Member Info for aprogerson

The clearing of 107.5m of Nov-20 Placing shares by Monecor into the SP rise over the last 2-3 days has seen the SP consolidate above 0.215p which should again act as support going forward should we close today above that level.

Assuming 0.215p support holds then then the SP is setup for a sustained rise over the coming weeks to the 0.45/0.5p level with further rise to 0.6p high from Jul-2019 a possibility over the next 2-3 months.

Chart wise this is supported by the upper channel resistance formed from 29-Sept and 20-Oct highs indicating 0.48p available now and 0.6p available from mid Feb-21. The support at 0.215p was established by the prior retracement at 13-Oct-20 from 0.355p high on 29-Sept-20; the SP has pivoted around this point at least twice since then.

Zak Mir @0.45p near term target https://twitter.com/ZaksTradersCafe?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor
AIMHO APR

Todays TR1 Holdings RNS confirms that Monecor has now sold down 107.5m and retains 111.25m of the 550m Placing shares issued at 0.20p as part of the £1.1m capital raise as per RNS 18-Nov-2020.

Summary Monecor position:
Placing shares sold: 107.5m shares sold at 0.2282p for a 14.1% profit (trade = 29-Dec-20 16:23:01 )
Placing shares retained: 111.25m shares purchased at 0.2p
Placing Warrants retained: 275m at 0.3p valid for 2 years
Broker Warrants retained: 20m at 0.2p valid for 2 years

@F79 I'm with you on that one as I think NvS has sent a very clear message to the market of his confidence going forward with or without a AAL deal which of course gives him a much stronger hand to play in any negotiation as he then comes from the point of view that he WANTs a good deal but does not NEED any old deal. I think setting up and then drawing down a chunk of the CLN prior to this is part of that message and positioning.

I therefore see no reason that we should take an overly dilutive position especially one that gives underdeveloped/explored potential assets on our licences for 'free'. The key will be to do a deal that generates increased shareholder value over time especially if it gives us the means to generate revenue to self-fund future exploration over the balance of the licence area, but it looks like NvS already has that base covered.

@san yes that is what I though going through the 4-hourly chart for yesterday afternoon as it was below midpoint price. Given the scale of the sell that is remarkably robust overall price action.

Yes most of the gold market insiders have big equity and/or warrant positions in miners and explorers one way or another especially royalty / streaming companies

@steve WOW that is huge 107/3071m shares is 3.5% of GWMO shares, but is it a buy or a sell as range shown is todays closing not yesterdays ?! I hate delayed AIM trades ... very opaque!
29-Dec-20 16:23:01 0.2282 107,500,000 Buy* 0.21 0.22 245.32k

@San Clearing the warrants is no bad thing as this will put more £cash with the BoD in addition to the current circa £2m already held at the bank as confirmed by Brian Hall on the last PodCast. We know that GWMO is using the current funds to deliver an accelerated exploration and tailings production programme in 2021 both of which should be good for shareholder value:
> Exploration 'should' deliver on proving up on 0.5Moz to 1.5Moz of targeted gold/silver resources across licences
> Tailing production 'should' deliver on modest revenue stream to offset near-term dilution via warrants
> Warrants will deliver further cash to GWMO bank assuming SP stays above warrant strike price 0.13p and 0.2p

Ultimately GWMOs SP will be primarily driven by:
(1) good exploration results and the accelerated 2021 programme is key to generating shareholder value funded from available and future cash from warrants and/or tailings revenue
(2) Gold and silver price underpins value of any discovered resources and/or any future production
(3) Gold /Silver ratio currently 1:75 and long term ratio is 1:20 implying silver will rise faster than gold IF you believe we are in the early stages of a gold bull market

GWMO licences have high gold grades and even higher silver grades from historical production implying modest extraction costs and good profitability as mineralisation is shallow.
AIMHO APR

