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GCM closed at 7p on Monday and 7p has been paid once so far this morning. The recent rise does feel different and perhaps the market is starting to believe that things are different with Phulbari clearly being talked about in Bangladesh.

It’s Up 12.5% today so far.

There has been mention in the past that this could eventually turn out to be a 10 million oz project. If you are in sale mode, which I think Mark is, then make the potential as big as you possibly can.

A near term inflection point would seem to indicate that you won’t have to wait long for your jam obsession to be satisfied. However in deference to Her Late Majesty Queen Elizabeth I suggest you buy marmalade and put it on a sandwich.

As you say a strong confident presentation from Mark. The mention of a group coming over last week with geologists was fleeting with no further details but I am sure it was very deliberate to demonstrate 3rd party interest in the project.
Interesting that one of the resource slides in Lula reference to copper which has not been commented on. However you will recall an interview a couple of months ago when Mark mentioned discussions with a Major who were interested in the copper.
Interesting Times and a great opportunity for Mark to have discussions at the 2 US conferences he is attending.

The header to Simon Thompson’s article gives an indication of his thought process and explains all the buy recommendations:
“ Profit from climate change

An African-focused group delivering transitional energy projects group is nearing an inflexion point
September 14, 2022
By Simon Thompson”
The statement that CHAR is nearing an inflection point and the buy recommendation indicates that the move north will be strong and permanent.

Cenkos Securities target 63p
Peel Hunt target 50p
Simon Thompson says Buy ( He includes the Cenkos target in his article.
3 Buy recommendations from the professional analysts. Good to see their well set out analysis and view that CHAR should rise at least 150% from its current share price and could be over 200%.
Let’s see if the next rerate is about to commence.

Phulbari
I have seen your posts over many years and yesterday commented on the other bb that you were conspicuous by your absence as you normally comment promptly when GCM has a decent rise. You have been slow to comment on the recent rise and do I detect that you are starting to doubt your usual very forthright opinion for example:
“ Hasina will not agree to open-cast mining at Phulbari. End of.”
Your latest phrase “unless and until” is not as forthright. Are you prepared to accept that the current energy crisis could prompt that Change from Hasina?

The BFS contains all the information bidders need to show to their Boards to justify a bid. So while we may well have been for sale for the right bid for many years we now have made considerable progress at the mine site and a high standard BFS to substantiate the project from a financial and operational perspective.
So as usual you are spouting deramping garbage which no one believes.

I think news of the drilling location will maintain some upwards momentum but it will be interesting if they release any detail on the seismic at that time. I think the really heavy lifting will occur when the full 3D seismic is released, which hopefully will show a significant upgrade in the amount of gas and hence an increase in value.

CNR went up to 60p 2 years ago without a BFS so every reason for it to do so now it has one. We now have more gold and are a lot closer to production. Further as the comparative figures show we are trading at much lower multiples than similar gold development companies just based on our gold in the ground. If we are sold it will be on the basis of our gold in the ground not our current share price.

Who said I was excited but I think it is important after yesterdays fall was trumpeted by the Derampers. The story here has changed with the global energy crisis and the old deramps rolled our for years are much less relevant.

Any dilution would of course be reduced if we can get the sp to 50/60p prior to any raising of new equity which would cut the number of new shares you mention in half. If significant dilution looks to be on the cards Mark will try even harder to sell CNR. Let’s hope Mark’s US tour sparks a bid and even if we don’t accept it, it should permanently raise the sp to a higher level.

Now Up 10% at 1.10 which means a further tick up could take us to our August high of 1.13 and then our 19 month high of 1.15 set on 29th March 2022. It would seem appropriate to be at a new high prior to the next news about the drill site. I would expect a good rise when the full new 3D seismic is released as was the case with CHAR which I think has many comparables with AEX.

Now Up 7.5% as 4 buys at 1.10 lead to another Uptick and one imagines the as yet unreported 4.5 million buy mentioned below. Tomorrow will be mid month so perhaps the next news will be released.

Currently Up 4.2% and Number 36 on the Leaderboard at 6.15p with buys exceeding sells 5/1.

Has Mark given his presentation yet at Beaver Creek? Hopefully not yesterday when US markets had their worst one day fall since 2020!

It’s a while since we had a Diggle Wiggle perhaps he is buying again. He last bought at 12p.

I think we may get another uptick before the close. I was just offered 13.43 to sell against a buy price of 13.47. That’s a pretty tight spread close to current full offer of 13.5.

Good to remind ourselves of that 102.5p valuation from May.
You would expect them to update their valuation following the BFS and perhaps others to produce broker notes in the next few days.