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@Seis Thanks and yes will be very interesting to see how future Cheyeza grade profile date develops once the drill programme gets underway.
Copied your post text body below
ATB APR
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I think a picture speaks a thousand words, so here's a graph I did ages ago comparing the grades and frequency of the Cheyeza drilling with one of the neighbouring Sentinel deposits. There are four main deposits which make up Sentinel, two low grade (averaging about 0.5% Cu) and two high grade (averaging close to 1%). This compares Cheyeza against one of the high grade deposits:
http://tinyurl.com/yswresfv
The Sentinel data is in dark blue and Cheyeza data in lighter blue/green. Obviously the Cheyeza data is a bit more scattered because it includes all drilling regardless of where it is whereas the Sentinel data is restricted to the actual orebody. Still I think you can clearly see the potential there.
@Seis I had hoped that this BB had turned a corner but until we get some exploration & drilling programme news flow I guess the now well known trolls will continue to sow dissent and doubt
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@Peggy Fancy a game of spot the troll ... oh sorry you make it too easy!
What a nasty human being
D.Monies Ditto
@Daniel GCAT was main listed as original GoldPlat was on Main exchange and GCAt was reversed into it when they acquired the assets from GoldPlat
ATB APR
@Chisler If I am correct with my TR1 analysis of SpreadEx and Cantor back-to-back holding of 257m shares in GWMO each at end of Jan-24 then looking at WHEN these were acquired between Capital raising events with each holding 280m shares around 0.08p @17-Jan-23 and 327m shares 0.055p @26-Jul-23.
WHEN GWMO get its JV permit to process licence approved then GWMO SP WILL rerate for a number of reasons:
1) licence to process will allow JV to start operation and generate revenue for both JV via toll process fees and GWMO via gold/silver dore sales after processing fees
2) as SP moves through 0.055p past 0.08p then the SpreadEx CFDs and Short trades will be closed and 500m shares held by SpreadEx/Cantor will be returned to the market ... after 0.08p they will be very likely gone along with any overhang
3) sentiment & confidence in GWMO will improve rapidly and due to very low MCap any upward SP movement is likely to be very strong as the AIM "herd" arrives
Happy to wait for news flow in order of impact:
!) Approval of JV licence to operate & plant commissioning
2) GWMO announces tailings being moved to JV for processing
3) Huntoon valley copper news especially anything that increases current size of JORC at M2
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@BidInvestor 100% agree as per my explanation just posted!
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@GTMufo If you read the TR1 RNS s you will see that throughout last year both Spreadex and Cantor have been buying AND selling shares in lock-step.
Summary Capital Raises & TR1 notifications for SpreadEx and Cantor:
> 17-Jan-23 Capital raise @0.08p of 1B shares for £800k cash
> 24-Jan-23 both held 280m shares (Cantor TR1 RNS was late @12-Oct-23) ... ie BOUGHT 280m shares each
> 26-Jul-23 Capital raise @0.055p of 909m shares for £500k cash
> 8-Aug-23 both held 327m shares following 26-Jul-23 fundraise ... ie BOUGHT 47m shares each
> 12-Jan-24 both held 280m shares on 10-Jan-24... ie 47m shares SOLD each
> 31-Jan/1-Feb-24 both held 258m shares at 30-Jan-24 ... ie 22m shares SOLD each
IMHO this means:
1) SpreadEx and Cantor are 1:1 matched in number of shares and timing of buy/sells
2) SpreadEx's business is CFD & Spread betting so any position taken by its clients have to be backed-off so SpreadEx carries no risk for their client's trades ie the risk is taken by SpreadEx clients not SpreadEx
IMHO both SpreadEx and Cantor are NOT investors as SpreadEx is a CFD/Spread-betting company and Cantor is simply matching its shares (ie providing liquidity/risk management for SpreadEx trades) held to offset SpreadEx's clients trading positions. This also clearly implies that these trades were SHORT trades and the "selling" since actually reflects SpreadEx clients REDUCING short positions as GWMO news-flow improves.
So this ought to be seen as good news not the bad news you keep saying it is!
ATB APR
DG thankyou ... some reasoned commentary on this BB at last!
I'm not sure I agree with the Bots comments as I seem to remember there was a legal listing requirement to diversify in the early days of deal making so that if ARCs Zambian licences were spun out (in whatever shape or form) the ARC itself would still be an operating entity. Listening into the last podcast I do believe that the Bots licences proximal to 2 mines/development areas was very opportune since proven by neighbours drilling campaigns up to the licence borders and our very positive .
IMHO this seems to me that Bots is at least an "optionality" play where we eventually sell or preferably form an earn-in style JV with a neighbour in much the same way we have done with AA.
