Member Info for aprogerson

@doubleUp as Bangkok Blue might say "May you live in Interesting Times"

SP sat at prior strong support of 0.215p or warrant strike price +10% needed to move new shares so no real surprise. Price dropped below this to test prior uptrend support and bounced off it indicating strong buying below 0.215p.

Any further SP drop would be surprising, but if it did I would expect very strong support 0.185p.
AIMHO APR

As one of your of called 'clowns' I have pointed out on many occasions that GWMO is an Explorer with no revenue and explained in great detail how this works

As a shareholder no one intuitively likes a Placing because of the dilution UNLESS it creates shareholder value which drilling and further identification of targets will do. Confirmation of £2m cash for a £5.7m MCAP Explorer is a BIG plus.

GWMO has been busy identifying prospective targets which it now needs cash to drill and/or further funds to hone in on exact targets ... this is a GOOD thing as is confirmation forthcoming trial stage gold production & associated contracts.

Not happy with more warrants or shares, but very happy with £2m cash to fund considerable drilling and IP surveys at this MCap. Cautious about 'new' and hopefully shiny prospects but would rather focus on what is to hand thanks GWMO.

Agreed @peggy Sturec was a right royal pain, but I wish MetalTech well as that will trigger a payment for us.

I suspect we are now down to the sticky holders after the last couple of weeks ups & down have flushed out the weak holders

@peggy If I remember rightly Sturec was indeed a very attractive 1Moz Gold JORC compliant asset apart from 2 minor flaws:
(1) the mining licence was stuck /opposed because it included some of the local town & this upset them
(2) the gold extraction method deemed most applicable was banned making production viability tricky
... so the decision was made to divest and keep some skin in the game. If foresight was as good as hindsight then yes the decision 'might' have been to keep it

Thankyou @Bankokblue it is very nice to have someone talking sense on this BB

@Alyhels, I'm guessing the market didn't move the way you wanted it to?

More excellent drilling results at 1 Moz Sturec deposit announced on ASX https://hotcopper.com.au/threads/ann-major-extension-potential-at-sturec-gold-mine.5757713/
Bodes well for a JORC upgrade and passing the 1.5Moz to trigger payment to ARCM

LOL would help if I posted on correct BB ... apologies

More excellent drilling results at 1 Moz Sturec deposit announced on ASX https://hotcopper.com.au/threads/ann-major-extension-potential-at-sturec-gold-mine.5757713/

... and I thought it was the MMs job to create liquidity to raise prices to flush out sells and vice versa?

NvS should now provide an update as per his prior promise/s to keep shareholders informed & as a minimum to confirm:.
(1) what is and what is not covered by the EA and associated NDA then at least we understand rather than having to play interminable guessing games?
(2) what the ARCM presentation of one or more Tier 1 deposits is based upon as I was not aware of any RNS for a JORC compliant resources being made?
(3) what has been drilled, results if NDA allows and what drilling remains
(4) Any update on progress towards an AAL transaction or indeed an EA extension as appropriate

Is that really too difficult or too much to ask?
APR

@AG Tricky question to answer and in reality will be driven almost entirely by how many Rincon shares GUN have been allocated as part of the offer, whether the oversubscription favours seed funders such as GUN or equally scaled back and then what if any shares GUN might purchase at IPO open on the market.
Assuming we just retain our current 8.55% valued at circa £500k then a rise to £15m as I have indicated to match WSBN implies A$0.60c valuing GUNs shares at £1.5m and so on. Clearly the more shares we get then the maths will change.
APR

Fingers crossed

Rincon will IPO at A$0,20c for MCap £5.74m and GUN will hold at least 8.55%.
I am expecting Rincon to get to $0.6c or MCap=£15m in short order off the back of the NCM/GGP/Haveiron proximity alone. Once initial modelling of historic drill data at Hasties project starts to come through (supported by the soil sampling results they have already made a start on) then a rapid rise to £30m+ would not be a surprise.
AIMHO APR

@phoebus Exactly that, unfortunately I'm stuck with HL so my only route to Rincon is via GUN as I also strongly suspect it will rise strongly on its ASX IPO on 10-Dec-20 driven by its excellent drill results to date with high grades, long intersects and shallow depth implying a fast route to a much less capital intensive open pit operation is a distinct possibility.
I'm hoping GUN went in 'heavy' with their newly minted funds and PR gets near his 15% target holding.

