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Now Up 16.2% at 21.5p as the volumes moves above 1 million. A very impressive end to the month looks in store bearing in mind we were 15p on the first of May.

Now `up 10.8% at 20.5p on volume of 416000. GMET has the largest Tungsten deposit on US soil and just look at the size of the Tungsten market as per PaulFG’s post. After todays rise the market cap of GMET is only £20 million, when the value of Pilot Mountain is likely to be so many multiples of that market cap it’s difficult to put a figure on it. If this 5 bags from here that’s still only a £100 million market cap.

20p breached now Up 9.46% at 20.25p.

Currently Up 6.76% at 19.75p on volume of 155000. 20.7p which is above full ask of 20p has been paid twice.

The payment is in shares not cash so no drain on the company’s resources and if it all goes tits up he will get nothing. Move along nothing to see here and let them get on with the sale,

Deramping traders hard at it again this morning led by harrycarter who has sprung up in recent days to only post negatively about CHAR. It is a long running problem for CHAR that the share price is manipulated by traders.

PaulFG I am expecting fireworks when some positive real hard news lands. I like the companies prospects and am very impressed by OF. I imagine that when Rick Rule took a stake in POW he was impressed inter alia by the assets that now sit in GMET. Rick Rule when making investments particularly speculative investments is looking for at least a 10 bagger if it succeeds. The Pilot Mountain Tungsten project on its own has the strong possibility of a 10 bagger and the other assets have Very good prospects. It would not surprise me if this achieved a £100 million market cap in the next 12 months, but clearly that is not intended as investment advice. I just look at Sovereign Metals with its world class deposit, Rio as a large shareholder and a market cap of £170 million and wonder if Pilot Mountain could follow a similar path.

Pilot Mountain Nevada - Project Development Update

Golden Metal Resources plc (LON:GMET, OTCQB:GMTLF), a strategic development and mineral exploration company focused in Nevada, USA, is pleased to announce an update from the Company's 100% owned flagship Pilot Mountain Project ("Pilot Mountain" or the "Project") located within the prolific Walker Lane Mineral Belt in Nevada, USA.

In parallel with accelerated exploration, notably diamond drilling of key targets which is now underway at Pilot Mountain, the Company is looking to also accelerate development of the Project, using the current Mineral Resource Estimate ("MRE") as the initial basis for planning.”

The news flow continues following the Garfield RNS a week ago we now have further acceleration at Pilot Mountain:

“ Oliver Friesen, CEO of Golden Metal, commented:

"We are very pleased to officially have Bara Consulting, Snowden Optiro, Bomenco Engineering and Westland engaged as we continue pushing our flagship Project forward at pace. While the exploration and drilling workstreams have taken centre stage over the last few months, in the background we have been working on various development workstreams and can now confirm that they are moving forward in parallel with the ongoing exploration initiatives, including active drilling.

"The tungsten landscape continues to evolve rapidly and there have been several developments over the last few weeks and months which have further increased our excitement surrounding our flagship tungsten Project. Tungsten prices have not only increased substantially and are currently sitting at an impressive $365.5 USD/mtu WO3 but more recently, the US announcing a 25% tariff on Chinese tungsten imports (with effect from 1 August 2024), further increasing the attractiveness of American mined and processed tungsten.

"We look forward to providing more updates on the various development workstreams as well as the ongoing exploration & development drilling which is progressing well."

This has been well received by the market as GMET now number 12 on the Leaderboard Up 9.38% at 17.5p on volume of 643000.

“Pilot Mountain Nevada - Project Development Update

Golden Metal Resources plc (LON:GMET, OTCQB:GMTLF), a strategic development and mineral exploration company focused in Nevada, USA, is pleased to announce an update from the Company's 100% owned flagship Pilot Mountain Project ("Pilot Mountain" or the "Project") located within the prolific Walker Lane Mineral Belt in Nevada, USA.

In parallel with accelerated exploration, notably diamond drilling of key targets which is now underway at Pilot Mountain, the Company is looking to also accelerate development of the Project, using the current Mineral Resource Estimate ("MRE") as the initial basis for planning.”

