Member Info for DazzerG

Whilst I have been providing balanced views and chat updates this week ( having been burnt twice before ) - I’m actually beginning to get excited for my share portfolio with FCM.

The activity and comms to date by FCM has been very good - and professional.

Other companies would do well to look and learn from FCM.

I personally believe the next 2-6 weeks are going to be the important timeline for FCM - and shareholders.

I’m in a quandary now - do I stick with my current volume of shares - or buy more…. Decisions decisions…!

Good luck everyone…

Whilst there is some small degree of positivity about today’s RNS….

If this RNS is simply another equity issue connected to prior financing arrangements, I would classify it as neutral to mildly negative for the share price in the short term because of dilution. I.e. it means us shareholders now hold a slightly smaller percentage overall…

What caught my eye……

The strongest sentence is:

“The Company believes the transaction, once completed, would represent a significant milestone…”

Companies are usually quite careful with wording.

They could simply have said they were progressing discussions.

Instead, they are describing it as a “significant milestone” and saying only legal and completion mechanics remain.

That suggests management is reasonably confident the deal will complete.

The rest as a Positive and Negative for balance:

Positive: FCM says it is close to completing a significant asset monetisation deal, with commercial terms agreed and only legal and completion steps remaining. The deal could provide substantial cash without issuing new shares, reducing dilution for existing shareholders. Management’s language suggests confidence that completion is near.

Negative: The deal is not yet signed or completed, so there remains a risk it could be delayed or fall through. FCM has not disclosed the asset involved, the amount of money to be received, or the final terms, making it difficult to assess the true value and long-term impact for shareholders.

Positive: FCM has secured an 80% stake in Zigzag, removing ownership uncertainty and giving it control of a project with encouraging historical lithium grades and potential exposure to other critical minerals. The move advances the project towards metallurgical testing and future development.

Negative: The RNS contains no new drilling results, resource estimate, or economic assessment. Completion of the earn-in was largely expected, so much of the news may already be reflected in the share price. Zigzag remains an early-stage exploration asset requiring substantial further work before its commercial value can be determined.

Overall, the announcements appear more positive than negative for shareholders in the short term.

The main positive is the strong gold drill results at the Roy/Sunbeam project, including very high-grade (“bonanza”) gold intercepts, which suggest the exploration ground could contain a meaningful gold system.

The negatives are that First Class Metals is still an early-stage explorer with no proven commercial resource yet, and historically it has relied on share issues/conversions for funding, which can again dilute shareholder volumes and value.

So: operationally positive, financially still higher risk/speculative.

This is looking VERY positive….

Do you think a few people might be in the know (wink wink / nudge nudge) - and have already been made aware of some very good news - and there has been a subtle bit of leakage..!

Onwards and upwards… (my wife might even get a new dress yet)… 🤞

I hate to say this and hope I’m proven wrong - but this is not looking good.

At the rate of continued SP negativity - we will end up back at a share price, when it was pre-consolidation pricing.

Trying to decide if I run and cut my losses now.. 😢

Whilst the RNS last week was very positive - it was only a result based on a very small area of coverage.

So the question then should be - what would push it up sustainably.

For FCM, the share price usually needs:

* Wider intercepts (not just high grade)

* Repetition of results across multiple holes

* Evidence of scale + continuity

* Or a strategic partner / takeover interest

If it has any of the above - then we can expect the share price to jump exponentially.

So as expected - sadly - the market as typically reacted very negatively to this latest awful RNS.

Currently down nearly 10%…. Circa 28p a share.

I can remember the heady days of consolidation and the sp was £1.30. Oh to dream of that price again… I’d be sold and gone quicker than Usain Bolt..!!!

@BigW

Your ramping is going to have to spectacularly improve.., !!!

It’s been awful to date.. 🤡

Still laughing at your previous £1 comment.

Wishbone Gold raised ~£1.1m by issuing new shares to institutional investors. In short - despite the usual BS by the BoD of Wishbone - they once again need more money. Surprise surprise..!!!

Any Positives - strengthens cash position and funds continued drilling at Red Setter, keeping exploration momentum going and signalling some institutional backing.

Any Negative: dilutes existing shareholders and was likely done at a discount, which can weigh on the share price. No new drilling results or discovery announced.

In short - Wishbone BoD need even more funding to progress the project, but value depends entirely on upcoming drill results.

