Member Info for CaptNemo

Probably not EC, but would be nice to see that % trend downwards.

Shorters normally make money when a share tanks - that's the whole idea of the game. I suspect most of them are laughing all the way to the bank this morning.

It was in the 20's yesterday Mikey, even if only for a while. Have no fear, there is real value in this stock, the combination of continued debt reduction and a dividend should push up to the high 20's.

Hi PFC Vet - any good news is welcome.

Like you I took the plunge and bought back in yesterday, as it looks like the risk of a D4E is reducing. Time will tell.

Me too Maddog - very welcome RNS :)

SP has NOT reacted on HL ......

Mary

I think it's more likely that most of us who have been here for a while and rode the last up/down with the previous offer going from 240 to 140 are simply hedging our bets. I know I have, sold 50% of holdings this morning for a good profit.

Now waiting to see what will happen, either sell the remaining 50% for an even better profit IF the deal does get approved, or use the freed up cash to re-purchase at some point in the future if the deal does not happen.

Thanks Aucuba - I'd forgotten it was 17:00 rather than 07:00 - we'll just have to wait and see......

Is no news, good or bad.....

An RNS saying deal done would be positive.

An RNS saying no deal would be a short term disaster.

But no RNS ... what are we to make of that?

That's 8 big stones in six months - are they worth more than the current market cap of £17.12 million??

Barging of the year, a large majority stake in a rich diamond mine in Botswana for £17.12m at the current SP.

Unfortunately for the SP to move there has to be some action, only 4 (yes, 1, 2, 3, 4) trades took place yesterday according the the data on this site, if you can count the trades on one hand the SP is NEVER going to move.

This has to be one of the the most frustrating companies to own at the moment, and as for our glorious leader - ????????

Yes, very curious. Did SF need a quick $10m ???

And, who bought the 51m shares??? Was it one investor looking to build a stake?? Maybe we'll get a TR-1 in due course and find out. Whoever it was, they certainly got a good deal considering the long term prospects of GMS.

The RNS is a good headline, but the devil is in the details.

The highest concentration is from drill hole six (NC23-06) at 45m down and it's 0.23 g/ton - and that's the best sample. A lot of the other drills only encountered concentrations around 0.10 g/ton.

There are 31.1 grams in a Troy Oz , even with the best concentration of 0.23 you would have to process 135 tons of ore to recover 1 oz of gold - assuming 100% recovery rate, which never happens.

I think it's interesting, and if it does not cost too much they should continue looking - because IF they can find the vertical pathway for the mineralisation, maybe, just maybe, there could be a high concentration , maybe.

My guess is that it was 'resolved' by Onunda being paid off. It happens all the time in business, even if you know your right - it's often quicker, easier and cheaper to pay an agreed fee. Litigation takes time , energy and money away from other areas of the business and it's not 100% guaranteed that you will win, even with a very strong case.

Just glad it's out the way. One less obstacle on the road to the future.

Morning Crew,

Another positive RNS on the debt level this morning, and a ten point reduction in the interest rate just continues to improve the situation.

I first bought in here years ago, paid 54.99 p for my first shares back in 2016, have been here ever since, adding along the way. I really like the way this company is being run at the moment and think we could get to the 40/50 p range over the next two years or so, simply on the value created by the debt reduction. But, first we have to get to Mac's 25p target, we got close on the 18th April, maybe todays the day, or tomorrow, I can wait.

GLA

Morning, I guess all we can say is there was no bad news in the RNS, and this has always been a 'conservative' company.

Last year we had a bid from Apollo, and we all know what happened there.

Now we have an 'unsolicited, preliminary and conditional proposal' from Sidara @ 205 p which was quickly rejected. Very much a low-ball offer which they must have known would be rejected.

So, is Wood now in play? Do we get an increased offer from Sidara? Does todays RNS force the hand of ''another'' to make a bid? Now that would be interesting, and it's not impossible. A similar situation happened with RPS a few years back - laughed all the way to the bank on that one.

Could be a very interesting few weeks ahead.

While the RNS was welcome, the grades of ore leave little of get excited about.

A copper grade of 0.49% is roughly 11 lbs of copper per ton of ore. At the current price of $4.60 a lb that's $50 a ton, if costs $20 a ton to process, we make a profit. if it costs $50 a ton to process - no profit.

The gold concentration of 0.38 g/ton is not worth getting excited about. At that % it would require 88 tons of ore to extract 1 troy oz or 31 grams of gold. It's OK as an extra if there is not much additional processing required, but it's not really economic on it's own.

The silver concentration is better but it still takes 2 tons of ore to 1 oz of silver, at $27 an oz.

At todays prices one ton of ore would yield;

$50 of copper

$13 of silver

$25 of gold

And of course it's not uniformly distributed.

It's probably enough to make it viable, just, but it's not going to make us mega rich, which is why the SP stubbled today.

We have a market cap of ~ £350m and the latest P/E is - 6.25 until we get a positive P/E then I think we are unlikely to see an significant rise in the SP.

Much of the potential is still in the future and I fear many people were caught up in the bubble of late 20 and early 21 when anything hydrogen went nuts , but we are slowly working past that now.

Re Spuders, toltrisk, et al

Thanks for the link to the Nottingham article, they have a great reputation for chemistry at that Uni.

There is a company in Canada called GH Power and on their website they say they have a working prototype which takes aluminium and generates hydrogen using a proprietary catalyst. But of course they don't say how as it's a trade secret and a private company (at the moment).

I've been keen on hydrogen for a very long time and first bought CWR when it was 6p a share, before the 10:1 consolidation. Sold half my stake at the end of 2020 but kept the other half as I believe there is a bright future for hydrogen IF it can be produced without adding to greenhouse gases. Most hydrogen that's made today is what we now call ''grey hydrogen'' made by the high temperature steam reformation process, where methane (CH4) is reacted with steam (H20) to produce hydrogen and carbon dioxide. Today the hydrogen is easily captured and most of the carbon dioxide is released to the atmosphere.

Any of the myriad of evolving technologies that help to produce hydrogen in a way that does not add to green house gas emissions is a BIG plus in my book. The reason I really like Ceres is that the technology works in both directions, a fuel cell that generate electricity and an electrolyser that can generate hydrogen - what's not to like.

I'm also in PHE - for my sins - but again I like the technology (maybe more than the management) and IF they get that off the ground it will turn low level unrecyclable plastic waste into hydrogen and/or electricity with a very low carbon foot print.

Short tarcker has just updated and shows no reduction in the 10.09% short position. None of them took the money and ran yesterday.

Looks like the shorters are betting on either a massive dilution via D4E or bankruptcy.

I got out of PFC on Monday and will stay in touch, but the prospect of a massive dilution is very real, I think.

Good luck to everyone - it's been emotional.

Had enough, managed to sell this morning for much lower than my average - that was a 50k learning experience......