Member Info for ButlerMan

Hopefully it was a Director buying - now that would send a clear message!

I am still stinging from my XTR experience - 80% down. And what I learnt from that was that silence was usually a precursor to bad news. I am really hoping that it will be different with GLR, as the assets are much better. Maybe there is a monster RNS in preparation that will explain everything, and will the SP will rocket? I hold onto the dream…

Sorry, MF, but what is a /4 .3 system?

In March ‘22 we were in the 60’s I know, because that’s when I bought in…..

Funky, I have read all of Iky’s posts. He refers to sources/ conversations around Kamativi being sold. But this doesn’t answer the question on why anyone would be interested in buying, if the Li grades are (currently) uncommercial. So that’s why I’m asking. For example is it because the licence Is between 2 others that are commercial, and that’s why someone would want it? Or for what other reason is it a sought after licence? I’m just trying to understand.

Iky, The reconnaissance drilling on Kamativi showed signs of Li, but most were less than 0.3%, so not commercial. That’s not to say that further drilling could hit better grades (informed by the recent drill programme). So I’m keen to understand why there is view that Kamativi could - shortly - become a major mover of the SP. Would very much appreciate an education here, as I’m definitely missing something.

Commercial grades are usually 0.5%+. So these results are little underwhelming on their own. Sure, further drilling may hit better grades, but I can’t say that this RNS has got me excited.

I too am disappointed that Garfield isn’t in the current drill plan. But could the reason be that in order to put out the contract for PM drilling, and secure a time slot, proof of funds would be needed (from the raise)., but drilling won’t start for several months. So if Gov funding arrives before drilling starts, is there anything that prevents GMET from using the Gov funds to pay for drilling, and diverting the funds from the raise to Garfield? By doing this they would maintain the current drilling schedule and avoid several months delay in placing the drilling contract whilst waiting for Gov funding?

Icky, just when I’m starting to despair, you come along again to get my hopes up!

The current exploration licences run out next month, and a 3 year extension has been applied for. I don’t know if there is any risk associated with licence renewal. If there is, I’m guessing this may delay a sale? Anyone know if this is likely, or are licence renewals a slam dunk?

It was a typo. Should have been ‘XRT’.

Would be great if they were, Andrew . And even better if they turned out to be Director buys. But if buys, then why no impact on the Bid/Ask?

8 Dec was a Friday. 11 Dec a Monday, so next working day. On that basis, we would get the RNS tomorrow, if the initial term is to be extended again.

Donald has posted the following on Telegram….

The relationship with Riverfort is a good one. The company has the right to roll over the loan. The board expects financing to be agreed very soon. So the most likely scenario is that it gets rolled over short term until financing is agreed.

Thanks Trek. Insightful, as always! I appreciate your posts.

Finance news in itself would be great, and propel the SP, but the economic plan for the mine would surely be needed before a realistic valuation for PXC could be made? There have been many improvements made to elements of this, that have been already flagged. So could this be published at the same time as funding confirmation? If so, then that would be the mother of all RNSs!

Seems strange there has been a +6% SP movement going into close, when there only have been 3 trades all day, for a total of £1k! Maybe an RNS has been lodged and the MM’s taking a position?

Iky, please don’t let this guy get you down. I, for one, look forward to your posts and value your insights. You are one (of a number) of great contributors on this BB - that make it worth reading!

It was a stunning RNS, with the possibility of an IOCG. But I’m going to temper my enthusiasm until many more drills have been sunk, and the assays are back. I put a lot of money into XTR after the initial drill at Bushranger found a very lengthy mineralisation. The geologists there had their targeting spot on, following earlier years drilling. I invested heavily, only to find 2 years later that Bushranger is uneconomic at the current POC - despite many many comments from Colin that BR would be massive. I’m sitting on a 75% loss at XTR. So, please excuse me if I wait for a while this time round on GLR before I let myself feel enthusiastic.

I don’t think the actions in the U.K. - pushing back net zero targets, will have a big bearing on the price of Cu. The U.K. contributes just 1% of global carbon emissions, and the new petrol/diesel car target timescales just bring us into line with the Us and the EU dates. The car industry is global, so I suspect the manufacturers will have been gearing up to meet global demand in 2035 anyway. The ongoing deficit between supply and demand for Cu is clear to see. The question is exactly when it will materialise.