Member Info for ART123

No pre AGM RNS so no new news. All in all very disappointing.

Doesn't seem to be even a sniff of a contract since Halycon V2 was released.

Looks like the possibility of a pre AGM RNS was keeping the shareprice up so now this is done today I would expect a fall back into the low 0.20's or even lower.

Glad I sold at 0.39p. Seems a wise decision.

Besides RNS's can pop out an any time of the day with this lot.

This was 1.70p/1.80p a few weeks ago before the placing. The big drill results and the best assays are still to come so there's no reason this won't rise a lot more in the coming weeks. Assays were expected around the end of the month. If they're a bit late I certainly for one won't be panicking. This is a transformational drill and it's a bonus to be able to get in at anywhere near these prices.

Good prospects here. Although complicated and in geological jargon I think we can assume that the M2-041 drill has hit the prospective target and that was up to the 450 metre point with up to twice that depth still to drill.

"The intensely altered and mineralised core from 1050 to 1480 feet (320-450 metres) is currently undergoing assay, with the results expected around the end of the month."

"The net proceeds of the Placing will enable the Company to extend the current M2-Sharktooth drill programme. GWM plans to drill up to two further boreholes from existing permitted drill pads to investigate the extent of the newly discovered hydrothermal breccia."

The hydrothermal breccia zone sounds good and below that the company expect to find the mineralised diorite intrusive. As we haven't been informed they have stopped drilling we can pretty well assume that they have found and are still drilling through this lower zone.

The shareprice spiked from 1p to peak at 1.95p on the M2 update on 23rd May and that was only giving the assays over much smaller intervals. Importantly the shareprice started re-rating after that RNS and despite the rise being knocked back by the placing I think this is a good time for the re-rate to restart.

Just had 2 more top ups at 1.3364 and 1.34 to add to the ones at 1.20p I got on Friday..

ATB

Forgot to add the link:

https://www.investegate.co.uk/great-western-mining--gwmo-/rns/significant-m2-jorc-resource-upgrade/201706120700047406H/

The current drill into the M2-Sharktooth mountain are going to be very important for GWMO. The M1 and M2 resource has been okay with average grades but overall a smallish deposit but the Sharktooth prospect could and should be transformational for the company.

According to the JORC exploration upgrade released on 12th June 2017 (link below) the M2 North Zone had a resource of 89,195 tons of copper at 0.525% copper while the exploration target for the M2 Sharktooth zone was a staggering 871,100 to 2,071,350 tons of contained copper at a projected grade of 1% to 1.75% Cu.

This is what caused the shareprice to rise from 0.40p to nearly 3p at the time.

Of course these exploration target figures were only estimates supplied by Donald Strachan, the in house geologist, as there had only been one short drill into the Sharktooth peak before (which I can't seem to find the results of but it must have been at impressive grades).

Now they are on a 3 drill program, with each drill aiming to drill between 770 and 900 metres deep. The first drill, M2-041, which started on 17th April 2018, was at 450 metres (1500ft) on 3rd July. From RNS:

"Drill hole M2-041 is currently at 1,503 feet (458 metres). The last 200 feet (61 metres) of this vertical drill hole has intercepted intense hydrothermal alteration and mineralisation at the projected base of the M2-Sharktooth Dunlap caprock. The unexpectedly thick alteration and mineralisation, in the form of multiply-silicified, quartz-magnetite, hydrothermal breccia, appears to have taken the place of, or is very likely above, the copper and gold-bearing diorite. Drilling will continue through the hydrothermal breccia and is expected to then encounter the mineralised diorite intrusive.

The last 10 metres of drill hole M2-041, besides intersecting numerous large vugs and voids from one to several feet in width, has been characterised by even more intense, multiple quartz and quartz-magnetite breccia, banding, and flooding than intervals above. The intensely altered and mineralised core from 1050 to 1480 feet (320-450 metres) is currently undergoing assay, with the results expected around the end of the month."

We are now expecting the first set of assays for the top half of the drill. We should also get an update on the progress through the deeper part of the drill with those assays to follow later. Judging by the time to drill the top half, the easier part to drill, which took 6 weeks this should still be ongoing.

ATB

It looks like I might have got my timing right here for a change. Fingers crossed I have anyway.

This is one of those shares that I seem to find myself watching when it goes on a massive rise wondering why I never got in before the rise but I've managed to get some today and the shareprice is rising already.

The M2-Sharktooth first hole assays are imminent (around the end of July) and they sound as if they should be good.

The RNS from 3rd July also says:

"The net proceeds of the Placing will enable the Company to extend the current M2-Sharktooth drill programme. GWM plans to drill up to two further boreholes from existing permitted drill pads to investigate the extent of the newly discovered hydrothermal breccia."

All sounding good and I'm in at just under 1.20p which is fine and the chart also looks primed for a rise up to 2p.

ATB

Board cannot be trusted here. There have been a succession of 1 codes over the last week or so but there hasn't been a RNS for nearly a month. That is not playing the game. I generally trust 1 codes but this company is now putting the whole code system into disrepute.

