Member Info for ICB888

“ Phulbari Coal Mining Infrastructure Construction and Overburden Stripping Contract

The Company advises that working under the coal mine development MOU with Power Construction Corporation of China, Ltd. ("PowerChina") (refer to RNS of 28 November 2023), it has signed a contract with PowerChina International Group Limited covering mine development works of approximately US$1 billion necessary to facilitate coal extraction at the Phulbari Coal and Power Project ("the Project"). The advancement of this Contract is subject to receiving the approval of the Scheme of Development for coal mining submitted to the Bangladesh Government under the terms and conditions of its Contract for "Exploration and Mining Coal in Northern Bangladesh”

So on the green light US$ 1 billion will become available”

Look at the share price graph, At the end of March last year GCM went vertical from 2p to 8p in a few days. It stayed above 8p for the month of April peaking at 10p. We are clearly in a much more positive position now than then, so a return to 10p in the coming days would not seem to be an unreasonable expectation. In fact it should go much higher if the very positive news from Bangladesh continues to gain momentum .

Currently Up 47% on volume of 3.4 million.

The first day of the Cheltenham Festival and GCM is off to the races!

We all know that Phulbari is an economic necessity for Bangladesh and but was blocked by Hasina who wanted to ensure the dirty Indian coal continued to be imported. Hasina has fled to India and her corruption has been exposed. Recently her torture chambers have been exposed exposing her complete contempt for the people of Bangladesh and that she would stop at nothing to get what she wanted. It may be worth investigating her role in the so called riot at Phulbari in 2006 when 3 protesters were killed. She then used those deaths as her reason to block Phulbari, which was all very convenient for her now we know her real reason for blocking was she wanted to protect her income from the Indians.

It is complete insanity for the interim government not to give the green light to Phulbari as a matter of urgency as it is the only source of energy that the country can afford. If Phulbari had been green lighted Bangladesh would not have the level of power problems it is currently suffering. If Hasina does get extradited this crime against the people of Bangladesh should be on the charge sheet.

If Bangladesh gets any support from the USA and Trump gets wind they are not mining their own coal, I think they will be getting a phone call. The interim Government needs to act now to give Phulbari the go ahead. If they don’t they will be open to comparison with Hasina.

GCM should push very hard to get this over the line now.

Another box ticked this time a further RNS regarding the very high quality of the graphite. Up 4.55% to 46p another new high..

Paul Fg should listen again to the Sunday Roast interview with Oliver and read the recent RNS on Nuclear Fusion. I think we are all familiar with PaulFG’s posting style which is a degree of negative spin in the short term.

The point about Nuclear Fusion is the demand for tungsten in the future as per this extract from the RNS:

“ This study is the first scientific paper to directly quantify the amount of tungsten that is expected to be required in nuclear fusion technology in the context of a tungsten supply chain. The study predicts, in the scenarios analysed, if global tungsten production stays stagnant for the roll out of 500MWth and 2000MWth scale fusion reactors, the fusion industry will require 100% of global production by 2056 and the global tungsten production would need to grow by 10 to 16 times from its current level by the end of the century. For context, over its full 40-year lifespan, a single 2,000 MWth ARIES-ST reactor would need approximately 2.6 times the tungsten currently consumed in the U.S. every year for all use cases. The results strongly underpin the need for new mined sources of the metal to meet the growing future demand from fusion technology.”

My interpretation of future supply shortages if there is not a major ramp up in Tungsten productive is a major positive for GMET both in the short term for defense and in the longer term for fusion. What this means is there is a short term and long term expectation that GMET will have a ready market for all the tungsten it can produce. It also follows that if there are shortages the price will increase.

Oliver at the end said how all the investors he has spoken to very recently at 2 US conferences were very keen to invest in critical minerals in the USA, which is very much a focus of the new Trump Admistration.

Perhaps worth noting that the last trading of GMET shares was in the US on Friday where it closed Up 8.8% on volume of 83000, which is the highest volume in the US since the 2nd January. The US close of 0.44 converts to 34p.

I would not be at all surprised if we have further news next week as Oliver has got GMET firing on all cylinders.

Playtime

The £4 million you refer to is conditional and will be in the future as per this extract from the relevant RNS:

“ Joint Venture

In accordance with the Company's original announcement on 3 June 2024, the Investor will make an initial equity investment of £10 million cash into the Company's wholly owned Canadian subsidiary company, 1501158 BC Ltd (formerly Power Metal Resources Canada Inc), for a majority interest of 70%. The Company will potentially receive an additional cash payment of up to £4 million, conditional upon a sale transaction completing or other value realisation by the Investor, subject to the Investor achieving a minimum return threshold of three times its initial investment.”

