Member Info for aprogerson

@AG if Antipa and Artemis had dual listings on AIM I think there would be a lot of interest. David Lenigas (love or hate him) he was Chairman of Artemis (ARV) and knows the area and history well. He publicly stated he owns shares in GGP and ARV amongst others and is an Aussie mining cheerleader.
> DL facebook post & his views on GUN & Rincon strategic shareholding @13-Sept-20 https://t.co/JqKcxNoSQ1?amp=1
> DL Proactive Investors @21-Sept20 GGP, Artemis and GUN (from 08:00/11:00) https://t.co/14NX6hdyrj?amp=1

As always DYOR, but if you are invested in GUN IMHO you really need to read/listen to this stuff all now in public domain if you make the effort to track it down ... it is enlightening what GUN is actually sat on at ASX pre-IPO stage with 28% RINCON holding!
GLA APR

@Ben That is my belief also which is why I've listed everything as buys because of the false spread and sell price all day ... so 100% concur. Unless of course someone just wanted to buy lots of stuff and sell it back all day for a loss?
APR

I'm with you there @SmallHolding or if that is not possible then 'highest grades ever in Zambia' will just have to do
APR

@AG If you are interested in GGP story look at early investors and what happened when Newcrest walked funnily enough to work with OMI in South America (how they must be kicking themselves now!). SP tanked and lots of PIs sold out circa 1p or below before NCM came onboard to extend life of Telfer processing previously mothballed back in 2009 when they ditched all their Pilbara licences. The very same Copper/Gold licences now picked up by Greatland, Artemis, Rincon and a host of others on the back of drilling data from historic NCM campaigns.
APR

@AG I was very fortunate and got into Greatland early at 2.01p and top-sliced at 23p so naturally very happy as I still retain a GGP free ride and ability to chase some new rainbows including here at GUN as my focus remains leveraged early stage Copper / Gold /Silver opportunities.
ATB on your journey. Always do your research and manage your risk!
APR

My expectation is that Rincon will leverage their proximity to NCM Telfer and 22km of prior drilling with stunning historical Copper/gold intercepts for maximum advantage at IPO to raise a healthy amount of cash at an attractive SP. This will allow them to fully fund any infill drilling they need to prove up the asset enough to get a NCM JV lined up on attractive terms and with Gold & copper at cyclical highs their timing is near perfect.
The only downside is Aussie Covid rules restricting drilling operations combined with every man and their dog hiring rigs to drill for gold now we are back at US$1,900/oz Gold and looking to break to the upside. As problems go its manageable!

Rincon not on upcoming ASX IPO list yet ... https://smallcaps.com.au/upcoming-ipos/#current
Apr

@AG It's time consuming but well worth the effort for me to understand & confirm why I decided to invest and just as importantly why I wish to stay invested and over what timeframe.

For me this is a medium risk (low MCap and high cash / NAV cover) but potentially very high reward conviction investment over 3-6 month window for 2x IPOs to conclude and then I'll reappraise.
Everyone to their own & feedback always appreciated
APR

@graham Serious understatement between backend of Thursday and all of Friday when price hit 3.95p I counted:
15x 250k (exactly) = £10k
12x 100k (exactly) =£4k
4x 250k+ = £10k+
4x 100k+ = £4k+
1x 600k = £24k
1x 506k = £20k+
4x 200k = £8k
6x 150k = £6k
1x 300 = £12k
2x 500k = £20k
Normal daily trades are nowhere near this volume or trade size as Market Size =100k. Consistent large repeated trades all placed between 3.95p and 4p over 2 days at uptrend channel low are no accident especially as did not move the price.
I'm expecting price to pickup next week for traders to make their 20% over the next 2/3 weeks to channel top 4.6/4.7p.
AIMHO APR

SP has been testing uptrend channel lows again at 3.95p (established @3.6p early Aug-20) and assuming this holds I'd expect it to test channel highs projected at 4.7/4.8p over the next 2/3 weeks.
If you are looking to add now is a good a time as any and of course if substantive 'Transaction' news lands then all bets are off for the SP!
AIMHO APR

GUN seems to be so far under the radar its almost surreal.
Angold and/or Rincon IPO will change that see details below if vaguely interested.
APR

Simon Paull gave some good honest answers:
00:30 Mt Oxide data archive details = good
01:45 Drill starts = next week onsite
02:50 Queensland workflow Drill > Model > possible infill drill > update model
03:40 Top 3 projects outside Queensland = 2x Zambia and Broken Hill
05:10 Dilution vs. Shareholder value = Dilution needed going forward but not at expense of shareholder value
06:30 Drill results? = 8-10 week drill programme subject to rainy season Xmas to end Mar-21, Initial results 2-3 weeks with detailed assays and deeper holes to follow
08:30 Diversification = one CCZ, but not a 1-trick pony

If Arya 2x supergene Copper deposits can be firmed up and confirmed grades are as good as expected then you have a company maker right there with high grades, long intercepts and low cover an open pit is a very real possibility.

