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Post from SteaksAI now renamed TAO Alpha

The usual source of a leak - and not necessarily what happened here - is a pre-recorded podcast where the less-than-scrupulous podcasters get hold of the info in advance and obviously buy in which then triggers a reaction from the market. Unfortunately the management these days are as much to blame as the podcasters for wanting a face-to-face interview out alongside the news release.

Great news but I wish they would get the seismic done and get on with the drill as this could turn out to be a monster discovery.

Deaking fees:

H/L - £11.99 per trade

AJ Bell - £3 per trade

IG Markets - £0 per trade

Vol Sold 2,072,726

Vol Bought 43,868,617

Definitely all buys - one of them was mine - and also why it is now 7.24p to buy 100,000.

Just believe it - don't question it.

I've just noticed that about a year ago SYM did a premium placing at 3.5p when the share price was at 2.1p and on the date the shares were issued the share price was sitting at 3.5p on the Ask. Although this is a more extreme premium placing, there is no reason why the share price won't do the same and move up to 20p on the Ask.

The shares are due to be issued in two tranches, a smaller amount on or around 12th May - which is next Monday - and the rest on or around 9th June. Not a long wait for a big return and certainly worth holding.

The interview was okay, but I am just surprised that the interviewer didn't ask AH how the drilling licence application for Hussar was progressing and maybe clarify when the approval is expected. It doesn't take much to actually face up to these timelines instead of avoiding them.

While it is great to have the resource upgrade, this is now all about getting the drilling approval and mobilising the rig for the first drill. With that underway, we can expect the share price to rise to match that of MSMN, which has gone up by 25% today and by several times over the last few weeks.

Same old weedy little drips blaming me.

I see that JDAU was posting exactly the same in 2021 when the Bushranger drilling was progressing - and look what has happened there. Low grade is low grade whatever the type of deposit and whatever the mineralisation.

Well I'm happy to let the share price do the talking - and not JDAU. The market values this at 1p to buy - and the market is never wrong, or at least not often.

Yes, I was hoping for and expecting a lot more - 2p or 3p and even 5p or 6p and I can assure you that I would have sold out at any of those levels as well if they had happened. Having been stuck here at 5.3p for 3 whole years while nothing happened, I am hardly going to buy in again and risk being stuck here all over again.

I can see that all of the very LTH's who are stuck in here under water with averages of between 3p and 5p are going to keep ramping this but there is nothing to get excited about with these results so far. 2 holes out of 6 have had good copper grades but the rest are quite poor and so far the silver grades have all been on the very low grade.

Just to note, it is very easy to compare the value of gold to silver in a prospect. Gold is around $3250/oz while Silver is $32.5/oz. In other words, the gold price is 100 times higher than the silver spot price, so the silver grades can be divided by 100 for a value comparison. 40g/t of silver is equivalent to 0.4g/t of gold.

And despite his excessive enthusiasm and spending, that prospect (Bushranger) has now been completely forgotten about with only a couple of minor RNS's over the last year and a half.

I think that caution is required with Mr Bird. He raised £10.5 Million altogether to explore Bushranger and spent over a year drilling 33,354 metres of diamond drilling only for the prospect to prove to be uncommercial. In other words, he got a bit carried away and spent the cash very freely but with very little reason or financial sense.

So much for robsaunders1's post claiming KoBold have hit copper. They might have on their own prospect, but not so far on TYM's lease, which is a shame, a great shame. They have been drilling Hole 2 now since 26th March 2025 - so for 5 weeks - but with nothing reported so far.

You would think that with all of their "proprietary AI-driven models of the regional geology to support the mineral exploration targeting" KoBold might have some success but despite over a year of continual drilling - Hole 1 was spud on 9th April 2024 - so far they have found absolutely zilch - not even the obligatory low-grade copper that usually turns up to keep the drills turning but never is the least bit commercial.

Come on, KoBold. Where is the 350 metres of Copper at 3.5% that is going to set this alight? According to the latest presentation, KoBold's Mingomba deposit has 204 mt at 3.7% copper (which equates to 7.5 mt of contained copper) , much at depth, which means that at least half of the deposit must have grades in excess of the 3.7% average for the whole tonnage.

Yeah, I reckon the old-timers have stripped this one bare. They have left a bit - 268,971 tons at 2.7% Cu gives a grand total of 7,262 tons of copper with an in-ground value of $67M at today's copper price - but that's not a lot especially when you consider that some of the mines in Zambia boast resources of 100/200 million tons at 3%+ Cu. The only hope here is if XTR can find a second pipe or discover huge quantities of copper/silver-rich ore at depth.

Well, I for one was disappointed with today's assays. The previous assays from no less than Glencore were reported at 5.47% Cu and that is what I was expecting AND over the whole width. 95 metres at 5.47% Cu or thereabouts and the same for the other 2 holes.

What we got today was less than what was expected, hence the lacklustre performance of the share price.

Yes, if the grades had all been over 5% Cu then I am sure that the share price would be much nearer the 2p/3p level but it was not to be.

So where do we go from here? More drilling but ominously, despite the continued drilling since the first 3 holes were completed, we have not had any more reports of any further high-grade intersections. And what we might have now learnt from Mr Bird is that if he says nothing then not to expect too much.

I can't see anything on Bloomberg and I have searched hard enough.

I'm happy. I have the cash back from shares I bought on 30th May 2022 - that's 3 bloody years ago. How time flies when you're having fun - or not in this case. I shall now see how the drilling progresses here before committing further.

ATB

Yeah, it doesn't take much to move this tiny m/cap these days - £10.5K's worth of buys has it up by 27.78%. I think I'll wait and hear any news - discovery or placing or whatever - via the official news.