Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
Yes, it's rather depressing. But very few of us invested here, because we knew about the geology of Molopo, or anywhere else. We invested, because we thought the CEO had good judgement, and knew what he was doing. I see no reason to change my opinion on this.
Hi, Karl
This doesn't rule out the possibility that he really does think it's elephant country. And as for my own agenda, it's to tell the truth, as I perceive it to be.
Hi, Legal
Ageos on the OMI billboard knows his stuff. But whether he would want to give his time up to POW, I don't know.
Hi, Ageos
Thanks for the last para.
Hi, Chicken
Some of the major factors at Anza are outside Brad's control. He can't choose where or when to drill; that's up to MMA. And some of the delay isn't his fault; it's the complexities of Colombian business and tax law, and Agnico playing hardball.
I'm in a minority of one in saying this, but I like having Brad as a CEO, and Louis as chairman. If I didn't, I wouldn't have put my money here.
Most people on this billboard are honest. We get a few who are not; and they are sometimes being paid, to push the price up or down. But they are found out, fast enough; and the rest of us know who we are.
Hi, Zan
It did cross my mind.
Hi, Aquae
April 1st is a Saturday; unless you meant next year, in which case it's a Monday.
Hi, Bhargav
Thanks for this, good to hear from you as always. Long ago, in the '70's, we used to run around the office, shouting out, "I'm looking for a bottom." It was a better age.
We're off the bottom now. Interest rates peaking and the gold price should provide a favourable background for company news.
Thanks, break
It's good to see someone flexible on his own opinion.
Hi, Break
I think this is too pessimistic. Drilling may well start again, before some convoluted Colombian legal process is concluded.
But I admit, optimism is my original sin.
It's an editing problem, as Mamba has implied. Louis (or Brad) forgot to change the verb tense from the present to the past.
"Two additional holes are currently underway from new pads in an attempt to better define the geometry of the mineralised body at Pepas," should read "two additional holes were then underway from new pads, etc" ("then" meaning "on 21st October").
Those holes were PEP008 and PEP009, and we received results from them on 2nd December.
I think we need Ageos to sort out this problem. If a hole was being drilled on 21st October, and is still being drilled today, that's three months (even allowing one week off for Christmas). Is this normal? It seems not. According to Ranger Drilling (Australia), "Diamond drilling is a slower technique than the other forms of drilling such as Reverse Circulation and Air Core and can vary on time depending on the ground formations and hole depths. Generally, a standard hole can take up to a couple of days."
Perhaps MMA are economising by using a tooth-pick.
Hi, Mamba
You may well be right. I find the whole thing very confusing, to be honest. But if drilling is ongoing (regardless of when it began), presumably at some point we will receive some results.
Hi, Dr
There's a difference between saying that MMA is able to continue drilling, and that it is actually doing so. For which reason, I consider today's update good news.
Hi, Dr
Yes, I too had noticed that sentence at the end of para 3. As far as I'm aware, no-one has told us that before.
Hi, Jackbal
Para 1 was what I was intending to write myself; but got diverted by other matters.
Best wishes
Hi, Ageos
You know much more about this than I do; but I, too, think Rob is mistaken in believing that MMA is deliberately concealing results from OMI. "The industry simply doesn't work that way as the reputational damage to the perpetrator would be terminal."
Sometimes, it's possible to be too mistrustful.
The reason the chatboard is so silent, is that we've all said everything we have to say. We need Harold Macmillan's "events, dear boy, events" to change this.