Looks like they did a placing and open offer this time last year at 2p for GBP1.9M. Also looks like they settled with Matt Cooper after he resigned which ended with a 10 to 1 consolidation so the 2p shares were in reality 20p and now they are trading at 4.5p. This company has all the history of being just a disaster and it will take a mammoth effort to turn this around.

Just my opinion.

I remember this share form a few years ago when it suddenly became fashionable. I think it was when the infamous Rob Terry bought a stake. I remember at the time the company had a reasonable turnover for the m/cap but they were always operating at a loss and were totally dependent on placing funds for their survival. I don't think much has changed on that score. I didn't go anywhere near it at the time which was probably wise looking at what happened to Rob Terry (does anyone even know what did become of Rob Terry?)

However I'm always prepared to give new management the benefit of the doubt (though I'm not in here yet until this investment is secured or otherwise and at what price) but it will take a f*ck of a lot of change to turn this into a profitable business. At the moment it is tiny with a very limited revenue stream and not really going anywhere. Matt Cooper has tried to turn this around himself for a few years and generally failed despite chucking a lot of his own cash at the company through his short term loans (not sure how much of this is still outstanding). Just a long way to go here - and it would probably need a complete change of direction to make this a success.

All just my opinion.

"Vin Murria continues to be in discussions to make a controlling equity investment (the "Equity Investment") at a price of between 2.5 pence and 5 pence per Ordinary Share in the Company conditional on the Takeover Panel waiving the obligation for her to make a general offer for the Company under Rule 9 of the Takeover Code."

I can't see any point in buying in now at 4.80p or whatever.

This investment, if it happens, will be at a shareprice of between 2.5p and 5p. If it's the lower then the shareprice will immediately fall to around this amount and if it's nearer the higher end then the shareprice is nearly there already so there isn't going to be much of a saving. Case of sitting out and waiting.

Wouldn't want to be buying in to a 48% loss for the sake of rushing (and listening to the usual culprit rampers who are here already and ramping away and who have left it to late to worry about the risk of a 2.5p investment.)

Just my opinion.

Looks like I was right. This is down today. More falling to come as well.

Don't blame the MM's or false reporting of buys/sells.

It's called profit taking. I've taken all mine for now and others are doing the same.

10p/11p last year was a result of the 1400metres of Kimmeridge and UKOG'S 100% interest at Broadford Bridge (not that it flowed anyway) whereas at Horse Hill UKOG have only a 32% interest and the 2 Kimmeridge zones are 88ft and 80ft so not quite the huge potential of BB.

I can't see the shareprice exceeding yesterday's highs while the Portland zone is being tested. After all 200/300 bopd x 32% is hardly valued at too much and with a m/cap already over £100M it is super factored in.

Kimmeridge could see a further rise into the 3p's/4p's if it all flows as before.

All just my opinion.

Bit like yesterday - plenty of buying and everyone predicting a rise but it turns out to be a fall. Fairly predictable really.

SOLO down more than 10% - this will probably be the same later in the day.

If UKOG increase their interests in Horse Hill it will be interesting to see what they pay - the UKOG valuation or the other partners valuation (which is about 4 times less than UKOG's inflated figure).

SOLO have far better "other interests" than UKOG.

And so do SOLO - and ALBA.

And the SP here shot up due to the 1400ft of Kimmeridge at BB. The SP has never exceeded 3p/4p on any Horse Hill news so far - and probably won't now.

Hopefully news soon. ASX is looking stronger these days and might even push this up a bit.

The difference between this and BB when the SP shot up to 10p is that UKOG ony have a 32% interest hee compared with a 100% interest in Broadford Bridge.

All the other partners will be keeping the sharperice down here. 2 of the other partners, ALBA and SOLO, each have around a 10% interest and a m/cap of £10/13 Million which would value UKOG's 32% interest at around £30Million whereas the m/cap here is now about £130M which is way over.

SP to drop is my prediction.

Cracking share. Nice profit in the bag and I was bashing the **** out of this a few months ago. However I'm not too proud to come back and make some money here when things start going a bit better.

I don't think the shareprice will do much more over the Portland - after all 200/300 bopd is nothing to get too excited about, especially with only a 32% interest, and the m/cap is already GBP130M.

The real interest in this EWT is going to be KL4 (and KL3 to a lesser extent but KL4 is going to be tested first anyway). The big question is whether the Kimmeridge is going to flow for an extended 30 day period, especially after all the disasters at Broadford Bridge. If it does keep flowing at the previous rates then I'll be back in as the shareprice will re-rate higher without doubt.

ATB

You can post anything you want here. You don't have to be a shareholder. You just need an opinion, positive or negative. While the LTH's like to think they can "police" the boards they have no more "rights" or say than anyone else.

Oh dear I'd better report that post - it doesn't fit in with my posts and all my ramping. Oh dear a negative post may send the shareprice plummeting and I might lose all my money. Oh dear.

I often wonder exactly what the LTH's get worried about when a post that isn't a total blind ramp hits the boards. They can't be very confident in their holdings if they get in a tizz over a difference of opinion.

Pathetic.

And so is getting posts deleted. I thought that was all in the past with the demise of companies like Quindell and Cloudtag and PVR and BOS, etc, etc. You have to remain open minded with the AIM market. Anything can happen.