Member Info for ICB888

“ 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.

When I said FT\IC I access it via the Investors Chronicle website as I am a subscriber. IC is part of FT so I think the information comes from the FT.

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%.

The opportunity to top up close to the placing price seems to have passed. Currently Up 8.46% at 7.375. Full ask of 7.5p has just been paid.

The last 3 RNS were issued at 7am, 2.49pm and 5pm. So the RNS could land literally at any moment of the day. Let’s hope some of the traders get caught out.

I am very pleased that Ed has taken up the first part of the suggestion I made yesterday:

“ The only responsible action for SEED now in the best interests of long suffering shareholders is to make a large special dividend based on NAV. Actually I would advocate it follows DSM and conducts an orderly wind down of the company distributing cash as it becomes available. DSM has an NAV of 67p per share and shareholders are about to receive the first cash dividend of 30p per share.”

I would now like him to consider the second part of my suggestion particularly if this dividend does not massively narrow the persistent discount to NAV. The share buyback scheme has been a complete failure in improving the share price and would have been better spent by retuning the money to shareholders in a dividend.

GMET have issued a very positive RNS this morning”

“ Large Magnetic Anomalies Identified Within High-Grade & Power-Line Zones

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

A recently completed ground magnetic geophysics survey has detected significant anomalies coincident with the Project's Power Line Zone and High-Grade Zone target areas where previous rock and soil sampling fieldwork confirmed the presence of significant porphyry and epithermal style mineralisation.”

SEED Innovations Ltd, the AIM-quoted company investment company providing shareholders with exposure to early-stage health, wellness, and medical cannabis companies, to which, in normal circumstances they have limited access to, is pleased to announce that it has received the remaining circa £2.4m (€2.76m) from the sale of its portfolio company Fralis LLC, trading as Leap Gaming.

Leap Gaming was sold in April 2023 (see RNS dated 11 April 2023), with SEED's proceeds of the sale totalling €5.8 million payable in two tranches. The first tranche of €3 million (£2.7m) was received on completion of the deal and the balance was received on the 12 April 2024.

The Leap Gaming sale has contributed to SEED's strong cash position of over £6m, which remains higher than its market capitalisation.

Commenting on the announcement, Ed McDermott, CEO of Seed said: "With an additional £2.4 million in cash in the bank, our financial position is exceptionally robust. Despite ongoing liquidity challenges in junior stocks, the investment landscape continues to offer compelling opportunities. Accordingly, we are committed to identifying innovative investment opportunities that will benefit our shareholders. Our primary objective is to enhance shareholder value, and we anticipate unveiling several strategic initiatives aimed at achieving this goal in the near future. We are confident that these initiatives will be well-received by our shareholders."

SEED’s cash now exceeds its cash. The only responsible action for SEED now in the best interests of long suffering shareholders is to make a large special dividend based on NAV. Actually I would advocate it follows DSM and conducts an orderly wind down of the company distributing cash as it becomes available. DSM has an NAV of 67p per share and shareholders are about to receive the first cash dividend of 30p per share.

A further 578000 warrants exercised this morning raising a further £62000 for GMET.

Paul

I had been listening to that Kitco interview and was very pleasantly surprised that the main stock he specifically highlighted was GMET. The guy is a regular contributor on Kitco and elsewhere and is clearly enthusiastically promoting it to his clients and investors generally. It is very beneficial to have GMET promoted to US Investors as they should be keen to invest in Nevada. The arrival of the US Government grant should be a game changer and the guy in the interview seemed of the opinion it will come because the Tungsten is such a strategic asset. OF has mentioned many uses for Tungsten but this guy mentioned one I hadn’t heard mentioned which was bullets. The current state of the world suggests bullets are a much sort after product.

Just to make the point in a very straightforward way I think it is an undeniable fact the CHAR is in a much better position than it was a year ago particularly with the latest milestone of ENOG becoming the Operator. However this is not reflected in the share price because on April 13th 2023 CHAR closed at 18.15p, almost double the current share price.

This makes absolutely no sense and this should rerate to that level being the highest placing price (18p) to put those placing shares back in the money. All the analysts estimates are at a much higher level between 35 and 57p, with Malcy still at £1 plus. Interesting Times.

Searcher

I very much endorse your conclusion. Over the many years I have been invested in this I have stated my belief that they will not make the final submission until they know it will be approved. It seems we are very close to that point. It’s the way these things work, extensive dialog with the government to ensure it meets all their requirements. The Government will know exactly what’s in the proposal before it’s formally submitted essentially for rubber stamping.

I hope it’s very soon and before any fund raising in order to minimise dilution. But I agree with you that I would not be concerned if they raised £1 million next week at 8p although with the current level of interest I don’t think they need to discount it from the current sp. I think they could easily raise the money on primary bid without having to go to the usual placing people.

The very large trades at 8.25p would appear to be late reported trades from earlier in the week as they are not affecting todays trading and are way below any price we have seen today.

Very strong buying has blasted this above 10p UP 7.68% on volume of 4 million.

Up 6.4% very close to 10p at 9.98p on volume of 2.3 million.

As Gold reaches another All Time High let’s just revisit the value of Condors Gold as set out in this summary of the BFS in September 2022 and is the basis for the current sale process:

“ The Company's strategy has been to develop the fully permitted La India Project in 2 stages using the new SAG Mill that has already been purchased. The delivery of a Feasibility Study on La India open pit with an average of 81,524 oz gold per annum for the initial 6 years for a relatively low total upfront capital cost of US$106 Million is a landmark and further de-risks the Project. At US$1,600 oz gold, the La India open pit Mineral Reserve produces total revenues of US$888 Million, the total operating costs of mining, process and G&A are US$480M, leading to an operating profit of US$408 Million or a 46% operating margin. After government and other royalties, but before sustaining capital, the operating profit is US$355M, which in Condor's opinion is ample to repay any project debt on the relatively low upfront capex. At US$2,000 oz gold after paying royalties, but before sustaining capital the operating profit is US$563 Million. In reality, two permitted high grade feeder pits will be added during the early years of production thus increasing production ounces of gold. Early production is targeted at 100,000 oz gold p.a..”

The highest Gold price used was 2000 and gold is now in touching distance of 2400 and the futures moved above 2400. That additional $400 per oz is all profit which must make CNR a very attractive prospect at an ever increasing price.

Are we going to see some buying into the close and late reporting after the close like yesterday.

Today’s rise has taken the market cap back above £100 million. This will make it more investable for II’s who will also like the fact that now ENOG are fully on board to bring the assets to production they are essentially investing in the ability of a £2 Billion market cap company with a successful track record.

The 5 analysts offering 12 month price targets for Chariot Ltd have a median target of 39.10, with a high estimate of 58.25 and a low estimate of 35.11. The median estimate represents a 350.42% increase from the last price of 8.68.