subsequent to the period, the second diamond hole 24WADD002 commenced at Pokali East.
Subsequent to the period, a dipole-dipole inversive polarisation (DDIP) survey commenced at Pokali.
LAVERTON
Independent consultant Resource Potentials completed a geophysical and GIS-based desktop study on the gold
exploration potential of the Laverton Gold Project in September 2023.
Based on the independent study report, the Company is developing a new gold exploration strategy for Laverton
which, facing a rising gold price, is likely to implement from Q3 2024.
Details of the exploration strategy are being finalised and the Company will inform the market in due course.
CORPORATE
The Company completed an oversubscribed Placement to raise $1.43M (before costs).
Cash balance at the end of the quarter was $2.14M.
Rincon's SP was A$0.03 before the announcement last Monday and today is A$0.086 today a week later having briefly hit A$0.10 overnight in Aussie.
The SP 3 weeks ago was A$0.024 so yes up circa 400% in 3 weeks low intraday high overnight.
ATB APR
THis was driven by Rincon Resources (RCR) announcement of gravity anolmaly at tehir West Arunta licence area on 22-Apr and RCR response to query by ASX surrounding large change in price and volume since the announcement.
About time though and shame about GUNs timing on the disposal
ATB APR
https://www.rinconresources.com.au/asx-announcements/
@Chsler I just love Andrew McGuire been watching his LFTV podcasts for 2-3 years now
ATB APR
Really good news that final $180k to fully acquire the OMCO licences has now been concluded. This allows the OMCO tailings to be reprocessed via the processing JV.
ATB APR
@GTMufo Its Spring in Nevada ... you have to wait for October for winter to start unless you are confusing GWMO with some other company?
ATB APR
· IP and resistivity surveys are currently being carried out at the West Huntoon copper porphyry prospect and the M5 gold-silver-copper prospect, following successful field exploration in 2023.
· Surveys will provide information about the subsurface for drill targeting at both prospects.
· Both surveys are expected to be completed during April.
Good news %holdings by SpreadEx have dropped from 3.9% to 2.9%
ATB APR
Placatory RNS and bottom line:
> talking to everyone involved at Kor & hope to resolve soonest, but nothing mentioned about what was discussed, by whom or anything declared as resolved/agreed
> currently Kor using up ore stockpiles as processing plant unaffected, but nothing about how long stockpiles will last at current run rate
> Commercial production at Kor delayed ... no surprise there then
Nothing about Yan so assuming still on target for 90k gold/annum
ATB APR
@eafster GWMO are an EXPLORER so they prospect on their licences for valuable minerals and target the most prospective spots informed by geoPhysics, soil surveys, airborne surveys and good old "boots on teh ground" plus drilling once they have done everything else. If they are lucky they find something and if they are super-lucky what they find is commercial.
Explorers by definition do exploring so (usually) have no revenue so have to issue new shares to raise capital to continue in operation which is what GWMO have been doing since 2016. GWMO PIs have been diluted after each capital raise so GWMO have invested in a processing JV to generate some revenue off of their historic spoil heaps going forward which (should) reduce the need for capital raises.
Junior explorers are very high risk and GWMO is no different in that respect
ATB APR
@GTMufo Read the RNS .. they are NOT drilling
ATB APR
@Bebeto I just hope GCAT pull their collective finger out and get this resolved. Having gold at ATH and this share suspended is just bonkers
ATB APR
@wiltshireman Agreed GWMO BB has been that way for a long time and I hope it goes back to being a sensible discussion forum rather than a single posters view squashing any "dissent"
ATB APR
Interesting RNS today about Rhyolite Dome at the Olympic prospect as an as yet untested drill target with historic soil sampling completed and 3 samples of at least 0.2g/t equivalent anomalous gold and 1.7g/t silver (RNS stated 207 ppb gold and 1,780 ppb silver).
Looking forward to drill programme being announced
ATB APR
@Chisler He uses "we" as he has at least 2 accounts that way he can agree with himself and recommend his own posts when he is preaching about how wise he is
ATB APR
Well this should keep the lights on whilst the resolve the massively overdue accounts to end Jun-23 and interims to end Dec-23 plus resolve the Prospectus with the FCA. It is beyond me how someone is willing to invest £780k with the shares suspended or indeed how that is possible as the prospectus is outstanding so (theoretically) shares cannot be issued or traded ... but I am glad they did as heavy dilution is much more preferable than GCAT going bust and Pis losing 100%.
ATB APR
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The Company has raised £780,000 by way of a Subscription ("Subscription"), through the issue of 260,000,000 new Ordinary Shares of £0.001 in the Company ("Subscription Shares") at a price of £0.003 per Subscription Share.
The funds of the subscription will be paid in five equal instalments of £156,000 and the Company will issue 260,000,000 new Ordinary Shares upon completion of the final instalment
The subscribers from the Subscription will be issued with one warrant ("Warrants") for every new Subscription Share subscribed for, with an exercise price of £0.0042 per Warrant. The Warrants will expire in three years from Admission of the Subscription Shares to trading.
The funds will be used for working capital by the Company and its subsidiaries.