Member Info for Chuteless

We're now over 2 months into Due diligence on FCM property as per RNS June, maybe news soon as a similar sale last year, 79th group took just over 2 months from announcement to the purchase of McKellar & Enable properties.

I was thinking about that today and based on recent presentation (29th March) I don't think so, he clearly stated he wasn't coming to market to look for cash as we had been frugal and had enough for now. I'm more thinking sale or JV as he hinted something was ongoing that he couldn't say anymore on the subject, also strange that drill approval was given on 8th April and they wanted to quickly drill but obviously nothing so far, maybe nothing just no drills available for now.

fingers crossed something comes out soon as they still say production late 26/early 27

From 11th Feb

"As our proposed drill holes are in-fill holes only, the process of approval is expected to be faster than a new application."

Obviously the brown envelops were not filled enough ;)

Plateau Results out so expect RNS this morning.

“Drilling is now complete at Plateau. The results from the 600m Resource infill drilling program at Plateau are in line with previous

results and will be used to inform an update to the Resource model. The drilling also provides select

metallurgical sample from hole 25PLRC006

At least Sunshine are cracking on,

from 10th June- Drilling is completed at the Salla Au-Cu-Zn and Plateau shallow Au targets, with results expected

in early July 2025.

Silver linings and all that,

Old deal (2nd part of 79th grp) was roughly 50 million shares for £840 K new deal 26 mil for £520K

Us shareholders more bang for buck and more importantly no one big player over 51%

Win, Win

For me, I'm expecting a placing soon, I think they've done well to hang off a raise for so long but IMHO will need something for this new drill campaign

Hmmm so what’s potentially in the ground won’t change the price but the source of funding is the be all to share value.

Despite all the shenanigins with79th Group we should expect data to start coming inbound from the winter works with Sunbeam lake sediments in the labs coming up to 2 months and N Hemlo 1 month. At least give us an idea of any future drill programmes.

With the right finance FCM could buy back the 79th investment from the administrators for half the original investment price.

My bad, financials not due till end June this year

Hopefully no messing around this year, I believe financials due by 30th April

"COLP do not smash the doors in on a whim and a punt, a lot of discovery work will have taken place."

looking at recent police actions I believe the opposite,

you could ask the mother detained for 7 hours for confiscating her children's iPAD. maybe not a whim and a punt but the same results

You say that but IMHO in the case of a liquidation (if it gets to that) the company may get first refusal on the shares from the administrators, considering we got paid 1.7p a share we could buy them back for say 0.9 which in essence means we would have raised nearly half the capital for nought , glass half full maybe but who knows stranger things have happened ;)

Which opens a question, do we think phase two of the deal will pass a vote now?

not sure it can even go ahead as I would assume 79th group finances/deal making will be on hold while investigations are completed??

Except they are not majority shareholder until phase two of the deal, 79th Group currently are 41% shareholders.

For info,

The 79th Group has issued a preliminary statement:

“Dear All,

Following the events of Thursday the 79th Group are working urgently with our lawyers to address issues raised by the investigation and will be responding to investors and agents in coming days.

“This matter will now be taken forward by our legal representatives. We as a business remain operational to service clients’ needs and will continue to do so until these issues are resolved.”

Looks like I’ve been answered , a date for Vote, 18th Feb

i was curious that it wasn’t asked when the deal would be done as until it is this will drift down as the market awaits , i did have a thought some neighbours have seen the deal and gone £2.1 m for 51% of all that ! “geology dept get your ****s down to that data room quick and see if it’s worth grabbing it for a few quid more”

oh what a bun fight would do to the sp

no internal information just pumping 😁

Unfortunately I think we’ll stagnate around that 1.7p now until they get on and close the deal. Then we’ll see what the market makes of it