CCZ MCap is currently £39m so a very healthy uplift would be no surprise.

Arya at depth is properly big BUT a complete unknown so big grades, intercept lengths and composition is key. My view it could be a stunning bonus or not ... but the drills will tell us what we need to know.
APR

Cash = Inferred £575k (PR stated £650k cash on 5-Oct-20 Podcast -£75k EM2 @14-Oct-20) available to deploy vs. MCap = £2.73m of which 21% is cash and assets valued at £2.16m @16-Oct-20

Assets
• Rogue Baron = £500k loan note @02-Jul-20 RNS
• Rincon = 28% pre-IPO cost £138k @22/23-Jun-20 RNS
• Angold = 1.13% pre-IPO cost £165k @30-Sept-20 RNS
• Eagle Mountain Mining = 1.8% value £578k @16-Oct-20
• Dubai oil licenses = £0k Historic RNSs
Total £2,381k value vs. £2.16m from MCap minus cash at hand or at 91% implied NAV

Expected & overdue NewsFlow:
(1) Rincon IPO & news on South Telfer targets & drill programme progress for IPO then 28.3% @pre-IPO is good news plus BoD stated will look to invest further at IPO to maintain target 15% holding
(2) Angold IPO and valuation after further GUN investment

Commentary
Rincon IPO & Hasties project is likely to be a company maker given success of GGP 40km from Telfer with giant Havieron Copper/Gold find especially as historically Newcrest drilled over 200 holes for 22,000m . Extensive high-grade gold and copper exploration reported see Artemis RNS (did not finalise Rincon acquisition & GUN stepped in) https://www.artemisresources.com.au/index.php/investors-relations/announcements. :
Gold intercepts:
o 57.80m @ 2.05g/t Au from 17.40m including;
o 16.10m @ 4.75g/t Au from 42.70m;
o 68.00m @ 1.33g/t Au from 1.00m;
o 36.00m @ 1.66g/t Au from 2.00m;
o 33.20m @ 1.46g/t Au from 25.00m;
o 23.00m @ 2.06g/t Au from 23.00m; and
o 5.00m @ 3.73g/t Au from 50.00m.
Copper intercepts: o 20.60m @ 1.23% Cu from 87.60m;
o 10.90m @ 3.39% Cu from 91.80m; and
o 4.00m @ 4.84% Cu from 49.00m.

The bit I love about Hasties project is that it is NOT under 400m cover like Havieron, but looks highly suitable for open pit operation with frankly excellent Copper/Gold grades and long intercepts. I have no idea why NCM is not all over it to improve Telfer profitability in the short term especially as it is 12 km from Telfer!

If Rincon can prove it up a bit more, agree a NCM JV and Telfer tolling then AISC will be very low and Capex will be tiny for camp, road and low cover removal with short mine build timeline.
DYOR & commentary AIMHO
APR

GUN is an investment company looking to acquire strategic stakes, grow them, sell some/all ... wash & repeat

Angold (TSXV pre-IPO) Status: Await IPO to TSXV, timeline undisclosed
• RNS 30-Sept-20 Gun acquired via RTO of ZTR previously on GUNs books (462,500 shares) at NAV=£0 plus £58k (250k shares) extra at Capital raise for total of 712,500 shares in Angold
• Derado, Chile and Iron Butte, Nevada projects combined =1Moz Gold (PR implied US$75/oz value = US$75m)
• Derado = 15km drilling with Gold intercepts of 261m @0.9g/t and 192m @0.72g/t. Infill drilling required
• Iron Butte = lots of drilling Copper / gold resource ... no details
Likely to IPO @MCap C$25m and C$0.40c so 712,500 shares Cost £58k vs. value £165k for 1.13% at IPO

