Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
"All metals have their highs and lows, but nothing like a gold run to get the blood flowing and the chattering classes chattering.
It is welcome of course, but we will as always err on the side of caution and not let the froth and bubble distract us.
No doubt we will now see a slew of junior miners suddenly change their names to include "gold" in the title. We will see them all scramble to find some gold project to whack a hole into. We will find that almost all of these will have been around the block a few times and seem to get wheeled out every time the metal price bobs its head up.
But ours were in place before anyone cared, and have yet to complete their first lap of the block. Having that head start, as much by luck as design, may give us an edge - we shall see."
It's been very difficult to buy in any quantity recently. On Friday afternoon, I had to divide £7k into two parts, for it to go through; the same again, this afternoon. On ii, both times.
I expect the share price to drift sideways, until further news. But most long-term shareholders must be happy to be where we are; I certainly am.
Hi, Chicken and Dr,
I think it is worth putting the tweets on here. It's easy to assume that everyone else knows the same as oneself; but often that's not the case.
I will do the copy and paste myself in future, unless I'm busy teaching, which takes priority.
some of you may have read this already, but for those who have not, here it is. it repays close attention.
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"it is probably worth pointing out that pepas may not necessarily be the best prospect at anzá, but it is the best place to start.
ultimately, as a junior miner we are utterly dependent upon the market’s preparedness to fund us – and at the moment, that is at a low ebb. we need somehow to differentiate ourselves from the dross.
there is probably something close to a decent resource at apta, but it is geologically complex and was never going to be of sufficient scale for mma and so they quite sensibly (from their point of view) looked elsewhere. we are pulling all those data together into 3d models to try to get a better sense of what we are dealing with and where (if) we can add high grade ounces and perhaps in time move to a 43-101 resource.
at el roble and el cedro, we think we have a major gold porphyry system. we see all the right rocks, the alteration, the place is dripping in sulphides and ****nic (that’s a good thing), brecciation, pervasive silicification and we see swarms of gold bearing quartz veins. but it is large (2km x 2km in rugged terrain) and thus where do we start? given our teams have never been there and did not collect these recent data, we need a few months to verify and pull this together, and that field work will hopefully commence about the same time as we start to drill at pepas.
and so, in the meantime we need to get runs on the board, especially with a hot gold market. having a walk-up drill target is (pardon the obvious analogy) worth its weight in gold. if that goes well, it buys us both time and credibility, and gives the market something tangible to hang a valuation on, while we add more value by developing the other targets.
and then there is el pantano, but that’s for another tweet."
At weekends, he walks the streets with a placard, saying "The end is nigh."
Hi, Masks
I think so. Valued at 4.3 two minutes ago on ii.
Apologies for having been less than polite to you yesterday. Mea culpa.
This was published on 16th February, but remains well-worth reading, because it contains some useful info about (i) Newmont's reasons for withdrawing from the Anza project; and (ii) Colombian politics, which are now looking much less menacing than a year or two ago.
https://mcusercontent.com/d9ebd7c1aa0f3dbc5fab42eca/files/cdeda7f2-f176-9f8a-18ca-47d36a7d7f07/OrosurMiningInc._Research_Update_16February2024__FINAL_BG.02.pdf
Hi, ST @15.30
I don't understand why either Masks (on the one side) or Leematt (on the other) are doing this. Why destroy one's reputation in a public place?
Chicken and Dr fall into a different category; they're long-term shareholders, and have earned the right to be bullish. And Legal's in a different category, he's intelligent, which is important in life. And Seingred needs no compliments from me.
And, to restore my reputation, here's the Lassonde curve, which tells you when to sell. Don't leave it too late; just remember that GGP has fallen from 35 to 6p.
https://miningexplained.com/the-lassonde-curve/
This is puerile stuff, but here we go.
Onward George's soldiers,
Marching as to war,
With the cross of Castro
Going on before.
I shall leave the composition of stanzas two and three to those with more poetic gifts than myself.
Hi, Karl
Thanks for the reply. You may be right about TPI; I don't know enough about it, to be honest. Wheels within wheels, etc.
Something I like about Brad is that he's an educated man; not everyone can quote Winston Churchill or George Bernard Shaw. This does not make him either competent or honest as a CEO; but it does make listening to him more interesting than it would otherwise be.
Hi, Zap
I too don't understand the timing of the fund raise. He should have done it after the announcement of the letter of intent; which would have got more money for the same dilution. One does wonder if he wanted to drive down the share price, in order to benefit his friends, family, or indeed himself, if he's into what I shall politely call indirect purchases.
I entirely support Brad's new policy of frequent communication. The silence he was forced into before crucified the share price. As he said in the interview on 25th March, "we will now be doing things differently."
I'm pleased to hear that the MMA team "are all gone now." The further, the better.
Hi, Predator
Well done selling this morning; you're better at this kind of thing than I am.
And yes, I agree with you about AIM CEO's and directors. OMI is worth buying at 4.75 or wherever we are; but it still annoys me that neither Brad nor Louis have put in any proper money of their own.
Mapp said something interesting, in line 5; "some win, and most lose."
I think this is true with these AIM shares; but false, if one buys an index tracker, and holds it for years or decades. Of course, there's a question of which index to track. The NASDAQ has outperformed the S&P500, and the S&P500 has outperformed the FTSE100.
But to anyone wishing for a stress-free life, with no need to think about shares, and lots of time for other activities, I recommend an index tracker.
Some people may be selling for tax reasons this week, either to record a loss, to be set against profits elsewhere, or carried forward; or, if they bought lower down, to use up the capital gains allowance.
The best thing is to get one's capital inside an ISA, and then one doesn't have to think about these things.
Those two trades of 100,000 at 14.17 and 14.27 look like someone using up his capital gains allowance before the end of the tax year. This is the week when people will be selling for tax reasons, to record a profit or a loss, if they are holding outside an ISA.
Hi, ICB
You have quoted the RNS from 25th March, not the one today.