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@GTMufo looks like you didn't check which of your accounts you were sending your last comment from
... sending "Yes ufo they found 100 kg Silver nugget." in perfect English from your GTMufo account looks very odd don't you think?
@GTMufo If you take the effort to read my posts I have NOT said that everything is okay so please quit putting words in my mouth!.
What I have done is IMHO answer part of your question about what monies maybe needed and some basic project management knowledge about how I might do it if it was me putting these things together myself ... nothing more as I was not involved!
ATB APR
@GTMufo Simply ...
> Mina is where the processing JV plant is and is in a valley so will be operational most of the year
> Prospects are in mountainous terrain and/or at altitude so "closed season" is typically end October to mid March as temperatures drop and/or weather is bad
Please stop confusing the 2 the support your negative narrative as GWMO have been very open about this throughout their RNSs so it should be no surprise to anyone! A large part of the reason for the 14km road project was to open up areas for both drill rigs and for extraction of historic tailings to overcome most of these limitations.
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@GTMufo If you had bothered to read the rest of my post you will have seen the likely answer to your question around costs and funding, so please do me a favour and don't lift part of my post out of context to somehow justify your narrative ....
@GTMufo I don't doubt that there will be costs in commissioning the plant, moving the tailings and ramping up production ... the REAL question you have not asked is "what has been allowed for in the JV budget, what has been spent to date, what contingency was allowed for and what budget remains versus work to be done".
My expectation is that the JV budget includes commissioning plus some contingency to fix early failures/issues and unexpected items as it is reasonable to expect some unplanned for costs. Anything after that would be extra as it would be cost of JV production or OPEX will include labour, generator fuel and so forth. The cost of digging out and moving the tailings will be GWMOs and not part the JV.
Any further expansion of the JV plant to stage 2 will require additional CAPEX funding from both JV partners which I would expect to be funded from JV profits or more likely standard business debt funding based on a business plan once the JV plant is up and running profitably.
Not everything will require equity funding via dilution which is why a profitable JV processing plant is vital to a small explorer transitioning to a small producer.
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@The Basher I was clarifying that the quote you referenced related to the copper project rather than anything else AND that this was old news rather than something new and/or a change that might warrant a SP drop
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@TheBasher The statement “We are actively seeking a joint venture partner to help finance this programme and currently working on several positive leads." was from yesterdays RNS talking about the Cooperation Agreement AND the pre-existing copper exploration programme at M2 and the Huntoon Valley in general.
My point is this is OLD news as the copper exploration programme and especially further development of the copper JORC has been predicated on getting a JV partner signed up due to the prohibitive costs for a Junior Explorer such as GWMO. This does not mean that they won't do a placing for the copper but given this stated strategy and BHs recent podcast talking about avoiding further dilution this seems an unlikely outcome unless something else materially changes.
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@Anon IMHO this will allow Dugbe to progress to the next stage over the next 18-24m whilst HUM focuses on getting Kourossa up to full nameplate throughput, maximise free cashflow and pay down the bulk of the mine build debt. This way Dugbe will be ready for its next stage which is mine build just when HUMs capacity to finance it via a new debt facility will come back online
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Morning Kewben Yes looks very good news indeed as it forms the basis for a future 50/50 JV over the shared licence areas.
Basis of Cooperation Agreement:
Crowne puts in 6 patented claims with drilling permit and GWMO puts in 9 new unpatented claims with no drilling permit granted ... seems reasonable as looks like Crowne has the distinct advantage of drilling permit rights.
RNS Highlights - Crowne Point & GWMO Co-op Agreement
· Early drilling on private land will attempt to prove up a copper porphyry
· Access to existing infrastructure
· Potential for both copper and precious metals
· Great Western to focus on copper potential, Crowne Point on precious metals
· Each party will plan its own exploration activity and bear its own exploration cost unless a decision is made to explore on a joint basis
Looking in more detail at the as there are some playoffs involved:
1) Crowne retain 70% share of any gold/silver in central 6 claims area
2) GWMO get beneficial access to drilling copper targets from permitted 6 claims area saving costs and time
3) Any value extracted from pre-existing mining waste present on Crowne's existing claims will belong to Crowne
Not sure why the SP has dropped as this looks to me like unparalleled good news with GWMO trading 50% of only recently staked claims and getting copper drill target access in return !! IF drilled and proven up at existing M2 target this will allow GWMO to relatively quickly scale up its existing copper JORC by increasingly confidence in copper target between 2 proven mineralised areas ... a potential gamechanger if the existing JORC can be scaled up to an "economic" sized copper resource
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@select/Seis "hysterical tag team of derampers" sums up todays various offerings
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@NorEsco You should be ashamed ... Seis is one of the few balanced posters on this BB who posts original well researched information which is much more than I can say for yourself!
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Thanks could you post a link?