Member Info for ICB888

There is a late reported trade just after 6pm of 1000 shares at 32p. I hope that is an indication of where it’s going to open tomorrow !

A holdings RNS was issued after the close relating to a minor decrease in POW’s holding in terms of percentage. POW have not sold any shares and the change is due to the recent exercise of warrants leading to new shares being issued thus increasing the total number of shares in issue. POW have a significant number of warrants they could exercise which would increase their percentage holding again. I suspect that if the US Government grant doesn’t come fairly soon Ollie will be asking Shaun to exercise the warrants to further boost his cash. Ollie has had cash recently from a strategic investor and the exercise of warrants so he is well funded in the short term to get drilling underway . He will be wanting the Grant funds so he can ramp up the drilling when his permits arrive. Exciting times with regular news to look forward to.

From Malcy’s Blog today:

Chariot

“ Firstly today apologies, in the Bucket List on Friday Chariot was omitted from the text although was tagged in the header. The piece got lost between Word and WordPress, my apologies!

Chariot remains in the list as it is on the threshold of significant progress with both its operations in Morocco and has addressed the funding of the Transition Power division by way of a strategic review. Here, power and water solutions in Africa are being addressed and renewable energy generation with particular respect to South Africa, where interest has already been expressed and given differing differing funding solutions are required, that is understandable. At Loukos drilling is imminent and if successful would be fast tracked to development, at Anchois Chariot are working with Energean to progress further drilling this year. All this leaves me confident that there is substantial upside at Chariot.”

This is the concluding part of the article:

“ Reflecting the strong start to the new financial year, Singer Capital Markets predict a step change in profitability, pencilling in 162 per cent growth in cash profit to $16.8mn on 16 per cent higher annual revenue of $53.5mn. The forecast doubling of cash profit margin to 31 per cent reflects a four percentage point improvement in gross margin to 90 per cent), the benefit of cost savings and the operational leverage of the business.

Moreover, with Bang forecast to be cash flow positive in 2024, Singer have reduced the interest charge in their financial models and raised their 2024 pre-tax profit estimate by 8 per cent to $5.7mn, thus reversing last year’s $7.8mn pre-tax loss. On this basis, expect earnings per share (EPS) of 7.3c (5.8p).

Rated on seven times 2024 cash profit estimates to enterprise valuation, and given the upbeat start to this year’s trading, Bango’s share price rally is likely to gather momentum. Buy.”

Up 2.7% at 28.5p. I can sell at that price but can’t get a live quote to buy on II at present.

They did say on the event announcement on the website that a video would be posted after the event but so far there is no sign of it.

The Directors clearly believe this is very undervalued. There have been 8 Director purchases this year with 5 of them in March. The current recovery in commodity prices particularly gold, which TRR has much of its current income from, will soon start to show in its financial statements. TRR is very undervalued and it’s time for that to correct.

Very good point Happydays. The current sp is only getting us back to where we were at the beginning of January and you have to back to early October since we were last above 7p. This should rerate quickly now as milestones start to be ticked off.

Ardbeggar

The biggest driver at the moment is the rise in the copper price which will be very beneficial for JLP as it ramps up its production of copper.

Now Up 4.69% at 6.7p on volume of 3 million.

Many thanks bobbust for your report.

Anything else of note from the Proactive event?

Usual manipulation by the MM’s who marked it down on the Uncrossing Trade to 8.43p which is below bid/ offer 8.6/8.7.

So today’s gain is shown as 1.44% when it had been up 3.5% until the UT. It creates a false impression of the progress made today and will be marked up on the opening to where it should closed being the Mid price 8.65p. Apologies for the rant but it happens frequently and it irritates me!

Equinox Gold has certainly done well recently. I purchased it at the beginning and end of January for my wife’s SIPP and it is currently UP 33%. If you look at Calibre it dipped a month ago but over the last 3 months it is Up 41%. I have been pleased to see CNR’s gains in recent days because it has been frustrating to have capital deployed in CNR while many gold stocks were starting to see good gains on the back of record gold prices. I am however increasing hopeful that the sale is close and we will see a rise in price that will exceed gains we may be making in other gold companies.

Paul

On reflection I think your interpretation is correct.

Todays Warrant exercise has effectively created a 10% shareholder:

“ Following Admission, The Mega Company will hold 4,411,764 ordinary shares, representing 4.77 per cent. of the Company's enlarged issued share capital, and Ms Chang Turkmani, who has an interest in The Mega Company ,will have a total interest in 5,217,646 ordinary shares representing 5.64 per cent. of the Company's enlarged issued share capital.”

That is a significant vote of confidence in GMET.

First Class Metals in which POW is the largest shareholder with 23% is up 3.5% in early trading upon release of a positive RNS:

“ Highlights

First Class Metals (FCM) has signed an exclusivity agreement with a Canadian vendor for the Kerr's Gold Project in Northeastern Ontario. This project holds a historic resource estimate of 386,467 Oz (ounces) of Au (gold) as per the NI-43-101 standard.

· CAD$200,000 OJEP Grant received from the Canadian Ministry of Mines for the Zigzag lithium & critical metals property.

· Goods and Services Tax (GST) /Harmonized Sales Tax (HST) credit for the year ending 2023. The amount received totalled CAD$212,780.03.”

My apologies here is Oliver’s statement from Today’s RNS:

Oliver Friesen, CEO of Golden Metal, commented:

"We have taken another important step towards the commencement of this very important drilling programme at our flagship Pilot Mountain Project. We have spent the better part of a year preparing exploration and resource expansion targets and we feel very confident with the targets that are now being finalised.

"Since day one we have prioritised working with Nevada specialists when it comes to all aspects of our various exploration programmes and we are delighted to be working with Diamondback, a company with extensive experience drilling in the mining friendly state of Nevada.

"We are working very hard behind the scenes to finalise all final programme details, and further updates can be expected in due course."

I listened to an interview with a Calibre SVP recorded 4 days ago. During the interview he says how successful the Hub and Spoke approach had been in Nicaragua where they have been growing production at 28% per annum. He also mentioned that they have spare capacity to process an additional 1 million tons.

It would appear to be a complete no brainer for Calibre to buy CNR as they could start production almost immediately and it would get their Nicaraguan operations to their target of 500000 ozs per year in the next 12 to 18 months but making good money almost immediately at the current high gold price. I think we know where they should utilise the US$100 million facility they have just raised. They did so because it was a good opportunity that arose due to the current gold price and they have not stated a specific use for the money. Interesting times and personally I would be happy to take Calibre shares as I am seriously considering buying some anyway.

RNS Drilling contractor appointed at Pilot Mountain.

“ Oliver Friesen, CEO of Golden Metal, commented:

"We have taken another important step towards the commencement of this very important drilling programme at our flagship Pilot Mountain Project. We have spent the better part of a year preparing exploration and resource expansion targets and we feel very confident with the targets that are now being finalised.

"Since day one we have prioritised working with Nevada specialists when it comes to all aspects of our various exploration programmes and we are delighted to be working with Diamondback, a company with extensive experience drilling in the mining friendly state of Nevada.

"We are working very hard behind the scenes to finalise all final programme details, and further updates can be expected in due course."

POW own 61% of GMET. GMET currently Up 7.41% at 14.5p on volume of 171000