Member Info for copperman

Good spot news. GGP fully funded and no need to raise money any time soon.

GGP had £3.6m of cash in the bank at the end of June 2018. They part funded drilling costs for Havieron through issuing shares to the driller. This current drilling campaign of 10 holes is fully funded.

Also, there are about 500m warrants and options in issue that will be in the money if the share price hits 2p+. In particular, 212m options exercisable at 2.0p per share, expire August 2019. This will raise another £4.2m.

So no need for GGP to raise money in the short term in my opinion.

The market makers are loading up in advance of AGM / next news release

I think Greatland will be flying the flag and promoting heavily around the AGM. It's also Mines and Money this week, so lots of investors in town.

On hole 6, I think the point is not so much about grade but more about size of the Havieron gold deposit. We already know there is high grade, we just need proof of size.

I bought again @ 1.81 on the open. I'm still a buyer sub 2p. Trying to find more cash so I can max out this week sub 2p - although I think we will pass 2p soon.... :)

I obviously haven't included any value for a new discovery at Black Hills.... This could be worth a tidy sum too....
Basically I see very little downside risk here apart from the market makers who will game the stock intraday to fill orders.

£300m divided by the FULLY DILUTED shares outstanding (ie. assume the share price trades up to 3p+ on the back of hole 6 drill result and all warrants and options are are exercised). This gives £300m / 3226m shares = 9.3p.

In other words, my target price for this stock in Q1 2019 is 9p vs. 1.8p today - 5x upside.

I'm very comfortable with this price target.

I also think we are sitting on 10m oz of gold... That's worth at least £300m market cap vs. the £60m where we are today.

I see a few punters are hoping for a RNS on Monday re. hole 6. I think we will only see this the first week December.

Takes time for the lab to process assays. Drilling is also going to be slower than expected if they are drilling deeper and the summer heat slows the drilling crews down. The Proactive interview said they will drill until early December. I'm hoping for at least 5 / 10 holes completed this side of Christmas.

I'm very bullish Havieron. A great new discovery. But it needs to be drilled out to prove its worth... Good luck to the long term holders!

AGM on Tuesday 4 December 2018 at 9.30am

https://www.riotinto.com/documents/181002_Arnaud_Soirat_US_roadshow.pdf

Have a read of this recent presentation from Rio Tinto. Explains very clearly the investment case for copper. We are going into a period where there will be a copper shortage, If ARCM can prove up a large resource, I am convinced they will eventually be bought out.

Interesting news release this morning. Doing some airborne surveys to find copper. Very sensible. Looks like we can expect JVs with ‘mining companies’ very soon.... Good stuff.

Petro, I think you have too much time on your hands. If you are bored let me know and I’ll give you a couple of my TSX listed stock to play with. :)

Agree Monkeymoo, I think we may have just passed the bottom the market given the rally in China overnight. Copper is also trading up. I think we will start to see ARCM share price recovery.

ARCM probably using the RC drill rig to go North as it is cheaper than diamond drilling, and they will likely be drilling much deeper so it will also take longer to get results. I still think extensions North are critical for the resource size (and share price) to progress rapidly upwards. Hopefully we will get another exploration update next week.

Typo is my last post. Should read 78.75mt x 0.8% = 630,000 Cu eq.

I'm upgrading my estimate of contained copper at Kabala. I think we are now probably in the region of 600kt to 700kt of contained copper equivalent (up from 400kt to 500kt). If the strike length is now 750m vs. 500m as we are now finding mineralisation going West, then this is a major extension and resource upgrade.

600m x 750m x 70m (avg. depth), density 2.5t / cubic metre (SP Angel's estimate), so 31.5m cubic metres x 2.5 = 78mt. Assuming an average grade of 0.8% Cu eq. (a rough guess as we have higher grade zones), so we have 52.5mt x 0.8% = 630,000 Cu eq. (contained).

Still waiting to see if we go extend the strike down dip to "several km" as previously alluded to by NvS...

Good stuff and now we know there is mineralisation to the West. Resource continues to grow in size. I'm busy with some TSX listed investments at the mo, but when I'm done I plan to top up my ARCM holding in a very big way. :)

So how do we create buying pressure?!

Bloodshot, you won't need to wait 2 to 5 years. The market can move quickly as I have seen many times in the past (up and down) and I am confident ARCM will be subject to some serious buying interest in the not too distant future.