Until there is a proven discovery with good assay results - the PI’s will continue to be treated as cash cows and the shares further diluted - and the share price will rapidly drop to a price similar to pre consolidation…

Based on the latest RNS - from what I can see, it summarises as follows:

Wishbone Gold has paid £100k for an option to explore a new silver project in Western Australia — not to fully buy it yet.

In simple terms: they’ve secured the right to investigate the land before deciding if it’s worth committing more money.

Positive: low-cost entry, potential high-grade silver, and cheap-to-test geology.

Negative: very early-stage, based on old data, and could dilute shares later.

If it were proven valuable, it likely wouldn’t be so cheap — the current owner probably sees it as non-core or too risky.

Overall: slightly positive, but highly speculative — the real value depends on future drilling results.

… so far my earlier pattern response was an incorrect judgement - thank goodness..!

For those that regularly monitor the Wishbone share price and the markets - I’ve noticed a previous pattern that the share price will rise on the first working day of the week - then the price will drop from the second working day onwards.

With the UK celebrating Easter this weekend just gone and it being Bank Holiday Monday - yesterday was therefore first working day of the week.

I hope I am wrong, I really do, but I’m expecting a volume of profit taking today and hence the share price will drop - possibly even double digit percentage drop.

I REALLY hope I’m wrong though.

If the share price continues dropping at its current rate of decline - unbelievably we will be back at the pre consolidation share price… !! How on earth can this be seen as an investable or trustworthy company going forward for either current investors or potential new investors.

I’ll keep saying what I see - completely untrustworthy BoD..

The downside here - and is a pretty much standard pattern for these activities - is that there will soon be too many shares in play and eventually this organisation will then look to a share consolidation.

What then looks like a share price increase initially - means the share price then starts to fall (again) - and current investors will significantly lose out.

Only new investors will then benefit - for the short term - and the vicious circle starts all over again.

The Wishbone BoD appear to have potentially been acting in an unsafe business way.

They I believe already knew the results from the testing for assay - and hence then went down the share consolidation route to cover their future backsides.

This means at a later date - screw the shareholders - and the BoD will carry out another raise, which will further dilute the share price.

… then the vicious circle will start again. Current shareholders lose a lot of money - new shareholders come in, then they lose a lot of money.

If only ( if is a big word) I had sold my shares on day 1 of the last consolidation. As such I am stuck now with a dog of a share worth a pittance.

I took the risk that this could happen - but the same has happened to all of us.

Poulden and the BoD need to a) be investigated, and/or b) resign.

Afternoon fellow Wishbone investors.

Like many have observed, there really is some vermin on here - still trying to ramp this car crash of a company.

Have lessons not been learnt. In short, we have all been badly burnt by Poulden and Lenigas and the Wishbone board.

To my fellow investors who have been burnt - and really pi**ed off with the rampers (aka rats) - shall we agree if a ramper ramps Wishbone more than 3 times - we collectively each agree to filter them.

Just a thought as that might bring some small degree of satisfaction.

Morning fellow investors.

Based on the Monday RNS from Wishbone , it does seem that Wishbone, their RNS’s and the BoD in general, probably cannot be trusted.

Lesson 1 for me - don’t trust all Wishbone RNS announcements.

However, that then led me to think - hold on, what about the so called geologists and the searches they were carrying out. As you will recall - the breccias being announced back last year were supposedly very positive.

So, I did a bit more research to see if there was any potential light at the end of this current dark tunnel. That led me to the following:

Wishbone Gold’s geology lead is Apex Geoscience Consultants, supported by Expert Geophysics Limited and Southern Geoscience.

Reputation: Solid, experienced, but mid-tier—not top global level.

Why results look weak:

• Red Setter Project is deep, complex, and high-risk

• Targets are geophysics-based (indirect)

• Mineralisation found, but not yet economic

• Lean contractor model may slow progress

Bottom line:

The team is competent; the challenge is the difficult, early-stage project, not necessarily poor geology work.

Afternoon fellow Wishbone shareholders.

After watching the continuing collapse of the Wishbone share price - I personally believe this proves the BoD are out of their depth.

They need to consider their positions on the board now. Either resign or look to be removed.

Any major investors, please can you use your influence to seek removal of certain BOD members.

Thank you.