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3 holes - 1 should be at target depth by now based on what they have told us in the last two operational RNSs - also the last M2 assays had a hole fairly close which had pretty encouraging figures. ST as M4 is initial exploratory drilling.

I agree Janiax.

I posted the other day here that I was looking to set some limit orders to reduce my holding at certain points but I gave up in the end as the fact is that after the next few RNSs the share price should be considerably higher!

We need to see what they say but the current share price is almost a joke especially given the fact that the 9 months drilling will be reporting back over the next few weeks. This drilling has been 5 years in the planning too. It is wise to project based on the lower end. I don't know of any other opportunity that is at this point in a secure area with a low market cap.

No reply from galaxy yet about their expectations about possible copper levels!

Hi Janiax

It's difficult to say and all these chats we have are based on assumptions and what the company has previously said but looking at the various different figures this is my estimate:

M2 (source various)

target of 40-50 million tonnes of 1/2% CU
assume 45 million tonnes = 225,000 tonnes of 1/2% CU @ £100 = $22,500,000

M4 (source 2013 presentation - this is the first drilling here)

target of 200 million tonnes of 1/2% CU
assume 100 million tonnes = 500,000 tonnes of 1/2% CU @ £100 = $50,000,000

ST (source 2017 presentation & 2017 video interview - this is the first drilling here)

target of between 70 to 700 million tonnes of 1.00-1.75% CU
assume 200 million tonnes = 2,000,000 tonnes of 1.00% CU @ £100 = $200,000,000

M1
No idea!!

I have used a notional $100 per tonne in ground value and picked quite low figures based on the ranges they have told us. As Janiax says it will vary greatly though.

Obviously there are some pretty big numbers here which is why the next RNS is so important but if they can show us we are getting on track it will be a great few months. So I make it $300,000,000 worth of copper. Now you can do the maths if they find one third of that or even double or treble that. One third which I see easily achievable is around £75,000,000 so multiply the current price by 7.5. Sounds crazy I know!!

Andrew

Morning Galaxy - could you perhaps offer some guidance of what you see them announcing on the following and then we can have a sensible debate:

1) M2 drilling with and without a new JORC)
2) ST drilling
3) M4 drilling
4) If you have any thoughts about M1 which I think most are just treating as a bonus

Look forward to your reply, Andrew

That's my view - but it will come down to the figures - my logic is the current MC is around £10m and with solid figures to show M2 has a JORC and let's say around 40 million tonnes of 1/2% Cu on M2 it will get a massive rerate as the previous JORC was around half this and that was withdrawn due to issues with the subcontractor.

Now here is the next bit...

If we can see something along those lines with ST figures shortly due and then M4 drilling close too both of which could have a multiple of that the shares should really get some attention. To say we will be in double figures if M2 comes in as I hope and ST and / or M4 look promising is perfectly possible in the next few months.

The reason the price is low currently is I don't think many are prepared to take the risk and back the potential so that's why this next RNS is so important to see where we head next.

Hi Max - sorry to disappoint but I can't see it pulling back - interesting that it has opened up (slightly) with just under 2m sold and 350k bought - my view is that MM want stock and we are heading up further today! My best holding my a country mile...

I am expecting another good day here - you never know if we will see an intraday RNS but I expect a small gain today and also tomorrow as we wait for the news. Very cheap in my opinion at this level (sub 2 or 2.5 pence with what we know before news). Looks like MMs are still looking for stock as we open up today! Good luck all.

Good questions - I have discussed much here over the last few days. Also on another board which is ADVFN. And then I also use Twitter daily. All these chats are in the public domain so you can read it all for yourself.

I would estimate its at least 20 or 30 different investors, maybe more, who all see the great potential in this company. I believe is still under mosts radars (which is why the company is so cheap in my opinion with the close newsflow and vast potential resource).

Hope that answers your questions. Andrew

Evening all.

I was pleased to see the share price gain a little today although it would have been nice if it held onto the 1.7 to 1.8 publicly quoted spread that it was at earlier. That said the selling price was pretty much the same even after they changed it to 1.6 and the buy price still at the top end. When I have checked the RSP today I noticed that the MMs want to take more stock than they want to sell and that's always a good sign. Looking at the trades and the prices although it came off a little in the afternoon you can see that the price is creeping up so it's looking very good. My take on the MM behaviour is that they are very defensively positioned and most likely wanting to turn the stock around and certainly don't want to be short which I mentioned a few weeks ago as I think they got caught out then.

In terms of the rest of the week I see a similar pattern with it going up a little each day - of course if there are many more sells than buys it will go down and vice versa which I think is much more likely.

