Member Info for dvharrison

Ah, the good old days! Apart from Unit Trusts I hadn't invested in individual companies at all until the 'crash'. My first three were Barratt's (39p) & Taylor Wimpey (11p) as we always need new houses and Johnson's (dry cleaners at 4.5p) as my friend was a Regional Manager. Thought the 'game' was easy; how wrong I was! Thought we had now weathered the worst of the small cap mining downturn but may be wrong. Over weight here and ccz and never expected to be buying at current levels in either. Assays are next key news which will determine short/medium term direction imo.....

Wait until the BoD tell us that the magnetite, which is a finite resource, is depleted and we have no regular income. Wonder how easy it might be to secure $10m AUS to get LCCM into production (let alone fund the development of Redmoor!). Don't forget that the previous owners of LCCM failed to get it into production and our BoD is also pretty inept....

MrT, our most prolific poster is not even a shareholder! Empty life lol....

MP, I don't think 'market' expectations are very high of the Big One drilling results looking at the current state of the share price...

Hopefully a good week ahead......

14 Sept RNS: 'Castillo's geology team, having liaised with the laboratory, now expect to have all assays and key interpretation work for the Big One Deposit available by next week'

Less than £3m mcap provides plenty of scope for a significant rise in the share price imo. Putting the gold assets to one side (inishowen looks very promising!) there is tremendous potential at Stonepark (Teeling describes as the 'jewel in the crown').
Back in Dec 2020 Gino posted the following figures to demonstrate the potential of a buy out by Group 11/ Glencore if further drilling expanded an already significant zinc resource. The figures may need updating but they illustrate the point imo;

Current 5MT resource @ lets say 8% zinc is around 400000T and 2.5% of Lead is 125000T

We own 24% For round numbers, say 100000T and 30000T respectively.

Lets say :
$2700 p/T = $270M or £200M for zinc
$1900p/T = $57M or £43M for lead

If we assume 50% of removable (id suggest thats bare minimum) thats £120M

Minus 30% costs and tax thats £80M against a £4M MCap

Minumum asset sale for the above £30M imo

MULTI-BAGGER........ No b.s. Just math

I will be eagerly awaiting the Stonepark RNS, expected within the 'next 10-14 days', as any increase in the value of the zinc/lead is bound to attract buyout interest in our 23% imo...

Bought over 1m shares this morning to back up my confidence in Stonepark transforming the company and the share price (as Teeling said, 'the jewel in the crown'!)

On further reflection the development of Stonepark is key here for me. We 'know' we have a substantial asset (RNS extract below), my concern was that its development didn't feature in the short term plans of the majority partner Group 11. Now if we are to do further drilling and they enhance the resource then a takeover by G11/Glencore comes back on to the agenda. Mcap of £2m would then be blown out of the water. RNS due 10/14 days time!

· Stonepark MRE totals 5.1 million tonnes grading 8.7% zinc and 2.6% lead (11.3% combined) in the Inferred Category, located approximately one kilometre west of the Pallas Green zinc-lead deposit, with inferred resources of 45.4 million tonnes of 7% Zinc and 1% Lead.

Disappointing that planned work at Inishowen, planned for September, is to be deferred until next year. Will be interesting to see what is planned at Stonepark.

Clive, if I had been around on the release of the RNS I WOULD have sold my remaining shareholding! I'm on a free carry and intend to sell on the Inishowen spike in share price (or add if it turns out to be a valuable asset....and looking at the previous RNS it just might!)

smellyben, didn't regret selling the remaining (50k) shares in eua at all. In fact bought them back today sub 27p (sold at 34p) as I expected the share price to retrace (wild swings happen all the time on AIM) having risen sharply over a few days. The shares I bought with the sale proceeds here and in ecr have barely moved so it wasn't a complete success! lol Still confident (maybe hopeful!) that Harry will get the finance sorted that will see the SP re rate here....

Any particular month/year in mind?

Taxman1, I don't know about a slow puncture, I think the following might be more apt lol

https://www.youtube.com/watch?v=r1pFTSQfmhU

*Drilling underway at Central Menzies (RNS 9 Sept 21: 'Commencement of a drill programme of 26 RC holes for a total of 2,140 metres at the Central Menzies Gold Project, targeting two prospects, both of which are along strike from the Yunndaga deposit (Figure 1), historically the largest gold mine in the Menzies field with over 270,000oz produced')

*Progressing development of Eclipse (RNS 15 Sept 21: 'It is now evident that the mineralised system at Eclipse is much larger than originally thought.')

*Recent appointment of 2 well qualified & experienced personnel to join the Exploration Team

*BoD share purchases in August

*Money in the bank from the sale of Georgian assets

*Mcap only £6M (and only 337M shares in issue)!

#bargainprice

'Cancellation is expected to occur on 7 October 2021.'!

Clive, the macp is low for good reason imo. Mine River is never going to be a commercial proposition (imo) and the company is dependent on Group 11, the SENIOR partner, on progressing the Stonepark project (unlikely to be seen as a their priority given the last results (RNS 26 Jan 21). The main (and only?) hope of a decent and sustainable increase in the share price is Inishowen and we haven't even started drilling yet!!
I'm sure those that were willing to pay 1.25p and over after the last RNS are wishing they knew more about the company and its projects before jumping in.....

The earlier suggestion from some that Eclipse was going to be put on the back burner in favour of central Menzies seem far of the mark on today's RNS. I think we have a slow burner here, but with long term prospects to make a decent return imo. Added a few more to bring my average a bit closer to today's SP....

bitcoin, I think this is more apt......

https://www.youtube.com/watch?v=RzPeHdPeL-c

May turn out to be a blessing to have been able to buy shares at these (depressed) levels (last placing at 2.3p with warrants at 4.4p). I certainly hadn't originally intended to have built such a large shareholding in this company even though I believed they owned some attractive assets. We'll soon see...