GWMO Headlines & need to know:
(1) Strategic shift from Cu to Gold/silver focus & 0.5Moz to 1.5Moz exploration target @RNS 13-Nov-2019
(2) M1 Copper asset is JORC compliant ,but deemed uneconomic without JV & cash injection
(3) 2021 works programme plus £1.1m Placing to accelerate works @RNS @18-Nov-20
(4) Cash position circa £2m vs. £6.9m MCap @30-Dec-20 ref CEO PodCast Dec-20
(5) 2020 Programme seemed to go well, but poor 2020 comms ... BoD making efforts to improve on both fronts
(6) Informative Sept-20 Presentation & Dec-20 CEO interview @ http://www.greatwesternmining.com/home

Tailing Production 2020 News:
> Olympic - estimated 41kt at 1.67g/t from Sept-20 presentation
> MJ - estimated 12kt at 2.28g/t Gold and lots g/t Silver from @RNS 15-Oct-20
> Trial Gold production from MJ Tailings ... expected end Dec-20 using mechanical separation only
> Results from MJ tailings samples sent to UK for assays ... expected early 2021
> Tailings Recovery from 48-Hour bench trial: @RNS 15-Oct-20 & Trial production in 2 stages:
(A) Mechanical gravity separation = 30% gold and 15% silver. Status = kit available & await contractor to run it
(B) Mechanical gravity separation & heap leach = 87% gold and 46% silver. Status = further work on heap leach viability required

2021 Accelerated Works Programme @RNS @18-Nov-20
(1) Mineral Jackpot (MJ) spoil heap recovery: Commercial development programme planning
> evaluation of Cyanide vat leach facility at GWMO site to be based on awaited MJ tailings assay results
(2) Olympic Gold Project: Drilling at the Trafalgar Hills Prospect and IP survey over the OMCO Mine extension
> Magnetometer infill surveys confirmed 4x leads with TH and OMCO leads identified for 'fast tracking'
(3) Rock House (RH) Group: Drilling at the Southern Alteration Zone prospect
> Not previously explored, drilling or mined. Drill targets identified via magnetometer survey
(4) Mineral Jackpot: Drilling at the Bass Mine prospect within licence area
> 2020 exploration doubled mineral footprint and confirmed that mineralisation at all 5x historic mines are connected
(5) Further evaluation of a short-list of new opportunities for gold and silver in Nevada

What we know and/or infer: Any £revenue are my estimates based on assumed full tailings production @90% gold & Silver recoveries with OPEX costs not known:

@Olympic Prospect:
> Project option cost remaining =$150k then exploration and/or tailing extraction licence would be required
> 41kt tailings grading 1.6g/t gold (TBC) = 2,082oz Gold at $1,800 gold = £2.9m revenue

@Mineral Jackpot Licence:
> current licence to extract 900t tailings only & 25t extracted Oct-20 for trial recovery plant
> 12kt tailings grading 2.28g/t gold & 658g/t Silver (TBC) = 860oz Gold and 250koz Silver at $1,800 gold = £1.2m and $18 Silver = £3.5m revenue

Still lots to look forward to and will not take much positive exploration news to move the current SP.
AIMHO & DYOR APR

https://www.share-talk.com/share-talk-bulletin-board-heroes-tuesday-29th-december-2020/#gs.ootmtn from 02:45 minutes.
Zak targeting 0.45p by end Feb-2021 for GWMO now broken above 50 DMA, prior support and also Oct-20 resistance.

I think it has been a favourite of Dominic Frisby for some time

Wow over 500 trades and 282m volume so far today is encouraging to say the least!

Empress Royalty TSSV:EMPR opens on TSXV today 14:30 to 21:00 UK.
Key statistics:
> Total shares: 74,769,385
> Gun shares: 1,000,000 for CAD$250k or £146k @CAD$0.25c as per RNS 23-Oct-20
> Gun %shares: 1.4%
> EMPR closing: TBC
> EMPR MCap: CAD$18.7m or £10.84m @CAD$0.25c opening

Let's see what todays TSXV opening debut brings ....
APR

@Scotty Lets see ... I've never pretended my NAV calculations predict anything as I think one poster here pointed out that NAV can only ever look back. I also think I've said that that NAV does not value sentiment or anything forward looking as both GGP and Wishbone SPs clearly attest as PIs are paying for future revenue/profit potential.