We could see news tomorrow or Friday but I am pretty sure it will be early next week and I have no reason to think it will be anything other than a very positive RNS telling us about M2 and I hope with the new JORC. We should get a general update on the other drills too but the general opinion from everyone that I have spoken to over the last few days is that we will see a number of RNSs over a month or two with the various different updates. ST and M4 will be particularly interesting and I hope to see clues about that in this next RNS. Let's wait and see about the JV / TO speculation as that can't be far off either.

I expect the stock to trade with a lot of volatility on the day of the RNS but to close at least 100% up - obviously that is based on what I expect to read in the RNS and it could be more or less. For me I won't be selling any on this next RNS as I am currently planning as I want to get the gain through the next few months.

We have also covered other stocks and there is at least one that I plan to invest in that I don't currently hold (EUZ) but I won't start buying there until after the summer so probably September or October. There is no need to tie up the money until then as we can see here the price does not get going until just before the expected news and with AIM you always see the biggest gains after the news (I still don't know why people don't buy in before). If you wait until the news comes out though you will have little chance of catching the whole gain as the MMs will open up much higher. You could argue that I bought in here too early but I am happy and it has also allowed me to build a big stake when no-one else really wanted the stock!

Like everyone I am looking forward to the next few days and especially when we see the next RNS. Catch up tomorrow and enjoy your evenings!

Andrew

I don't like being rude about people but if they are short on this they need professional help - firstly would be difficult to find a good company to take that trade unless you are a professional investor when you can almost do what you want - and secondly the potential gain against the potential unlimited loss is absolutely crazy!!

I do admit double figures seems far away but the reality is it will come down to the drills - specifically M2 JORC, M4 exploration drilling and ST exploration drilling. Once we know that this share will be in a very different place! I would love it if they did reply though but suspect they won't.

If anyone is interested the RSP is still crying out for stock and I will put that on twitter shortly so everyone can see!

riseagain - I have time this afternoon so happy to entertain you! Why may I ask is there no chance? How much copper do you expect them to find at M1, M2, M4 and ST? Lets start with that then we could project a value woth some figures!

Assuming the next RNS is the M2 assays with JORC it will only be weeks for ST drilling to be known if they release hole by hole.

Double digits share price on ST news is perfectly probable as they have said we could be looking at between 70 and 700 million tonnes of 1.00-1.75% copper at ST. So that's a 600% return in a month or two easily taking the start of that period from today.

Assuming ST is 350 million tonnes of 1.5% copper (half their range) using an inground value of $100 per tonne that values it at $525m which is about £400m or roughly 65 pence a share so you can see how silly the current share price is!

Plus we also have M4 and the small target at M1 to find out about.

Its looking very good - every sell is getting printed with a higher price and we still have many more buys than sells. Its looking very good and I am standing by my prediction that this will close more than 100% when the next RNS lands which I expect next week.

The RNS should show everyone what we potentially have and then the facts will speak for themselves.

I am not looking to sell any until above 5 pence as my plans currently stand but after reading the next RNS I will hopefully adjust that target for slicing a small amount of my holding up by a few pence.

Opportunities as good as this rarely come along and I plan to make the most of it.

A little drop down as a 300K sell but I have just checked the RSP and the MMs are looking for more stock than they are happy to sell - so without news very much depends on the trades but with a few buys this will keep moving up today. Picture of RSP on twitter if of interest.

Good sign Lennie - there is not much free stock and I suspect pretty much all will be waiting for the next RNS. I am going to check the RSP QTYs when I next speak with my broker so will share that when I can.

Chee - I agree and yes I think a number of RNSs is more likely. I watched the video again last night from last year (https://www.youtube.com/watch?v=d4LeX6Xq7mQ) and it's clear that a JV or buyout will be on the cards as the next step but if not I am still very happy as long as they can show a clear path on where we go next after these drills. They have other targets too but I think they will try and monetise some of the existing ones before moving onto those.

I would agree with that godwilling - I am expecting the revised JORC as time wise it does make sense but as long as the figures are good I don't really mind not having a JORC. It's a small additional cost and they are quite conservative with cash which is always good. Be interesting to see if we get a RNS before the weekend but again I expect next week.

What is everyone expecting (not hoping for!!) on the next RNS?

I see it either being a big RNS with various different updates OR more likely M2 with a new JORC but then a series of good RNSs through July and August. I would also go as far as to say that I think we will hear about what the next step is going to be after the drilling campaigns and this would have to involve a partner which could also be massive news for the company.

Interested in what everyone thinks.

Morning all - yes a very good start - in my view GWMO is one of the most honest and best run companies on AIM and it normally does not leak when news is coming - however I do think that looking at the trades today someone may have caught sight of the news - a great sign.