Member Info for ICB888

Currently Up 1.47% at 17.25p. The largest trade of the day has just been late reported by 1 hour a 200000 Buy at 17.3p.

This steady daily rise is good to see and should continue for some time as we are only just getting to the level achieved last September when we saw a closing high of 16.99p and an intra day high of 18.29p. SCLP has clearly made considerable progress since last September so a move above 20p in the coming days should be highly likely.

There is something very exciting in the RNS:

“ Meanwhile, as also reported in the media over the past months, it is confirmed that the Bangladesh Power and Energy Ministry has prepared a presentation promoting the immediate development of the country's domestic coal deposits (including Phulbari). It continues to be reported that Bangladesh must develop its own energy resources to off-set expensive imported energy products with their inherent supply and cost risks.”

That is the Bangladesh Power and Energy Ministry essentially recommending the Green Light for Phulbari. We know this has been the prevailing view for some time but Hasina has always blocked it. Hasina has now gone and her insistence on importing Low quality Indian coal instead of developing high quality own coal at Phulbari will prove to have been a major part in her downfall. The new Government will rightly want to lay the blame for Bangladesh’s current economic and political problems on Hasina’s corruption(how is she going to explain all the coal imports from India). If Hasina had approved Phulbari when she should have nearly 20 years ago Phulbari would have been in production for years and Bangladesh’s power problems and hence economic problems would have been greatly reduced.

There is a massive political gain for the New Government in immediately approving Phulbari to start undoing the harm done by Hasina to the people of Bangladesh. The Green Light is looking very promising as a political and economic imperative for the new Government.

Up 3% to 17p from the open.

Hasina has caused great harm to the people of Bangladesh by insisting on importing dirty expensive coal from India instead of using cheaper much higher grade and less polluting Phulbari coal. It will no doubt soon come out about whether Hasina has been lining her pockets from Indian coal miners which she can now use in exile in India. The new Goernment would be well advised to approve Phulbari immediately to start undoing the wrongs of Hasina.

Sky reporting that Hasina has resigned and sought refuge in India. She is the person who has blocked Phulbari so this should be good for GCM.

Yesterdays interview of Oliver in New York prior to the bell ringing was very positive. Oliver hopes to release an RNS next week with the analysis of the first 2 drill results. He said they will group the drill results rather than 1 for each drill as it is very time consuming to collate the technical data taking about 8 hours to write each RNS. The expert Dr Carter has clearly been impressed and has assisted with drill locations. GMET is currently drilling 24/7 and its looking very promising to increase the resource hence the staking team that are working hard before they release the drilling results in more detail. Lots of regular news is promised.

“ Record gold prices of over US$2,400 oz gold in recent weeks compared to a US$1,600 oz gold price used in the Feasibility Study, materially improves project economics.”

The above is a key part of today’s RNS statement from Jim Mellon. Just remember the likely share prices talked about at the start of the sale process. At that time the most optimistic value placed on the company related to a dream scenario of gold at $2000. Jim Mellon at that time was saying he could see gold in the future at 2500 and even 3000.

Gold is now at the 2400 level and the trend remains upwards. The gold price is up $800 or 50% from the $1600 used in the Feasibility study. We all know that the rise in profitability is exponential to the rise in the gold price because that $800 is pure extra profit. If you need an example of how that works in Nicaragua just look at the mine next door run by Calibre which is throwing off massive amounts of Canada and funding their US and Canadian projects. No problems political or otherwise have been encountered by Calibre.

It has been a long and frustrating process but there are many reasons to believe our best expectations for the sale price can be exceeded as the gold cycle is now our friend and the bull market in gold equities is only now starting to get going.

There could be a case for investors who are currently sitting on a loss outside an ISA or a SIPP to take that loss now to bank it against future gains. You only have to be out for 1 month and then you can by in again. If you are concerned that something could happen in the next month(perish the thought a sale finally happens!) you could get your wife/husband to buy them in their account for a month. Just a possible explanation for selling prior to the rise in CGT that the socialists are currently not honest enough to own upto. They keep saying no tax rises for “working people” but without defining who they mean by that. I think most people who currently are liable for capital tax go to work but I have a nasty suspicion that those people will not be “working people” in the weasel words of the socialists.

Currently Up 4.69% at 33.5p having ticked up 3 times so far on volume of 255000. 34p full ask has been paid several times. If this sp holds it will be a new closing high. The sp has hit 34p intra day a couple of times earlier in the month but the highest close to date is the 3x it has closed at 32p. Investors have clearly been encouraged by yesterday’s positive RNS and are probably expecting increased US interest with the New York bell ringing accompanied now doubt by Oliver giving a number of interviews.

