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On todays Sunday Roast they mentioned in passing the issue of the drilling permits and the expected commencement of drilling on 11thMay which coincides with the anniversary of GMET’s listing. One of them mentioned he had spoken to OF during the week and that the list of meetings he had was very impressive. He didn’t list them but did say there were meetings with some of the very big players. One would imagine the grant or grants that have been applied for are dealt with in Washington. It would be a perfect storm if the grant were to coincide with the commencement of drilling but so long as it comes everything is looking very positive.OF has achieved a lot in the 12 months from its listing and deserves to be highly commended for his work ethic and his achievements.
It is important to remember that the 600000 ozs in the BFS are the tip of the iceberg. A buyer of CNR is also aware of all the other work that has been done:
“ The current mineral resource estimate on the project area is prepared in accordance with NI 43-101 comprising an indicated mineral resource of 9.85Mt at 3.6 g/t gold for 1.140M oz gold and 5.9 g/t for 1.88M oz silver and an inferred mineral resource of 8.48Mt at 4.3 g/t for 1.179 M oz gold and 8.2g/t for 1.201M oz silver, all contained within a 9km radius within the La India Project area. “
We also know that Mark has said this is in all probability a 5million oz gold district and there aren’t many of those that are shovel ready on the planet just as a gold and commodities super cycle is underway. The success of the next door miner Calibre acts as a case study. If Jim can’t get a really good price now and repeat his Uramin sale I think he needs to hang up his boots and retire!
I am very pleased with my investment in Equinox which I think will rerate when Greenstone goes into production in the next couple of months. I hadn’t thought of Equinox taking an interest in CNR but it is a Ross Beatty company and he was a shareholder in Condor. I still think it is a compelling opportunity for Calbre as they can start producing almost immediately and get their acquisition cost back very rapidly at the current gold price.
Yes Newmont is having a nice run which should have a long way to go. Newmont’s better than expected results saw the worlds largest gold company rise 12% in a single day which I suspect is unprecedented, but is a reflection of just how cheap gold equities remain even after the moves seen in the last month.
On a podcast last weekend it was mentioned that OF was flying to Nevada for meetings in Reno. I would imagine he will want to do a report from Nevada so perhaps this weekend or the beginning of next week.
The 30p dividend is due to be paid on or around today 26th April. It’s not showing in my II account and I am wondering if anyone has received it?
Pilot Mountain is the most immediate solution:
“ No domestic US primary tungsten production, and classified as a strategic mineral by the US Department of the Interior.”
That’s from the website and that’s why GMET are in line for a grant or grants relating to getting US tungsten production underway asap.
It’s worth rereading the report highlighted by gaslady, this is an extract:
“ Valuation – We have adjusted our model for the updated production schedule (first gas now
expected in 1H25) and we have moved our valuation forward by a year. This has had an
offsetting effect to our valuation, resulting in an unchanged fair value range for the shares of
between 2.0-2.5p/share.
We believe that the recent pullback in the share price (likely due to delays in the first gas
production schedule) provide a good risk/reward opportunity, especially given the future
potential in next 12-24 months, highlighted by today’s announcement.”
I think you are talking to the wrong man. It’s Jim Mellon who is conducting the sale for the benefit of his 25% shareholding. This is now well above Mark’s pay grade and that is why he has disappeared. The sale process must be close to a conclusion so just be patient. There is no benefit to shareholders in updating us at this point about progress of the negotiations, as giving a running commentary on private negotiations in a publicly available document would be commercially counterproductive. With all the NDA’s in place they have to be very careful what they say even if they wanted to say something.
“GRAPHITE EXPERT APPOINTED TO KASIYA DEVELOPMENT TEAM
· Sovereign further strengthens owner's team through the appointment of graphite and battery anode specialist consultant Dr Surinder Ghag as Chief Technology Officer - Graphite
· Dr Ghag is an expert metallurgist with 25 years of experience across critical minerals including graphite and rutile
· Sovereign is poised to become the global leader in natural flake graphite production, a significant by-product of the Kasiya Rutile-Graphite Project in Malawi
· Dr Ghag's appointment further bolsters the world-class Sovereign Project Development Team which is working alongside strategic investor Rio Tinto to develop Kasiya”
SVML is Up 7.22% in Australia on this news.