Rincon (ASX pre-IPO) Status: Await IPO to ASX, timeline undisclosed & project update/s overdue
• RNS 22/23-Jun-20 Cost £137,500 for 28.5% holding pre-IPO
• Historic maps and details of 22km (200 holes by NCM) High grade Copper/Gold when Rincon was optioned to Artemis https://www.artemisresources.com.au/index.php/investors-relations/announcements. Ownership of Rincon’s previously declared Westin tenements SE of Telfer unclear
• RNS 26-Aug-20 Rincon Resources Operational and Corporate Update
(1) South Telfer, Pilbara, WA flagship Hasties Copper/Gold project @50k hectares - 12km south NCM Telfer plant.
• Survey data target generation expected during Sept-20. Leapfrog models refined & work programs and budgets WIP
• "Rincon is aiming to commence a trial of Ultrafine soil sampling over selected targets in the next 6 to 8 weeks."
• "Rincon is working to be drill ready". Works programme, Industry Regulation and Safety now approved. Native Title and Heritage clearances yet to be completed
(2) Laverton project – Hi-Res magnetics done. Plan to roll out the geochemical program to define drill targets for Q4 2020 drill programme start.
(3) Kiwirrkurra Project - Target generation is planned to commence with initial historical geophysical data review.

Eagle Mountain Mining (ASX:EM2) Oracle Ridge, Arizona is a high grade, advanced stage underground Copper/Gold/Silver project with NI43-101 11.7mt resource grading 1.57%Cu, 17.47g/t Ag and 0.18g/t Au.
• RNS 22-Jul-20 = £110k cost initial investment 1,538,462 ordinary shares at A$0.13c
• RNS 21-Sept-20 = £75k further investment 608,043 ordinary shares at A$0.22c
• RNS 14-Oct-20 = £70k further investment 416,667 ordinary shares at A$0.30c
Sum shares now 2,563,172 for £255k cost and valued at £578k @SP A$0.41c

Dubai Oil licences – via Oyster Oil & Gas & ownership presumed @nil value

Rogue Baron spirits - Gunsynd's £500k convertible loan (12% interest pa) & repayable on 31-Mar-21 & can be converted at any time at the election of GUN into ordinary shares of Rogue Baron. RNS 2-Jul-20 novation of loan note from Human Brands to Rogue Baron.

Hi chaps, I am not a holder of PAF but it is on my very short list if/when funds allow. I currently hold HUM which seems very similar to PAF in that it is a solid PM miner in unloved jurisdiction, short term debt to be repaid and high AISCs. IMHO both are therefore highly leveraged to an improving gold/silver price as the market is currently marking them down as high risk & low reward compared to other peer group miners. Admittedly HUM is exploring to build out its LOM and reserves whilst PAF just has huge resources it can access albeit subject to having the free cashflow to develop it and from a potential investors point of view upscaling PAFs tailings operation was a master stroke as low risk & Capex plus can be upscaled if needed!

If as a number of us suspect Gold/Silver ascent is only just beginning then both these miners situations change for the better very quickly and with relatively low MCaps that is good for us PIs.
APR

In case anyone feels left out https://hotcopper.com.au/asx/ccz/corporate-spotlight/#cs-tab-6119

Being a techy nerd analyst type I just love the Market Ear https://themarketear.com/images/e930145a5052ac80cda9d5cedce73374

... should we buy gold as it has no yield? It is all about the real yield or is it? .... I think this chart answers that question very clearly https://themarketear.com/posts/cN2HKJNtNJ/image/0

Personally I cannot stop reading this one from Kitco ... https://www.kitco.com/commentaries/2020-10-13/Gold-miners-it-s-time-to-buy.html

What really excites me about Arya in particular is the sheer scale of the shallow interpreted Copper supergene anomalies identified as EG02 and EG10 as this implies a commercial deposit suitable for open pit extraction cutting down time and cost to build a mine in the short term.

Arya is also unusual with a deep bedrock conductor that reminds me of GGP and the Copper/Gold Havieron find under 400m+ of cover that no one knew was there until modern technology 'saw' the possibilities. If this indeed turns out to be a IOCG find then size, composition and grades will be key to determining if it is economic.

A nice reference to IOCG deposit formation and reference to Olympic Dam with 350m barren cover is an interesting read: https://www.911metallurgist.com/blog/iocg-iron-oxide-copper-gold-ore-deposits