Member Info for aprogerson

Silver Short Squeeze - For those late to the Reddit phenomena and want an up-to-date commentary on WSB really ought to listen to Mike Maloney https://www.youtube.com/watch?v=Jq0L5LOqLAU who has 609k subscribers and takes the current situation apart ... he makes some really good points.

Frederic Bastiat (1801-1850) "When plunder becomes a way of life for a group of men in a society, over the course of time they create for themselves a legal system that authorises it and a moral code that glorifies it!
ATB and really DYOR
APR

@peggy I understand what you are saying which I think we all understand very well. I even sat here with my calculator and worked out how many more shares I would now have if I had sold at 7p and rebought with proceeds at 5.25p ... what if I could do that on every share I own I would be rich! Sadly I am not rich.

I try to avoid that way of thinking as it easily gives way to FOMO, emotional bias et al unless of course you enjoy the adrenaline from trading the volatility and associated risk to your capital. If so then spread betting would be your thing as risk controls are far better.

I prefer not to day trade but invest where I see benefit, top slice or cut my losses (yes I have those too!) and rebalance my small portfolio when I am able. I wish I had 20/20 hindsight, but I don't, so I make the best of it I can like everyone else on these BBs. At least allow us the illusion while we wait.
ATB APR

@sirlosealot I ran the numbers on how many ounces gold and silver were likely from processing a few ton of tailings. I gave up reposting it after post after post proclaiming multi kg dore bars to be expected ... which of course is wishful thinking.

I've always said the small scale production is a useful source of additional income that will reduce likelihood and/or size of any future cash raises and/or could be use to further accelerate exploration going forward. Of course what it would do transform GMWO SP and its ability to process future primary ore for itself once have proven location of one or more new veins.
Fingers crossed
ATB APR

@D220 Indeed it is in bargain territory and I am overweight on my 2 copper plays now namely CCZ and ARCM as the copper price backdrop just looks too good to miss and both are very well placed to benefit from it.
ATB APR

@foolsandhorses 100% agree he may not be a confident presenter but he has delivered on everything he set out to do on 2020 programme and so far so good on 2021 programme.

I think anyone talking to Katie on a PodCast would find themselves discombobulated!
ATB APR

@Ken Sadly my whole portfolio was red yesterday and much the same again today which includes Rincon down to A$0.267c on the ASX overnight.
ATB APR

@franco Gap now (almost) filled so expect PX to bounce at 3p when it hits 50% retracement on recent rise from 1.65p @24-Dec-20 to 4.3p high on 11-Jan-21 BO RNS news. Shame the large gap up from 3.05p looks as if it will be closed now with todays PX low of 3.09p as I write!
ATB APR

@peggy no worries

@peggy LOL and yes charts aren't everyone's proverbial cup of tea
ATB APR

If you like charts (I do) then PX is currently sat on 61.8% Fib retracement at 5.1p which should also provide some additional support.

@peggy might be right and we are all deluding ourselves that a decent outcome won't arrive, but I don't subscribe to that view although I do accept it is a possibility hence keeping my portfolio as balanced as I am comfortable with and as previously stated I am 'comfortably uncomfortable' with my ARCM holding which is overweight.
AIMHO & GLA APR

@james I've also got my ARCM chart open and like you was surprised at the drop particularly after the 2 very strong gap ups through resistance at 4.1p and 5p. One such gap up is usually a strong indicator of a substantial rerate rather than 2x gaps ups and a large drop.

However, the chart is also demonstrating a clear pennant/bull-flag formation and price rejection at 5p this morning. Hopefully the 5p support now holds as that small gap up has been closed. A close above 5p today is a good sign that we should get some consolidation between 5p and recent high at 7.2p whilst we await further news on a possible transaction and PIs continue to hold/add.
ATB APR

@frog This is AIM, very low MCap, high risk & high reward profile, share register is almost wholly PIs and a good chunk of those not very 'sticky' short term speculators & day traders so GWMO will remain volatile until MCap increases IMHO.

Brian Hall also mentioned addressing shareholder register on recent PodCast doubtless for similar reasons. Licence 'promises' will need to be turned into substantive drill 'results' for this to shift as this is what will drive the SP to multi-bag and make GWMO more investable for the HNW individuals and IIs probably when MCap = £50m+.
ATB APR

@bsg Fingers crossed then

@F29 You shame me with your succinctness
ATB APR

@bsg Apologies a buyout offer at 10p values ARCM at £104m which would be derisory given Sentinel/Enterprise mines proximity, ARCMs higher grades and sheer scale of licence areas. I would expect 10p if ARCM went it alone as a producer only using its wholly owned Kalaba plant fed by its own mines as per 15-Dec-2020 RNS.

"This is a major and very exciting development for us and is the result of a significant amount of work completed over the past year. Detailed metallurgical test work and financial studies project a highly attractive return on investment for Zamsort with annual free cash generation per annum of around $15 - $20m at conservative copper prices, which would be used to progress further drilling and return capital to Arc Minerals. Capex requirements are minimal and likely to be financed by offtake agreements or asset-backed lending. Our current timeline indicates production potentially commencing in around 12 months' time.
I look forward to providing further results from these studies during H1 in 2021."