It is very positive that they have obtained unsecured finance to commence the payments on the licenses:
“ Steve Kesler, Chairman and Interim Chief Executive Officer, CleanTech Lithium PLC, said:
"Acquiring the 23 Laguna Verde licences under new commercial arrangements, so the Company has full ownership as well as control, is a prudent decision, which will support potential long-term returns to investors. The Company has also been advised that gaining full ownership of the licences will clear the path for the dual-listing on the ASX. While the timing of this decision has been driven by the ASX listing requirements, it was always planned to make these changes for commercial reasons and to provide our shareholders and potential strategic parties with clarity on the ownership position and amounts payable over time. The Board is pleased to have reached agreement with the Vendors on this matter and thanks them for their flexibility over the course of the past few months.
"Having been offered attractive terms by a third party to fund the first staged payment through a convertible loan facility, the Board felt it was prudent to take up this offer, allowing us to continue to focus our existing resources on our ongoing and planned work programmes. We are grateful to the new convertible loan note holder who has demonstrated real confidence in our plans.
"I would also like to recognise and thank our previous CEO, Aldo Boitano, for his crucial role in bringing both these agreements to a successful conclusion.
"Now that these changes have been made, we will look to dual-list on the ASX, with the relevant documentation on this now being under way. We will update our shareholders on this in due course when the application has been made."
Australian listing requirements are stricter than most involving extensive due diligence. The fact that the Australians require todays action to secure the listing is a big positive for me as is the fact that CTL have been able to obtain the finance to comply.
“ Oliver Friesen, CEO of Golden Metal, commented:
"A huge thanks to everyone on the team for all of the hard work that has gone into finalising preparations for this exciting drilling campaign. So much existing knowledge is held by those who have been involved with the Project previously, and we are thrilled that so many were interested in getting involved again as we look to rapidly grow and advance the Project given the USA's very pressing need for a domestic source of tungsten. We believe the importance and criticality of this Project is nearing all-time highs, and with this drilling programme we aim to both increase in-ground resources and collect import data which will be required in order for us to complete the Project's first economic study, further details of which we will announce in due course. I am very much looking forward to an exciting and news-rich spring and summer for Golden Metal."
“ Oliver Friesen, CEO of Golden Metal, commented:
"A huge thanks to everyone on the team for all of the hard work that has gone into finalising preparations for this exciting drilling campaign. So much existing knowledge is held by those who have been involved with the Project previously, and we are thrilled that so many were interested in getting involved again as we look to rapidly grow and advance the Project given the USA's very pressing need for a domestic source of tungsten. We believe the importance and criticality of this Project is nearing all-time highs, and with this drilling programme we aim to both increase in-ground resources and collect import data which will be required in order for us to complete the Project's first economic study, further details of which we will announce in due course. I am very much looking forward to an exciting and news-rich spring and summer for Golden Metal."
The Sunday Roast podcast had as its guests Paul Johnson the former CEO before Shaun who remains a large shareholder with 3.7% and Charles Archer who has written reports on POW. There is a lot of very positive talk about POW and GMET particularly how undervalued they both are. It’s a long podcast which doesn’t just discuss POW and GMET but worth a listen as obviously Paul Johnson has some interesting insights having been involved with POW from the beginning.
The Sunday Roast podcast had as its guests Paul Johnson the former CEO before Shaun who remains a large shareholder with 3.7% and Charles Archer who has written reports on POW. There is a lot of very positive talk about POW and GMET particularly how undervalued they both are. It’s a long podcast which doesn’t just discuss POW and GMET but worth a listen as obviously Paul Johnson has some interesting insights having been involved with POW from the beginning.
While we await the RNS it is interesting to contemplate where we might be heading. The II site provides Morningstar’s fair valuation for AEX and clearly this is without the RNS we are awaiting. The Fair Value is 2.2519p so the current sp is a 50% discount to Fair Value.
From the FT/IC site: “ The one analyst offering a 12 month price target expects Aminex plc share price to rise to 3.22 in the next year from the last price of 1.13.” which would be a rise of 185%.