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Bitcoin is doing very well today and over recent months which reinforces the case for a bitcoin treasury operated by 2 bitcoin experts.

The low volumes in recent days suggests the investors who recently received their new shares haven’t been selling them. There is a larger 4 million new shares to be issued next week so I imagine the share price will remain around the current level until those shares are listed, unless of course they have news to release. I think the news will come when the next lot of shares have been listed so that a the higher volumes caused by the news will quickly mop up any new shares that are sold.

This is what the Oak Bloke says about GMET in relation to the MP Materials announcement yesterday where the US Government will take an Equity stake and arrange all the finance from US Banks.

“ There are REE projects in its portfolio but I’m including this mainly due to the strategic read across from today’s news and the impact on what a deal would look like for its IPO spin out Guardian Metals.

Power Metals still holds 17.71% in Guardian, a Tungsten Project Miner and it’s ironic that it sold half of its holding earlier this year when its 40% holding was worth just under £20m, so selling half raised £9.2m and left £9.88m shares. The remaining shares are nearly worth what they were pre-sale!

Today’s deal at MP provides a blueprint for UUUU and MKA, but also for what we will likely see at GMET in the coming days or weeks. It is the most hinted at deal that hasn’t actually happened yet. GMET is now valued at nearly £100m based on hints and samples as well as the fact that GMET obtained a 2nd Tungsten project in Nevada with a brownfield operation which could be restored to operation relatively quickly delivering tungsten and other minerals.

Today the remaining holding in UK and US listed company GMET is worth £15.8m.”

He seems to be suggesting an MPMaterials type deal is on the cards for GMET. If that does happen the GMET share price is going to the moon. POW wouldn’t want to be selling any of its remaining GMET stake before that plays out. They donwant to make the mist they have already made in selling the first half too soon and too cheaply.

This is rather strange that we have seen a high volume today of 3.8 million with 3.1 million going through in large trades at the mid price 10p and hence being recorded as unknown as to whether a buy or a sell. Does anyone have any idea what is going on?

Why sell GMET when the recent injection of cash from the GMET shares did nothing for the share price.

When GMET is on the move POW should follow as every 1p rise in GMET share price is worth circa £248,000 to POW. So as GMET is Up 4p so far this week that’s £1 million. It appears that in the last couple of days some investors are starting to take notice and POW is starting to move.

Share buy backs have a pretty poor record at increasing the share price in companies large and small, so I wouldn’t get too excited.

I wonder if the recent share price increase is related to GMET reaching new all time highs which is making good money for POW as it is our largest and most valuable investment. It surprises me that POW doesn’t issue more RNS to advice shareholders of progress at GMET.

The MM’s are moving the price to just above 18p so that anyone who decides to flip any of the 2 million+ shares that will be listed for trading tomorrow, does not make much of a profit. This is your chance to pick up shares around the placing price if you didn’t take part. But as you are presumably buying because you expect them to soon worth multiples of 18p, a penny or 2 is neither here nor there.

I think it is worth remembering that Rick Rule is a shareholder and because of that Sean will be at Rick Rules Investor Symposium in Boca Ratan, Florida this week. It is attended by the good and great of the global mining community.

It was the fact that Rick was a shareholder that convinced me to start investing and was particularly pleased to be getting in at a lower price than Rick. Rick really likes the project generator model adopted by companies like POW and says they have been some of his most successful investments. One big attracts that they finance at the asset level and don’t keep coming back to the shareholders for more cash. They trade some equity in the investment in return for someone else financing it.

My view based on listening to Rick talk to Sean about POW is that he is most interested in the Uranium JV. Rick and Sprott are very big investors in Uranium and will have formed a view on the Uranium projects. The fact that UCAM are injecting £10 million into uranium drilling suggests a high level of belief that it will be successful. They could have another GMET on their hands but with even more upside. I am continuing to be patient and expect to be well rewarded, even if I do keep wishing that I had put all my POW investment into GMET which is what I most liked in POW’s portfolio! Fortunately my GMET investment has done very well while I am just close to breakeven with POW.

There is an interesting article on page 14 of the Weekend FT which provides very interesting background to the area Satochipay and Vortex operate in.

