Member Info for howezap

Totally unfair toward JDAU, one of the most respected long term members, that I would put alongside CaveatEmptor and Theiceberg some years back. Yet now, seems to get challenged whenever objectively supporting the company that you are all supposed to be invested in.

This doesn’t make sense considering that some disgruntled shareholders, I’m sure, do not have an agenda to not only relentlessly trash their own investment, but the way I see the constant dissing of how the company is run, it now borders on ‘interfering’ with me making a living for my family as it continues. Others should be thinking this way too, as sentiment plays an important role for PI driven stocks.

Let’s play nice in ‘26, as this company is well positioned and funded to do well. The company would not have raised extra capital alongside its income if they didn’t think it was going to be value accretive in the long run.

Plus you can currently buy lower than the placing price!

Best to all

“I see I am getting a lot of stick for expressing my opinions.” - Bamps

Can only echo what Jerry has said, you know it’s not your opinion on production guidance that is causing a stir dont you?

That on its own can be honestly appreciated. For members to make their own judgement call. It was an error of judgement ‘for you’ to inform that you had sold some.

Historically, your contributions noticeably lack any kind of predictions on share price movement, so to share that information in the way you did shows an agenda unfortunately. Even if it was not intentional.

Keep your integrity, the board will be better for it.

“There's no use collecting licences just to watch them run out.”

Generally you have to pay a rent on the ground with a requirement to essentially, put an increase of expenditure on them each year. Are you saying then they don't want to be paying rent on something they're not using and giving them up is going to save the company money?

I think you should apply for the next ceo job jez 😉

And you say I talk shyte 😂

“King of the Paterson and King of the Aim.” - E1

In view of this, is GGP still the darling of AIM? ……hell yeah it is!

A unique company and circumstances that doesn’t need sugar coating by anyone, the other side we have the shareholders. Not only the very informed selfless individuals that give knowledgeable commentary and analysis in their various areas of strength, but also for every single contributor to these chat groups that has helped drive sentiment forward and help many folk simply to keep focused to help them make money.

Darlings the lot of ya 👊

Not to say there will not be partnerships formed toward mine development with offtake agreements. Collaboration is far more likely, to get a strategic foothold in Greenland for its minerals.

Picking up the western foreland licences, in what is undeniable prime real estate, is turning out to be a good move.

This what Robert Friedland stated in their Ivanhoe exploration update.

“Very few of our mining industry peers are actively searching for new copper discoveries… and even fewer are searching in the right places. The scarcity of high-quality, undeveloped copper resources is becoming increasingly evident… and the ongoing supply shortage in the copper concentrate market will do nothing but grow. To date, Ivanhoe has delineated more than 20 billion pounds of copper in the Western Forelands, outside of Kamoa-Kakula, at a high cut-off grade of 1%, and we are just beginning to unlock this region’s vast potential.

“The Western Forelands is the world’s richest copper basin, and the Democratic Republic of the Congo, the world’s second largest copper producer, stands unmatched as the premier destination for building new copper mines.

https://www.ivanhoemines.com/news-stories/news-release/ivanhoe-mines-drilling-doubles-the-size-of-makoko-kitoko-copper-discoveries-in-the-western-forelands-in-18-months/

Xtract do have a considerable land package that they are doing early field programs on to confirm the presence of mineralized zones which establish the framework for next stage exploration.

“a major will come along with an offer to take on, at a time when existing, and more, projects have been proved up.”

Agree with you CP it’s highly unlikely any corporate action toward acquisitions from a major will occur without proven reserves and feasibility in what we are very aware is a tricky place for majors to operate in historically with the bottom line being likely their far higher operating margins.

Which is why majors really only buy success and for good reason, so that is likely to allow significant share price appreciation while the company establishes itself and grows its asset base with every positive drill being value accretive from over 5 linear miles (8.5km) of drill core from ‘25 campaign mainly from Nalunaq and Nanoq.

Thought Eddie Wyvill’s use of the term ‘rotary lie detector’ was amusing! These terms are generally born from explorator CEO’s that have a tendency to exaggerate claims in their PR and if you were to believe them all in what they reckon they are sitting on. Gold probably would no longer hold its scarcity value.

