Member Info for aprogerson

Someone is keen as 0.265p paid at open
Anyway on my weekly chart the key price is 0.245p as that breaks resistance from what was support from Jul-2020 and also breaks up above resistance from what was support from Jan-21 @0.3p high. A close above 0.245p is positive and provides good support from a technical chart perspective.
AIMHO APR

@Alyhels Exploration companies acquire prospective licences and raise funds so that they can (hopefully) add shareholder value by finding stuff at a reasonable cost that can be sold at a higher price later.

Exploration is a 'wash & repeat' process as below:
(1) Acquire prospective licence/s, keep in 'good order' & raise funds to explore = Tick
(2) geophysics & soil sampling to narrow down where best to drill = Tick
(3) Drill, baby drill = Olympic Trafalgar target 6x holes drilled & onto next (confirmed in todays RNS)
(4) Send of drill core/shards to lab to assay = Underway
(5) Report drill results to shareholders = Awaited over next 2-6 weeks dependent on lab
(6) model soil sample, geophysics & drill results for more drilling and/or build high confidence mineralisation model to confirm JORC compliant resource estimate
(7) wash & repeat steps 1 to 6 as required

Really not sure what your problem is, but this is what Explorers like GWMO do and guess what ... they ARE doing it ! Many on this BB have tried to explain details you have queried and also that it is high risk high reward stuff. Exploration investing is certainly not for the faint hearted ... but it is what it is.
AIMHO & ATB APR

Nicely put @Chisler ... no trumpet necessary
ATB APR

Ah thanks Bushy I did look but Assumed ticker would be the same
ATB APR

@Bushy You lost me what is 26p ?

With US opening up and record growth rate in spend and input material costs, but constrained labour participation my bet is that CPI will continue to rise is US and elsewhere. Lots of commentary even from Buffett on both rising labour costs and especially material costs at his recent shareholder briefing ... he even mentioned the 'I' word.

DXY (Dollar Index) Head and Shoulders pattern broke the neckline at $9060 last Friday 7-May and dropped to $9002 so far today with my target at $8,725 which will be a massive tailwind for POG if/when it comes off. I think we all know where this is headed, but journey won't be a straight line.
ATB APR

GWMO SP will move on exploration and drill results confirming mineralisation, grade and continuity. Firm metals price is good but only really important once we know what we have is economic and we are not there yet.
ATB APR

Oh contraire I think there is plenty of detail in the RNS and as per my post we know the CCZ 'run cost' is $400k/quarter and 2021 exploration programme has cost $572k to date. The RNS then 'assumes' that these costs continue and on that basis you get 2.4 quarters of cash from the declared $2.4m available.

The REAL question is have ALL the explorations costs been paid for and if not what is that cost? Without that info we cannot work out how much uncommitted cash is left. The fact is that CCZ is an Explorer with no revenues and needs to raise cash to fund its activities just like (almost) every other explorer out there so this should not be a surprise to anyone.

The CRUX of the issue around cash that is never discussed is what VALUE is being generated by the current exploration programme and how much of that will feed through to the SP in time for the next placing round to reduce the effective %dilution required to fund the next round of exploration.

IMHO I look at:
(1) opportunity cost to hold a share and/or risks,
(2) exploration strategy, delivery capability/track record & timeframes then
(3) what is it they are looking to achieve and the associated value that will bring to the SP

Anything else is self-delusion with Explorers as they are high risk but high or very reward by their nature.
Simples ATB APR

Wow, Sustainable sold down 1.4%. They retain 2.6% ... anyone know if they intend to sell or hold?
Explains why the SP is virtually static despite the positive POG backdrop !
ATB APR

@Edgar Also check out this paper for explanation of different ways to value explorer/producers and explanation of teh JORC methodology and inferred, indicated, measured and reserve statuses within that ... unsurprisingly it's all about probability and confidence levels that the metals are there. See pages 15-17 to get to the nub of this.
https://www.valuewalk.com/wp-content/uploads/2015/06/Valuation_of_Metals_and_Mining_Companies.pdf
ATB APR

@Edgar I also use comparators especially with Junior explorers as the dynamics and pricing of producers are very different.

If I use 3x exploration companies at very different stages of their evolution exploring for the same metals in the Paterson region, Aussie so that country, law & geology can be ignored. These would be Rincon Resources (RCR), Wishbone (WSBN) and Greatland Gold (GGP) all looking for Copper/Gold mineralisation in and around the NCM Telfer plant so they also all share the same route to market for their products via Telfer toll processing.

(1) Rincon - MCAP = £8.5m & IPO'd in Dec-20 @£7m. Fully funded for 2 years exploration and initial geophysics announced & started, but drilling yet to start. Has 21km of historic drill data from NCM with known mineralisation. MCap had dropped to £5.8m on no news last month prior to exploration programme announcement.

(2) Wishbone - MCap = £21m. WSBN (next door to Rincon) & has completed initial fundraising & geophysics drill targeting work. Recently announced 30km drill programme over 4 years, but no historic mineralisation & modest funding.

