Member Info for CHRI5P

A SP of 4p illustrates all these risks and another one noted by CB on a podcast he did yesterday that a partner can slow the project down or just pull out leaving you with nothing. However, for that is all in the price but if we get a deal that demonstrates that this is funded until the DFS then a 5 bagger is well on the cards. New op's will hopefully help this cause.

If a PFS is completed by Nov 2023 then we will be applying for a mining licence for the DFS not an exploration one.

CB basically said that in the email to Oiltap

I agree with your analysis Shed.
I am going to say something outrageous and I know BB will have their say, anyway I think we will give up 60% of the mine for the partner to get it to DFS stage. Yes we will lose control but this exploration mine will be worth £50 million by this confirmation because it will give the confidence required. We will be worth £20, million or 25p a share. All we need is a partner to get it to DFS.

I read the post with the email and it came across a little bit too friendly and it might have been suggested that Oiltap was in a position of insider knowledge. However, I just think it was what it was a copy of a frustrated CB email in which he could not believe why the SP was so low and replied to 0iltap. I suggest that if anyone does receive emails they just watch what they post. Oiltap if you are watching come back and grace your presence here again.

I will also say that getting to the PFS does take a lot of time. I read somewhere it takes 7 years on average from the first stage of announcing the inferred data (SP spikes) until you get a PFS.

Shed, BB
You don't need a PFS to sell the mine or part of it to a partner just look at GGP and many other miners. However, it will help your cause and without a PFS you can't progress the exploration on your own to a full mining license and the DFS without it.

I agree BrickSA that from what I have seen a feasibility study or definitive feasibility study (DFS) defines what is going to happen and this is when the big funding is required to not only build the mine but also start extracting the resources to start the revenue coming through. However, and this is what is subjective and that is how definitive Myles and LR have been planning the PFS would be and I suspect there are minimum inclusions for one. This might be where Myles is coming from.

I am no expert on PFS but to me it is an indication a mine is worthwhile going forward whilst the DFS/BFS is about raising the money to make it happen and measured resources. However, 'the geotechnical drilling' would suggest that there is not much of the technical data left to do for the PFS and possibly a mining license rather than an exploration one. The PFS is not the final stage and to me we will need quite a bit of funding to get to the really big raise for the construction and initial mining costs i.e. the DFS/BFS stage. A partner would be required and the drilling we are doing now can only enhance our position.
The thing holding the SP back is the belief that this will happen and so the partner is key and I suspect negotiations are ongoing and that is what I am looking for but for now the resource updates might give the SP a bit of life.

The holes for the extraction plant might be for the PFS!

The open is where it was Friday because 3.75p was not the real close. I have noticed this happen many times on many AIM shares where a small sell or buy at 4:35 changes the end of the day price when the real price is the middle of the bid 3.5 to the offer 4.5p.

3.75p not 3.5p

MM if nothing changes over the weekend then we will start at 4p. That is bid 3,5 and buy 4.5. The trade at 4:35 for 3.5p is not the real close.

I read the post Oiltap and thank you and I hope you are back soon.

Up 6.7% come on EUZ

Hopefully the weak hands have now sold out and we can get back to the placing price of 6p. Remember DBA and go bought a lot at 6p and the price of the resources have only gone higher so I would have thought 6p in the short term is well achievable.

The shares are on the move up 4%

CB must be extremely confident that the money is coming through and he needs to make sure we buy while the exploration mines are on offer. CB is sowing the seeds for GLR to be a midsized mining company which means a huge rerate will happen one day.

Jamesmaggs sory yes your right a reduction that is quite a position to have if are going to liquidate it. However, Forced sellers do bring opportunities.

There is a simple answer to the high valuation - see RNS I think Thursday City of investment trust has taken a 23% stake which is actually only 1% of their total asset value.