The important point to note here is that POW have 30% of the Uranium JV into which UCAM have made a £10 million equity injection. It appears that there is no recognition of POW’s stake in the Uranium JV in POW’s current share price.

In interviews with Oliver at the end of 2024 reviewing the achievements and the 100% increase in the share price, he said 2025 would be better than 2024. That would imply at least another 100%. When suggestions of £100 million market cap were floated he didn’t disagree(obviously he can’t make a forward looking statement giving a figure but interviewers can).

There are a number of potential catalysts with the continuing drilling not just for Tungsten but a number of other metals. They could do a deal in relation to one or more of the other metals.

The PFS could drop at any time which is an obvious game changer. They could take on a partner for the Tungsten as they will soon start work on the new mine they have purchased which is closer to production than Pilot Mountain.

Almonty Industries the largest producer of Tungsten outside China has 2 mines in Europe and is just bringing online a new mine in South Korea. Almonty listed in Canada are moving their headquarters to the USA which is their largest market. In the new Trump world will the Tungsten they bring in from the European Union be subject to Tarriffs. I would suggest that if GMET struck a deal with Almonty like the deal SVML has with Rio it could be a win win situation. What better partner to help fast track Tungsten in the USA than the largest Tungsten miner outside China who have already built 3 Tungsten mines.

Personally I don’t subscribe to the short term negativity of some posters as something major could happen at anytime including a Grant. Oliver is on a mission with very supportive major shareholders who won’t be selling their shares anytime soon and I am happy to do the same.

Unfortunately gold is down today and that is the dominant factor in whether gold shares rise or fall. That being the case I don’t think the slight fall in the share price is a reflection of the markets view of the results but we may have to wait for gold to be moving up before we see the rerate.

Just for reference before they are updated on the back of todays results:

The 7 analysts offering 12 month price targets for Endeavour Mining PLC have a median target of 2,287.71, with a high estimate of 2,491.71 and a low estimate of 2,116.55. The median estimate represents a 43.70% increase from the last price of 1,592.00.

There is an investor call at 1.30 pm UK time before the Canadian and US markets open. Canada is the lead market for EDV with much higher daily volumes. EDV move up sharply here as the Canadian market opened and I suspect the same will happen today. The results and the outlook are very positive. The company has clearly demonstrated that the CEO problems that are responsible for its undervaluation by the market have not affected its operational or financial performance.

EDV is a 1million oz+ Producer throwing off increasingly large amounts of free cash flow. It is increasing its returns to shareholders and is more than replacing the gold that it mines.

The pathetic deramping Porker should read the RNS:

AEX say it is fully funded:

“ The Company forecasts that all of its capital expenditure requirements will be met through its Carry and future Ntorya revenues.”

ARA have been clearly been hard at work and are just waiting for the starting pistol to be fired on the pipeline.

“Later this week, I will take historic action to dramatically expand production of critical minerals and rare earths here in the USA” -

@realDonaldTrump

@WhiteHouse”

Let’s hope that whatever the Donald intends to do it will benefit POW’s Uranium JV and GMET’s Tungsten.

I agree it is an interesting watch that I saw a couple of days ago. Hearing Rick Rule saying how much he likes Prospect Generators in a discussion about Uranium. Rick owns 4%+ of POW and it is my impression from the conversations he has had about POW that his number one interest is the Uranium assets. Clearly up to now the big success has been GMET but when asked about GMET he didn’t say much on the basis that he didn’t know much about it. Given his long term interest in Uranium and Sprott Uranium it seems highly likely that the Uranium prospects in the top jurisdiction are what made him get his cheque book out. The company that has stumped up £10 million to drill the Uranium must have been convinced that the chances of success are high. Rick Rule likes 10 baggers so I have high hopes for the Uranium JV.

There is more news from GMET this morning.

GMET RNS More significant drilling results from Pilot Mountain relating to Tungsten and other metals. Also announced boots on the ground preparations for the new Tungsten mine:

“ Oliver Friesen, CEO of Guardian Metal, commented:

"As the need for a domestic U.S. mined source of tungsten continues to accelerate, we are pleased to able to produce another positive set of drilling results from the ongoing Pilot Mountain drilling campaign.