“ Stablecoins begin to enter the mainstream with backing from Trump administration

Until six months ago, stablecoins were a niche pursuit, used mostly in crypto trading and criminal activity.

But these digital currencies, called

"stable" because they are backed by real-world assets such as the dollar, have now become a pet project of the US administration and a hot topic in corporate boardrooms. Companies including Uber and Bank of America are exploring issuing their own, reportedly Walmart and Amazon are too, while PayPal has already done so.

Other banks and payment groups such as Visa and Mastercard are making investments and partnerships to get involved. What is driving this growing mainstream interest?

Could they make life cheaper?

Enthusiasts say they could, by moving payment processing outside the global networks that are dominated by banks and two companies in particular, Mastercard and Visa.

Every time a bank card payment is made, the transaction is subject to a surcharge known as an interchange fee.

This covers processing costs and protection against risks such as fraud.

The fees go from the merchant's bank to the buyer's but are ultimately paid by businesses and their customers. There are also fees for using the payment net-work, but the biggest chunk goes to the bank. In 2023, these "swipe fees" totalled $224bn in the US alone, and domestic card issuers made an average profit margin of 35 per cent”

I have copied the first few paragraphs of what is a full page article. But it is very interesting to note that Visa and Mastercard are mentioned twice in those opening paragraphs as they are dominant players in a massive global market and we know from the Vortex website that Visa and Mastercard are Coming Soon. BLU is in the right place at the right time it would seem.

Another factor at play here could be the Gold Bull Run Cycle. First gold rises which it has and has made new all time highs in recent months so no question it’s a bull market in gold. Next, and it’s taken longer than expected, the major gold miners start to experience strong rises and we have seen that recently. The next phase is the Juniors start to rise and according to the likes of Rick Rule, Ross Beatty and other well known commentators the good juniors demonstrate the largest rises with a number doing 100% to 300% and more based on previous bull runs. It seems as if MTL is going to be one of the good juniors.

Tutting you will find full details of the CVR’s in an MTL RNS dated 5th December 2024. Essentially you received 1 CVR for each Condor share and if all the criteria are achieved you could receive up to 11.1p per share paid in cash or MTL shares.

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Proud to officially be going very long on #Bitcoin 🧡

Blue Star Capital secures £1.25 million for Bitcoin and Crypto Treasury Expansion.

When we had the rise last Friday on a pipeline rumour the volume was 5.8 million. Currently the volume is 9.3 million just 1 hour after the RNS.

It is still undervalued. Investors should thank Condor for this rerarate. Condor was an absolute bargain purchased for less than half its real value . MTL has started to unlock this value and in my view now that the MTL shares I received for my CNR shares are Up 100% , I think they are now worth what CNR shareholders should have received when the company was sold. MTL management did a great job for MTL shareholders in securing Condor at the price they did and have now done a great job for Condor shareholders in unlocking its true value.

I think the current share price of MTL is more than supported by its assets particularly the gold in the ground in Nicaragua a large amount of which was not included in the PFS. Nicaragua was always said by Mark Child to be a 5 million oz gold district and more. Just look how much gold is being mined a few miles away by Calibre and the vast amount of cash it has produced to fund Calibre’s projects in Canada and the US. Calibre a £ 1 billion plus company has now become part of Equnox Gold. Calibre’s success in Nicaragua demonstrates that MTL is undervalued and the 18p target price is very conservative.

My II screen has said phone only regarding BLU for some time. I use my Barclays accounts on line with no issues.

“ Power Metal’s market cap - like Bezant and several others - is madness. Its cash + remaining GMET shares eclipse it. The potentially £16 million drilling campaign at the world’s No1 uranium address? Apparently worthless.

Power Arabia? Nobody cares.

The massive portfolio? Valueless.

There is another catalyst around the corner though. It was clear the CEO was waiting for GGP to list on the ASX before launching an IPO for FDR - and with the Rick Rule conference coming up, I’d bet the odds are this one is back on the table.

Though it may need an additional asset to attract the capital needed. I remain convinced this stock will re-rate - someday, somehow.

Hopefully in my lifetime, but if I have to put my shares in trust to ensure they don’t get sold before that happens, I’ll do it.

