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GMET has come off earlier highs and is currently Up1.67% at 30.5p on volume of 400000 with sell volume slightly exceeding buy volume by 20000. I would speculate that we have seen some profit taking at the 32p level because at that price investors in from last years IPO at 8p will have just achieved a 3 bagger. This would be a prudent move but has a positive effect for others as it frees up some stock for the next move up.

A small 1608 share buy has just gone through at 6p.

Last Buy at 5.9975p they are trying very hard to stop 6p! Once 6p is breached it could start to move quickly under this buying pressure.

Up 11.9% on volume of 3.4 million nearly all buys. 5.99p has just been paid so it looks as if 6p will be breached very soon and the share should tick up again.

The point of interest is how quickly GMET is rising on low volumes. Yesterday’s rise of 7% was on volume of 215000. Todays 6.67% rise is on volume so far of 152000 with buy volume only slightly ahead of sell volume. I imagine the free float is getting smaller and smaller as many small investors are accumulating rather than trading. When an RNS lands which starts to confirm the serious value here from the analysis of the drilling results , we could be in for an even more impressive rise than the one we have had in recent weeks.

I am not a geologist so I am just assuming that as Oliver has posted those pictures of the core samples , they are impressive. The fact that GMET is now Up 7.14% at 30p suggests the market likes what it sees.

Both GMET and POW are currently Up 3.6%. GMET is currently at 29p with the Ask at 30p. One would imagine there will be some news from Pilot Mountain this week and GMET will be getting publicity at Rick Rule’s Investment Conference which started yesterday. It seems that a move to 30p and above is highly likely during the course of this week as US market is targeted.

Firstly the formal notice from RIO that following the exercise of their option last week they now hold 19.76% of SVML’s shares.

Secondly the shares are now listed in the US on the OTCQX in addition to its listings in Australia and the UK. SVML already has a large US investor in Sprott and this new listing will make it easier for other US investors to join the party.

Frisby has just updated his sub stake with an article on the frustrations of investing in gold companies. This is what he said about Condor:

“ And then there’s Condor Gold (CNR.L/COG.TO). Here we have a mine that is “shovel ready” and good to go. Two and half million ounces at an average grade of 3-4 g/t - i.e., very mineable. There’s a $1 billion company sitting right next door that needs ore for its mill, a mill that is only operating at something like 20% of capacity. “Fill the mill,” its investors are screaming. It’s such an obvious buyer of Condor, one of those rare “value-accretive” deals, to use the language of LinkedIn, by which everyone wins. Condor’s management, with whom I normally have ongoing dialogue, suddenly stopped replying to my messages. “We can’t talk,” was all I got. Again, I was sure the company was about to be taken out. Six months later, the company is sitting there with its lipstick on, trying to look seductive to a next-door neighbour that doesn’t look interested.

God, this sector is frustrating.

I know what’s going to happen. I’ll abandon ship, and then every single one of these companies will suddenly work. Gold mining more generally will suddenly take off—a flight, by the way, that is long overdue—and I’ll have lost my seat on the plane. So we keep on holding. And waiting.

The words “another very successful campaign “ relating to several targets across Pilot Mountain and Garfield can only be seen as very positive. The company is looking forward to the final results and as they will use them to guide next steps presumably for the current drilling programme we should not have to wait too long. I think the RNS’s will be coming regularly and that they would very much like to have something value enhancing to announce before or during Rick Rule’s conference which starts in a few days.

Both POW and GMET have issued new shares to strategic investors at a small premium to the share price at the time. This is advantageous to the company because the company receives cash. An on market purchase may well be good for confidence and the share price but it gives no cash to the company. But if Rick Rule does make an on market purchase to increase his 4% holding I certainly won’t be complaining.

I agree with what you say but think Rio will move sooner than 18 months. We had yesterday the exercise of the option for Rio to go to 19.9%. If we return to the original investment RNS we can see what comes next:

“ Operatorship of Project and marketing) Following the Company announcing a DFS for the Project until the Investor End Date, Rio Tinto has the option (Rio Tinto Option) to be appointed as the operator of the Project on arm's length terms and subject to Rio Tinto becoming the operator of the Project, be granted the exclusive right to 40% of the annual production of all products produced from the Project as identified in the DFS for so long as Rio Tinto remains the operator of the Project. This right is subject to any approvals required by law (including any securities exchange) and/or government or other regulatory approvals.” That end date is 90 days from DFS but can be extended to 180 days at Rio’s request.

My view is that Rio will not want to be the operator for someone else but that they will want to fully own and control this massive world class resource. It would seem likely that Rio would choose to make a full bid when the DFS is released or even before as they would want to get in before another large miner starts to take an interest.

I don’t think there is any doubt that they like what they see on the ground particularly with the pilot plant well underway.

The market likes it too Up 11.94% at 37.5p on volume of 56000.

GMET features strongly and in glowing terms as POW’s most successful investment accounting for 60% of its NAV. All the comments were from Sean who was very complimentary about Oliver. The interviewer did ask Rick to specifically comment on GMET and to put that in context Rick didn’t specifically address any of POW’s individually. Rick was more focused on how he like POW’s merchant banking model. Worth watching.

I saw this post on the POW BB yesterday:

“ Stockbox Upcoming Interview with Sean Wade & Rick Rule1 Jul 2024 14:24

Mark Fairbairn (from Stockbox) has just announced on X that he is teeing up an interview today at the Mining Journal Select in London between Sean Wade & Rick Rule.

Hopefully video footage is available later on today or tomorrow.”

Presumably they intend to discuss POW and as GMET is POW’s most valuable investment they will get Rick to comment on GMET.

There is a fairly recent interview of Sean Wade by Rick Rule available on utube as Rick Rule interviews all the companies invited to his upcoming conference in Florida next week. It is very reassuring that Rick holds over 4% of POW and that it will be getting great exposure at the biggest and best mining conference in the world attended by the Legends of the mining industry.

Following an 8% rise in Australia SVML closed here Up 6.35% at 33.5p on volume of 56000. Interesting to note that the last trade of the day was a large part of the volume a 25000 Buy at 35p so let’s see how it opens in Australia. Rio have to decide whether to exercise their option for a further 5% this month and it seems the market is confident Rio will be exercising as indeed am I.

GMET currently Up 5.56% at 28.5p on volume of 160000. A new all time high at the start of July. If the good news continues at Pilot Mountain it will be interesting to see the share price at the end of July.

RNS

“ Oliver Friesen, CEO of Golden Metal, commented:

"We are delighted that we have been upgraded to the OTCQX Market, which is a reflection of the positive momentum the Company continues to build within the US markets and abroad.

"The Company anticipates a series of operational and corporate news announcements to the market over the coming weeks and months, given the extensive operational activities underway and planned in the field."

About OTCQX

The OTCQX Market is designed for established, investor-focused U.S. and international companies. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws. Graduating to the OTCQX Market marks an important milestone for companies, enabling them to demonstrate their qualifications and build visibility among U.S. investors.”

This is a very positive step to encourage more investment from US investors.

GMET moving into the top 10 on the Leaderboard. Up 7.69% at 28p.

The UK market clearly likes today’s news as clearly more US investors can only be good for the share price.

It will be interesting to see what happens when US markets open.

Once again it is disappointing that POW is not reacting to the GMET rise in its share price .

Now moving into the top 10 on the Leaderboard. Up 7.69% at 28p.

The UK market clearly likes today’s news as clearly more US investors can only be good for the share price.

It will be interesting to see what happens when US markets open.