My post 14-Jan-2021 ... If anyone is uncertain why we keep on mentioning FQM Sentinel mine as a 'valuation comparable' the diagram from Zamare Minerals from their website showing their adjoining licence area and the proximity of both the Sentinel & Enterprise mines in Zambia should help ... they are about 40km away from ARCM licence areas! https://www.zamareminerals.com/s/34/ntambu-licence

Check a number of other posters estimates based on the accepted 'comparable' valuation method and you get a much higher value somewhere in the range of 15-25p and that is NOT for a 100% wholesale buyout of ARCM, but for sale of ONE tier 1 deposit only.

@bsg I really think you are the one that needs to wake up
ATB & GLA APR

I like the ASX rules for bothy IPOs and the quarterly updated 'Announcements' with facts and figures to keep us PIs informed .... AIM would do well to follow ASXs lead.

We are down as the market would have preferred more Big One drill results ... who wouldn't with Steller results so far! I am expecting CCZ to announce that their drill programme at BO to be rejigged for end March restart to ensure that continuation of deposit can be proven as with those grades, shallow depth and decent intersect lengths this is becoming far more likely that a JORC resource will be economic with a shallow open pit approach and very minimal barren cover.

We also know that they are busy plugging the drill results into their model that will be used to build the JORC resource assessment so happy days!
ATB APR

Exploration news is what will drive GWMO SP in 2021 as metals processing will play its part later. OMCO target identified should have been a separate RNS in my view as impact lost with other 'stuff' otherwise. So my 'alternative' RNS is:

OMCO extension target identified for drilling at Olympic

"Great Western has now completed the acquisition and processing of data from a follow-up Magnetometer survey conducted over the Olympic Gold Project, using more powerful instrumentation and focused on specific areas of interest defined by a broad survey conducted in 2020."

"A strong anomaly identified by the most recent Magnetometer survey now provides a preliminary indication that this may have been successful, with enough information to define drill locations with confidence."

GWMO 2021 programme is fully funded and for end March start when weather improves and access becomes possible. Good progress is being made procuring drilling contractor and light weight drilling rig in time for exploration programme commencement as scheduled.

GWMO continues to progress small scale production plant design and awaits overdue results from UK based assay lab now expected in 2-3 weeks to inform process flow sheets for both gravity separation and heap leach pad process stages.
< Unofficial RNS Ends >

... and everything else from todays 'official' RNS!!
> Fully funded 2021 accelerated programme reconfirmed = yes we know & nice to be reminded
> RH trenching successfully located further targets on virgin ground = good news
> Await UK lab assays to confirm optimum processing parameters for small scale production = running late, but progressing
> Exploration mobilisation targets start late Mar-21 subject to weather clearing = yes we know & nice to be reminded
> Tailings processing held awaiting better weather = no s**t sherlock, passable roads always help

Looking very good indeed for GWMO in 2021.
ATB APR

Just scanning my watchlist and noticed Oresur Mining (AIM:OMI) RNSs appointing NvS and Non-Exec on 12-Jan-21 and conferring options 29-Jan-21 as per below:
https://www.lse.co.uk/rns/OMI/board-appointment-and-drilling-update-fp1a6lblywwdg1s.html
https://www.lse.co.uk/rns/OMI/new-director-option-issuance-j0i8uhswnnjv9oh.html

"Board Appointment
The Company is pleased to announce the appointment of Mr. Nicholas (Nick) von Schirnding to the Company's Board as an Independent Non-Executive Director with immediate effect.
Nick has over 25 years' experience in mining and natural resources, including strategic development, M&A, restructuring, driving operational change and corporate governance.
Nick is Executive Chairman of Arc Minerals plc, a London listed mining group with interests in Africa, and also Chairman of Fodere Group, a private company that has developed environmentally sustainable technology to extract high value minerals from ore. In addition, Nick is a Non-Executive Director of Jangada Mines plc and Edenville Energy plc, which are both listed on AIM in London.

Previously Nick was CEO of Asia Resource Minerals plc (formerly Bumi plc), a FTSE listed mining company and was instrumental in successfully restructuring their 25mtpa open pit coal mining operations. Nick was also deputy chairman of Berau Coal, Indonesia's fourth largest listed coal company. Prior to this Nick held senior roles at both Anglo American plc and De Beers.
Nick has worked and lived in both developed and emerging markets including the UK, India, SE Asia, Africa and South America.
Nick will be joining the Company's Audit Committee and Remuneration Committee with immediate effect."

@bsg4 LOL I needed cheering up. Is your day job as a stand-up comedian perhaps? You might want to review your material as it seems a bit thin to me.
ATB APR

Brian Hall stated lab results expected by end of January ... so that is tomorrow then! So we should be getting an RNS with an update most likely early next week confirming receipt and assay details
ATB APR