Member Info for ICB888

There was not a disposal of any GMET shares

Holdings RNS at GMET

2 RNS after the close on Friday showing slightly reduced percentage shareholdings for POW and Lars Bader are simply housekeeping as a result of issuing £2 million worth of new shares in the recent Strategic North American Financing. No shares were sold by POW or Bader.

A good end to the week for GMET with a new closing high of 36p having closed the previous Friday at 31.5p. What’s good for GMET is good for POW as the largest shareholder.

2 RNS after the close on Friday showing slightly reduced percentage shareholdings for POW and Lars Bader are simply housekeeping as a result of issuing £2 million worth of new shares in the recent Strategic North American Financing. No shares were sold by POW or Bader.

Good end to the week with a new closing high of 36p having closed the previous Friday at 31.5p.

The market cap of GMET is still only £42.6 million. The value of the tungsten deposit historically before all the current drilling was about $1.5 billion according to Oliver in the recent interview. So GMET is very undervalued just on the basis of the base tungsten deposit that is clearly now expanding significantly. Then we can start to put values on the copper, the gold and all the other assets still to be appraised.

Oliver is giving us a stream of very positive RNS but so far we haven’t had the assay reports. I am very happy to take Oliver’s word that their expectations are being exceeded. I remember an interview he gave a few weeks ago explaining why they would be delaying the release of the detailed information. Essentially other miners will be very interested in the results of the drilling and could use that to decide to stake adjacent land. You will no doubt recall the RNS where Oliver said they had staking teams working around the clock based on what they had found on the initial drills and to chose further areas to drill which needed staking. Oliver is conducting a 24/7 drilling campaign expanding the resource and grabbing land to keep out other miners.

It is very exciting and I think the recent investment from North American investors provides great reassurance that that this is going to be a game changing drilling campaign and will justify a valuation many times the current market cap.

POW moving Up 3.62% to 17.875p on volume of 137000. GMET has moved up again on another drilling RNS and news is expected on the Uranium project by tomorrow. All of POW’s market cap is covered by its holding in GMET so everything else is effectively in for free. A successful conclusion to the Uranium JV should give a big boost to POW.

CNR building on yesterday’s gain Up 3.19% from two 5000 Buys.

Up 4.17% straight from the opening to 37.5p of a trade at 38p. Another very positive RNS bodes well for another new high.-

Calibre Mining currently Up 7.2% which illustrates what CNR should be doing.

The late reported 127000 at 25p, the largest trade of the day at the highest price bodes well for tomorrow. The gold price is above $2500 and CNR’s value is many multiples of the current share price. A significant revaluation is long overdue in advance of news of a sale.

Oliver did discuss the antimony export controls and the likelihood this would soon extend to Tungsten in the latest interview so he is really hammering this point home as much as he can. It is possibly aimed at the US authorities who are looking at giving grants to GMET. Upto now the US ban was to start in 2026 but if China decides to ban it themselves now,the grant is needed now.

Good to see POW up 2.22% this morning, perhaps responding to the 5.88% rise at GMET and in anticipation of news.

It seems the interview has been well received as GMET is Up 5.88% at 36p from 11 trades and volume of 58000. 37p has been paid 3x and GMET is currently number 22 on the Leaderboard. If some serious volume kicks in the move to 40p could be rapid. Strong hints in the interview that the assays will be impressive when they are released.

A number of investors have taken part in the last 3 years in several raises at upto 18p per share. One explanation for the 6.5p raise just before the drill we have all been waiting for is to allow long suffering investors to average down their investment before the big rise that will occur on a successful drill. It seems reasonable to me and I took the opportunity to average down.

It is very refreshing to see the very positive post from Midland Goldbug reminding everyone of the very strong case for Condor. Let’s remember that at the start of the sale process the base case for CNR was based on gold at $1600. There was a case at $1800 and a dream projection if it reached $2000. The company also said the £100 million cost of building the mine would be recovered in 12 months. We now have gold at $500 above the dream case (and rising) and $900 per oz above the base case. The payback period on current figures must be less than 6 months. All the commentators are expecting gold juniors to go ballistic in the coming months. If you just look at Calibre next door and the cash it is throwing off you would expect a queue of people outside Jim Mellon’s door offering well north of £1 per share.

Today’s RNS released just after 12 noon looks to have been released with a view to the US opening. The RNS contains impressive results and has been released very quickly after the US Financing last week. It will be interesting to see what happens on the US OTC this week.

GMET currently Up 11.11% at 35p another knew high following last Thursday’s Strategic North American Financing. This move is good news for the value of POW’s investment in GMET. Very strange that POW’s share price is responding with a fall !

Here we go now Up 11.11% at 35p as 2 buys go through at 34.9p followed by 2 small trades at 36p. Volume of 96000 from 23 trades. Are we about to see US trading become more active?

The market is in a positive mood and was Up1.59% to 32p straight out of the blocks. The volume is low but all buys and full ask of 33p has been paid 5 times from 9 trades. When the drill results start being released this is going to get very interesting particularly as US investors are clearly getting on board as evidenced by last Thursday’s strategic North American Financing.

Attracting US$2.75 million from Strategic US investors is a very positive sign. These investors understand the resources sector and will very probably have a good idea what the drilling results will confirm. Good to have investors who are long term and looking for the big prize. A raise at a discount to the current share price which hasn’t caused a fall in the share price is an impressive achievement and Oliver is to be commended for this achievement.

We saw 3x 50000 buys one at 19.25p and the others at 19.4p by 8.12am. We then had a 100000 buy at 19.25p 2 hours later. Those could well have been the buyer we have seen for sometime now. The volume today was 942000 from 55 trades which is the first time in 14 trading days the volume has been less than 1 million and less than 1/3 of yesterday’s 3.2 million.

Perhaps the mm’s are struggling to shake enough shares free to feed the buyer at this price. If the buyer still wants to keep buying in the volumes we have seen the mm’s will need to move the sp up again to encourage some sellers and the buyer will have to pay a higher price. Let’s hope the days of being able to hold this below 20p are coming to an end.