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Bringing a resource into production is fraught with risk. My timescales are much shorter prove enough to get a major involved with minimal dilution.
Thanks Ageos. In your opinion how deep would a major go actually mine this type of ore body?
Thanks MasterRSI (and DNP btw) - I find your commentary around the MM's good - as I don't have access or even the time
Copper is heavier, so it probably will be deeper in the system.
I think bunny is right in terms of focusing on Pitfield and not get distracted by the other projects. I don’t want to shareholders money being spent on the other projects because the market just won’t attribute value to them. Pitfield is a company maker and although I had a small stake in Empire metals prior to May, I significantly increased following the 11th of July RNS as this is significantly the de- risk the project as Bunny made it clear the minerals were in a hugely economic form. Prior to the 11th July they just found titanium, but with no confirmation of how or what these can be worth. It is clear to me now.
In terms of my prediction for the share price, I have no idea in the short term but I think the results of the second RC campaign could be significant and I would've hoped at least we can get to 10 to 12p or 50 mil (ish) market cap before we need another raise going into next year!
The recent gravity survey also highlighted discrete high dense zones and empire have previously stated that they think the copper came in later to the system and would most likely be found in discreet and separate areas of the system. There is no doubt in my mind that the bigger RC drilling campaign due later this year will be targeting copper as well as the sweet spot of the titanium. The RNS isn't detailed enough for me to understand where all these discreet gravity areas are, but it is mentioned. I am also in no doubt that this resource will be hundreds of millions of dollars in value. I'm just hoping that we can minimise dilution to the share price while we quantify what we've got, or even better a major coming on board to fund the exploration. Any softening in the share price it's just an opportunity to buy. The way to win in the AIM market is to buy when nobody else is buying and to sell when the herd arrives and stays like GGP. That's what I'm going to be doing. Good luck all
Early days to be talking about what they’re gonna do with the resource - literally they’ve just put a few holes in hence why the market cap is only £23 mil. It’s so massive, they just need to start quantifying what they’ve got.
Great opportunity for a top up . I got a chunk at 4.65p . I can’t wait for them to get back to drilling!
Copper is twice as dense as titanium. That’s why these highly dense new zones could be copper. Pure speculation of course, but it was mentioned in the latest RNS
The gravity survey could highlight the district scale discovery on a huge scale. the titanium is close to the surface, high grade, easily extractable in soft rocks. T1 jurisdiction not too far from infrastructure. This is just waiting for major to come on board. Most of the aim stocks are rubbish a few have prospects. Good luck all, exciting times ahead.
I think it will be the results of the gravity survey highlighting where the titanium is and targets for other metals, copper all positive. Can’t believe it’s still only worth 20 mil could easily be worth 30/40 mill on next update.Egg
EEE have a 70% stake in outfield. What’s the situation with the remaining 30%? Anyone know - thanks
I like your commentary DNP . a shortage of shares is good news.
We knew it was district scale, significant grades, soft rocks and in the right jurisdiction The latest update confirming the economic value of the minerals has significantly de-risked now. Glad to have got in early but now Stake building. I don’t really care about the odd fluctuations now. This is going to be one of the most desirable projects for a major and should be worth hundreds of millions, once it can be better quantified, but could be worth £40-60m on speculative value quite soon, given how hot EEE is now and the attention it is getting. We now just got to trust bunny and co to get the best value for us over the coming years. This is the biggest risk now in my eyes.
Sorry for off topic, but I often pick up tips from other posters, so I believe there is another gem in FRG. . I won’t say anymore DYOR!
I buy AIM shares when they are well out of favour and this one fits the bill. Only way to make money on the AIM. It will need a fund raise at some point, so I have kept some cash back to top up - but happy with entry price / market cap