I joke, but you get the sentiment.”

I have posted it because I think it captures how long term shareholders feel and the market refusing to take any interest in the massive discount to NAV.

“Guardian Metal announced promising assay results from its co-flagship Tempiute tungsten project this month.

The company confirmed high-grade tungsten mineralisation along a 1,300 metre skarn zone with samples up to 0.94% WO₃ and also saw strong gallium values up to 100ppm. New claims at the East Zone returned even higher grades, including 1.2% WO₃ and 90ppm Ga - making it a key new target area.

Additionally, grab samples from historic ore stockpiles and tailings show elevated levels of tungsten, gallium, zinc, and molybdenum, with some stockpiles containing up to 1.50% WO₃.

And a newly staked area, the Worthington system, yielded standout assays up to 2.66% WO₃ - early days yet of course, but not to be sniffed at.

Perhaps more importantly, GMET has been admitted to the Critical Minerals Forum - the centre of the US critical minerals supply chain development. The Forum operates in partnership with the Defense Advanced Research Projects Agency's (DARPA) Open Price Exploration for National Security (OPEN) initiative - and bottom line, the initial tranche of grant funding for PM will come any day now.

And yes, I know I said June. I’ve decided to give myself another month - and if it doesn’t come in July, I’ll hike to Pilot Mountain on my next trip out to Vegas and throw my crystal ball into the nearest drillhole.”

POW has had a tremendous success with GMET which has fully proved the business model and the sale of just half their GMET investment gave them £9 million. The problem has been that the market refuses to recognise the value of POW even when it has realised a large chunk of cash. In my opinion the most appropriate and fair course of action is to declare a special dividend from the GMET cash so that long term shareholders receive a tangible return on their investment getting their money back at NAV instead of the large discount to NAV the shares trade at. I am not in favour of share buybacks which often achieve nothing in terms of raising the share price.

As an example look at SEED which is a similar company with a number of investments in other companies. SEED eventually managed to put some cash in its coffers from the sale of an investment. It undertook a share buyback which they admitted achieved absolutely nothing for the share price or reducing the large discount to NAV. They then took the right course of action and distributed a 1p per share special dividend ( the share only trades at 2p)

Slater has certainly put considerable amounts of money into BLU in the past and was probably like many long term holders sitting on a large loss. Good luck to him on turning a large loss into a large profit. My point is that I would have liked to be offered shares at 2p and 11p to help with my losses. My concern is that the Board thought it was fair to offer a large shareholder shares at low prices that were not available to other shareholders.

Its done now and we have some new shareholders so onwards and upwards but I hope they don’t pull that stunt again and treat all shareholders equally in the future.

I was expecting Nick Slaters TR1 to show an increase in his shareholding as I thought he would retain the heavily discounted shares he was offered. In the RNS of 5th June it stated:

“ The Fundraise has been undertaken with both new and existing Shareholders, including the participation of Nicholas Slater, a significant Shareholder in the Company. The Issue Price represents a 450 per cent. premium to the last fund raise undertaken in January 2025 and approximately a 48.2 per cent. discount to the closing mid-price on 4 June 2025.”

The inference being it was a positive that Slater was taking more shares and would hold them. Slater had of course been involved in the previous placing referred to in that announcement receiving 1.75 million shares at 2p so at 11p he is sitting on a profit of 450% but as we know the shares are now double that. I am surprised the board made these decisions when I am fairly certain under an open offer to all shareholders the shares would have been snapped Up at 2p and 11p.

Clearly with the heavy demand for BLU shares, the shares Slater has sold have been easily absorbed but just think how much higher this would have gone if Slater had retained all his shares. If I had been awarded 11p shares I would be holding them because as we are only back to where we were 18 months ago in terms of share price we still have along way to go.

The TR1 that has just been RNS relates to C Sebakhi who has reported that his percentage holding in BLU has reduced from 4.7% to 3.8%. He has not sold any shares and hasn’t taken any up in the recent placing hence his percentage share of the company has fallen. He is quicker off the mark than Nick Slater, who historically is not very prompt with his TR1’s. Meinhard Benn and Daniel Masters will obviously wait for their new shares to be issued and listed before filing their TR1’s.