Jezzoo where does it say in there ‘when’ they will evaluate the material or when this has to be done by? it doesn’t, meaning as purchased material they can just sit on it as an investment and wait until the time is right. Colin gave some potential revenue predictions so would have a reasonable idea at what copper price is anticipated for them to act. If it’s a duffer, we will be informed with a small paragraph tucked away at the bottom of a report, so until then….

Hi Ben I hope you are still with me here in 2055 if I’m still here. There is a japanese legend that says,

"If you get on the wrong train, get off at the nearest station; the longer it takes you to get off, the more expensive the return trip will be." You must still believe you are on the right train with the amount of stops it’s probably passed. Could turn out to be the darling of AIM long before 2055. After all, the company strategy by then will have had the chance to see successes, or not. Am happy to stay with current assets and find out.

That ore dump material, essentially the lower grade mined Oxides put aside to favour higher grade sulphides at the time are not too disimilar to the oxides still being mined and processed at Manica. It was not acquired through for any kind of collaboration agreement for processing, it was ‘purchased’ as an investment. Which could well turn out to be a very shrewd business decision valued at US$1.15 per tonne for US$300,000 at time of purchase. In ground value today it’s now worth north of US$1.3m subject to metallurgy, then haulage and processing toll fees with option to purchase more.

Ah… but it’s not in the ground is it! The expensive bit in mining it has already been done, now stockpiled ready for grade control then trucked away. Just a matter now of when they act strategically or at what sustainable copper price.

Just saying NtM 😉

Is great listening to Eddie Wyvill, from his role, naturally gives a far more level headed perspective of the business side of the company. Has certainly given more insight in how they are approaching Nanoq with more clarity surrounding it being ‘less likely’ for processing to be ‘focused’ on being delivered from Nalunaq or at least as just supplying supplementary ore feed to keep up nameplate capacity at Nalunaq required to run most efficiently.

Already get the feeling it’s not about what they have, what they think they have, what they can prove they have or even think they can prove they have, but more about utmost scale of global resource potential of Nanoq. Whether they also have a second potential tier 1 standalone operation and just how they are going to exploit it all. It’s a crazy situation for a junior explorer/producer to have, but also,

“the nicest problem in the world to have.”

I say junior as at current market cap level you can’t even consider the company as a mid cap. Nuts…

Really good points gspanner, couldn’t agree more.

Top three criteria for ‘any’ mining investment.

It’s management first, management second; and management third. And then it goes from there.

Good management can take a mediocre asset and make it work. Bad management can’t generally make a bad asset work. And bad management can even screw up a good asset.

Having a good motivated experienced management with good quality, mineral rich assets that have a really strong combination of resource abundance, the economic significance and regulatory stability on the other hand, is what will drive Amaroq to absolutely succeed.

Been looking into finding a similar historical model that was successful elsewhere being envisaged for Nanoq, just to give something to compare to of sorts as every single project is unique, where an initial strategy was to exploit small scale mining that over time evolved into a tier one mine.

Aitik mine in Sweden is a tier 1 copper/gold mine started with a small reserve of just 50mt with an initial production rate of 2mt of ore going through a small plant. By 1998 the mine had yielded 300mt of ore. As of November 2009, ore reserves were 747mt with grading still consistent but now with far greater plant throughput capacity of the scale it remains today.


Aitik was small scale at first that grew its operation in scale over many years, Nanoq will follow a similar path but have a major advantage if and when it is commercialised as that initial ore will be processed off site at Nalunaq significantly reducing start up CapEx.

So on comparison, following a similar development growth pathway, will essentially take longer to establish itself as a tier 1 mine, but the more immediate economic and risk management advantages massively mitigates the risk burden of project failure overall if as were a major development.

Why do it this way if it becomes apparent it is monster and could easily support its own processing facility?

It’s all down to the gold price, to accelerate mine development to exploit current highs to bring revenue generation forward far more quickly and all the projects growth opportunity is potentially then paid for from treasury instead of through a debt facility. Also it is far simpler and quicker to get permits for a small mine than a big mine with a processing plant, the biggest lead time to production by far in any jurisdiction.

It’s certainly a doable strategy.

Just listened to the webcast, confidence is clearly evident to be touting Nanoq already with the potential to become a tier one mine. Eldur commented about “initially processing at Nalunaq.”

