Member Info for aprogerson

@Fulmar The Kalaba plant FCF is well north of $45m when the Cobalt content is included which was why the Scoping Study had to be extended as it was due back several months ago. Cobalt credits make a HUGE difference. I'll dust off my prior fag-packet analysis and repost so we can dissect.

@Ella Discussion over NvS appetite to process Copper is an absolute irrelevance as the FCF numbers per year are comparable to ARCM current £41m MCap and as director NvS has a fiduciary duty and wants to maximise shareholder value as he has stated on many occasions which curiously is also his duty in law to do so.

Begbies Traynor define Fiduciary Duties of Directors as:
> Your fiduciary duties as a director reflect a relationship of trust and loyalty between yourself, the company, its members, and stakeholders. The expectation is that you will act in good faith, and in the best interests of the company.
> These duties overlap and inter-connect with your common law duties - operating with skill and care as a director - and also the statutory duties as laid down in the Companies Act, 2006.
> A new concept named ‘Enlightened Shareholder Value’ was introduced to clarify the wide-ranging duties of a director. This helps to ensure that employees and other stakeholders receive consideration during a director’s decision-making process, as well as the company and its members.
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@Shorn Agreed everything still very much 'game on' with AAL, but without the advantage of an EA forcing them to hurry up and produce a better offer or walk away ... meanwhile other potential bidders can court us.

IMHO there is no real downside for ARCM to let EA expire plus we have significant cash in the bank, deep targeted drilling programme to commence shortly and Kalaba Scoping Study upgrade with Cobalt added into flowsheet to considerably boost forecast FCF now overdue.
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Who knows what the details were but some sort of offer MUST have been tabled at some point during teh last 12 months and ARCM clearly did not think it sufficient to agree or offer any more time to AAL which indicates to me it was not a small gap between the 2 parties.

We are now in the Speed Dating phase of negotiations with AAL as firm favourite but by no means the only candidate. Just remember Tier 1 Copper assets do not come around very often so there will be a lot of interest. Just think what Ella and SeisNav could do if they had access to the Data Room !
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@Ella Chillax, myself and others appreciate you well researched input. There is always room on this BB for that

Lots are having a bad day (myself included as my average is 4.3p) compounded by those that aren't dealing with this very well and lashing out.
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@Uscita It people like you that give BBs a bad name
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Yes MMs having a field day today and gap up from 4.1p to 4.3p on 13/14-Jan-2021 has now been closed.
Looks like a good entry point for my ISA funds looking for a good home
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@NorEsco The only poster not showing respect today is you. Myself and other LTHs have been here for years not months or weeks and we do what we can to share our knowledge and insight. No one can be 100% right or claim 100% knowledge as that would imply insider knowledge which is illegal as is sharing it on a public forum. To imply that other investors are somehow complicit or not worth your respect for sharing their own personal views is disingenuous and just plain wrong.

As always DYOR and make your own decisions rather than blaming others if you are unhappy
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@MJ I'm expecting the next round of drill and/or assay results over the next 2-3 weeks tops
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@Uscita the only thing Peggy ever got right was her name and that was provided automatically by LSE BB
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@Ella ... and the beauty of it is he now can do exactly that !
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@F29 and others. 150% agreed that NOT extending the EA with AAL is absolutely the right decision by ARCM as it:
> enables ARCM to talk openly & ?to engage with other potential purchasers
> puts AAL on notice that they need to table a sensible offer ?in double-quick time
> provides closure on EA & associated NDL that was 1-year long
> allows BoD to stand back and consider other approaches to growing, generating & releasing shareholder value

Good News
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@GoingToMoon UFO I agree that GWMO have a terrific land package BUT to really add value it needs to be proved up to convert what mineralisation we strongly suspect is there (historic mines are a give away!) from inferred > Indicated > measured categories as confidence in metal type, grade, extent and continuity increase.

We need to remind ourselves that GWMO are still in the Resource Exploration phase albeit significant preparatory work has now been completed. The VERY good news is that targets are now being actively drilled and assays are being assessed for metal content, so once we have these back work can begin on assessing Mineral Resources and producing a JORC model assuming sufficient information is available ... more likely we will need follow-on infill/step-out drilling to inform this process once we have categorically confirmed mineralisation is present.

The better news on the established M2/M4 copper prospect is we already have a Copper JORC resource at M2 site and GWMO are trying to demonstrate continuity between the 'known' ore body and adjacent mineralisation so as to 'grow' the size of the ore body to enable it to be categorised as 'economic' which will be a game-changer for GWMO.

Looking forward to return of assays on Olympic Trafalgar target ... knowing that the drilling programme is running ahead of schedule and targeted mineralisation has been hit is an encouraging start !
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Rincon now up 26% since announcement
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Rincon RNS just out https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02391735-6A1039465?access_token=83ff96335c2d45a094df02a206a39ff4
> Hasties 5,000m drill programme commences mid-July
> GAIP survey results including new 300m deep structures
> Westin UFF Soil sampling starts late July

Very detailed & encouraging update including new deep Hasties targets for follow-on drilling. SP up 10% on early trading so far
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@F29 I hope you're right as that would be my 'Goldilocks' scenario
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@longfell Personally I cannot understand why the drilling has taken so long to get started as it only reduces uncertainty and (assuming results are positive) improves ARCM negotiating position UNLESS the outline deal on the table already takes account of this and/or is acceptable to both parties regardless of additional results.
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Yes @BT and 2Goals One can only guess at what it is going to take for the market to put a higher valuation on HUM ... until then I am happy to add at these 'very reasonable' prices.
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@peggy A good buying opportunity if you ask me but each to their own.
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Hopefully the EGM gets done what is needed and we can move on to what is important .... Big One grades, intersection lengths and JORC plus Arya drilling start.
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@NorEsCo LOL, sorry the MCap is indeed (Total Shares x Share Price) = Market Capitalisation.
It is by definition what it is and if struggling I find a calculator helps
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