Member Info for aprogerson

Looks like this is finally coming together after multiple 'left-field' delays having been successfully resolved over last 2 years. Hopefully JV will now be agreed in the next few weeks and we can look forward to significant drilling action in Zambia as JV partner plays catchup
ATB APR

I generally take a buy and hold approach until any price rise has risen and looks overdone when I'll take some off the table and reinvest in my shortlist stocks. Anyone who tells you that you can time the market is either (1) darned lucky or (2) less than 100% truthful so taking some profit is a good thing but no guarantee you can hit the maximum return given no one has 20:20 foresight!

Looking at GCAT performance objectively ...
Aug-21 launch: MCap £13m and POG=$1,825
Oct-22 today: MCap =£12m and POG=$1,648
So POG down 10% and GCAT down 8% so considering Junior miners are highly geared BOTH ways to underlying metal then GCAT performance is relatively good which probably reflects huge progress made on MRE, mine and processing plant development.
ATB APR

Fingers crossed as I'd LOVE Rincon to do a GGP and deliver 10-20x
ATB APR

Nice RNS from Rincon Resources with results of electromagnetic surveys identifying a 8km electro-magnetic anomaly at new Wikiki tenement just 20km South West of Greatland Golds Havieron discovery https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02586563-6A1117184?access_token=83ff96335c2d45a094df02a206a39ff4

@lowpay Who knows ... DXY reversed (heading lower?) with gold and silver up then GWMO down after good news
Go figure!
ATB APR

wow, HUM are capitalising their own contract miner and I thought the whole point of a contract miner was that they provided a service in return for a revenue stream. In HUMs case they fail to deliver the contract over a 12-monbth period (?!), get 'rewarded' with capital investment and HUM link them up with another outfit to help sort them out plus HUM takes out a loan so that they can do this and backfill their balance sheet to offset the lost revenue.

Maybe I misunderstood something and I should be investing more rather than considering cutting my losses due to lack of confidence?
ATB APR

HI KEn,
Yes Rincon have had a $1.2m capital @$0.08 which was a 15% discount and SP went up so was well received particularly as they also picked up some adjacent prospective property plus announcing Westies drill programme commencement. All in all they are now 9-12m behind where I thought they would be BUT have made good progress across all properties plus confirmation of funding taking them 12m+ funding horizon.

Fingers cross especially after finding an absolutely enormous target at Westies with really good 8g/t historic drill results albeit in one hole only.
ATB APR

@Legalwolf It seems targets have shifted back in Sept-22 but language was vague but latest Oct-22 presentation page 3 is very clear that 24koz production target "may" have changed as language is still vague but certainly not by end Dec-22
> Construction underway at our flagship asset, Kilimapesa Gold Mine. Increasing mining capacity
and processing capacity to increase production to 24koz per annum by Q1 2023
> Projected AISC of $1000-1,100/oz by end of Q1 2023
... so we have a wait a bit longer but AISC $1,000/$1,100 per oz is really worth waiting for!

I've given up trying to put numbers to their narrative as this has been inconsistent and details provided have reduced dramatically ... I'll just have to sit on my hands and wait I guess
ATB APR

Pacific Nickel Mining deferred shares now issued so GUN now holds 1.1% or 3,084,741 shares worth A$0.089 each sum value £153k ... looks like PCN are good to go now!
ATB APR

Always good to see
ATB APR

@swampy Not sure if that was the Capitulation bottom in PMs but whole mining, explorer & developer equities are pretty much loathed after such a heavy and prolonged selloff over the last 18 months.

I keep thinking PMs must turn now after X or Y happening but here we are at historic lows whatever metric you use to measure it against!
ATB APR

Gold and silver charts look super bullish. Physical gold and silver is very hard to source in EU, UK and US with very high premiums despite hitting record lows with Comex and LBMA silver stockpiles draining rapidly as price is artificially low given most of market 'supply' is actually paper masquerading as metal. A large % of the worlds primary metal refineries are in Europe and run on gas which does not bode well for future supply (especially silver) with winter coming fast to Europe.

