Member Info for CaveatEmptor

Agreed,

Particularly if there is a reasonable gold content, too.

Hello News,

RNS still being assimilated by the market imo.

I guess the market will be weighing up the dilution caused by the placing against the potential income from accelerated progression of our projects - if the general view is that they would rather have waited several months longer for the projects to mature then the SP will fall over the next few sessions, but if the general feel is that the £4,500,000 in the bank will get us to where we want to be without any more dilution and that the placing is accretive then the SP will rise over the coming sessions.

My feeling is that 6p-6.5p is a fair price, given the situation with our current assets and the security provided by the cash-raise, so I would expect to see the SP rise into the Geo results next week - but that is only my opinion.

I think that at the time the price of copper was much lower and it was before electric cars took off so they had better thing on which to spend their resource and effort.

But times change and now Copper is flavour of the decade...

No, I mean to say that the information already in the public domain will already have fought the attention of several suitors and it may become s race to buy us out prior to 2 million tonnes being proved up, as that would give AA the upper hand.

Before 2 million tonnes are proved up we can sell to whomever we like for the highest bid...

It is reasonable to assume:
0.5% average Cu grade (including Au contribution)
2.5 tonnes of rock per cubic metre
Average diameter of 400m
Depth of 1200m

This would give:
3.142x200×200 (py r squared = area) x1200x2.5x.005( grade) = 1.9 million tonnes of copper equivalent.
So it is not too difficult to get over the 2 million tonne winning line.

Let's face it Steve - we could still be drilling this time next week and we can hardly expect the SP to double every day we are told we have another 60/75/100m of good mineralisation. The market needed a correction as the price has been over-cooked over the last few days.

If the drill goes as well as we all hope it will ( I am looking for 1,500m+ total depth! with 50% additional length and breadth added by drills 2 and 3) and both gold and copper grades prove to be good, then we can realistically expect the SP to be between 20p and 30p IMO, add Manica into the mix and if all goes according to plan there then perhaps an additional 10p-15p onto the SP.- So, best case, I think we are looking at 45p a period of 6-12 months.

If the SP continued to double each day we would already be at 45p by Friday and that is clearly a nonsense. The market needs to find a way of adding an average of about 2p a week to the SP so that it realistically reflects what is happening within the company projects - of course there will be some spikes and corrections along the way as really good news tends to come in fits and starts - but a anybody that expects the SP to continue in the same vein as the last few days is simply being unrealistic.

Hello JDAU,

In addition to the other really useful information offered - I will throw my hat into the ring and say that I think that our Glenover Project could well be a bit of a wildcard with a possible sale agreed in Q1 this year:

The Glenover Project has attracted some interest for both
its rare-earth and phosphate potential. In some cases, the
interest co-joined the commodities. One company in
particular has shown interest in the overall Glenover Project,
but requires comprehensive test work to decide which or
any development plan it elects to progress. We continue to
assist with test work and the provision of samples, large
and small, where necessary. This test work is likely to
continue for the remainder of this year and into early next
year.
- This was written last month, so is referring to completion of the test work any time now...

The production costs come out of the 97% they are left with after paying us 3% of the copper value - as the mining is relatively easy and also cheap, that increases the percentage they would be willing to pay - so we may even get 3.5% or 4% depending on the results of a DFS.

Hello JDAU,

Welcome!

Read my post addressed to you on the XTR board.

Hello JDAU,

Must admit I have sold some of my 'play' shares - I keep about 10% of my holding in a trading account and have taken profit on about half of them - so I still have over 95% of my original holding.

I put the proceeds (about £60K) into GLR as I think that has a long way to go and whilst I believe my investment here will 4 or 5 bag in the coming months I think that GLR will perform much better in the short term - we shall see!

ATB

Fortunately they jumped the gun before the current rise started - the trade was on January 12th - so they will only have got about 2.5p for their shares - couldn't happen to a nicer company!

I wouldn't be surprised to get another TR1 from them over the next few days as they will almost certainly have been selling into the current rise - but I don't think many will miss them once they're gone...

Result is so staggering we are getting a Porphyry Expert in...

Onwards to 1.200m - nobody knows where it will end...

New interview out - Sweet!

Hello JDAU, I don't think anybody would begrudge you a bit of profit - after all, you did give fair warning - LOL.

Agreed Dibs - and if we reach a milestone 1,000m of continuous mineralisation tomorrow ( very likely IMO) then a lot of serious players will sit up and take notice - then the traders will have very little effect on the SP...

Difficult to spend much time with AIM stocks without encountering 'sell on news' traders - let them have their profit and the SP will start to recover soon enough...

Considering we hoit 9p yesterday after the RNS and interview, a good RNS today - hopefully with some more specific indication of grades should take us past yesterday's high.

With daily updates this could be a trading share for the next few days - buying in the morning after the 10%, 20% or whatever sellers have finished allowing for purchases in the 7s, 8s and 9s and then selling into the rise after the daily RNS/interview.

I don't have the time or inclination to do it myself, but I can see the attraction for those that do.

For my part, I am hoping we make small overall incremental gains that are sustainable, based on results and other news. I have no doubt that we will be well into double figures soon enough and once the drilling programme is complete and Manica is up and running we will all be in a situation to take a view for a considered exit strategy, if that is what we want.
Again, for myself, I would be happy if we could get paid a small annual dividend out of Manica profits and then a special dividend when Bushranger/ Footrot is sold - that would be worth hanging around for IMO but each to their own...

I agree Davey,

I remember when I topped up before Christmas at about 1.2p some posters here thought iIhad got the timing wrong, but that I would be OK in the long term - well looks like the timing may have been right after all. This may be a bit of a slow burner for some people, but once the rise starts then it will have legs and double figures are more than likely - but not tomorrow!

The deferred shares have no value, they were simply a device to balance the consolidation, best to just forget about them.