Member Info for aprogerson

@james LOL, I suggest you do some homework and take a look at different JV structures and just how successful they can be ... if there is the will they do not need to take years and can significantly increase shareholder value. For full/partial T/O or buyouts take a look at some comparables such as FQM Sentinel purchase in 2009 and do your own math on what the significantly increased copper price might do for that ... I know we have.
ATB APR

@sanboy Copper Breccia or better still copper/gold is significant as Breccia is usually the halo around a higher grade deposit. We already have a JORC copper resource IF this additional drilling is sufficient to show reasonable confidence that any mineralisation is contiguous then the JORC could be revised up significantly ... that would be a material boost for GWMO!

Looks like some bedtime reading for me !
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@riseagain LOL, it was a decent price as per my prior calculations vs. historic raises unless you can reverify otherwise ?
No I thought not
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Nice investment, solid business and tin in demand. I'm guessing an IPO will be on teh cards at some point in near future and GUN should do well from it
ATB APT

@longfell @Major-Tom Yes, Alvis Crest acquisition will need funding to develop out to DFS as RNS was silent on funding source, but as @Major-Tom rightly points out any AAL transaction full/partial buyout and/or JV looks like the near-term source for that cash. Worst case the outcome of the Scoping Study and push to generate our own 21m+ per annum FCF in 12-24m would be the 'backstop' source of such funds so looks like NvS has that covered as well.
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@8ead RNS clearly states the Alvis Crest acquisition is for £1.2m cash NOT ARCM shares.

NvS is looking to increase ARCM control not reduce it as RNS also stated looking to acquire bigger % of Zamsort which I expect will be by share swap for ARCM shares and makes very good strategic sense.
AIMHO APR

@lantier Nicely put and a timely reminder.

Definitely very strategic bold move by NvS ... sends a very clear message to AAL
> Placing of 23m shares or 2.2% of ARCM for £1.5m cash with ZERO cost Placing and NO warrants at 6.5p (10day VWAP)
> £1.2m used to acquire 75% of Alvis Crest from Kapore "The acquisition of Alvis represents an opportunity to acquire a very interesting asset with minimal dilution for Arc shareholders at a time when there is a rush for attractive copper projects"
> £300k used towards New Zaco / Zamsort Exploration Programme "... will require more significant, deeper drilling as well as an airborne geophysical survey"
> BoD stated will look to acquire more %Zamsort

ARCM Acquisition:
> £1.2m cash for 75% of Alvis Crest subject to ARCMs Due Diligence
> AC owns 2x licences covering 210km2 in Botswana Kalahari Copperbelt & approx 10km south east of Zone 5 Copper/silver project (60kt Cu and 2Moz of Ag pa for H2 2021)
> 1% NSR with option to buy-out for US$5m prior to purchase of 25% option
> Option to acquire balance of 25% of Alvis Crest for US$5m
> Extensive exploration geophysics data set and resource model available
> Exploration Licence granted and in place so 'Drill Ready'

It's Business as usual folks
"Notwithstanding the ongoing exclusivity discussions with Anglo American, which have been VERY PRODUCTIVE, we are simultaneously pursuing an aggressive and ambitious agenda ourselves."

No one likes a Placing but 23m or 2.2% of ARCM for £1.5m cash to acquire 75% of Alvis Crest drill ready copper project looks like a canny deal given the backdrop for copper we all know and love! When coupled with renewed drill programme at Zamsort and retention of current cash, assets, scoping study and move to extend licences this is a very bullish RNS.

No one seems to mention:
(1) AC is drill ready and only 10kn south of an existing producing Copper/Silver mine that if/when AC is proven up may want access to more local reserves or have capacity for toll processing ... potentially VERY significant.
(2) Potential cash from Sturec and/or CASA existing deals are very much still in play
AIMHO APR

@JTD Yes, I think that AAZ have had a LOT to think about and doubtless they are trying hard to understand what needs to be done and how fast they might be able to do it. Like you I'm pleased the Conroy distraction now isn't one
ATB APR

@riseagain As I previously explained no drill bit broke when drilling M4 Sharkstooth it was winters onset and water cooling drilling had to stop as temperatures were fast dropping below freezing. We both know drilling never resumed as in hindsight it was an expensive moonshot and ultimately broke GWMO but not alas the drill bit.
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Todays price has now retested & bounced off what was the resistance line formed by 2 recent highs at 7.25p @18-Jan and 7.3p @23-Feb which if we close above 7.35p today should be decent support going forward.

Next Target 9.6p/10p anyone?
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Price just dropped to 0.225p and bounced which is not unusual after a Placing to get near or near abouts Placing price. The price has been range bound for several weeks between 0.225p and 0.265p so you should be good for a few days more !
We now need exploration & drilling start newsflow
ATB APR

@mcadder My thoughts exactly ... I label Junior miners 'High risk & very high reward' for a reason. Difference is now Placing has been confirmed at reasonable rates the risk is reduced but the considerable upside is still there.

GWMO have filled the remainder of the exploration season post Jul-2021 with a now twice extended exploration programme with multiple high grade drill targets on multiple licences and made a tentative restart at our M2/M4 copper prospect.
Bring it on & lets get drilling ... lots to do.
ATB APR

@shandypants Looking at my weekly chart, GWMO has been trading in a range of 0.265p to 0.225p since 2-Feb-2021 with yesterdays close back up to 0.265p so (0.256 - 0.22) / 0.265p = 17% discount to yesterdays close at top of range or if you prefer (0.265 - 0.225)/2 + 0.225 = 0.245p average over last 7 weeks to 0.22p Placing price for a 10% average discount.

Apologies I should have run the numbers when I first saw the RNS, but you are right it was struck at a reasonable price.
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Bottom line is GWMO have brought forward what would otherwise have been done in 2022 into the second half of 2021 and massively increased our chances of success in year whilst speeding up building out the tailings production facility so we get revenue earlier. No one likes a Placing but no one wants to wait longer than necessary for results either !

As a Junior explorer with no own operational revenue stream the question was always going to be when not if there was a Placing ... looking back at previous raises by GWMO a discount of 15-20% is fairly typical.
ATB APR

@Shorn Don't worry it's not you CCZ has been 'quieter' that most BBs as it is primarily ASX driven and the 'crowd' haven't discovered it yet.

CCZs main focus is driven by available funds & most likely prospect/s that will deliver some positive results:
> Mt Oxide copper targets and drilling outcomes at Big One and Arya only
> Broken Hill divestment = free shares in a NewCo & likely IPO to raise exploration cash
> Everything else = distinct sideshow right without new exploration funding

My take as an investor who likes explorers and smaller producers is that they are doing all the right things in the right order but ASX has LOTS of miners and is a very tough crowd with an very short attention span ... erm sounds just like AIM !
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@McC Looking back on 'old' SPs is always tricky as you are almost always compare 2 different things, main things to think about are:
> Value = we look at SP as that is price we paid for our shares Market also looks at Market Capitalisation (MCap) SP x No of shares
> Revenue = explorers need to pay bills so they need to raise cash usually through issuing new shares at discount to current SP which dilutes existing shareholders but can increase overall MCap
> Shareholder value = it is why we invest so that our shareholding goes up over time as a reward for providing cash to company. A good BoD does NOT raise too much cash, at the wrong time and/or at too big a discount as they know not to risk losing their shareholder loyalty
> Warrants = useful enticement when raising cash but can be overly dilutive if priced wrongly
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@techtonic LOL, probably me just being picky
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@techtonic I'd happily take 9p for a 40% top slice as my average is currently sitting at 1.8p

@ihowells Oh that we had that much power !