Member Info for daniscp1906

Yes they have invested money and collected huge salaries/bonuses in the meantime for not delivering much imo.

The drill results to date are to say they are not economic. Like any project out there, its 1 hole away from a discovery. But from a capital allocation point, I query if that's the right use of shareholder funds given results to date. The licenses expire in September 2026, so the reality is that Mgmt probably need to demonstrate activity in the license to get those renewed.

Are these guys serious? Raising money at multi year lows to go and drill a project that likely has no value? Just look at the past drill results there, <10 metre intercepts with some at depth. If these guys had any decency they would sell the company (the Zambia licenses have value if explored/managed properly) and end existing shareholders misery. Most would still make a loss but it will get a lot worse. Arc Minerals was my first investment in mining about 2 years ago. In some ways I’m thankful, it taught me that the majority of mining companies are run by crooks.

Unfortunately I can even go one step further. Arc sold Sturec and Casa to buy the Zambia/Bots licenses.

Sturec, owned by single asset company, Metals Tech - Mkt Cap £58m AUD or £30m GBP

Casa, owned by single asset company, Avanti Gold - Mkt Cap $108m CAD or £58m GBP

Total Mkt Cap £88m now

Arc Minerals Market Cap now £10m

Don't need to wonder. Sturec is held by a single asset company listed in the ASX, Metals Tech Limited. The Mkt Cap is $58m AUD or £30m.

Why is this management team still in place? They need to get sacked asap. Absolutely unforgivable for the share price to be where it is.

Almost £30m money raised in last 10 years, Market Cap sitting at £6m. This at a time where we have a mining bull market.

Have they bought any shares recently?

Yes two more sales of 11.9m shares each today. So we now have 13.6% stake sold in the market in the last 2 weeks, and I bet there will be no AIM disclosure on who the buyer is.

So over the last 7 days we have seen 3 trades:

Two for 11.9m (3% stake) each and One for 6.5m (1.6% stake). So a total stake of 7.6% probably all going to the same party yet no RNS so in breach of AIM rules. But a fine for failing to disclose is worth it to hide identity....

Cracking deal. The reality is that East Star’s share price is only rewarding the company for Verkhuba, and even that not fairly. So this deal is extra on that. And probably worth $10m+. So share price should open well over 3p imo

They bought the 10% block a few years ago from M&G. To buy a 10% stake in a microcap and be passive to date I suspect they would have had close interaction with Management back then. Would be surprising to see Management go this route knowing that 10% shareholder could oppose them.

I asked Grok who the ultimate owner of Prana GP Limited is and it came with the answer below:

Peregrine Cust owns and controls Prana GP Limited, the entity investing in OPG Power Ventures Plc (holding about 10% of shares) and Besra Gold Inc. (as a beneficial owner of securities). Prana GP Limited, incorporated in Jersey in January 2024, acts as a holding company for these investments and is linked to Cust through his role as founder of Prana Capital, a hedge fund he established around 2010. Official records show Ocorian Trustees (Jersey) Limited as the registered controller via a trust, but Cust is the ultimate beneficial owner, as indicated in shareholder actions and legal filings against Besra Gold.

Think Talisman has consolidated its shares into Prana. So Prana holds 40m now per OPGs website.

They are also linked with an activist campaign against Besra Gold, there may be more information on who is behind it in the files in relation to that case

I got a response from AIM by the way (not sure others have got the same). But basically told me they will keep an eye on it blabla but at the end of the day its going to an AGM vote so up to shareholders to vote against. Washing their hands off...

If the two block trades from yesterday totalling 23.8m went to their associates as well then they would be up to 67.5%.

I've signed the form as well. Will be hard, they have at least 61.5% on their side (the Gupta Family + Directors stake of 51.5% + Prana GP with 10%).

Solaris Resources trades at ~£900m for a less advanced project, worse copper and gold grades, lower Cu and Gold recovered, same jurisdiction, local environmental opposition etc. Only advantage is that its fully open pit but Tandayama is changing that for SolGold. Market is asleep on SolGold because its economic study has very conservative price assumptions. Solaris released a PFS last week with Copper at $4.50 and Gold at $2,500. SolGold's published PFS is using Copper at $3.85 and Gold at $1,750.

They replied to me saying they are not in "charge" of OPG and to send an email to AIM instead.

In classic fashion, no announcement because its good news. 160MW, 5 Year PPA Signed with Government at R 5.4 per KWh

Article from India News yesterday:

"To meet the rising electricity demand, the Tamil Nadu Power Distribution Corporation Limited (TNPDCL) has entered into Power Purchase Agreements (PPAs) with 11 power companies to procure a total of 1,580MW of electricity. [...]160MW from OPG Power Generation [...] have also won bids"

I have yes

Well done, great letter.

Yes fair enough. Although look at the comments here when they made that weird announcement on tax treatment of coal . Really poor communication for years but very proactive releasing an RNS about a super detailed tax treatment of coal that supposedly was going to erode margins. Looked like a fishy announcement to drop the share price then, which it did sucesfully (from 7.2p the day before to 5.9p that day, an 18% drop). Now it all makes sense