Member Info for Dibs61

24 Oct-24 13:37:24 61.75 40,000 24.70k O

Big delayed sell trade printed from yesterday. Somebody wanted out in quantity. I wonder who that could’ve been? 😂🤔

Jolly - all due respect but I find it very difficult to believe you hold 100k here😉

Very unlike you

Someone had to say it? 🤷‍♂️😂

This was the reply:

The Vares Silver Project in Bosnia and Herzegovina, owned by Adriatic Metals, is notable for its high-grade silver and base metal resources, making it competitive with other prominent silver mines globally. Key characteristics that set it apart include:

1. High-Grade Deposit:

• The Vares Project has high grades not only in silver but also in zinc, lead, and other metals. This polymetallic profile is an advantage, as revenue can be generated from multiple metals, unlike mines that rely primarily on silver alone.

• Its silver grades are high compared to many large silver projects, which tend to be lower-grade. High-grade deposits can reduce production costs per ounce, improving profitability.

2. Size of Reserves and Production Potential:

• While smaller in absolute tonnage compared to major mines in countries like Mexico or Peru (top silver producers), the high-grade nature of Vares positions it as a potentially high-margin operation.

• Initial estimates for the mine’s annual production are approximately 7 million silver-equivalent ounces, which is substantial for a new operation. This production level is competitive, positioning Vares among mid-sized producers globally.

3. Operational Efficiency and Cost Competitiveness:

• Because of the high grades, Vares may achieve a lower all-in sustaining cost (AISC) per ounce, making it more resilient to fluctuations in silver prices. Lower costs and high grades can make it highly competitive with other mines of similar size or even larger, lower-grade mines.

In summary, the Vares Silver Mine stands out due to its high-grade polymetallic deposit, which could make it one of the more profitable mid-sized silver producers. Its efficiency, high grades, and production potential make it highly competitive in the global silver mining landscape.

A lot of nervousness out there. Very evident in SP movements. You get one or two sells and others quickly follow thinking it means something. Conversely we had not panic buying but something not far off it the other day because a lot of people are watching now, or at least enough people to affect the SP movement here, it being quite illiquid at times.

As I said before, nothing has changed since the RNS some 9/10:days ago.

I do agree that it will not be easy to buy in any bulk at all when the 1st contract RNS lands because that first one will be an absolutely pivotal moment. The price will be gapped up sharply before the market has even opened and the stampede will mean you will pay a lot more than the previous day close. You will just have to take your turn in the line.

Look at the current EV and you can see just how utterly transformational just one contract would be let alone multiple. This is truly multi multi bagger potential now.

Volume is decent today. Back to recent high. Was out all yesterday so missed the fun.

Interest is still there. This could be much more short-term than we’ve been used to!

Strongest production in almost five years combined with now record high gold price and silver price breaking out. A perfect storm.

Lyddon thanks it’s not a case of if but when here in terms of greater attention by investors. I prefer to be fully positioned before the herd arrives.

They already have a relationship with Harmony Gold biggest gold miner in SA through their Jelani JV with them. Plus Mark Creasey the legendary Australian gold discoverer is a major shareholder. Their Chairman is the ex boss of Aquarius Platinum.

I can’t think of any other better options if you are looking into investing into a junior gold explorer. Just check out their portfolio of assets

The trade below in red is a BUY @ 3.60. This one is very modest but I’m beginning to add more aggressively here as sooner or later this will rise up above the water along with everything else in the gold bull market. Not just that. this is a micro explorer but they have huge perspective tenements in SA. In the classic gold producing Witwatersrand region. One of the most famous globally.

In total, they also have JORC resources of just under 1m ozs already in both the USA and SA.

Fantastic Time to get in here in my humble opinion

22-Oct-24 14:50:39 3.60 8,218 295.85 O

Bilbo - I don’t entirely agree about the share price. Markets look forwards. They anticipate events. Drivers for significant share price appreciation could include FID’s. Contracts. Government investment and subsidies (budget next week). And just simply a change in market Sentiment. We saw what happened 2/3 years ago And that was simply about some market sentiment. It has nothing to do with cash positive.

I haven’t got a problem with that by the way I’ll happily have their shares😊👍🏻

Who on earth is selling this now at all time lows? Selling for a clear loss. Why? 🤷‍♂️😂crazy

10 ICB’s (if correct) is circa £20m revenue pa with a current MC £7m and EV £4m.

If it happens this could 10x from this level.

Just bought back in here @ 41.8p

Fall is plainly overdone. RSI on the floor @around 25, normally averages in the 40’s.

Oversold and not far above cash!

I think next weeks budget will be positive for ITM.

Nice delayed buy

21-Oct-24 14:02:50 48.75 33,027 16.10k O

Some good interest returning today. I wonder if there could more positive sentiment in advance of government plans for NHS. Reeves budget next week should reveal spending plans.

143k volume today which is decent and I can’t believe Jolly accounts for over a fifth of that🤣🤣🤣hilarious

Jolly Your buy just popped up as a delayed trade

21-Oct-24 13:33:14 47.77 16,000 7,643 O

Nope they have notified a reduction in costs since then. Cashburn is between £200k/£250k pm leaving as I stated approx £3m. Also you can check most recent financial results for reduction in losses. Don’t forget annual revenue circa £1m too

Read my last post. 🙄👇🏻

Al180 - agreed. Solid net positive update. I’m more than happy with that and cash break even at just over £5m is a phenomenal achievement. This basically means that we move into the new financial year trading cash positive. Leaving those losses behind. ;)

They are also diversifying into different areas spreading the risk and leaving us less exposed to the ups and downs of the oil and gas industry.

Just over £4m MC this is an absolute bargain imho going forward.