(3) Greatland Gold (Explorer moving to mine build stage)
Mar-2020 pre-NCM JV - MCap =£60m after several successful drill intercepts of good grade and lengths.
Now after NCM JVs & 120km+ drilling & 3.5 Moz MRE - Mcap = £800m on GDXJ & owning 'just' 30-35% Haverion, but is very well funded with bulk of exploration and mine build costs picked up by NCM.

Just gives you an idea of what is possible, fortunately these 3 have lots in common with drill, exploration & JV partnering progression being the standout differences as 'markers' on their MCap journey.

For the copper side I use Castillo Copper (CCZ) in Aussie and ARC Minerals (ARCM) in Zambia:
(4) Castillo Copper - MCap = £21m 3x copper projects in Aussie and 1x in Zambia. Drilling already underway last season on one 6-16% Cu grade prospect, but price fell back significantly from £60m over 'closed' season. Has 3.2Mt JORC @3.35% Copper resource identified. Modest funding.

(5) ARC Minerals - MCap = £72m 840km2 of contiguous Zambian Cu and Cu/Co licences previously explored by AAL containing their top 6 targets. Extensive soil sampling and geophysics work complete & more planned. 6km already drilled & 2x Tier 1 targets identified grading circa 0.6/0.7% Copper. In exclusive talks with AAL about a deal & await details/announcement. Also has production 'Ace' up its sleeve and is well funded.

Food for thought as GWMO has historic very high grade gold/silver mining, and is 18 months into exploration with drilling underway, but no drill results (yet). GWMO also has separate copper licences and a modest JORC resource of 4.3Mt grading 0.45% for 19kt copper metal. For comparison we are sat at stage (1) Rincon (£8m) with rapid move likely to (2) Wishbone (£21m) if drill results come back positive across ANY area being drilled.
Clearly AIMHO & ATB APR

@Viable Acknowledge your concerns, but do not think the historic Mt Oxide mine is an issue for CCZ as it nowhere near our tenements and certainly NOT on them as per @Drseals earlier post referencing last CCZ presentation.

Naturally I am very disappointed in CCZs recent SP performance, but as a shareholder funded Explorer without news flow and/or firm dates in its RNS this is no surprise and the BoD should have been on top and well ahead of it.

CCZ is now @£24m MCap having recently extended its licences in Mt Oxide district with an upcoming drill programme & mining licence application for its Big One prospect.

I think divestment of Broken Hill licences would help sentiment and lift shareholder value in the short term so they need to get this IPO'd with a fund-raise and stock split for existing CCZ holders..
ATB APR

@F29 Feedback appreciated, will reread this evening.
ATB APR

Apologies that was on WEEKLY chart to cut out the noise. On DAILY chart POG also bumped up through 200DMA @$1,831 on 6-May-21 and retested it as support today so a close above that level would be good.
ATB APR

@Bushy LOL, just came to same conclusion. HUM has been rangebound since 24-Feb-21 between 19.5p and 22.75p so a daily close above 22.75p would be positive.

No surprise really as PX broke both 20DMA and 50DMA on 6-May & confirmed by POG breaking recent down trend at $1,782 also on 6-May so NOT an accident ! POG now sat at $1,836 and contemplating $1,860 resistance which should see the remaining bears off.

Next target is 100DMA sat around 25.5p.
ATB APR

Hi @Sparta Good prospects, just don't mind the our 2 'mascots' when they pop onto the BB to spread their customary cheer!
ATB APR

LOL @Wisha It certainly feels that way, but boy-oh-boy is copper on a tear now it has conclusively broken above its steep & stable trend channel from Mar-2020.

Just wish ARCM would wake up now and smell the copper ... they have enough of it!
ATB APR

@O&W Yes I should know better, but had to ask :-)
CB Deja Vu !
ATB APR

I now have JAN on my watchlist and have been through JAN Presentation and recent RNSs, but I'm concerned about seemingly heated & contradictory posts. Anyone care to offer a consolidated view about what can be agreed on and what is 'still up for grabs'.

I can't be the only one sitting on the side-lines and thinking the same?
ATB APR

ASX mandated summary of activities within the quarter so no 'real' new news.

No surprises & Items of note:
Cash: A$2.4m or £1.32m
Cash Burn: A$400k/quarter ... Costs to 'run' CCZ, steady over last 4 quarters
Exploration: A$572k in last quarter to fund announced modelling, geophysics and drilling
Quarters cash remaining: 2.4 assuming above exploration spend rate continues

RNS @7-Apr-21 Exploration "Next steps
· Within the next few weeks, the geology and geophysical teams intend to visit site and commence work at the Big One Deposit and Arya Prospect
· Once the geophysical survey has been complete and reconciled, the next phase of the drilling campaign will commence"

News confirming geophysics commencement and/or modelling update would be good ... drilling better still !
ATB APR