Member Info for Gallmat

I am not adding yet.
Hopefully it will drift down a bit more.
No rush to buy.

Cost pressure is a pain, but i am sure the whole industry is suffering. Steel, copper all at multiyear highs on EV demand and covid disruptions.

Value here is in landbank and planning expertese, so happy to take a small stake.

Reduction of debt is great. This should hopefully stop us getting in any tight spots.

Personally i think it is best to wait for update.
There seems to be no rush/volume to buy the stock before things are clarified; management could also easily kitchen sink all the bad news with new provisions.

Just my opinion

I missed it. Anything of note?.

If people want to see a summary on
. Iron ore
. Llmenite
. Vanadium

This is produced daily with commentary on companies. Just search sp angel morning view

https://www.proactiveinvestors.co.uk/companies/news/972366/today-s-market-view-aura-energy-anglo-asian-mining-anglo-american-platinum-and-more-972366.html

Could have been alot worse.
No doubt they are kitchen sinking any bad news.

Strangely happy with this given circumstances

We have a 20yr mine life.
Short term nickel price is great, but in reality it does little to our economics. We still have a 2yr build.

Probably best not paying a huge amount to nickel highs etc. In 20yrs all kinds of advances could be made.

I would imagine this will be coordinated with DFS.

These guys have been talking to simon thompson for 5 yrs, if he feels there is no issue and 50pct upside, this is classic tip style for him.

Also what fraud can he have committed on portfolio?
All investments are made by committee.
Amounts spent are controlled by finance.

So far rns said expenses. If there was fraud by law they need to state in RNS. Will lawyers make false legal statements? Especially when ceo is major holder

I have some hzm. So thanks for this.
Hopefully jan start producing soon and derisk everything

First week of feb is investors chronicle bargain basement annual tips.
Guven simon thompson, the author has a target price of 150, there is a chance it will be included

Honest question
What share do you see with bigger potential and less risk. I am looking to add positions

No leak.
Lots of mining companies are heading north.

If we executed dso, after a year of operation we might have over 10m usd cash. Surely at that time processing tio2 might be within our reach as a company. We would have equity component, producing asset and an offtake would be easy help bridge the gap.

So are we looking at something bigger than largo stage 1 ( concentration for mid 20m usd).

If the board have patience and guts to do dso, it does not seem like anyone has us over a barrel. If BOD can be patient

If their actions and plan seems uncertain, it is probably because we are waiting on a 3rd party and they are not therfore 100pct in control.

That is my read on it

Delay has been annoying bit i think time was not wasted.

We only had a trial mining license in jun/july. We could not proceed without license.

Also met tests in Aug ( just months ago)are prerequisite for offtake.

I am happy with update. Ilmenite (tio2) is in a bull run, rising from 200 ish pre covid to 380.

If we can capture this now ( and that is what offtaker wants) then this is great news.

Iron ore was always likely to come down but tio2 couls hold the gains

Agree.

My main point is that the investments already made should bring the book value nearly to market cap. You can worry about the future profits from reinvwating etc, but at this market cap future profits are valued near to 0.

Bit crazy given one guy leaves

I am sure there will be some.clarifications later. But looking at facts.

Market cap 95m
Last reported book value at xost 50m
Announced already 10m gbp profit on only 2 deals.
Probably circa 30to 40 pct of portfolio maturing in 12m from now.

There really is a scenario where current market cap could be close to book.value in 12m.

There is no comment about anything other than expenses, all investments are made by a commite which i believe ceo chairs. There is no reason to doubt investments todate.

Worst case in 12m this company might have 80m gbp in cash vs 95m market cap.

When events are clarified later this will rally.
Orr holding it will be close to book.value ib 12m

Thanks dcat.

I would be happy with this suggestion, even if it is to ask for better comms. I would also esidence my holdings, i assume others would do the same.

Regards

800gbp trade was mine