21 trades in the first 30 minutes of trading for a volume of 524000. Up 3.45% at 15p all Buys with 15.25p now being paid.

10 trades in the first 3 minutes of trading for a volume of 113000 all buys at 15p

It is unusual that Oliver hasn’t done an interview on the day of an RNS update. However as the interview live from New York has been highlighted for Wednesday he must be waiting until the bell ringing to give to give an interview. Clearly that makes sense as he should be able to get some good publicity in front of a US audience. This should be a good week and it would not surprise me at all if further news is released this week as I think I heard on a recent podcast that Oliver is going on a US road show and following on from the bell ringing that would seem an opportune time.

Currently Up1.75% at 14.5p on volume of 481000 from 31 trades with Buy volume exceeding Sell volume 5/1. The last trade was the largest so far today 100000 at 14.78p. It is certainly looking promising for 15p and a new recent high, having closed at 14.5p 3 consecutive days last week before closing at 14.25p on Friday. SCLP is still needs to rise over 100% to reach the analyst valuation of 33p.

Good start to the week Up 3.23% from 13 trades and volume of 62000 in the first 30 minutes of trading. Currently number 26 on the Leaderboard.

New RNS Pilot Mountain – Significant Porphyry Update

Oliver Friesen, CEO of Guardian Metal, commented:

"The findings by Dr Carter are very exciting as it is now clear that the underlying porphyry plumbing system, that we originally believed could exist at Pilot Mountain, could be much bigger than originally thought.

"These new findings build upon the visual results from drillhole PM24-002 and give geological confidence in the large anomalies identified by recent geophysical surveys.

"We are now working diligently with our technical team and Dr Carter to refine a number of drill targets into the large porphyry system now identified across Pilot Mountain, with the goal of making exciting discoveries that complement our very strategic in-ground tungsten-copper-silver-zinc resource at Desert Scheelite."

Some very positive news to accompany ringing the bell in New York this week.

Oliver Friesen, CEO of Guardian Metal, commented:

"The findings by Dr Carter are very exciting as it is now clear that the underlying porphyry plumbing system, that we originally believed could exist at Pilot Mountain, could be much bigger than originally thought.

"These new findings build upon the visual results from drillhole PM24-002 and give geological confidence in the large anomalies identified by recent geophysical surveys.

"We are now working diligently with our technical team and Dr Carter to refine a number of drill targets into the large porphyry system now identified across Pilot Mountain, with the goal of making exciting discoveries that complement our very strategic in-ground tungsten-copper-silver-zinc resource at Desert Scheelite."

Some very positive news to accompany ringing the bell in New York this week.

The sp is currently showing as down 5% at 13.75 on a spread of 13.5/14p. However the 11 am UT has just put 182000 shares through at 14.5p such that buy volume now exceeds sell volume. Strange goings on with the sp.

“We were also overwhelmed by the interest in the poster, which is the most significant response I have seen in my career."

In my opinion this is a clear heads up from Lindy that something big is coming down the tracks as she tells us about the “most significant response I have seen in my career”. That is an incredibly bullish comment which they have managed to include in an RNS. If investors fail to take notice of the significance of this comment they will only have themselves to blame when some big news is released and the sp moves rapidly to a new level. There are good reasons for the large investments from our 2 largest institutional investors who specialise in biotech and they are definitely looking for many multiples of 14p.

The sp tends to follow Australia which is the main listing. It was down in Australia but only due I think to the Australian market being down 1.2%.

Excellent progress . It’s proving the model and validating their claim that this is very cheap mining and will enable them to be the lowest cost producer.

Just some further comments following my post on the 18th July as another week has passed and 1 month tomorrow since the 25th June RNS regarding the Pilot Mountain - Significant interim drill update.

When then had a comment in the Pilot Mountain-Garnet update RNS on 9/7/24 which stated:

“ The Company has made significant drilling progress since its last update on 25 June 2024 and a further drilling update is expected to be released to the market shortly. Geophysics results from the Company's largest ever geophysical campaign are expected imminently and will be released to the market as soon as possible”

Oliver loves to issue news but by his standards ( not anybody else’s !)he has been rather quiet. Perhaps he is having a well deserved summer vacation but more likely he is working on a blockbuster RNS which could land at any moment.

Meanwhile GMET continues a slow rise on low volume,which is good as we await news.