My order for silver Britannias is now on "Indefinite" lead time with sky high UK premiums and gold bullion products are no different ... US bullion suppliers are also reporting similar supply/premium issues.

The UK mini-budget, pension LDIs and subsequent 45% tax rate U-turn plus doubts about Credit-Swiss are not helping market confidence

I think the penny is now dropping about "getting physical" and no counter-party risks .... metals squeeze anyone?
ATB APR

I've had CMRS on my watchlist since it launched and an MCap of £1,37m and over £1m cash seems compelling albeit with a heap of caveats and risks that need to be worked through.

Contrary to some comments posted I read todays RNS as an attempt to table ALL the bad news and put distance between the old and new BoDs giving the new BoD the ability to move forward and to quickly do what is necessary. The issue with the lack of visibility on the non-renewed licence seems an appalling governance failure as does some of the other points raised in todays RNS.
One for the brave, but turn-arounds can be very lucrative if done well
ATB APR

Rock on Brian ... JV signed for 3 phase mill development subject to licencing approval on site of old mill on 20 acre site. JV partner to provide site and facilities with GWMO providing funds to refurbish/upgrade. Site is halfway between MJ and OMCO mine sites next to major highway.

3-stage development doubtless funded by output from earlier stages with each stage increasing %recoveries from gravity to vat-leach as project progresses with onsite storage and tailings storage factored in.

Impressed and looking forward to licence approval/s
ATB APR

Thx Optimist full ASX 27-Sept-22 RNS is https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02573428-6A1111659?access_token=83ff96335c2d45a094df02a206a39ff4 with some nice visualisations that help understand what is going on.

Westin aircore drilling is up next so this could be significant
ATB APR

Another way of looking at this is that the current £13m MCap is identical to RTO in Aug-2021 irrespective of the SP which has dropped as the shares in issue went from 1400m to 1850m over the same period.

What is instructive however is how much VALUE has been created over the last 13 months ... the main difference is that in Aug-21 POG was $1,830 and it is now $1,620 or a drop of $200 which has absolutely crushed Junior producers especially those with high AISCs, but not so much GCAT as their production is low AISC and output has increased significantly over the same period offsetting the loss of profit/ounce as POG has dropped.
ATB APR

LOL so small explorer finds high grade intercept and SP drops 10% !

8g/t is more typically found today in economic UNDERGROUND mines whereas GWMO has found it where it was expecting it between 35-40m below surface where modern miners can make it economic at 1-2g/t. All GWMO now has to do is prove continuity and (hopefully) find the higher grade stuff it was expecting.

@ Moon The Processing JV is now subject to licencing before it can proceed and GWMO has already budgeted for the $100k seed funding so no debt.
ATB APR

Nice RNS confirming extension of known mapped & mineralised high-grade vein system at historic OMCO mine with 8.3g/t over 1.5m @38m depth. BH mentioned that they want to track back towards main vein system to presumably higher grades historic grades of 25-30g/t plus lots of silver.

From what I understand of everything I've read about OMCO mine these are discrete vein systems much like a root system fanning out as per historic maps with higher grades nearer the source of mineralising fluids. IMHO this implies that high grade intercept was further away from source so lower grade rather than at outer part of vein as part of mineralised halo which would have presented as a different type of mineralisation.
ATB APR

Morning Swampy ... I'm picking up as much silver as I can at 90:1 silver/gold ratio so silver is historically cheap compared to gold and looking very perky!

I plan to swap it back to gold when ratio compresses to 30:1 or even 15:1 if SHTF so I can triple or quadruple my gold
Food for thought
ATB APR

GUN just picked up AUD$175,000 (£100,000) in Charger Metals as part of AUD$5.5m capital raise @AUD 50c/share with GUN picking up 350k shares. GUN now holds 3,175,000 ordinary shares in Charger representing approximately 5.12% of Charger's issued share capital.

Charger proposes to use funds (after costs) predominantly on exploration activities including drilling to advance the Company's Bynoe and Lake Johnston Lithium Projects.
ATB APR