In a mines evolution, this is a dream scenario from a business point of view. Will require a smaller resource initially defined, to support economic viability toward that reduced initial capital outlay to get to revenue generation.

This from a small open pit starter mine to payback initail CapEx and to further fund and begin to unlock the full potential of the project toward a much larger operation with a potential standalone processing plant where then, further ongoing mine developments to increase mining rate, then only have to carry ongoing CapEx and OpEx once the main infrastructure has all been paid for.

It’s the perfect textbook model if they can initially leverage the Nalunaq processor and the one model that could potentially be non, or minimally dilutive to shareholders but importantly not see them having to give away a lot of Nanoq NPV toward a funding solution for a straight off processing facility as revenue from Nalunaq will be fed back to reinvest in Nanoq.

Standard definition of a tier one gold mine, is a company maker! one that produces about 500,000oz+ per year give or take, high margin and long life 10yrs+ to give an idea what the team appear to envisage.

Current MC of £430m, go figure!

Another sterling set of results for what was essentially still reconnaissance/resource drilling at Nanoq prior to larger scale resource drilling in ‘26.

Early campaigns like this are not a time to be just following veins and chasing high grades where it’s really easy to lose track of the main objective, as James commented, it is more about understanding the geological model and general subsurface.

So to return significant grades like those reported and to achieve 63% success rate of drill holes intercepting mineralisation is outstanding, enabling fast tracking of resource delineation and some definition drilling to produce Nanoq’s inaugural MRE to accelerate mine and infrastructure development.

Puzzledpete, surely if you believed ggp looked far to expensive you could have simply pointed it out rather than have to go away and try to pick holes in it to try to justify yourself. Good luck this will be fun.

Fantastic synopsis of state of play, current and forward projections. Can’t pick holes in it for want of trying, that’s the thing.

The catalyst pathway really is that remarkably clear.

Really good insight e1, I would say then that the only useful tool for NPV/IRR is that they just give potential investors a snapshot of a project for it to be compared alongside similar projects.

Thanks

Using a really low discount rate is not common no! But not unusual either. Is testament to how much quality there is in the Havieron business case as E1 and Bamps have pointed out with low cost production and ongoing resource development and mining output potential that is ongoing so the use of a 5% rate allows the present value calculations to highlight this growth potential more favourably.

But furthermore as soon as the Telfer production guidance that was down graded can be out outperformed by solid quarterly production and cost figures along with H1’26 reserves statement to give a clear pathway to extension of mine life of Telfer ‘hopefully’ well beyond first ore of Hav and an increase in forward production guidance then we will start to see share price appreciation far more as the business case for the revival of Telfer relies on combining ‘both’ mining developments. The market will want to see proof first. This more likely explains why there is a subdued reaction to the DFS release as yet.

For you 1eyedman, Shared from Amaroq TG post by Archer for those not on the group, which he sums up the status quo well.

“There are a few potential catalysts:

The first month where the mine delivers several thousand ounces (as a precursor to 35k+ ounces in the year).

US/EU/Danish government funding for rare earths, strongly implied to be coming (though no guarantees).

Nanoq exploration results, which I suspect will be stellar.

Upgrade to 450tpd of processing.

Watch their recent video on Black Angel as gives a sense of the real scale - we are the only Greenland operator worth knowing.

The real problem is that nobody genuinely believes this is workable when so many majors have failed miserably. When it's proven, this stock will jump, hard.

Give it six months.” - C Archer

This paragraph clearly demonstrates how they are optimising their resource reporting to more accurately depict the relationship between drilling results and situ gold.

“Over recent years, Amaroq’s technical team has strengthened its understanding of the deposit through detailed geological work, including the development of the bespoke Dolerite Dyke Model, which has improved the effectiveness of drilling targeting from surface, looking to counterbalance the “nugget effect”, in order to achieve more consistent drilling results.”

This is really intriguing and goes back to an early MRE with that resource, having grades that were previously under reported by the third party mining consultancy that classified it, (MRE updates are all externally classified) as gold vein hosted resources are particularly difficult to get classified. It has clearly been a bone of contention. There is certainly a positive indicator there too, of seeing further resource uplift in MRE5.