The news flow continues following the Garfield RNS a week ago we now have further acceleration at Pilot Mountain:

“ Oliver Friesen, CEO of Golden Metal, commented:

"We are very pleased to officially have Bara Consulting, Snowden Optiro, Bomenco Engineering and Westland engaged as we continue pushing our flagship Project forward at pace. While the exploration and drilling workstreams have taken centre stage over the last few months, in the background we have been working on various development workstreams and can now confirm that they are moving forward in parallel with the ongoing exploration initiatives, including active drilling.

"The tungsten landscape continues to evolve rapidly and there have been several developments over the last few weeks and months which have further increased our excitement surrounding our flagship tungsten Project. Tungsten prices have not only increased substantially and are currently sitting at an impressive $365.5 USD/mtu WO3 but more recently, the US announcing a 25% tariff on Chinese tungsten imports (with effect from 1 August 2024), further increasing the attractiveness of American mined and processed tungsten.

"We look forward to providing more updates on the various development workstreams as well as the ongoing exploration & development drilling which is progressing well."

I would draw the attention of investors to the heading of Yesterday’s RNS:

“ Gas Discovery at OBA-1 Well

Successful drilling campaign on Moroccan onshore licence”

The Derampers are suggesting CHAR are not being enthusiastic about the Gas discovery which is clearly nonsense. They will shout this from the roof when they have completed their analysis and conducted flow tests, which is the appropriate course of action for a professionally run company.

CHAR closed down 1.22% at 8.88p on volume of 14 million. There was then a trade after the close a 250000 Buy at 9.5p. It is a pity CHAR seems to be such a leaky ship and the 15% rise occurred on Friday instead of today on the actual release of the news. Let’s hope it starts to build from here as we await flow test results as it seems ridiculous that this is still under 10p.

From the 18th October 2022 Quarterly Business Update:

“ The Wilan Project (previous name Gawler Project) is held within Power Metal Resources Australia Pty Limited ("Power Australia"), Power Metal's wholly owned operating subsidiary company. The Wilan Project was originally comprised of two licence applications (submitted October 2021 and covering 1,994km2).

One licence application (ELA2021/00163), covering 999km2, was formally granted in August 2022 under the new licence reference EL6819. Internal technical work by Power Metal confirmed a potential Iron-Oxide-Copper-Gold ("IOCG") target within the EL6819 licence footprint which is under further investigation.

In addition, Power Australia has been advised that the Department of Energy and Mining ("DEM") proposed granting of licence application ELA2021/00162 (995km2) for a period of 6 years. The initial expenditure commitment for the licence is AUD$100,000 in total over 2 years, and Power Metal has paid AUD$23,465 in respect of first year rent and administration fees to the DEM. The Company now awaits final regulatory sign-off and release of granted licence documentation.

Internal technical review by Power Metal has established potential diamond and uranium exploration targets within the licence footprint for ELA2021/00162. These targets are the subject of ongoing review.”

POW has not invested a lot of money in this so let’s see how this pans out. It looks promising as its focus is Uranium and Copper just at a time when both are very sought after.

“ In accordance with the Board's stated intention of returning cash to shareholders, in addition to the special interim dividend of 30 pence per share paid by the Company on 26 April 2024, the Board today declares a second special interim dividend of 12 pence per share, equivalent to, in aggregate, £5.5 million (the "Second Special Interim Dividend").

The Second Special Interim Dividend will be paid on 21 June 2024 to shareholders on the Company's register of members at close of business on 7 June 2024. The Company's shares will go ex-dividend on 6 June 2024.

The Second Special Interim Dividend will result in the Company having returned approximately 64 per cent. of the Company's NAV as at 28 February 2024 (being the date on which shareholders approved the managed wind-down of the Company) to shareholders by 30 June 2024 through special dividends. The Board and Investment Manager expect the remainder of the Company's portfolio to be realisable at least at carrying value and the Board expects to announce a third special dividend in July 2024.”

