Member Info for HarChris

The Directors actually took accrued fees in shares not so long ago. Add the net placing proceeds and subtract the £250k cash paid to MTgold and Jangada balance sheet must be looking healthy.

If the share price can roam freely from here the 1p warrants will be exercised and that will shore up balance sheet further.

Well it explains how Jangada are so well funded, alognside the recent placing.

I see it as no bad thing, especially if there's still more shares to sell as and well is necessary.

News on production to swiftly follow this week or next? It feels close!

BRES + Gold going crazy and not stopping.

I do think when this 1p resistance finally breaks the sky's the limit.

Do they? I remember reading the first $4m of development costs is paid by Jangada. Seems a fair deal to me seeing as they are getting such a lucrative project in return at the height of gold euphoria.

If you're going to assume 350k ounces then it's going to be 50.1% ownership, they are going to take up the option for just £500k.

We're talking high grade here too, a 20k oz per year/17 year operation would have a NPV in the many hundreds of $m's.

If the gold backdrop and momentum is with Jangada and all goes to plan this could do multiples in a very short space of time.

Well perhaps it’s time to accept that you’re baffled because you don’t quite understand. Never pragmatic to think you know more about what’s going on than the ceo.

Healthy share price action in the lead up…

With this appointment we must all be feeling far more relaxed about the path ahead in Zambia going forward.

Soon the dust will settle and folk will realise that we are entering the business end of this JV phase 1 (drilling will massively ramp up) at 1p a share when brokers valued it at 6p a share sans drilling/discovery.

That's a hell of a good risk/reward.

The GMET stuff is stupid. The further rise is because of the investor that took the shares off POW... POW itself would not have suddenly realised more value if they had held on another couple of weeks, it was that transaction that opened the door to further appreciation.

POW sold GMET with these results very much in hand, they clearly are confident they are on to something here and want the GMET proceeds to fund it.

Each to their own but your analysis leaves out some rather crucial information.

FIrstly management seem confident that they will see an expansion to 350k ounces at Parataina. With the option to increase stake to 50.1%, a controlling stake, for just £500k that means if assay results in the coming weeks are positive we'll almost certainly see an mcap of at least £10m and that £500k will be min 5% dilution. To potentiall have a controlling stake in a 350k gold project. That ain't half bad!

They are funded for the next lot of exploration above but in their arsenal is their shares in BRES, a company that has an extremely good outlook. As it stands the holding is $1.5m but could easily see that increase and I would assume, alongside, JAN wil sell some shares to continue to fund operations.

I'd also keep an eye on the price of vanadium. Vanadium is just starting to look perkier and don't forget JAN still holds 100% interest in a Vanadium Project that showed almost $100m post tax NPV following the PEA conducted a few years back. With wind in vanadium's sale it's not more than possible to see this project sold for more than today's market cap if that's the route they go.

JAN is not a one trick pony however their primary focus right now is on a rather red hot favourite.

In answer to that specific question I first sold 60% and there wasn't the liquidity to sell the rest (no buyers) so I held off. Very soon after the gold price started taking off and with it almost all goldies have rallied hard. So far much more so than GRL but there's an increasing chance traders come and pump this (you're seeing it a bit on here) after they've pumped and dumped some other gold company successfully and have spare cash.

You are the one spreading wild misinformation about a simple $3m debt needing to be repaid at the end of the year. We’re talking more like $9m total debt maturing soon.

I very much appreciate your ability to hear opposing views without getting annoyed or lashing out, same goes for a few others like Izzy.

I hope I get my exit and you guys end up making money.

Good. It's not worth arguing with someone who has made up their mind and feigns earnestness to cast doubt over the future of a company.

If you were to learn any lesson perhaps it should be that Joint Venture's take time to play out in practice and so sell the hype into any signing of agreements in the future. And realise that a major who has three years to explore will do it in their own time and follow a timeline that's in their own interest, not the junior partner.

Buying at 6p when drilling was never going to start for at least 2 years maybe wasn't the smartest move. Buying at 1p when stage 1 should be all wrapped up in two years minimum would be much shrewder.

'In my opinion we are back to exactly where we were at the start of the year but with the POG higher and set to go even higher!'

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This is the problem! At the start of the year GRL had 12 months without major debt repayments to hunker down and produce enough gold to put the debt issues to bed. Now they have 4 months with recent commentary essentially confirming we aren't going to see a major uplift in production during that time either.

Now they have debt due far higher than mcap. Almost every single time I've ever seen this situation the company has ended up going into administration.

As for why I haven't sold up completely, well tbh I still think they might get a mini spike before a major dilutive event to help pay down the debt. If I can get out at .45p soon I'll sell the lot.

With all due respect Mattk6, that's rubbish what you've just said about Anglo.

If you really believed that was the case you wouldn't be on here feigning confusion over the lack of updates you'd be liquidating any shares you hold at 1p and moving on.

It's possible that Anglo are very much drilling right now (aerial shots showing activity) but given ARCMs legal issues aren't going to be reporting any such results until, for them (not Anglo) the legal wranglings are behind them.

You might not care about court cases but they are designed to stifle the JVs campaign in Zambia and to a degree that is the case, hence Anglo cares about court cases and what matters is what Anglo cares about not Mattk6 on LSE.

The September 10 date in the RNS should begin to draw a line "The inter partes hearing of the injunction application has now been scheduled for 10 September 2025, when the Company will have the opportunity to present all relevant facts and circumstances with the aim to secure ongoing injunctive relief after which the case can then proceed to the breach aspect of Arc's claim against MM and ZAMEX."

If like it seems Anglo are out in Zambia doing all the necessary preparation work and small scale drilling hopefully the legals can be all behind them soon with still time to drill hard into mid December.

‘ @chris what price did you sell and what was your average? Any regrets in selling - also what would it take for you to buy back in?’

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The reason for the sell off was the leaked info from the AGM which showed an unhappy house behind the scenes and that low pour being revealed. I sold about 60% of my shares at 0.39p average, having been bought at an average of .75p so a near 50% haircut.

I kept the rest because the gold price backdrop could lead to a miracle here, or at least allow a solution that keeps GRL in the game and fighting a bit longer. But it’s too risky for me now to risking 100% of what I had left.

If you’re still fully in good luck but it’s best to know the facts rather than be sucked in by traders selfishly looking for a higher exit