Member Info for aprogerson

GGP some fantastic results but 1.3/1.5km down is not without its challenges!
GWMO is at surface tailings and shallow resources being targeted for first drill targets

After hours both FTSE and Germany are now Blue so we may see a bounce in the morning. GWMO has taken the least %loss of my mining PF and watchlist

Updated Summary: Exercise of Warrants via RNSs from 13-Nov-19 including todays Exercise of Warrants equates to approx. 66% through warrant overhang by volume of warrant shares issued since 13-Nov-2019.

I calculate exercised warrants have now added £737k cash since 18-Sept-20 & equates to 412.25m new shares issued with 214.25m warrants remaining to be exercised equating to a possible £340k additional cash. Details are:

Share Placings: £1,372.5k = cash to bank since 13-Nov-19
Warrants Exercised: £547+190k = £737k cash to bank since 18-Sept-20 (6x RNS refer)
Warrants "In the money" = £340k @0.16/0.2p remain outstanding
Warrants "Out of the money" = £33.7k @1.75p outstanding, but unlikely to be exercised

IMHO we are now sat @0.215p and despite wider market turmoil GWMO has only dropped 0.05p since yesterdays close. Licences haven't gone anywhere and BoD is reporting exploration and prep for gold production as per Routemap in RNSs. All good and leaves BoD in very strong cash position regardless.
EAOA APR

General market Sell-off so MMs indiscriminately marking everything down:
> FTSE down 2.8%
> Wall St down 2.5%
> Germany down 4%
> FTSE 350 Mining down 3.5%
> EU VIX up 8.3%

General market Sell-off so MMs indiscriminately marking everything down:
> FTSE down 2.8%
> Wall St down 2.5%
> Germany down 4%
> FTSE 350 Mining down 3.5%
> EU VIX up 8.3%

General market Sell-off so MMs indiscriminately marking everything down:
> FTSE down 2.8%
> Wall St down 2.5%
> Germany down 4%
> FTSE 350 Mining down 3.5%
> EU VIX up 8.3%

Apologies I'm a relative newbie to CCZ so may have missed it

I'm also expecting a gold/silver pullback if stocks really tank as traders search for ready cash to meet margin calls, but I suspect that this will be short-lived whilst portfolios get rejigged after the US election.

I don't think it really matters who gets in we can be 100% sure that a VERY large $Trillion stimulus package is on its way the only difference will be who the direct beneficiaries will be.

Fiat currencies are also 99.9% broken and a reckoning of one sort or another will be along not least of which will be more dollar weakness and variants on QE, ZIRP et al. All of which is good for precious metals and commodities priced in dollars, but rubbish for banks and anyone trying to live on fixed income products ... the shift to gold will continue as reduced or nil counter-party risk.
AIMHO APR

@causal Sorry gone where?

Yes all my portfolio AND watch list is red today so nothing personal to ARCM

My whole PF is red today by 3-10% except GWMO which is unchanged even though FTSE has taken a hit

Wow that is II money going HUM is now way too cheap then

@small_holding It is VERY frustrating to have to just sit and wait ON TRUST that all is going well and we are on-track. If NvS said he is going to update us regularly then he ought to DO so and not just promise something shortly or imminently whilst saying nothing substantive.

If NvS cannot tell us things because it falls within the remit of the Exclusivity Agreement then spell that out to us so we can manage our own expectations as we are all adults here.
Fed up but still holding ...
IMHO APR

In the nicest possible way guys this is not helping anyone on this BB.
Everyone says they are invested so no one should be happy to see the SP trounced ... now we at least know why due to the warrants being washed through that we know will end soon given the current demand for shares and the brakes will come off.

I've read the historic RNSs and the BoD clearly called it wrong back in 2018 with the drilling at Sharkstooth and had to stop albeit the drill didn't break the winter temperatures below -10DegC stopped them & they didn't go back.

On the plus side give them some credit for stopping throwing large amounts of money on high-risk returns, refinancing, changing the BoD and setting a sensible, achievable strategy that they actually seem to be delivering on ... albeit not as fast as we would all like.

@Trek Yep, that's certainly what has got my attention and why I'm not going anywhere.
(1) open pit at Big One with Farm-In so someone else pays the CAPEX/OPEX bills to DFS
(2) full or partial sale and/or capital lump sum payments staged through Farm-In
(3) Use proceeds to fund drilling everywhere else and minimise dilution to existing shareholders

If they can pull that off then mid-tier Copper/Gold producer here we come & I'm all in ... given the VERY high Cu grades that seems highly probable IF they can continuity from drilling campaign.
AIMHO APR

No problem @The Shrimp. If you check my musings on Rincon IPO scenario and given what we know from various sources plus BoD statement (Podcast) that they want to retain 15% in Rincon at IPO it's all above generating enough cash to cover forthcoming IPOs which PR and Co are clearly doing. Salawin transaction generating a further £240k cash is key near-term.
Overall GUN are sat on an astounding amount of cash for their MCap and have made some very astute purchases pre-IPO so they also benefit from early investor rates or ability to deploy Convertible Loan Notes (CLNs) which provide a degree of protection.
AIMHO APR

As promised I have been through all the RNSs from 13-Nov-19 including todays Exercise of Warrants. I calculate we are approx. 55% through warrant overhang with 283.75m to go for a further £530k cash to the BoD if exercised.

In Summary:
Share Placings: £1,372.5k = cash to bank since 13-Nov-19
Warrants Exercised: £547k cash to bank since 18-Sept-20 (5x RNS refer)
Warrants "In the money" = £530k @0.16/0.2p remain outstanding
Warrants "Out of the money" = £33.7k @1.75p outstanding but unlikely to be exercised

Commentary: IMHO £547k additional cash since 18-Sept-20 is very welcome cash boost equating to 343.25m new shares issued and 283.75m more if warrants exercised for £530k cash to BoD.

IMHO we are now sat @0.22p and if MMs want their 10% for processing warrant shares then SP is unlikely to drop from here giving PIs chance to load up as warrants are churned through. Licences haven't gone anywhere and BoD is reporting exploration and prep for gold production as per Routemap in RNSs. All good and leaves BoD in very strong cash position regardless.
EAOA APR

Really good presentation and IMHO the BoD seem to be trying REALLY hard to show just how good value HUM is compared to their peers in both junior and mid-tier space. PLUS they are pulled out timeline by asset and output showing what comes from where in what year ... fantastic stuff !
APR

If as we suspect the MMs are trying to clear warrants @0.2p strike price then unlikely to happen much below 0.22p as the MMs will want to make their 10%. I'll update my Warrant Analysis alter to see what is left to go and GWMO cash position after todays warrants exercised given BoD will have another £50k in the bank.