RNS:

The Wilan Project ("Wilan") Crystallisation Event

NHM Holdings (Australia) Pty Ltd ("NHMHA") acquired by Aruma Resources Limited (ASX: AAJ)

Power Metal Resources PLC (AIM:POW,OTCQB:POWMF), the London-listed exploration company seeking large-scale metal discoveries across its global project portfolio announced a Merger Agreement (the "Merger") on 15 December 2022. The Merger included Power Metal's Wilan Project and additional licences in Mt Isa region of Queensland to form NHMHA with Power Metal owning 20% of NHMHA Issued Share Capital. NHMHA created a Uranium / Copper focused vehicle.

Following successful completion of due diligence, ASX listed Aruma Resources Limited ("Aruma") (ASX: AAJ) announced a conditional agreement for the acquisition of 100% of NHMHA on 27 May 2024, providing Power Metal with exposure to Uranium and Copper exploration potential on the ASX Markets.

Sean Wade, Chief Executive Officer of Power Metal Resources plc, commented:

"I am very pleased to be able to report an important crystallisation event in respect of the NHMHA acquisition by Aruma Resources. This further demonstrates the value of our incubator model and how it serves to add value to shareholders. This transaction represents a continued streamlining of our portfolio and allows for concentration on our highest-value opportunities".

Gas Discovery at OBA-1 Well

Successful drilling campaign on Moroccan onshore licence

Chariot Limited (AIM: CHAR), the Africa focused transitional energy group, is pleased to announce the results from the drilling of the OBA-1 well on the Dartois prospect, the second of a two well drilling campaign, in the Loukos Onshore licence ("Loukos") onshore Morocco (Chariot, Operator 75%, ONHYM, 25%).

· OBA-1 well was safely and efficiently drilled, on time and on budget, to a final measured depth of 901m through the target reservoirs.

· Following comprehensive evaluation of the well data, including wireline logs, cuttings and gas data, preliminary interpretation:

o confirms the presence of reservoirs over an interval of approximately 200m gross thickness, corresponding to the pre-drill targets; and

o within which an approximate 70m gross interval of primary interest has been identified containing elevated resistivities coincident with elevated mud gas readings, indicating potential gas pays, with no water-bearing reservoirs identified.

· Further post-drill analysis will be conducted in preparation for well flow testing which will determine the well productivity and the gas resource potential of the discovery.

· The well will now be suspended to allow future rigless flow testing operations and potential use as a producer well and the rig will then be demobilised.

I agree with sakura7. It is stated clearly that they would expand in all 3 jurisdictions and that could include acquisition. Early on he talks about now successful the Hub and Spoke operations have been in Nicaragua but they have spare capacity to process 1 million ozs which they want to utilise.

We know discussions took place in the past about toll milling at Calibre’s facility. It is in my view an absolute no brainer for Calibre to acquire CNR which would take them to a mid tier 500000 ozs per annum in short order. As he mentions a move to 500000 ozs+ should result in a significant rerate of the whole company so it’s a win win situation.

Following the 15% rise on Friday and todays report in Moroccan News :” Chariot Oil & Gas Finds Major Reserves in Northern Morocco

Chariot Oil & Gas estimates 12 billion cubic feet of gas reserves in Morocco’s Dartois field, with plans for further drilling.

It seems certain there will be an RNS on Tuesday morning followed by a rise of more than Fridays 15%. CHAR should power above 10p and the long overdue rerate should be underway.

Randy Martin has just gone below 3% it does not mean he has sold his holding which was 7.15 million shares. So selling 267500 is an insignificant amount.

TEK eventually responding to the 13% rise at SALT. Currently Up 3.63% and finally back to 10p.

Extracts from the Chairman’s Statement:

“ By way of an update on the sales process as at 16 May 2024 there are currently eight companies under Non-Disclosure Agreements (NDAs), five non-binding offers received and three site visits completed. Although none of the non-binding offers have progressed to firm proposals to date, the Company is in advanced discussions with one gold producer, while 2 other parties are actively reviewing the Company's assets. The Board is optimistic that a sale will be concluded in the near future.

Wholly owned, fully permitted, construction ready gold mines, with a Feasibility Study completed, with potential production of 150,000 oz gold per annum, in major Gold Districts, with the land acquired and a new SAG Mill package purchased are rare and in demand by gold producers replenishing depleting reserves.

We are very aware of the value of our assets and will not allow them to go at anything other than a fair price.“