The more I look at the gold chart the more it looks like a giant spring/bull flag ready for its next move up with the only blip being the Mar-2020 Covid market jitters when it looks like traders drew down cash from their gold ETFs to meet margin calls.
Price is currently sat at or around the Fib 23.6% retracement at ~$1860 measured from the Aug-2018 start of this bull run @$1160 and (so far) is showing good support.

GUN ... what do we know? (Exec summary of my 'Investment Summary' @13-Nov-20)
> InvestCo with multiple interests taking strategic positions pre-IPO for CLNs/equity and/or equity via fundraisings
>GUN MCAP=£2.8m @SP=1.15p. NAV = £2,688.7k & Cash=£1,066k & £900k forecast due on announced closing transactions
> Rincon strategic shareholding at IPO of 8.55% cost=£192.8k & value at IPO=£491k (x2.55 ROI implied @IPO)
> Peter Ruse stated aim of retaining 15% Rincon post-IPO from cash ... await IPO share allocation announcement

Rincon .... what do we know?:
Private company due to IPO on ASX in mid Dec-20 with 3x Gold/Copper projects Hasties/Westin, Laverton & Kiwirrkurra
> IPO at SP=A$0.20c for MCap A$10.4m or £5.74m
> Flagship 'Hasties' Gold/Copper project in Pilbara, WA located 10km from NCM Telfer Gold/Copper processing facility. NCM completed 22km drilling over 200 holes in 1990s resulting in long, shallow, high-grade Gold/Copper intercepts
> Total Pilbara licences around Telfer cover 540km2 with over 24km drilled over 240 holes by NCM
> IPO already heavily over-subscribed (NCM/Antipa JV plus NCM/GGP JV on Haveiron effect?)
> A$6m capital raised plus A$800k cash or £3.74m to fully fund a stated, detailed 2-year exploration across projects with stated aim of Hasties MRE within 2 years

Wishbone ... what do we know?
Aim:WSBN listed with 4x Copper/Gold projects across Australia & new Pilbara licence near NCM Telfer
> Flagship 67km2 l licence in Pilbara, Wa only 14km from NCM Telfer (optioned 5-Oct-20 & completed 4-Nov-20)
> MCAP=£15m @SP=12.5p was MCAP=£4m @SP=3.4p pre-5-Oct-20 announcement, so MCAP increase=£11m
> Known 4x magnetic targets identified under 150m to 250m cover within 2.4km by 400m magnetic anomaly
> Terra Search recommended "Re-modelling of the magnetic anomaly, preferably with the collection of new close spaced detailed ground or airborne magnetic data and gravity" and drilling minimum 150m depth x 100m spacing on 200m grid to test 4x identified targets
> Historic 2x drill holes failed to penetrate 100m+ Permian cover
> £366k capital raised on 12-Nov-20 & cash position unknown

Commentary:
Rincon appears much better value at MCAP £5.74m at IPO vs. WSBN £15m MCAP with Rincon 22km drill with long, high grade, shallow Copper/gold intercept drill data now fully funded at £3.74m for 2 years over 3 projects to MRE at Hasties vs. WSBN £366k cash and no drill data with targets at minimum 150m depth.

Everything else being equal IF WSBN £11m MCAP uplift is what the market is willing to pay for these assets then Rincon would need to double in value just to match its proximity to Telfer and then higher multiples to reflect its fully funded programme & impressive historical drill data.

I strongly suspect Rincon SP post-IPO will not stay at A$0.20c for very long and sincerely hope GUN has used a considerable proportion of its recent well-received £1.1m Placing to acquire more Rincon at IPO.
AIMHO APR