"Our Nevada based operating team is working hard to complete the final few Desert Scheelite drillholes, following the completion of which, they will commence work on the geotechnical drillholes to support the Project's pre-feasibility study. Work is also being progressed at the Project's Garnet and Gunmetal zones which host polymetallic tungsten-silver-copper-zinc mineralisation very similar to what is found at Desert Scheelite. We consider these as being low-hanging fruit targets given the historical widely-spaced drilling which uncovered significant intervals of skarn-style polymetallic mineralisation.

"We are also pleased to report that initial preparations are now underway for the Company's first ever boots on the ground work programme at Tempiute and we anticipate providing an update to the market covering more details in short order.

"As work progresses across our Nevada-based tungsten portfolio, the push to secure domestic supplies of critical and defence-related metals only strengthens the strategic positioning of Guardian Metal Resources within the U.S. and abroad."

I do think Sean’s absence from the airwaves for some months, despite big events such as the GMET sale, suggests some further big events are close. There are probably things he can’t talk about which would be awkward if he was questioned about the portfolio.

Closed Up 2.2% higher in Australia on volume of 700000 having been 5% Up in early trading. SVML continues to make new highs as this mornings RNS advises that a new Corporate Presentation is now available on the website.

RNS More significant drilling results from Pilot Mountain relating to Tungsten and other metals. Also announced boots on the ground preparations for the new Tungsten mine:

“ Oliver Friesen, CEO of Guardian Metal, commented:

"As the need for a domestic U.S. mined source of tungsten continues to accelerate, we are pleased to able to produce another positive set of drilling results from the ongoing Pilot Mountain drilling campaign.

"Our Nevada based operating team is working hard to complete the final few Desert Scheelite drillholes, following the completion of which, they will commence work on the geotechnical drillholes to support the Project's pre-feasibility study. Work is also being progressed at the Project's Garnet and Gunmetal zones which host polymetallic tungsten-silver-copper-zinc mineralisation very similar to what is found at Desert Scheelite. We consider these as being low-hanging fruit targets given the historical widely-spaced drilling which uncovered significant intervals of skarn-style polymetallic mineralisation.

"We are also pleased to report that initial preparations are now underway for the Company's first ever boots on the ground work programme at Tempiute and we anticipate providing an update to the market covering more details in short order.

"As work progresses across our Nevada-based tungsten portfolio, the push to secure domestic supplies of critical and defence-related metals only strengthens the strategic positioning of Guardian Metal Resources within the U.S. and abroad."

“ So this Thursday at 8.40am London time, Erhan Saygi (Gen Manager ARA Petroleum Tanzania) makes a presentation titled Ntorya Field Development. He'll be doing so at: 11TH EAST AFRICAN PETROLEUM CONFERENCE & EXHIBITION 2025 (EAPCE’25)

We also have the Tanzanian Ministry of Energy having tweeted this on Friday, the pic shows the Dep. PM, the Omani ambassador and the CEO of AEX:

hxxps://x.com/Nishati2017/status/1895490378272485479

Examining the tea leaves ...

You'd expect the ministry to have tweeted about something that they feel positively about and the proximity to the conference is surely no coincidence.

I'd hope TPDC and/or the Tanz govt announce something related to Ntorya on Wednesday morning, that's when all the important people will be present.”

Extract from Charles Archers March Review:

“The Power Prophecy

At the start of the year, I was fairly confident that Guardian would have a strong Q1 and parent Power Metal a strong Q2.

I do feel sorry for POW - both in my portfolio, but also for fellow investors, and management - it’s done everything right and the market refuses to reward the company.

This is by no means a unique situation, but having divested roughly half of its GMET holding, Power will have (after paying off debts etc) around £7 million in CASH, exposure to potentially >£16 million in the uranium JV in Athabasca in an upsiode scenario, 20% of GMET worth circa £9 million, and then all sorts of projects all over the world - including carefully laid plans in Saudi Arabia.

What I find most gratifying about Power is that the company has effectively managed to ignore brokers for cash-raising purposes - and it’s extremely unlikely you will wake up to a discounted raise.

As I said at the start of the year, the most important thing in this market is cash - or good access to it, such as through a near-term deal. POW now has it in spades.

What this capital does is give the company breathing room - and the ability to continue developing its business in Saudi. And to negotiate deals from a position of strength.

I remain of the the view that Power will tag 30p in Q2, though a lot of this hinges on getting the uranium drilling up and running expediently. If this drags on, then the re-rate may come in Q3.

Unless Sean has something up his sleeve that shocks the stock awake.”

I agree with Charles Archer’s analysis and a 30p target in the next quarter is fully justified. POW has gone backwards while GMET has done 100% in the last 12 months and until recently POW held 45% of GMET which is only partly reflected by the £9.5 million cash.