It will be an interesting 3-6 months as Rincon gets on with its 2021 programme and the various IPOs in the pipeline play out further strengthening the underlying NAV position. I suspect GUNs SP will benefit in due course especially as the news flow here should be strong.
ATB APR

@Scotty Not sure what you are trying to say.
GUN seems to be back on its backside trading on or about NAV yet again let alone "500% factored in" as you put it.
APR

@socialist Another way of looking at this is that Rincon is £9m MCap whilst Wishbone is £25m so Rincon would need to almost 3-bag to catch it up adding £15m to Rincon and @17% GUN shareholding would equate to £2.6m increase from GUNs current £6.85m MCap to £9.4m on a pro-rata basis for a 38% SP uplift everything else being equal.

Alternatively if Rincon were to 5-bag to £45m (uplift £36m) on some decent drill results or something similar then 17% of £36m uplift = £6.1m to GUN or a 90% SP uplift to GUN.

Lets not forgot we have a succession of upcoming IPOs with Empress Royalty, Angold, Rogue Baron and Low6 over the next few days to few weeks that should all help in their own right.
ATB APR

Sorry 2nd items meant to say ...
> Mechanical gravity separation & Heap Leach = 87% gold and 46% silver

I think it will be 1 or maybe 2 ounces at best as they had 10t of spoil heap material from MJ with at most 2g/t and stated 30% recovery from basic gravity separation. Check RNS 15-Oct-20 for details.

Any recovery is GOOD news. Spoil heap materials we know of are:
> Olympic - estimated 41kt at 1.67g/t from Sept-20 presentation
> MJ - estimated 12kt at 2.28g/t Gold and lots g/t Silver from RNS 15-Oct-20

Recovery from 48-Hour bench trial: @RNS 15-Oct-20
> Mechanical gravity separation = 30% gold and 15% silver
> Mechanical gravity separation = 87% gold and 46% silver (includes above gravity separation first)

Note: we need to take above grade figures with very large pinch of salt until proven up by sample assay results. Also my expectation is the proposed Heap Leach approach will give better results than 48-hour bench tests. They need to find a way to improve the silver recoveries as there is a LOT of silver in those tailings and potentially worth as much as the gold if indications turn out to be correct! You need 75 ounces of silver to match 1 ounce of gold by current market rates $1,900 gold and $25 silver.
ATB APR

@socialist WOW just spotted changes between 21-Dec-20 Open and 24-Dec-20 market close:
Gold ..................... $1,883 to $1,869 ................................................ down 1%
WIshbone (AIM:WSBN) 13p to 17p or MCap £19.1m to £25m ......... up 31% on no news since 10-Dec-20 placing
Rincon (ASX:RCR) A$0.20c to A$0.31c or MCap £5.8m to £9m ....... up 55% on IPO 21-Dec-20
GUN (AIM:GUN) ..... 2.55p to 1.85p or MCap £9.5m to £6.85m ....... down 28%

All the above confirms is that Wishbone is highly sentiment driven whilst Rincon does not yet register on anyone's radar particularly as we know:
> Rincon is fully funded to Hasties MRE with £3,8m at IPO whilst Wishbone raised £1.75m at 10p on 10-Dec-20
> Rincon has 20-80m of barren cover whilst Wishbone has 120m
> Rincon has 24km drilled with good grades from surface whilst Wishbone has 250m drilled and no mineralisation

Go figure on relative performances, but I expect Rincon has lots yet to deliver!
APR

@Dorman thanks interesting read

Cheers everyone and have a good Christmas